Rod's Notes Archives for 2012-12

Rod's Notes For Wednesday 12/19/12


Rod Noles Property Management, Inc.

 

 Rod’s Radio Show Notes
December 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).

 
I will not be back on the show until after Christmas: Merry Christmas to Bob, Dave, staff at Cenla broadcasting, and our listening audience. My next show will be January 2, 2013.
 
Announcements and Travel:
 
Another week end in New Orleans and I can report that you must walk through Roosevelt Hotel Lobby at Christmas. I talked with newspaper columnist John Maginnis in the lobby. Second Christmas surprise was Fulton Street next door to Harrah’s hotel is beautiful and hoping with new Manning restaurant. When time permits and it did this trip I make an appointment to have a shave a Adian Gill. This is $35 luxury that is almost worth the price.
  
Sugar Bowl Tickets for Sale: 

Friend of mine has 4 tickets together in the Loge section 309 row 6 about the 10 yard line for $200.00 a piece which is face value for sale. Call Robert Penisk if you are interested.
 
Robert C. Penick, Ph.D.
Vice President and Treasurer
Chief Financial Officer
Latter & Blum/ C. J. Brown Realtors
225-297-7835 Direct Number
 
Rumor of the Day:

Golden Corral Steak House in former Carl Wynn auto leasing center in pad location in front of Sutherland Lumber Supply. Mark Dusang from New Orleans office of the shopping center owner confirmed rumor was correct.
 
Concrete work around McDonalds at Lee and MacArthur Ransbottom property, I am asking Priscilla to call in and give us the prices on these two parcels. 1.2 acres between Pizza Hut and McDonalds $250,000 & .8 acres at 5001 Lee Street $115,000.
 
Latter & Blum acquires Denham Springs Real Estate Company news from last week this week:
 
In an announcement meeting earlier today, M. A. Allen Company founder Mary Ann Allen announced that her company is joining C. J. Brown’s Denham Springs Office. Their existing M. A. Allen office at 1208 South Range Ave will now operate as C.J. Brown and, along with our current location, will be managed by Tess Boudreaux. M. A. Allen’s 40 Sales Agents will join the 250 + Sales Agents of C. J. Brown in a transaction which closes 12/31/2012. We anticipate that Agents of M. A. Allen will begin affiliating now and continue through the month of December.
 
This week Van Eaton & Romero of Lafayette merged with Latter & Blum.

The combined companies now will rank as the 34th largest real estate company in America based on annual unit sales.
 
By joining forces, these two longstanding and esteemed Louisiana brands will expand the leadership position already held by Latter & Blum Inc./REALTORS in the New Orleans market, by C.J. Brown REALTORS® in the Baton Rouge market and Noles-Frye Realty in Central Louisiana (companies owned by Latter & Blum Inc.). In 2012, The Latter & Blum Family of Companies will finish the year with nearly $1.8 billion in total sales and 8,400 total units sold.  This addition, positions Latter & Blum Inc. for continued success in the local, regional, national and global Real Estate markets. Now with a combined strength of more than 1,300 talented sales professionals throughout Louisiana and the largest market share in each of the regions we serve, our future is filled with exciting possibilities.”
 
The two companies will retain their respective names, Van Eaton & Romero, REALTORS in the Lafayette market and Latter & Blum Inc./REALTORS® serving the Greater New Orleans market. With C.J. Brown REALTORS® Inc. in Greater Baton Rouge and Noles-Frye in the Central Louisiana region, these four companies represent the best in Real Estate in Louisiana. 
 
People Not Property:
 
Attakapas magnificent ½ dozen: Emile Oestreicher, Don Baker, Ann Masden, Father Bruce Miller, Rev. Bob Vincent, and Jay Bolen special thanks for their work in purchasing 166 acres at Trout, La. If one of our listeners knows more about the history and fund raising efforts give us a call.
 
Mayor Dan Hollinsworth must be happy to discover that Ruston is a top retirement destination so says magazine titled “Where to Retire” article say 700,000 relocate to new towns for retirement. My comment is if they all move to Ruston the largest city in La. will now be in a 318 area code. Go Dogs.  
 
England Authority Sales:
 
Johnnie W Eznack, et al (365 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 2.97 acres in Sec 13, T4NR2W, $61,000.00
 
Mike the unhappy client: If you are wondering what happen with client that called in last week I will tell you at the end of our show if time permits. Appreciate the jabs and condolences from many listeners.
 
Every Deal has a Tale / Tail:
 
J P Morgan Chase Bank (7301 Baymeadows Way, 2nd Floor, Jacksonville, FL 32256) to Campbell Appraisals, Inc. (1038 Amber Lane, Pineville, LA 71360) - Lot 3, Indian Creek Park Subd. (201 Belle Trace, Lecompte, LA 71346), $126,500.00. I bid $131,500 at Sheriff Sale and lender list the property and 90 days later sells it for $126,500 at difference of $12,590 net to the seller.
 
Barbara E Desselle (404C Ansley Blvd., Alex., LA 71303) to William O Blacksher, III (6028 Stonegate Dr., Alex., LA 71303) - Lot 20, Bayou Court Townhomes (963 Bayou Trace Dr., Alex., LA 71303), $125,000.00. When we first converted these to condos they were selling between $45,000 to $55,000 and I begged everyone on our staff to buy a unit.
 
Highway 28 Condos, LLC (6501 Coliseum Blvd., Alex., LA 71303) to The Evangeline Bank (P O Box 12900, Alex., LA 71315) - Lot 6, Plaza 28 (6501 Coliseum Blvd., Alex., LA 71303), $3,660,055.45. Based on public notice for wetland permit developer plans to build several duplex apartments.
 
Carroll Furniture is Going Out of Business:
 
Priscilla Perry and I just listed Carroll’s Furniture at 1819 Memorial Drive today for $1,600,000. The primary building is 51,110sf of showroom, office and warehouse. The secondary building is a 16,000sf self-sufficient 100% leased, income producing RV storage rental. The storage rents are below market, but still bring in $60,000 a year in revenue. Both buildings sit on 5 acres. Carroll’s Furniture is going out of business, but will continue to occupy the space until we find the right buyer.
 
Construction Contracts: $1,852,243 recorded last week
 
Pineville Housing Authority (2731 Hwy. 28 E, Pineville, LA 71360) to T L Construction, LLC (P O Box 12893, Alex., LA 71315) - Modernization improvements 28 East Apts., $173,223.00
 
City of Alex. to KDC Construction Co., LLC - Improvements to Frank O Hunter Park, $1,679,020.75
 
Preview on Predictions for 2013:

Would like for our listeners to phone in with what they think will happen in our market next year. I will have 10 market predictions next week. One will be that South traffic Circle will still be with us at the end of 2013. Sometime in 2013 we will have a five week run of perfect “REI”. First show next predictions that will entertain and hopefully you can profit from. Today I am asking our audience to make 2013 predictions regard market, developments, or personalities.
 
Tax Tips for Year-End:

Too late for planning and nearly too late to act. You can pay your January house note in December or any other mortgage for that matter. Make sure you pay year-end expense real estate taxes etc. Neat installment trick is owner finance with down payment 12-31-12 first payment 1-1-13 and final payment 1-1-14 spread sale over three tax years with 12 months and one day receipt of payments.
 
(+2.50) 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 December 10th through 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:
 
Total volume of $2,823,907 with 32 transactions rates a negative score. I predict that my next show will have high closing volume for the week as property owners look at sale this year for more favorable tax treatment.
 
(+1.25) Lot sales:

To rank positive score need one sale per week the market gave us four sales
 
Raymond D Hughes, Jr., et al (1732 Hwy. 1204, Pineville, LA 71360) to Brittan & Sons Construction, LLC (5521 Jackson St. Ext., Alex., LA 71303) - 1.724 acres in Sec 2, T4NR1W (2741 Rigolette Road, Pineville, LA 71360), $16,174.16
 
C Babson Fresh (900 Windermere Blvd., Alex., LA 71303) to V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) - Lot 59. St. Andrews Links Estates, Phase II, et al (293 Links Dr., Alex., LA 71303 & 233 St. Andrews Dr., Alex., LA 71303), $65,000.00

Robert Rayford, Jr. & Betty A Rayford (243 Wilderness Dr., Boyce, LA 71409) to Elbert G & Dorothy M Fuqua (3002 Hwy. 107, Pineville, LA 71360) - Lot 89, Woodlands, Phase IV, $36,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week for positive score market provided one for positive score.
 
V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Wilton A Guillory, III (203 West Bronson Dr., Alex., LA 71303) - Lot 326, West Pointe on the Bayou, Phase XII, $277,500.00
 
(-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 three sales with total volume of $169,900 / $2,823,907 = 6.01% for negative score.
 
J P Morgan Chase Bank (7301 Baymeadows Way, 2nd Floor, Jacksonville, FL 32256) to Campbell Appraisals, Inc. (1038 Amber Lane, Pineville, LA 71360) - Lot 3, Indian Creek Park Subd. (201 Belle Trace, Lecompte, LA 71346), $126,500.00
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to Michael & Krysten Newman (129 Rabbit Lane, Lot 2, Hessmer, LA 71341) - Lot 3, Sq 13, Silver City Subd., $6,900.00
 
Federal National Mtg. Assoc. to Jada Investments, LLC (P O Box 12203, Alex., LA 71315) - Lot 20, Blk A, Kelley Land Subd., $36,500.00

Interest Rates:

30 year rate was 3.39% this week is 3.41%, the 15 year rate was 2.80% this week it is 2.85%, the 5/1 ARM was 2.76% now 2.74%.
 
Mykoff Absorption Rate:
 
5.95    Total Market beginning of November 660 homes on market 138 sold = 5.95 sell off time
7.25    Market $400,001 and up 29 on market 3 sold = 7.25 sell off time
6.7      Market between $250,001 and $400,000 67 on market 17 sold = 6.7 sell off time
6.13    Market b/t $150,001 and $250,000 number on market 190 and 41 sold = 6.13 sell off time
5.52    Market below $150,000 on market 364 and 66 sold = 5.52 sell off time
 
Total market 111 properties sold in November within Central Louisiana MLS and 138 new properties came on the market.
 
Acreage Sales: 
 
Patricia G Cruse (1147 Masterson Dr., Baton Rouge, LA 70810) to Ward C Hooter, II (404 Hillcrest Dr., Alex., LA 71301) - 120 acres in Sec 42, T5NR1E, $252,000.00
 
Indices

 

Last

Last Week

YTD return %

DJIA

13170.72

13074.04

7.19%

NASDAQ

2992.16

2989.27

14.48%

S&P 500

1419.45

1413.94

12.39%

MSCI EAFE

1583.77

1569.46

13.66%

Russell 2000

824.20

821.79

10.63%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.18

0.07

30-year mortgage

3.34

3.94

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.610

1.553

Dollars per Euro

1.307

1.308

Japanese Yen per Dollar

83.470

77.940

Canadian Dollars per Dollar

0.985

1.029

Mexican Peso per Dollar

12.821

13.785

 
Commodities

 

Last

1-year ago

Crude Oil

85.89

100.14

Gold

1696.99

1657.72

Bond Rates

 

Last

1-month ago

2-year treasury

0.23

0.24

10-year treasury

1.70

1.60

10-year municipal (TEY)

2.80

2.85

 
 
December 12, 2012
FOR IMMEDIATE RELEASE
Contact: Stephen Waring
Direct Line: (504) 569-9323
Mobile: (504) 373-7889
Email: swaring@latterblum.com
 
 
Van Eaton & Romero REALTORS® Joins Forces With LATTER & BLUM Inc.
 
New Orleans, LA –Latter & Blum Inc. and Van Eaton & Romero REALTORS® today announced that the companies have finalized an agreement that will bring together two of the regions’ most respected real estate brands. Effective immediately, this partnership with Van Eaton & Romero increases the size of the residential Real Estate companies of Latter & Blum Inc., already the largest real estate brokerage in the Gulf South, by approximately 28 percent, and will rank it as the 34th largest in the United States by unit sales. 
 
By joining forces, these two longstanding and esteemed Louisiana brands will expand the leadership position already held by Latter & Blum Inc./REALTORS in the New Orleans market, by C.J. Brown REALTORS® in the Baton Rouge market and Noles-Frye Realty in Central Louisiana (companies owned by Latter & Blum Inc.). In 2012, The Latter & Blum Family of Companies will finish the year with nearly $1.8 billion in total sales and 8,400 total units sold.  This addition, positions Latter & Blum Inc. for continued success in the local, regional, national and global Real Estate markets.
 
“This newest alliance will lead to unprecedented financial strength, growth and breadth of service offerings,” said Bob Merrick, Chairman and CEO of Latter & Blum Inc. “Both Van Eaton & Romero and Latter & Blum are known nationally as companies that bring the highest caliber of residential Real Estate professionalism to all aspects of the business. Now with a combined strength of more than 1,300 talented sales professionals throughout Louisiana and the largest market share in each of the regions we serve, our future is filled with exciting possibilities.”
 
“Throughout the years, both Latter & Blum and Van Eaton & Romero have shared similar company cultures,” added Rick Haase, President of Latter & Blum Inc. “Our mission statements are also equally aligned, promising the delivery of exceptionally high levels of customer service. This union speaks volumes about an unparalleled commitment to delivering cutting-edge solutions to a team of extremely successful and motivated Real Estate Agents and their customers. We have essentially created an organization with unrivaled tools and services that will be appreciated by today's savvy Real Estate Agents and Consumers.”
 
“The technological, managerial, and strategic support coupled with the regional, national, and worldwide connections that we are gaining by becoming one of the Latter & Blum Family of Companies heightens our capabilities exponentially,” said CEO of Van Eaton & Romero, Bill Bacqué. “Over the past 35 years, Van Eaton & Romero has delivered an unmatched level of service and commitment to our clients, our agents, our staff, and our community. Our core values remain constant and unchanged. What will change is the range, scope, and quality of services we will now be able to provide those seeking virtually any type of real estate service.”
 
The two companies will retain their respective names, Van Eaton & Romero, REALTORS in the Lafayette market and Latter & Blum Inc./REALTORS® serving the Greater New Orleans market. With C.J. Brown REALTORS® Inc. in Greater Baton Rouge and Noles-Frye in the Central Louisiana region, these four companies represent the best in Real Estate in Louisiana. 
 
Latter & Blum, Inc., operates the largest full-service Real Estate brokerage in the Gulf South, and includes, Latter & Blum, Inc./REALTORS®, C.J. Brown REALTORS®, Van Eaton & Romero REALTORS®, Noles-Frye Realty, NAI Latter & Blum Commercial Real Estate, Latter & Blum Property Management, Latter & Blum Insurance Services, Essential Mortgage Corp. and has Franchise Operations in LA & MS. Established in 1916, the company has grown to include operations in Greater New Orleans, Greater Baton Rouge, Lafayette, Alexandria and Southern Mississippi and handles all phases of residential, commercial, leasing, property management, appraisals, insurance, title and mortgage services. 
 
 

 
 

Rod's Notes For Wednesday 12/12/12


Rod Noles Property Management, Inc.

 

 Rod’s Radio Show Notes
December 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).

 
Announcements and Travel:
 
2nd Annual Bake Sale Benefit for Johnny Hesni: DECEMBER 12th – bring goodies early! The sale will be located in the lobby of Noles-Frye Real Estate office 9:00 am to 2:00 pm. Atwood bakery is donating 100 pies and my wife has her famous “cheese cake” with opening bid by Bob Merrick CEO at Latter & Blum of $5,000.
 
Rumor of the Day:
 
Golden Corral Steak House is going where the former Carl Wynn auto leasing center was. This is a pad location in front of Sutherland Lumber Supply next to McDonalds.
 
Morning Call Coffee Shop of New Orleans Now Open in City Park:
 
Owner may call in today and tell us about the history of his family business and how they came to have such a fabulous location.
 
Latter & Blum Acquires Denham Springs Real Estate Company:
 
In an announcement meeting earlier today, M. A. Allen Company founder Mary Ann Allen announced that her company is joining C. J. Brown’s Denham Springs Office. Their existing M. A. Allen office at 1208 South Range Ave will now operates as C.J. Brown and, along with our current location, will be managed by Tess Boudreaux. M. A. Allen’s 40 Sales Agents will join the 250 + Sales Agents of C. J. Brown in a transaction which closes 12/31/2012. We anticipate that Agents of M. A. Allen will begin affiliating now and continue through the month of December.
 
Our growth in this manner continues to contribute greatly to our overall success and ability to deliver more tools and services to our Clients and Agents.
 
 
Richard C. Haase,
President
LATTER & BLUM, INC.
 
People not Property:
 
Mike the Unhappy Client:

 
If you are wondering what happen with client that called in last week I will tell you at the end of our show if time permits. Appreciate the jabs and condolences from many listeners.
 
68 Realtors Sold $1,000,000 or More in Volume for 2012:
 
 It is possible based on splits and commission rates to earn as little as $25,000 in gross commissions to reach this milestone. With 300 members this number means 77% of licensed Realtors earned less than $25,000 in gross commissions. 
 
Tim Flavin President of Flavin Real Estate in Lake Charles:
 
Will call in today to tell us why Lake Charles market is so Hot!!!
Sasol, a South African energy giant, plans to spend between $16 billion and $21 billion to build a plant in Calcasieu Parish that will convert natural gas to liquid fuel and house an ethane cracker complex.
That’s roughly double the size of the investment the company first announced in September 2011. The plant, which will be located in Westlake, is set to create more than 1,250 direct jobs with an average annual salary of nearly $88,000, plus benefits. The Sasol plant will create about 7,000 construction jobs, according to estimates from Louisiana Economic Development.
Sasol’s board recently approved going ahead with front-end engineering and design work for the plant. Operations at the facility are set to begin in 2017, and full employment should be reached two years later.
A study commissioned by LED and performed by the LSU Division of Economic Development estimates the Sasol project will have a total economic impact over the next 20 years of $46.2 billion and the project will be one of the top 10 drivers of the Louisiana economy once it is completed. Gov. Bobby Jindal’s office said the project is the largest single manufacturing investment in the state’s history and one of the largest in U.S. history.

Every Deal has a Tale / Tail:
 
Bussey & Williams Real Estate Partnership (3640 Bayou Rapides, Alex., LA 71303) to Smith, Fontenot & Phillips, LLC (1272 Dorchester Dr., Alex., LA 71303) - Tract fronting 68.96' on Jackson St., Alex., LA (2025 Jackson St., Alex., LA 71301), $160,000.00 / 2,614 sf = $61.20 psf. Someone remain these young engineers rehab qualifies for state and federal tax credits.
 
Gene M & Nellois W Snow (928 Ida St., Alex., LA 71303) to Grace Presbyterian Church, Inc. (4900 Jackson St., Alex., LA 71303) - Lot B & part of Lot A of a resubdivision of Lots 5 & 7, Flynn Subd., $150,000.00. House on 928 Ida Street to continue campus. Church has 176’ on Jackson x 431.94 on Ida now they have 62.42’ more for total of 494.36’ almost exactly 2 acres. Live on Mohon Calvary Church might buy your house if you live on Ida Grace Presbyterian might buy your house
 
Crest Natural Resources, LLC (P O Box 6115, Alex., LA 71307) to USA - 265 acres in Sec 3 & 4, T5NR3E, $371,000.00 / 265 acres = $1,400 per acre. What does this price per acre tell you?
 
Carroll Furniture is Going out of Business / The Property is FOR SALE:
 
Priscilla Perry and I just listed Carroll’s Furniture at 1819 Memorial Drive today for $1,600,000. The primary building is 51,110sf of showroom, office and warehouse. The secondary building is a 16,000sf self-sufficient 100% leased, income producing RV storage rental. The storage rents are below market, but still bring in $60,000 a year in revenue. Both buildings sit on 5 acres. I attached the survey and several pictures for you to take a look at. Carroll’s Furniture is going out of business, but will continue to occupy the space until we find the right buyer.
 
Former Lowes in Leesville under contract:
 
Multiple offers were received and Greg Thompson wrote successful purchase agreement. Jack Hodges and Jimmy Redfearin shared the listing.
 

UPS Midstream Services Announces $3.9 Million Capital Investment, 95 New Jobs In Central Louisiana

JENA, La. - Today, Gov. Bobby Jindal and UPS Midstream Services Inc. announced the company plans to invest more than $3.9 million in Jena to construct and develop a new full-service machine facility to provide welding, fabrication, and equipment overhaul and repair. UPS's facility, part of the Universal Plant Services Inc. family of companies, will create 95 new direct jobs paying an average salary of more than $73,000, plus benefits. LED estimates the project will result in an additional 121 new indirect jobs, for a total of more than 200 new jobs in the Central Louisiana region and surrounding areas. The new UPS Midstream Services facility in Jena will manufacture reciprocating compressor equipment, commonly used in many different industries, including refineries, power plants and companies in the petrochemical industry. The Jena facility will work primarily with companies that service pipelines across the United States.
 
UPS also selected Jena for the new facility in order to better reach its customers in the South. The new direct jobs created by the construction of the facility will be added to UPS's 400 current employees. Based in Deer Park, Texas, the company operates other facilities in Baton Rouge, Los Angeles, San Francisco, Modesto, Calif., Mount Vernon, Wa., and Beaumont, Texas. The majority of its customers are based out-of-state, including several regional and nationwide accounts.
 
The company also is expected to utilize the Quality Jobs and Industrial Tax Exemption incentive programs for its Jena project. "Universal Plant Services will offer good new jobs and rewarding careers for the residents of the region," said President and CEO Jim Clinton of the Central Louisiana Economic Development Alliance. "CLEDA extends sincere congratulations to Mayor Murphy McMillin, the Town of Jena and the LaSalle Economic Development District on this important economic development victory. Jena is quickly becoming an emerging success story in Central Louisiana, both as a place to live and a place of economic opportunity."
 
Construction of the new UPS facility will begin in January 2013 and be completed in June 2013. Hiring for the project is under way, with 35 jobs to be filled in the first year, increasing to 95 jobs by 2017.
 
"Nearly a hundred new jobs is absolutely huge for a town like Jena," McMillin said. "The high-quality team at UPS is full of talent. They were aggressive and bold in their thinking. We want them - and the new talent they will recruit - to feel at home here. We will continue our efforts to create an environment that encourages additional manufacturing jobs and later becomes regional headquarters for Universal Plant Services right here in Jena, Louisiana."
 
About Universal Plant Services 
Founded in 1986, Universal Plant Services Inc. (UPS) is the leading provider of rotating and reciprocating machinery services in the industry, delivering more than 1.4 million man-hours of service annually. Customers trust UPS with the care of their business-critical turbines, pumps, compressors and components because of the company's commitment to safety and quality. The in-depth knowledge of UPS expert craftsmen provides innovative solutions to customer repair or maintenance needs. Headquartered in Deer Park, Texas, UPS has seven full-service facilities throughout the Gulf Coast and West Coast regions. Family owned, privately held and customer-focused, UPS provides the personal attention of a trusted business ally. 
 
Construction Contracts:
 
$3,600,000 in construction contracts for the week.
 
LA DOTD to Jack B Harper Electrical, LLC - Traffic loop detector maintenance on various routes in District 08, $67,500.00
Cenla Entertainment, LLC (P O Box 12653, Alex., LA 71315) to Tudor, Inc. (1412 Centre Court, Suite 500, Alex., LA 71301) - Addition to existing theatre building located at 2039 N Mall Dr., Alex., LA, $1,564,000.00
 
Rapides Parish Police Jury to Rylee Contracting, Inc. - Pineville Gravity Sewer, Plugged and Sealed Abandoned Outfall Project, $117,000.00
 
LA DOTD to Jack B Harper Contractor, LLC - Statewide Impact Attenuator Repair, $1,413,288.00
 
LA DOTD to Command Construction Industries, LLC - Retainer Contract for Repair & Replacement of Guardrail in District 08, $438,774.00.

(+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 December 3rd through 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:
 
$3,330,004 with 32 closed transactions slow week and negative score.
 
(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market gave us two sales for positive score.
 
Palmetto Enterprises, LLC to Johnny Porter Builder, Inc. (42 Philadelphia Road, Pineville, LA 71360) - Lot 12, Shady Crest Subd., Phase II, $27,500.00
 
Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Marcus R & Kai W Brown (6408 Genevieve Dr., Alex., LA 71301) - Lot 174, Tennyson Oaks, Phase 7E, $80,000.00. There are 8 lots on the lake and 4 are now sold.

(+1.25) New Home Sales:
 
Looking for one new home sale per week for positive score market provided two for positive score.
 
Fernwood Homes, Inc. (4615 Parliament Dr., Suite 100, Alex., LA 71301) to Shawn P Reiszner (5904 Tall Pine Drive, Ball, LA 71405) - Lot 26, W L Moore Subd. # 2 (5904 Tall Pine Dr., Ball, LA 71405), $137,500.00
 
Team Realty, LLC (1408 Metro Dr., Suite B, Alex., LA 71303) to Jameson C Finn (6519 Arden Oaks, Alex., LA 71301) - Lot 196, Tennyson Oaks, Phase 9 (6519 Arden Oaks, Alex., LA 71301), $282,000.00
 
(+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 and volume of $130,000 / $3,300,000 = 3.94% for positive score.
 
LPP Mtg. Ltd. (7195 Dallas Parkway, Plano, TX 75024) to James W Smith (4007 Clinton St., Alex., LA 71301) - Lot 79, Jefferson Subd. (4528 Hargis St., Alex., LA 71302), $10,000.00
 
J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Darrell R Bass (66 Hwy. 462, Pitkin, LA 70656) - 2.03 acres in Sec 17, T1SR3W (1015 West River Road, Glenmora, LA 71433), $120,000.00
 
Interest Rates:

30 year rate was 3.42% this week is 3.39%, the 15 year rate was 2.81% this week it is 2.85%, the 5/1 ARM was 2.82% now 2.76%.
 
Mykoff Absorption Rate:
 
5.95    Total Market beginning of November 660 homes on market 138 sold = 5.95 sell off time
7.25    Market $400,001 and up 29 on market 3 sold = 7.25 sell off time
6.7       Market between $250,001 and $400,000 67 on market 17 sold = 6.7 sell off time
6.13    Market between $150,001 and $250,000 number on market 190 and 41 sold = 6.13 sell off time
5.52    Market below $150,000 on market 364 and 66 sold = 5.52 sell off time
 
Total market 111 properties sold in November within Central Louisiana MLS and 138 new properties came on the market.
 
Acreage Sales: 
 
7 sales for the week, we are seeing more and more rural acreage sales. Money moves where it is treated best.
 
John L Lacombe, et al (661 Hwy. 1, Marksville, LA 71351) to Rowdy L & Rhonda L Andress (161 Don Dr., Cottonport, LA 71327) - 1 acre in Sec 35, T2NR2E, $10,000.00
 
Tory A Maillet (4150 Hwy. 451, Moreauville, LA 71355) to Angela V Burke (26 John Lacombe Road, Alex., LA 71302) - 1.7 acres in Sec 26, T2NR2E, $76,500.00
 
Ricky D & Dana M Elliott (P O Box 434, Forest Hill, LA 71430) to Antonio D Olvera-Escobedo and Julia Juarez, et al (129 Chuckee Lane, Forest Hill, LA 71430) - 19 acres in Sec 28, T1SR2W, $115,000.00
 
Valerie E Zangla (5886 Bayou Rapides Road, Alex., LA 71303) to Frank B Zangla (1458 Wildwood Dr., Pineville, LA 71360) - 2.54 acres in Sec 83, T4NR1W, $25,000.00
 
Crest Natural Resources, LLC (P O Box 6115, Alex., LA 71307) to USA - 265 acres in Sec 3 & 4, T5NR3E, $371,000.00
 
Vincent C & Rebecca A Verzwyvelt (P O Box 201, Ball, LA 71405) to Benchmark South, LLC (P O Box 69, Tioga, LA 71477) - 2.321 acres in Sec 38, T5NR3E (594 Hwy. 1207, Deville, LA 71328), $45,000.00
 
Mark B & Jennifer M Beaubouef (1752 Hwy. 115, Deville, LA 71328) to Benchmark South, LLC (P O Box 69, Tioga, LA 71477) - 10 acres in Sec 32, T5NR2E, $140,000.00
 
Indices

 

Last

Last Week

YTD return %

DJIA

13074.04

13021.82

7.01%

NASDAQ

2989.27

3012.027

14.74%

S&P 500

1413.94

1415.95

12.43%

MSCI EAFE

1569.46

1554.47

11.11%

Russell 2000

821.79

823.20

10.91%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.17

0.08

30-year mortgage

3.34

3.98

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.604

1.558

Dollars per Euro

1.295

1.340

Japanese Yen per Dollar

82.380

77.720

Canadian Dollars per Dollar

0.992

1.012

Mexican Peso per Dollar

12.925

13.496

 
Commodities

 

Last

1-year ago

Crude Oil

86.26

101.28

Gold

1698.25

1724.95

Bond Rates

 

Last

1-month ago

2-year treasury

0.24

0.26

10-year treasury

1.62

1.64

10-year municipal (TEY)

2.66

3.00

 

Rod's Notes For Wednesday 12/05/12


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).

 

Announcements and Travel: was in San Antonio, last week attending syndication seminar was 2.5 days. Stay at the Westin on River Walk and would recommend this as mini vacation after November 23rd when the lights are on and Christmas Caroling on the River. Had dinner with Larry Smith one of the former owners of Town Talk. Larry drove down from Austin and yes he picked up the bill.

 

In following weeks will share with our audience some of market trends and suggestions on pooled investments. One of the things I did discover is that rich Frenchman are buying signature homes in Texas like they are being taxed at 75% and are moving to more friendly tax climate.  

 

Homebuilders 55th Anniversary celebration and Awards Banquet Thursday December 6th at Melady House Plantation. Guest speaker is Representative

 

3.8% investment tax fact sheet is attached to my notes if you are not on my distribution lest go to our web site www.rodnolespropertymanagement.com . This is not 3.8% tax on real estate only, it is not 3.8% tax on sales price, and it does not affect personal residence that meets tax free status of $500,000 gain exemption filing jointly. If you AGI (adjusted gross income) is above $200,000 for single return or $250,000 for married filing jointly you are the an additional 3.8% tax target for IRS on all investments. Both cash flows and sale proceeds are taxable.

 

2013 is a year when none of 4 digits are the same. When was the last year this happened? If local business have plans to close they will often announce at year end. Curious if we will see closed local business this time around.  

 

England Authority deals: Zero deals purchased and no new grants but there is always new development at England Air Park. Our recent flight to San Antonio was adroitly begun and completed from our beautiful airport.

 

People not property:

 

Mike Huckabee was at Hastings Book store last night and we had him autographed a couple of books as Christmas presents for friends with grandchildren.  

 

Buddy Roemer former La. governor spoke at Rotary club the Tuesday prior to our leaving for San Antonio

 

Paul Smith tax credit consultant was at open house in 1900 block of White Street where Mark Gravel has done beautiful rehab project on “former eye sore 4-plex”. Tax Credits both State and Federal 25% state and 20% federal. Mention unusal expanded zone for state credits, discuss difference between credit and deduction, how does federal tax credit qualify. Discuss two tri-plex corner of Bush and Vance @ $145,000

 

 

Mykoff Absorption Rate:

 

5.95    Total Market beginning of November 660 homes on market 138 sold = 5.95 sell off time

7.25    Market $400,001 and up 29 on market 3 sold = 7.25 sell off time

6.7       Market between $250,001 and $400,000 67 on market 17 sold = 6.7 sell off time

6.13    Market between $150,001 and $250,000 number on market 190 and 41 sold = 6.13 sell off time

5.52    Market below $150,000 on market 364 and 66 sold = 5.52 sell off time

 

Total market 111 properties sold in November within Central Louisiana MLS and 138 new properties came on the market.

 

Every deal has a tale / tail:

 

Lauve / Bussey law office building on Jackson Street sold for $160,000 to Fontonte engineers.

 

 

Sharon A Dukes (208 Maryland Dr., Luling, LA 70070) to Bonnette Investment Properties, LLC (3804 McKeithen Dr., Alex., LA 71303) - Lot 2, Blk 5, Airview Terrace Subd. (5211Richard Ave., Alex., LA 71302), $88,000.00

 

Randy D Greene (1718 Metro Dr., Alex., LA 71301) to Shadi Al-Samour, et al (118 Window Dr., Broussard, LA 70518) - .369 acres in Sec 26, T4NR1W, $135,000.00

 

Darryl D Andrews, Sr. & Norma P Andrews (6525 Tennyson Oaks Lane, Alex., LA 71301) to Vikram S Nijjar (3106 George's Lane, Alex., LA 71301) - Tract known as 3027 George's Lane, Alex., LA 71301, $640,000.00

 

 

Construction Contracts

 

Red River Dental, LLC (1408 Peterman Dr., Alex., LA 71301) to Tudor, Inc. (1412 Centre Court, Suite 500, Alex., LA 71301) - Renovations to building located at 1408 Peterman Dr., Alex., LA, $146,040.00

 

(+2.50) 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 time period of November 19th through November 30th two week period

 

(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; we are scoring two weeks need 80 sales for positive score and we had 69 sales which ranks negative for past two weeks. Volume was $12,020,083 and largest sale was $2,900,000 by Ken Moran for his roofing plant.

 

(+1.25) Lot sales: To rank positive score need one sale per week for two week period we would need 2 sales and we had 3 to 5 sales for a positive score. 

 

Weilland Enterprises, LLC (316 Johnston St., Alex., LA 71301) to V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) - Lot 2, St. Andrews Links Estates, Phase I, et al (117 St. Andrews Dr., Alex., LA 71303), $90,000.00

 

Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Eric J & Mary L Daniel (6007 Gates Dr., Alex., LA 71303) - Lot 172, Tennyson Oaks Subd., Phase 7E, $82,000.00

 

Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to The Tilley Living Trust (5741 Woodbriar Cove, Memphis, TN 38120) - Lot 178, Tennyson Oaks, Phase 8 Revised, $63,000.00

Mykoff Monthly Comparison Absorption Report

2012

Jan

Feb

March

April

May

June

July

Aug

Sept

Oct

Nov

 

 

 

 

 

 

 

 

 

 

 

 

Currently listed

690

640

651

633

616

656

660

650

632

630

629

Sold

62

80

121

89

101

94

111

94

99

87

93

Came on the Market

109

102

134

121

130

146

138

129

115

129

101

Current Monthly Supply

11.1

8

5.38

7.11

6.1

6.66

5.95

6.91

6.38

7.24

6.76

 

 

 

 

 

 

 

 

 

 

 

 

$400,001 and Up

 

 

 

 

 

 

 

 

 

 

 

Currently listed

28

27

30

25

29

24

29

27

28

27

26

Sold

3

2

4

1

2

1

4

0

3

1

1

Came on the Market

1

4

6

2

8

1

3

5

4

5

3

Current Monthly Supply

9.3

13.5

7.5

25

14.5

24

7.25

27

9.33

27

26

 

 

 

 

 

 

 

 

 

 

 

 

$250,001-$400,000

 

 

 

 

 

 

 

 

 

 

 

Currently listed

70

63

69

68

61

63

67

75

69

67

71

Sold

3

10

9

8

6

11

10

11

9

7

9

Came on the Market

12

4

19

10

11

15

17

21

11

17

8

Current Monthly Supply

23.3

6.3

7.67

8.5

10.17

5.73

6.7

6.82

7.67

9.57

7.89

 

 

 

 

 

 

 

 

 

 

 

 

$150,001-$250,000

 

 

 

 

 

 

 

 

 

 

 

Currently listed

192

166

 

(+1.25) New home sales: looking for one new home sale per week for positive score with two weeks of sales we needed two transactions and the market provided three for positive score. 

 

Cooley Enterprises, LLC (6810 Masonic Dr., Alex., LA 71301) to Michael Gonzales, Jr. & Kara J Gonzales (4523 Pardue Road, Ball, LA 71405) - Lot 6, Ocho Rios Subd., Phase 1-A (409 Ocho Rios Dr., Pineville, LA 71360), $175,000.00

 

Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) to Charles R Fogerson (3003 Wesley Circle, Woodworth, LA 71485) - Lot 159, Country Club Place, Phase VI (3003 Wesley Circle, Woodworth, LA 71485), $222,500.00

 

West Lakes Estates, LLC (2230 MacArthur Dr., Alex., LA 71301) to William G Richardson, Jr. (1501 Clark Court, Lake Charles, LA 70611) - Lot 24, West Lakes Estates Subd. (209 Grand Lakes Blvd., Alex., LA 71303), $237,900.00

 

 

(-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 seven sales with total volume of $820,497 / $9,120,083 = 8.99% (total volume was $12,000,000 but I deducted $2,900,000 sale by Ken Moran)

 

Sec. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Mark K Funderburk (1823 Shannon Road, Alex., LA 71301) - Lot 84, Fourleaf Village (1823 Shannon Road, Alex., LA 71301), $31,977.00

 

First Federal Bank of LA (2141 North Mall Dr., Alex., LA 71301) to Henry E & Darlene E Clark (417 Grant Dr., Ball, LA 71405) - Tract in sec 17, T5NR1E (0 Williford Road, Ball, LA 71405), $302,250.00

 

J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Shady Crest Properties, LLC (210 Dean Lane, Pineville, LA 71360) - Tract in Sec 14, T4NR2E (165 Billy Rush Road, Deville, LA 71328), $77,000.00

 

J P Morgan Chase Bank to Margaret Taylor (1106 Sunburst Lane, Pineville, LA 71360) - Tract in Sec 35, T5NR1W (3215 Shreveport Hwy., Pineville, LA 71360), $49,900.00

 

Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000Dallas, TX 75254) to Curtis E Long (1192 Ed Stracener Road, Boyce, LA 71409) - Tract in Sec 70, T4NR3W, $74,350.00

 

LPP Mtg., Ltd. (7195 Dallas Parkway, Plano, TX 75024) to Michael R & Robin N Arnold (1819 Shannon Road, Alex., LA 71301) - Lot 85, Fourleaf Village (1819 Shannon Road, Alex., LA 71301), $45,000.00

 

Federal National Mtg. Assoc. to Brad M Duplechien, et al (108 Acadia St., Pineville, LA 71360) - Lot 29, Beau Chene Subd., Phase 1 (108 Acadia St., Pineville, LA 71360), $240,000.00

 

 

Interest rates: 30 year rate was 3.42% this week is 3.44%, the 15 year rate was 2.85% this week it is 2.85%, the 5/1 ARM was 2.82% now 2.79%.

 

Indices

 

Last

Last Week

YTD return %

DJIA

13021.82/td>

12542.38

6.58%

NASDAQ

3012.03

2836.94

15.62%

S&P 500

1415.95

1353.33

12.59%

MSCI EAFE

1554.47

1479.42

10.05%

Russell 2000

823.20

769.48

11.11%

 

Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.18

0.08

30-year mortgage

3.95

4.16

 

Currencies

 

Last

1-year ago

Dollars per British Pound

1.604

1.561

Dollars per Euro

1.297

1.333

Japanese Yen per Dollar

82.080

77.850

Canadian Dollars per Dollar

0.993

1.030

Mexican Peso per Dollar

12.957

13.933

 

Commodities

 

Last

1-year ago

Crude Oil

88.07

99.79

Gold

1726.60

1714.47

<br />

Bond Rates

 

Last

1-month ago

2-year treasury

0.25

0.29

10-year treasury

1.62

1.74

10-year municipal (TEY)

2.67

3.00

 

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