Rod's Notes Archives for 2013-02

Rod's Notes For Wednesday 02/27/13


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). KSYL has now added Wednesday evening encore at 8:00 pm

 

Every Deal has a Tale / Tail:

 

Libby plant in Shreveport to close: 700,000 sf facility and over 200 jobs this report follows last week announcement of 580 job lost with squadron moving to Tucson.

 

McKesson Building 10:00 AM Sheriff Sale Bank or America and others foreclosing on $4,800,000 I will not be there to bid on the sale. I all probability the lender will buy it in and it will be interesting to see what happens to this piece of real estate. For recent history lesson on 22 acres and 172,000 sf. Building I will share from first person perspective.

 

1.    K-Mart was formerly in West Gate Shopping center. We were approached by an Atlanta Developer to acquire some land for new K-Mart super store. David Woodring and I recommended where Home Depot is now. Four fat guys arrive at Esler Field in private jet and after property tours choose an assemblage site with store located behind AT&T tower that will not be moved. David Woodring was so frustrated with the decision he asked me to complete the property assemblage after 2 years and 35 parcels the site was purchased.

2.     During site assemblage Larry Smith and I traveled to Ohio to see first two K-Mart Super stores one in Medina and other in Montrose and returned telling K-Mart’s site guy they had the wrong location. The site guy agreed but corporate said move ahead

3.    Developer builds the store and leases it to K-Mart for a few years and sees that maybe he should sell the store to the tenant. K-Mart pays $11,000,000 and becomes store owner.

4.    K-Mart goes bankrupt. During this same time Maurice Hebert and I are working on consolidating McKesson which was formerly Baker Manufacturing from 4 locations into single large lease space. While on vacation in New York with Charlie and Millie Soprano I set up business lunch with then owners of I-Hop center and met David Friedman and his partners at Four Seasons. At lunch I pitched them buying K-Mart property with idea of rehab for McKesson.

5.    David Friedman’s group (I was minority owner with small ownership interest) purchased the property for $4,000,000. K-Mart was not even sure they owned the property and Maurice and I worked with CB Richard Ellis broker from Chicago great guy

6.    McKesson paid for over $6,000,000 of tenant improvement and signed 7 year lease. Less than 3 years into the lease McKesson sells this business unit to Parata who moves the division to North Carolina and continues to pay rent for 4 more years.

7.    Today the back 12 acres (front 4 acres was outside the mortgage) goes up for Sheriff Sale with foreclosure on $4,800,000 mortgage. When the lender gets this property back our local and state economic development team will find one to three users for this location and the property will come back to life.

 

Alexandria Seed Warehouse facility on Broadway sells for $600,000

 

Ken Moran Holdings, LLC (P O Box 1386, Alex., LA 71309) to Yahweh, LLC (5015 Hwy. 71, Tioga, LA 71477) - Tract in Sec 5, T4NR1W, et al, $500,000.00.

 

Ken Moran Holdings, LLC (P O Box 1386, Alex., LA 71309) to D & J Investments of Cenla, LLC (P O Box 1719, Tioga, LA 71477) - Tract fronting 500' on Chicago St., Alex., LA, $100,000.00

 

Nursery Sale

 

Lo Arkharath and Toun B Ackharath (11006 Blue Feather Dr., Houston, TX 77064) to Lisa H Ngo (P O Box 25, Eules, TX 76039) - 29.17 acres in Sec 35, T1SR2W (172 Oil Field Road, Glenmora, LA 71433), $151,716.50.

 

Big Sale closing Thursday in Baton Rouge: Should be front page story in Town Talk on Friday wish I could announce today but I can’t.

 

Lambright Rig: plugged and abandoned rig seen pulling out on Twin Bridges need drive by reporter update.

 

Emails from Listeners:

 

Barbara Bonnette and Jack Hodges are both looking for 1,000 to 5,000 acres with very little luck finding property owners that want to sell. Many more buyers than there are sellers for acreage of any type.

 

LOOKING FOR HOME IN THE COUNTRY WITH LAND???

 

1.   111 SUGARTOWN RD GLENMORA,,,(HINESTON/CALCASEAU COMMUNITY)   3BED 2 BA ON 16.5 ACRES  ($50,000 ESTIMATED TIMBER VALUE) $210,000

 

2.   131 GOODMAN RD GLENMORA,,,(HINESTON/ CALCASEAU AREA) RD OK 3/2 0N 3 ACRES 10 YRS OLD, BARN, GAZEBO, HUGE SHOP (RV PARKED INSIDE) $225,000

 

3.   95 ELMER FRAZIER RD (GARDNER) OLD CABIN 3/2 ON 15 ACRES $119,900

 

4.   210 WHITE OAKS BLVD    (NEAR TUNKS) RD OK 4/2 BIRCK FENCED BACK YARD FP VAULTED CEILING GARAGE ENCLOSED FOR EXTRA LIVING SPACE $149500

 

5.   10 ASHTON RD (CORNER OF ST CLAIR RD & ASHTON COTILE AREA) 4/2 NEEDS TLC 3 MINS FROM THE LAKE $59,900

 

6.    00 HWY 121 HINESTON (6ACRES) ALL ROAD FRONTAGE MAKE OFFER $66000

  

Steven Seale

Associate Broker

Barbra Difulco Real Estate

 

Case Shiller index reports nationwide 6.8% average increase in home value over last year:

No secret which markets  had biggest percentage increase. Just ask yourself what markets had the biggest decline in past four years? Detroit, Phoenix, is the leaders in percentage gain.

 

There is no national weather report that tells you there is sunshine in your back yard today. Even in our small market in Central La there are sub markets that have performed better than market overall. Thirty year mortgage rate at 3.56% helps drive demand but I do not get a sense of big increase in values across the board locally.

 

People not property: 

 

Kudos to LC girls’ basketball team and best of luck in first round of NCAA tourney.

 

Jeff Matthews for his story pointing out that Alexandria is in 50 for improved markets for conditions favorable to remodeling. 6 areas of measurement by remodeling magazine include:

 

1.    Household median income

2.    Household growth

3.    Median existing home prices

4.    Unemployment

5.    Existing home sales

6.    Number of housing permits issued.

 

High School basketball and the state play offs, great fun and good memories.

 

Bill Balbonie U.S Forest Service award for “Professional Conservationist Award” interesting reading his article of working with young people to teach them the importance of Conservation just like re-planting it is a long term vision and process. Kudos Bill

 

Construction Contracts: last week and this week. City spends $404,174 on elevators

 

City of Alex. to Otis Elevator Co. - 2012 Renovations to elevators at city hall, $244,384.00

 

City of Alex. to Otis Elevator Co. - 2012 Renovations to elevators at customer service, $159,790.00

 

Mykoff Absorption report:

9.53    total market 791 homes listed / 83 sold = 9.53 with 156 new listings

26        above $400,000 total market 26 homes listed 0 sold 2 new listings

18.4    $250,001 to $400,000 with 92 homes on market / 5 sold = 18.4 and 19 new listings

11.1    $150,001 to $250,000 with 234 active listings / 21 sold = 11.1 and 45 new listings

7.7       under $150,000 with 439 / 57 sold = 7.7 and 90 new listings.

 

(+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 February 18th though February 22nd, 2013

 

(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 of $3,618,184 with 31 sales rates negative score for the week. Largest sale for this 5 day period was $315,000 new construction at Cross Gates.

(+1.25) Lot sales: To rank positive score need one sale the market gave us one sale. Rose put another Tennyson Oaks under contract now have 4 lots remaining in inventory.

 

Price Right Properties, LLC (4400 Hwy. 28 East, Pineville, LA 71360) to Randy J Deville (12 Grandpaw Dr., Pineville, LA 71360) - Lot 12, Buckeye Ridge Subd., Phase II (309 Buckeye Ridge Loop, Deville, LA 71328), $37,900.00

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

 

Johnny Porter & Son Contractors, Inc. (42 Philadelphia Road, Pineville, LA 71360) to Richard C & Ashley M Tam (P O Box 3828, Pineville, LA 71360) - Lot 4, Prarie Land Subd. (458 Hooper Road, Deville, LA 71328), $143,000.00

 

Elite Development, LLC (300 Wilderness Dr., Boyce, LA 71409) to Robert S & Delia L Sanders (4027 Huntwick Blvd., Alex., LA 71303) - Lot 22, Crossgates, Phase II (6030 Stonegate Dr., Alex., LA 71303), $315,000.00

 

Three B Construction, LLC (P O Box 2167, Prairieville, LA 70769) to Laurie A Kirkham (111 Maria Lane, Pineville, LA 71360) - Lot 17, Shadow Creek Ranch Subd., Phase I (338 Shadow Creek Ave., Pineville, LA 71360), $168,900.00

 

(+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 three sales with total volume of $159,600 / $3,618,184 = $.41%

 

The Union Bank (305 North Main St., Marksville, LA) to Trent M Dauzat (3127 Hwy. 457, Alex., LA 71302) - 1 and 6.97 acre tracts in Sec 21, T2NR2E, $25,000.00

 

Sec. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Bobby Hollow Development, LLC (12 Gene Gunter Road, Deville, LA 71328) - Part of Lot 1, Blk 3, Ozone Heights Subd., $49,600.00

 

J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Robert L & Lisa O Ray (200 Gillis Road, Boyce, LA 71406) - Tract in Sec 11, T1NR4W (25 R Weatherford Road, Hineston, LA 71438), $85,000.00

 

Interest rates, third week of slight increase: 30 year rate was 3.68% this week is 3.56%, the 15 year rate was 2.90% this week it is 2.86%, the 5/1 ARM was 2.81% now 2.72%.

 

Looks like investor’s sales: four sales with investor volume of $322,092 / $3,618,184 = 8.90% of total sales

 

Mary M Chevis (358 Sunshine Road, Opelousas, LA 70520) to Bino Real Estate, LLC (107 Hospital Dr., Oakdale, LA 71463) - Tract in Sec 10, T4NR1E, $82,500.00

 

Jimmie Thompson Enterprises, LLC (212 Ridgewood Blvd., Alex., LA 71303) to Trustland, LLC, et al (5615 Jackson St., Building L, Suite D, Alex., LA 71303) - .596 acres in Sec 66, T4NR2W, $10,312.50

 

MRL, LLC, et al (P O Box 3401, Pineville, LA 71360) to Charles D Sanders, II & Alisha G Sanders (6611 Lost Ridge Dr., Pineville, LA 71360) - 25.68 acres in Sec 31, T5NR2E, $177,000.00

 

Roy O Martin Lumber Co., LLC (P O Box 1110, Alex., LA 71309) to Stephen M & Katrina M Dye (1071 Blue Lake Road, Forest Hill, LA 71430) - Tract in or near Sec 9, 10, & 11, T4NR2E (TBD Philadelphia Road, Deville, LA 71328), $52,280.00

Rod's Notes For Wednesday 02/20/13


Rod Noles Property Management, Inc.

 

 Rod’s Radio Show Notes February 20th 2013

 

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

 
Every Deal has a Tale / Tail:
 
“Fighter Squadron to leave Barksdale AFB” Front Page Shreveport Times on Saturday and A4 Town Talk on Sunday
 
47th Fighter Squadron will send its airplanes and most of its pilots to Tucson by the end of September. A-37 Dragonflies and our A-10 Warthog have limited life over skies of Louisiana. Sad shutdown will affect roughly 580 people and 24 aircraft.
 
During closure of EAFB I was on national circuit for lectures to real estate community and limited consultant assignments. There has always been an urban myth that Washington’s choice of which states get hit the hardest is directly related to election results from last race. Did Arizona carry Obama?
 
In terms or realignment for military procurement plants and facilities everyone is in one of the following 4 stages:
 

  1. Anticipation
  2. Announcement
  3. Closure
  4. Reuse

 
Each stage has impact on local economy and surrounding areas. The greater time there is between each stage the greater the damage. Our gifts locally were speed between each phase, and leadership on private and government side for rapid reuse. No plant or base is immune to short term negative affects of realignment and extend time between each stage is harmful at many levels. 2020 holding time period for Fort Polk puts so many economic moves in Vernon Parish on hold. 
 
Alexandria Seed Warehouse facility on Broadway sells for $600,000
 
Ken Moran Holdings, LLC (P O Box 1386, Alex., LA 71309) to Yahweh, LLC (5015 Hwy. 71, Tioga, LA 71477) - Tract in Sec 5, T4NR1W, et al, $500,000.00.
 
Ken Moran Holdings, LLC (P O Box 1386, Alex., LA 71309) to D & J Investments of Cenla, LLC (P O Box 1719, Tioga, LA 71477) - Tract fronting 500' on Chicago St., Alex., LA, $100,000.00
 
Story of John Cade and his friends on sale and lease back (1) Ray Frye (2) L.H. Bossier (3) Elton Beebe (4) David Treen (5) Nunguesser (6) Patrick Taylor and (7) John Lilgenberg at $1,900,000. Later sold to Ken Moran at $1,300,000 by agent Randy Perego
 
Office Depot and Office Max are working on merger: Biggest competition is Staples and Amazon.com Inc. Office Depot market value is $1.3 billion and Office-Max is $933 million. Office Depot based in Boca-Raton, Fla has 1,675 stores and annual sales of $11.5 Billion with 39,000 employees. OfficeMax based in Naperville, Ill. has 900 stores sales in $7 billion range and 29,000 employeesFTC blocked earlier merger of Staples and Office Depot in 1997> Merger would give the combined companies options to cut cost which mean fewer stores and fewer employees. Office Max story with Jeff Moore the developer and refusal to sub lease 10 year vacant store at less than $8 psf. The store has been dark but tenant has been paying of $224,000 per year. Lease expires soon and property will most likely go back to the lender.
 
Readers Digest files for Bankruptcy for 2nd time
 
Mortgages of Interest:
 
Catahoula Fields Oil & Gas, LLC Ricky McGowan, Eunice, La. (1837 Crane Ridge Dr., Jackson, MS 39216) to Future Holder - Mineral rights in 2.64 acres in Sec 26, T5NR3E and multiple other tracts, $4,000,000.00 This appears to be a mortgage for drilling company you can see new oil rig on Lambright property near intersection of Twin Bridges and McKiethen drive across Gamburg farm to the south.
 
Wasmer Properties, LLC (2036 Jackson St., Alex., LA 71301) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Tract known as 2036 Jackson St., Alex., LA 71301, $500,000.00
 
Kenneth J & Charlotte A Wasmer (2736 Georges Lane, Alex., LA 71301) to Red River Bank (1412 Centre Court, Alex., LA 71301) - 1.966 acres fronting Georges Lane (2736 Georges Lane, Alex., LA 71301), $600,000.00
 
 
Emails from Listeners:

I am behind on emails, if you sent me something this week I will report next week.
 
People not Property: 
 
Terry Bradshaw Today in America segment highlights Pineville. Share story of Bradshaw as fraternity brother at La. Tech.
 
B.G. Dyess 90 years old passed away former State Senator legend for driving home each night after the session to take care of his wife Ava.
 
Construction Contracts: last week and this week.
 
Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Sam's Air Conditioning Maintenance Service, Inc. (P O Box 5376, Alex., LA 71307) - Renovations to Pineville Jr. High School, $271,500.00
 
Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Hahn Enterprises, Inc. (P O Box 19495, New Orleans, LA 70179) - Pineville Jr. High School Bleachers, $43,900.00
 
Cenla Occupational Medicine Services (4219 Hwy. 28 East, Pineville, LA 71360) to The Migues-Deloach Co., LLC (2712 Davis Dr., Pineville, LA 71360) - Cenla Occupational Medicine Services project, $517,160.00
 
Mykoff Absorption Report:
 
9.53 total market 791 homes listed / 83 sold = 9.53 with 156 new listings
26 above $400,000 total market 26 homes listed 0 sold 2 new listings
18.4 $250,001- $400,000 with 92 homes on market / 5 sold = 18.4 and 19 new listings
11.1 $150,001-$250,000 with 234 active listings / 21 sold = 11.1 and 45 new listings
7.7 under $150,000 with 439 / 57 sold = 7.7 and 90 new listings.
 
(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:
 
Business days from February 11th though February 15th 2013
 
(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 of 39 transactions that is close enough to 40 that I will rank it as positive volume of $3,870,224. If you remove $600,000 Ken Moran sale just over 3 mill at $3,270,224

(+1.25) Lot Sales:
 
To rank positive score need one sale the market gave us four which rates a positive score
 
Jonas E & Cherry L Gauthier (52 Creduer Road, Pineville, LA 71360) to Gregory L Trotter (5003 Masonic Dr., Alex., LA 71301) - Lot 2, The Lake District, Phase 1 (4724 Collinsburg, Alex., LA 71303), $98,500.00
 
Richfield Developments, LLC (P O Box 1470, Jena, LA 71342) to Clinton P Robertson (126 Moss Ridge, Pineville, LA 71360) - Lot 31, Richfield Subd., Phase 1, $31,500.00
 
B.R. Collins Construction, LLC (P O Box 4105, Pineville, LA 71360) to Nicholas & Calandra A Jasmine (4224 Lisa St., Alex., LA 71302) - Lot 23, Collins Estates, Phase III, $20,000.00
 
Robert L Barron, Sr. & Agnes B Foster (2347 Beda Road, Hatford, KY 42347) to David F Barron (327 Woodland Dr., Pineville, LA) - Lot 4, Woodland Hills Addn., $50,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale market gave us three for positive score
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Gregory B Wilder (5445 Provine Place, Apt. 602, Alex., LA 71303) - Lot 325, West Pointe on the Bayou Subd., Phase XII (205 West Bronson Dr., Alex., LA 71303), $280,780.00
 
Three B Construction, LLC (15418 Therese Court, Prairieville, LA 70769) to Charles R Bankester (410 Pine Lake Road, Pineville, LA 71360) - Lot 16, Shadow Creek Ranch Subd., Phase I (334 Shadow Creek Ave., Pineville, LA 71360), $166,900.00
 
Campbell's Construction, Inc. (8246 Old Hwy. 71 North, Pineville, LA 71360) to Helen B Johnson (220 Ates Road, Pineville, LA 71360) - Lot 11, Jennifer's Place Subd. (1031 Jennifer's Place, Pineville, LA 71360), $137,000.00
 
Helen B Johnson (220 Ates Road, Pineville, LA 71360) to Campbell's Construction, LLC (8246 Old Hwy. 71 North, Pineville, LA 71360) - 1.43 acres in Sec 15, T5NR1W, $125,000.00
 
(+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 with total volume of $143,600 / $3,870,224 = 3.7%
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to Bino Real Estate, LLC (107 Hospital Dr., Oakdale, LA 71463) - Tract in Sec 52, T4NR2W, $52,500.00
 
Sec. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Jon F Norman, Jr. (4351 Hwy. 107, Pineville, LA 71360) - 8.62 acres in Sec 31, T4NR1E, $91,100.33
 
Interest Rates:
 
Third week of slight increase: 30 year rate was 3.64% this week is 3.68%, the 15 year rate was 2.93% this week it is 2.90%, the 5/1 ARM was 2.81% now 2.83%.
 
Looks Like Investor’s Sales:
 
With a dollar volume of $1,158,600 / 3,870,224 = That’s 30%
 
Sec. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Jon F Norman, Jr. (4351 Hwy. 107, Pineville, LA 71360) - 8.62 acres in Sec 31, T4NR1E, $91,100.33
 
Succn of Dorothy I Regan, et al (471 Hardwater Lake Road, Pollock, LA 71467) to Dixon Rentals, LLC Maria Losavio (1821 MacArthur Dr., Alex., LA 71301) - Lot 3, Blk 3, Plantation Acres Subd. (1410 Planters Court, Alex., LA 71301), $82,000.00
 
David L Powers (5528 Navaho Trail, Alex., LA 71301) to Dixon Rentals, LLC Maria Losavio(1821 MacArthur Dr., Alex., LA 71301) - Lot 33, Chandler Park (5528 Navaho Trail, Alex., LA 71301), $110,000.00
 
Ronald L & Elaine R Haworth (5000 Jackson St. Ext., Apt. 5022, Alex., LA 71303) to Sadie & Sophie Investments, LLC Sam Mahfouz(1301 Wimbledon Blvd., Alex., LA 71303) - Lot 12, Sq 3, Plantation Acres (1504 Plantation Dr., Alex., LA 71301), $105,000.00
 
Chuck A Knight (4406 Walden Dr., Pineville, LA 71360) to Sadie & Sophie Investments, LLC Sam Mahfouz (1301 Wimbledon Blvd., Alex., LA 71303) - Lot 4, Blk 5, Plantation Acres Subd., Part II (1708 Magnolia Dr., Alex., LA 71301), $118,000.00
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to Bino Real Estate, LLC Binitha Joseph Dr. in Oakdale(107 Hospital Dr., Oakdale, LA 71463) - Tract in Sec 52, T4NR2W, $52,500.00
 
Ken Moran Holdings, LLC (P O Box 1386, Alex., LA 71309) to Yahweh, LLC James Greer (5015 Hwy. 71, Tioga, LA 71477) - Tract in Sec 5, T4NR1W, et al, $500,000.00.
 
Ken Moran Holdings, LLC (P O Box 1386, Alex., LA 71309) to D & J Investments of Cenla, LLC (P O Box 1719, Tioga, LA 71477) - Tract fronting 500' on Chicago St., Alex., LA, $100,000.00
 
Indices

 

Last

Last Week

YTD return %

DJIA

13973.39

13944.05

6.63%

NASDAQ

3198.66

3165.13

5.93%

S&P 500

1521.38

1509.39

6.67%

MSCI EAFE

1672.63

1661.10

4.28%

Russell 2000

923.76

908.10

8.76%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.17

0.13

30-year mortgage

3.53

3.87

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.549

1.568

Dollars per Euro

1.334

1.312

Japanese Yen per Dollar

93.090

78.420

Canadian Dollars per Dollar

1.002/td>

1.000

Mexican Peso per Dollar

12.690

12.785

 
Commodities

 

Last

1-year ago

Crude Oil

97.31

100.74

Gold

1634.50

1716.07

 
Bond Rates

 

Last

1-month ago

2-year treasury

0.27

0.25

10-year treasury

2.03

1.84

10-year municipal (TEY)

3.07

2.92

 
 
 
 

 
 

Rod's Notes For Wednesday 02/13/13


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). KSYL has now added Wednesday evening encore at 8:00 pm

 

Every Deal has a Tale / Tail:

 

Couple of weeks back I mentioned trade publication that announced Block Buster would be closing more stores. The company released a list of store closings for the country. Two stores were in our area both in Leesville, 3 stores in New Orleans, one in Monroe and one in Hammond.

 

Two sales reported in last few weeks on highway 165 that accrued between Pineville High School and Cottingham Expressway. The community has underestimated the impact of $82 million dollar bridge completion will have on 165 corridor. If you package this with the lift on ban for alcohol sales in Pineville you might consider it a good time to own land on 165 or 28 East. Good people can argue if alcohol sales will or will not be healthy for Pineville but it is hard to argue over missed real estate sales due to lack of alcohol sales.

 

D & J Investment of Cenla, LLC, James Greer et al (P O Box 1719, Tioga, LA 71477) to E P Capital, LLC Eric Petroskey (277 LaCroix Road, Pineville, LA 71360) - 1 acre in Sec 12, T4NR1W, et al, $650,000.00. The tenant is automotive collision center and the sale includes vacant land next door. James Greer purchased large warehouse complex yesterday and since it is not in the legal news yet I will wait until next week to announce.

 

Bonner's Properties of Cenla, LLC (2600 Monroe Hwy., Pineville, LA 71360) to Redmon's Automotive Clinic, LLC (2600 Monroe Hwy., Pineville, LA 71360) - 1.91 acres in Sec 1, T4NR1W, $675,000.00

 

Two sales this week by MRL LLC registered agent William Barron

 

MRL, LLC (P O Box 3401, Pineville, LA 71360) to Commercial Partners, LLC (3219 Marye St., Alex., LA 71301) - 40 acres in Sec 31, T5NR2E, et al, $83,500.00

 

MRL, LLC (P O Box 3401, Pineville, LA 71360) to Mid South Retirement Services, LLC Jerry Pearson for the benefit of William F James, Jr., et al (90 Harold Miles Park Road, Boyce, LA 71409) - 40 acres in Sec 42, T4NR2E, $90,000.00

 

C & A Development of Cenla, LLC Carroll Wayne Johnson (P O Box 13295, Alex., LA 71315) to Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) - 6.08 acres in Sec 13, T5NR1W, $185,000.00. Looks like a parcel of real estate to develop.

 

Flowers Food Inc. based in Thomasville, Ga. Is stalking horse for bankruptcy auction in mid-March offering $360 million for 20 plants, 38 depots and brands that include Wonder and Nature’s pride. I am curious what this means to our closed bakery in Central La.

 

Pines Casino opens in Creola I will make a weekend visit and report next week. I totally agree with Fred Rosenfeld’s comment about the tribe’s tenacity and can well remember option on land adjacent to Cowboy Town the site of new Sundrop Fuels plant. It is a shame that joint venture partner HK Stanley did not live to see the opening of this casino.

 

Closer to home rehab following Christmas day tornado at Washington Square is nearly completed on larger building. 13,000 square foot building at 16th street is still opened to the elements and final plan is still undecided. Tenants, City, Vendors, and Hartford Insurance have come through with very high marks and much appreciation.

 

Emails from Listeners:

 

Meant to advise you earlier but we had 101 Yorktown listed. Also have good activity in Plaza 28 with Allstate administrative office, Goodwill administrative office under construction, a home health will go under construction soon as well as two leases on the Wal-Mart side that I cannot elaborate on at this time. Enjoy your show!

Thanks,

 

Maurice L. Hebert, CCIM

Broker/Owner

 

Boom Times Return?

 

We know now that 2012 was a very good year for housing in Acadiana. In Lafayette Parish the number of home sales reported to the REALTOR Association of Acadiana Multiple Listing Service (MLS) rose by 22.5% over 2011. New Construction home sales increased by over 30%, while sales of previously owned homes rose by 19%. Although sales did not attain the levels of our post-Katrina/Rita years of 2006 -2007, we ended 2012 pretty close to those record years.

 

So what might 2013 hold for us? Of course, only one month’s data is not sufficient evidence to predict any sort of trend, but in our attached January 2013 report one certainly can’t repress a feeling that 2013 may end up being our best year ever in residential sales. Here are some of the notable numbers notched up in January:

 

·         The number of Lafayette Parish closed home sales reported to the MLS in January (199) was up by 43% over January 2012 (139). New Construction sales rose by 41% while re-sales were up by 44%. While those are impressive statistics, even more impressive is that, according to my monthly sales tracking data, the closed sales reported this January was an all-time record breaker. The closest past January number reported was in January 2007 when 173 sales were reported to the MLS (Page 2).

 

·         The $41,293,473 volume of January’s Lafayette Parish closed home was also record setting with January 2007’s $33,749,940 being the closest to date. Both new construction with a 53% increase and re-sales with a 94% increase over January 2012’s respective dollar volume registered impressive gains (Page 4).

 

·         Evidence that demand remains extremely strong, the number of Lafayette Parish pending home sales reported in January rose by over 30% over January 20012. The 306 reported pending sales was also a record breaker exceeding the 298 previous record reported in January 2007. So too for the $61 plus million in dollar volume of pending sales reported in January. This bested the previous January record reported in January 2007 of just over $60 million (Pages 6 and 8).

 

·         As far as the balance of supply and demand, Page 14 of the report shows that January 2013 ended with a 5.2 overall number of month’s supply of housing in Lafayette Parish. This is down from 8.2 month in January 2012. Both re-sales and new construction saw their respective number of month’s supply drop in January 2013 as compared to January 2012 (Pages 15 and 16).

 

Again, one month’s data is not sufficient to predict any trend, but considering the strength that our housing market has shown heading into 2013, one cannot help but ponder as to whether the boom times are back.       

 

William J. "Bill" Bacque

 

Van Eaton & Romero, LLC

A Latter & Blum Company

 

 

People not property: 

 

Cheryl Smith Jena Choctaw’s Chief remained in leadership roll all these years while struggling to open their casino. The fact that you can buy alcohol now in Grant Parish at the Casino might be the tipping point for Applebees and glass of wine in Pineville.

 

Stephen Wright CEO of Christus St. Frances Cabrini Hospital gave great speech on power of inclusion and diversity. Stephen said “if you are not deliberate, it’s not going to happen” I could not agree more needs to begin with our family, our business, our clubs, and our community.

 

Terry Bradshaw Today in America segment highlights Pineville. Share story of Bradshaw as fraternity brother at La. Tech.

 

Construction Contracts:

 

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Sam's Air Conditioning Maintenance Service, Inc. (P O Box 5376, Alex., LA 71307) - Renovations to Pineville Jr. High School, $271,500.00

 

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Hahn Enterprises, Inc. (P O Box 19495, New Orleans, LA 70179) - Pineville Jr. High School Bleachers, $43,900.00

 

Cenla Occupational Medicine Services (4219 Hwy. 28 East, Pineville, LA 71360) to The Migues-Deloach Co., LLC (2712 Davis Dr., Pineville, LA 71360) - Cenla Occupational Medicine Services project, $517,160.00

 

Attachments:

List of closed announced Blockbuster stores in America

 

Mykoff Absorption report:

9.53    total market 791 homes listed / 83 sold = 9.53 with 156 new listings

26        above $400,000 total market 26 homes listed 0 sold 2 new listings

18.4    $250,001 to $400,000 with 92 homes on market / 5 sold = 18.4 and 19 new listings

11.1    $150,001 to $250,000 with 234 active listings / 21 sold = 11.1 and 45 new listings

7.7       under $150,000 with 439 / 57 sold = 7.7 and 90 new listings.

 

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. 

 

(+3.75) Legal recorder data: business days from time period of February 4th though February 8, 2013

 

(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: 34 sales with low volume of $3,797,615 below target for positive rating.

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

 

Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Robert L & Noel A Fontane (6417 Audubon Oaks, Alex., LA 71301) - Lot 189, Tennyson Oaks Subd., Phase 7C (6416 Arden Oaks, Alex., LA 71301), $62,500.00. Only 5 lots remain in inventory at Tennyson Oaks three buys have purchased the adjacent lot or the lot behind their house.

 

Randy D & Angela B McCain (220 Hudson Creek Road, Colfax, LA 71417) to Mark A & Pamela S Chandler (8113 Titleist Dr., Pineville, LA 71360) - Part of Lot 7, Titleist Ext. Subd., $50,000.00

 

Cogent Equity, Inc. (1412 Centre Court, Suite 500, Alex., LA 71301) to Jason S & Stacey L Babb (570 Williams Lake Road, Pineville, LA 71360) - Lot 5, Oakbrook Subd., $17,500.00

 

(+1.25) New home sales: looking for one new home sale market gave us one sale

 

Brittain & White Construction (5512 Jackson St. Ext., Alex., LA 71303) to Jerry L & Janice S Voorhies (66 Foxfire Lane, Alex., LA 71302) - Unit 420A, The Cypress Point at Lake District Condominiums (420A Ansley Blvd., Alex., LA 71303), $289,500.00

 

(+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 only one sale $75,590 / $3,797,615 = 1.99%

 

Sec. of HUD to William S & Rebecca F Byrd (49 Credeur Road, Pineville, LA 71360) - Lot B of a resubdivision of Lots 8-1- & part of 11 & 12, Mabry Subd. (102 Audrey Dr., Pineville, LA 71360), $75,590.00

 

Interest rates: 30 year rate was 3.59% this week is 3.60%, the 15 year rate was 2.93% this week it is 2.89%, the 5/1 ARM was 2.81% now 2.77%.

 

Cap Rates Contract in Auto Parts Sector

Capitalization rates for auto parts chains, including AutoZone, O’Reilly Auto Parts, and Advance Auto Parts, compressed from 4Q11 to 4Q12, according to The Boulder Group’s National Auto Parts Net-Lease Report. A shortage of both investment-grade assets below $2 million in the net-lease market and newly developed assets contributed to the compression. Median asking cap rates remained relatively consistent across the country at a 7 percent

Perkins Rowe auction date set for March By Bill Lodge Advocate staff writer

The foreclosure auction of the mixed-use Perkins Rowe development is scheduled at 10 a.m. March 20 at the U.S. District Courthouse, 777 Florida St. The minimum bid must be at least $63.5 million. KeyBank National Association, an Ohio, filed its foreclosure action in July 2009. The lender had not received any payments on $170 million in construction loans since October 2008. Spinosa, who personally guaranteed his firms’ Perkins Rowe debts, owes the bank $201.9 million. The judge added that interest would continue to build at a rate of $32,510 for each day after Aug. 15. Perkins Rowe has 87 condominiums, 226 apartments, more than 60 shops and restaurants, a bookstore, grocery store, fitness center, a movie complex and a pharmacy. A sale of Perkins Rowe for $63.5 million would shrink KeyBank’s loss to approximately $131 million.

 

Dunkin’ Donuts plans 11 locations in N.O. Dunkin’ Donuts has signed agreements with two franchise groups to develop 11 new restaurants throughout New Orleans over the next several years. Alaa and Dhiya Esmail plan to develop six restaurants in New Orleans, with the first opening this year and the others by 2016. BBC Foods LLC, led by Bhavin and Bharat Chauhan, will develop five restaurants, with the first opening in 2014 and the remainder by 2018.As part of its expansion in Louisiana, Dunkin’ Donuts said it still has franchises available in New Orleans, Lake Charles, Lafayette, Alexandria and Monroe

 

Indices

 

Last

Last Week

YTD return %

DJIA

13944.05

13860.58

6.41%

NASDAQ

3165.13

3142.13

4.82%

S&P 500

1509.39

1498.11

5.83%

MSCI EAFE

1661.10

1687.33

3.56%

Russell 2000

908.10

902.09

6.92%

 

Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.15

0.10

30-year mortgage

3.53

3.87

 

Currencies

 

Last

1-year ago

Dollars per British Pound

1.570

1.590

Dollars per Euro

1.340

1.326

Japanese Yen per Dollar

93.490

76.870

Canadian Dollars per Dollar

0.999/td>

0.995

Mexican Peso per Dollar

12.711

12.629

 

Commodities

 

Last

1-year ago

Crude Oil

95.83

98.41

Gold

1671.25

1746.45

<br />

Bond Rates

 

Last

1-month ago

2-year treasury

0.25

0.25

10-year treasury

1.96

1.90

10-year municipal (TEY)

3.09

3.05

 

Rod's Notes For Wednesday 02/06/13


Rod Noles Property Management, Inc.

 

 Rod’s Radio Show Notes February 6th 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:
 
D & J Investment of Cenla, LLC, James Greer et al (P O Box 1719, Tioga, LA 71477) to E P Capital, LLC (277 LaCroix Road, Pineville, LA 71360) - 1 acre in Sec 12, T4NR1W, et al, $650,000.00 not sure what this is but certain James Greer made $$$$
 
Oaks Care Center, LLC to Capital Funding, LLC - 5.034 acres in Sec 36, T5NR1E, $5,581,400.00. Senior Housing on Pinecrest road adjacent to Union Bank
 
Gary L Ponds (6117 Rachelle Dr., Alex., LA 71303) to I.C. Enterprises, LLC (6604 Tennyson Oaks, Alex., LA 71303) - Lot 13, Villa Rachelle, Phase I, $169,000.00. Only 8 resale’s since August 2008. Folks are happy with this product
 

08/04/2008

1819/847 1376991

Lillian M Pilarinos (6116 Rachelle Dr., Alex., LA 71303) to Maureen O George (6116 Rachelle Dr., Alex., LA 71303) - Lot 4, Villa Rachelle Subd., Phase I, $162,900.00

06/04/2010

1864/197 1425627

Leslie A Valentino, et al (5127 Windermere Blvd., Alex., LA 71303) to Linda W Thompson (5017 Laura Ln., Woodworth, LA 71485) - Lot 32, Villa Rachelle Subd., Phase II (6153 Rachelle Dr., Alex., LA 71303), $172,223.00

08/23/2010

1869/952 1431996

Emily D Tracy (5251 Raphael Dr., Alex., LA 71303) to Dana A Guidry (6161 Rachelle Dr., Alex., LA 71303) - Lot 30, Villa Rachelle Subd., Phase II (6161 Rachelle Dr., Alex., LA 71303), $172,500.00

08/23/2010

1869/956 1431999

Dana A Guidry (6161 Rachelle DR., Alex., LA 71303) to Lenora K Cassell (6164 Rachelle Dr., Alex, LA 71303) - Lot 24, Villa Rachelle Subd., Phase II (6164 Rachelle Dr., Alex., LA 71303), $175,000.00

04/27/2012

1912/724 1474007

Valerie L Aymond, et al (1417 Lake Dr., Woodworth, LA 71485) to Richard R & Nettie A Griggs (6125 Rachelle Dr., Alex., LA 71303) - Lot 11, Villa Rachelle, $165,000.00

12/04/2012

1935/372 1491427

Debra A & Lawrence A McConkey (103 Pleasant Lake Dr., Youngsville, LA 70592) to Stephen J Andrus (6112 Rachelle Dr., Alex., LA 71303) - Lot 3, Villa Rachelle Subd., Phase 1 (6112 Rachelle Dr. ,Alex., LA), $169,900.00

01/14/2013

1940/397 1494443

Neena J Sproles (1025 Chris Crossing, Woodworth, LA 71485) to John R & Kathy L Kyle (6128 Rachelle Dr., Alex., LA 71303) - Lot 7, Villa Rachelle Subd., Phase I (6128 Rachelle Dr., Alex., LA 71303), $167,000.00

01/30/2013

1942/396 1495627

Gary L Ponds (6117 Rachelle Dr., Alex., LA 71303) to I.C. Enterprises, LLC (6604 Tennyson Oaks, Alex., LA 71303) - Lot 13, Villa Rachelle, Phase I, $169,000.00

 
Highlights of Interesting Deals and Noticeable Trends for January 2013
 
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.
 
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
 
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
 
Bonner's Properties of Cenla, LLC (2600 Monroe Hwy., Pineville, LA 71360) to Redmon's Automotive Clinic, LLC (2600 Monroe Hwy., Pineville, LA 71360) - 1.91 acres in Sec 1, T4NR1W, $675,000.00
 
The Central LA Chamber of Commerce, Inc. (P O Box 992, Alex., LA 71309) to John L Van Mol, Jr., et al (6299 Old Baton Rouge Hwy., Alex., LA 71302) - 110.1 acres in Sec 55, 57, & 59, T3NR1W, et al, $160,500.00
 
D & J Investment of Cenla, LLC, James Greer et al (P O Box 1719, Tioga, LA 71477) to E P Capital, LLC (277 LaCroix Road, Pineville, LA 71360) - 1 acre in Sec 12, T4NR1W, et al, $650,000.00
 
People not Property:
 
Our two grandsons Jack and Noles Hart have been guest at our home since Saturday “a series of memorable moments.” My wife is in the top three lists for grandmothers of the world and number one in my book.
 
Robert Ratcliff is King  XXVII of Parlangua.
 
Steven Moret’s comments to CLEDA’s annual meeting with over 200 attendees February 4th 2013
 
 1.        Took reigns as state economic developer in 2008, beginning of recession
 2.        Louisiana entered recession later than other states
 3.        Only 6 states have experienced job increases since 2008, LA is one of them
 4.        Five years of consecutive population growth
 5.        Investment Capital in excess of 22 billion in 2012
 6.        Sasol Plant in Lake Charles will spend $16 Billion,
            largest plant expenditure in America
 7.        Fort Polk has invested $20 million in new school
 8.        Past 5 years zero new auto plants in America
 9.        Big industrial expansions with cheap natural gas
10.       On shoring big national trend Louisiana is poised to get more than their share
11.       Louisiana has lived too long in the shadow of Texas time to reap dividends for
            (1) hard work (2) preparation and (3) good fortune.
12.       England Air Park is a “Gem” to national industrial site developers
 
Construction Contracts:
 
LA DOTD to Guinn Construction, LLC - Valentine Lake Road Bridge project, $736,812.00
 
Rapides Parish School Board to Petron, LLC - J I Barron Elementary School Entrance Drive Improvements, Phase II, $93,820.00
 
Attachments:
 
One the last pages of the notes you will find Noles-Frye Realty two weeks activity sheet. This data gives you, the consumer a glance at 30% market share in MLS. You will find new listings, under contract (without price), closed, and price adjustments. This is a great quick glance at the market!
 
Lowes in Leesville was an interesting sale at $1,250,000 listed by Jack Hodges and Jimmy Redfearin. Listing agents Jack Hodges and Jimmy Redfearin did perfect job in handling multiple offers.
 
(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:
 
Business days from January 28th though February 1, 2013
 
(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:
 
41 closed transactions with volume of $5,071,433
 
(+1.25) Lot Sales:
 
To rank positive score need one sale the market gave us four
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Joshua J & Jem C Bordelon (863 Williams Lake Road, Pineville, LA 71360) - 1.09 acres in Sec 41, T4NR2E, $22,500.00
 
Althea M Vaughn (605 Claudes Rd., Colfax, LA 71417) to James D & Jodi N Wells (100 Floyd West Rd., Elmer, LA 71424) - 1.14 acres in Sec 19, T3NR3W, $15,000.00
 
Ballina Farms, Inc. (Box 12487, Alex., LA 71301) to Tariq S & Erum A Ahmed (6102 Coty Dr., Alex., LA 71303) - Lot 175, Tennyson Oaks Subd., Phase 7E, $80,000.00. Only 5 lots unsold
 
Marvin E Reed (89 Kastanek Road, Deville, LA 71328) to Ronald C & Melanie A Owens (52 Stokes Lane, Forest Hill, LA 71430) - 3.388 acres in Sec 10, T5NR3E, $40,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale market provided two
 
V & V Builders, LC (1223 MacArthur Dr., Alex., LA 71303) to Joseph Nelson, Jr. & Marilyn S Nelson (121 St. Andrews Dr., Alex., LA 71303) - Part of Lot 2, St. Andrews Links Estates, Phase I, $10.00 & OVC
 
Bernard's American Home Sales, Inc. (4400 Hwy. 28 East, Pineville, LA 71360) to Justin R & Holly M Borland (P O Box 2001, Tioga, LA 71477) - Lot 18, Buckeye Ridge Subd., Phase II (321 Buckeye Ridge Loop, Deville, LA 71328), $199,900.00
 
(+1.25) Lender Sales as Percent of Total Sales:
 
Rates positive score if lender sales are below 5% of total sales
 
Wells Fargo Bank to Joshua R & Danielle Nolen (357 Gary K St., Pineville, LA 71360) - Lots 14-16, Sharon Park Subd. (357 Gary K St., Pineville, LA 71360), $77,500.00 / $5,071,433 = 1.53%
 
Interest Rates:
 
30 year rate was 3.47% this week is 3.59%, the 15 year rate was 2.84% this week it is 2.91%, the 5/1 ARM was 2.81% now 2.84%.

Indices

 

Last

Last Week

YTD return %

DJIA

13860.58

13825.33

5.77%

NASDAQ

3142.13

3130.38

4.06%

S&P 500

1498.11

1494.82

5.04%

MSCI EAFE

1687.33

1664.41

5.20%

Russell 2000

902.09

900.19

6.21%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.16

0.10

30-year mortgage

3.42

3.87

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.587

1.575

Dollars per Euro

1.358

1.307

Japanese Yen per Dollar

91.330

76.290

Canadian Dollars per Dollar

0.997/td>

1.004

Mexican Peso per Dollar

12.709

13.025

 
Commodities

 

Last

1-year ago

Crude Oil

97.49

98.48

Gold

1662.65

1730.98

 
Bond Rates

 

Last

1-month ago

2-year treasury

0.27

0.26

10-year treasury

1.96

1.93

10-year municipal (TEY)

3.05

3.06

 
 
 
Housing Market Uptrend Expected Through 2014
Realtor Newsletter and WSJ 1-23-2013 page A-3
 
Summary: The housing market recovery should continue through the coming years, assuming there are no further limitations on the availability of mortgage credit or a “fiscal cliff,” according to forecast presentations at a residential...
 
WSJ 2012 “existing homes sales rose to their highest level in five years” article explains we appear to have hit bottom last year.
 
Lawrence Yun, chief economist of the National Association of REALTORS, said the housing market clearly turned around in 2012. "Existing-home sales, new-home sales and housing starts are all recording notable gains this year in contrast with suppressed activity in the previous four years, and all of the major home price measures are showing sustained increases," he said.
 
Yun sees no threatening signs for inflation in 2013, but projects it to be in the range of 4 to 6 percent by 2015. "The huge federal budget deficit is likely to push up borrowing costs and raise inflation well above 2 percent," he said. Predicting Inflation rates two years out can be tricky.
 
Rising rents, qualitative easing (the printing of money), federal spending outpacing revenue, and a national debt equal to roughly 10 percent of Gross Domestic Product are all raising inflationary pressures.
 
Mortgage interest rates are forecast to gradually rise and to average 4.0 percent next year, and 4.6 percent in 2014 from the inflationary pressure. My bet is interest rates will approach 6% by end of 2014
 
With rising demand and an ongoing decline in housing inventory, Yun expects meaningfully higher home prices. The national median existing-home price should rise 6.0 percent to $176,100 for all of 2012, and increase another 5.1 percent next year to $185,200; comparable gains are seen in 2014.
 
Existing-home sales this year are forecast to rise 9.0 percent to 4.64 million, followed by an 8.7 percent increase to 5.05 million in 2013; a total of about 5.3 million are seen in 2014. Wsj says highest in recent years was 5.04 in 2007 and lowest at the time was lowest since 1998. The journal does not agree that there will be a big increase with head winds on mortgage underwriting, too little cash saved by consumers, millions of mortgage delinquent, and many in foreclosure. Hard to have large increase in sales when inventory is so low 21.6% lower than year earlier.
 
New-home sales are expected to increase to 368,000 this year from a record low 301,000 in 2011, and grow strongly to 575,000 in 2013. Housing starts are forecast to rise to 776,000 in 2012 from 612,000 last year, and reach 1.13 million next year. Housing start numbers include multi-family
 
"The growth in new construction sounds very impressive, and it does mark a genuine recovery, but it must be kept in mind that the anticipated volume remains below long-term underlying demand," Yun said. "Unless building activity returns to normal levels in the next couple years, housing shortages could cause home prices to accelerate, and the movement of home prices will be closely tied to the level of housing starts."
 
"Home sales and construction activity depend on steady job growth, which we are seeing, but thus far we've only regained half of the jobs lost during the recession," Yun said.
 
Regardless, Yun said that four years from now there will be an even greater disparity in wealth distribution. "People who purchased homes at low prices in the past couple years, including many investors, can expect healthy growth in home equity over the next four years, while renters who were unable to get into the market will be in a weaker position because they are unable to accumulate wealth," he said. "Not only will renters miss out on the price gains, but they'll also face rents rising at faster rates."
 
Also speaking was Mark Vitner, managing director and senior economist at Wells Fargo, who said the fiscal cliff is the biggest situation that needs to be addressed. "Beyond concerns about the fiscal cliff, the economic improvement seems to be broadening," he said.
 
"Housing will strengthen in 2013 even if the economy weakens because there is a demand for more construction, and the demand for apartments is rising at a faster rate than the need for more single-family homes," Vitner said. "Unfortunately, apartment construction is focused on about 15 submarkets, so additions to supply will be uneven.
 
Even with declining market shares of foreclosures and short sales, Vitner said they will continue. "Distressed homes right now are like an after-Christmas sale most of the best stuff has been picked over, but make no mistake they'll be with us for a while."
 
Yun projects the market share of distressed sales will decline from about 25 percent in 2012 to 8 percent in 2014.
 
For more information, visit www.realtor.org
 
http://ris.mccid.com/article.php?rssItemId=http%3A%2F%2Frismedia.com%2F%3Fp%3D74621
 
 
 

NOLES-FRYE REALTY, INC
A Latter & Blum Company
ACTIVITY REPORT
JANUARY 8, 2013 thru JANUARY 21, 2013
NEW LISTINGS
 
4216 A MICHIELES / $1800 sq ft lease / ROD & PRISCILLA
4216 C MICHIELES / $1500 sq ft lease / ROD & PRISCILLA
WONDERLANE 8+/- acres / $300,000 / ROD & PRISCILLA
2041 NORTH MALL, .675 ac / $299,000 / ROD & PRISCILLA
4814 LEE STREET / $160,000 / ROD & PRISCILLA
2401 BROADWAY / $80,000 / ROD & PRISCILLA
1709 BUSH AVE / $80,000 / CARLA GUILLORY
4067 HUNTWICK / $201,000 / CARLA GUILLORY
967 PALMER CHAPEL / $105,000 / CARLA GUILLORY
5238 RUE MARIA / $239,000 / JOHNNY HESNI
1506 TUMA DRIVE / $99,900 / MICHAEL REED
5211 OLD BOYCE RD / $59,500 / FRAN MICHIELS
145 WILDWOOD / $169,500 / FRAN MICHIELS
503 HWY 1204 / $113,500 / DONNA ROLLINS
0 HWY 171 @ STANTON STREET / TBD / PAUL MAXWELL
117 GRAND LAKES BLVD / $249,900 / JAMIE LEMOINE
6202 WEST AARON /$289,000 / TULENA FRANCIS
2116 CUSTERS DRIVE / $129,000 / ROSE STEEPLETON
6429 TENNYSON OAKS / $385,000 / ROSE STEEPLETON
905 WINDERMERE BLVD /$449,000 / ROSE STEEPLETON
1410 PLANTERS CT / $95,000 / CLAIRE JACKSON
188 WOODWIND / $250,000 / MICHELLE LITTLEPAGE
109 SHADY CREST / $182,500 / MICHELLE LITTLEPAGE
813 LAKESHORE DRIVE / $170,000 / JOE BETTY & JIMMY
139 THORNTON COOK / $329,000 / MIKE DORMAN
3787 SOUTH LOOP / $215,000 / MARSHA MCGRAW
4044 HUNTWICK BLVD / $235,000 / DALE DAENEN
 
UNDER CONTRACT
1011 SHERRY LANE / Carl Hanchey-CB Leesville/ BRENDA MARTINEZ
105 IRIS CIRCLE / ARCHIE STEWART / Janet Rand-Whittle-Buelow Miller
1703 MAGNOLIA / SUSAN & BILL / SUSAN MATHEWS
5803 POOLE STREET / MARYANN YELM/ MARYANN YELM (one time showing)
4409 WALDEN DRIVE / CLAIRE JACKSON / CLAIRE JACKSON
103 IVY LANE / FRAN MICHIELS/FRAN MICHIELS
301 CROSS RIDGE AVE /Bill Leatherman-Keller Williams / FRAN MICHIELS
1616 COLLEGE / FRAN MICHIELS / Alicia Abels-CB
6647 LOST RIDGE / JOHNNY HESNI /Steven Seale-B Difulco
1410 PLANTERS CT / CLAIRE JACKSON / CLAIRE JACKSON
2511 DONAHUE FERRY / Roger Corley-Key Realty / TULENA FRANCIS
1507 EVARIST / TULENA FRANCIS / BILL ELLINGTON
5041 LAURA LANE / JAMIE LEMOINE / JAMIE LEMOINE (One Time Showing)
101 WEST RIDGE / FRAN MICHIELS / NORMA SOILEAU
458 HOOPER RD / MICHELLE LITTLEPAGE/Kayla Walker-BuelowMiller
1938 GLENDALE / Bobbye Nothnagel-ERA Sarver/PEEWEE MORROW
2680 BAYOU PINES / Jesse Lentz-ERA Sarver RE / AMBER MORROW
7052 MAIN STREET / S.F Delia-Leesville / AMBER MORROW
131 EAGLE POINT / Leila Pollard-Candice Skinner RE / AMBER MORROW
118 EAGLE POINT / AMBER MORROW / PEE WEE MORROW
BARBARA DRIVE,LOT 58 / Carl Hanchey-CB ELITE / AMBER MORROW
431 BELTZ RD / Vickie Karmales-ERA Sarver RE / AMBER MORROW
718 TERRA AVE / Muriel Wotton-Key / RAQUEL SOLIVEN
106 IRIS RD / Mary Stickell-Keller Williams / ROSE STEEPLETON
0 EAST RIVER RD, 12.76 acs / DONNA ROLLINS / DONNA ROLLINS
0 EAST RIVER RD,12.91 acs / DONNA ROLLINS/DONNA ROLLINS
363 WINDERMERE #306 /JOE BETTY & JIMMY / Leona Swanson – Crye-Leike
4027 HUNTWICK BLVD / Kristie Ward-BMiller / ROD & PRISCILLA
1004 SHERRY LANE / Carl Hanchey-CB ELITE/ BRENDA MARTINEZ
5253 RUE NOTRE DAME / JIMMY & JOE BETTY / David Beckham-Keller Williams
 
CLOSED
0 BALL LANE, 1.17 acre/ $5500 / MARYANN YELM/ ARCHIE STEWART
0 BALL LANE, 1 acre/ $5500 / MARYANN YELM/ ARCHIE STEWART
124 HEMBLING / $172,500 /CLAIRE JACKSON / MICHAEL REED
4317 HWY 1 / $19,500 / Sonya Moncrief-Keller Williams / TULENA FRANCIS
100 LEGACY POINTE / $225,000 / Prissy Reap-CB / ROSE STEEPLETON
2918 NEAL / $ 127,000 / CARLA GUILLORY / Joanne Deville Smith- Keller Williams
5273 HWY 501 / $310,000 / PATTI DEVILLE / PATTI DEVILLE
TENNYSON OAKS, LOT 168 B / $62,500 / ROD & PRISCILLA / Shawn Landreneau-The Realty Co
0 CLEAR CREEK, 20acs / $22,000 / WINSTON ROBERTS/WINSTON ROBERTS
107 SHADY CREST / $183,500 / MICHELLE LITTLEPAGE / Kelly Ducote-Premier
 
PRICE CHANGES
 
7541 HWY 71 SOUTH/ $235,000 TO $199,000 / ROD & PRISCILLA
0 HWY 28 WEST / $1,750,000 TO $1,550,000 / JACK HODGES
403 RIDGEWOOD / $183,900 TO $179,900 / PHYLLIS BUSSEY
4403 WENDOVER / $375,000 TO $369,999 / PHYLLIS BUSSEY
3113 CAROL COURT / $224,900 TO $217,450 / SUSAN & BILL
2301 ALBERT STREET / $126,900 TO $119,900 / BILL & SUSAN
2010 PLANTATION DRIVE / $99,500 TO $89,000 / MARSHA MCGRAW
12852 MILL POND/ $248,000 TO $225,000 / MICHELLE LITTLEPAGE
 
 
NOLES-FRYE REALTY, INC
A Latter & Blum Company
ACTIVITY REPORT
JANUARY 22, 2013 thru FEBRUARY 4, 2013
NEW LISTINGS
 
4132 WATERFORD/ $299,900 / ROSE STEEPLETON
510 WEST WAY / $299,500 / ROSE STEEPLETON
4600 PARLIAMENT, UNIT 202 / $77,900 / ROSE STEEPLETON
257 J.V COCO RD / $134,500 / PHYLLIS BUSSEY
1403 VANCE AVE / $15,000 / MICHAEL REED
3322 OLGA STREET / $149,000 / MICHAEL REED
1816 BRYN MAWR / $124,900 / MICHAEL REED
1412 6th STREET / $10,000 / TULENA FRANCIS & MICHAEL REED
62 BERTIE STREET / $20,000 / TULENA FRANCIS & MICHAEL REED
328 PARK PLACE / $240,000 / JOE BETTY & JIMMY
216 LINKS DRIVE, LOT 76 / $61,000 / JOE BETTY & JIMMY
245 LINKS DRIVE, LOT 47 / $60,000 / JOE BETTY & JIMMY
262 LINKS DRIE, LOT 82 / $66,000 / JOE BETTY & JIMMY
330 GRIFFITH / $594,000 / JIMMY & JOE BETTY
3510 PARLIAMENT / $1600 mo / JIMMY & JOE BETTY
1766 JACKSON / $1200 mo / JIMMY & JOE BETTY
PARDUE RD & CENLA DRIVE / $100,000 / JOHNNY HENSI
315 BOB FRAZIER / $50,000 / JOHNNY HESNI
386 HWY 167 / $127,500 / ROD & PRISCILLA
3818 SPENCER STREET / $13,500 / MARSHA MCGRAW
19 BAYOU OAK / $199,500 / FRAN MICHIELS
1012 ROBIN RUN / $385,000 / CARLA GUILLORY
119 TALL TIMBERS / $155,000 / DALE DAENEN
3774 SOUTHLOOP / $268,900 / BILL & SUSAN
5502 MILDRED AVE / $199,900 / BILL & SUSAN
3111 ELLIOTT / $149,950 / MARTHA BRADFORD
624 HOOPER RD / $163,000 / JANICE BERNARD & SUSAN MCKENZIE
7413 HWY 28 WEST / $1000mo / PAUL MAXWELL
 
UNDER CONTRACT
1902 POLK STREET / MARTHA BRADFORD / Elaine Setliff-La Lagniappe
3871 HWY 394 / AMBER MORROW / Tonya Farris-CB Elite
2210 MUSTANG STREET / Vickie Karamales-ERA Sarver / BRENDA MARTINEZ
2405 BROADWAY / ROD & PRISCILLA / TULENA FRANCIS
257 J V COCO / PHYLLIS BUSSEY / TULENA FRANCIS
6317 AUDUBON OAKS / ROSE STEEPLETON / Janet Whittle-B Miller
3100 MARYE / JOE BETTY & JIMMY / JOE BETTY & JIMMY
1756 ELLIOTT / Steven Snow- Landmark / JIMMY & JOE BETTY
1620 FULTON/FRAN MICHIELS/Trudy Ong-C21
RICHFIELD,LOT 31 / SUSAN & BILL / SUSAN MATHEWS
PARDUE RD &CENLA DR / JOHNNY HESNI /Randy Browning-The Realty Co
1507 EVARIST / TULENA FRANCIS / MARSHA MCGRAW
1021 10th STREET / DONNA ROLLINS / DONNA ROLLINS
0 SHERWOOD FOREST / PAUL MAXWELL & MIKE DORMAN / MIKE DORMAN
7451 HWY 71 SOUTH / ROD&PRISCILLA / ROD & PRISCILLA
 
CLOSED
2337 MYRTLE/ $117,500 / Doug Rogers-C21M / MICHAEL REED
3202 MILITARY HWY UNIT F / $122,000 / ROSE STEEPLETON / ROSE STEEPLETON
4068 HUNTWICK / $217,900 / ROSE STEEPLETON/ Jennifer Vercher-Image One
TENNYSON OAKS,LOT 175 /$80,000/ ROD&PRISCILLA / ROSE STEEPLETON
1517 6th STREET / $9,343 / JOHNNY HESNI / Randy Browning-Realty Co
75 RAGAN / $140,000 /SUSAN & BILL / ARCHIE STEWART
1703 MAGNOLIA / $112,000 / SUSAN & BILL / SUSAN MATHEWS
1011 SHERRY LANE / $191,000 / Carl Hanchey-CB Elite/ BRENDA MARTINEZ
1004 SHERRY LANE / $179,900 /Carl Hanchey-CB Elite / BRENDA MARTINEZ
1833 WOODLAWN / $128,000 / AMBER MORROW/AMBER MORROW
5255 RUE MARIA / $225,000 / Kelly Ducote-Premier /MARTHA BRADFORD
717 HIAWATHA TRAIL / $175,000 / MARTHA BRADFORD / Karen Faulk-Southern Realty
4703 WARWICK / $320,000/MARTHA BRADFORD / Sharon Grice-Crye Leike Ranson
63 RAGAN / Roger Corley-Key / DONNA ROLLINS
2419 JACKSON STREET/ CARLA GUILLORY/ Margaret Hickman-Keller Williams
2511 DONAHUE FERRY / $193,000 / Roger Corley-Key / TULENA FRANCIS
1111 BOONE/ $1,250,000 / JIMMY REDFEARIN & JACK HODGES/ GREGG
THOMPSON
 
 
PRICE CHANGES
400 HICKORY HILL RD / $342,900 TO $325,900 / ROSE STEEPLETON
6305 MORGAN OAKS / $504,900 TO $499,900 / ROSE STEEPLETON
3451 OLD MARKSVILLE HWY / $274,000 TO $264,900 / ROSE STEEPLETON
2726 HILL STREET / $259,900 TO $239,900 / ROSE STEEPLETON
1574 HWY 115/$110,000 TO $99,900 / SUSAN & BILL
1574 HWY 115 / $99,900 TO $75,000 / SUSAN & BILL
6303 MANOR DRIVE/ $139,900 TO $132,500 / BILL & SUSAN
1777 JACKSON STREET / $375,000 TO $350,000 / JAMIE LEMOINE
902 SOUTH 10th STREET / $190,000TO $169,000 / MARSHA MCGRAW
5610 EAST CIRCLE DRIVE / $139,900 TO $136,000 / MARSHA MCGRAW
2536 HWY 486 / $189,900 TO $180,000 / MARSHA MCGRAW
6334 MANOR DRIVE / $129,900 TO $124,750 / MARSHA MCGRAW
2148 WETTERMARK / $63,000 TO $53,750 / JOHNNY HESNI
2420 COULEE CROSSING / $249,500 TO $243,000 / FRAN MICHIELS
 

 
 

Rod's Notes For Wednesday 01/30/13


Rod’s Radio Show Notes January 30th 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:
 
Bonner's Properties of Cenla, LLC (2600 Monroe Hwy., Pineville, LA 71360) to Redmon's Automotive Clinic, LLC (2600 Monroe Hwy., Pineville, LA 71360) - 1.91 acres in Sec 1, T4NR1W, $675,000.00
 
The Central LA Chamber of Commerce, Inc. (P O Box 992, Alex., LA 71309) to John L Van Mol, Jr., et al (6299 Old Baton Rouge Hwy., Alex., LA 71302) - 110.1 acres in Sec 55, 57, & 59, T3NR1W, et al, $160,500.00
 
Frank J & Helen M Candiloro (230 Jimmy Brown Road, Boyce, LA 71409) to The England Economic and Industrial Development District - 2.005 acres in Sec 11, T4NR2W, $55,735.00
 
Shreveport, Louisiana #2 Bible minded City in the country: great for Shreveport but it does make you wonder how these various ratings are established. Noles and Madison need to find a non-published rating and decide which areas rank in top 10
 
Travel Tip: Unless you are going to the super Bowl avoid downtown New Orleans this week end. My bet is that broadcast media will treat New Orleans very well
 
People not Property:
 
Harry Silver update following health scare.
 
Canterbury House thanks for hosting our sales meeting last week and thanks for being a good neighbor with a great mission.
 
Priscilla Rose Perry: Keep your eyes on this young lady my bet is she will be local super star within a few years.
 
Wally Smith math teacher at Menard gave up career many years back to teach math in high school. Good Town talk story about his class in Wednesday’s town talk.
 
Drive by reporter for Matt O. Ball neighborhood meeting with members from State Historical certification group. Meeting was Tuesday night 6:00 pm if one of our listeners attended give us a call for an update.
 
John Tumbasco 17 from Bolton High School was awarded Platinum Level Ready Certificate. This reminds me to tell our listeners that I myself was a gifted student.
 
Email from partner in one of our land deals about Marine Shale; this is the website I mentioned to you last week.  It gives a good summary of the Tuscaloosa Shale.  Now that technology has advanced to make drilling at 10,000+ feet profitable, it seems like it is only a matter of time before they start proving these wells in Rapides Parish.  http://www.tuscaloosa-marine-shale.com/
 
Construction Contracts:
 
City of Pineville to Don M Barron Contractors, Inc. - Installation of 6" water mains along Hillcrest Road, Fairbrook St., Wood Street, Effie Street, & Holoman St., Pineville, LA, $287,830.00
 
Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to M D Descant, Inc. (P O Box 329, Bunkie, LA 71322) - Additions to J I Barron Elementary, $7,019,000.00.
 
When did McDonalds stop updating number of burgers sold? Answer 1994 count was at 99 billion. Has anyone tried the cheddar, bacon and onions burger they look great in the commercials.
 
Dish owns Blockbuster and plans to shut down 300 more stores closings will result in 3,000 layoffs or 40% reduction in employees. 500 Blockbuster stores will remain open in 2005 the chain had 5,700 stores opened. Can you identify a closed Blockbuster store give us a call. Dish inherited 1,700 stores when is bought Blockbuster out of bankruptcy in 2011 for $226 million. I remember dish executive saying “the price was so cheap it didn’t pose a significant risk.”
 
Flowers Foods Inc reached a deal with Hostess earlier this year to acquire bread assets, including Wonder Bread and Nature’s pride for $390 million. Pabst owner and Apollo are stalking horse bid (explain to listeners). Hostess will be selling off 30 brands and has 36 plants. Sure hope one in Alexandria is sold and back in production soon. $2.5 billion in sales and company declared bankruptcy to bad they were not a big bank or automobile manufacture.
 
(+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 January 21st though January 25th, 2013
 
(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:
 
First three weeks in 2013 total transactions 73 sales or less than 25 per week. Last week there were 42 sales with volume of $4,008,893 for positive score this week. Through the 21st of January there were 115 sales and 300 Realtors.
 
(+1.25) Lot Sales:
 
To rank positive score need one sale the market gave us a single lot sale in the Lake District for positive score.
 
Leon M & Pamela C Rubin (6704 Tennyson Oaks Lane, Alex., LA 71301) to Stephen D Downs (P O Box 14438, Alex., LA 71315) - Lot 81, The Lake District, Phase 1 (4701 Sample Place, Alex., LA 71303), $52,000.00
 
(-1.25) New Home Sales:
 
Looking for one new home sale market provided zero new home sales.
 
(+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 volume of only $76,798 / $4,000,008 = 1.91%
 
Sec. of HUD to Deana M Shelton (1517 6th Ave., Glenmora, LA 71433) - Lots 11-14, Sq 5, East of 12th St., Glenmora, LA, $9,343.00
 
J P Morgan Chase Bank to Federal National Mtg. Assoc. (2001 Bryan Tower, Suite 1200, Dallas, TX 75201) - Lot 5, Sq 8, Hickman Hooe Addn. (16 Louisiana Ave., Alex., LA 71301), $15,955.76
 
Sec. of HUD (2026 S Wall St., Joplin, MO 64804) to Lawrence Real Estate Group, LLC (1320 McNutt Dr., Alex., LA 71301) - Part of Lots 6 & 7, Blk 5, Thornton Place (1739 Thornton Court, Alex., LA 71301), $51,500.00
 
Interest Rates:
 
30 year rate was 3.47% this week is 3.59%, the 15 year rate was 2.84% this week it is 2.91%, the 5/1 ARM was 2.81% 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. 
 

Priscilla & Rod Team “ PR Team”
 
Rod Noles has a 40 year history of success with clients
across Louisiana. Priscilla Rose Perry has quickly proven
herself as an excellent, client-oriented agent.
 
Rod Noles is President of Rod Noles Property
Management, the largest fee-based management
company in Central Louisiana. He is also an active agent
with Noles-Frye Realty, part of the Latter & Blum family
of companies, which also includes CJ Brown and Van
Eaton & Romero.
 
With geographic reach and years of experience, Rod
can handle your real estate needs across town or across
Louisiana. Before the next real estate move, call Priscilla
and Rod. They’re the team you want in your corner.

 
Housing Market Uptrend Expected Through 2014:
 
Realtor newsletter and wsj 1-23-2013 page A-3
 
Summary:

The housing market recovery should continue through the coming years, assuming there are no further limitations on the availability of mortgage credit or a “fiscal cliff,” according to forecast presentations at a residential...
 
WSJ 2012 “existing homes sales rose to their highest level in five years” article explains we appear to have hit bottom last year.
 
Lawrence Yun, chief economist of the National Association of REALTORS, said the housing market clearly turned around in 2012. "Existing-home sales, new-home sales and housing starts are all recording notable gains this year in contrast with suppressed activity in the previous four years, and all of the major home price measures are showing sustained increases," he said.
 
Yun sees no threatening signs for inflation in 2013, but projects it to be in the range of 4 to 6 percent by 2015. "The huge federal budget deficit is likely to push up borrowing costs and raise inflation well above 2 percent," he said. Predicting Inflation rates two years out can be tricky.
 
Rising rents, qualitative easing (the printing of money), federal spending outpacing revenue, and a national debt equal to roughly 10 percent of Gross Domestic Product are all raising inflationary pressures.
 
Mortgage interest rates are forecast to gradually rise and to average 4.0 percent next year, and 4.6 percent in 2014 from the inflationary pressure. My bet is interest rates will approach 6% by end of 2014
 
With rising demand and an ongoing decline in housing inventory, Yun expects meaningfully higher home prices. The national median existing-home price should rise 6.0 percent to $176,100 for all of 2012, and increase another 5.1 percent next year to $185,200; comparable gains are seen in 2014.
 
Existing-home sales this year are forecast to rise 9.0 percent to 4.64 million, followed by an 8.7 percent increase to 5.05 million in 2013; a total of about 5.3 million are seen in 2014. Wsj says highest in recent years was 5.04 in 2007 and lowest at the time was lowest since 1998. The journal does not agree that there will be a big increase with head winds on mortgage underwriting, too little cash saved by consumers, millions of mortgage delinquent, and many in foreclosure. Hard to have large increase in sales when inventory is so low 21.6% lower than year earlier.
 
New-home sales are expected to increase to 368,000 this year from a record low 301,000 in 2011, and grow strongly to 575,000 in 2013. Housing starts are forecast to rise to 776,000 in 2012 from 612,000 last year, and reach 1.13 million next year. Housing start numbers include multi-family
 
"The growth in new construction sounds very impressive, and it does mark a genuine recovery, but it must be kept in mind that the anticipated volume remains below long-term underlying demand," Yun said. "Unless building activity returns to normal levels in the next couple years, housing shortages could cause home prices to accelerate, and the movement of home prices will be closely tied to the level of housing starts."
 
"Home sales and construction activity depend on steady job growth, which we are seeing, but thus far we've only regained half of the jobs lost during the recession," Yun said.
 
Yun projects growth in Gross Domestic Product to be 2.1 percent this year and 2.5 percent in 2013. The unemployment rate is showing slow, steady progress and is expected to decline to about 7.6 percent around the end of 2013. "Of course these projections assume Congress will largely avoid the 'fiscal cliff' scenario," Yun said. "While we're hopeful that something can be accomplished, the alternative would be a likely recession, so automatic spending cuts and tax increases need to be addressed quickly."
 
Regardless, Yun said that four years from now there will be an even greater disparity in wealth distribution. "People who purchased homes at low prices in the past couple years, including many investors, can expect healthy growth in home equity over the next four years, while renters who were unable to get into the market will be in a weaker position because they are unable to accumulate wealth," he said. "Not only will renters miss out on the price gains, but they'll also face rents rising at faster rates."
 
Also speaking was Mark Vitner, managing director and senior economist at Wells Fargo, who said the fiscal cliff is the biggest situation that needs to be addressed. "Beyond concerns about the fiscal cliff, the economic improvement seems to be broadening," he said.
 
"Housing will strengthen in 2013 even if the economy weakens because there is a demand for more construction, and the demand for apartments is rising at a faster rate than the need for more single-family homes," Vitner said. "Unfortunately, apartment construction is focused on about 15 submarkets, so additions to supply will be uneven.
 
Even with declining market shares of foreclosures and short sales, Vitner said they will continue. "Distressed homes right now are like an after-Christmas sale most of the best stuff has been picked over, but make no mistake they'll be with us for a while."
 
Yun projects the market share of distressed sales will decline from about 25 percent in 2012 to 8 percent in 2014.
 
For more information, visit www.realtor.orghttp://ris.mccid.com/article.php?rssItemId=http%3A%2F%2Frismedia.com%2F%3Fp%3D74621
 
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.
 
 

 

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