The Dealmaker: 11/10/2016

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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.
How President-Elect Trump will change the U.S. housing market. “Could Trump make the housing market ‘great again’ for buyers?… Adios, Fannie Mae and Freddie Mac?… Hit the road, Dodd-Frank?…”’s Clare Trapasso looks at what could be in store, both short term and long term, under President Donald J. Trump.

Industry experts forecast economy and housing market under Trump.  Redfin’s Chief Economist Nela Richardson,’s Jonathan Smoke, Trulia’s Ralph McLaughlin, Windermere’s Chief Economist Matthew Gardner and others — see what they have to say to Inman in the wake of the election “shockwave [that] resonated around the world,” and if there’s any reason for freaking out. In a RELATED Wall Street Journal piece: ‘YOU’RE FIRED… UP!’ – Donald Trump’s plans fire up construction stocks. “[E]lection-night focus on boosting spending on domestic infrastructure drove a rally in construction-related stocks Wednesday…” Access both reports here—>

Worst day for mortgage rates in more than 3 years.“Over the past decade, you can count single-day eighth-point moves without using any toes. Some lenders were a quarter point higher, which has only happened a few times, ever. The source of the drama is the market’s paradoxical reaction to Trump’s victory.” Best-Execution Rates, Ongoing Lock/Float Considerations, plus Loan Originators talk about being blindsided by the Trump victory, and whether or not “the broader uptrend in rates will continue” — in Mortgage News Daily.

What’s hampering buyer, seller confidence. “[T]he net share of consumers expecting home prices to rise in the next year decreased… Americans who say mortgage rates will drop and those who are confident about not losing their job both showed decreases…” More on these and the other recent “findings from Fannie Mae’s HPSI,” at REALTORMag—>

Young, first-time home buyers will drive 2017 existing-home sales.“[B]ut,” according to this MarketWatch report featuring forecasts from NAR’s chief economist, Lawrence Yun, “a shortage of new entry-level homes will keep inventory tight and prices high…” Further details here:

Dealmaker Continuing Election Coverage:

DITCHING: SCHOOL, TRUMP – Protests, other reactions to Tuesday’s election. AZCentral reports on the “[h]undreds of Phoenix high school students [who] walked out of class Wednesday to protest the election of Republican President-elect Donald Trump, [and the] thousands of students in California, Colorado, Washington and Iowa who did the same.”

Maricopa County Recorder Helen Purcell staying close to challenger.Head to KTAR to the latest returns from her race against Democratic challenger, Adrian Fontes.

Pinal County Sheriff Paul Babeu mum on plans after leaving office.“While Babeu doesn’t know — or isn’t saying — what his plans are [after losing a congressional bid and leaving office as sheriff], he would seem to have some options.” See what those options are, here:

Arizona AG to investigate spending by minimum-wage advocates Yes on 206. “[The] complaint [alleges Yes on 206] illegally spent money campaigning for and against specific legislative candidates as well as supporting Prop. 206.” But is “a ballot measure committee [limited to] spend[ing] money [only] on that ballot measure and [not] on candidates”? Click through to AZCentral to see what both sides have to say, and to find out how much it could cost Yes on 206 if it, in fact, it did violate a law. (Hint: Under the state’s new minimum, Yes on 206 would have to work 10,000 hours to come up with enough to pay the fine.]

Giant desert development on hold in Arizona. “In a narrowly defined ruling, the Arizona Court of Appeals on Tuesday vacated and remanded the Arizona Department of Water Resources approval of [Pueblo del Sol]… a 6,900-home development in Sierra Vista, near the last free-flowing river in Southern Arizona…. The narrow ruling, though, certainly gives the developers [Castle & Cooke] hope.” Find out why, in this report brought to you by Courthouse News Service.


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!
Campaign bluster or commitment, fiddling with NAFTA would plunge Arizona into deep recession. Sen. John McCain… Tucson Hispanic Chamber of Commerce president, Lea Marquez-Peterson… BMO Wealth Management’s Jack Ablin… Jim Rounds, president of Rounds Consulting Group — all  share their views on the potential fallout from “pulling out [or] ‘renegotiat[ing]’ the North American Free Trade Agreement” — in Phoenix Business Journal.

Arizona Legislature elects new leaders: Mesnard, Yarbrough. “The 34 Republicans who were leading in their House races… selected [Rep. J.D.] Mesnard as speaker of the House [‘as expected’]… Senate Republicans elected Steve Yarbrough [R-Chandler] as the chamber’s president, ushering in a new era of leadership with the departure of Sen. Andy Biggs.” — Arizona Capitol Times

Immigration lawyers fear the worst, face anxious clients after Trump victory.“[A]n immigration lawyer in Newark… started getting emails from clients on Tuesday night… [Another] in the heavily immigrant neighborhood of Jackson Heights, Queens… woke up to about 50 client emails… [In Los Angeles, yet another attorney] girded himself for clients worried about Trump’s campaign promises…” Bloomberg looks at how these attorneys are dealing with the “steady stream of [queries] from people anxious about the status of their cases after the election of Donald Trump.”

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