The Dealmaker: 1/23/2018

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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

 

 

 

 

Phoenix real estate in December: Sales up slightly, inventory down 13% YoY. CalculatedRISK’s Bill McBride makes his first Dealmaker appearance of newyear, filling us in on the latest Residential Sales and Inventory figures. Bill reports that December was the “fourteenth consecutive month with a YoY decrease in inventory,” with “prices… rising a little faster in 2017.”–> http://bit.ly/2G8TbGM

Zillow launches 3-D home tour technology in Phoenix. “[The app] uses 360-degree panoramic images to let prospective buyers see more of their possible new digs.” Phoenix is “the first market to get the upgrade in the United States.” Find out how 3D Home works, view screenshots of the new app, and learn why millennials were the driving force behind its development, at KTAR. http://bit.ly/2GbifNp

Scottsdale named among best cities for renters, Glendale among worst.Apartment List has released the results from its third annual  “Renter Confidence Survey” — a “national study of renter’s satisfaction with their cities and states.” One of the oddest results: Scottsdale received an A+ for its weather while Glendale was given a C. (“Probably because of the HUGE temperature differences between the two cities, especially in August,” notes the director of the Dealmaker Sarcasm Dept.) More survey highlights along with a link to the whole thing at KTAR. http://bit.ly/2F8tPY9

Toll is Fortune’s most admired home builder for 4th year. Fortune magazine has named Toll Brothers the “Most Admired Home Building Company” in its “survey of the “Worlds Most Admired Companies.” Additionally, Builder reports that “Toll Brothers ranked #1 in the several other categories.” –> http://bit.ly/2F6hAvi

After shutdown scare, a return to worry over affordability. “Attractive monthly payments — a long-time lever based on low, low mortgage rates –start to get more daunting as interest rates inch upward.” By John McManus, in Builder. http://bit.ly/2n4nLJG

Some glitches, but retail closures are largely bypassing East Valley. “While much of the country is dealing with the fallout of closures by major retail chains, the East Valley is experiencing largely positive trends in the sector… Much of this success has been driven by non-traditional uses in retail spaces” — and by the “food and beverage industry” with “lots of opportunities in downtown Gilbert, Queen Creek, downtown Chandler, south Tempe and east Mesa.” East Valley Tribune. http://bit.ly/2DAcbj3

PhoenixMart purchases air-conditioning units from China. Casa Grande Dispatch: “PhoenixMart spokesman Troy Corder confirmed the purchase to PinalCentral. He said the air conditioners were for the project but didn’t give specifics. (But our guess here at Dealmaker HQ is that all those ACs are probably going to be used for cooling junk down and stuff.) http://bit.ly/2rsZfGG

City of Maricopa offers to trade penalty for ‘accurate’ financial disclosures from anti-Apex group. “City officials are alleging a political action committee formed in opposition [Apex Motor Club] in Maricopa violated Arizona campaign finance laws by failing to disclose donors… The city is offering to quash the $12,675 in penalties if [the group] ‘files complete, accurate and truthful campaign finance reports” within 10 days of the issuance of the Notice of Imposition of Penalty letter.” InMaricopa. http://bit.ly/2n5PNEy

Supreme Court considers a raucous party and an endangered frog; Jordan Rose, president and founder of Rose Law Group, gauges the potential impact for Arizona landowners. “In 2012, the federal government designated private land in Louisiana as ‘critical habitat’ for [a] frog, limiting the ability of the owners to develop the land and by one account potentially costing them about $34 million.” The New York Times reports that the high court has agreed to hear the case on “the habitat of the dusky gopher frog, in Weyerhauser Co. v. United States Fish and Wildlife Service…” Jordan Rose: “This decision could have some real impact on Arizona landowners who currently struggle to make any use of their land which has some relationship to some designated species. We are watching this one closely.” (NOTE: For readers who may not have a NYT subscription, Rose Law Group Reporter has also posted a link to USA TODAY’s no-subscription-required coverage.) http://bit.ly/2Dx9NWI

One economist’s forecast: Valley’s job market, population will grow in 2018. <–That according to a recent “economic outlook forecast” delivered by Valley economist Elliott Pollack. But as Pollack notes in this subscriber piece from PBJ, “not all areas of the state will see similar improvements.” http://bit.ly/2ry1f0s

Arizona among 2018’s best & worst states to retire. “WalletHub compared the 50 states across 41 key metrics. The data set ranges from adjusted cost of living to weather to quality of public hospitals.” Find out where Arizona ranked (it’s a bit of a surprise) and access the link to the full  WalletHub report at ADI. http://bit.ly/2DxlSeN

Kingman Airport Authority increases legal fee expenses in fight against City. “[KAA] raised the stakes by $100,000 in its legal battle against the City’s condemnation filing to take back control of the airport and industrial park.” Daily Miner reports that the “agenda item under old business called for authorization of $50,000, but [KAA’s board of directors] followed a recommendation to up the ante to $100,000 [‘for legal fees to retain its outside lawyer.’]” http://bit.ly/2n5S1DU

Scottsdale developer Fred Unger dies after battle with cancer. “The 69-year-old founder and president of Scottsdale-based Spring Creek Development, was responsible for many of the city’s landmark projects including the Royal Palms Resort, the Hermosa Inn and the canal Waterfront downtown.” Mastermind, visionary, creative, a “rare individual who dreamed big and made those dreams become reality” — those are just a few of the ways Fred is remembered in this AZCentral article, by those fortunate enough to have known and worked with him. http://bit.ly/2DvIH2B

Dealmaker BONUS: ’Business Insider’ whacks Tempe City Hall as Arizona’s ugliest building: Rose Law Group Reporter Phototorial. RLGRslaps back at Business Insider with a ‘whack’ of its own in this “TAKE YOUR CHOICE” pictorial. (Also access this RELATED item from East Valley Tribune: “Chandler High scores as a ‘most beautiful’ school.”) http://bit.ly/2rwrqop

Dealmaker DOUBLE (diaper) BONUS: Supervisor House’s diaper drive kicked into overdrive with over 27,000 diapers donated. Pinal County District 5 Supervisor Todd House has been holding a diaper drive since he was elected to the office. What started as a small donation drive five years ago has turned into a bonanza for local human-aid agencies, as the donations keep on growing and growing and growing. Rose Law Group Reporter has much more on the Diaper Drive, including a shot showing Supervisor House walled-in (or dare we say ‘Huggied’) by “just a few” of the diapers that were collected in 2017. http://bit.ly/2BmYMpi 

Cameron’s $5M + deals of the day – http://bit.ly/2DB4NUn 



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

 

Maricopa County’s first mail-in only voting ‘overwhelming success.’ “[Recorder Adrian Fontes’ report] analyzed the results from last year’s jurisdictional elections [and] found that changing all the ballots to mail-in did not affect turnout. ‘The elections department views that as a success: Voters were offered a new method of voting, and they used it…’ ” KTAR. http://bit.ly/2G85anZ 


Rose Law Group affiliate, further commits to Elder Care Concierge Program, names Mary Hamway director. Longtime Paradise Valley professional Mary Hamway has been selected to lead the program as the Director. Paired with manager Catherine Bianchi, former PV Town Councilwoman Hamway will bring significant expertise to the growing Elder Care Concierge Program — a first of its kind program aimed at alleviating the stress related the changing life circumstances relating to aging, or caring for an aging relative.” Rose Law Group Reporter. http://bit.ly/2E4wTFe

Trump slaps steep tariffs on solar panels; ‘thousands will lose jobs’ says Court Rich, Rose Law Group senior partner and director of Renewable Energy Department. POLITICO: “The decision to slap tariffs and other trade restrictions on imports of solar panels and washing machines is being seen as a prelude to coming actions on steel and aluminum imports, as well as a wide-ranging case that aims to punish China for intellectual property abuses.” Court Rich: “[S]olar photovoltaic installation is the fastest growing occupation in the country, yet these [‘ill-advised’] tariffs will stymie this growth and rob thousands of Americans of these good-paying jobs.” Tap through for Court Rich’s complete comment along with the full report from POLITICO. (Plus get this RELATED item from The Solar Energy Industries Association: “President’s decision on solar tariffs is a loss for America.”) http://bit.ly/2DzwvBU

Leaked Trump infrastructure plan would put onus on states. “At a time when many state transportation officials are clamoring for more financial help from Washington, an outline of the president’s infrastructure plan depends heavily on an influx of state and private funds.” Governing. http://bit.ly/2Bn7BiL

Flash points noted in opioid legislation. “State lawmakers begin working Monday on a bipartisan plan that state officials hope will make a significant dent in opioid addiction, abuse and deaths in Arizona… Gov. Doug Ducey signed a proclamation for [the] special legislative session to confront the issue.” Capitol Media Services’ Howard Fischer reports in Arizona Capitol Times that “by calling a concurrent special session, Ducey sets the stage to go from proposal to finished law in three days.” http://bit.ly/2rAjYZ4

Senators seek to head off Grand Canyon University’s goal of returning to nonprofit status. Five Senate Democrats accuse Grand Canyon University (GCU) of trying to avoid regulatory scrutiny, saying that’s the reason the school wants to go back to its nonprofit status,. GCU, owned by Phoenix-based Grand Canyon Education Inc. announced earlier this month its intent to revert back to nonprofit status — a status it held from 1949 through 2004 when it was on the verge of bankruptcy.” More in this capsule summary of a PBJ report in Rose Law Group Reporterhttp://bit.ly/2Gbq1H5

AN ODD VOTE – Phoenix could move its elections to even years, matching federal races. “While the state runs elections in August and November of every even-numbered year, Phoenix holds its [city council and mayoral] elections in odd-numbered years. Some, mostly conservative, council members have tried to move the dates to match the state’s schedule for decades, but the idea has never gained traction — until now. In a surprising 6-3 vote, the Phoenix City Council recently took an important first step toward consolidating elections.” AZCentral. http://bit.ly/2F742Q6

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