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The Dealmaker: 12/07/2016

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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.
Homeowner does not have to remove encroaching wall. Introducing a new weekly Dealmaker feature: A Real Estate Q&A from Rose Law Group real-estate litigation-department chairman, Adam Martinez. Catch Adam’s highly informative column every Wednesday, right here —>

The Short Course at Mountain Shadows. “Renowned golf course architect Forrest Richardson, ASGCA, principal of Forrest Richardson & Associates, breathed new life into The Short Course with a complete redesign.” Go hole-by-hole for design details of this “course [that was ‘reinvented’] to be the preeminent par-3… in the country.” And, with a little over two months to go until the course’s debut, it’s probably a good idea to book a tee time for 2017 — NOW!… if any are still available.

New housing development coming to south Peoria. Townley Park [not to be confused with Towelie Park, a fictional recreational venue rumored to be worked into the storyline of an upcoming episode of South Park] will be located on a 10.1-acre site at the “southwest corner of 89th and Olive avenues…. Developer Garrett-Walker Homes has plans for Townley Part to include 40 lots, with open space amenities, and an overall density of 3.96 units per acre.” More on this new single-family housing development — construction timeframe, likely opening date, and a traffic-light concern — in YourWestValley.

Downtown Tucson lands first hotel in 30 years. The eight-story AC Hotel Tucson by Marriott [151 E. Broadway] “will open for business in the summer of 2017.” Head to AZRE for details on the hotel’s “business traveler” design and to see a rather unconventional rendering that depicts the hotel in a nighttime setting. Also, Tucson Mayor Jonathan Rothschild talks downtown’s “massive revitalization” after what he says was “40 years of wandering in the desert.”

‘Potent cocktail’ fueling home prices. According to CoreLogic’s president and CEO Anand Nallathambi, this “cocktail” is a mix “of high demand, low inventories and historically low interest rates…” This Jann Swanson report in Mortgage News Daily on CoreLogic’s Home Price Index for October includes: A look at states with the highest and lowest price appreciation, and the HPI forecast for the year ahead.

CoreLogic HPI up 1.1% in October. In the event you didn’t get your HPI fix from Jann Swanson’s report above, we bring you this take from Builder Online,which features a COMPLETE “Home Price Change by State” list.

Short-term rentals don’t have big impact on rents, experts say. “[H]alf of respondents to the [Zillow] survey said that short-term rentals’ impact [‘on housing affordability’] is ‘meaningful, but small.’” Click through to Inman for more highlights from the survey, including the percentage of experts who said that the impact of short-term rentals (such as Airbnb) “isn’t meaningful” at all.

[IN-DEPTH] 8 experts predict what the 2017 housing market has in store. Steve Cook, editor of Real Estate Economy Watch; Doug Duncan, senior vice president and chief economist at Fannie Mae; Mark Fleming, chief economist at First American; Matthew Gardner, chief economist at Windermere; Svenja Gudell, chief economist at Zillow; Ralph McLaughlin, chief economist at Trulia; Rodney Ramcharan, director of research at University of Southern California’s Lusk for Real Estate; Jonathan Smoke, chief economist at” Check out the ‘fortune telling,’ at Inman

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!
Republican legislative leaders oppose killing state income tax. This is an updated version of a previous report from Capitol Media Services’ Howard Fischer on “[t]he reticence by [Incoming House Speaker J.D. Mesnard and new Senate President Steve Yarbrough] to move toward cutting income taxes” and how that “could put them on a collision course with Gov. Doug Ducey.”

New sheriff eyes police brutality, SB 1070. InMaricopa’s Mason Callejas looks at incoming Pinal County Sheriff, Mark Lamb, and tough issues he’ll face — “a national discourse on police brutality and discrimination [along with] one of Arizona’s most controversial laws [Senate Bill 1070] — when he “takes office in January.”

In news, what’s fake and what’s real can depend on what you want to believe.New York Times’ Sabrina Tavernise explores how “[f]ake news, and the proliferation of raw opinion that passes for news [on sites like Facebook — or maybe it should now be called Fakebook?] is creating confusion, punching holes in what is true, [and] causing a kind of fun-house effect that leaves the reader doubting everything, including real news.”

North Scottsdale Synagogue Purchases $4.2 Million Building From Covenant Community Church Read more

Pete King Construction helps nonprofit provide Christmas gifts to 500 Children, Relatives at PCH Read more

Arizona Builders Alliance Toy Drive to Have Huge Impact on Valley’s Underprivileged Youth 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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December 2016