Radio Show Notes May 15^th 2013
 
Go to:  www.rodnolespropertymanagement.com and click on radio notes and sign up to have them emailed each week. If you know of someone looking for rental space, apartments, homes, retail, office or industrial send them to www.rodnolespropertymanagement.
 
You can participate in the show by calling 318-442-8255 (talk) between 8:05 and 8:55 on Wednesday morning.  Do not attempt to call Saturday this is our encore performance (fancy way to say taped). KSYL has now added Wednesday evening encore at 8:00 pm

 
Every Deal has a Tale / Tail:
 
Louisiana Realtors headquarters in Baton Rouge hit by lighting last week, 50% of building caught on fire. Insurance declared it as a total loss. No one was injured.
 
Blockbuster Is closed! I was correct in my announcement just few a weeks ago.
 
There is a new BBQ restaurant prior to slowing down for speed trap in Woodworth going south. It’s called Russell’s BBQ and has been open two weeks. Look for the owner standing in the middle of the road with a sign. If you hit him maybe next week he is road kill on a bun. Food is good, stop by and check it out! 
 
Northport Investments, LLC Brian Bossier (P O Box 7177, Alex., LA 71303) to GWWT, LLC Michael Grant  (P O Box 8439, Alex., LA 71306) - 2.501 acres in Sec 14, T4NR1W, $188,397.00. Price per square foot is $1.73
 
Loan amount GWWT, LLC (1439 Centre Ct Ste. 600, Alex., LA 71301) to First Federal Bank of LA (P O Box 1667, Lake Charles, LA 70602) - 2.501 acres in Sec 14, T4NR1W (2040 Industrial Park Rd., Alex., LA 71303), $601,800.00
 
Roy Reap (P O Box 12096, Alex., LA 71301) to Lynn George's AA Auto Parts, Inc. d/b/a AA Properties, Inc. (2709 Maureen, Pineville, LA 71360) - No description given, $28,000.00. Help from drive by reporters.
 
V & V Properties, LLC (P O Box 12486, Alex., LA 71315) to Ronan Investments, LLC (P O Box 651, Alex., LA 71309) - 35.531 acres in Sec 57, T4NR2W, $353,300.00
 
Rapides Parish Police Jury to Dept. of Health & Hospitals - 5242 sf located at 5604-B Coliseum Blvd., Alex., LA for 10 years @ $5498 monthly
 
Whitney/Hancock closing branches
The CEO of Hancock Holding Co., the parent company of Whitney Bank, said today between 40 and 45 branches will be closed within its five-state footprint by the end of the year.
 
Hancock President and CEO Carl Chaney announced the closures during a presentation at the Gulf South Bank Conference, which is being held this week at the Ritz-Carlton Hotel in New Orleans. Chaney declined to name the specific markets where the closures will occur as the company is still notifying employees of the plans, but said the closures will have “little impact” on its core New Orleans and Mississippi Gulf Coast markets.
 
People not Property: 
 
Dalai Lama is coming to New Orleans: I have been invited to attend the work shop about compassion and mediation and I am really excited. I wonder if Dalai Lama will be bringing Dolly Parton.
 
Ralph Thiels best wishes in your retirement stop by Evangeline Bank between 10:00 Am and 2:00 pm to tell Ralph thanks for 42 years of service to banking industry in Central Louisiana.
 
Wayne Denley deserved Kudos for the beginning spark that started our Dragon Boat races. I need a drive by reporter to call in and tell us who he winning team was?
 
Construction Contracts: 
 
LA Division of Administration to John Gibbs Roof Systems, Inc. (P O Box 6384, Bossier City, LA 71171) - Roof replacement Kent House Museum, $99,000.00.
 
Absorption Rates and Inventory Situation:
 
We reported last week that Aprils absorption rate was 6.97 for local MLS lets compare to the following regions:
 
3 months in Dallas, Phoenix, Seattle, and Detroit
 
11 months in Long Island
 
Why might inventory be down and different markets nationwide? Different price ranges, and different sub markets.
 
2006 buyers are not sellers even in recovering market.
 
Investors are paying cash, I do know of a local investment group that just purchased 14 homes all cash.
Increasing rental rate
 
Lenders are foreclosing less, hence fewer REO on market last 10 weeks locally less than 5% of total market sales
 
Biggest factor is low interest rates both on home loans and certificate of deposits.
 
Post 2006 Central La. witness fewer Realtors, fewer sales, more negotiation off asking price, slight increase in foreclosed properties, but not crash like Detroit, Phoenix, Las Vegas. When you see national headlines such as “9.3% jump in home prices from  February 2012 compared to February 2013 and even double digit price increases you are looking at those markets that were in a bubble, then crash, and now 9% to 10% increases. When the bar is so low it is easier to jump over it.
  
Case Shiller index of 20 National Markets 100% posted year over year gains. Last time this happen was in 2005 the year prior to bubble pop. Median home price was $184,300 and well below peak of $230,400 in 2006 but up from $154,600 in January 2012.
 
(+3.75) Rod’s Economic Indicator Perfect score is 5.
 
When top rating of 5 appears week after week I will share with our audience, that “Green Shots” is here and recovery is in full swing. 
 
Legal recorder data: business days from May 7, 2013 to May 13, 2013
most recent 5 working days
 
(1)Total of 40 closed deals for the week has positive score
(2) At least one new home sale for the week has positive score
(3) At least one subdivision lot sale for the week garners positive score
(4) Number of lender sales in market place is less than 5% of the total market sales for the week.  
 
(-1.25) Total Weekly Volume:
 
37 sales with volume $4,163,686 that’s a negative score for the week.
 
(+1.25) Lot Sales:
 
To rank a positive score we need one sale per week and the market provided four. Three from developer’s inventory and one from lenders.
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Matthew J & Meredith M Crotty (512 Ansley Blvd., Alex., LA 71303) - Lot 70, Crossgates, Phase IV (510 Anderson Court, Alex., LA 71303), $30,000.00
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to JWT Properties, LLC (6031 Bayou Rapides Road, Alex., LA 71303) - .99 acres in Sec 17, T4NR1E, $19,000.00
 
Van Mol & Sons, LLC (222 Hwy. 456, Lecompte, LA 71346) to David J Van Mol (222 Hwy. 456, Lecompte, LA 71346) - Lot 51, Ocho Rios Subd., Phase I-B, $29,000.00
 
Try-Mar, LLC (P O Box 12411, Alex., LA 71315) to Bobby G & Christa M Branton (117 Eola Dr., Alex., LA 71303) - Lot 13, Le'Bayou Estates Subd., $53,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week, the market gave us two sales for positive score.
 
Bryan N Peart, Jr. & Inez M Peart (201 Peart Lane, Pineville, LA 71360) to Christopher W & Sarah M Kegerreis (6425 Genevieve Dr., Alex., LA 71301) - Lot 187, Tennyson Oaks Subd., Phase 7C (6408 Arden Oaks Dr., Alex., LA 71301), $420,000.00
 
Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) to Terrence M & Mary G Jeansonne (221 Sandy Lane Echo, LA 71330) - Lot 154, Country Club Place, Phase IV (3029 Wesley Circle, Woodworth, LA 71485), $230,000.00
 
(+1.25) Lender Sales as Percent of Total Sales:
 
Rates positive score if lender sales are below 5% of total sales, the market gave us two sales for total volume of $142,900 / $4,163,686 = 3.43% positive score for the week
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Matthew J & Meredith M Crotty (512 Ansley Blvd., Alex., LA 71303) - Lot 70, Crossgates, Phase IV (510 Anderson Court, Alex., LA 71303), $30,000.00
 
Federal Home Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to Ballina Farms, Inc. (4615 Parliament Dr., Suite 100, Alex., LA 71303) - Lot 11, Bellmont Addn. (3440 Halsey St., Alex., LA 71301), $112,900.00
 
Interest Rates:
 
Third week of slight increase: 30 year rate was 3.53% last week, this week its 3.62%, the 15 year rate was 2.73% this week it is 2.76%.
 
Indices

 
Consumer Money Rates

 
Currencies

 
Commodities

 
Bond Rates

Services Rod Noles Property Management
Offers Property Owners

 
Our purpose is to be useful to our clients by providing quality management services that will add value to their properties and accomplish their investment goals and objectives.
 
The major components of our management plan include:
 
♦ Allocating resources to facilitate and successfully implement the management plan.
 
♦ Establishing record keeping systems to maintain documents and records. Leases, work orders, warranties, agreements. 
 
♦ Performing routine and preventative maintenance measures.
 
♦ Developing a comprehensive understanding of the owner’s goals, objectives, time frames, financial constraints and requirements.
 
♦ Providing timely and effective response to property needs and owner requirements.
  
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Our team of dedicated management, leasing and maintenance professionals has built a reputation on delivering outstanding results.
 
The leasing process includes applicant screening and credit checks to ensure quality tenants. Our staff sits down with each tenant individually before they sign the lease contract to highlight what is expected.
 
Our staff is available 24/7 for maintenance emergencies. 
Rents and security deposits are collected on your behalf, protecting investor’s interest.
 
Our Management fee is 10% of monthly income collected. We also charge an $11 accounting fee per month. We will send you a monthly statement of income and expenses with your check and will prepare a 1099 for each tax year.