Rod's Notes Archives for 2012-09

Rod's Notes For Wednesday 9/26/12


Rod Noles Property Management, Inc.

 

Rods Radio Show Notes
September 26th 2012
 

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).
 
Interesting Properties for Sale:
 
Burlington Coat Factory: Building with lease in place to Burlington Coat Factory $4,250,000 sales price, 62,163 square feet, with 9.5% Cap Rate (Cap Rate is I = R/V so $4,250,000 x 9.5% = annual net operating income of $403,750 / 62,163 = $6.50 psf). New Orleans Company SRSA has it listed but I can sell it. http://www.lacdb.com/listing/28285843
Provine Building:
Located at Provine and Ansley $3,300,000 includes leases in place and nearly 40,000 sf building Jim Redfearin has the listing.
 
4 Seasons Bowling Alley:
 
44,045 sf of building and 4.48 acres of land for $1,900,000 / 44,045 sf = $43.14 Bobby Smith in NAI Latter & Blum office in Baton Rouge has it listed.
 
Town Talk Property:
 
Property located between levee and Second Street reduced to $975,000 nearly 1,000 feet of frontage on Second Street two buildings with total of nearly 80,000 sf.
 
Every Deal has a Tale / Tail:
 
Attachment has past two weeks of listings, under contract, closings, and price adjustments at Noles-Frye Realty Inc. which gives you snap shot of 25% of activity in local MLS. Best single page of real estate data in the market place. For example you will see it here first that 3130 Jackson Street the former Alexander / Bolton Insurance building is under contract. (Priscilla Perry and I have both sides of this pending transaction)
 
ESM Partnership David Martin and Jonathan Martin (P O Box 1110, Alex., LA 71309) to Roy O Martin Lumber Co., LLC (2189 Memorial Dr., Alex., LA 71301) - Tract in Sec 40, T4NR1E, et al, $782,918.84. Could be what is termed “arm’s length” transaction but probably not.
 
Examples of Very Good Commercial Real Estate Loans:
 
1106 Main St., LLC (1715 England Dr., Alex, LA 71303) to Red River Bank (1412 Centre Court, Alex., LA 71301) - 1.3827 acres in Sec 37, T5NR3E (1260 Hwy. 115, Deville, LA 71328), $758,933.90. This is long term financing for Dollar General in Deville.
 
Plaza 28, LLC Jerome Karam (3704 North Blvd., Suite 1, Alex., LA 71301) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Lots 3 & 4, Plaza 28 (6501 Coliseum Blvd., Alex., LA 71303), $950,000.00. This is most likely long term financing for the former Century Tel property on highway 28 West.
 
New Restaurant:
 
Family Affair restaurant opening at 7518 B Coliseum Blvd. received notice of grand opening October 12th. Hopefully owners will call in and tell us more
 
John F & Mona C Jones to Heart of LA FCU (P O Box 4030, Pineville, LA 71361) - Part of Lot 5, Breezy Heights Subd., $100,000.00. Parcel is adjacent to Credit Union located at corner of Edgewood and Greer road
 
People not Properties:
 
Matt Ritchie was installed last week as President elect for Louisiana Realtors Association for 2013. Who was last LRA President from Central La. Board?
 
Sandy Ray director at Hope House called and ask me not to spring their news prior press conference next week. Often caller will ask me a question where I do not know the answer. No credit given for things I know but cannot tell.
 
HK Stanley and Tom Ryder both very active in our local real estate industry passed away this past week. Tom Ryder was a banker at Red River bank at one time he had his own mortgage company, great guy. HK Stanley is a role model of perseverance, self-starter, and a dreamer. We first met when he optioned land that Sundrop Fuels has under contract at Rapides Station surrounding Cowboy Town for Jena Choctaw future casino 1997.
 
Tip for The Week:
 
Don’t miss quarterly luncheons for CLEDA (Central Louisiana Economic Development Alliance) Jay Moon President and CEO Mississippi Manufacturers Association and Chairman on International Economic Development Council made a great presentation on manufacturing in America and beyond. Some of his bullet points included the following:

  1. 40,000 number of plants closed in America between 2000 and 2009
  2. 32% of all manufacturing jobs lost between 2002-2009
  3. 1941 was the last time USA had fewer than 12 million workers in manufacturing
  4. 56 years old is average age of American welder
  5. Discussed what he termed as “Onshoring” jobs moving back to America

 
Take away for me is that Union Tank Car, and Sundrop Fuel deals are very rare captures for any community but especially smaller markets. 
 
(+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:
 
Five business days from time period of September 17th through September 21st  
 
(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:
 
$6,312,886 with 45 transactions largest sale timber deal with ROM at $780,000. This activity rates a positive score for the week.
 
(+1.25) Lot Sales:
 
To rank positive score need one sale market gave us 6 lot sales for the week. V&V are under construction with last 25 lots in Bocage and are sold out in West Pointe. Tennyson Oaks has 14 lots with land for 10 more. If building should pick up Alexandria Community could have lot shortage in 24 months. 
 
Jason N Bardwell (3930 Staples Road, Pineville, LA 71360) to Garet M Voohries (6133 Hwy. 107, Pineville, LA 71360) - Lot 7, Pine Oak Subd., $16,000.00
 
Scott T Fowler (6505 Moody Oaks Lane, Alex., LA 71301) to Randall B & Paula D Tarver (P O Box 5432, Alex., LA 71301) - Lot 15, The Lake District, Phase 1 (4701 Lilley Court, Alex., LA 71303), $164,000.00
 
Price Right Properties, LLC (4400 Hwy. 28 East, Pineville, LA 71360) to Bernard's American Homes Sales, Inc. (4400 Hwy. 28 E, Pineville, LA 71360) - Lot 18, Buckeye Ridge Subd., Phase II, $27,900.00
 
Price Right Properties, LLC (4400 Hwy. 28 East, Pineville, LA 71360) to Jaad Builders, LLC (4400 Hwy. 28 E, Pineville, LA 71360) - Lot 8, Buckeye Ridge Subd., Phase II, $27,900.00
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to TSW Properties, LLC (P O Box 3805, Pineville, LA 71360) - 1 acre in Sec 38, T4NR2E (631 Booner Miller Road, Deville, LA 71328), $25,000.00
 
B & B Office Holdings, LLC (P O Box 2167, Prairieville, LA 70769) to Three B Construction, LLC (P O Box 2167, Prairieville, LA 70769) - Lot 15, Shadow Creek Ranch Subd., Phase I, $36,000.00

(-1.25) New Home Sales:
 
Looking for one new home sale for positive score and market gave us zero
 
(+1.25) Lender Sales as Percent of Total Sales:

 
Rates positive score if lender sales are below 5% of total sales, this week market gave us 3 sales with total volume of $224,900 / $6,312,886 = 3.56% rates positive score for the week.
 
LPP Mtg., Ltd. (7195 Dallas Parkway, Plano, TX 75024) to 3H Investments, LLC (2109 North MacArthur Dr., Alex., LA 71303) - 1.01 acre tract known as 967 Palmer Chapel Road, Pineville, LA 71360, $35,000.00
 
The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Ratcliff Development, LLC (P O Box 7522, Alex., LA 71306) - Part of Lots 4 & 5, Blk 9-C, Forest Hill Townsite, et al, $75,000.00
 
Federal Home Loan Mtg. Corp. to Christopher R Gotreaux, et al (1410 Donahue Ferry Road, Pineville, LA 71360) - Tract running 68.72' on Donahue Ferry Road, Pineville, LA, et al, $114,900.00

Interest Rates:
 
30 year rate was 3.52% this week is 3.46%, the 15 year rate was 2.93% this week it is 2.84%, the 5/1 ARM was 2.95% now 2.93%.
 
Numbers of Interest:
 
8.2% of American households do not have a bank account up from 7.7% in 2009
 
3.9% average revenue decline over last year for American Cities
 
Email from Rick Haase President for Latter & Blum:
 
This is good information when talking to Buyers, Sellers and new home Builders about the state of the housing market.
 
USA Today Article
 
The housing market's rebound is gaining strength as foreclosure sales slow and more people who are not in financial trouble put their homes on the market. New signs are adding to recent evidence of housing's upward momentum:

  • Existing-home sales in August were the strongest since May 2010. They rose 7.8% last month to a seasonally adjusted annual rate of 4.82 million, the National Association of Realtors reported Wednesday.
  • August housing starts, including houses and apartment buildings, rose 2.3% from July to a seasonally adjusted annual rate of 750,000, the Commerce Department said Wednesday. Single-family home starts rose 5.5%, reaching their best annual rate since April 2010. The pace of newly issued building permits fell 1%, down from a four-year high in July.
  • Homebuilders are getting ebullient. On Tuesday, the National Association of Home Builders reported that builders' confidence is the highest since 2006. The NAHB's list of 99 improving local markets now includes hard-hit areas such as Jacksonville and Tucson.

Housing prices have fallen so sharply that the ratio of home prices to incomes is now near the average from 1985 to 2000, said Stan Humphries, chief economist at real-estate web site Zillow.com. Factor in interest rates, and house payments are 16% easier for today's average buyer than they were for a decade and a half before the bubble, he said. “Prices have gotten so low, and affordability so high, that buyers have come off the fence,'' Humphries said.
 
Wednesday's data show that the supply of homes added to the market is rising, even as foreclosure sales slow, meaning regular buyers and sellers are gaining confidence, Moody's Analytics economist Celia Chen said. Demand is growing even faster than new supply, putting pressure on prices, she said.
 
The national median existing-home price was $187,400 in August, up 9.5% from a year ago, the Realtors said. The increase was the biggest since January 2006. Stable prices are bringing out buyers who hesitated while values were falling, said Stephen Paul, executive vice president of Mid-Atlantic Builders in Rockville, Md. His summer sales tripled this year, to 15 units from five last year.
 
Low down payment mortgages backed by the Federal Housing Administration are filling gaps remaining in private financing markets, he said. "We had our best summer in seven years,'' Paul said. "If I'm selling in July and August, when markets are in hibernation, people are looking to buy in a serious way.''
 
The NAHB survey shows builders are more positive about the early 2013 market than they are about conditions now, association president Jerry Howard said. "Confidence and customer traffic -- the precursors to capital spending -- are very good,'' he said. Housing starts will reach almost 1.1 million next year, up from 780,000 this year, enough to boost overall economic growth by 0.8%, Chen said. Barclays economist Michael Gapen said a 1.5 million-unit market would be healthy. "We're about halfway back,'' Gapen said.
 
Rick
 
Richard C. Haase,
President
LATTER & BLUM, INC.
430 Notre Dame Street
New Orleans, Louisiana  USA 70130-3610
(504) 569-9361 Office Direct
(504) 251-3757 Cell
 
Robert Kinberger Stats
 
Indices

 

Last

Last Week

YTD return %

DJIA

13596.93

13539.86

11.29%

NASDAQ

3175.96

3155.83

21.91%

S&P 500

1460.26

1459.99

16.11%

MSCI EAFE

1545.77

1531.29

9.43%

Russell 2000

851.51

856.12

14.93%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.16

0.10

30-year mortgage

3.51

4.13

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.619

1.572

Dollars per Euro

1.294

1.368

Japanese Yen per Dollar

78.310

76.500

Canadian Dollars per Dollar

0.978

0.993

Mexican Peso per Dollar

12.913

13.198

 
Commodities

 

Last

1-year ago

Crude Oil

91.87

86.89

Gold

1768.70

1803.13


Bond Rates

 

Last

1-month ago

2-year treasury

0.26

0.26

10-year treasury

1.77

1.67

10-year municipal (TEY)

3.18

3.11

 
 
4 Seasons Bowling Alley Floor Plans
 Go to www.rodnolespropertymanagement.com and click on the RADIO SHOW tab...open the notes titled Radio Show Notes Sept.26th 2012
and scroll to the bottom. You may also email Priscilla and she will be happy to send those over to you! pperry@noles-frye.com
 

Family Affair Grand Opening
 
Southern Eating for the New South
 
GRAND OPENING
OCTOBER 12th FRIDAY 11am
7518B Coliseum Blvd. Alexandria, LA71303
318.442.3955 familyaffairsouth.com
 
Family Affair welcomes you to the future of food, family and Philanthropy and we don’t forget the Fun… Come celebrate the exciting New South dining experience with us and welcome to the FAMILY! 
 
 
 

 
 

Rod's Notes For Wednesday 09/19/12


Rod Noles Property Management, Inc.

 

 

 Rod’s Radio Show Notes
September 19th 2012

 

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).

 
Every Deal has a Tale / Tail:

Louisiana Housing Finance Authority had disappointing news for Stock yard development with developer David Strange. Lower Third Street mix use of retail and apartments did not make tax credit allocation cut. This time around board gave 10 point preference for rural and 10 point preference for veterans. David Strange will be back but we are not likely to see his development come out of the ground in next 12 months.
 
Commercial Properties Resources, LLC (611 Shellbeach Dr., Lake Charles, LA 70601) to MFTA Investments, LLC Joel Angelle (123 Milan Circle, Lafayette, LA 70508) - Lot 21, Blk 6, Willow Glen Plantation Subd., et al, $155,000.00. 5225 Morgan street I once own this building sold it years ago to Cummins Diesel in Lake Charles. Dale Danean was listing agent and I am not sure if he was selling agent also. Largest Commercial deal of the week.
 
BNH, LLC Ben Hargis (675 Johnston St., Alex., LA 71301) to Light It Up, LLC Spencer Marks (2312 S MacArthur Dr., Alex., LA 71301) - .066 acres in Sec 21, T4NR1W, $45,000.00. New site for digital billboard one of many hats that Spencer wears, he is an attorney, real estate broker, real estate developer, and has digital billboards.
 
Brian Caubarreaux has a law firm in Marksville and just bought Mardi Gras Plaza at 4501 Jackson Street. They will open a satellite office in Suite A within the next thirty days. If you have paralegal or law firm secretarial experience email or call Brian with your resume. (318)253-0900
 
Louisiana College Acquisitions This Year: 3 transaction nearly $300,000

04/23/2012

1912/469 1473744

Nolan E & Priya K Daniel (116 Don Lane, Pineville, LA 71360) to Louisiana College (LC Box 381, Pineville, LA 71359) - Lot 9, Blk B, W H Barron Subd. (1303 College Dr., Pineville, LA 71360), $114,500.00. Between Mary Street and Myrtle on College Drive> the college owns one other property in that block.

05/24/2012

1915/928 1476671

Blanche E Hodge (1740 Hwy. 1241, Dry Prong, LA 71423) to Louisiana College (LC Box 381, Pineville, LA 71359) - Part of Lot 2, Blk 2, Lawrence & Lewis Subd. (505 Pine St., Pineville, LA 71360), $56,000.00. Large parcel 227’’ deep near corner of Pine and College, first purchase on this side of Pine. The college owns 541’ frontage on track across the street.

09/13/2012

1928/444 1485577

Tina L Gentry (P O Box 8711, Alex., LA 71306) to Louisiana College (1140 College Dr., Pineville, LA 71360) - .554 acres in Sec 22, T4NR1W (1304 Donahue Ferry road, Pineville, LA 71360), $125,000.00. Donahue and Main LC own property next door which is left side of road as you enter LC.

 
Acreage Sales:

8 sales with 206.21 acres total for volume in acreage for the week of $657,272
 
David L Alwell, et al (202 Vanburg Place, Lafayette, LA 70508) to Janet A Arias (7991 Secluded Lane, Denver, NC 28037) - 11.11 acres in Sec 22, T5NR3E, $17,400.00
 
Michael S Barnett (P O Box 111, Otis, LA 71466) to Samantha S Gerace (13232 Hwy. 1, Simmesport, LA 71369) - 3 acres in Sec 2, T3NR4W, $28,500.00
 
Jesse W & Merjoery P Lott (1570 Evangeline Road, Glenmora, LA 71433) to Elza N & Kristain D Sweat (174 Diddle Babb Road, Glenmora, LA 71433) - 10.37 acres in Sec 28, T1SR2W, $41,480.00
 
Jesse W & Merjoery P Lott (1570 Evangeline Road, Glenmora, LA 71433) to Zenas P Strother, Jr. (P O Box 491, Glenmora, LA 71433) - 10.37 acres in Sec 28, T1SR2W, $41,480.00
 
William D & Roxanne P Harvey (P O Box 278, Lecompte, LA 71346) to Ernest L Doyal (409 H Strange Road, Lecompte, LA 71346) - 2.21 acres in Sec 58, T2NR1W, $50,000.00
 
Larry R Shoemaker, et al (266 Bobby Sam Court, Collinsville, TX 76233) to Crest Natural Resources, LLC (P O Box 6115, Alex., LA 71307) - 50 acres in Sec 12, T5NRW, $100,000.00
 
Richard C Brasher, et al (2303 Marye St., Alex., LA 71301) to Crest Natural Resources, LLC (P O Box 6115, Alex., LA 71307) - 110 acres in Sec 31, T5NR1E, $158,412.50
 
Wilbert J Saucier, Jr. & Betty A Saucier (111 Rebel Run, Pineville, LA 71360) to John H Hertz, Jr. & Pamela S Hertz (5612 Pinekraft Dr., Pineville, LA 71360) - 9.15 acres in Sec 41, T4NR1E, $220,000.00
 
Double Play on Georges Lane:
Last Week over $2,000,000 in home sales.

 
Lawrence P & Susan C Menache (3028 George's Lane, Alex., LA 71301) to Gregory C & Shawn E Dowd (2828 George's Lane, Alex., LA 71301) - Lots 4 & 5, Mrs. J E Thorsell's Subd., et al (3028 Georges Lane, Alex., LA 71301), $1,250,000.00
 
C D Parrott Properties, LLC (P O Box 798, Ruston, LA 71273) to Lawrence P & Susan C Menache (3121 Georges Lane, Alex., LA 71301) - Lot 2, Park Land Co. Subd. (3121 Georges Lane, Alex., LA 71301), $825,000.00
 
Triple Play Just In Time for Baseball Playoffs:

$1,078,000 in three sales all tied together.
 
William S Carstens, Sr. & Elizabeth M Carstens (1243 Southampton Dr., Alex., LA 71303) to Gerald J & Margaret D Lacombe (P O Box 13674, Alex., LA 71315) - Lot 146, Tennyson Oaks Subd., Phase 7A (6409 Audubon Oaks, Alex., LA 71301), $485,000.00
 
Richard C Bordelon (6006 Coty Dr., Alex., LA 71303) to William S Carstens, Sr. & Elizabeth M Carstens (1243 Southampton Dr., Alex., LA 71403) - Lot 139, Wilshire Park Subd. (1243 Southampton Dr., Alex., LA 71303), $345,000.00
 
Jarred B & Debra D Parker (138 Evans Shel, Alex., LA 71301) to Richard C Bordelon (1243 Southampton Dr., Alex., LA 71301) - Lot 178, West Point Subd., Phase VII (6006 Coty Dr., Alex., LA 71303), $248,000.00
 
Construction Contracts:

Coliseum Properties, LLC John Murphy (5845 Coliseum Blvd., Alex., LA 70130) to Woodward Design + Build, LLC (1000S Jefferson Davis Parkway, New Orleans, LA 70125) - Southern Cadillac/Chevrolet Image Upgrade, $861,946.00
 
People Not Properties:

The Home Builders Association of Central LA lost a member and good friend this week. Robbie Williams of Cowboy Construction passed away on Monday, Sept. 10, 2012. 
 
(+5.00) 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. 
 
Numbers of Interest:

25% of seniors receiving Medicare spend all their saving and must sell their homes and other assets to pay for non-covered medical care in the last five years of life.
 
60% of our pets are prone to obesity, I guess that where the term “fat cat” comes from?
 
716,000 number of state and local government workers who have lost their jobs since 2008.
 
18.9% of Americans smoke down from 20.4% in 2008
 
Legal Recorder Data:

Five business days from time period of September 10th through September 14th
  
(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:

It’s been a great week with 58 transactions and $8,950,987 in total volume.
 
(+1.25) Lot Sales:

To rank positive score need one sale market gave us a single sale.
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Sid J Mcginley & Joan E West (15 Marie Lane, Boyce, LA 71409) - Tract in Sec 18, T3NR3W, $23,000.00.

(+1.25) New Home Sales:

Looking for one new home sale for positive score and market gave us single sale but Bryan Peart  contracted for three lots in Tennyson Oaks.  
 
Bryan N Peart, Jr. & Inez M Peart (201 Peart Lane, Pineville, LA 71360) to Aaron D & Elizabeth Q McLemore (6316 Arden Oaks, Alex., LA 71301) - Lot 182, Tennyson Oaks Subd., Phase 8 (6316 Arden Oaks, Alex., LA 71301), $425,000.00
 
(+1.25) Lender Sales as Percent of Total Sales:

Rates positive score if lender sales are below 5% of total sales, this week market gave us zero with 58 transaction and nearly $7,000,000 in sales with no foreclosures.
 
We have 9 lots under contract in Tennyson Oaks and only 14 remaining in our inventory.

Interest Rates:

30 year rate was 3.52% this week is 3.52%, the 15 year rate was 2.93% this week it is 2.93%, the 5/1 ARM was 2.90% now 2.95%.
 
Federal Reserve Chairman, Ben Bernanke just announced that the Fed will continue its policy of accommodation and support our economy’s growth and development. September 13th 2012 The Federal Reserve committed to buy $40 Billion per month in Mortgage Backed Securities. While this will create some momentary mortgage rate volatility, most agree that this move maintains tremendous downward pressure on mortgage interest rates. The stock markets are responding positively to this news and we should get out there and re-iterate our position that there truly may not be a better time to buy a home than right now. 
 
Indices:
Furnished by Robert Kinberger

 

Last

Last Week

YTD return %

DJIA

13539.86

13292.00

10.82%

NASDAQ

3155.83

3135.81

21.14%

S&P 500

1459.99

1432.12

16.09%

MSCI EAFE

1531.29

1484.75

8.41%

Russell 2000

856.12

837.95

15.55%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.15

0.13

30-year mortgage

3.58

4.37

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.611

1.582

Dollars per Euro

1.291

1.371

Japanese Yen per Dollar

77.610

76.870

Canadian Dollars per Dollar

0.973

0.990

Mexican Peso per Dollar

12.920

12.902

 
Commodities

 

Last

1-year ago

Crude Oil

98.31

90.21

Gold

1752.95

1828.88

 
Bond Rates

 

Last

1-month ago

2-year treasury

0.23

0.29

10-year treasury

1.54

1.72

10-year municipal (TEY)

2.83

3.15

 
 

You are invited to attend
CLEDA Quarterly Innovation Luncheon
Featuring Guest Speaker
Jay C. Moon, CEcD, FM
President and CEO – Mississippi Manufacturers Association
Chairman – International Economic Development Council
speaking on
The Future of
Manufacturing in the South
Noon on Monday, September 24, 2012
Country Inn and Suites Conference Center
2727 Monroe Highway 165
Pineville, LA 71360
Tickets are $20 each. A table of 10 tickets may be reserved for $175.
For more information, call (318) 441-3403 or visit
www.centrallouisiana.org
RESERVATIONS ARE MANDATORY
Reservations cannot be accepted after September 17.
 

 
 

Rod's Notes For Wednesday 09/12/12


Rod Noles Property Management, Inc.

 

 Rod’s Radio Show
September 12th 2012

 

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).
 
*** I Phoned in Last Week from New Orleans***

 
Mykoff Absorption Report:
 
6.91      total market 650 homes / 94 sold = 6.91
27         $400,001 and up 27 on market 0 sold
6.82      $250,001 to $400,000 with 75 on market / 11 sold = 6.82
7.5        $150,001 to $250,000 with 195 on market / 26 sold = 7.5
6.19      under 4150,000 with 353 sold / 57 sold = 6.19
 
Every Deal Has a Tale / Tail:
 
Randall B & Paula D Tarver (P O Box 5432, Alex., LA 71301) to Jay B & Lacy B Blackmon (4701 Collinsburg Dr., Alex., LA 71303) - Lot 9, The Lake District, Phase 1 (4701 Collingsburg Dr., Alex., LA 71303), $1,400,000.00. Jay B & Lacy B Blackmon (73 Curtis Road, Pineville, LA 71360) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Lot 9, The Lake District, Phase 1 (4701 Collingsburg Dr., Alex., LA 71303), $1,120,000.00
 
Jay B & Lacy B Blackmon (4701 Collinsburg Dr., Alex., LA 71303) to Thomas E Tucker (543 Elmus Paul Road, Pineville, LA 71360) - 3.116 acres in Sec 43, T5NR2E, $100,000.00
 
Loyer Grocery, LLC (P.O. Box 38, Lecompte, LA 71346) to Water St. Market, LLC Bruce and Sue Evans (1803 Water St., Lecompte, LA) - Part of Lots 6 & 7, Blk 1, Earnest Smith Subd. (1802 Water St., Lecompte, LA 71346), $430,000.00
 
Up day on our second place finish on Belle Trace foreclosure mentioned few weeks back where lender topped our bid of $131,000. ll JP Morgan bid the property in at $145,000 and now has it listed with Amy Brocato at $120,000. This is what happens when there is a guarantee behind loan with rural development. Earl Waltman stopped bidding at $115,000 and called me later to say how lucky I was not to buy the property at $131,000. Legal cost to pursue this transaction were $650 not sure you will see me at court house steps Wednesday @ 10:00 am.
 
Rainbow signs have opened local office at 5220 Suite A Rue Verdun
 
Angelle Concrete Group, LLC to Port Aggregates, Inc. (314 N Main St., Jennings, LA 70546) - Tract in Sec 18, 19, & 80, T4NR1W, $85,649.00. Port Aggregates, Inc. (314 N Main St., Jennings, LA 70546) to Whitney Bank (228 St. Charles Ave., New Orleans, LA 70130) - Tract in Sec 18, 19, & 80, T4NR1W, et al, $12,000,000.00 appears to be inter-company transfer.
 
Rumors & Razors Edge:
 
Hampton Inn at I-49 expanding
 
Bayou Rapides apartments are under contract for $25,000 per apartment.
 
People not Properties:
 
Rick Ransom with CLEDA will be my guest this morning to discuss quarterly CLEDA meeting.
Noon on Monday, September 24, 2012
Country Inn and Suites Conference Center
2727 Monroe Highway 165
Pineville, LA 71360
Tickets are $20 each. A table of 10 tickets may be reserved for $175.
 
Ryan Pecot commercial broker with Sterling shared with me and I passed it on to our listener’s article Ryan wrote in Lafayette paper. The article was an update on retail market in Lafayette and he begins by telling us 2011 on national basis was a record low years in new square footage for construction of retail properties. Lafayette introduced 200,000 and I need to research what our market did in comparison. Increase in occupancy for the entire market increased more than half-point 86%. College Drive at Johnson street area had 94% occupancy. Rents for small shops increase 25 cents per square foot to $15.70 psf. Ambassador Caffery trade area was $18.09 psf.
 
Kristy Royall and Sissy Nitz have opened new small shop store called Dat Bayou Bling good Town Talk article but no address.
 
(+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:
 
Five business days from time period of September 3rd through September 7th
  
(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:
 
With Labor day there were only 4 business days last week 37 sales with $5,801,674 rates a positive score and we had the excitement of $1,400,000 home sale in the Lake District.
 
(+1.25) Lot Sales:
 
To rank positive score need one sale market gave us a single sale. Great news with one of our developments sold another lot in Tennyson Oaks, makes 7 sales in one month only 16 lots remaining. 
 
James W Greer (P O Box 1719, Tioga, LA 71477) to Kyle W & Amanda N Sellers (TBD Shreveport Hwy., Pineville, LA 71360) - 4.633 acres in Sec 15, T5NR1W, $48,000.00

(+1.25) New Home Sales:

Looking for one new home sale for positive score and market gave us two sales
 
V&V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Stuart M & Jennifer M Tichenor (5948 Toria Dr., Alex., LA 71303) - Lot 114, St. Andrews Links Estates, Phase III (236 Saint Andrews Dr., Alex., LA 71303), $290,000.00
 
ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Bianca N Alexander (1240 Lancaster Dr., Alex., LA 71303) - Lot 113, Wilshire Park Subd. (1240 Lancaster Dr., Alex., LA 71303), $157,500.00
 
(-1.25) Lender Sales as Percent of Total Sales:

Rates positive score if lender sales are below 5% of total sales, this week market gave us 4 sales with volume of $365,400 / $5,801,854 = 6.29% for negative rating.
 
Cenla FCU (P O Box 1271, Alex., LA 71309) to John H & Amber M Kreideweis (104 Anderson St., Pineville, LA 71360) - 11.552 acres in Sec 2, T5NR2E (7997 Hickory Grove Loop, Deville, LA 71328), $48,000.00
 
J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Michael & Candice Broussard (32 Borland Road, Deville, LA 71328) - .654 acres in Sec 20, T4NR2E (40 Borland Road, Deville, LA 71328), $115,500.00
 
J P Morgan Chase Bank to Billy J Bordelon, III (96 Denny Road, Deville, LA 71328) - 1.252 acres in Sec 20, T4NR2E (96 Denny road, Deville, LA 71328), $122,000.00
 
The Bank of New York Mellon Trust Co. to Carroll W Johnson (1550 Hickory St., Pollock, LA 71467) - Tract in Sec 2, T4NR2E (160 Billy Rush Road, Deville, LA 71328), $79,900.00

Interest Rates: 30 year rate was 3.53% this week is 3.52%, the 15 year rate was 2.90% this week it is 2.93%, the 5/1 ARM was 2.84% now 2.90%.

TO VIEW THE RYAN PECOT REPORT:
Go to www.rodnolespropertymanagement.com and click on the radio show tab. Open the notes titled Radio Show Notes Septmeber 12th 2012 and scroll to the bottom.
 

You are Invited to Attend
 

CLEDA Quarterly Innovation Luncheon

Featuring Guest Speaker
Jay C. Moon, CEcD, FM
President and CEO – Mississippi Manufacturers Association
Chairman – International Economic Development Council
speaking on
The Future of
Manufacturing in the South
Noon on Monday, September 24, 2012
Country Inn and Suites Conference Center
2727 Monroe Highway 165
Pineville, LA 71360
Tickets are $20 each. A table of 10 tickets may be reserved for $175.
For more information, call (318) 441-3403 or visit
www.centrallouisiana.org
RESERVATIONS ARE MANDATORY
Reservations cannot be accepted after September 17.

 
 
          Mykoff Monthly Comparison Absorption Report
 
 

2012

January

Feb

March

April

May

June

July

August

 

 

 

 

 

 

 

 

 

Currently listed

690

640

651

633

616

656

660

650

 

 

 

 

 

 

 

 

 

Sold

62

80

121

89

101

94

111

94

Came on the Market

109

102

134

121

130

146

138

129

Current Monthly Supply

11.1

8

5.38

7.11

6.1

6.66

5.95

6.91

 

 

 

 

 

 

 

 

 

$400,001 and Up

 

 

 

 

 

 

 

 

Currently listed

28

27

30

25

29

24

29

27

Sold

3

2

4

1

2

1

4

0

Came on the Market

1

4

6

2

8

1

3

5

Current Monthly Supply

9.3

13.5

7.5

25

14.5

24

7.25

27

 

 

 

 

 

 

 

 

 

$250,001-$400,000

 

 

 

 

 

 

 

 

Currently listed

70

63

69

68

61

63

67

75

Sold

3

10

9

8

6

11

10

11

Came on the Market

12

4

19

10

11

15

17

21

Current Monthly Supply

23.3

6.3

7.67

8.5

10.17

5.73

6.7

6.82

 

 

 

 

 

 

 

 

 

$150,001-$250,000

 

 

 

 

 

 

 

 

Currently listed

192

166

175

170

170

185

190

195

Sold

16

18

37

32

29

28

31

26

Came on the Market

32

22

39

38

41

44

41

39

Current Monthly Supply

12

9.22

4.73

5.31

5.86

6.61

6.13

7.5

 

 

 

 

 

 

 

 

 

Under $150,000

 

 

 

 

 

 

 

 

Currently listed

400

384

377

370

356

354

364

353

Sold

40

50

71

48

64

54

66

57

Came on the Market

64

72

70

71

70

86

77

64

Current Monthly Supply

10

7.68

5.31

7.71

5.56

6.56

5.52

6.19

 
 

Rod's Notes For Wednesday 09/05/12


Rod Noles Property Management, Inc.

 

Rod’s Radio Show Notes
September 5th 2012
 
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).

 
No insurance and no closing in front of hurricane:  usually this only delays a home loan closing but generally does not cost the consumer but at the end of the month buyers could be looking at larger daily interest payments if closing is moved into early September.
 
Every Deal has a Tale / Tail:
You can learn something from every close deal, the great distance you are from the transaction harder it is to develop good intelligence.
 
First I will review deals for the week and then take look at larger sales in August
 
CNL APF Partners, LP (8377 East Hartford Dr., Suite 200, Scottsdale, AZ 85255) to D'Argent Development, LLC (1460 Centre Court, Alex., LA) - Two tracts in Sec 7, T4NR1E (2645 Holloway Road, Pineville, LA 71360), $410,000.00
 
Robert L Beck, Jr. & Nancy J Beck (P O Box 12850, Alex., LA 71315) to Bryco Holding, LLC (511 Post Oak Blvd., Alex., LA 71303) - Lot 16, Blk 3, North Village (5220 Lacassine Dr., Alex., LA 71301), $25,000.00
 
Here are deals in August that we might learn something from.
 
Five Star Foods, Inc. (P O Box 485, Bunkie, LA 71322) to A.K.S. Petroleum, LLC Farhad Khaliq (P O Box 7971, Lake Charles, LA 70606) - Tract in Sec 51, T2NR1W, et al (500 Robinson Bridge Road, Woodworth, LA 71485), $400,000.00. A.K.S. Petroleum, LLC (3130 Richland Spring Lane, Sugar Land, TX 77479) to First Federal Bank of LA (P O Box 1667, Lake Charles, LA 70602) - Tract in Sec 51, T2NR1W, et al (500 Robinson Bridge Road, Woodworth, LA 71485), $340,000.00.This represents an 85% loan to value or $60,000 down for Exxon Station at Indian creek.  
 
Oxbow Marina, LLC Robert K. Fountain(3020 Hwy. 107, Pineville, LA 71360) to Price Co Development Corp. (1935 Melrose St., Pineville, LA 71360) - .739 acres in Sec 13, T3NR1E (100 Marina Road, Pineville, LA 71360), $100,000.00
 
Pearson Developments, LLC (6732 Dogwood Dr., Pineville, LA 71360) to EJC Enterprises, LLC Brian Caubarreaux (144 West Tunica Dr., Marksville, LA 71351) - Tract 1, Metro-Plex Subd., $1,200,000.00. EJC Enterprises, LLC (144 Tunica Dr. W, Marksville, LA 71351) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Tract 1, Metro-Plex Subd. (4501 Jackson St., Alex., LA 71303), $960,000.00. This represents a 80% loan to value or $240,000 for prime property on Jackson street extension.
 
ARC3 DGGDRLA01, LLC Jesse C. Galloway  (106 York Road, Jenkintown, PA 19046) to Goldman Sachs Commercial Mtg. Capital, LP (6011 Connection Dr., Suite 550, Irving, TX 75039) - 1.27 acres in Sec 1, T3NR4W, et al, $12,270,000.00. Multi Collateral mortgage on property highway 28 west and St. Clair road formerly belonging to Kenneth Lewin, this is the South West corner of St. Clair and 28 I think there is a Dollar General there.
 
Louisiana Rockwell, Inc. Thomas Wilson (1330 Jackson St., Alex., LA 71301) near the corner of 13th street and Jackson to HDJones Properties, LLC David Joones young attorney in town. (2319 Marye St., Alex., LA 71301) - Part of Lot 3, Sq 34 1/2, Jackson St. Subd., et al (1330 Jackson St., Alex., LA 71301), $255,000.00. Discussed this last week but wanted to add that David was able to retain all of his tenants.
 
Kay John Properties, LLC (P O Box 12656, Alex., LA 71315) to Ratcliff Construction Co., LLC (P O Box 7522, Alex., LA 71306) - 4.73 acres in Sec 53 & 56, T4NR1W (3900 Lee St., Alex., LA 71301), $700,000.00. 3900 Lee Street
 
Roofing mill located at Dallas and Broadway will be auctioned by Barbara Bonnette September 6, 2019. The land consisting of 44.22 acres, the building 172,760 sf. Plus all of the equipment will be sold in absolute auction by Barbara Bonnette. 
 
KCV Outparcel, LLC (109 North park Blvd., Suite 300, Covington, LA 70433) to Price Co Development Corp. (7929 Hwy. 3128, Pineville, LA 71360) - 1.685 acres in sec 36, T5NR1E, $107,000.00. Parcel size was 1.685 acres = $1.46 psf
 
Rumor that Rapides Hospital purchased Bowling Alley not true see attached flyer and floor plan for Four Season bowling plaza.
 
George M Johnson, et al to SDH Acquisition, LLC (3334 Hwy. 112, Lecompte, LA 71346) - 40.07 acres in Sec 18, T1NR1W, $500,000.00. This is George Johnson Nursery sale in Lecompte, Forest Hill area from the estate of George and Vera Johnson. The buyers are Stephen W. Head and Debra St. Romain Head from Lecompte.
 
Jewel & Jim's, LLC Erma Adams former office(900 Hiawatha Trail, Pineville, LA 71360) to KCSC Properties, LLC Burton Kolder and Russell Champagne (183 South Beadle Road, Lafayette, LA 70508) - Lot 20-B , Metro-Plex Subd. (1428 Metro Dr., Alex., LA 71301), $300,000.00.
 
Brandon D Tyler Dean Tyler  (67 Nation Road, Deville, LA 71328) to 1106 Main St., LLC Gregg Thompson(P O Box 7522, Alex., LA 71306) - 1.382 acre tract - no other description given, $90,000.00. Just the right size for Dollar General but cannot tell from legal description where?
 
Acreage Sales:
Andrea L Ford (163 Sweetwater Rim, Pineville, LA 71360) to Richard S & Miranda M Kellogg (P O Box 122, Forest Hill, LA 71430) - 9.558 acres in Sec 35, T1NR2W (24 Holden Road, Forest Hill, LA 71430), $43,500.00
 
Construction Contracts Recorded:
Hineston Water System, Inc. to USDA - .23 acres in Sec 35, T3NR4W, et al, $1,263,000.00 mortgage of interest not construction contract.
 
Speaking of contracts does anyone have a story about broken contacts for cotton delivery? I read in wsj broken commodity contracts for cotton is so severe it could collapse the commodity market for cotton.
 
England Authority Activity: None for the week.
 
People not Properties:
Our friend Lee Rubin is running for City Council and I missed it in the Town Talk as they have decided not to deliver a newspaper to our office any more. Thanks to all of you who choose to offer themselves for public service. Lee sold his business earlier this year and is ready for new stage in his professional career.
 
Robert Kinberger with Raymond James and not Edward Jones who manages part of our retirement, I stole some data for his electronic newsletter and attached it to the end of my transcripts.
 
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:
Five business days from August 27th through August 31st
  
(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:
During 5 business days of last week the market provided could not get a full week’s sales with court house being closed Wednesday and Thursday.
 
(+1.25) Lot Sales:
To rank positive score need one sale market gave us
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Jetty N Luneau (962 Scroggs Road, Centerpoint, LA 71323) - Tract in Sec 41, T4NR2E, $25,000.00

(+1.25) New Home Sales:
Looking for one new home sale for positive score and market gave us 
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Dong T Nguyen (5445 Provine Place Apt. 312, Alex., LA 71303) - Lot 237, Bocage Subd., Phase V (5818 Hannah Dr., Alex., LA 71303), $230,000.00
 
V & V Builders, LLC (P O Box 12850, Alex., LA 71315) to Erricka D Parker (27 Ragan Dr., Alex., LA 71303) - Lot 251, Bocage Subd., Phase V, $224,500.00
 
(+1.25) Lender Sales as Percent of Total Sales:
Rates positive score if lender sales are below 5% of total sales, this week market gave us
 
Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Richard J & Lillian L Langston (757 Blue Lake Road, Forest Hill, LA 71430) - Tract in Sec 2, T1NR1W, et al, $277,000.00
 
The salvo of distressed homes sales that was supposed to sink the housing market hasn’t show up yet.
 
Numbers         
2.1 million Single family homes on the market down from peak 3.4 million in July 2007
12% number of foreclosed sales as percentage of total market down from 17% year earlier
50 / 50 construction at 50% of what it was 50 years ago
$30 million Canadian dollars size of heist from maple syrup reserve in Quebec
75% of maple syrup consumer at I-Hops of America comes from Canada.
4.47 million annual rate of existing home sales as predicted by NAR
14% increase in condo sales from same time last year
24% distressed transactions down from 33% this includes short sales and foreclosed (I do not trust this number)
$187,300 median home price nationally for July
 
 
Interest rates: 30 year rate was 3.69% this week is 3.55%, the 15 year rate was 2.98% this week it is 2.90%, the 5/1 ARM was 2.87% now 2.98%.
 
Robert Kinberger weekly numbers (Robert is with Raymond James and manages some of our retirement accounts)
 
Indices

 

Last

Last Week

YTD return %

DJIA

13000.71

13057.46

6.41%

NASDAQ

3048.71

3053.40

17.03%

S&P 500

1399.48

1402.08

11.28%

MSCI EAFE

1463.96

1495.65

3.64%

Russell 2000

808.64

806.00

9.14%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.15

0.12

30-year mortgage

3.55

4.28

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.579

1.629

Dollars per Euro

1.250

1.442

Japanese Yen per Dollar

78.560

76.670

Canadian Dollars per Dollar

0.993

0.981

Mexican Peso per Dollar

13.391

12.509

 
Commodities

 

Last

1-year ago

Crude Oil

94.62

88.90

Gold

1655.20

1825.93

 
Bond Rates

 

Last

1-month ago

2-year treasury

0.24

0.23

10-year treasury

1.59

1.54

10-year municipal (TEY)

3.05

2.80

  
Economic Calendar
 

September 3

Labor Day Holiday (markets closed)

September 4

Market US Manufacturing Index (August, final)
ISM Manufacturing Index (August)
Motor Vehicle Sales (August)

September 5

Productivity (2Q12, revised)

September 6

ECB Policy Decision
ADP Payroll Estimate (August)
Jobless Claims (week ending September 1)
ISM Non-Manufacturing Index (August)
Obama Acceptance Speech

September 7

Employment Report (August)

September 12

German Court rules on European Stability Mechanism

September 13

Producer Price Index (August)
Fed Policy Meeting
Bernanke Press Briefing

September 14

Consumer Price Index (August)
Retail Sales (August)
Industrial Production (August)

 
 
 

 
 

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