The Dealmaker: 2/15/2017

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The Dealmaker is a daily note of the day’s top real estate stories served just in time for lunch. Bon Appetit! Subscribe here to receive the Dealmaker to your inbox.
8 Ariz. cities in top 100 ‘Best Places to Be a Real Estate Agent.’ “Sales per Agent”… “Annual Medium Wage per Agent”… “Housing Market Health Index”… “Most Attractive for Real Estate Employment”… These are among the “key indicators” that WalletHub used to “determine the best markets for this particular profession.” Check out the findings and get “advice and insight from experts.” —> http://bit.ly/2lPNun3

Arizona Coyotes’ $395 million arena plan gets new life. “[U]nder legislation approved by a state Senate committee…. [the team] could receive $225 million in public financing for a new arena that would go in downtown Phoenix or the East Valley.”  And what about the Suns and D-backs, who “also are unhappy about playing in older facilities”? Would this legislation help them get new homes? Find out and get further details on SB 1149, at AZCentral. http://bit.ly/2kToqNl

ASU, Arizona Golf Community Foundation to begin work on Papago Golf Course. “Arizona State and the City of Phoenix announced updated plans Tuesday for improvements at Papago Golf Course, including a main clubhouse and practice facility for ASU golf teams designed in part by former ASU golf star Phil Mickelson.” Take a VIRTUAL TOUR of the improvements and learn more about what “Lefty” says will be “the single-greatest short game training space in the country,” at AZCentral. http://bit.ly/2kTclHX

Why more single-family homes are becoming rentals. “The share of single-family homes in the country’s rental housing inventory was 36.13% in 2014, about 5% higher than in 2000, according to [a National Mortgage News] analysis… [And while] different factors… contribute to the transitions between owner-occupied and rental status…. [there was one] major factor that… contributed… more…” —>  http://bit.ly/2kyy04H

New NAHB chair “very positive” about Trump presidency. “Texas-based builder and developer” Granger MacDonald talks Trump,”housers,” “rising interest rates, GSE reform, and a potential rewrite of the tax code.” Lots of info packed into this 4-minute interview. WATCH it at Builder. http://bit.ly/2kTld0p

Mortgage seekers jump whopping 22% last month. “[A]pplications for new home purchases surged in January [‘9.2 percent higher than in January 2016’] according to data from the Mortgage Bankers Association.” Why MBA VP of Research and Economics, Lynn Fisher, isn’t surprised about it, in Mortgage News Daily. http://bit.ly/2kKCuGA

Bonds tied to dying malls could be the next ‘Big Short.’ “[T]ipping point”… “retail upheaval”… “wave of retail closures”…“toxic cocktail” — those are a few of the gloomy descriptors used by Alder Hill Management in a “report to investors [that makes] the case against commercial mortgage-backed securities tied to retail property.” The WSJ reports that “Alder Hill… recently placed a short position, betting certain low-rated securities would suffer a 30% to 70% loss.” Additionally, just “[l]ast week, Deutsche Bank analysts recommended shorting risky slices of debt tied to malls…” http://bit.ly/2kTdO10

GREAT EXPECTATIONSGap between expectations and appraisals widens. “(HPPI) showed the average appraisal value was 1.47% below what owners expected in January. This two-month drop in the HPPI comes on the heels of a six month stretch where opinions between homeowner and appraiser were steadily moving closer to equilibrium.” Quicken Loans Chief Economist Bob Walters weighs in on the importance of “[a]ccurate expectations,” in Builder. http://bit.ly/2lRhjCT

Cameron’s $5M + deals of the day – http://bit.ly/2kyr8oe

Because you are an informed person, as a supplement to the Dealmaker, we are providing you 3 (sometimes more/less) non-real estate related articles we thought you might enjoy!
WAGE WAR – State Supreme Court agrees to take up minimum wage case. “At the heart of the issue… is the claim that Proposition 206 violates the Constitution’s revenue source rule. The case was brought by the Arizona Chamber of Commerce and other business groups and supported by Gov. Doug Ducey and Republican legislative leaders.” A hearing is scheduled for March 9. More on the case and how it reached the Supremes, at Arizona Capitol Times. http://bit.ly/2lR3uUP

DISABLING DISABILITY SUITS – Lawmakers target attorneys who exploit Arizona’s disability law. “Sen. John Kavanagh… and Rep. Maria Syms… have each introduced legislation in response to a flood of [AzDA] lawsuits… Kavanagh’s [bill gives] businesses [time] to correct compliance issues…. Syms’ [bill]… would empower the courts to fine those they determine filed lawsuits primarily to line their pockets.” AZCentral reports, however, that “disability-rights advocates have come down heavily against Kavanagh’s legislation.” http://bit.ly/2kTk1dp

Court of Appeals hears challenge to Medicaid expansion affecting hundreds of thousands. “The Goldwater Institute… is challenging the expansion, arguing that a levy imposed on hospitals is a tax increase and required two-thirds approval of the Legislature, which it did not receive. At stake is Medicaid coverage for up to 400,000 childless adults in Arizona.” Arizona Capitol Times. http://bit.ly/2l8Qgn8

How Ben Thompson built Stratechery into a one-man publishing empire. Recode calls Ben Thompson “one of the smartest analysts and clearest thinkers on the media and technology industries.” In this video interview with the tech news site, Thompson discusses “his Stratechery blog,” along with how “[t]he internet enables niche in a massively powerful way” and why his blog’s email newsletter “had to be subscription.” http://bit.ly/2lR54pU

CBRE Completes $10.55 Million Sale of Desert Canyon 200 Read more

HonorHealth Anchored Medical Complex Trades for $10.6M Read more

Phoenix Multifamily Market Closes 2016 With Slower Activity Read more

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group.  Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others.  The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.

Belfiore Real Estate Consulting is Arizona’s leading housing market research firm.  The company couples its surveys of up to 350 new home subdivision sales personnel monthly with resale and public data, as well as the perspectives of leading development, homebuilding, lenders, brokerage, real estate law, contractors, and investors to report on and forecast residential housing market conditions.

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