The Dealmaker: 11/22/2016

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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.
Manager says progress made on PhoenixMart is significant. Casa Grande’s economic development manager Richard Wilkie “said he is very confident that the long-delayed… center… will in fact be completed. He said… so much money has been spent on the project that investors are going to want to see it through. ‘That’s really, really good for all of us… Arizona City, Eloy, Coolidge.’” However, Wilkie doesn’t shy away from touching upon a “worst case scenario.” Find out what that scenario is and how the city would handle it should it go down, at Casa Grande Dispatch.

Gaming compact amendment could settle Glendale casino dispute.Arizona Capitol Times: “Kirk Adams, Ducey’s chief of staff, said the proposal gives the Tohono O’odham everything they want regarding the Glendale facility [‘things like card games and slot machines’], and suggested that it could end the tribe’s ongoing litigation against the state.” So why haven’t the Tohono O’odham “jumped on board”? —>

Pollack: A favorable picture. In this Thanksgiving edition of The Monday Morning Quarterback, “news shows that there is a lot to be thankful for.” U.S.: Unemployment Claims, Retail Sales, Manufacturing & Trade Sales, Total Inventories, Industrial Production, Consumer Prices, Residential Construction. AZ: Unemployment Rate, Employment Growth – Greater Phoenix/Tucson, Housing Permits – Greater Phoenix/Tucson.

Post-recession high set for custom home building. “NAHB’s analysis… indicates… a post-recession high for construction starts during the third quarter of 2016. There were 49,000 total custom starts for the quarter, compared to 47,000 for the third quarter of 2015.” For total custom starts from the last four quarters, plus custom home building market-share along with expected trends, click to Eye on Housing.

Congress hears appeals to fix dysfunctional appraisal system; Adam Martinez, Chairman of Rose Law Group real estate litigation department provides insight. Mortgage News Daily’s Jann Swanson serves up highlights from [a] hearing on “Modernizing Appraisals” where “[s]ix panelists presented more than a hundred pages of prepared testimony” on the system’s “structural flaws,” along with “recommendations” to fix it.  Adam Martinez: “The question… is whether appraisers should continue to be under the heavy federal regulatory scheme and state regulation, or whether the time has come to reduce federal oversight.” (NOTE: Just one look at this article’s “Appraisal Oversight” diagram — which “represent[s] the current regulatory structure” and looks like it could’ve come from the mind of Rube Goldberg — is more than enough to illustrate how dysfunctional the system actually is. Crazy. Click through to check it out, plus read more of what Adam has to say on the matter.)

A SCHNURE THING – Commercial real-estate cycle holding steady, economist says. “Rising interest rates are a concern, but few other signs are flashing warnings, said Calvin Schnure, senior economist for the National Association of Real Estate Investment Trusts during a talk in Phoenix last week.” More from Schnure at AZCentral.

[IN-DEPTH] What does Donald Trump’s infrastructure plan mean for real estate? “[T]he plan will cost $1 trillion and involves building out transportation, water, telecommunications and energy infrastructure across the country.” Inman’s Amber Taufen tackles the plan’s “potential implications for the real estate industry,” and looks at whether it’s likely to “get bipartisan support,” and if it does, whether it will even work.

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!
Planned burns in Arizona, West vital to restoring forests. Arizona Daily Star:“Two recent studies place different emphasis on the primary causes of fire in the mountains of the West, but the researchers who wrote them agree that restoring forests to a healthy state requires more attention to thinning them out and burning when circumstances permit.”

Arizona incomes grew 3 percent in 2015, slightly off national pace. “[A] report last week by the Bureau of Economic Analysis said average income in the state grew to $39,156 — compared to $48,112 for the nation — with growth in every county but Greenlee, which saw a slight dip. Yuma County, meanwhile, posted one of the biggest gains in the nation for a metropolitan area, with a 7.9 percent jump.” Further details including expectations for future income growth, at Cronkite News.

Most students don’t know when news is fake, Stanford study finds. The big takeaway: “82% of middle-schoolers couldn’t distinguish between… ‘sponsored content’ and a real news story.” So if you happen to be reading this and you’re one of these students who’s “clueless about evaluating the accuracy and trustworthiness” of news items, we strongly suggest that you read this WSJ article immediately, so that you can learn what steps to take to make you a little less naive so that you won’t fall victim to such fiction. Plus, by simply clicking through to the article, you’ll get some FREE CASH!

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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November 2016