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The Dealmaker: 3/7/2017

Posted by   /  March 7, 2017  /  No Comments

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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.
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Get a look at planned South Mountain Freeway art in Phoenix. “[It] will feature ‘five distinctive aesthetic character areas to… help tell an area’s story…’ Some patterns will evoke the area’s agricultural heritage, while others will feature… shapes based on native cholla and ocotillo…” (Since this art is all about telling the “area’s story,” maybe ADOT can also throw in a few works that evoke the narrative that concerns the repeated legal smackdown of various groups and their failed attempts to stop this long-awaited, much needed freeway.) See the artistic “mock-ups” and take a seven-minute, bird’s-eye virtual tour of the “22-mile extension,” at AZCentral. http://bit.ly/2mxH4f1

STAYING POWER – Tempe ‘squatter’ loses in court again as judges affirm lower-court ruling that case lacks merit. “But [Steve Sussex’s] 12-year turf war remains far from resolved. Sussex’s attorney… said… he would appeal the court decision to the state Supreme Court. And a separate court case between the squatter and Tempe is still pending at the Superior Court level.” View a squatter slideshow, take a video tour of the “century-old… [h]istoric adobe house,” and find out why it could take another 100 years before this case is ever resolved, at AZCentral. http://bit.ly/2mBVtqI

Pollack: A disconnect with Arizona’s employment data. And The Monday Morning Quarterback confesses that it’s a “disconnect [that] puts us at a loss to explain.” See why and also check out the “Snapshot” topics which include… U.S.: Personal & Disposable Income, Consumption & Savings, Consumer Confidence (“highest… since… 2001”!), Manufacturing & Non-manufacturing Indices, Auto Sales, Pending Home Sales, Home Buying Interest (“highest… since… Great Recession”!).  AZ: Greater Phoenix S&P/Case-Shiller Home Price Index. http://bit.ly/2mfxhb9

This past year was a record setter for mortgage applications. “Black Knight Data & Analytics Executive Vice President Ben Graboske… ‘A strong fourth quarter finish to the year pushed total 2016 origination volumes to the highest level seen in nine years…. [However]… it [is] very likely that we will see [some]… numbers decline significantly in the first quarter.’” Jann Swanson sifts through the latest data from Black Knight’s Mortgage Monitor  (with charts & graphs galore!) at Mortgage News Daily. http://bit.ly/2lYT0mU

Compared to last year, homebuyers are more inclined to buy now. How has your perspective on buying changed in the past year? What do you think will happen to mortgage rates in the next six months? What most influenced your recent decision to buy? Those were the questions posed in “a recent Redfin survey of 1,002 homebuyers.” For a full breakdown of survey results, click through to, yep, Redfin. http://bit.ly/2naWkeD

Housing demand over the next decade. “[O]ver the next decade, existing home sales should be hitting approximately 6 million a year… even if mortgage rates should go up to 7%.” More on this and other Lawrence Yun prognostications, as the NAR Chief gazes into his closing-activity crystal ball, at Forbes. http://bit.ly/2lTXev3

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

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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!
Arizona tax cut bill meets its demise. “Arizona lawmakers killed a bill designed to keep Arizona competitive in the race for manufacturing businesses… When House Bill 2492 was put on the examination table… lawmakers found some fatal symptoms…” The Republic’s government reporter Mary Jo Pitzl presents what she calls “an autopsy of what led to the demise of a bill that, in other circumstances, might have received a warm reception.” —> http://bit.ly/2mBVvz6

ALL MY CHILDREN STUDENT JOURNALISTS’ – Committee approves bill protecting student journalists. “SB 1384 would limit the ability of administrators to censor university, community college and public school papers.” Capitol Media Services’ Howard Fischer reports that a “House panel” approved the measure by a vote of “10-1… despite objections by one lawmaker who feared giving too much power to ‘children.’” Read the report at Arizona Capitol Times. http://bit.ly/2mfuyhQ

Amazon to begin collecting taxes in NM next month. “The online retail giant will begin collecting gross receipts tax on New Mexico purchases in April… The move will likely bring in ‘tens of millions’ of dollars in revenue…” Albuquerque Journal. (No word if after these taxes go effect, Amazon plans to send out emails asking if the taxes met customers’ expectations and also requesting that they leave tax-packaging feedback.) http://bit.ly/2mxHaDq

Trump call for merit-based immigration puzzles experts. “Switching away from this current system… and instead adopting a merit-based system, will have many benefits,” Trump said in his address… to a joint session of Congress. “It will save countless dollars, raise workers’ wages, and help struggling families — including immigrant families — enter the middle class.” So why are immigration experts “puzzled”? According to Cronkite News, it’s “mostly because they don’t know exactly what the president meant.” Click through to read the story and to find what THAT means: http://bit.ly/2mxRHyyLike The Dealmaker by Belfiore & Rose Law Group on Facebook

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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  • Published: 3 months ago on March 7, 2017
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  • Last Modified: March 9, 2017 @ 9:36 am
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