The Dealmaker: 10/10/2016

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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.
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Getting ‘the look’ [and ‘the Seville’] – 2 property retail portfolio sells for $72.5M.  “The Scottsdale Seville Shopping Center sold for $34,000,000… [At the NEC of Scottsdale and Indian Bend, the] center is… across the street from the upcoming $2 Billion Ritz-Carlton Resort. The La Mirada Shopping Center, sold for $38,500,000… is… at the NEC of Pima and Pinnacle Peak…” Buyer/seller info for the Seville and La Mirada (which in Spanish means “The Look”), at AZRE.http://bit.ly/2e0NiBT

Pollack: Phoenix, Tucson single-family resales doing well. U.S.: Employment & Unemployment, Credit, New Orders & Manufacturing Index, Auto Sales. AZ: The Cromford Report – Total Listings/Sales/Median Prices – Greater Phoenix/Tucson & Maricopa County. In this week’s edition of The Monday Morning Quarterback. http://bit.ly/2e0E8jn

West Valley and Mesa freeway projects competing for funding. “State Route 30 [‘a $1.6 billion project’] would… divert… traffic from [I-10] for… 13 miles through Goodyear, Avondale and west Phoenix. State Route 24 [the $286 million Gateway Freeway] in Mesa would… eas[e]… the drive between the city and the San Tan Valley… where several master-planned housing communities are located.” AZCentral reports that “both [projects]] could…  happen [by 2025], but… one will get priority status to go first.” http://bit.ly/2d7Lq4f

BUBBLE RAP – Home prices heat up: Crisis and opportunity. CNBC’s Diana Olick talks “UBS’ recently released ‘Global Real Estate Bubble Index,’” reporting that a “majority of U.S. markets may not be in so-called bubble territory, but homeownership is becoming increasingly difficult” due to “a growing affordability crisis.’”  And the “opportunity”? The “rising home values are benefiting homeowners who… stay put” and take advantage of “tappable equity.”http://bit.ly/2e8L6I3

Worried about housing? You’re not alone. “Rising mortgage rates, overheating home prices, nothing for sale, pre-election jitters — the list of reasons to lose confidence in the housing market is growing. In fact, the share of consumers who think now is a good time to buy a home fell 5 percentage points in… a monthly housing sentiment survey… by Fannie Mae.” CNBC’s Diana Olick looks at how the “‘decline in the HPSI… adds a note of caution to [Fannie Mae’s] moderately positive housing outlook…’” http://bit.ly/2e8M3QM

HOME/SHOPPING – Dying suburbia malls become housing mecca.“Nearly 300 former malls [around the country] have — or are in the process of becoming — mixed-use developments, and 50 or so are adding in housing…” REALTORMag looks at how ““dead malls and… dead parking lots are the new cheap land.” http://bit.ly/2e0NZLw

Cameron Carter’s $5M Deals of the Dayhttp://bit.ly/2d7PqS6

Dealmaker BONUS: Arizona house among realtor.com’s ‘Doomsdday Digs.’“A castle, a dome [in Yucca, AZ], and an actual decommissioned  missile silo” are among the “seven self-described prepper properties” that Realtor.com “uncovered.”  See them here: http://bit.ly/2dEgY5t

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!
Monsanto could get big tax break to locate in Tucson area. “Biotech seed giant Monsanto and Pima County are negotiating a possible incentive package that would substantially reduce the property tax burden of a planned… greenhouse in the Avra Valley [‘Twin Peaks Road just west of Marana’]…  Monsanto has offered to invest $100 million in the greenhouse and hire 30 to 60 people to work there.” However, the plan faces opposition — not only from “an environmental activist group” and a “tax research group” — but also from most of the folks who’ve left remarks in the comments section of this Arizona Daily Star report. http://bit.ly/2dPexM3

Special legislative session today on Proposed $1.9 billion, 65,000-seat stadium in Las Vegas. “After eight months of presentations, discussions, news conferences, lobbying, arm twisting, strategizing, cajoling and all sorts of arguing, the proposed… domed football stadium finally makes its way to the Nevada Legislature.” However, according to the Las Vegas Review-Journal, even “with all the supermajorities necessary to get the deal done, the stadium proposal isn’t a slam dunk.”http://bit.ly/2dGsU5F

2/3 of Americans don’t think presidential campaign addresses most important concerns. Here at Dealmaker headquarters, we aren’t sure what’s more surprising about this poll (from AP/NORC Center for Public Affairs Research): That “[t]wo-thirds of Americans do not think the presidential campaign is adequately addressing… issues that matter most,” or that one-third of Americans DO think they’re being addressed!  Poll findings at Arizona Daily Independent. http://bit.ly/2e8N8bo

‘Saturday Night Live’ grabs Donald Trump by the hot mic. USA TODAY: “[SNL] mercilessly mocked Donald Trump’s sexually aggressive comments caught by a hot mic in a 2005 tape and poked fun at the Republican nominee’s half-hearted apology…”  In a separate piece, Trump’s campaign manager Kellyanne Conway (played by Kate McKinnon) tries to a take a scheduled “Day Off,” but finds it nearly impossible as she keeps having to make media appearances to do damage control for The Donald. We’ve got the links to both of these hilarious segments, so click it —> http://bit.ly/2dGuHaJ

Mesa Master-Planned Community Cadence at Gateway Launches With First Builder – Lennar Homes Read more

[IN-DEPTH] Home ownership pessimism might be overdone Read more

Western Wealth Capital of Canada Buys Multifamily Property Near ASU for $17 Million 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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Cameron’s $5M + deals of the day

Cameron Carter, Director of Rose Law Group’s Transactional Real Estate Department, thinks you need to know about these transactions in Maricopa County. Price: $27MBuyer:  Tides on 19th Partners, LLC

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