The Dealmaker: 11/1/2016

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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.
Rusty Lyon, the mall developer who changed the way Arizona shopped, dead at 86. “People who worked with Lyon remember him as a kind and friendly man who was often the smartest person in the room,” pens Catherine Reagor, whose piece in the The Republic looks back on the life and career of this “visionary developer who saw metro Phoenix’s growth coming and launched most of the area’s most popular malls.”

Construction unemployment rates improve in 32 states. AZBEX looks at the results from the “analysis released Monday by Associated Builders and Contractors (ABC).” So how’s Arizona doing? Click through to “[v]iew states ranked by their construction unemployment rate, their year-over-year improvement in construction employment and monthly improvement in construction employment.”

East Mesa golf community homeowners take destiny by the horns: Course purchase may be lesson for others. “Threatened by the sale of their 27-hole public golf course, about 400 of the approximate 2,430 Sunland Springs homeowners banded together and bought it from owner Farnsworth Companies in January for $1.19 million.” And now these homeowners plan to build some condos and a strip mall on the course. Joking. Details of the deal, in East Valley Tribune.

Pollack: Arizonans more confident in state economy since 2007. But before delving into Arizona’s “confidence,” the Monday Morning Quarterbackhands out the horrifying facts surrounding the Affordable Care Act, and then asks the timely question, “How’s that for a scare?” U.S.: Jobless Claims, Real Gross Domestic Product, Decline in Consumer Confidence, Consumer Sentiment Index, Manufacturers’ New Orders, S&P/Case-Shiller National Home Price Index. AZ: Unemployment Claims, Consumer Confidence – Residence of Maricopa County vs. Pima County [See Chart], Case/Shiller index for Greater Phoenix.

2 kinds of homebuyers are driving a surge in home sales. “According to the [National Association of Realtors] annual profile of homebuyers and sellers, published on Monday, 17% of first-time homebuyers are single women. That’s more than double the rates for single men…. [And, the] number of first-time buyers increased to its highest level since 2013. NAR’s chief economist Lawrence Yun weighs in on this “rebound” of “first-timers and single women’ — at Yahoo Finance.

Buyers in the West drive home sales up in September. CNBC’s Diana Olick looks at why home sales are “flying off the shelves… out West,” despite “some of the lowest inventory in the nation and the highest prices.”

A ‘State of the City’ Address, City of Maricopa; Growth & Opportunity Abound for Retail, Homebuilding & More. When we posted this invite last week, we overlooked a significant starting-time misprint: The event gets underway with a HAPPY HOUR at 4:30 p.m. NOT 4:30 a.m., which would be wayyy too early, even for those with huge drinking problems. So, once again, for RSVP info — (actually, for the ENTIRE invitation, complete with date and correct starting time) — click here:

Dealmaker BONUS: Attendance has its privileges: Hang out with Warhol, Miro and Picasso this Saturday. “Purchase any ticket to The Bentley Scottsdale Polo Championships: Horses & Horsepower this Saturday and be automatically registered to bid at the Valley’s most interesting live art auction.” Learn more here:

Cameron’s $5M + deals of the day –

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!
Superior Court sides with Scottsdale in athletic club eminent-domain case.“[The] lawsuit against a local tennis club owner [Robert Hing] who refused to sell [1.5 acres of vacant land near Indian Bend and Hayden] for [use as] a fire station is headed to the Arizona Court of Appeals after a… judge ruled that Scottsdale can take ’immediate possession’ of the land.” However, AZCentral notes the following possible monkey wrench: “While the court rulings represents an early victory for Scottsdale officials, the judge also suggested Hing’s property is worth more than the city had offered based on its appraisal.”

Early voting trends feed Democrats’ hope of splitting Arizona Senate. “The strong showing for Democrats, coinciding with a depressed turnout for Republicans… creates a combination of circumstances vital for Democrats if they hope to make gains at the Legislature.” For some “[u]nofficial early ballot return” numbers, along which Legislative Districts Dems must win in order to “split the chamber,” click through to Arizona Capitol Times.

Arizona Dems seek court order blocking voter intimidation. Can attorney Mark Ellis back up claims of “planned voter intimidation [and ‘suppression’] tactics by the Republican Party and the Trump campaign”? Or are these allegations [lodged in a suit filed yesterday ‘in U.S. District Court’]  without merit because, as GOP attorney Tim LaSota maintains, “the stuff we’re talking about is legitimate poll-watching efforts”? Capitol Media Services’ Howard Fischer looks into it, in Arizona Capitol Times.

If Prop. 205 passes, Arizona would get a department of marijuana; Ryan Hurley, Director of Rose Law Group’s Medical Marijuana Department, calls the agency ‘the most streamlined way of handling licensing and registration.’ The official name of the agency? “The Department of Marijuana Licenses and Control [a name which doesn’t exactly evoke “PARTY TIME!”] “[It] would be tasked with setting up rules and regulations [and] would also take over regulating medical marijuana…” More about this new agency (and more from Ryan Hurley) at Arizona Capitol Times.

Demand for Industrial Space Fueling New Construction Read more

New 6,500-Square-Foot Co-Working Space – 1951@SkySong – To Open At SkySong, The ASU Scottsdale Innovation Cente Read more

Mesa Master-Planned Community Cadence at Gateway Launches With First Builder – Lennar Homes 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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November 2016