The Dealmaker: 11/28/2016

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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.
Phoenix struggles to manage its vacant city-owned lots.The Arizona Republic spent more than a year investigating the city’s land-management practices.” Among the key findings: “The city doesn’t keep track of how much vacant land it owns… Hundreds of those lots have sat idle for more than a decade, some with no use planned… Vacant city-owned lots often are a nuisance for nearby homeowners and businesses…” For a map of the vacant lots, plus more on why “many say [Phoenix’s] approach to managing its land needs a complete overhaul,” click it

SPEAKING OF ‘SITTING VACANT’… Council to interview two more city manager candidates Dec. 8. “John Kross, town manager of Queen Creek, and James V. Thompson, former city manager of Casa Grande, are additional candidates who will be considered for Scottsdale city manager. They [along with three others] will be interviewed…” But will “the council extend a job offer”? Or will the position remain vacant for a 19th straight month? Rose Law Group Land Use Lawyers say they know both of these two from Pinal County work very well…Interesting that Scottsdale once again is pulling from Pinal County Managers to fill their position (recall Fritz Behring was the Pinal County Manager). Stay tuned! — and, in the meantime, check out the brief bios for all the candidates in Scottsdale Independent

Pollack: Shortening things up. A shorter than usual edition of The Monday Morning Quarterback due to “only 3 working days last week.” U.S.: Manufactured Durable Goods, Consumer Sentiment Index, Existing & New Single-Family Home Sales. AZ: The FHFA Home Price Index.

Federal mortgage loan limit increased in metro Phoenix. “Starting in 2017, borrowers can get a loan backed by mortgage giants Fannie Mae or Freddie Mac for… about $7,000 more than the previous limit, which has been in place since the housing crash.” For the new loan-limit figure along with what’s behind the increase, click to AZCentral.

New home sales backing down from recent highs. “[S]ales of newly constructed homes in October were…1.9 percent less than in September but 17.8 percent higher than in October 2015.“ For “[t]he median price of a new home sold during the month,” along with a breakdown of sales by region [only one of which saw “strong gains for both the month and the year”], see Jann Swanson’s report in Mortgage News Daily.

What we have to be thankful for in housing. “It’s a good time to be in the real estate business,” according to REALTORMag. Here are the five things it says we should be grateful for: (1) The improving economy (2) Powerful buying forces (3) Dwindling foreclosures (4) New-homes in the pipeline (5) Drones. Details here—>

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!
[IN-DEPTH] Trump win churns U.S.-Mexico water talks. “[B]oth nations are hustling to finish a new agreement for sharing water from the Colorado River… Farmers and cities in Arizona and Nevada could face their first cuts in water supplies a year from now, just as the existing agreement ends.” As Politico’s Annie Snider reports, “[t]he fear is not only that [a President] Trump… could derail any potential deal, but that even turning the talks over to new negotiators would stall the process at a critical moment…”

My experiences with suicide. With the acknowledgment that “[w]riting about gloomy things during the holiday season is difficult,” Senior Reporter/Writer Phil Riske shares his personal experiences on the “self-taking of life…[that] pushes [him] to continue to make public this social and health epidemic.” In Rose Law Group Reporter.

A look at Steve Bannon and his years at Harvard Business School. From “working-class roots” and “Democratic family,” to an “Ivy League” education and the relationship-building stints at Goldman Sachs and Breitbart — Boston Globe political reporter Matt Viser fills in details on Bannon’s rise, in this profile of the man who will “soon occupy the… perch” as “[President-elect] Trump’s chief counselor and strategist.”

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