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The Dealmaker: 12/20/2016

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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.
2016: The year the Phoenix economy began to pivot. In this thumbnail “retrospective of 2016,” Phoenix Business Journal’s Eric Jay Toll recognizes the Greater Phoenix Economic Council and the Arizona Commerce Authority and their respective approaches as being key to “Arizona’s recovery and trajectory into positive ground.” http://bit.ly/2hnF1ol

Paradise Valley welcomes first 3-story residential building. “[Mountain Shadows Resort Condominiums] will be located at 5455 E. Lincoln Dr…. [O]wners will have access to… meal delivery… housekeeping… valet and concierge… fitness facility… and views of Camelback.” And, based on the impressive rendering of this Westroc Hospitality and Woodbine project, residents can also (apparently) expect quite a bit of early morning, poolside socializing. Check it out at AZRE and note sunlit Camelback Mountain, and then judge for yourselves if it doesn’t evoke dawn’s early light. (Also get pricing and floor-plan info, which is way less disorienting.) http://bit.ly/2h6V3FD

Sections of Surprise downtown parcel coming into focus. “Mattamy at Surprise Center has a proposed 420 single-family residential lots to be built in five phases in a private, gated subdivision…. A park and recreation center with a swimming pool are mentioned… as are Mediterranean style touches…. [Tonight], the Surprise City Council will discuss the matter…” But why wait ‘til tonight, when you can read more about it now? In YourWestValley. http://bit.ly/2hWwvgy

Pollack: Trump policies likely to result in growth. The Monday Morning Quarterback tackles “[t]he long awaited and anticipated increase in interest rates” and looks at whether Trump-enomics will play into any future spikes. Plus… U.S.: Retail Sales, Inventories-to-Sales Ratio, Industrial Production, Capacity Utilization, Consumer Price Index & Inflation, Builder Confidence. AZ: Employment Growth & Unemployment – Greater Phoenix & Tucson. http://bit.ly/2gYSZMh

View underwater homeowners by state. “The five states with the most seriously underwater homeowners,… were: Florida (911,288), California (535,501), Illinois (517,703), Ohio (437,706), and Michigan (269,667).” Get a full, state-by-state, ‘heat map” breakdown at REALTORMag. http://bit.ly/2hEqmrK

CoreLogic predicts housing market growth in 2017.  A housing-market future-cast from CoreLogic’s VP Frank Nothaft, in HousingWire. The chief economist makes predictions for five main areas: mortgage rates, vacancy rates, home appreciation, incentives to refinance, and credit risk. Also included is a link to “what other economist say is in store for next year.” http://bit.ly/2h8K5kj

Mortgage rates increase for Monday. “The average rates on 30-year fixed and 15-year fixed… both rose…. 5/1 ARMs also rose…. At the current average [30-year fixed] rate, you’ll pay principal and interest of $487.27 for every $100,000 you borrow. That’s up $8.70 from what it would have been last week.” Click to Bankrate to see all the latest mortgage figures and trends, including a look at “where… experts expect rates to go from here.” http://bit.ly/2hQjrd1

Cameron’s $5M + deals of the day – http://bit.ly/2h6L42X
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!
Ducey offers minimum comment on minimum-wage lawsuit. “Gov. Doug Ducey on Monday declined to answer whether he supports a lawsuit challenging the state’s new minimum wage. Business groups are suing to overturn Prop. 206… [T]he suit… is scheduled for arguments [today] before a Maricopa County Superior Court judge.” More on the lawsuit, what Gov. Ducey did (and did not) say about it, plus info on a “proposal floated… for a do-over vote on Prop. 206” — at AZCentral. http://bit.ly/2h6U7AO

The Armory, a startup incubator by and for veterans, debuts in Phoenix. “The Armory [455 N Third St.] aims to help veterans launch and scale startups… The incubator will provide free co-working space, mentorship, access to networking with investors and more.” For more on the Armory and what city officials and veterans are saying about it (one vet calls it “life-changing”), click to AZCentral. http://bit.ly/2hEx8xA

Dispute over Desert Diamond West Valley casino heading to trial. “U.S. District Judge David Campbell denied the request of the Tohono O’odham Nation — which owns and operates the casino — to rule in its favor without a trial. Instead, the [Nation] will have to prove its case in front of the judge [that it should be allowed to ‘operate… with Las Vegas-style slot machines and table games’]. More on the ruling at AZCentral. http://bit.ly/2hWAfyO

Trump’s infrastructure splurge would collide with U.S. skilled labor crunch. And, in following through with a campaign pledge to “build new roads, tunnels, bridges, railroads, airports, schools and hospitals,” a labor shortage isn’t Trump’s only obstacle. According to Reuters, the President-elect’s “$1 trillion infrastructure investment plan” could also face resistance from Senate Republican leader Mitch McConnell as well as from (speaking of bad road) Democratic leader Nancy Pelosi. Details here: http://bit.ly/2h8Hl6B

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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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.