The Dealmaker: 10/07/2016

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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.

 

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

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!
 

AOL co-founder and Revolution CEO Steve Case to make ‘Rise of the Rest’ stop at SkySong during bus tour celebrating entrepreneurs, will meet with Valley leaders, reward local entrepreneur with $100K at pitch competition.“[P]raised by [politicians] and business leaders across the country…. Rise of the Rest’… is a nationwide effort to work closely with entrepreneurs in emerging startup ecosystems, with the belief that this is the beginning of a new era for entrepreneurship… In over two years, [it] has traveled 4,000 miles to 19 cities and invested $2 million in local startups.” Now it’s coming to Skysong, the ASU Scottsdale Innovation Center. [Note: According to this press release, the event is open to the media but not the public.] If you’re Interested attending — or if you just want to learn more — click through to Rose Law Group Reporter or visitwww.skysong.com. http://bit.ly/2dyj8ne 

States with the best, worst representation on Election Day. This WalletHubstudy sets out to find “which of the 50 states’ voters are most demographically representative of their electorates [based on] race, age and gender… employment status, family income, educational attainment and marital status.” How does Arizona and its “Representative Index” of 82.10  compare to other states? Full findings plus expert insight here —> http://bit.ly/2dFCkxE

Most Americans don’t think newspapers should make endorsements. “51 percent… say that newspapers should not endorse political candidates. Just 24 percent believe that they should, while the rest are unsure…. according to a new HuffPost/YouGov survey.”  [Meanwhile, in a fake but related study, 89 percent of gadget-loving millennials who were polled responded to survey questions by asking, “What are newspapers?”]. Full [non-fictional] survey results here: http://bit.ly/2dS2koc

How U.S. workers feel about immigration now split even more widely by political party. The Wall Street Journal looks at results from a new Pew Research Center study. “The Pew report also looked beyond immigration and examined how the U.S. economy is increasingly demanding skilled workers.”  http://bit.ly/2d93vlo

Posting political signs in the window is your right — isn’t it?  New York Times’real estate columnist Ronda Kaysen explores First Amendment protections for homeowners vs. “people living in condos, co-ops and privately owned rental buildings.”  http://bit.ly/2dY22NE

[SATIRE] New study finds most of earth’s landmass will be Phoenix suburb by 2050. What more is there to say other than: The Onion. It’s a quick read. And it’s funny. Extremely. http://bit.ly/2dkAhOc

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Western Wealth Capital of Canada Buys Multifamily Property Near ASU for $17 Million Read more

Home sales data not readily available nor captured on a timely basis; real estate consultant Jim Belfiore comments Read more

Two new hotels coming to Gilbert 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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