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The Dealmaker: 1/10/2018

Posted by   /  January 10, 2018  /  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

 

 

Realtor.com® issues housing forecast at IBS. “The forecast [delivered at The NAHB International Builders’ Show] predicts a growing economy and positive demographic trends, creating opportunities… despite the affordability challenges buyers will face from rising prices and mortgage rates.” Builder has the key takeaways from the forecast — or if you happen to be in Orlando, Fla. at the Builder’s show, you can pick up a FULL copy of it RIGHT NOW through tomorrow at the Builders Digital Experience booth. http://bit.ly/2ml4AuU

Re/Max: Real estate expected to boom in 2018. “After a year of rising home prices, low inventory levels and ongoing homebuyer demand, these conditions will increase even more in 2018.” Time to “[pump] up the volume on new home building,” says Re/Max Co-CEO Adam Contos, as 2018 “will bring an abundance of positive trends.” Check out his “four predictions,” in HousingWire. http://bit.ly/2qQuAD1

How Ahwatukee homeowners fought developers and won golf course battle. AZCentral City Hall reporter Jessica Boehm chronicles how Ahwatukee residents “came out on top” in a four-year legal battle to prevent residential development on what has “devolved into” a chain-linked and barbed-wired shuttered “eyesore,” aka Ahwatukee Lakes Golf Course. http://bit.ly/2DfoTkq

W-HOA! – Arizona bill would make it easier for HOAs to take your home. “Currently, Arizona [HOA’s] can foreclose on owners if they fail to pay their dues for a year or get behind by $1,200… But a bill introduced by one of Arizona’s most powerful Republican senators [John Kavanagh, R-Fountain Hills] would allow HOA foreclosures after six months, with no minimum debt.” Opponents call it “a dangerous bill.” AZCentral. http://bit.ly/2Dfp2V0

Apartment and condominium absorption increased in Q2 2017. <– That according to SOMA. A Brave New World reference? No, we’re talking about the Survey of Market Absorption, from the Census Bureau together with HUD. Eye on Housing has all the figures along with enough charts and graphs to send the wonks among us into a state of euphoria. –> http://bit.ly/2EtQVZ7

106KSF warehouse planned along S. Mtn. Fwy. “Red River 647 Holdings, LLC (Central Freight Line, Inc.) has a submittal before the City of Phoenix to create a… logistics facility at 59th Avenue and Lower Buckeye… The company’s current location at 49th Avenue and Mohave is at capacity, and it is looking to expand to the 28.8-acre new site.” Further details and floor plan at AZBEX. http://bit.ly/2qT2XZS

Phoenix ends 2017 with big data center deals. “The Phoenix data center market, which has a strong 2018 ahead, ended 2017 with a bang: a major wholesale data center agreement [btw. H5 Data Centers and LeaseWeb USA] and a major development approved in December [QTS Realty Trust Inc.’s plans for a 2M SF data center campus].” Bisnow. http://bit.ly/2FrdRJO

Resort renovations re-energize tourism industry. “With $40,000 in tourism revenue fueling our economy every minute, some of the state’s most high-profile properties have undergone multi-million-dollar renovations in an effort to attract an even bigger slice of that tourism pie…” Get the renovation rundown for fourteen of these resorts at AzBigMedia. http://bit.ly/2qR1Mdu

Arizona Car Week: Barrett-Jackson, more collector-car auctions coming.(Disclosure: Rose Law Group represents Barrett-Jackson.) “Barrett-Jackson is Arizona’s grand-daddy collector-car auction, but more than a half-dozen auctions will roll into Phoenix and Scottsdale next week,” including Silver Auctions, RM Sotheby, Russo and Steele and Gooding & Company. For details on these and the other car auctions — location, dates, times, and ticketing info — motor to AZCentral. http://bit.ly/2Fpor3E

Rich student, poor student. “The Tempe real estate market isn’t kind to students with limited means, yet more high-end apartment complexes are springing up… The Hub set a precedent… Since then, upscale complexes like West 6t… and Rise on Apache… have flooded the area.” As a result, it has given “ASU students an honorary bachelor’s degree in gentrification.” PHOENIX magazine. http://bit.ly/2D1qBsg

Jim Hayden’s widow is among applicants for vacant Surprise City Council seat. “Jim Hayden’s widow [Nancy Hayden] is among three applicants who have so far applied to fill the vacancy left by the Surprise City Council member’s death… Hayden represented District 2, which covers Sun City Grand and other neighborhoods.” AZCentral. http://bit.ly/2qVb60b

Dealmaker BONUS: Jordan Rose called “one hell of a lawyer.” <– By Bill Dougherty, in his Trends Chatter rundown. Bill event-checks Rose Law Group’s annual Christmas bash held at The Coach House in Scottsdale, noting that “Everywhere you looked you saw everyone that matters.” (And that definitely includes the two folks standing with Jordan Rose in a pic from the event.) http://bit.ly/2APj7U4

Cameron’s $5M + deals of the day – http://bit.ly/2CZiSe5



As a supplement to the Dealmaker, we thought you might enjoy these articles!

Lawmakers meet to discuss sexual harassment policies, choose not to broadcast meeting. “As a result, Arizonans were not able to watch in real-time [the joint caucus on the Arizona House floor] as Rep. Don Shooter apologized for inappropriate remarks and unwelcome touching, in response to allegations made against him…” Find out what else you missed in a recap at Arizona Center for Investigative Reporting. (You can also get up to speed via these RELATED items: “Rep. Shooter at first jokes then points fingers during apology for alleged sexual harassment,” in Arizona Capitol Times; “Citing Roy Moore, Arizona lawmakers debate time limits for sexual-harassment complaints,” at AZCentral.) http://bit.ly/2DgeGUU

The Governor’s Office is working to revamp the state’s water laws. “Gov. Doug Ducey’s office is pushing for a spate of changes aimed at altering water laws, from groundwater rules to audits of another public body… Many of the dozen proposals focus on mundane, wonky water details, but have big implications for water management…” Arizona Capitol Times looks at “some of the major proposed changes.” http://bit.ly/2mfeddL

Arizona U.S. Senate seat a race of the formers. Former fighter pilot Rep. Martha McSally, former doctor Kelli Ward and former Maricopa County Sheriff Joe Arpaio look to replace soon-to-be-former-Senator Jeff Flake. Arizona Daily Star (RELATED: “Former Arizona state Sen. Kelli Ward welcomes Arpaio to Senate race”; “Misdemeanor contempt conviction does not prohibit Arpaio’s Senate run”; “Arpaio is ‘probable winner’ in race for US Senate, political analyst says” — all at KTAR.) http://bit.ly/2qTevw6

APS now seeking rate decrease thanks to federal tax cuts. “Arizona Public Service Co. wants to cut about $4.70 from the average residential customer’s monthly bill thanks to the tax changes that President Donald Trump signed into law last month.” READ ON at AZCentral: http://bit.ly/2CP8UZg

Arizona Clean Power Initiative for 2018 will help the future and save money, campaign firm says. “As rumors of a potential clean-energy initiative swirl, the head of the campaign firm behind the successful minimum-wage election in 2016 [Bill Scheel] said he’s indeed working on a planned measure…”  And while Scheel is “keeping the public in the dark on what the “initiative would cover or who’s backing it,” Phoenix New Times “made a few inquiries among people who might know such things.” (And just in case you didn’t catch it above, we’ve also included the link to this RELATED item: “APS now seeking rate decrease thanks to federal tax cuts.”) http://bit.ly/2ANb363

Canada takes ‘hug-an-American’ approach to saving NAFTA. “The ‘hug an American campaign,’… is an attempt to better drive home the country’s strong objections to the Trump administration’s push to radically alter the 24-year-old Nafta pact.” A WSJ paywall piece. (Dealmaker SUGGESTION: With all the craziness reported in the news lately, before our friends to the North attempt to get all cuddly, it might be wise to first get consent.) http://bit.ly/2qLOmzo

Survey: Arizona ranks high on the list of states with racial integration.“[WalletHub] measured the gaps between blacks and whites across 23 key indicators of equality and integration in each of the 50 states and the District of Columbia.” CLICK ON for findings and “additional insight” from WalletHub’s “panel of experts.” http://bit.ly/2qU4e38

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CoreLogic Reports Early-Stage Mortgage Delinquencies Increased Following Active Hurricane Season Read more

CoreLogic reports fourth consecutive month with more than 6 percent year-over-year home price growth in November Read more

CoreLogic reports Mortgage Delinquency Rates lowest in more than a decade Mortgage Delinquencies in Phoenix-Mesa-Scottsdale down year over year Read more

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