The Dealmaker: 12/12/2016

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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.
[LETTER TO THE EDITOR] Bravo, Phoenix City Council for call on historic Wright House. (Disclosure: Rose Law Group represents Peter Sperling, Jim Furcini and Andy Ogan in preserving the residential historical character of Arcadia.) In her Republic shout-out, ACA/Preserve Arcadia Neighborhood Group member Sue Bloom explains why preservation advocates “consider the Phoenix City Council’s action on the withdrawal of the… application for HP Landmark designation for the David Wright House to be a victory.”

Explosion of homes in north Peoria could affect school enrollment. “[N]umbers from Belfiore Real Estate Consulting [show four] of the five most active housing developments in the city are north of Union Hills… and closings are up 9.1 percent….” This report in YourWestValley looks at how “city and school officials are keeping a close eye on [the] influx… since two ballot measures — one to fund more schools and one for amenities in the growth area — failed in November.”

More money in home owners‘ pockets, but not in Arizona. According to  the new CoreLogic Q3 2016 Equity Report, “[m]ore homeowners are gaining equity and climbing out of negative territory.” See the states with the highest percentage of homes with positive/negative equity, plus get the link to the complete CoreLogic report, at REALTORMag.

Rising mortgage rates could threaten housing demand in 2017. “Sustained increases could lead to ‘rate lock,’ leaving some homeowners reluctant to trade up or down.” Economists from Redfin, Black Knight and Nationwide Insurance weigh in on the higher-rate forecast, in The Wall Street Journal.

Home Builders release 2016 ‘priced out’ estimates. “2016 ‘Priced Out’ Estimates show… that… a $1,000 increase in the median new home price [thanks to added regulation] will leave 152,903 households priced out of the market.” For a brief overview of the “priced-out model,“ and/or to access NAHB’s complete “Economics” report on “[g]overnment regulations [and their] impact on housing affordability,” click to Eye on Housing.

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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!
The best and worst run states in America, a survey of all 50; See where Arizona ranks.24/7 Wall St… review[s] the outcomes and conditions of every state in the country, ranking each based on finances as well as social and economic indicators [i.e., debt per capita, unemployment rate, credit rating, poverty].”

10 crucial decisions that reshaped America. POLITICO’s chief political correspondent. Glenn Thrush gives us “[t]he inside story of the pivotal choices that got us to President Trump.” A great read!

Is the American Dream dead? Yes it is — “[IF!] the American dream is defined as earning more money than your parents.” USA TODAY business reporter Nathan Bomey looks at results from a new study that show “[o]nly 50% of people born in the 1980’s are making more than their parents, compared to 90% of children born in 1940…” Where are the “largest declines”? What “states are holding up better” than others? What is the main“ reason… many young people are left behind”? Find out here—>

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Madera Court Apartments in Phoenix Sell for $36.25M Read more

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

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