The Dealmaker: 11/18/2016

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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.
Details of Monsanto deal with Pima County are released. “Land near the intersection of Twin Peaks and Sanders roads near Marana is where Monsanto’s 7-acre automated corn-growing greenhouse would be built. After months of private negotiations, the details of the county’s deal with agribusiness giant Monsanto are now public.” Read about the details — we were tempted say “get the details on the details” — at Arizona Daily Star. http://bit.ly/2foCSYF

Homebuilder sentiment holds steady, could change. NAHB Chairman Ed Brady: “‘With most of our members responding before the November elections, confidence levels remained unchanged [at 63] as they awaited the results…’” Get scores for the “index’s three components“ along with regional numbers, at CNBC—> http://bit.ly/2gqWdx6

Economists forecast a ‘Goldilocks’ housing market (with a few caveats).At Pacific Union International’s annual Real Estate Economic Forecast: Bay Area to 2019, economist John Burns “described the national housing scene as ‘…not too hot and not too cold… It’s the economy that matters the most and it’s doing great…’” But, as is noted in the subhead of  Gill South’s coverage of the event for Inman: “Changing buyer attitudes and rising interest rates will have to be factored into the equation.” http://bit.ly/2fDtzaf

Housing starts explode to 9-year high. “[H]ousing starts skyrocketed, rising 25.5 percent above September’s level to a seasonally adjusted annual rate of 1,323,000 units.” For a full analysis — including a breakdown of permit/start activity by region — navigate to Jann Swanson’s report at Mortgage NewsDailyhttp://bit.ly/2fMDbwT

[IN-DEPTH] 3 overlooked trends will have major impacts on housing.  Mortgage News Daily’s Jann Swanson is one busy columnist! In this piece (in-depth, no less — complete with charts & graphs — 11 exhibits in all! ), she explores what Freddie Mac’s Chief Economist Sean Becketti identifies as “three long-standing trends [that ‘will shape the future of housing’]: increasing income inequality, the increasing role of land costs in housing prices, and increasing land use restrictions.” http://bit.ly/2g3XRDz

Is the seller’s housing market finally over? In answer, US News real- estate editor Devon Thorsby teases, “A little yes, a little no.” Her report looks at how “in some regions of the country and at certain price points, there are signs of shifting.” As a bonus, Jonathan Smoke, chief economist for Realtor.com offers some clarity on the best time to buy. http://bit.ly/2fc27Qk

Cameron’s $5M + deals of the day – http://bit.ly/2gqXftd

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!
Tesla-SolarCity merger ‘overwhelmingly approved.’ From a “Breaking News” report in Greentech Media: “By joining forces, the companies can offer a seamless home solar plus storage solution, featuring SolarCity and Tesla’s new ‘beautiful’ solar roof technology and the [energy storage product] Powerwall 2.0.” Further details in Greentech, including Telsa CEO Elon Musk on the start date for “volume production of the solar roof” along with how much it will cost. Read now—> http://bit.ly/2foGl9n

Coyotes’ Tempe plan leaves Westgate in limbo. Cronkite News on what could be in store for “businesses surrounding the [Gila River Arena] in Westgate” should “the Coyotes [be] successful in moving to Tempe at the end of the decade.” Says one area restaurateur: “Well, obviously it’s a big blow… Not just us, but every retail and restaurant tenant in here.” But will the move actually happen? See Newsmaker item below. http://bit.ly/2f80UpJ

Key lawmakers question Coyotes’ strategy for financing new arena. “The… Coyotes want taxpayers to pay for half of planned arena… [which] would require the Legislature’s approval.” But, as Arizona Capitol Times reports, Sen. John Kavanagh, R-Fountain Hills… said there just isn’t enough money to go around,” while Speaker-elect J.D. Mesnard, R-Chandler predicts, “I know they’ll make the economic engine argument and how this is going to be a boon for this and that, but we hear those time and again.” Coyotes President and CEO Anthony LeBlanc CEO Anthony offers  a bit of pushback to all the arena buzzkill. But will it be persuasive? http://bit.ly/2go195e

Arizonans continue to lose ground when it comes to income. Capitol Media Services’ Howard Fischer reports that “[n]ew figures Thursday from the U.S. Bureau of Economic Analysis show the state’s per capita personal income for 2015 at $39,156. That’s an increase of just slightly more than 3 percent from 2014.” Find out where we rank compared to the rest of the country, at Arizona Daily Starhttp://bit.ly/2f8aclx

Los Angeles builders say new affordable-housing rules will stifle construction. But isn’t “stifle” putting it a bit lightly? If cities are going to force developers to make “25% of units in rental properties and up to 40% in for-sale projects” affordable (like L.A. is doing), wouldn’t it have been better if the WSJ described potential impact on construction with something like: destroy, torpedo, wipe out, or deep six, etc.? In any event, this report looks at how “cities around the U.S. are turning to so-called inclusionary zoning programs to ensure developers set aside housing units for residents who couldn’t otherwise afford to live there; how these programs are being “hailed by advocates”; and how such rules are going to totally @#^% up development (our descriptor). http://bit.ly/2foO8Eb

Breakthru Beverage Facility in West Phoenix Sells for $33.5 Million Read more

Cambria Hotel & Suites Groundbreaking at Chandler Viridian Read more

Camelot Homes purchases 7.54 acres within McDowell Mountain Ranch 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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