The Dealmaker: 10/07/2016

Scottsdale: economic development breakfast highlights outreach efforts. Scottsdale Independent’s Melissa Fittro covers yesterday’s “sold-out Economic Development Breakfast program” where “elected officials and other local dignitaries converged… to hear about the city’s latest economic endeavors and projects.” http://bit.ly/2dAqNQx

THAT’S [ALMOST] ENTERTAINMENT! – Survey backing leads Glendale to OK drafting resolution for entertainment district. “City Council gave the go-ahead for staff to come back with a resolution to adopt a proposed entertainment district in downtown… that could allow certain alcohol establishments to open next door to a church or school. Council made the decision after… 56 percent of the 151 stakeholders surveyed backed the .52-square-mile district…” More coverage inYourWestValley. [IDEA: When this entertainment district is finally approved, someone should open up a drinking establishment called “The Glend-Ale House.” And to its future proprietor, we’d just like to say right now: You’re welcome!] http://bit.ly/2dXZZsZ

A view from above Maricopa; Mayor Price’s State of the City. Rose Law Group Reporter Social Media Coordinator Callan Smith gives us a blow-by-blow account of Maricopa Mayor Christian Price’s State of the City Address on Wednesday. Among the many highlights from the mayor’s address that Callan cites in his report: ”The importance of economic development through strategic planning and growth,” “the continuing outreach effort to bring a hospital to Maricopa,” and “the 347 overpass and widening.“ http://bit.ly/2dKTewR

DOWN PAYMENT DISCONNECT – Down payment picture appears brighter than homebuyers think. Investor’s Business Daily compares respective survey results from Redfin and National Association of Realtors. “6 in 10 [real estate] agents surveyed by Redfin… reported that the typical down payment in their market was less than 20% of the home’s purchase price… [while] a National Association of Realtors survey… said at least a third of consumers, especially millennials, expect to pay much more.” http://bit.ly/2dZyrHg

‘SMOKED’ CHICKEN – The real reasons behind America’s housing inventory dilemma. See why Realtor.com’s chief economist Jonathan Smoke calls the “lack of housing inventory… a chicken-or-the-egg dilemma.” As a sneak-peek, here’s the “chicken” part: “Buyers can’t find a home because there aren’t enough on the market (which is also driving up prices)…”  Get the “egg” part here: http://bit.ly/2d0bg9W

A ‘CUT’ ABOVE – U.S. has some of the world’s highest real estate commissions. “Homebuyers and sellers in Sweden and the U.K. typically pay a mere 1.5% to agents, but in the U.S. the number hovers around 5% to 6%, a new ranking shows.” The Wall Street Journal looks into why “U.S. commissions  [have] held up,” while “18 of… 32 nations have seen a reduction… since 2008.” http://bit.ly/2dS0405

Mortgage lending set for best quarter since 2007. “[W]ith a stronger than expected 3rd quarter boosting 2016’s originations, FBR’s analysts are … projecting 2016’s total origination volume to top $2 trillion, an increase from the $1.9 trillion they projected last month….” HousingWIre’s Ben Lane explores what’s behind the 3rd quarter “originations surge.” http://bit.ly/2d06Yzr

Hurricanes’ historical impact on construction. John Burns Real Estate Consulting serves up “a few [hurricane-impact] facts and a chart clients will receive in [its] next ‘Building Products Industry Analysis and Forecast’ report. http://bit.ly/2d92TfI

Hurricane Matthew could inflict $200 billion in damage to coastal homes. And that’s just from all the water! — according to CNBC reportage of a CoreLogic analysis that “does not assess additional damage from wind, which will be sustained in some areas at 125 mph.” http://bit.ly/2d92rxY

The World’s Greatest Polo Party Is Only A Month Away! – http://bit.ly/2dvLKfO