Rod's Notes Archives for 2013-12

Rod's Notes For Wednesday 12/11/13


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

 

Next week is my last radio show after 15 years of weekly show I am hanging it up. PR team will continue to publish weekly update but we will insert ads for listings and real estate services. I know Fred is taking bets on how long I will stay off the air but my grandfather said, “anything that will make you laugh will make you cry if you have too much of it.” Audience has been too good over the years for me to make anyone cry.

 

People not property: 

 

Jon Norman 2014 President of Central La. Board of Realtors will either call or stop by. Wold like for Jon to tell us who officers are for next year. How many members are in our local board and to discuss how MLS works for buyers and sellers?

 

Allen Eskew 1966 graduate of Menard and prominent architect in New Orleans passed away Tuesday morning at his house in New Orleans. Allen’s design work has dotted the cityscape of New Orleans ranging from 1984 World’s fair, to renovated Superdome. LSU graduate and master’s degree from Berkeley. Allen was known as the master of collaboration and is associate with many big-scale developments.

 

Mayor Fields lost his house in fire yesterday.

 

David Manuel former LSUA chancellor sold his home in Tennyson Oaks.

 

Chuck Wagner sold his home and 6 acres.

 

New Spirits Restaurant is better than my highest expectation asked Lee Gwinn to call in and tell us about this dream

 

Every deal has a tale / tail

 

Nationwide Mer-Car DG, LLC (1410 S Clinton St., Chicago, IL 60607) to Citigroup Global Markets Realty Corp. (388 Greenwich St., 19th Floor, New York, NY 10013) - .794 acres in Sec 6, T1NR1E (1812 Hwy. 71, Lecompte, LA), $18,200,000.00. I think this the agriculture facility in Lecompte.

 

La. College accreditation reaffirmed great news for Central La.

 

Construction contracts:

 

LA DOTD to Jack B Harper Contractor, LLC - Statewide Impact Attenuator Repair, $1,413,288.00

 

Rapides Parish Police Jury to Rylee Contracting, Inc. - 84" & 60" Gravity Drainage Outfall Rehabilitation at Huffman Creek, $396,916.00

 

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 December 2, 2013 to December 6, 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: 39 transactions close enough to my 40 count for positive score $5,862,697 total volume(-1.25) Lot sales: To rank positive score need one sale the market gave zero for second week in a row

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

 

KEH Construction, LLC  Kenny Huffman (P O Box 69, Libuse, LA 71348) to Demetrius O Carpenter & Cendi M Coutee (451 Ocho Rios Dr., Pineville, LA 71360) - Lot 26, Ocho Rios Subd., Phase 1A (451 Ocho Rios Dr., Pineville, LA 71360), $200,000.00

 

(-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 5 lender sales for volume of $307,587 / $5,862,697 = 5.24% posting negative score for the week.

 

LPP Mtg., Ltd. (7195 Dallas Parkway, Plano, TX 75024) to KPRO Enterprises, LLC (5411 Coliseum Blvd., Alex., LA 71301) - Lot 26, Blk C, Deerfield Subd. (5953 Deerfield Dr., Alex., LA 71301), $68,187.00

 

US Bank to Scott J Smith - 3.09 acres in Sec 1, T3NR1E (969 Brannon Road, Pineville, LA 71360), $123,900.00

 

J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Glen L Carwell (373 Booster Wright Road, Calcasieu, LA 71433) - 1.03 acres in Sec 3, T1NR4W (22 Padgett Road, Hineston, LA 71438), $26,500.00

 

First South Farm Credit, ACA (P O Box 1669, Opelousas, LA 70571) to Ricky D & Dana M Elliott (P O Box 434, Forest Hill, LA 71430) - 19.072 acres in Sec 18, T1SR2W, $76,000.00

 

Bayview Financial Property Trust (4425 Ponce De Leon Blvd., Coral Gables, FL 33146) to Nathaniel Gray, Jr. (P O Box 5284, Alex., LA 71307) - Lots 74 & 75, Hi-Way Heights Addn. (3423 Felker St., Alex., LA 71301), $13,000.00

 

Interest rates compared to previous week: 30 year fixed last week was 4.43% this week is 4.42% the 15 year fixed was 3.46% this week is 3.44%. I talked with two mortgage loan officers at different lending institutions and they said September and October were very slow months. Refinancing activity is behind us now plus increased interest rates, decrease inventory, and dearth of new spec building you can expect home lending to be down.

 

Investor sales, LLC does not always mean the deal is investment property.

 

Christopher E Stagg (2408 Detroit St., Alex., LA 71302) to RDK Properties, LLC Richard Kyle (1423 Lee St., Alex., LA 71301) - Unit 5614, The Raintree Condominium, $62,500.00

 

Mara L Trotter (4015 Earl Dr., Alex., LA 71303) to Steven Seale Properties, LLC (176 Harper Road, Hineston, LA 71438) - Lot 36, Cloverdale Subd. (524 Redbird Lane, Alex., LA 71303), $60,000.00

 

Price Co Development Corp. (2002 Melrose St., Pineville, LA 71360) to Shadetree Realty, LLC Shane Tubre (36439 S Winding Ridge Dr., Prairieville, La 70769) - 25.7 acres in Sec 22, 26, & 27, T4NR2W, $245,000.00

 

Juelda O Hargrove (P O Box 673, Deville, LA 71328) to The Red Horse, LLC Donald Paul (204 Holiday Park, Pineville, LA 71360) - Tract in Sec 17, T4NR1E (2701 Hwy. 107, Pineville, LA 71360), $165,000.00

 

Interest rates: 30 year rate was 4.34% this week is 4.43%, the 15 year rate was 3.39% this week it is 3.46%

Rod's Notes For Wednesday 12/04/13


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

 

Very Slow week only three days of business last week: Great time for our audience to call with questions, corrections or answers to my questions for assistance from drive by reporters.  

 

Ate so much over the holidays I cut myself shaving and gravy came out.

 

Christmas gifts ideas.

 

1.     River Oaks porch sale this this Saturday starting at 9:00 am. Share the Debbie Barns shopping trip for Ray Frye

2.    Phone number for the book store is 205-870-4242 email address is boosmith@mindspring.com approximately $35 to $45 per month for autographed first edition books mailed to you each month. Great way to pass on a library to a loved one.

 

New Spirits Restaurant is better than my highest expectation asked Lee Gwinn to call in and tell us about this dream

 

Every Deal has a Tale / Tail:

 

Real Estate Partners of Lee Street, LLC Ted Kergan I think he owns Sonics(P O Box 80154, Lafayette, LA 70598) to Price Co Development Corp. (1935 Melrose St., Pineville, LA 71360) - Tract in Sec 46, T3NR1W (4812 Lee St., Alex., LA), $75,000.00. Looks like Ronnie Price purchased closed Sonic on Lee street extension for only $75,000 keep your eye on this property

 

Cenla Real Estate Rentals, Inc.Dewey Helverson (105 Bolton Ave., Alex., LA 71301) to Douglas J Selman, Jr. & Candace D Selman (139 Chris Lane, Pineville, LA 71360) - Lots 9-12, Sq 26, West Alex. Addn., $69,900.00. This is the corner of Bolton through to 16th at Levin. Doug might be using this for his disaster relief or roofing company. I think this was Dewey’s Helverson’s used car lot?

 

Cold Storage owned by Robert Wolfe is being demolished at corner of MacArthur and Government Street, second property this month that Robert Wolfe is returning to “green site”. Robert Wolfe is extremely smart has lots of experience and his activity on demo is telling us something about the market.

 

This is site number 4 that we have covered this quarter on this show where the building is coming down.

 

1.    Former Burger King on MacArthur

2.    Spencer Marks on Jackson Street extension, is now one beautiful site

3.    Robert Wolfe close to corner of Jackson and Dorchester

4.    Now cold storage at Government and MacArthur

 

Can drive by reporters think of other sites that have recently witness demolition? What does this tell us about the market?

 

Emails from Listeners: had few folks email me about the “deal they missed this year” and it got me to thinking about the ones that got away in 2013 and my choice so far is former Damico’s restaurant downtown. Mark Atwood purchased for $108,000. Ask the audience to call in for the deal they missed this year.

 

People not property:  I have resigned from LREC and have asked the Governor to appoint someone from Central La. Ask our audience who they would appoint to fill my position from Central La.

 

(+1.25) Rod’s economic indicator perfect score is 5. When top rating of 5 appears week after week I will share with our audience, that “Green Shots” is here and recovery is in full swing. 

 

Legal recorder data: business days from time period of November 25, 2013 to November 29, 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: I had predicted slow week with Thanksgiving providing short business week. Only 27 sales through Wednesday volume of $3,429,397

 

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

 

 

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

 

(+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 zero

 

Interest rates: 30 year rate was 4.34% this week is 4.43%, the 15 year rate was 3.39% this week it is 3.46%

 

Couple of National stories

 

Amazon PR for cyber Monday was best I have ever seen: CEO Jeff Bezos interview on 60 minutes which happened to mention future possibility of drones delivering packages to consumer’s door step was picked up by every network on Cyber Monday. We even made a $28 purchase from Amazon

 

FDIC quarterly Ranking: Red River Bank made top 10 Largest Banks in the State competing with all big banks.

 

Locally rankings

 

1.    34% Red River Bank

2.    19% Capital One

3.    15% JP Morgan Chase

4.    9% Evangeline Bank

5.    6% Regions

 

Front page Tuesday WSJ headlines read: Tally of U.S. Banks Sinks to Record Low

 

1985 was the year I was appointed to Security Bank Board, I was 35 years old. At that time there were 14,000 banks in American. I can remember Scotty Brame telling me “Rod by the time you are 60 America will have less than 7,000 banks. Scotty missed that prediction by three years.

 

6,891 is the number after the third quarter, lowest since regulators have begun keeping tract in 1934

 

18,000 banks at the peek

 

10,000 left the market between 1984 and 2011 almost entirely from banks with less than $100 million in assets

 

we are seeing fewer branches 3.2% decline nationwide from last year. Count how many locally have closed or announced to close

 

Three reasons for losing 10,000 banks during that period 17% of them failed, mergers and consolidations

 

One way banks grow is to buy smaller banks this activity is down 25% from 2012 only 89 sales of branches and Central La had 3 of those.

 

Very few startups this next comment is true but sounds unbelievable since December 2010 only Bird-In-Hand Penn opened a new bank. The bank’s name is Bird-In-Hand Bank

 

Over All bank deposits have grown despite drop in institutions

 

Give us your “Black Friday midnight story”

 

Great week for SEC football: our son Jeff and my wife Marilyn joined me for LSU / Ark game oh what fun and then Saturday night I am playing poker at Marksville sitting next to young man named Jordan who was an Auburn alumni and won $27 dollars and saw an unbelievable ending to great game.

 

Top it off for week end football we had previously planned to attend out of town Saints game and changed our minds about traveling to Seattle for Monday night game against the Sea Hawks. What a lucky decision.  

 

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