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The Dealmaker: 11/23/2016

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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.
Court panel refuses to halt South Mountain Freeway work during appeal. “[T]he Ninth Circuit rejected a request [from ‘Protect Arizona’s Resources and Children’ or PARC] to halt construction until it rules on an appeal of… [an] August decision that turned away all arguments… to stop the freeway.” Ahwatukee Foothills News reports that “PARC President Pat Lawlis wrote on the group’s Facebook page, ’I admit I am depressed about this…’” (Naturally — but not half as “depressed” as hundreds of thousands of commuters would continue to be, stuck in bumper-to-bumper for hours each day, should Lawlis eventually prevail in shutting down freeway construction.) http://bit.ly/2gBBp5f

Fiesta Mall area won’t go quietly into oblivion. East Valley Tribune looks at the “[o]nce… powerful draw for shoppers and diners [that] now features empty storefront after empty storefront, with a handful of remaining businesses desperately hanging on,” and how Mesa is trying to “turn [the] area from blight to success.” http://bit.ly/2fRQwq0

Supervisors delay Monsanto vote after public outcry. “Opponents… were hoping that the board would shoot down the deal [for the 7-acre greenhouse to be built on a 155-acre parcel near Marana]… They didn’t get that, but the supervisors did unanimously decide to delay consideration of a property-tax plan…” (which, just for grins — and  if not too flippant — can we refer to it as “GMO seed money”?) More on the controversy at Arizona Daily Star. http://bit.ly/2f7b5j5

October’s existing home sales best in a decade. “[S]ales transactions that include single-family, condo, townhouse, and coop apartments were up 2.0 percent to a seasonally adjusted annual rate of 5.60 million units.” NAR’s Chief Economist Lawrence Yun: “October’s… gain… can be attributed to the release of the unrealized pent-up demand that held back many… because of tight supply…” More from Yun, plus Jann Swanson breaks down the numbers by region — in Mortgage News Daily. http://bit.ly/2gmn4GU

Home prices dip as buyers and sellers head into the holidays “Median prices dipped 1.3% in October… Despite the price drop, sales still fell 8.2% to about 446,000 in October from September…” Clare Trapasso breaks down median sales figures nationally — and by region — in Realtor.com. http://bit.ly/2frVnh1

DODD-FRANK: A DUD, FRANKLY? – Congressional chairman: ‘Dodd-Frank was a grave mistake.’ “It was based upon faulty principles, faulty premises and faulty policy. Dodd-Frank failed to establish financial stability, or make us more free, or create a sense of financial security, and so it failed to generate growth, jobs and prosperity…” That from House Financial Services Committee Chairman Rep. Jeb Hensarling (R, Texas) in remarks delivered at the Housing America’s Families Forum in Dallas. Much more on this event in Brenna Swanson’s coverage at HousingWire. http://bit.ly/2gBus4b

Cameron’s $5M + deals of the day – http://bit.ly/2fpfdq1
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!
Rose Law Group Litigation attorney Evan Bolick talks to ‘Money’  about student loan debt. “MONEY… found three borrowers who needed guidance on repaying their loans and matched them with experts: a financial planner, a student debt counselor, and a lawyer who specializes in student loan laws.” Check out the advice they gave to Evan Bolick, who “is trying to make progress on [‘about $125,000’ that he still owes] while also paying a mortgage, saving for retirement, and contributing to his children’s college fund.” —> http://bit.ly/2g4cnse

Arizona Diamondbacks ‘deeply offended’ by stadium group claims on nixed Chase Field sale. “Milwaukee attorney Martin Greenberg wrote the county Monday terminating Stadium Real Estate Partners potential purchase of Chase Field…. Greenberg said that lack of cooperation [by the D-backs, ‘who have veto power over a sale’] was one of the reasons the stadium group ended its bid…” For the D-backs full response to the thrown shade from Greenberg, click to Phoenix Business Journal. http://bit.ly/2fRSiHZ

Arizona quarter GDP hits record high; beats U.S. GDP growth. “[Up] 23.4 percent since the darkest days of the Great Recession. The $296.6 billion GDP for Q1 2016 was a 3.5 percent gain over Q1 2015. The U.S. economy grew 3.3 percent over that same period. The state’s GDP was up 0.8 percent from Q4 2015, double the U.S. quarterly growth of 0.4 percent from the fourth quarter.” And one notable “driver for the increase”? Find out in Eric Jay Toll’s report for Phoenix Business Journal. http://bit.ly/2gBzj5o

Committee chairs, GOP members announced for Arizona Legislature. For the Arizona Capitol Times’ complete list of House & Senate committees and member composition, along with who’s Chairing this and who’s Vice-Chairing that, click it—> http://bit.ly/2ghzqmc

SUDDEN DEATH: OVERTIME – Judge suspends rule expanding overtime for millions of workers.  A federal judge in Texas issued a nationwide injunction on Tuesday against an Obama administration regulation… [that] was scheduled to take effect on Dec. 1. It would raise the salary limit below which workers automatically qualified for overtime pay to $47,476 from $23,660. Details plus access to the judge’s complete ruling, in The New York Times. http://bit.ly/2gBDXAy

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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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, data breach/privacy law, 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.