The Dealmaker: 11/11/2016

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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.
Maricopa rising, retail lagging. At Maricopa’s “State of the City” address, a panel composed of some of the Valley’s heaviest hitters discussed the city’s outlook for growth, home buying, retail, infrastructure and more. Rose Law Group Social Media Coordinator Callan Smith was there and has coverage of the event, at Rose Law Group Reporter.

Casa Grande may partner with new greenhouse-energy plant; Court Rich, Rose Law Group Senior Partner & Director of Renewable Energy Department calls it ‘a truly unique project on many levels.’ Casa Grande Dispatch: “nFlux [Energy Products based in Phoenix] plans to develop 300 acres near Rodeo and Burris… into greenhouses that would produce tomato crops…. [N]atural gas from a pipeline would be processed and converted into electricity, heat and carbon dioxide that would be piped into its greenhouses to enhance plant growth.” Click through for the full report, plus more from Court Rich on what “could be a model for future competitive supply of power at low prices to communities around Arizona.”

Donald Trump’s transition team: We will ‘dismantle’ Dodd-Frank. In a “brief note on [a] new website [President-elect Trump] promis[ed] to ‘replace it with new policies to encourage economic growth and job creation’ but provid[ed] few details….” However, a GOP “wish list of changes” may offer some clues. (BTW, after predicting and then winning an election that no one thought he could, who on earth would be foolish enough now to doubt that he could also pull this off?) See the story in The Wall Street Journal.

Housing affordability slipped even as rates slid. “Home price appreciation… offset a small decline in rates and the NAHB/Wells Fargo Housing Opportunity Index (HOI), a measure of housing affordability, moved slightly lower.” For a full breakdown including median income figures for the nation’s most/least affordable housing markets, head to Mortgage News Daily

The affordable housing crisis is a rural issue, too. “Statistics paint a grim picture… The rural poverty rate… is roughly three percent higher than urban areas… [N]early one in seven households earn… less than $15,000 per year…. [A]bout 50 percent of poor rural Americans have housing expenses that exceed half of their incomes.” looks at the problem — and the “help” that may be “on the way.”

What’s behind a sudden foreclosure spike. And could this “curious” October jump in foreclosures actually be, as CNBC’s Diana Olick suggests, “the first sign of a crack in the recovery”? Read her report (and get the numbers for foreclosure activity in Arizona), here:

Expect busier months ahead in real estate. “The housing market remains strong this fall, and it’s poised to remain that way for the rest of the year, notes Jonathan Smoke,®’s chief economist. Still, the economy and housing inventory woes may present some challenges in the months ahead.” Much more Smoke, at REALTORMag.

Home owners get more realistic on prices. “This is the fourth consecutive month the index has moved closer in line between home owner and appraiser estimates on values.” Click through to REALTORMag  for figures from the latest Quicken Loans Home Price Perceptions Index.

To all who have served our country, on this Veterans Day we say 
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!
State Supreme Court rules state retirement plan law unconstitutional. You’re told you have to contribute “just 7 percent “ to your retirement plan. But then the state comes along and “unilaterally [boosts it] to 10 percent” and then, later, to “13…” According to the state’s high court, this is unconstitutional, “even if lawmakers said that [doing so] was necessary to maintain the financial stability of the pension fund.” Capitol Media Services’ Howard Fischer has more on the ruling, which includes “a stinging dissent from Justice Clint Bolick,“ in Arizona Capitol Times.

LET”S MAKE A (WATER) DEAL – Arizona cities cut deal to store more water in Lake Mead. “The deal [between water officials in Phoenix and Tucson] is intended to keep the water level in Lake Mead high enough to prevent the federal Bureau of Reclamation from declaring a water shortage that would require states to reduce their withdrawal of water from the lake…” Find out how they plan to do it, in Las Vegas Review-Journal.

HEALTHCARE DOT GONE? – Ducey says Obamacare needs to be replaced before it’s eliminated. “‘We know that Obamacare isn’t working, we know that it’s badly broken and in need of improvement…’ But [Gov.] Ducey said any solution has to be about not just repeal but replacing it with something.” And what, if anything, in the Affordable Care Act does the governor think “should [probably] be preserved”? Find out in this report from Capitol Media Service’s Howard Fischer, at Arizona Capitol Times.

Renaissance Square wins The Outstanding Building of the Year Award Read more

Broadstone Sixteen 75 Sold for $60 Million Read more

Greater Phoenix Retail Anticipates Strong Fourth Quarter After Soft Summer MonthsRead 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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November 2016