The Dealmaker: 12/28/2016

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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.
Can I force my co-owner to sell a property? In this installment of his Real Estate Q&A column, Rose Law Group Real-Estate Litigation-Department Chairman Adam Martinez explains what happens in Arizona “when multiple owners cannot agree on the use or disposition of real estate.” Check it out, in Rose Law Group Reporter. http://bit.ly/2ihRYUi

Pollack: In a word–optimism. “[M]ediocre results for… GDP growth… coming to an end…. [C]onsumer sentiment [is] at new highs… This index began to take off… following Trump’s victory as… respondents… expected favorable impact of new economic policies…” Other highlights in this week’s edition of The Monday Morning Quarterback… U.S: Income & Savings, Mortgage Rates, New & Existing Home Sales, Corporate Profits, Manufacturing. AZ: Housing Permit Activity – Greater Phoenix & Tucson. http://bit.ly/2hwSSNp

Trump win could usher in boom for U.S. housing, says Shiller.  “[A]ccording to [Yale University economics professor] and Nobel laureate Robert Shiller… ‘I think we’re at a turning point. The numbers that we’re reporting today are October, before the Trump election, and everything looks different now…’” But is he actually “forecasting a boom”? Click to Bloomberg to find out — plus get Shiller’s take on the recent rise in mortgage rates. http://bit.ly/2ihOvW1

FLIPPING OFF/ FLIPPING ON – As home prices rise, flippers make a comeback. “The number of investors who flipped a house in the first nine months of 2016 reached the highest level since 2007…. [O]ne-third of the deals were financed with debt, a percentage not seen in eight years…. Wall Street… is getting back into the action. A number of banks are arranging financing vehicles for house-flippers…” As one flipper puts it this WSJ report: “The floodgates have opened.” http://bit.ly/2iEO3xE

Housing gains highlight economic divide. “[H]omes in ZIP Codes where the median value is $500,000 to $1 million are now worth 103% more than they were 16 years ago… In ZIP Codes where the median home was worth $100,000 to $150,000, [they] are now worth 24% more than they were in 2000.” The Wall Street Journal looks at the results of a study by Weiss Analytics and how this ‘economic divide’ also correlates to a gap along political lines (i.e., housing gains in Trump-country vs. Clinton-country). http://bit.ly/2ir7xWU

CLOSING TIME – Goodbye new normal: Time to close a loan ticking back up. “After settling back around 46 days, the time to close a loan is starting to tick higher again [at ’49 days’], getting close to this year’s high [of ’50 days’], according to the latest Origination Insight Report from Ellie Mae.” Further details including refi/purchase closing times along with the number of days to close, pre/post TRID — in HousingWire. http://bit.ly/2httVQY

Is the bubble out west about to burst? RISMedia poses the question based on its review of “Clear Capital’s recent Home Data Index (HDI) Market Report.” According to the report, “San Jose, Calif. — one of the nation’s leading markets since the bust — posted negative 0.3 percent last quarter…” Click through to see why one Clear Capital VP calls this dip in home prices “a huge deal.” Also find out — according to the report — what “[o]ther markets in California are also positioned to pop.” —> http://bit.ly/2irbJGv

Cameron’s $5M + deals of the day – http://bit.ly/2iENx2G

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!
7 surprising trends that could disrupt the housing market in 2017.  “Realtor.com® went through [their] archives to find the top trends… that have the potential to redefine, even transform, the housing market in 2017.” As Clare Trapasso notes in her report: “Small is the new big. Modular is the new custom-built. Three-dimensional printers are the new homebuilders. Communal living is the new grown-up, upscale obsession. Even yurts, the dwellings favored by Mongolian herders, are back. We’re not kidding.” Check them all out, here: http://bit.ly/2iEXhKf

Do you have $1 billion to spare? What Obamacare repeal would look like for Arizona. Before presenting us with “a few numbers to think about” under the scenario of Obamacare being “abolished outright,” Arizona Capitol Times reporter Luige del Puerto opens with a few introductory remarks. Here’s a sampling (followed by some questions we have, in brackets): “Congressional inaction amid so much talk of repealing Obamacare would… sow chaos on the insurance market place [As against how orderly things are now?], as insurers get increasingly unsure about how many will enroll [Again, this stands in contrast to what’s happening now… how exactly?], and enrollees face uncertainty about their ability to keep their health plans [As opposed to: “If you like your health plan you can keep it”!?!] Read the report, here: http://bit.ly/2hO1Phr

Lawmaker wants to make it easier to deny ‘unduly burdensome’ publics records requests. “The proposal by Sen. John Kavanagh, R-Fountain Hills, leaves in place existing requirements for records to be open to public inspection…. But SB1019 adds a requirement that the records sought be identified with ‘reasonable particularity.’ [It also] provides public officials with the ability to claim that ‘the request for access to public records is unduly burdensome or harassing.’” Capitol Media Services’ Howard Fischer looks into the “roots” of the measure along with how its “proposed language” could lead to abuse, in Arizona Capitol Times. http://bit.ly/2ieG3o0

Sophisticated, Smart, Scenic: Innovative Carefree Community Attracting Untapped Market Read more

California Investor Purchases $19 Million Solano Terrace Apartments Read more

Westland Properties Group Closes Another Custom Lot Transaction 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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