Rod's Notes Archives for 2012-10

Rod's Notes For Wednesday 10/24/12


Rod Noles Property Management, Inc.

 

Rod's Radio Show Notes
October 24th 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 Was in Las Vegas Earlier Part of Last Week:
 
National Meeting for Commercial Realtors around the world CCIM. Highlight for me was panel of three economist and brief recap of their comments are as follows:
 
“I don’t think we’ll see another recession,” said Mark G. Dotzour, Chief Economist and Director of Research at Texas A&M University at yesterday’s CCIM Live Economic panel luncheon. “We have too much pent up demand.”
 
Dotzour had the most optimistic outlook of the three economists on the panel. He cited such factors as the uptick in U.S. household net worth, exploding Internet sales, and the decline of household debt service payments as indications of an economic recovery.
 
Fellow panelist Mark Vitner, managing director and senior economist with Wells Fargo, was less optimistic. “U.S. fiscal policy is mathematically unsound and unsustainable,” he said, explaining that, while we probably won’t go over the fiscal cliff, significant “fiscal drag” is certain to plague the U.S. economy in 2013. He cited the expiration of reduced Social Security taxes, new taxes linked to the new healthcare law, and the impending end of federal funding for unemployment benefits as contributing factors.
 
Suzanne Mulvee, Senior Real Estate Economist with Property and Portfolio Research offered a perspective on how the major commercial real estate property sectors are faring amid these economic circumstances. “The good news is that things are moving,” she said, citing falling vacancy rates in many markets. She explained that the multifamily sector will continue to be bolstered by Generation Y, but added that it might not be the best option for some investors. The office market, on the other hand, “has volatility going for it,” Mulvee said, noting an uptick in demand and a strong upside in rents. She also explained that a dearth of retail construction in the next three years will mean less retail square footage per capita and, thus, better quality retail space.
Five Louisiana candidates passed the final exam in Vegas. Here is the list, I wish one of our drive by reporters could reach one of these new CCIM and have them call into the show 318-442-8255
 
Chris Abadie
John Gilbert
Karen Hannigan
Jeremy Harson
Jason Ruggles
 
Other Speakers Included:
 
Mayor of Las Vegas Carolyn Goodman
James Murren CEO of MGM and development Manager for City Center
 
People Not Property:
 
First attachment is 1970 story about Fred Rosenfeld’s efforts in bringing professional basketball to Louisiana. Go to www.Rodnolespropertymanagement.com to see this article. Click on Radio Show Notes and open October 19th 2012 then scroll to the bottom.
 
Tip for the Week:
 
Third party web sites just fall short when compared to local MLS. A recent study was completed for Latter & Blum companies but following comments could apply to most of our locally owned companies. National Study
 
Local Real Estate Websites Offer the Most Complete
 Accurate Info about Homes for Sale
 
The WAV Group recently published a report that found local Real Estate company websites gave consumers the most complete, accurate and timely information about homes for sale. The study concluded that local Real Estate websites displayed 100% of listed homes compared to about 80% for the national portals, Trulia and Zillow. The report went on to say that local sites show newly listed homes for sale seven to nine days earlier than the national portals and that local sites almost never show homes listed as active that have already sold while 36% of listings on the national portals are no longer for sale.
 
Email from Rick Haase President Latter & Blum:
 
”As we consider whether to give our valuable listing content to various real estate advertising web portals, and if so which ones, it becomes more and more important that we stay informed about this changing landscape. The recently completed WAV Group study is enlightening and it speaks well of the investments we are making to ensure your listings are marketed to the public with the highest possible accuracy and completeness.
 
It turns out that many of these large third party real estate “portals” are incomplete, out of date, and very inaccurate. This places our websites (Agent & Company sites) in the enviable position of being more valid to buyer needs, more informative and therefore more trustworthy. Additionally, our websites all but eliminate your license law non-compliance risk. The liabilities associated with false and misleading listings advertising, which Agents/Brokers are incurring around the country because of these inaccurate sites, are real and costly. You can look forward to our continued guidance and support in this area.”
 
President Latter & Blum
Rick Haase
 
Every Deal has a Tale / Tail:
 
England Authority Deals:
 
Daniel & Robin Bordelon (84 Dottie Lane, Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 14, Dottie Land Extended, $80,500.00
 
WSJ article 10-18-2012 Headlines Read
“Home Builder Surges as Confidence Grows”

1.Residential construction running at its highest level in four years
2.Seasonally adjusted annual rate of 872,000 units
3.Up 15% from August
4.Up 34.8% from September 2011
5.July 2008 is last time market has seen construction at this level
6.National Association of Home Builders estimates each-home built generates 3 full time jobs
7.New building permits for future construction up 11.6% from previous month indicates annual starts of 894,000
8. Single Family homes make up 69% of residential starts that number is up 43% compared to September 2011
9.Lowest number of starts was 478,000 in April 2009
10.Historical number is 1.5 million per year to keep up with household formation
 
Reasons for the Jump
 
1.Consumers feel like home prices could begin to rise and know interest rates are low
2.Inventory of previously owned homes is down and foreclosed inventory is extremely low down 10.2% from last year
 
Local Indicators
 
1.V&V building 24 additional lots at Bogauge
2.Antoon Builders purchase land and lots from John Rodth will connect 3 streets to Versailles adding 15 lots
3.Past 60 days Tennyson Oaks has sold 12 lots only 10 remain in inventory, enough land for only 10 more lots
4.Lake District has sold 5 lots in past 30 days
5.Few more builders are rolling out new spec homes
6.Lending is still very cautious.
 
Emails from Listeners: 
 
Rickey Cruz just leased 4,300sf of space (Old Stines location) to Red Door Interiors based out of Baton Rouge. You can visit their website at http://www.reddoorinteriorsinc.com/ Expected grand opening will be early November.


 

Copeland’s of New Orleans Celebrates its
1 year Anniversary in Alexandria, LA
 
Thursday October 25th from 6:30pm to 9:30pm
Complementary glasses of champagne (to those of age)
Ladies night featuring the Gary Cathey Band
Happy Hour for all guests
$5 select appetizers and $5 martinis
 
ALSO OCTOBER 25th ONLY Copland’s will donate 20% of your bill to
CENLA Hope House if you mention this organization when receiving your bill
For more information visit: www.copelandsofneworleans.com

 
Construction Contracts:
 
Louisiana College (1140 College Dr., Pineville, LA 71360) to Tudor, Inc. (P O Box 13135, Alex., LA 71315) - LA College Cottingham Hall Roof, $379,000.00
 
LA Dept. of Military to BMC Retail Repair, Inc. (4832 Victoria Dr., Alex., LA 71303) - Modification to Zero Range 1A, Camp Beauregard Rand Area, $170,922.73
 
(+3.5) 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 October 15tht through 19th
 
(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:
 
$4,781,000 with 41 transactions rates a positive score.
 
(+1.25) Lot Sales:
 
To rank positive score need one sale market gave us two
 
West Pointe on the Bayou, LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 325, West Pointe on the Bayou Subd., Phase XII (205 West Bronson Dr., Alex., LA 71303), $22,000.00
 
Meril J Dufrene, Jr. (5123 Windermere Blvd., Alex., LA 71303) to V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) - Lot 68, St. Andrews Links Estates, Phase II (329 Links Dr., Alex., LA 71303), $55,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale for positive score and market gave a single sale for positive score. 
 
V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to David C Deville, Jr. & Jenna N Deville (210 West Bronson Dr., Alex., LA 71303) - Lot 357, West Pointe on the Bayou Subd., Phase XII, $298,500.00
 
(-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 two sales with total volume of $308,000 /  $4,881,000  = 6.30%
 
Sec. of HUD to Matt A Martin, III (1409 7th St., Glenmora, LA 71433) - Lots 4 & 5, Blk 4, Melder Addn., $26,000.00
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to James W McClung (703 Forrest Dr., Homer, LA 71040) - Lot 123, St. Andrews Links Estates, Phase III (273 St. Andrews Dr., Alex., LA 71303), $282,500.00
 
Interest Rates:
 
30 year rate was 3.43% this week is 3.46%, the 15 year rate was 2.83% this week it is 2.84%, the 5/1 ARM was 2.99% now 2.99%.


Creatures Wanted

Annual Vein Drain

Wed. Oct 31st from 11am-2pm

Join your fellow REALTORS® for this year’s Blood Drive.

Look for the Life Share Bus in front of Mac’s
 

 

 
 

Rod's Notes For Wednesday 10/19/12


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 was in Las Vegas earlier part of the week: National Meeting for Commercial Realtors around the world CCIM. Monday was the final exam and La. has six new CCIM designees Matt Ritchie and I were at the reception to pin them. I will have the list of six new CCIM designees from Louisiana next week. I when to South Carolina / LSU game got home around 1:30 am and left for Las Vegas Sunday got back Wednesday night around 8:00 PM.

 

Some of the things I learned and heard are not time sensitive and I will be reporting details over the next few shows. Could be Bobbi Walker (not sure of her married name) who is the daughter of Soozi Jones Walker CCIM and faculty member from Las Vegas will call the show either today or next week. Bobbi was in charge of the conference and it is 6:00 AM her time

.

Speakers included:

 

Mayor of Las Vegas Carolyn Goodman

James Murren CEO of MGM and development manager for City Center

Dr. Mark G. Dotzour chief economist for Texas A&M real estate department

Mark Vitner head economist for Wells Fargo

 

Attached to my notes is Phd. Loren Scott presentation to annual economic forecast in Baton Rouge last week. Will report some of the details in later shows.

 

Every deal has a tale / tail:

 

Dean Bentley, LLC to Hotel Bentley of Alexandria, LLC - 1.045 acres described as Sq 9, City of Alex. (200 DeSoto St., Alex., LA 71301), $3,400,000. While I was still the owner of Noles-Frye Realty Gary McKay wrote a purchase agreement for $5,000,000 all cash for the Bentley and I delivered it to Bob Dean. This was approximately 4 years ago and Dean turned down the offer and has been paying debt on $4,000,000 mortgage all that time. By turning down the McKay offer it probably cost Bob Dean $3,500,000.

 

JRT of Louisiana, Inc. (P O Box 12275, Alex., LA 71315) to Antoon Properties II, LLC (P O Box 222, Alex., LA 71309) - Lot 136, Fairfield Subd., Phase IV, et al (100 Belleau Wood Blvd., Alex., LA 71303), $245,000.00. Antoon Properties II, LLC (5300 Bayou Rapides Road, Alex., LA 71303) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Lot 136, Fairfield Subd., Phase IV, et al (100 Belleau Wood Blvd., Alex., LA 71303), $641,000.00. Tommy has purchased the remaining inventory both developed and undeveloped that John Rodth owned in Fairfield.

 

BATSC, LLC Vercher & Volman (P O Box 1110, Alex., LA 71309) to RDK Properties, LLC Richard Kyle (1423 Lee St., Alex., LA 71301) - Part of Lot 12, R C Baker Subd., $522,000.00. Former H&E location on Industrial drive presently leased to national trucking company address is 3302 Industrial drive consist of 1.85 acres. Richard owns property on both sides which brings him to Sterkyx on one side and one parcel from the corner of Lee Street.

 

The Romero Corp. (P O Box 5545, Alex., LA 71307) to Kisatchie Corp. (P O Box 1438, Winnfield, LA 71483) - .863 acres in Sec 33, T4NR1W, $404,000.00. Teddy Rae Price is now in the home health care business and this is the headquarters for that division.

 

Fred H & Robin M Ruggles to Randy D Greene (1718 Metro Dr., Alex., LA 71301) - .369 acres in Sec 26, T4NR1W, $134,370.28. This is a parcel on 28 West with 60.58’ frontage with depth of 250’ appears to be land on East side of shopping center where detail car business is located.

 

Nursery sale 3rd week in a row

Chome &Phounsavanh X Riengxay (121419 Hwy. 165 South, Glenmora, LA 71433) to Ricky D & Dana M Elliott (P O Box 434, Forest Hill, LA 71430) - 39.97 acres in Sec 27 & 28, T1SR2W, $175,000.00

 

Construction Contracts

 

Military Dept., State of LA to Tudor, Inc. (1412 Centre Court, Suite 500, Alex., LA 71315) - Construct new fire arms training simulator, Camp Beauregard Range Central, Pineville, LA, $500,000.00

 

Real Estate Mortgages above $1,000,000

 

GCM, LLC Fred Ruggles (6320 Coliseum Blvd., Alex., LA 71303) to Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) - 1.941 acres in Sec 26, T4NR1W (6320 Coliseum Blvd., Alex., LA 71303), $1,330,000.00. Strip center adjacent to LeGlue car dealership.

 

24K, LLC Mike Jenkins (201 Johnston St., Suite 101, Alex., LA 71301) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Lots 1 & 4, Sq 12, Old Town Addn. (201 Johnston St., Alex., LA 71301), $1,000,000.00. Commercial building at the corner of third and Johnston extends to Second Street.

 

(+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. 

 

Legal recorder data: five business days from time period of October 8tht through 12th

 

(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 was: $7,943,199 with 39 transactions which rates positive score for the week. Three commercial sales totaled $4,326,000 leaving balance of weekly volume at $3,617,199.

 

(+1.25) Lot sales: To rank positive score need one sale market gave us two plus the sale out of Fairfield’s remaining inventory to Tommy Antoon.

 

Commercial Partners, LLC (3219 Marye St., Alex., LA 71301) to Owen P Begnaud, et al (P O Box B, Grand Coteau, LA 70541) - Part of Lot 3, Elza Hebert Estates, $30,000

 

Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Francisco R Diaz, Jr. (305 West Dem Dr., Alex., LA 71303) - Lot 177, Tennyson Oaks Subd., Phase 7E (6224 Windy Oaks, Alex., LA 71301), $72,000.00

 

(+1.25) New home sales: looking for one new home sale for positive score and market gave us two condo sales. 

 

Weilland Enterprises, LLC (P O Box 1548, Alex., LA 71309) to Chawn M Texada (711 Toulouse St., Alex., LA 71303) - Lot 3-F, Village at Versailles Townhouses, Phase II-A (711 Toulouse St., Alex., LA 71303), $169,000.00

 

Weilland Enterprises, LLC (P O Box 1548, Alex., LA 71309) to Deidre B Hughston (5117 Hunters Grove Lane, Alex., LA 71303) - Lot 3-E, Village at Versailles Townhouses, Phase II-A (709 Toulouse St., Alex., LA 71303), $169,000.00

 

(+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 one sale well below 5% bar $39,900 / $7,943,199  = .005  In the last three weeks only 3 foreclosed properties have been sold.

 

Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite1000, Dallas, TX 75254) to Bryan M & Crystal L Norman (45 Nation Road, Deville, LA 71328) - Tract in Sec 9, T4NR3E, $39,900.00

 

Buying tip for the week: any national bank accounts with foreclosed properties buy should deal with the listing agent. Very few investments in this market niche are purchased in a co-op deal.

 

Interest rates: 30 year rate was 3.43% this week is 3.46%, the 15 year rate was 2.83% this week it is 2.84%, the 5/1 ARM was 2.99% now 2.99%.

 

Robert Kinberger financial comparisons: Wall Street calls them Indices.

 

Indices

 

Last

Last Week

YTD return %

DJIA

13326.39

13575.36

9.08%

NASDAQ

3049.42

3149.458

17.05%%

S&P 500

1432.84

1461.4

13.93%

MSCI EAFE

1513.77

1529.15

7.17%

Russell 2000

829.78

844.65

11.99%

 

Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.17

0.06

30-year mortgage

3.41

4.18

 

Currencies

 

Last

1-year ago

Dollars per British Pound

1.604

1.560

Dollars per Euro

1.294

1.364

Japanese Yen per Dollar

78.380

76.720

Canadian Dollars per Dollar

0.978

1.030

Mexican Peso per Dollar

12.883

13.356

 

Commodities

 

Last

1-year ago

Crude Oil

92.07

85.81

Gold

1769.60

1663.23

<br />

Bond Rates

 

Last

1-month ago

2-year treasury

0.25

0.23

10-year treasury

1.84

1.54

10-year municipal (TEY)

3.05

2.89

 

 

Rod's Notes For Wednesday 10/10/12


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 was there, In New Orleans “cheap seat” with our son, his girlfriend, and my son in law to witness Drew Brees record breaking Johnny Unita’s record of 47 consecutive games with touch down. Payton and Unita’s son were in attendance for the game and both had better tickets than Rod Noles.

 

What’s going on in Cedar Rapids, Iowa? Need a drive by reporter to call in from Iowa and explain WSJ article C-1 September 27, 2012. According to study by Equifax and Moody study that covers 80% of USA borrowers. Cedar Rapids, ranks 177th of 200 surveyed msa areas with highest percentage increase in consumer lending up 52% than same time 2006.

 

Largest drops in California and Florida

 

81% decline in Merce, Ca.

38% decline in Chicago

44% decline in Chicago

55% decline in Los Angeles

40% average decline in USA 

 

3 impacts sighted in study (1) tighter credit standards (2) decrease in loan demands for business expansion as companies’ helve expansion plans and (3) consumers trimmed spending

 

Those markets with an increase shared three common characteristics (1) low unemployment (2) stable employers and (3) real estate markets eschewed speculative bubble markets.

 

Need drive by reporter to call from Cedar Rapids 318-442-8255

 

FDIC Bank Deposits market share report June 30, 2012 Top 5 Alexandria MSA (metropolitan statistical area)

 

32.29%           Red River Bank

18.15%           Capital One

13.53%           JP Morgan Chase

  8.47%           Evangeline Bank

  5.77%           First Federal Bank & Trust Company

 

78.12%           Top 5 Banks

 

21.79%           12 other banks

 

Cannot confirm in writing that Bancorp South acquired bank in Western part of the state          

 

Every deal has a tale / tail:

 

Thieu H Le is d/b/a Happy Hails (6501 Coliseum Blvd., Suite 100B, Alex., LA 71303) first retail tenant facing Wal-Mart in former Century Tel building

 

Firstchoice Property & Development, LLC Greg Kelly (219 Hwy. 45 West, Humboldt, TN 38343) to Beau Rivere, LLC Tynes E. Mixon III (3305 E Old Spanish Trail, New Iberia, LA 70560) - 1.734 acres in Sec 3 & 10, T3NR1E, $1,517,000.00. Beau Rivere, LLC (3305 E Old Spanish Trail, New Iberia, LA 70560) to Vermillion Bank & Trust Co. (211 Main St., Gueydan, LA 70542) - 1.734 acres in Sec 3 & 10, T3NR1E (4826 Hwy. 28 E, Pineville, LA 71360), $766,687.00. Freds Store in Pineville, La.

 

Kathryn K Gawthrop, et al (104 Woodridge Circle, Pineville, LA 71360) to Pamela J Bynog (1801 Sunburst Lane, Pineville, LA 71360) - Lot 33, Brookhaven Subd., $139,900.00. Great time share story about Guy and Kathy as agents they purchased rental properties.

 

Tootsie, LLC (1405 Metro Dr., Building 1, Alex., LA 71301) to ABM Development, LLC (3330 Jackson St., Alex., LA) - Lot 18, Mansour Addn. (5411 Mansour Ave., Alex., LA 71302), $67,500.00. ABM owns nearly all of the duplexes on Mansour drive.

 

Nursery sales:

 

Thongsavanh Souvannarath (30234 Cupeno Lane, Temecula, CA 92592) to Phouthone Xanamane (1241 Pate Dr., Glenmora, LA 71433) - 10 acres in Sec 29, T1SR2W, $27,000.00

 

Phouthone Xanamane (1241 Pate Dr., Glenmora, LA 71433) to Santos Rubio (P O Box 265, Forest Hill, LA 71430) - 10 acres in Sec 29, T1SR2W, $30,000.00

 

Church sales:

 

Kenneth W Mott, Trustee of the George K Mott & Mary A Mott Living Trust (1312 Mohon St., Alex., LA 71301) to Calvary Baptist Church (5011 Jackson St., Alex., LA 71301) - Lot 3, Blk 1, Camellia Place Subd. (1312 Mohon St., Alex., LA 71301), $320,000.00. Corner of Mohon and Jackson is owned by the church this is the next home and then the church owns next two homes. Calvary owns lot 595feet on Mohon.

 

Ransville Realty Corp. (5303 Random Dr., Alex., LA 71302) to Baptist Temple (4200 MacArthur Dr., Alex., LA 71302) - Lots 6 & 7, Blk 2 of the re-subdivision of Lakeside Subd., $160,000.00 or $2.64 psf. This is the corner of Random Drive and MacArthur 60,583 square feet or 1.39 acres adjacent to the church. Former Jim Walters lot on MacArthur

 

Crop of Engineers web site: google New Orleans District Corp of Engineers click on permit site or http://www.mvn.usace.army.mil/ops/regulatory/index.asp go to “Public Notice” look at wetland permits in Rapides Parish can see Jerome Karam’s plans to develop a duplex subdivision behind Century Tel property. This is a great look behind the curtain for permit work happening in our back yard.

 

Armour building on lower Third coming down, I once owned this building with Mark Oray we paid $12,000 for it and Mark later purchased my share and used the building for his construction warehouse. It’s a shame the community will lose this structure. http://www.mvn.usace.army.mil/ops/regulatory/index.asp

 

Weyerhaeuser Announces Manufacturing Expansion In Natchitoches

From Louisiana Economic Development

NATCHITOCHES, La. - Today, Gov. Bobby Jindal and Weyerhaeuser Company Plant Manager Steve Story announced a $6 million capital investment by  Weyerhaeuser that will retain 175 jobs and create 30 new jobs at the company's Natchitoches forest products plant.

 

The company will modernize and upgrade equipment that will lead to more productive operations at the Weyerhaeuser Engineered Lumber Products site, with the new direct jobs paying an average salary of more than $31,000, plus benefits. LED estimates the project will result in an additional 77 new indirect jobs in the area.

 

Gov. Jindal said, "Weyerhaeuser began their forest products operations in our state over 100 years ago, and it employs over 800 people in Louisiana. We're proud that Weyerhaeuser chose to expand and modernize its operations right here in our state because of our strong business climate and incomparable workforce. This expansion demonstrates our strong commitment to growing Louisiana's businesses and moving our economy forward."

 

At the 250,000-square-foot facility in Natchitoches, Weyerhaeuser produces I-joists under the Trus Joist® brand and laminated veneer lumber and structural header and beams under the Microllam® brand.

 

LED's Business Expansion and Retention Group, or BERG, began working with Weyerhaeuser on expansion opportunities in April. To secure the project, the state offered the company a $300,000 Modernization Tax Credit, payable over five years, and the customized services of LED FastStart™ - ranked the No. 1 state workforce development training program in the nation. Weyerhaeuser also is expected to utilize Louisiana's Industrial Tax Exemption and Quality Jobs incentive programs.

 

Hiring for the new direct jobs is under way and will be completed within the next two years. Construction will start early next year and will be completed by the end of 2013. Altogether, the company employs 845 people in 10 Louisiana communities: Arcadia, Bogalusa, Dodson, Holden, Livingston, Mandeville, Natchitoches, Ruston, Taylor and Zwolle.

 

Email from listener and good friend Mike Haynes

Rod,  my son Chris just opened up a 10 space  RV park adjacent to  St..Mary’s  on Hwy  1 – between Rapides  Station Road  and Air Base Road.  www.alexandrairvpark.com. He has got a great  little spot and  it took over 2 years to get it develop.

 

(+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 October 1st through 5th

 

(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.   

 

(-1.25Total weekly volume was $4,845,814 with 37 sales for negative weekly score. Smallest sale was $4,000 largest sale was $1,517,000.00.

 

(+1.25) Lot sales: To rank positive score need one sale market gave us two sales.

 

DJH Real Estate Investments, LLC (1104 Palmer Chapel Road, Pineville, LA 71360) to Hogan R Wray - 3.189 acres in Sec 9, T1NR3W, $15,900.00

 

Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Steven L & Tami C Banick (P O Box 13727, Alex., LA 71315) - Lot 173, Tennyson Oaks Subd., Phase &E (6328 Windy Oaks, Alex., LA 71303), $80,000.00

 

(+1.25) New home sales: looking for one new home sale for positive score and market gave us three.

 

V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Michael & Samantha Markley (25018 Gerald Ave., Calcium, NY 13616) - Lot 252, Bocage Subd., Phase V (25 Ragan Dr., Alex., LA 71303), $211,590.00

 

Thomas Bolton Properties & Construction, LLC (4821 Porter Circle, Alex., LA 71303) to Tamaney C & James E Ham (1320 Stanley Road, Lake Charles, LA 70605) - Lot 218, Bocage Subd., Phase V (5842 West Austin, Alex., LA), $237,424.20.

 

Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) to Justin L & Chrissy R Morton (3022 Wesley Circle, Woodworth, LA 71485)- Lot 132, Country Club Place, Phase VI, $225,000.00

 

(+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 only 2 sales total sales volume of $43,500 / $4,845,814 = 2.35%. Remember last week there were zero foreclosed sales.

 

Federal National Mtg. Assoc. to John D Connella, Jr. & Lindsay W Connella - Lots 4 & 5, Sq 1, Belaire Place (10 Chester St., Alex., LA 71301), $25,500.00

 

Red River Bank (1412 Centre Court, Alex., LA 71301) to Lawrence M Dunn, Jr. 7 Jackie A Dunn (2098 Emmanuel Road, Lena, LA 71447) - 1.65 acres in sec 43, T4NR1W (8645 Hwy. 1200, Boyce, LA 71409), $18,000.00. Only other foreclosed property in their inventory is $47,500 lot on Versailles.

 

Interest rates: 30 year rate was 3.40% this week is 3.44%, the 15 year rate was 2.83% this week it is 2.84%, the 5/1 ARM was 2.96% now 2.97%.

 

Number only I find interesting

 

1% who are also the 47%               2,362 people collected unemployment benefits in 2009 despite living in HH that earns $1, 000,000

 

 

Robert Kinberger financial comparisons: Wall Street calls them Indices.

Indices

 

Last

Last Week

YTD return %

DJIA

13575.36

13485.97

11.11%

NASDAQ

3149.46

3136.601

20.40%20.89%

S&P 500

1461.40

1447.15

16.21%

MSCI EAFE

1529.15

1526.25

8.25%

Russell 2000

844.65

843.54

14.00%

 

Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.17

0.08

30-year mortgage

3.40

4.00

 

Currencies

 

Last

1-year ago

Dollars per British Pound

1.618

1.539

Dollars per Euro

1.302

1.327

Japanese Yen per Dollar

77.340

76.840

Canadian Dollars per Dollar

0.981

1.061

Mexican Peso per Dollar

12.751

13.919

 

Commodities

 

Last

1-year ago

Crude Oil

91.71

75.67

Gold

1792.18

1621.45

<br />

Bond Rates

 

Last

1-month ago

2-year treasury

0.25

0.24

10-year treasury

1.71

1.62

10-year municipal (TEY)

2.89

3.00

 

 

 

Rod's Notes For Wednesday 10/03/12


Rod Noles Property Management, Inc.

 

Rod’s Radio Show Notes
October 3rd 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:
 
Great Website for Ok Allen Bridge
 
http://www.dotd.la.gov/administration/public_info/projects/FortBuhlowBridge/home.aspx
 
Carol B Rice (105 Firefly Lane, Lafayette, LA 70507) to Nomo, LLC (4615 Parliament Dr., Suite 100, Alex., LA 71301) - Lot 17, Blk 2, Plantation Acres Subd., Part 1 (1605 Magnolia Dr., Alex., LA 71301), $85,000.00. Third rent house I’ve purchased this year. If Warren Buffet and Rod Noles think it is a good investment what are you waiting on?
 
Jerry Johnson is the investor who is remodeling former 7-11 on highway one purchased property for less than $20,000 and must be spending $50,000 or more on the roof. Jerry is savvy investors and has a tenant in tow or will grab a tenant by the toe. It will be rented.
 
Mini Storage sales Lester P Mallette (P O Box 69, Tioga, LA 71477) to Drennan Equity Pineville, LLC Karen Criswlll Drennan (4905 Monroe Hwy., Ball, LA 71405) - 2.303 acres in Sec 1, T4NR1W, et al (2549 Monroe Hwy., Pineville, LA 71360), $4,200,000.00
 
Bayou Rapides, LLC (700 Veterans Dr., Alex., LA 71301) to Bayou Rapides Properties, LLC Charles Dewayne Ollson (8782 Hwy. 1200, Boyce, LA 71409) - 5.98 acres being part of Lot 55, Experiment Plantation (700 Veterans Dr., Alex., LA 71031), $2,495,000.00. Bayou Rapides Properties, LLC (8782 Hwy. 1200, Boyce, LA 71409) to Red River Bank (1412 Centre Court Dr., Suite 103, Alex., LA 71315) - 5.98 acres being part of Lot 55, Experiment Plantation (700 Veterans Dr., Alex., LA 71031), $2,000,000.00
 
Checkerboard, LLC John Tudor to Kevin R Williams Enterprises dba Paradise Catfish Restaurant (171 Alma Dr., Pollock, LA 71467) - 6500 sq ft located at 2049 North Mall Dr., Alex., LA 71302 for 10 years @ $7,000 per month.
 
Mykoff Absorption Report:
 
6.38    entire market 632 homes / 99 sold in September = 6.38 months’ supply
9.33    $400,000 up 28 homes / 3 sold = 9.33 month’s supply
7.67    $250,000 to $400,000 total homes for sale 69 / 9 sold = 7.67 months’ supply
4.89    $150,001 to $250,000 total homes for sale 186 / 38 sold = 4.89 months’ supply
7.12    under $150,000 total homes for sale 349 / 49 sold = 7.12 month’s supply
 
Construction Contracts Recorded:
 
LA DOTD to Diamond B Construction Co., LLC - 38.88 miles of road work on I-49, $9,523,721.20
 
LA Military Dept. to T L Construction, LLC - Renovations for range control building 5102, Camp Beauregard, $169,159.00
 
Joe Clements, Clements Management, LLC (3003 Old Forge Dr., Baton Rouge, LA 70808) to Greg T Watts, President Watts Real Estate, Inc. (27037 Greenwell Springs Road, Greenwell Spring, LA 70739) - Burger King-Lecompte (3000 Hwy. 112, Lecompte, LA 71346), $2
 
Kingsville Baptist Church (3911 Monroe Hwy. 165, Ball, LA 71405) to Ace Roofing, Inc. (102 Pod St., Lafayette, LA 70507) - Re-roofing multi-purpose staff office and educational facility, $151,816.00
 

HOPE HOUSE OF CENTRAL LOUISIANA NEWS RELEASE

 

October 2, 2012, Hope House of Central Louisiana purchased from the Central Louisiana Community Foundation 5115 South MacArthur Drive, Alexandria, Louisiana.

This purchase closes Hope House’s several year search for a facility to provide more space to serve more women and children. This property surpasses our expectations because it provides a larger and preferable space. Our present and future residents will cherish their time at their new home. Hope House outgrew its current location and over the past 23 years has served over 4,000 homeless women and children. Tragically, the waiting list continues to grow. However, the new location increases bed space, increases program capacity and provides additional privacy for residents as they strive to achieve independence. Homelessness is a growing issue in our region. Hope House is considered a leading agent in the community and works tirelessly in collaboration with many other agencies in addressing long term solutions in the fight to end homelessness.
 
 
(+5)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 24th through September 28th   
 
(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:
 
$12,151,750 one of the highest volumes since I have been tracking on 53 transactions. This was just a Wow week, glad I had couple of my own deals in this avalanche of transactions.
 
(+1.25) Lot Sales:
 
To rank positive score need one sale market gave us five with 100% of lots coming from developer’s inventory. Record price paid for single lot at the entrance to Land Mark $187,500
 
Betty P Lofton Revocable Trust (P O Box 12461, Alex., LA 71315) to Michael A & Melissa K Shelton (P O Box 13525, Alex., LA 71315) - Lot 4, Landmark Subd. (2016 Horseshoe Dr., Alex., LA 71301), $187,500.00
 
Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to George W & Becky E Bausewine (6510 Arden Oaks, Alex., LA 71301) - Lots 202 & 203, Tennyson Oaks Subd., Phase 7-C, $125,000.00
 
Vanmol & Sons, LLC (P O Box 407, Woodworth, LA 71485) to Van N Huunh and Vu N Tran (2827 Hwy. 107, Pineville, LA 71360) - Lot 44, Ocho Rios Subd., Phase 1-B, $28,000.00
 
Olson's Properties, LLC (8782 Hwy. 1200, Boyce, LA 71409) to William C Machen (100 Robinson Road, Alex., LA 71033) - Lot 16, Colina Heights Subd., $20,000.00
 
Donald P Moriarty, II & Diana M Moriarty (1016 Orange Blossom Circle, Village Park, CA 92861) to Carl S & Deborah M Bess (Lot 75, Timberlake, Phase IV, Woodworth, LA 71485) - Lot 75, Timberlake Subd., Phase IV, $30,000.00
 
Carl S & Deborah M Bess (398 Timber Ridge Dr., Woodworth, LA 71485) to Robert L Hollingsworth (P O Box 12385, Alex., LA 71315) - Lot 75B, Timberlake Subd., Phase IV, $15,000.00

(+1.25) New Home Sales:
 
Looking for one new home sale for positive score and market gave us three home sales. 
 
Shane Dauzat Construction, LLC (5854 Twin Bridges Road, Alex., LA 71303) to Deidra G Blackman (5716 Southside Dr., Alex., LA 71301) - Lot 34, H H Faust Subd. (5716 Southside Dr., Alex., LA 71301), $143,000.00
 
Jeff Porter Investments, LLC (42 Philadelphia Road, Pineville, LA 71360) to Scott R Shovan (309 Legacy Dr., Pineville, LA 71360) - Lot 58, Woodlake Subd., Phase V-A (135 Woodlake Dr., Pineville, LA 71360), $229,000.00
 
V & V Properties, LLC (P O Box 128469, Alex., LA 71315) to Carla P Guillory (514 West Shore Dr., Alex., LA 71303) - Lot 114, West Pointe on the Bayou, Phase V, $277,500.00
 
(+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 one sale total volume under $11,000.
 
J P Morgan Chase Bank to Larwood Properties, LLC (314 SW Main St., Bunkie, LA 71322) - Lot 19, Sq 2, West Alex. Addn. (1137 1139 Madison St., Alex., LA 71301), $10,900.00

Interest Rates:
 
30 year rate was 3.40% this week is 3.46%, the 15 year rate was 2.83% this week it is 2.93%, the 5/1 ARM was 2.96% now 2.93%.
 
Numbers of Interest:
 
$2.4 billion    Loyld’s Insurance profit 1Q12
$155 million  Loyld’s loss same time last year
30%              Home price decline measure against median price 2006
5.9%             Increase average home price first 7 months of this year
16.6%           Increase avg. home price in Phoenix from last year
5.9%             Decline home prices in Atlanta from last year
$750             Price per share of Goggle stock
 
 
 

Robert Kinberger financial comparisons:
Wall Street calls them Indices

 
Indices

 

Last

Last Week

YTD return %

DJIA

13485.97

13596.93

10.38%

NASDAQ

3136.60

3175.96

20.40%

S&P 500

1447.15

1460.26

15.07%

MSCI EAFE

1526.25

1545.77

8.05%

Russell 2000

843.54

851.51

13.85%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.08

0.10

30-year mortgage

3.41

4.09

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.622

1.565

Dollars per Euro

1.290

1.360

Japanese Yen per Dollar

77.650

76.570

Canadian Dollars per Dollar

0.981

1.019

Mexican Peso per Dollar

12.839

13.367

 
Commodities

 

Last

1-year ago

Crude Oil

91.85

84.45

Gold

1777.60

1657.43

Bond Rates

 

Last

1-month ago

2-year treasury

0.23

0.24

10-year treasury

1.61

1.59

10-year municipal (TEY)

3.02

3.22

 


Mykoff Monthly Comparison Absorption Report

 

 

2012

Jan

Feb

March

April

May

June

July

Aug

Sept

 

 

 

 

 

 

 

 

 

 

Currently listed

690

640

651

633

616

656

660

650

632

Sold

62

80

121

89

101

94

111

94

99

Came on the Market

109

102

134

121

130

146

138

129

115

Current Monthly Supply

11.1

8

5.38

7.11

6.1

6.66

5.95

6.91

6.38

 

 

 

 

 

 

 

 

 

 

$400,001 and Up

 

 

 

 

 

 

 

 

 

Currently listed

28

27

30

25

29

24

29

27

28

Sold

3

2

4

1

2

1

4

0

3

Came on the Market

1

4

6

2

8

1

3

5

4

Current Monthly Supply

9.3

13.5

7.5

25

14.5

24

7.25

27

9.33

 

 

 

 

 

 

 

 

 

 

$250,001-$400,000

 

 

 

 

 

 

 

 

 

Currently listed

70

63

69

68

61

63

67

75

69

Sold

3

10

9

8

6

11

10

11

9

Came on the Market

12

4

19

10

11

15

17

21

11

Current Monthly Supply

23.3

6.3

7.67

8.5

10.17

5.73

6.7

6.82

7.67

 

 

 

 

 

 

 

 

 

 

$150,001-$250,000

 

 

 

 

 

 

 

 

 

Currently listed

192

166

175

170

170

185

190

195

186

Sold

16

18

37

32

29

28

31

26

38

Came on the Market

32

22

39

38

41

44

41

39

36

Current Monthly Supply

12

9.22

4.73

5.31

5.86

6.61

6.13

7.5

489

 

 

 

 

 

 

 

 

 

 

Under $150,000

 

 

 

 

 

 

 

 

 

Currently listed

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