Rod's Notes Archives for 2013-06

Rod's Notes For Wednesday 6/26/13


 

 Rod’s Radio Show Notes June 26th 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
 
Almost a no show today our two grandson Jack Hart 5 months old and Noles 3 years old are at the house and leaving the house missing out on Tuesday evening fun with our daughter, my wife and two grandsons was nearly more sacrifice than I wanted to make and write this show last night.
 
We went to New Orleans Thursday after real estate commission meeting and the famn damily came back with us. I did pick up two New Orleans tips for fun and dining that I can share with our audience. $45 luxury hot shave at Aidan Gill fancy barber shop and new breakfast discover at 2452 Canal “Betsy Pancake House $2.50 five silver dollar pancake on children’s menu and Sunday morning’s locals this is now a grand daddy new tradition.
 
People not Property:
 
Elliott Stonecipher shared some scary numbers for Rotary program regard Louisiana’s reduction in population with movement of people earning income, paying taxes, and contributing to better life for competitive community they are moving to. Two examples of personal friends that we are exporting to Florida and Texas
 
Walter M Hunter, III & Stephanie P Hunter (385 Golfview Dr., Miramar Beach, FL 32550) to Dwain C & Julia E Sketo (49 Whittington Dr., Pineville, LA 71360) - Lot 17, Charles Park Ext., Phase I (4132 Waterford Dr., Alex., LA 71303), $275,000.00.
 
Charlie Wagner’s home is listed for sale rumor has it Charlie is moving to Houston.
 
Tip For The Week:
 
Anyone considering whether to buy a home to live in, the decision should focus on whether they can afford the payments, and other cost of ownership, regardless of where prices or interest rates might go.
 
 Every Deal Has a Tale / Tail:
 
Great news regard announcement on troop reduction realignment for Fort Polk 200 instead of possible 5,000. Best single economic development news of the decade. REA axiom for three steps for regional economic development Retain, Expand and Attract.  
 
Blockbuster, LLC (9601 South Meridian Blvd., Englewood, CO 80112) to SE BB Alexandria, LLC (3900 N Causeway Blvd., Suite 1200, Metairie, LA 70002) - 1.605 acres on or near the intersection of Parliament Dr. & Southampton Dr., $554,923.48. This sale does not pass the “scratch and sniff” test. Several offers at higher price, street rumor is one developer had 28 Blockbusters under contract and sold 11 to New Orleans Company.
 
Restaurant News:
 
Brocatos has moved to their new location on Highway 28 West the former Sharkey bar. Taking staff there this Friday if you want my autograph and photo with staff be there noon.
 
England Authority:
 
Derek Jowers (81 Dottie Lane, Boyce, LA 71409) to The England Economic and Industrial Development District - .606 acres in Sec 18, T4NR2W, $155,000.00
 
England Economic Industrial & Development District Vs Zendrea Whitehead - Vs vacate premises known as 1023 Schilling Dr., Alex., LA 71303. Very seldom residential landlord will seek and obtain judgment to tenant you moves owning money or breaking lease. England Authority probably does not have latitude to ignore and move on. 
 
Attachment two weeks activity of Noles-Frye Realty Inc. gives you a snap shot for 25% of MLS production.
 
Construction Contracts: 
 
City of Alex. to Griner Drilling Service, Inc. - 2013 Water Well Maintenance & Rehabilitation Project, $712,676.00
 
City of Alex. to Petron, LLC (1600 Harris St., Alex., LA) - Comprehensive Park Signage System, $270,300.00
 
City of Alex. to Cecil D Gassiott, LLC (1 Easy St., Alex, LA 71302) - Wooddale Outfall and Railroad Ave. Drainage Improvements, $1,074,893.00
 
Louisiana Real Estate Commission meeting update:
 
Listing agent or listing company trading in foreclosed properties when marketing agreement prohibits.
 
E-Clips on Utube for learning
 
6th year in a row number of licensed agents has decrease the fall out is smaller this year but still a decline
 
(+5.00 Perfect Score 4 Weeks In a Row) Perfect Score!
 
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 June 17, 2013 through June 21, 2013 most recent 5 working days.
 
(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:
 
50 Transactions volume of $5,942,221 nearly $6,000,000 largest commercial sale Blockbuster $554,000 largest home sale $539,000 Rue Left Bank
 
900 homes sold last month in Houston not sure what that tells us but it sure is impressive.
 
Best curb appeal for new listing: 1820 White Street $395,000 Martha Bradford’s listing. I drove by it yesterday on way back to the office from Washington Square mentioned on June 4th and noticed yesterday it was under contract
 
(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market provided two
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Debra R Davis (P O Box 3195, Pineville, LA 71361) - 3.05 acres in Sec 42, T4NR1E, $48,000.00
 
Cloverdale Enterprises, LLC to Terrick S & Shawntell L Harrell (5726 Samuel St., Alex., LA 71302) - Lot 23, Ashton Colony, $43,000.00
 
Best Price reduction for the week: 15 acres on Lee Street across from Ratcliff Construction was $459,000 is now $150,300. Mentioned this on June 4th and it has not been sold.
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week the market gave us a single sale but positive score.
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Steven M & Brittany N Schaefer (5803 Toria Dr., Alex., LA 71303) - Lot 254, Bocage Subd., Phase VI (5803 Toria Dr., Alex., LA 71303), $231,000.00
                                   
(+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 five sales total volume of $294,654 / $5,942,221= 4.956% just below 5% but still positive score.
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to James L Gates, et al - Lot 14 of a resubdivision of Lot 7, Cruz Subd. (8435 South Hwy. 71, Unit A, Lacompte, LA), $122,000.00
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to J K Homes, LLC (2103 Kimberly St., Alex., LA 71301) - Lot 23, Lynwood Acres, Rev. # 2 & mobile home (288 Stovall Road, Alex., LA 71303), $21,000.00
 
J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Brett J Chelette (403 Mudge Road, Boyce, LA 71409) - 1.96 acres in Sec 69, T4NR3W (403 Mudge Road, Boyce, LA 71409), $30,000.00
 
Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to Michael S Fuqua (180 Stilley Road, Pineville, LA 71360) - 1.42 acres in Sec 16 & 17, T4NR1E (180 Stilley Road, Pineville, LA 71360), $100,155.00
 
The Bank of New York Mellon (2375 N Glenville Dr., Richardson, TX 75082) to Martin D & Theresa G Roshto (1008 Robin Run, Woodworth, LA 71485) - Lot 14, Sq 27, Kent Addn. (3211 Hynson St., Alex., LA 71301), $21,501.00
Interest rates, historically low but up from last year down from last week: 30 year rate was 4.51% this week is 3.98%, the 15 year rate was 3.57% this week it is 3.09%.
 
$200,000 mortgage at 3.98% for 30 years is $952.53
at 4.51% note payment is $1,014.51
at 5.5% note is $1,135.59
 
Tip For The Week:
 
Anyone considering whether to buy a home to live in, the decision should focus on whether they can afford the payments, and other cost of ownership, regardless of where prices or interest rates might go.
 
Economist article page 34 titled “A lighter ball and chain”
 
During the boom years, circa 2006 Americans borrowed and binged. The hangover has been long and throbbing, but after7 years of water and aspirin, house hold finances are looking healthier.
 
Bullet points from article
 

1.    4Q12 average debt service ratio fell to its lowest levels since 1980
2.    People have been paying down unmanageable old debts and taking out fewer and       smaller new loans.
3.    Rising home prices helped homeowners 1.7million escape under water situations on home debts greater than values
4.    Household net owrth at $70.3 trillion hit all-time high
5.    Home-ownership down to 65% in 1Q13 down from 69% in 2005
6.    Interest rates tumbled from 7% for 30 year fixed to 3.4% in late 2012 are now 4.51% and going north but relief has helped. 
 
 

 
 

Rod's Notes For Wednesday 06/12/13


Rod Noles Property Management, Inc.

 

 Rods Radio Show Notes June 12th 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

 
Story about London could not tell last week. Small world Winston Churchill’s command bunker…did not say who for security reasons. Foster Walker closed an investment property with PR team the very next Thursday.
 
Walker Oldsmobile Co., Inc. (1616 MacArthur Dr., Alex., LA 71301) to Mi Dushi Properties, LLC (5241 Fieldcrest Ave., Alex., LA 71303) - Lot 4 & part of 3, Sq 5, S A Guy's Addn., et al (1605 Bush Ave.), $125,000.00
 
 
Every Deal has a Tale / Tail:
 
1921 Jackson new restaurant opened: The name of the restaurant is 1921 Catherine Davidson a recovering lawyer daughter of Judge Davidson is the owner. Do not know the chef’s name need help from drive by reporters
 
Other Restaurant News:
 
Brocato has moved to their new location on Highway 28 West the former Sharkey bar
 
Construction under way for Spirits on Texas Avenue the former Parish Health Center
 
Construction has stopped on Golden Corral at Westgate the former site of Budget car rental. Any new from drive by reporters.
 
Sundrop Buys Another Property:
 
The Red River Waterway District to Sundrop Fuels of Louisiana, LLC (2410 Trade Center Ave., Suite A, Longmont, CO 80503) - Tract in Sec 7 & 8, T5NR2W, $10,000.00. Word is on the street construction should start by 4th of July
 
Planet Fitness Story from Last Week:

Former Office Max. Concourse Realty Associates I, LP (2432 Grand Concourse, The Bronx, NY 10458) to Gary W & Pamela S Babineaux (2600 WPA Road, Sulphur, LA 70663) - 2.176 & 9.989 acre tracts being part of West End Retail Center, $1,325,000.00.
 
Rent for health club $20,500 per month: Gary W & Pamela S Babineaux (2600 WPA Road, Sulphur, LA 70663) to The HBBR2 Company, LLC, et al (1130 S Fieldspan, Duson, LA 70529) - Tract known as 2255 S MacArthur Dr., Alex., LA 71301 for 15 years @ $20,500.00 monthly rent. I wondered how many monthly memberships at $45 per month would it take to pay the rent of $20,500 / $45 = 455 members. That sounds reasonable to me but I have never owned a health club.
 
$20,500 x12 months = $246,000 Gross * .7 (NET, estimating 30% expenses) = $172,200 estimated NOI / $1,325,000 Purchase Price = 13% cap very rough numbers doesn’t include TI /renovation costs not sure who is paying what…BUT GOOD LOCAL DEAL
 
I am concerned with recently announced closed business or bank branches.
 
Five Star Furniture last week story: going out of business sale, this is second furniture store this year to close in Central La. this year. Other store was Carroll Furniture store on Memorial.
 
Stone Carpet next to Harley Davidson leaving this market Harley expanding. Second carpet store to close the other store is Hooper Carpets on Highway 28 West.
 
Block Buster’s: closed Jackson street store
Whitney announces closing: for 3 bank branches.
 
Large land loan Travis A & Kathy R Broadway (41 Guy Peart Road, Alex., LA 71302) to Louisiana Land Bank (P O Box 4806, Monroe, LA 71211) - 3,734 +/- acres in Sec 25 & 36, T2NR1E & Sec 18, 19, 21, 28-33, T2NR2E, et al, $2,722,500.00 / 3,734 acres = $729 per acre loan amount.
 
Two of My Favorites are Back in Legal Recorder.
 
England Authority: Jody R Morace (20 Cooper Road, Boyce, LA 71409) to The England Economic and Industrial Development District - 5.079 acres in Sec 11, T4NR2W, $70,000.00
 
James W Greer, Jr. (P O Box 1719, Tioga, LA 71477) to Francisco J & Karla J Acuna (5110 Hunters Grove Lane, Alex., LA 71303) - 7.76 acres in Sec 3 & 4, T3NR1E being part of Lot 2 of a resurvey of Lelia C Guyton Estate, $59,000.0
 
People not Property: 
 
Harold Turner buried his son Ben this past Saturday. Ben was 31. Lots of Alexandria friends at Shreveport funeral service. Keep this family in your prayers.
 
Tip for the Week:
 
Anyone considering whether to buy a home to live in, the decision should focus on whether they can afford the payments, and other cost of ownership, regardless of where prices or interest rates might go. 
 
Bad Lawsuit Story:
 
Lady trips and falls in parking lot across the street after picking up her free prescriptions from “Free Pharmacy and sues the Pharmacy and everyone else within shouting range. 
 
Construction Contracts: 
 
Shiloh Missionary Baptist Church (1130 9th St., Alex., LA 71301) to Westerchil Construction Co., Inc. (1833 Sterkx Rd., Alex., LA 71307) - New Church Facility of Shiloh Missionary Baptist Church, 3148 Lee St., Alex., LA 71301, $828,130.00
 
Rapides Parish School Board to Regional Construction, LLC - Lessie Moore Elementary School Site Paving, Fencing and Walking Trail Improvements, $91,500.00
 
Rapides Parish School Board to Regional Construction, LLC - Pineville Elementary School Site Paving, Fencing and Walking Trail Improvements, $176,600.00
 
Mykoff Absorption Report:
 
Total market May 1st 817 homes for sale 117 sold = 6.98 supply
Above $400,001 33 homes 3 sold = 11 month’s supply
$250,001 to $400,000 homes on market 105 / 13 sold = 8.08 month’s supply
$150,001 to $250,000 homes on market 238 / 34 sold = 7 month’s supply
Under $150,000 homes on market 441 / 67 sold = 6.58 month’s supply
 
(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. 
 
“Housing up, but is Foundation Sound?” Monday June 10 A@ Wall Street Journal great article by Nick Timiraos
 
Bulls say:
 
US hasn’t built enough housing to support the country’s growth
 
Slow economic recovery releasing pent-up demand first for rental housing and then for home purchases
 
Bears say:
 
Gains in housing will be short lived pointing to changes in access to credit, elevated consumer-debt levels and an over reliance on investors.
 
Housing prices have stopped falling convincing consumers that they’re no longer at risk of catching a falling knife.
 
Legal Recorder Data:
 
Business days from June 3, 2013 (my brother’s birthday) to June 7, 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:
 
A Positive score for the week with 46 sales and $5,237,305. Impressive activity for first week of the month. Largest sale was $675,000 home sale in Cherokee Park.
 
Best curb appeal for new listing: 1820 White Street $395,000 Martha Bradford’s listing. I drove by it yesterday on way back to the office from Washington Square.
 
(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market provided one with zero developer inventory rates positive score for the week.
 
DKMK, LLC (6008 Stonegate Dr., Alex., LA 71303) to Bryon C & Tammi W Salazar (6524 Tennyson Oaks Lane, Alex., LA 71303) - Lot 44, Crossgates, Phase III (6012 Stonegate Dr., Alex., LA 71303), $37,500.00
 
Best Price reduction for the week: 15 acres on Lee Street across from Ratcliff Construction was $459,000 is now $150,300.
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week the market gave us two for positive score for the week.
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Destin M & Lisa R Harris (1935 Thornton Court, Alex., LA 71301) - Lot 115, St. Andrews Links Estates, Phase III (232 St. Andrews Dr., Alex., LA 71303), $288,000.00
 
Johnny Porter & Sons Contractors, Inc. (42 Philadelphia Road, Pineville, LA 71360) to John L Bardwell (462 Hooper Road, Deville, LA 71328) - Lot 3, Prairie Land Subd. (6 Tyler Road, Deville, LA 71328), $143,000.00        
                         
                                   
(+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 a single sale $50,000 way below my 5% bar for positive score. 
 
J P Morgan Chase Bank (3415 Vision Dr., Columbus, OH 43219) to Granville Cross, III (306 Jones St., Pineville, LA 71360) - Tract in Sec 9, T4NR3E (1574 Hwy. 115, Deville, LA 71328), $50,000.00
 
Interest Rates:
 
Historically low but up from last year down from last week: 30 year rate was 4.11% this week is 4.06%, the 15 year rate was 3.26% this week it is 3.19%,
 
Indices

 

Last

Last Week

YTD return %

DJIA

15040.62

15324.53

14.78%

NASDAQ

3424.05

3491.30

13.40%

S&P 500

1622.56

1654.41

13.77%

MSCI EAFE

1669.61

1723.19

4.09%

Russell 2000

979.46

994.43

15.32%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.09

0.16

30-year mortgage

3.91

3.67

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.562

1.548

Dollars per Euro

1.325

1.256

Japanese Yen per Dollar

96.630

79.130

Canadian Dollars per Dollar

1.025

1.029

Mexican Peso per Dollar

12.894

14.081

 
Commodities

 

Last

1-year ago

Crude Oil

94.76

85.02

Gold

1416.65

1634.81

 
Bond Rates

 

Last

1-month ago

2-year treasury

0.29

0.25

10-year treasury

2.15

1.98

10-year municipal (TEY)

3.45

2.92

 
 

Mykoff Monthly Comparison Absorption Report
 

2013

January

February

March

April

May

 

 

 

 

 

 

Currently listed

791

774

790

788

817

Sold

83

96

96

113

117

Came on the Market

156

130

170

151

183

Current Monthly Supply

9.53

806

8.23

6.97

6.98

 

 

 

 

 

 

$400,001 and Up

 

 

 

 

 

Currently listed

26

30

32

33

33

Sold

0

1

1

2

3

Came on the Market

2

6

3

7

5

Current Monthly Supply

26

30

32

16.3

11

 

 

 

 

 

 

$250,001-$400,000

 

 

 

 

 

Currently listed

92

90

102

97

105

Sold

5

7

5

8

13

Came on the Market

19

12

23

13

26

Current Monthly Supply

18.4

12.86

20.4

12.13

8.08

 

 

 

 

 

 

$150,001-$250,000

 

 

 

 

 

Currently listed

234

231

221

230

238

Sold

21

30

30

30

34

Came on the Market

45

36

44

60

55

Current Monthly Supply

11.1

7.7

7.36

7.67

7

 

 

 

 

 

 

Under $150,000

 

 

 

 

 

Currently listed

439

423

435

428

441

Sold

57

58

60

73

67

Came on the Market

90

76

100

71

97

Current Monthly Supply

7.7

7.29

7.25

5.86

6.58

 
 

 
 

Rod's Notes For Wednesday 6/5/13


Rod Noles Property Management, Inc.

 

 Rod’s Radio Show Notes June 5th 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

 
Stories of our Sojourn:
 
London and Scotland
43 hours get from Alexandria to London
London to Scotland flight 90 minutes turned in 9 hours
Sister in Law is from Scotland I was there as proud great uncle at open house for Fiona to show off her first grand daughter
 
Scotland in May is one of the most beautiful landscapes in the world. Greg O’Quinn called day before we departed
 
First time to London did the tourist thing
 
Small world Winston Churchill’s command bunker…do not say who for security reasons
 
Tube to Paddington and train to Highclere Castel site for filming of PBS series Downton Abbey
 
Making this trip any time soon email me and I will share my notes
 
Every Deal has a Tale / Tail:
 
Former Office Max. Concourse Realty Associates I, LP (2432 Grand Concourse, The Bronx, NY 10458) to Gary W & Pamela S Babineaux (2600 WPA Road, Sulphur, LA 70663) - 2.176 & 9.989 acre tracts being part of West End Retail Center, $1,325,000.00. Super-Size fitness center that’s the rumor
 
Gates LP (P O Box 12007, Alex., LA 71315) to Weil Co., Inc. (P O Box 1548, Alex., LA 71309) - Part of Blk 46, Alex Land & Improvements Clarence Park Addn. (1766 Jackson St., Alex., LA 71301), $130,000.00. Weil Company relocates headquarters Jimmy and Joe Betty
 
Garland H Johnson, Jr. & Laneta P Hayes (6527 West End Blvd., New Orleans, LA 70124) to Boomer Investment Properties, LLC (147 Sunridge Dr., Alex., LA 71302) - Part of Blk 63, Clarence Park Addn. (2124 Jackson St., Alex., LA 71301), $250,000.00. Kenny Daniels continues to build a solid portfolio
 
Robert B Neblett, III, et al (6 Beecher Lane, Austin, TX 78746) to James B Vanderhoeven (P O Box 11638, Alex., LA 71315) - 78.23 acres in Sec 1, 2, 39, & 41, T2NR1W, $375,000.00. Good acreage home sites are popular, rare, and expensive but I think they are a great investment. 
 
William G Leckie (5001 Plantation Road, Alex., LA 71303) to Steven Seale Properties, LLC (110 Ward Road, Boyce, LA 71409) - Lot 8, Alexandria Medical Village, $118,000.00. Rumor is Steven Seal is opening his own real estate brokerage and investment company.
 
Usual Company Names for LLC and Corporations:
 
Home Folks Drive-In, Inc., et al Judy and Robert Hudspeth (50 Lucan Road, Deville, LA 71328) to CDR Adventures, LLC (195 Big Island Loop, Deville, LA 71328) - 1.69 acres in Sec 9, T4NR3E (1627 Hwy. 115, Deville, LA 71328), $65,000.00
 
Acquisitions Investment Group, LLC (702 Belview Road, Leesville, LA 71446) to Light It Up, LLC (2312 S MacArthur Dr., Alex., LA 71301) - Tract in Sec 9, T4NR1E, $50,000.00
 
Bailey Hotel in Bunkie for sale at $198,500 contact our office or Ronnie Chatlain 318-838-2439
 
Five Star Furniture having real going out of business sale, this is second furniture store this year to close in Central La.
 
Whitney/Hancock closing branches announced first week in May
The CEO of Hancock Holding Co., the parent company of Whitney Bank, said today between 40 and 45 branches will be closed within its five-state footprint by the end of the year.
 
Hancock President and CEO Carl Chaney announced the closures during a presentation at the Gulf South Bank Conference, which is being held this week at the Ritz-Carlton Hotel in New Orleans. Chaney declined to name the specific markets where the closures will occur as the company is still notifying employees of the plans, but said the closures will have “little impact” on its core New Orleans and Mississippi Gulf Coast markets.
Now we know 3 local branches are involved what might that mean from real estate view point?
 
People not Property: 
 
Charles Cooper passed away last week at age 89. Friend, neighborhood, and client, once called the show and said “you are one rotten neighbor” (share story with audience)
 
Dr. Doug and Patsy Gamburg have moved from Central La.
 
Construction Contracts: 
 
Town of Lecompte to Progressive Construction Co., LLC - Weems Canal Improvements, $198,476.50
 
Tip for the week: use legal recorder to search evictions on line as part of your tenant application process.
 
(+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. Since I was gone for past two weeks this is double count week.
 
Legal Recorder Data: Business days from May 20, 2013 to May 31st, 2013 most recent 10 working days.
 
(1)Total of 40 closed deals for the week has positive score
(2) At least one new home sale for the week has positive score
(3) At least one subdivision lot sale for the week garners positive score
(4) Number of lender sales in market place is less than 5% of the total market sales for the week.
 
(+1.25) Total Weekly Volume:
 
86 transactions in past two weeks $11,410,187. Largest sale was $1,325,000 volume was large enough for positive score during last two weeks in May
 
(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market provided six sales for past two weeks only needed two for positive score. Five of six sales was from developer’s inventory.
 
Eddy F & Kathleen P Soberon (1613 Emberly Oaks, Alex., LA 71301) to Nicholas M & Saana J Virden (135 B Maxey Road, Pollock, LA 71467) - Lot 95, Woodlands, Phase VI, $44,000.00
 
Weilland Enterprises, LLC (316 Johnston St., Alex., LA 71301) to Lou Y Clayton (101 Rue Donahue, Pineville, LA 71360) - Lot 119, St. Andrews Links Estates, Phase III, $36,000.00
 
Vanmol & Sons, LLC (9374 Hwy. 1655, Woodworth, LA 71485) to Jerry & Wendy L Killian (401 Ocho Rios Lot 2, Pineville, LA 71360) - Lot 2, Ocho Rios Subd., Phase 1-A, $27,000.00
 
Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 274, Bocage Subd., Phase VI (5810 Toria Dr., Alex., LA 71303), $25,000.00
 
Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 267, Bocage Subd., Phase VI (5914 Toria Dr., Alex., LA 71303), $25,000.00
 
Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 276, Bocage Subd., Phase VI (21 Ragan Dr., Alex., LA 71303), $25,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week the market gave us two for last two weeks in May not a barn storming activity but enough for positive score. 
 
ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Chili K Vinson (100 Joy Lane, Pineville, LA 71360) - Lot 1, Marie Acres Subd., Phase I (100 Joy Lane, Pineville, LA 71360), $145,400.00
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Patricia A Smith (117 St. Andrews Dr., Alex., LA 71303) - .487 acres in Sec 53, T4NR2W (117 St. Andrews Dr., Alex., LA 71303), $259,365.00
 
(-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 8 sales with total volume of $892,401 / .05 = $17,848,020 which is point of required volume to rate positive score. Total volume was $11,410,187 which represents 7.82% ($892,401 / $11,410,187 = 7.82%) for negative rating past two weeks
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to JRC Development, LLC (409 Vickie Lane, Alex., LA 71303) - Lot 23, Sq B, Crawford Addn., et al (220 24th St., Alex., LA), $49,000.00
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Tanner A Messina, Jr. & Gwendolyn B Messina (6701 Bayou Rapides Road, Alex., LA) - Lot 10, Sq 6, Homewood Place, et al (19 Tennessee, Alex., LA), $75,000.00
 
Bank of America (400 National Way, Simi Valley, CA 93065) to Fannie Mae (2001 Bryan Tower, Suite 1200, Dallas, TX 75201) - Tract in or near Lot 42, Brookhaven Subd. (5997 Valerie Dr., Alex., LA 71303), $103,264.81
 
U S Bank (2711 North Haskell Ave., Suite 100, 15th Floor, Dallas, YX 75204) to Andrew N O'Neal (2307 Horseshoe Dr., Alex., LA 71301) - Lot 3 & part of 2, White-Gates Subd. (2307 Horseshoe Dr., Alex., LA 71301), $82,900.00
 
Homeland Federal Savings Bank (3941 South First St., Jena, LA 71342) to Trustland, LLC (5615 Jackson St., Building L, Suite D, Alex., LA 71303) - 3.416 acres in Sec 3, T1SR3W, $10,000.00
 
Deutsche Bank (1661 Worthington Road, Suite 100, West Palm Beach, FL 33409) to Fred H & Robin A Ruggles (5126 Mallard Dr., Alex., LA 71303) - Part of Lots 316 & 317, Charles Park Addn. (500 Wycliffe Way, Alex., LA 71303), $305,299.00
 
Midfirst Bank (999 NW Grand Blvd., Oklahoma City, OK 73118) to The Sec. of Veterans Affairs (6900 Almeda Road, Houston, TX 70730) - 2 acres in Sec 45, T5NR1E, $114,273.74
 
Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000. Dallas, TX 75254) to Brad A & Arminda J Tompkins (207 O'Neal St., Pineville, LA 71360) - Lot 56, Lake Hills Subd. (425 Azalea Ave., Pineville, LA 71360), $152,665.00
 
Interest Rates, Third Week of Slight Increase:
 
30 year rate was 3.88% this week is 4.16%, the 15 year rate was 3.03% this week it is 3.32%.
 
 
 

 
 

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