The Dealmaker: 12/19/2016

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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.
Tierra Verde development tied to Rancho Mercado. “[I]n the northern reaches of Surprise… Tierra Verde West, northwest of 155th Avenue and the Happy Valley Road alignment, is planned for 237 lots and would offer two housing choices….” Check out a “vicinity map” of the project, and find out what “conditions” have its developer [‘Voyager Properties’] “inexorably tied to [Rancho Mercado developer] William Lyon” — at YourWestValley.

Maracay Homes purchases 93 lots in Goodyear for $3.8 million. “Maracay… closed… on [the] purchase… for courtyard cluster single-family detached homes in the Rio Paseo Cottages community on West Encanto… north of Interstate 10…” Details at Real Estate News Daily, including “a completely new floor plan series [that was designed] to appeal to the unique preferences of today’s Millennials, Gen-Xers and Baby Boomers.”

THE SHARING ECONOMY – City, county to share cost of road study around Lucid Motors plant. “Pinal County and the city of Casa Grande are planning to share the costs of a $534,000 design study on improvements to Thornton Road. The road is expected to see more usage… as Lucid Motors… starts building a manufacturing plant near the intersection of Peters Road.” Click through to Casa Grande Dispatch to find out how they plan to divvy it up.

Trump win makes it tricky to foresee path of housing market. The Wall Street Journal looks at how “[i]mmigration changes could hurt” the market while “reduced financial regulation could help.”

This is the ‘big unknown’ for housing in 2017. “Wednesday’s… rate hike from the Federal Open Market Committee brings to light a new question for 2017: What will it mean for first-time homebuyers?” Kelsey Ramirez explores, in HousingWIre. (This report also includes a brief but spirited discussion in the comments section regarding the “quality and character of construction.” Check it out.)

HAMP to be replaced with ‘Flex Modification.’ “Freddie Mac and Fannie Mae announced a new foreclosure prevention program that will roll out next year to replace the Home Affordable Mortgage Program (HAMP), which expires at the end of this month. The new program will be called “Flex Modification.” (FLEXMO?) “It reportedly will provide a 20 percent reduction in mortgage payments for eligible borrowers.” More at REALTORMag.

Cameron’s $5M + deals of the day –

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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!
Designer selected for Tempe streetcar; project expected to be completed in 2020. (Too bad KTAR didn’t have some fun with the headline and instead go with something a little Tennessee Williams-esque, e.g., “A Streetcar Names Designer.” Oh well…) According to the report, “Valley Metro Rail Board of Directors selected Stantec Consulting Services for design work,” and “Tempe Mayor and Valley Metro Rail Board Chair Mark Mitchell” weighs in on the selection for the “$177 million… project.” —>

WAIT & SEA – Delayed Colorado River deal will likely fall to Trump administration to finish. “Now that Jan. 20 deadline no longer seems achievable [to ‘finalize a deal to use less water from the dwindling Colorado’]… managers of water agencies in California, Arizona and Nevada… acknowledge they likely won’t be able to finish an agreement until at least several months into President-elect Donald Trump’s administration.” The Desert Sun looks at how the “deal is being held up by complications… and one of the major sticking points is the Salton Sea.”

DOIN’ THE DUCEY-DOUGH – Ducey partners with Airbnb to make home sharing easier in Arizona. “The partnership connects Airbnb with the Arizona Department of Revenue, in which the home-sharing company will electronically file and pay the state and local transaction privilege taxes…” Find out how customers, state/local governments, and the ADOR all stand to benefit from this partnership; and read why Gov. Ducey touts it as a “signal to entrepreneurs… that Arizona is a state that empowers innovative companies like Airbnb to set up shop and expand their operations” — in Phoenix Business Journal. The Dealmaker by Belfiore & Rose Law Group on Facebook

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