Rod's Notes Archives for 2013-01

Rod's Notes For Wednesday 01/23/13


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).

 

 

New Orleans and 2nd grandson: John Douglas Hart (Jack) was born January 14, 2013

approximately 8:15 am weighed 8 lbs. 1 oz. 22”. Jack, his parents, my wife left Touro

hospital Wednesday January 16, 2013 and was admitted to Children’s Hospital Saturday

and went home second time yesterday.  

 

This maybe the worst preparation ever for a show, good time to call in with questions,

comments, or corrections. 442-8255 (talk). Spending so much time in New Orleans hard

not to notice the region is preparing for Super Bowl with new construction projects now

in 24/7 mode to meet the deadline.

 

Super Bowl Tickets staff worker at Latter & Blum if you are interested contact me:

I can't believe this but my name was drawn again in the Super Bowl lottery.

I have checked a few websites for current ticket prices. The Plaza End Zone tickets 

are selling anywhere from $3296 - $5500 on NFL Ticket Exchange.

Other sites are in the same ballpark. My 3 tickets are in Section 129, Row 28, Seats 17, 18, 19.

There are currently no tickets for sale in this section. I would be happy with $3300 per ticket.

The section is to the right of the goal post. Pass this info around to anyone.

 

 

 

 

Every deal has a tale / tail

 

CVM Deli Concepts, LLC Michael King(5005 Buckland Dr., McKinney, TX 75070) to Hejr Project, Corp. (P O Box 5813, Midland, TX 79704) - Lots 19 & 20, Sq 2, Ball's Texas Ave. Subd. (959 MacArthur Dr., Alex., LA 71301), $1,200,000.00 Loan: Hejr Project Corp. (5013 Woodhollow Dr., Midland, TX 79707) to BancorpSouth Bank (P O Box 4360, Tupelo, MS 38803) - Lots 19 & 20, Sq 2, Ball's Texas Ave. Subd. (959 MacArthur Dr., Alex., LA 71301), $720,000.00. This is the corner of MacArthur and Marye occupied by Schlotzsky’s Deli, I suspect this is sale with lease back. If my assumption is correct and landlord rquires 8% yield lease rate for the Deli is $8,000 per month ($1,200,000 x 8% / 12 = $8,000)

 

Bobbe G Guillory, et al (8210 Shreveport Hwy., Pineville, LA 71360) to Barth Properties, LLC (P O Box 8579, Alex., LA 71306) - 49.416 acres in Sec 17, T5NR1W, et al, $400,000.00. Billy and Bobbe Rhimes parent’s property.

 

L.A.W. Three, Inc. (8164 Titleist Dr., Pineville, LA 71360) to Robert A Miller, Jr. & Linda G Miller, et al (517 Eagle Dr., Pineville, LA 71360) - 17.59 acres in Sec 16, T5NR1W, $118,125.00

 

William D Harvey (P O Box 278, Lecompte, LA 71346) to Inglewood Plantation, LLC (6287 Old Baton Rouge Hwy., Alex., LA 71302) - 1.33 acres in Sec 62, T2NR1W, $80,000.00. Stewardship for Inglewood asset is to be admired the family does a great job at improving, and preserving a rare real estate treasure. Polly Keller Winter’s daughter Cornelia F. Keller age 66 passed away this week. I never met Cornelia but in reading the obituaries it certainly appeared she had good stewardship blood running through her veins and left her world a better place from passing through.

 

Mortgages of Interest:

 

Bino Real Estate, LLC Binitha Joseph(107 Hospital Dr., Oakdale, LA 71463) to Citizens Bank (P O Box 598, Ville Platte, LA 70586) - Lot 36, Pringle Subd., Ext. 2, et al, $897,500.00. Property in Glenmora area most probably a blanket mortgage.

 

Alexandria Lincoln Road, LLC & Alexandria Lincoln Pad, LLC (155 East 55th St., Suite 5F, New York, NY 10022) to Bank of America (214 North Tryon St., Charlotte, NC 28255) - Lot 1, Common Subd., et al, $10,800,000.00 / 168,000 sf = $64.29 psf.

 

Deals from first week in January.

 

30 Additional Rooms at Hampton Inn

Calhoun Enterprises, LLC (4000 Locke Lane, # 7, Lake Charles, LA 70605) to MIC Alexandria, LLC (202 W Superior St., Suite 321, Duluth, MN 55802) - .78429 acres in Parcel L, Calhoun Commercial Park 1-2nd filing, $187,900.00 Sale is $5.50 psf. 30 Rooms being added to Hampton Inn. Paul Stich from Baton Rouge NAI Latter & Blum. 308-2629 cell phone good values, good sites available.

 

Barry Mitchell Enterprises, LLC (184 Cooper Road, Alex., LA 71303) to Stat Central Alexandria Properties, LLC (10615 Jefferson Hwy., Baton Rouge, LA 70809) - Lot 3, Yorktown Medical and business Park, Phase I (101 Yorktown Dr., Alex., LA 71303), $650,000. This was Mike Dorman sale with Noles-Frye Realty and we gain sale and I lost a tenant now have 4,450 square feet available in our building.

 

People not property:

 

Jack Hodges needs: one to five thousand acres for pasture use, client wants to buy, cash sale call Jack Hodges at 318-445-7653

 

Matt Ritchie was installed as state President for CCIM 2013 at Baton Rouge Country club last week. Buddy Roemer was keynote speaker and Matt as me to facilitate the luncheon program.

 

Delores Brewer new director of planning for City of Alexandria

 

C. Rodney McNeal, age 82, of Alexandria, passed away Thursday, January 17, 2013, at Grace Home, in Alexandria, LA.

 

Jeff Matthews Town Talk reporter: make nice comments about our paper, 28 West article and possible realignment of Fort Polk.

 

Jim Montgomery after birth of Jack Hart this week the two grandfathers paid a visit to CEO of Turo Hospital Jim Montgomery. Jim and Donna are doing well in New Orleans and Jim had some very nice things to say about Jason Cobb new CEO at Rapides Regional.

 

Chris Hazel State Representative: my hope with maturity in his position of power he will investigate, inspect, or inquire before making claims about state employee’s safety. His response to disaster of tornado damage to Washington Square was at best immature and at worst harmful to a bad situation.

 

Construction Contracts:

 

LA DOTD to Progressive Construction Co., LLC - Left turn lanes at Holsum Bakery, $188,363.30

 

Fort Polk story front page of Town Talk: When England closed in 1992 I was on the speaking circuit for areas with military facilities and also did a limited amount of consultant work for a few communities and developed following stages for every community with this economic engine. If you have military facility in your community you are in one of the following four stages of realignment:

 

  1. Anticipation
  2. Announcement
  3. Closure
  4. Re-Use

 

The announcement by department of defense of possible force strength reduction for different facilities around the country has already negatively impacted the anticipation phase of this process. Priscilla and I are working on two large commercial deals that might run off the track with this announcement. Big “if” the worst happens impact is 2020 with 50% reduction in troop presence from 10,877 to 5,577. The best “what if” is 1,000 personnel increase. The region will pull together to present our best case and you would think with acquisition of 5,000 additional acres Fort Polk is safe but there is always cause for concern.

 

Few people in Central La. need reminding about how important military’s economic impact is on our area but I was surprised as General Curtis's presentation to Rotary this week at the direct impact of La. National Guard on our local economy. ($159 Million in 2012). We should and do support military efforts in our community, state, and nation.

 

(+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 time period of January 7th though January 18, 2013 scores will be double for this show.

(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: 51 Transactions needed 80 for two week measurement total volume was $6,072,213. First three weeks in 2013 total transactions 73 sales or less than 25 per week.

(+1.25) Lot sales: To rank positive score need two sales for past couple of weeks the market gave us four.

 

B & B Office Holdings, LLC (P O Box 2167, Prairieville, LA) to Three B Construction, LLC (P O Box 2167, Prairieville, LA 70769) - Lot 14, Shadow Creek Ranch, Phase I (330 Shadow Creek Ave., Pineville, LA 71360), $36,000.00

 

Jeremy P Guidry (20 Guidry Lane, Woodworth, LA 71485) to Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) - Lot 156, Country Club Place, Phase VI, $36,000.00

 

Commercial Partners, LLC (3219 Marye St., Alex., LA 71301) to Ronnie J & Shai D Matthieu (6869 Hwy. 93, Arnaudville, LA 70512) - 2.44 acres in Sec 17, T1NR2W, $35,000.00

 

Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Christopher J & Tiffany A Bordelon (315 Cardinal Loop Road, Marksville, LA 71351) - Lot 168-B, Tennyson Oaks Subd., Phase 7E, $62,500.00

 

(+1.25) New home sales: looking for two new home sales during past two weeks for positive score market gave us four and 100% of the sales were on Pineville side of the river.

 

KEH Construction, LLC (12852 Mill Pond Road, Deville, LA 71328) to Tanner G & Sami H Dryden (400 Dana Lane, Deville, LA 71328) - Lot 6, Dana Lane Subd., $170,000.00

 

Johnny Porter & Son Contractors, Inc. to Stanley W & Jennifer P Byrd (220 Woodwind Dr., Pineville, LA 71360) - Lot 71, Woodlake Subd., Phase V-A (220 Woodwind Dr., Pineville, LA 71360), $178,000.00

 

Cooley Enterprises, LLC (6810 Masonic Dr., Alex., LA 71301) to Joshua O & Allicia M Bester (429 Ocho Rios, Pineville, LA 71360) - Lot 16, Ocho Rios Subd., Phase 1-A, $185,000.00

 

Johnny Porter Builder, Inc. (42 Philadelphia Road, Pineville, LA 71360) to Kelli Middleton (107 Shady Crest Ave., Deville, LA 71328) - Lot 11, Shady Crest Subd., Phase II (107 Shady Crest Ave., Deville, LA 71328), $183,500.00

 

(+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 toal volume of $182,500 / $6,072,000 = 3.00%

 

J P Morgan Chase Bank (7301 Baymeadows Way, Jacksonville, FL 32256) to Jonathan S & Kailee B Landry (7076 Hwy. 123, Dry Prong, LA 71423) - Lot 48, Ext. # 2, Timber Trails Subd. (8216 Ridgemont Dr., Pineville, LA 71360), $109,000.00

 

Deutsche Bank (1525 S Beltline Road, Coppell, TX 75019) to H & H Properties of Cenla, LLC (410 H Strange Road, Lecompte, LA 71346) - Lot 10, Sycamore Grove Subd. (1115 Martha Lane, Alex., LA 71303), $38,000.00

 

Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000Dallas, TX 75254) to Kelly K Bakies (404 Idlewood Dr., Alex., LA 71303) - Lot 38,Sherwood Park # 2 Subd. (2308 Magnolia Lane, Alex., LA 71301), $35,500.00

 

Interest rates: 30 year rate was 3.47% this week is 3.47%, the 15 year rate was 2.84% this week it is 2.84%, the 5/1 ARM was 2.94% now 2.84%.

 

Question for our listeners is which of following areas presents best buying opportunities?

 

  1. Bank foreclosed homes
  2. For Sale by Owners
  3. Landlords selling rent houses
  4. Home owner who has moved and has two notes to pay or house note and rent where they just moved.  

 

NAR Issue Brief

Real Estate Provisions in “Fiscal Cliff” Bill

 

 

Real Estate Tax Extenders

 

Mortgage Cancellation Relief is extended for one year to January 1, 2014

 

Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012

 

Leasehold Improvements: 15 year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012.

 

Energy Efficiency Tax Credit: The 10% tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.

 

Capital Gains

Capital Gains rate stays at 15% for those the top rate of $400,000 individual and $450,000 joint return. After that, any gains above those amounts will be taxed at 20%. The 250/500k exclusion for sale of principle residence remains in place.

 

Estate Tax The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax. After that the rate will be 40 percent, up from 35 percent. The exemption amounts are indexed for inflation.

 

Rod's Notes For Wednesday 01/09/13


Rod Noles Property Management, Inc.

 

Rod’s Radio Show Notes January 9th 2013

 

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

 
Every Deal has a Tale / Tail:
 
Review 3 deals for last week
 
Cowboy Town $2,500,000 sold to Sundrop Fuels
 
Lake District $2,300,000 sold to V&V
 
McKesson 12 acres and 172,000 square feet bank is taking it back with loan of $4,800,000
 
Deals of Interest for the Week:
 
30 Additional Rooms at Hampton Inn
Calhoun Enterprises, LLC (4000 Locke Lane, # 7, Lake Charles, LA 70605) to MIC Alexandria, LLC (202 W Superior St., Suite 321, Duluth, MN 55802) - .78429 acres in Parcel L, Calhoun Commercial Park 1-2nd filing, $187,900.00 Sale is $5.50 psf. 30 Rooms being added to Hampton Inn. Paul Stich from Baton Rouge NAI Latter & Blum. 308-2629 cell phone good values, good sites available.
 
Barry Mitchell Enterprises, LLC (184 Cooper Road, Alex., LA 71303) to Stat Central Alexandria Properties, LLC (10615 Jefferson Hwy., Baton Rouge, LA 70809) - Lot 3, Yorktown Medical and business Park, Phase I (101 Yorktown Dr., Alex., LA 71303), $650,000. This was Mike Dorman sale with Noles-Frye Realty and we gain sale and I lost a tenant now have 4,450 square feet available in our building.
 
Christian International Outreach Center, Inc. (P O Box 12863, Alex., LA 71315) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Lots 1, 2 & part of 3, South Masonic Subd. (6011 Masonic Dr., Alex., LA 71301), $1,193,572.37
 
Mykoff Absorption Report:
 

10.59 months total market total available boy December 752 homes / 71 sold = 10.59 plus 97 new homes on the market
 
25 months  above $400,000 total available boy December 25 / 0 = 25 no new homes in that price range
 
19 months $250,001 to $400,000 total available boy December 80 / 9 = 19 plus 10 more homes on the market
 
11.89 months $150,001 to $250,000 total available boy December 214 / 18 = 11.89 plus 30 more on the market
 
9.02 months below $150,000 total available boy December 433 / 48 = 9.02 plus 57 more on market
 

 
Tips on what to do when supply is greater than demand and you are selling in wrong seasons.
 
Consider holding your house off the market until April look for 7 to 8 absorption time in your price range.
 
Price the property correctly. You do not need an appraisal but interview two successful agents for BMA.

  • List with a Realtor
  • Do not cut agents selling fee at time of the listing
  • Make it easy to show your property
  • Be involved with marketing ideas, and having your agent make contact with certain spheres of influence
  • Make repairs that you have been putting off
  • Unclutter furniture (yours and your children’s) give the house some space
  • Don’t be Donald Trump in negotiations consider the last deal you passed on is you buying that property at that price

 
People not Property:
 
Jason Cobb new CEO at Rapides Regional welcome to town and kudos on your new position.
 
Brandon Fonote for opening his own business Uncle B’s La. Comfort Food in Pineville on 28 East. Could one of our drive by reporters call in and tell us more. I saw the story in the Town Talk this morning.
 
John Benton new general manager at the mall if one of our drive by reporters knows John ask him to call in sometime and tell us more about John Benton and Alexandria Mall
 
“PR” team Priscilla and Rod Noles were #NO 1 in production for December at Noles-Frye Realty and #NO 2 for the quarter.
 
Tornado update at Washington Square: heroes, lessons learned, new discoveries and few disappointments
 
Steve Ayers might be the best people story. Steve walks on the parking lot 7:00 am day after Christmas and asked if he could help. In just a few minutes he has front end loader and operator pushing debris off the parking lot so we can bring in dumpsters and places for workers to park. I walked over and said do you need me to sign a contract for work you are doing? He said I am here as a neighbor and not a contractor.
 
Garden Club asked if they could plant some color to brighten up otherwise ugly sight.
 
Martin Heyman gave me a lecture on co-insurance and increased insurance by 33% last February. Martin is in top 1% of insurance agents in the state when it comes to intellect and integrity.
 
City crews and AT&T are the type of people I would share a fox hole with.
 
Tenants that were able to stay have been wonderful to work with. (Story of three young men standing around)
 
Lessons Learned or Re-enforced:
 
(1) Check on your friends when their lights are out
(2) Harder to lose your shirt with the sleeves rolled up
(3) Good relationships with clients and vendors is the best asset any company has.
(4) You are never prepared for “black swan” events    
 
Sales Meeting this Week:
 
Inventory during listing presentations covered 8 Parishes: Rapides, Vernon, Beauregard, St Landry, Avoyelles, Natchitoches, Evangeline, and Grant Parish. Company since I sold to Latter & Blum has become a regional, state, and national player. Good for the community, good for Noles-Frye and good for me.
 
Rose Steepleton #NO 1 for last quarter my goal for personal production is to be #NO 2 just like Norte Dame.
 
Will attach next week past two week activity this gives my listeners peak at 25% of MLS activity.
 
Construction Contracts: Zero recorded for the week
 
Wrong last week LA Division of Administration to Pat Williams Construction, Inc. (P O Box 1508, Leesville, LA 71496) - Replacement of dormitories, LA Special Education Center, $8,125,500.00 this development will be in Pineville and not 28 West as reported.
 
(+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 December 31st though January 4, 2013 scores will be double for this show.
 
(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:
 
22 sales total volume of $2,504.988 way below minimum bar for negative score.
 
(-1.25) Lot Sales:
 
To rank positive score need one sale per week the market gave us zero for negative score
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week for positive score market
 
Floyd C Hebert, Inc. (4033 Waterford Dr., Alex., LA 71303) to Adam T & Tamera K Dever (193 Woodwind Dr., Pineville, LA 71360) - Lot 84, Woodlake Subd., Phase V-B, $240,000.00
 
Brittain & White Construction, LLC (5512 Jackson St. Ext., Alex., LA 71303) to Guy R Sherwood (5445 Provine Place, Apt. 809, Alex., LA 71303) - Unit 420C, The Cypress Point at Lake District Condominiums (420 C Ansley Blvd., Alex., LA 71303), $295,000.00
 
(+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 three sales for total volume of $108,900 / $2,500,000 = 4.36% for positive score
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to Campbell Appraisals, Inc. (1038 Amber Lane, Pineville, LA 71360) - Tract in Sec 12, T5NR2E (712 Gene Gunter Road, Deville, LA), $34,900.00
 
U S Bank (7301 Baymeadows Way, Jacksonville, FL 32256) to Joel H Short (72 King Richard Road, Dry Prong, LA 71423) - Lots 19 & 20, Blk C, Yeager Subd. (4510 Woodlawn Dr., Pineville, LA 71360), $43,000.00
 
Capital One (7933 Preston Road Mail Stop 31062-0310, Plano, TX 75024) to Glennen F & Sonya Jones (107 Willie Wells Rd., Deville, LA 71328) - 2.5 & 1.0 acre tracts in Sec 28, T4NR2E (52 Ponderosa Road, Deville, LA 71328), $31,000.00Capital One (7933 Preston Road Mail Stop 31062-0310, Plano, TX 75024) to Glennen F & Sonya Jones (107 Willie Wells Rd., Deville, LA 71328) - 2.5 & 1.0 acre tracts in Sec 28, T4NR2E (52 Ponderosa Road, Deville, LA 71328), $31,000.00
 
Interest Rates:
 
30 year rate was 3.4% this week is 3.53%, the 15 year rate was 2.8% this week it is 2.84%, the 5/1 ARM was 2.82% now 2.86%.
 
Where is the best buy in residential rentals; Stock market returned 2.19% last year, my worst performing rent house returned 8%. If you do not own any real estate other than your home you might want to go shopping.
 
Question for our listeners is which of following areas presents best buying opportunities?
 
(1)       Bank foreclosed homes
(2)       For Sale by Owners
(3)       Landlords selling rent houses
(4)       Home owner who has moved and has two notes to pay or house note and rent where they just moved. 
 
Best Small Commercial Deal on the Market:
 
¾ of an acre between Grand Cinema and Paradise Catfish 29,000 sf. Price is reduced to $299,000 email Priscilla Perry for a building layout suggestion. pperry@noles-frye.com
 
NAR Issue Brief
 
Real Estate Provisions in “Fiscal Cliff” Bill
 
On January 1 both the Senate and House passed H.R. 8, legislation to avert the “fiscal cliff.” The bill will be signed shortly by President Barack Obama. Below are a summary of real estate related provisions in the bill.
 
Real Estate Tax Extenders
 
• Mortgage Cancellation Relief is extended for one year to January 1, 2014
 
• Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
 
• Leasehold Improvements: 15 year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012.
 
• Energy Efficiency Tax Credit: The 10% tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.
 
 
Capital Gains
Capital Gains rate stays at 15% for those the top rate of $400,000 individual and $450,000 joint return. After that, any gains above those amounts will be taxed at 20%. The 250/500k exclusion for sale of principle residence remains in place.
 
Estate Tax The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax. After that the rate will be 40 percent, up from 35 percent. The exemption amounts are indexed for inflation.
 
Indices

 

Last

Last Week

YTD return %

DJIA

13391.36

13096.31

2.19%

NASDAQ

3100.57

2985.91

2.68%

S&P 500

1459.37

1418.10

2.33%

MSCI EAFE

1628.10

1609.75

1.50%

Russell 2000

872.60

837.40

2.74%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.17

0.07

30-year mortgage

3.35

3.91

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.616

1.565

Dollars per Euro

1.311

1.305

Japanese Yen per Dollar

86.880

76.690

Canadian Dollars per Dollar

0.986

1.010

Mexican Peso per Dollar

12.742

13.686

 
Commodities

 

Last

1-year ago

Crude Oil

92.92

102.96

Gold

1676.80

1598.97

 
Bond Rates

 

Last

1-month ago

2-year treasury

0.26

0.24

10-year treasury

1.93

1.62

10-year municipal (TEY)

3.03

2.66

 
 
 
 
 
 

 
 

Rod's Notes For 1/2/13


Rod Noles Property Management, Inc.

 

Rod’s Radio Show Notes January 2nd 2013
 
Go to:  www.rodnolespropertymanagement.com and click on radio notes and sign up to have them emailed each week. If you know of someone looking for rental space, apartments, homes, retail, office or industrial send them to www.rodnolespropertymanagement.
 
You can participate in the show by calling 318-442-8255 (talk) between 8:05 and 8:55 on Wednesday morning.  Do not attempt to call Saturday this is our encore performance (fancy way to say taped).
 

Our Christmas Tornado Story:
 
I was in New Orleans on Christmas afternoon when my cell phone rings with our maintenance director on the line telling me he was at Washington Square and tornado had just hit the building. I arrived on site at 4:30 pm and saw Richard Kyle and his wife with gloves on pulling tin sheets off Lee Street.
 
Later in the week my wife asks for one word that could sum up my emotions? That word would be gratitude. Grateful no one was in the building and grateful we live in small town. First person I called while on site 7:00 am day after Christmas was Dirk Leopard his company glass specialty replaced broken glass in 30 minutes. Then I saw Jeff Burns and Dirk Foster working on Jim Hurst house and that’s when second miracle started. No written narrative here but hope Jeff Burns will call in.
 
List for Thank Yous Include, But not Limited To:
 
City of Alexandria, AT&T, Turner Telco, Joe Arnold, Steve Ayers, Herbert Nugent, law enforcement agencies, tenants at Washington Square, Scott Wallace, Lyle Bergeron, Kerry LaBauve, Michael Reese, Paul Davis restoration, Cal Moody, Martin Heyman, Doug Byrd, my investment partners, Red River Bank.
 
I Drove to Stones Throw Subdivision over the Weekend and Our prayers are with those home owners struggling to re-build.
 
Every Deal has a Tale / Tail:
 
Sundrop Buys Cowboy Town: Yahweh, LLC (5015 Hwy. 71, Tioga, LA 71477) to Sundrop Fuels Louisiana, LLC (2410 Trade Center Ave., Longmont, CO 80503) - 27.74 acres in Sec 4, 5, & 6, T5NR2W, $2,500,000. You want to be the first grandson, second spouse, and third owner of Cowboy Town.
 
V&V buys $2,300,000 490 acre Parcel West of Versailles from Lake District.
 
McKesson Building is Going Back to the Lender: U S Bank Vs MacArthur Business Park Phase A, LLC - 12.061 acres in Sec 23, T3NR1W, $4,810,567.79.
Front 8 acres is outside the mortgage and I am still staying with my predictions that Olive Garden will be on that site.
 
People not Property:
 
Chuck Fowler my neighbor, friend, and district council member Kudos for election and willing to serve a council president for City of Alexandria.
 
England Authority Sales:
 
Barbara & Christopher Mathews (135 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot G, Bayou Grosse Park Subd. Ext. # 2, $180,000.00
 
Construction Contracts:
 
LA Division of Administration to Pat Williams Construction, Inc. (P O Box 1508, Leesville, LA 71496) - Replacement of dormitories, LA Special Education Center, $8,125,500.00
 
LA DOTD to Diamond B Construction Co., LLC - 2.108 road work on LA 623, $973,638.46
 
City of Alex. to T L Construction Co. - Zoo Children's Area Buildings Roof Replacement, $176,803.00
 
City of Alex. to Ace Roofing, Inc. - Call Center Roof Replacement, $179,000.00
 
(+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 December 17thh through 28th all scores will be double for this show.
(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:
 
86 transactions with total volume of $12,906,099 very near two week volume of $13,000,000, Rod was correct in predicting large sales at year end. Two sales over $2,000,000 Cowboy Town and Lake District.

(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market gave us seven needed four with double week for positive score.
 
Imn Jabbar & Nancy Khawaimi (9019 Lake Mist Dr., Baton Rouge, LA 70810) to William B & Nancy J Lonsberry (717 West Way Dr., Alex., LA 71303) - Lot 47, Tennyson Oaks Subd., $65,000.00
 
Trang T Tran (337 Jacob B Loop, Pineville, LA 71303) to Jerry L Carter (5732 Good Land Trace, Alex., LA 71301) - Lot 158, Tennyson Oaks Subd., Phase 7-B, $95,000.00
 
Melot Construction, LLC (115 2nd St., Colfax, LA 71417) to Courtney Y Ellis (4831 Betty St., Alex., LA 71302) - Lot 12, Sq G, Martin Park Subd., $13,000.00
 
Phillip L Carney, Jr. & Jamie S Carney (136 Amanda Lane, Alex., LA 71303) to Michael D & Mallory A Heyward (82 Ragan Dr., Alex., LA 71303) - Lot 44, St. Andrews Links Estates, Phase Two (233 Links Dr., Alex., LA 71303), $38,000.00
 
Robert A Rayford, Jr. & Betty A Rayford (243 Wilderness Dr., Boyce, LA 71409) to Joann P Swain (4600 W Village Place, Apt. 4321, Smyrna, GA 30080) - Lot 94, Woodlands, Phase IV, $39,000.00
 
Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Jarred G & Maggie E Tarver (2011 West Bryant Road, Centerpoint, LA 71323) - Lot 216, Tennyson Oaks Subd. (6214 Arden Oaks, Alex., LA 71301), $58,500.00
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to James I Lucas, III & Shonya R Lucas (1607 Hwy. 115, Deville, LA 71328) - 4.131 acres in Sec 9, T4NR3E, $60,000.00

(-1.25) New Home Sales:
 
Looking for one new home sale per week for positive score market needed two for double week only had single new home sale for negative score.
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Drew L & Katie E Wright (237 St. Andrews Dr., Alex., LA 71303) - Lot 100, St. Andrews Links Estates, Phase III (237 St. Andrews Dr., Alex., LA 71303), $363,000.00
 
(-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 nine sale for total volume of $573,655 / $13,000,000 = 4.41%
 
Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite1000, Dallas, TX 75254) to Lydia M Jordan (611 Pearce Road, Pineville, LA 71360) - Lot 8, Ext. of Pearce Road Subd., $79,900.00
 
Southern Heritage Bank (P O Box 8, Jonesville, LA 71343) to Wagoner Properties, LLC (106 River Oaks Dr., Pineville, LA 71360) - Lot 61, Sharon Park Subd., $70,000.00
 
Federal National Mtg. Assoc. to Logan Bonnette (3804 McKeithen Dr., Alex., LA 71303) - Tract in Sec 29, T3NR2W (120 Hamp Smith Road, Woodworth, LA 71485), $76,000.00
 
BancorpSouth Bank (4600 Jackson St., Alex., LA 71301) to Housing Options of LA, LLC (7571 Hwy. 1 South, Alex., LA 71302) - Lot 13, C J Ellington Subd., et al (405 Harold Glen St., Alex., LA 71302), $14,000.00
 
Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Quail Creek Apts. Of Pineville, LLC (2133 Simmons St., Alex., LA 71301) - 4.03 acres in sec 17, T4NR1E, $85,000.00
 
The Peoples State Bank (880 San Antonio Ave., Many, LA 71449) to The United Educational Missionary Baptist Association, Inc. (2911 Cypress St., Alex., LA 71301) - .41 acres in part of Lot 1 of a subdivision of the Garner Tract, $75,000.00
 
Sabine State Bank (P O Box 670, Many, LA 71449) to Michael Harris (P O Box 7172, Alex., LA 71301) - Lot 9 & part of 8, Blk 3, Furney Adams Subd., $26,000.00
 
J P Morgan Chase Bank (3415 Vision Dr., Columbus, OH 43219) to Federal Home Loan Mtg. Corp. (8200 Jones Branch Dr., McLean, VA 22102) - .2443 acres in Sec 52, T4NR2W (126 Carolyn Lane, Alex., LA 71303), $82,755.07
 
Standard Mtg. Corp. (701 Poydras St., Suite 300 Plaza, New Orleans, LA 70139) to Johnson Sullivan Fairbanks (1415 Mohon St., Alex., LA 71303) - Lot 16, Pine Acres, C F Chevallier Subd. (213 Chevallier Circle, Ball, LA 71405), $65,000.00
 
Preview on Predictions for 2013:
 
Would like for our listeners to phone in with what they think will happen in our market next year.
 
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”.
 
New Oil wells will be drilled in Rapides Parish
 
Bentley Hotel rehab will begin but will not be open by Christmas 2013
 
Jena Choctaw Casino will be opened before my 63rd birthday.
 
Sundrop Fuels will buy 1,200 acres next to Cowboy Town that they now own. 
 
PR team (Priscilla and Rod) will be #no 2 in production at Noles-Frye Realty Inc behind Rose Steepleton.
 
Only three new bank branches in Rapides parish.
 
New Apartment complex in Pineville.
 
New Hotel announced in Alexandria but none in Pineville until the liquor laws change.
 
Olive Garden will start construction.
 
Coliseum renovation will begin $23 million on top of $7.5 million fire station, $8 million dorm for state facility, and V&V development on West side of Versailles. Highway 28 West with completion of connection to Leesville and other development is 2013 Hot Spot.
 
By year end there will be a shortage of residential lots in certain areas of Alexandria. 
 
2013 is my last year on the radio show December 18th is final show. Christmas is on Wednesday next year.
 

Interest Rates:
 
30 year rate was 3.45% this week is 3.40%, the 15 year rate was 2.84% this week it is 2.81%, the 5/1 ARM was 2.85% now 2.82%.
 
What was DOW on last trading day close of Friday was 12,938 what was it 12-28-2011 and ytd return %

Indices

 

Last

Last Week

YTD return %

DJIA

13096.31

13311.72

6.59%

NASDAQ

2985.91

3050.39

14.24%

S&P 500

1418.10

1443.69

12.28%

MSCI EAFE

1609.75

1616.95

15.52%

Russell 2000

837.40

852.49

12.41%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.17

0.07

30-year mortgage

3.37

3.95

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.607

1.566

Dollars per Euro

1.321

1.307

Japanese Yen per Dollar

85.980

77.830

Canadian Dollars per Dollar

0.995

1.020

Mexican Peso per Dollar

13.023

14.039

 
Commodities

 

Last

1-year ago

Crude Oil

90.87

101.34

Gold

1663.05

1590.64


Bond Rates

 

Last

1-month ago

2-year treasury

0.26

0.25

10-year treasury

1.71

1.62

10-year municipal (TEY)

2.69

2.67

 
 

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. 
 
December 12, 2012 FOR IMMEDIATE RELEASE Contact: Stephen Waring Direct Line: (504) 569-9323 Mobile: (504) 373-7889 Email: swaring@latterblum.com 
 
 

 
 

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