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The Dealmaker: 1/11/2017

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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.
Leases are voidable by a non-signing spouse. Rose Law Group Real-Estate Litigation-Department Chairman Adam Martinez writes in the latest edition of his Ask Adam Real Estate Q&A column. In response to a “lease transaction” inquiry from a “broker [who] represents the owner of a commercial building,” Adam explains Arizona law pertaining to signature requirements for leases and other agreements — in Rose Law Group Reporter. http://bit.ly/2igIk0p

Apartment building owners face higher rates on loans. From a report in Phoenix Top 5 News Bulletin published by ORION INVESTMENT REAL ESTATE: “Long-term interest rates rose by well over 50 basis points in the last months of 2016, as the yield on the benchmark U.S. Treasury bonds took off… That will make it tougher for borrowers to make deals work. Meanwhile, lenders have not shifted the terms they offer or bent their underwriting requirements to help close deals.” See the report for details and industry insider takes on rates, underwriting, and capital availability. http://bit.ly/2ikhWFU

400-unit complex coming to Avondale. “Four-hundred apartments in 22 buildings may soon be coming to a former movie studio site…. [P]lanned units will consist of 72 single-bedroom, 296 two-bedroom and 32 three-bedroom units… Access to [‘Avalon,’ a Lervick LLC development] will be via a gated entrance off 103rd Avenue.” And based on the rendering, the late movie star Esther Williams would have probably loved living here! Check out what we’re talking about and get further design details at AZBEX. http://bit.ly/2idxUTL

Yes, it’s still more affordable to buy (in Maricopa County) than rent. “[ATTOM Data Solutions] compared the monthly rents of three-bedroom apartments to monthly payments on median-priced homes (including the mortgages, property taxes, and insurance) across 540 counties.” Get the heat-map results plus a link to ATTOM’s complete report at REALTORMag. http://bit.ly/2iGExuc

Everything you ever wanted to know about housing in 2014-15. “HUD calls the [American Housing Survey] ‘The most comprehensive survey of its kind.’ Mortgage News Daily’s Jann Swanson presents some of the survey’s “representative findings,” including figures for “housing costs,” “serious crime,” and “food insecurity” in select metros around the country. And sure to be a hit with chart & graph fanatics, MND has a link to the AHS Table Creator website where visitors can “view the results and construct custom tables and charts.” http://bit.ly/2j6XHfI

4 cities where millennials actually act like grown-ups. “Just over 35% of people ages 18 to 35 own a home… But in four cities in America [including one in Arizona], the majority of millennials are bucking that trend, according to a study released Tuesday by financial firm SmartAsset.” Head to MarketWatch to find out which Arizona city that is. HINT: The name of the city is the same as a movie character played by Johnny Depp. Too easy? (If any newcomers to the state are reading this, a few are probably wondering, “There’s a town in Arizona called Scissorhands?”)  http://bit.ly/2j6WZz0

HPPI SPACES OUT – Difference of opinion between appraisers and homeowners widens. “Appraisers and homeowners are less eye-to-eye on home value for the first time in six months, with the gap between their opinions widening in December to 1.33 percent, according to Quicken Loans’ National Home Price Perception Index (HPPI).” More on HPPI as well as the dip in the “latest Quicken Loans National Home Value Index (HVI),” in RIS Media. http://bit.ly/2igOrlj

4 steps Ben Carson should take as HUD secretary. HousingWire presents “four steps that Carson can take as HUD secretary to help bridge the policy gap between health and housing.” (Brief commentary following each brought to you by Dealmaker.) 1. Educate the public that access to affordable housing is a health issue. (Sorry, but this actually sounds a little crazy. What next? Teaching that homebuilders are actually surgeons?) 2. Highlight the need to transform our homes and communities to enable ‘aging in place.’ (Okay, that’s better.) 3. Launch a major supportive-services initiative for Medicare beneficiaries in publicly-assisted housing. (And how much will THAT cost?!?) 4. Promote the use of telehealth and high-speed broadband in HUD-assisted housing. (And maybe call it Healthflix?) http://bit.ly/2jEpiWy

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

Prestigious indoor polo matches at Barrett-Jackson this weekend – http://bit.ly/2j1H6bk

Get ready to love where you work: Rose Law Group is hiring a Commercial Litigator – http://bit.ly/2hRxUZH
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!
Phoenix publishers refuse to testify during sex-trafficking hearing. “Phoenix executives at the Website Backpage.com invoked the Fifth Amendment on Tuesday to avoid testifying before a Senate subcommittee on sex-trafficking ads… Sen. John McCain… appearing at the hearing, said the website had been linked to ‘hundreds and hundreds’ of sex-trafficking cases.” More on the allegations plus a Backpage response, at KTAR. http://bit.ly/2iGBAKg

Farnsworth designs bill to aid San Tan Valley incorporation. According to a Capitol Media Services report in East Valley Tribune: “A House panel approved a measure… that could allow residents of San Tan Valley decide if they want to become a city. [Under current law], cities of at least 5,000 within six miles have veto power; for cities of less than 5,000 that right to veto extends out three miles. The proposal by Rep. Eddie Farnsworth, R-Gilbert, would create an exception…” Click for details —> http://bit.ly/2j6Zrpl

2017’s best cities for jobs include 3 in Ariz. “WalletHub compared 150 of the most populated U.S. cities across 23 key indicators to measure job-market strength, including job opportunities, median annual income, and employment growth.” For a list of the top 10, a heat map of all 150, plus a link to the complete WalletHub report, click to REALTORMag. http://bit.ly/2iGNZ0x

Profits of Policing: Arizona asset seizures net $200M in past five years. But, according to Arizona Center for Investigative Reporting “[r]egulation of the program is inconsistent, and the reports designed to inform government officials about how and when the money is used are often missing data.” In their co-authored piece, AZCIR contributing reporters Emily L. Mahoney and Agnel Philip look into matter and present findings from an analysis of “more than 1,300 quarterly financial reports filed by agencies detailing seizures and expenditures from fiscal years 2011 through 2015.” http://bit.ly/2jjKUnY

Arizona solar customers gain more time to lock in rates. “Under the [Arizona Corporation Commission’s] amended order, customers will be eligible for the current, retail net-metering rates for 20 years if they file an application to interconnect their rooftop solar system before their utility’s new rates take effect.” Basically it all boils down to using “the date each customer files an application for interconnection,” as opposed to actually “using the date of interconnection” We think. Confused? Arizona Daily Star sheds some light. http://bit.ly/2jjOP4b

Newsmaker BONUS: Phoenix Country Day students vie for free-throw shooting title. “On Saturday, Jan. 7, Phoenix Country Day School students shined in the Elks Club National Free-Throw Shooting Competition in Wickenburg, where one of Arizona’s four regional championships took place.” Check out how two young hoopsters with the last name ”Rose” performed, in Paradise Valley Independent. SLIGHT SPOILER: Not too shabby! And not to put too much pressure on, but could a “plaque in the Basketball Hall of Fame in Springfield, Mass.” be on the horizon? http://bit.ly/2idz2ad

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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© 2024 Rose Law Group Reporter

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.