Rod's Notes Archives for 2013-04

Rod's Notes For Wednesday 04/24/13


Rod Noles Property Management, Inc.

 

Radio Show Notes April 24th 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

 
I asked Jim Clinton EO with CLEDA to join us on the show:
 
Next week LSUA chancellor Dr. Coreil (sounds like core-ell)
 
Every Deal has a Tale / Tail:
 
Revenue Properties Westgate, LP (2542 Williams Blvd., Kenner, LA 70062) to Ratcliff Development, LLC (P O Box 7522, Alex., LA 71306) - Westgate Dollar General Development, 211 MacArthur Dr., Alex., LA 71303, $1,200,848.00. Might this be fee development in out parcel at Westgate?
 
Ward C Hooter, II, MD (404 Hillcrest Dr., Alex., LA 71301) to Pineville Timberland, LLC not sure who this is but their registered agent is John Munstermn (1703 Shirley Park Place, Alex., LA 71301) - 120 acres in Sec 42, T5NR1E, $500,000.00
 
Quality Builders, Inc. (306 Welwyn Way, Alex., LA 71303) to EP Capital, LLC Eric Petroskey same folks who purchased $650,000 deal next to Icee building on highway 167(277 LaCroix Road, Pineville, LA 71360) - Lot 1, Bordelon Commercial Development in Sec 16 & 17, T4NR1W, $750,000.00
 
Clsoed block Buster on Jackson street if any of our drive by reporters knows what the asking price is call us. Priscilla talked with staff person for South Carolina company that purchased 28 closed Blockbuster owned stores. Share site selection story for Blockbuster store with our audience.
 
People not Property: 
 
Malcolm Young surprise party yesterday at Mansion to celebrate 25 years as captain at the helm of our 9,000 strong state Realtor group. Steve Brown national president for NRA attended along with several people from our local association. Matt Ritchie, Brenda Lutgenharm, Elaine Setliff, Paige Walker, Cornelius Coleman, Ronda Reap Curiel who shared with Latter & Blum Commercial manager that she has IP plant listed. 
 
Maurice and Ron Hebert last week when I discussed 24 unit Jones apartments a Jackson and George’s lane I did not know and failed to mention that Maurice and Ron were double bubble agents on this transaction. I have identified this as best real estate investment of 1Q13.
 
Jim Moody invited us to attend EAA fly in at Buhlow Lake. My first time to attend neat homemade air craft and very interesting group of talented pilots. 
 
Randy Gilchrist sale last week over $2,000,000 sale put the Wells Wood plantation back together the upper and lower Wells Wood is now practically one plantation and in the stewardship of one fine land owner. Thanks Randy
 
Randy caused me to focus on the blessings this community has for high risk, community conscious land owners that are active in preserving our heritage and building our future the list includes but is not limited to:
 
Murphy Family at Inglewood,
 
Martin Family and their timber holdings.
 
Crest Industries and tree preservation program,
 
Davis Family with Lake District,
 
Mike Jenkins with Bentley and Lloyds Hall,
 
Greg Trotter and his third street project, new apartments with off street parking coming soon.
 
Weil Company,
 
V&V Construction
 
(+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 April 16th through April 27th
 
(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:
 
Great five days of business last Tuesday April 16th through this Monday 22nd 59 transactions and $8,809,171 largest sale was $750,000
 
(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market provided five sales for positive score.
 
Ballina Farms, Inc. (14876 Hwy. 8, Colfax, LA 71417) to Brandon B & Rachel M Thompson (1916 Mohon St., Alex., LA 71301) - Lot 215, Tennyson Oaks Subd., Phase 10, $58,500.00. Only 3 lots for sale in 215 lot subdivision.
 
Price Right Properties, LLC (4400 Hwy. 28 East, Pineville, LA 71360) to Jaad Builders, LLC (4400 Hwy. 28 East, Pineville, LA 71360) - Lot 3, Buckeye Ridge Subd., Phase II, $29,900.00
 
Randall J & Florence L Roy (235 Timberlake Dr., Woodworth, LA 71485) to Robert L & Keely D Litton (215 Timberlake Dr., Woodworth, LA 71485) - Lot 9, Timberlake Subd., Unit 1 (315 Timber Ridge Dr., Woodworth, LA 71485), $60,000.00. My retired CPA is going to build a new house.
 
The Lake District, LLC (P O Box 12487, Alex., LA 71315) to Richard G & Nancy W Cotton (4511 Willowick Blvd., Alex., LA 71301) - Lot 21, The Lake District, Phase 1, $80,000.00
 
Van Mol & Sons, LLC (222 Hwy. 456, Lecompte, LA 71346) to David J Van Mol (222 Hwy. 456, Lecompte, LA 71346) - Lot 32, Ocho Rios Subd., Phase I-B, $29,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week the market gave us
 
Brittain & White Construction, LLC (5512 Jackson St., Alex., LA 71303) to Robert F & Pamela S Broadwell (4511 Waverly Blvd., Alex., LA 71303) - Unit 524 H, Phase L, Building 12, Cypress Point II Condominiums, $167,500.00. This development is nearing 80% completion.
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Arthur W & Cynthia G Leonard (1812 Clover Lane, Alex., LA 71301) - Lot 105, St., Andrews Links Estates, Phase III (257 St. Andrews Dr., Alex., LA 71303), $288,000.00
 
Brittain & White Construction, LLC (5521 Jackson St. Ext., Alex., LA 71303) to Ellen L Tighe (10625 35th St. West, Milan, IL 61264) - Unit 524B, Cypress Point II at Lake District Condominiums (524 B Ansley Blvd., Alex., LA 71303), $164,500.00
 
(-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 six sales with volume of $672,000 / $8,809,171 = 7.63% for negative score
 
Sabine State Bank (P O Box 670, Many, LA 71449) to Betty F Salley (1409 College Dr., Pineville, LA 71360) - Lot 8, Sq 3, Grace Subd. (205 Milton, Pineville, LA 71360), $21,000.00
 
LPP Mtg., Ltd. (7195 Dallas Parkway, Plano, TX 75024) to Mark Gravel Properties, LLC (P O Box 5066, Alex., LA 71307) - W/2 of Lot 7, Blk 55, Kilpatrick Addn. (2028 White St., Alex., LA 71301), $78,000.00
 
The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to David M & Danielle P Williams (2147 Boyce St., Alex., LA 71301) - 4.279 acres in Sec 50, T4NR3W, $330,000.00
 
Stone Financing, LLC (16260 North 71st St., Scottsdale, AZ 85254) to Christopher S & Sarah E Love (210 East Fairview St., Shreveport, LA 71104) - .33 acres in Sec 10, T4NR1e (1015 North Sunny Hill Dr., Pineville, L A71360), $134,000.00
 
Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to Marson Properties, LLC (1749 Watson Road, Pineville, LA 71360) - Lot 9, Heritage II Subd., $109,500.00
 
Interest Rates:
 
Third week of slight increase: 30 year rate was 3.54% this week is 3.47%, the 15 year rate was 2.78% this week it is 2.71%,
 
 

 
 

Rod's Notes For Wednesday 04/17/13


 Radio Show Notes April 17th 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

 
I Asked Jon Grafton to call in regarding public notice for England Authority expanding their subdivision area. Another Rumor Grafton has stopped hooters from coming to this market.
 

1Q2013 Review

 Every Deal has a Tale / Tail:
 
January
 
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.
 
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
 
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
 
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
 
February
 
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 
 
Block Buster 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.
 
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
 
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.
 
March
 
Ballina Farms, Inc. (4615 Parliament Dr., Suite101, Alexandria, LA 71301) to Sundrop Fuels Louisiana, LLC (2410 Trace Center Ave., Suite A, Longmont, CO 80503) - 1,213.626 acres in Sec 2-10, 13-15, & 75, T4NR2W & Sec 2-9, T5NR2W, $4,752,000.00
 
Clyde H & Rae L Creed (13919 Waterville Way, Houston, TX 77015) to Crest Properties, LLC (P O Box 6115, Alex., LA 71307) - 2.655 acres in Sec 25, T5NR1W, et al, $300,000.00. I believe this is the corner of Esler Field and 28 East but not certain. Near industrial Park in Pineville
 
Luther & Jessie Sutton Trust (7405 Esler Field Road, Pineville, LA 71360) to Jeffkris Investments, LLC (35 G Ryder Road, Deville, LA 71328) - 21.63 acres in Sec 26, T5NR1E, et al, $800,000.00. Jeffkris Investments, LLC (35 G Ryder Road, Deville, LA 71328) to The Union Bank (P O Box 39, Marksville, LA 71351) - 21.63 acres in Sec 26, T5NR1E, et al (7401/7405 Esler Field Road, Pineville, LA 71360), $805,262.41
 
Grimes Investments, LLC (136 Hidden Path, Pineville, LA 71360) to Texas Avenue Partners, LLC (5911 Bayou Robert Dr., Alex., LA 71303) - 2.77 acres in Sec 32 & 33, T4NR1W, $386,250.00. Matt Ritchie has sales side; Maurice Hebert had the list side. It certainly appears that Spirits will soon own their restaurant location just down the street from location they lease from James Drummond.
 
Absolute auction for 19 condos downtown on Cane River in Natchitoches April 27th
 
Town Hall meeting in Pineville this month to discuss alcohol by the drink in local restaurants.
 
Estate of L D Kellogg, Jr. & Joann W Kellogg (4314 Willowick Blvd., Alex., LA 71303) to Ballina Farms, Inc. (4615 Parliament Dr., Suite 101, Alexandria, LA 71303) - Tract fronting 50' on Parliament Dr.
 
Every Deal has a Tail / Tale:
 
MacArthur Village
 
Closed health club
 
Former Coldweld Banker office building being demolished for PetCo not to be confused with PetSmart moving but new pet store.
 
 Darryl D Andrews, Sr. & June P Andrews (6525 Tennyson Oaks Lane, Alex., LA 71301) to Visual Concepts and Designs, LLC (1105 Texas Ave., Alex., LA 71301) - Part of Lots 7 & 8, Mattie O Ball Addn., $159,000.00
 
Pollard Properties, Inc. (1103 High School Dr., Deridder, LA 70634) to Cooke Holdings, LLC (2030 North Mall Dr., Alex., LA 71301) - Lot 6B of resubdivision of Lots 5 & 6, Blk 7, Sterkx-Deming Subd., $875,000.00 Loan Cooke Holdings, LLC (2030 N Mall Dr., Alex., LA 71301) to Sabine State Bank (P O Box 670, Many, LA 71449) - Lot 6B of resubdivision of Lots 5 & 6, Blk 7, Sterkx-Deming Subd. (2020 N Mall Dr., Alex., LA 71301), $826,972.96
 
Jones Investments, Inc. (P O Box 11735, Alex., LA 71315) to George's Lane Property, LLC (3028 George's Lane, Alex., LA 71301) - Lots 1-6 of the revision of Lots 1, 2, 3, 8, 9, 10, & 11, & 12, R J Jones Subd., et al, $1,300,000.00 Loan; George's Lane Property, LLC (3028 Georges Lane, Alex., LA 71301) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Lots 1-6 of the revision of Lots 1, 2, 3, 8, 9, 10, & 11, & 12, R J Jones Subd., et al, $1,000,000.00
 
People not Property:  Bizzie awards by Chaber of Commerce
 
Best Overall Business                     Roy O Martin
Best Small Business                        Terra homes
Best Medium Business                   Hayes Manufacturing
Best Large Business                        Afco Industries
Best Non Profit                                Rapides Foundation
Best Curb Appeal                            Alexandria International Air Port
Best Interior Design                        Meyer, Meyer, Hixson & LaCroix
Best Website                                    YWCA
Best Logo                                          Cabrini Hospital
Best Marketing Campaign             Rapides Regional Hospital
Best Green Company                     Inglewood
 
(+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. 

(+3.75) Legal Recorder Data:
Business days from time period of April 9th through April 15th
 
(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:
32 transactions with volume of $5,635,886 negative rating for the week
 
Lot Sales:
To rank positive score need one sale per week the market provided
 
ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Jamm Family Properties, LLC (P O Box 1123, Glenmora, LA 71433) - Lot 66, Pringle Subd., Ext. 2, 4th filing (1108 Beverly Lane, Glenmora, LA 71433), $50,000.00
 
(+1.25) New Home Sales:
Looking for one new home sale per week the market gave us three sales with two condo sales for positive rating
 
Weilland Enterprises, LLC (P O Box 1548,Alex., LA 71309) to Weil Company, Inc. (P O Box 1548, Alex., LA 71309) - Lot 3-C, Village at Versailles Townhouses, Phase II-A (705 Toulouse St., Alex., LA 71303), $169,000.00
 
Brittain White Construction, LLC (5521 Jackson St. Ext., Alex., LA 71303) to Kathy D Wiggins (208 White Oak Dr., Pineville, LA 71360) - Unit 524A, Cypress Point II at Lake District Condominiums (524 A Ansley Blvd., Alex., LA 71303), $177,500.00
 
Moore Residential Builders, LLC (1904 Hartsfield Ave., Pineville, LA 71360) to Kimberly Davis (203 Nickolas Path, Pineville, LA 71360) - Lot 17, Nicole's Place Subd., Phase II, $235,000.00
 
(+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 3 sales with volume of $240,500 / $5,635,886 = 4.265 for positive rating for the week
 
J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Melba S Phillips (220 Stovell Rd., Alex., LA 71301) - Lot 11, Blk 1, KPDR Heights Subd. (1812 Henry St., Alex., LA 71303), $11,500.00
 
Wells Fargo Bank (7360 S Kyrene Road, Tempe, AZ 85281) to Lawrence Real Estate Group, LLC (1320 McNutt Dr., Alex., LA 71301) - Lot 10, Sq 1, Colonial Heights Subd. (119 Colonial Dr., Alex., LA), $19,000.00
 
LPP Mtg. Ltd. (7195 Dallas Parkway, Plano, TX 75024) to Gregory & Vernice Y Jackson (1170 Belgard Bend Road, Boyce, LA 71409) - Lot 5, Woodlawn Estates, et al (1170 Belgard Bend, Boyce, LA 71409), $210,000.00
 
Interest Rates:
Third week of slight decrease: 30 year rate was 3.56% this week is 3.51%, the 15 year rate was 2.78% this week it is 2.77%,
 
Indices
Last                 Last Week       YTD                Return %
DJIA                 14865.14         14606.11         13.44%
NASDAQ          3300.16           3224.98           9.29%
S&P 500           1593.37           1559.98           11.72%
MSCI EAFE       1724.04           1659.21           7.48%
Russell 2000    947.05             925.66             11.50%
 
Consumer Money Rates
                           Last     1-year ago
Prime Rate              3.25     3.25
Fed Funds               0.16     0.08
30-year mortgage    3.54     3.88
 
Currencies
                                              Last     1-year ago
Dollars per British Pound        1.540     1.591
Dollars per Euro                      1.312     1.312
Japanese Yen per Dollar         99.610    80.980
Canadian Dollars per Dollar    1.010      1.003
Mexican Peso per Dollar         12.066     13.141
 
Commodities
                        Last               1-year ago
Crude Oil         93.51              102.70
Gold                 1566.05           1659.25
 
Bond Rates
                                  Last     1-month ago
2-year treasury           0.23     0.25
10-year treasury         1.73     2.00
10-year municipal       3.06     3.26
 

 

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Rod's Notes Wednesday 04/10/13


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

 

Lead story: Interest rates

 

Interest rates, sight decrease from last week:  30 year rate was 3.218% this week is 2.875%, the 15 year rate was 2.547% this week it is 2.250%, the 5/1 ARM was 2.78% now 2.72%. 

 

Again I do not agree with Town Talk editorial: Loan interest rates, and more restrictive under writing is hurting real estate industry and has limited bank’s willingness and ability to make real estate loans. Comment from young investor at Board meeting I am borrowing as much as I can at 3% interest rates.

 

Question for the week: Can a condo association amend restrictions without unanimous consent to prohibit a home owner from leasing their condo. Provide some background and ask listeners to weigh in on added value to development, fairness, and will such rule affect values for re-sale.

  

Every Deal has a Tale / Tail:

 

567.34, LLC Michael Jenkins (201 Johnston St., Suite 101, Alex., LA 71301) to Wellswood Farms, LLC Randy Gilchrist (1500 Hwy. 456, Lecompte, LA 71346) - Tract in Sec 4, T1NR1E, et al, $2,375,000.00. acreage tract near highway 71 South and La. highway 26

 

D & J Investments of Cenla, LLC (P O Box 1719, Tioga, LA 71477) to JHRA Properties, LLC Richard Anderson (2903 Chicago St., Alex., LA 71302) - Tract in Parkway Subd., $400,000.00.

 

Two sales highlight 3 of “bakers and shakers” Mike Jenkins, Randy Gilchrist, and James Greer 3 of about 25 larger investors that really make a difference in what our landscape looks like. For a small community we have some big players that manage their risk well and are community leaders and good stewards of talents and opportunities. Definition of “big shot” from Mike Shelton: “ Little shot that kept shooting.” Look for next week’s report for 1Q2013 where we will high light additional players who make Central La a better place to live. I would have drafted the report this week but my marketing partner was on her honey moon.

 

Attachments:  bi-monthly report of activity at Noles-Frye Realty Inc. This is an excellent snap shot of MLS activity with 25% market share one can obtain a nice glimpse of listings, under contract, closed, and price adjustments.

 

$7,278,000 total listing volume

$2,855,000 closed transaction with 23 sales 13 co-op deals with other companies 56% of closed deals with other agents.

$10,133,300 was total activity at one office for 2 week period. This is a valuable 2 page data sheets.

 

Good time to explain how MLS benefits the consumer and debate of where MLS data goes. Ask how consumers feel about wide broadcast for exposing property for sale with electronic media. Question should MLS limit or push it wide open.

 

Best new commercial lot listed for the month: $859,900 Masonic Drive acreage formerly Heritage Manor Nursing home across from Cabrini Hospital 2.87 acres $6.87 psf listed by Rose Steepleton Top agent at Noles-Frye for past 10 years and top agent for March with Noles-Frye.

 

Best Industrial building listed for the month: $750,000 Steel Manufacturing plant 5211 Morgan Street 38,640 sf plant on 2.735 acres on 2.735 acres with rail. Listed by Dale Daenen CCIM

 

Best available lease property for the month: 3000 South MacArthur former retail tire and earlier tractor sales building 23,300 sf rental rate $52,800 per year or $2.25 psf listed by Paul Maxwell CCIM

 

$2,200,000 most expense home listed for the year: Listed by Marsha McGraw 9,000 sf home on Cane River with 6.2 acres of land fronting Cane River

 

England Economic & Industrial Development District: no sales, construction contracts, or grants for the week.

 

People not property: 

 

Brandon Calhoun from One Life was the preacher that married Priscilla Perry this week end and Brandon shared with me that 100% of the couples he has married are still happily married. Does anyone out there know of a preacher, priest, or justice of the peace that has a 100% record like Brandon Calhoun?

 

Rod and Priscilla top agents for 1Q13 at Noles-Frye Realty

 

Matt Ritchie 2013 state President of CCIM organization and 2014 President of La. Realtors association, and best dressed Realtor in America.

 

Tom Hardin, his family and friends celebrate Tom’s 85th birthday. His daughters are investor partners in Washington Square and Melissa was in town this week to tour tornado rehab at Washington Square. Very sharp young lady made some really insightful comments during property tour.

 

Construction Contracts:

 

Town of Woodworth, LA to Gilchrist Construction Co., LLC - Town Wide Street Improvements, $1,017,961.00

 

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Mid Western Commercial Roofers, Inc. (P O Box 91147, Mobile, AL 91147) - Reroofing the existing ASH School Building, $808,710.00

  

(+1.25 out of possible 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 time period of April 2nd though April 8th most recent five business days for our local market.

(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 deals total volume of $5,835,900 without $2,375,000 adjusted volume was $3,460,900. Only 34 sales for negative score this week.

 

(+1.25) Lot sales: To rank positive score need one sale per week the market provided one for positive score.

 

Weilland Enterprises ,LLC (316 Johnston St., Alex., LA 71301) to Malcolm L & Rebecca R Burns (4111 Leon Dr., Alex., LA 71303) - Lot 110, St. Andrews Links Estates, Phase III (252 St. Andrews Dr., Alex., LA 71303), $35,000.00

(-1.25) New home sales: looking for one new home sale per week the market gave us zero sales for negative score. Tennyson Oaks has 11 homes under construction and only 3 remaining lots.

 

(-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 which totaled $202,000 / $3,460,900 = 5.83% but if you include larger acreage sale $202,000 / $5,835,900 = 3.46%. I choose to rate this as negative for the week.

 

The Evangeline Bank (497 West Main St., Ville Platte, LA 70586) to Phillip M Lemoine, et al (P O Box 95, Mansura, LA 71350) - 2.05 acres in Sec 27, T2NR3E, et al & mobile home (68 Beauregard Road, Alex., LA 71302), $80,000.00

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71301) to James G Gregory, III & Veronica D Gregory (325 Tioga Road, Ball, LA 71405) - Lot 7, Sq 2, Hardy Tullos Subd., $122,000.00

 

 

 

Email regard Lafayette market: From Bill Bacque

 

If I were to write a headline describing our residential marketplace’s performance during the first quarter of this year, it would read something like this: 2013 Acadiana Housing Market Reflects Unprecedented Demand.

 

Here’s the evidence:

 

·         The number of home sales reported to the Realtor Association of Acadiana’s Multiple Listing Service (MLS) in March is the highest monthly total since I began compiling monthly records in 1990. As such I am comfortable is saying that it was the best month’s housing sales ever reported. While Lafayette Parish’s home sales were the major catalyst for this historic number, March sales reported from outside of Lafayette Parish rose by 20% over March of 2011 and are up 7.4%  January through March as compared to the first quarter of 2012 (Page #1). Evangeline, St. Mary and Iberia Parishes have had the greatest percentage increases for the first quarter with 80%, 46% and 26% increases respectively. Iberia Parish had the highest average sale price ending the first quarter at $126,832, a 20% increase over the $105,642 average sale price tallied for the first quarter of 2012. Home sales outside Lafayette Parish represented 32% of the total number of sales reported to the MLS for the first quarter of 2013, while closed dollar volume represented 20% of the total reported to the MLS (Page 26).  

 

·         As previously stated, Lafayette Parish has lead the way on our path to record breaking home sales. The 262 home sales reported to the MLS for March was the highest number for March on record. For the first quarter of 2013, Lafayette Parish’s home sales bested 2012 by 31%. New construction remains the home of choice in Lafayette Parish with new home sales up by nearly 53% over 2012 while re-sales were up by 23% (Page 2). South Lafayette Parish remains the location of choice with 48% of the sales reported through the first quarter being in the southern section of the parish (Page 30).

 

·         The dollar volume of Lafayette Parish home sales for the first quarter of 2013 totaled $136,340,261 versus $96,534,805 for the first quarter of 2012. That’s an increase of 41%. The $201,606 average sale price for the first quarter of 2013 was up by 7.8% over 2012 while the $173,950 median sale price rose by 5.7% over 2012’s $164,600 (Page 4).

 

·         Will the momentum continue? Based upon the number of homes that went under contract during the month of March, the answer is a resounding “yes.” Lafayette Parish pending sales reported to the MLS for March rose 39% over March 2012. Nearly 72% of those pending sales were for newly constructed houses assuring that that segment of the housing market will continue to flourish into April and May (Page 6).

 

·         With all of the demand in the marketplace, one might question whether the inventory of houses on the market has shrunk significantly. Again the correct answer would be “yes.” The overall number of month’s supply of housing on the market in Lafayette Parish as of the end of March 2013 was 4.8 months. At the end of 2012’s first quarter it was 6.5 months. For re-sales, the number of month’s supply as of March 2013 was 4.6 months as compared to 6.3 months in 2012. Despite the significant demand for new construction, builders are busy putting product on the market, yet despite their effort, the number of month’s supply for newly constructed homes was 5.1 months as of March 2013. That’s down from 7.0 months in 2012.

 

Through all of the data compiled in our monthly report, I could not find a negative aspect relative to our local housing market. With interest rates remaining at historically low levels, our healthy regional economy, inventory shrinking in relation to demand,  and home values generally rising, all point to a robust and growing Acadiana housing market.       

 

William J. "Bill" Bacque

 

 

 

Indices

 

Last

Last Week

YTD return %

DJIA

14606.11

14526.16

11.46%

NASDAQ

3224.98

3256.52

6.80%

S&P 500

1559.98

1562.85

9.38%

MSCI EAFE

1659.21

1668.52

3.44%

Russell 2000

925.66

950.24

8.98%

 

Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.16

0.17

30-year mortgage

3.57

3.98

 

Currencies

 

Last

1-year ago

Dollars per British Pound

1.520

1.588

Dollars per Euro

1.288

1.314

Japanese Yen per Dollar

96.170

82.640

Canadian Dollars per Dollar

1.013/td>

0.996

Mexican Peso per Dollar

12.334

12.821

 

Commodities

 

Last

1-year ago

Crude Oil

93.26

101.47

Gold

1548.39

1618.69

<br />

Bond Rates

 

Last

1-month ago

2-year treasury

0.22

0.26

10-year treasury

1.69

2.06

10-year municipal (TEY)

3.22

3.09

 

Rod's Notes For Friday 04/05/13


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

 

Absent Wednesday: Belle Chatlain asked me to speak at breakfast meeting for ASH honors students.

 

Town Talk’s Editorial on eliminating home interest as a deduction: I strongly disagree with their opinion and logic that the deduction causes people to buy more expensive homes or at least take out larger loans. If you read between the lines in their editorial the Town Talk is making prediction that homes prices would fall without the deduction and they are correct. The Town Talk makes no mention of fairness in changing the rules after the game has started. Nor do they mention 1,000,000 members in Realtors association and another 500,000 in related industry. Just look at $75,000 home stead exemption in State of La. how difficult politically would it be to reduce or remove this in the state. Editorial are for opinions and Town Talk has the right and even the obligation to express opinions that readers disagree with.

  

Restaurant Rumors:

 

Coming new restaurant on Jackson Street: Locally owned with celebrity chef near 20th and Jackson in an old house. I cannot say anymore, partly because I do not know any more.

 

Local place moving to Sharkey Bar on 28 west, not at liberty to say who but it is local Italian family who has been in restaurant business for a long time.

 

Every Deal has a Tale / Tail:

 

Absolute auction for 19 condos downtown on Cane River in Natchitoches April 27th  Janice Bolton Realtor from Natchitoches will call in with more information about the properties and the auction.  

 

Weil Co., Inc. (P O Box 1548, Alex., LA 71309) to Trotter Investments, LLC (5003 Masonic Dr., Alex., LA 71301) - Part of Lot 2, Sq 20, City of Alex. (1024 Third St., Alex., LA 71301), $282,500.00. Loan indicates Trotter plans on some remodeling: Trotter Investments, LLC (P O Box 7999, Alex., LA 71301) to MidSouth Bank (1423 Wimbledon Dr., Alex., LA 71303) - Part of Lot 2, Sq 20, City of Alex. (1014 & 1024 3rd St., Alex., LA 71301), $590,000.00

 

Marlowe Properties, LLC (7541 Hwy. 71 South, Alex., LA 71302) to Spurgeon Investments, LLC (5149 Hunters Grove Lane, Alex., LA 71303) - .53 acres in Sec 55, T3NR1W (7541 Hwy. 71 South, Alex., LA 71302), $197,500.00

 

England Economic & Industrial Development District: Rumor is they are in negotiations with owner of 200 acre tract on Highway One North.

 

Absorption Mykoff report for March attached:

 

8.23 months’ supply            total market 790 for sale 96 sold and 170 on the market. Higher than national average

32 months’ supply               above $400,000 with 32 for sale 1 sold 3 new homes on the market

20.4 months’ supply            $250,001 to $400,000 with 102 for sale 5 sold and 23 new homes on the market

7.36 months’ supply            $150,001 to $250,000 with 221 for sale 30 sold and 44 new properties on the market

7.25 months’ supply            under $150,000 with 435 on the market 60 sold and 100 came on the market.

 

340 number of new homes that were listed in March and only 96 sold

 

People not property: 

 

My marketing partner Priscilla Perry will be out of the office for a few days with her wedding and honey moon. We are so busy that I asked her to postpone the wedding and help me with the deal we have under contract but looks like the wedding has priority offer our real estate transactions.

 

Matthew Shockly kudos for being accepted at all three military academies.

 

Torch Awards presented by BBB

 

1.    Coody Roofing                     Integrity Award

2.    Customer commitment       Despino Tire Service

3.    Good Neighbor Award        First Federal Bank of La.

4.    Nonprofit Award                   Hope House

 

Next Friday Central Louisiana Chamber will have Business Awards dinner at SAI Convention Center. Reception starts at 6:30 pm and dinner at 7:30 pm. The event is called the “Bizzies” recognition in 12 different categories.

 

Construction Contracts:

 

Rapides Parish School Board (619 Sixth St., Alex., LA 71309) to Interstate Restoration, LLC (3401 Quorum Dr., Suite 300, Fort Worth, LA 76137) - Martin Park Elementary School Fire Restoration Phase One, $1,134,000.00

 

Speaking of construction contracts nearly completed repairs on Washington Square from Christmas tornado and then last week’s storm came close to hitting the building again. A special “Shout out to tenants, vendors, Hartford Insurance, and governmental agencies.

 

(+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 March 25th though March 29th added an extra day this week due to Good Friday holiday

(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: this was last week in the month expectation is higher volume but clerk of courts was closed for good Friday volume in four days was $7,221,080 with 56 transactions for positive score. April 1st transaction will show up again next week, I needed 5 business days for REI

 

(+1.25) Lot sales: To rank positive score need one sale per week the market provided 9 last week and 3 this week. .

 

William L Foret (846 Natchitoches Dr., Ville Platte, LA 70586) to Karl F Schneider (4821 Collinsburg Dr., Alex., LA 71303) - Lot 32, The Lake District, Phase I (4821 Collinsburg Dr., Alex., LA 71303), $80,565.34

 

West Lake Estates, LLC (2230 S MacArthur Dr., Alex., LA 71301) to Sibal S Holt (404 Hudson, Alex., LA 71302) - Lot 20, The West Lake Estates, Phase I, $38,500.00

 

Riaz Chaudhry to Howard Ivory (106 Rock Point Circle West, Pineville, LA 71360) - Lot 11, Richfield Subd., Phase I, $39,900.00

 

(+1.25) New home sales: looking for one new home sale per week the market gave us one for positive score.

 

V&V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Albert C & Leah S Pearce (196 West Lauren Dr., Alex., LA 71303) - .296 acres in Sec 22, T3NR1W (196 West Lauren Dr., Alex., LA 71303), $485,000.00

 

(-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 with volume of $767,353 / $7,221,080 = 10.62% for negative score. Last week there were zero lender sales, I had hoped that zero might be the trend but it looks like they were just backed up waiting for last week in the month.

 

U S Bank (2711 North Haskell Ave., Suite 100, 15th Floor, Dallas, TX 75204) to Paula Perry (P O Box 308, Voyce, LA 70149) - Part of Lot 4, J A Netherlin Subd. (500 Hooper Road, Pineville, LA 71360), $89,000.00

 

The Bank of New York Mellon (2711 North Haskell Ave., Suite 100, 15th Floor, Dallas, TX 75204) to Mark F Vilar (1003 Maureen, Alex., LA 71303) - Lot 6, Sq 5, Plantation Acres, Part II (1716 Magnolia Dr., Alex., LA 71301), $85,575.00

 

Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to C J Coop, LLC (P O Box 7086, Alex., LA 71306) - Lot 80, Westwind Subd., $117,500.00

 

J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Justin M Grimm (19 Jack Deville Road, Deville, LA 71328) - 1.847 acres in Sec 8, T4NR3E (19 Jack Deville Road, Deville, LA 71328), $58,500.00.

 

Sec. of HUD (1670 Broadway St., 12th Floor, Denver, CO 80202) to Joyce C Chandler (118 Tall Timbers Lane, Ball, LA 71405) - Lot 4 & part of Lots 3 & 5, Tall Timbers Subd., $136,760.00

 

Sec. of HUD (1670 Broadway St., 12th Floor, Denver, CO 80202) to Corey K Adkins (6647 Lost Ridge Dr., Pineville, LA 71360) - Part of Lots 42 & 43, Lost Ridge Subd. (6647 Lost Ridge Dr., Pineville, LA 71360), $119,900.00

 

Bank of America (400 National Way, Simi Valley, CA 93065) to Fannie Mae (2001 Bryan Tower, Suite 1200, Dallas, TX 75201) - Lot 11, Sq 12, Airview Terrace (5103 Blanche Dr., Alex., LA 71302), $100,618.12

 

LPP Mtg., Ltd. (7195 Dallas Parkway, Plano, TX 75024) to Pam L Babin (10 Old Beauboeuf Road, Deville, LA 71328) - Part of Lot 3, Four Anns Subd. (25 H Rush Road, Deville, LA 71328), $34,500.00

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Justin W Squyres (4515 Hwy 28 East, Pineville, LA 71360) - Lot 14, Harmony Hills West Ext. I Subd., $25,000.00

 

Question for the week: Can a condo association amend restrictions without unanimous consent to prohibit a home owner from leasing their condo. We might have a case pending locally within our property management company that will either reaffirm my understanding or prove me wrong.  

 

Interest rates, sight decrease from last week:  30 year rate was 3.74% this week is 3.68%, the 15 year rate was 2.91% this week it is 2.89%, the 5/1 ARM was 2.78% now 2.72%.

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