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The Dealmaker: 1/19/2017

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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.
San Tan Valley incorporation in the legislative spotlight. “Rep. Eddie Farnsworth, R-Gilbert, is pushing the measure… [that] would create an exemption from laws that give cities the power to veto any new nearby incorporations…. Alex Vidal, lobbyist… defended that veto power, saying that buffer zone provides room to grow…” As for Capitol Media Services’ Howard Fischer, he’s the one shining the spotlight on the new law along with arguments pro and con, in Arizona Capitol Times. http://bit.ly/2k5bvVj

Will Trump overturn FHA mortgage reduction? HousingWire’s Ben Lane reports that “the FHA premium cut, which is currently scheduled to go into effect on January 27, will be delayed, at the very least… [and possibly] done away with completely.” But not so fast, because, as Lane is quick to note in an “Update”: “The Trump transition team… told Politco’s Lorraine Woellert on Wednesday that it has yet to make an official decision on the FHA premium cut.” Click through for further speculation about the premium cut, including the potential impact of its delay or demise. http://bit.ly/2iXk6vC

BUILDING TRUST – Survey reveals the most trusted builders. “The [Lifestory Research] study tracks more than 100 builder brands in the 35 largest U.S. housing markets, and collects the perceptions of trust in home-builder brands as expressed by more than 31,000 would-be buyers.” And the “20 builders that nabbed the highest scores”? See ‘em, at REALTORMag. http://bit.ly/2jQsoDU

BUILDING CONFIDENCE – Builders less confident. “The Housing Market Index… backed down a bit from its post-election surge in January, dropping 2 points to a composite reading of 67.” Head to Mortgage News Daily for HMI’s component scores, regional details, and single-family construction expectations (and “concerns”) for 2017 from NAHB Chairman Granger MacDonald. http://bit.ly/2jQow62

Housing starts jumped in December, capping best year since 2007. However, good news like this seldom comes without a qualifier, and this WSJ report is no exception. Observe: “[B]ut a slowdown in the pace of new apartment building suggests that it may be difficult for construction to hit new highs this year without a strong rebound in single-family home building.” Get the figures and read the report here: http://bit.ly/2iG5eTK

Mortgage rates poised to rise close to 5% in 2017. “Mortgage rates may be trending down at the moment — but what comes down will go up as the year progresses, according to several key housing economists who spoke at the recent International Builders Conference.” Among them: NAHB Chairman Robert Dietz, CoreLogic Chairman Frank Nothaft, former Fannie Mae Chief Economist David Berson. Head to Inman for their forecasts. http://bit.ly/2jDIVxf

Cameron’s $5M + deals of the day – http://bit.ly/2iXzY0X

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!
Western mayors talk water conservation, stay mum on drought allotments. “Nearly a dozen Western mayors gathered Wednesday to discuss anything and everything ‘water’ except the region’s drought contingency plan — what Phoenix Mayor Greg Stanton called ‘the 800-pound gorilla in the room.’” Why so water tight-lipped? Mayor Stanton explains in this Cronkite News report on the U.S. Conference of Mayors. http://bit.ly/2jsOah9

SHARIZONA – Arizona takes steps toward embracing sharing economy. “First, on January 1, 2017 a new law took effect which… prohibits municipalities and cities from banning people from listing short-term rentals on sites like Airbnb and VRBO. Second, the Arizona Department of Revenue began a partnership with Airbnb that will provide for the streamlining of tax payments to the state.” AzBigMedia looks at the potential impact of both of these steps, and supporters and opponents weigh in. —> http://bit.ly/2k4Wy5B

In first adjustment since 1972, bill would require more car insurance. “SB1111 [from Rep. Kate Brophy McGee, R-Phoenix] would boost the minimum personal injury liability to $25,000 per person and $50,000 per incident, and require property damage coverage of $25,000.” According ubiquitous newsman Howard Fischer, “[t]he debate comes down to the question of what role the state needs to play in ensuring that those who are injured by the negligence of others have the resources to cover the damage they cause.” See arguments for both sides of the debate, in Arizona Capitol Times. http://bit.ly/2jsFKGs

How a liberal Santa Monica high school produced a top Trump advisor and speechwriter. “How the People’s Republic of Santa Monica, as the city is sometimes jokingly called [and often not-so-jokingly, justifiably so], gave rise to the skinny-suited man now at Donald Trump’s side is as much a story about [Stephen Miller’s] intellectual tenacity as it is about the backlash to liberalism at the turn of the millennium.” For details on the ascent of Miller — once “Santa Monica High’s best-known and least-liked conservative activist” — check out reporter Lisa Mascaro’s profile in The Los Angeles Times. http://bit.ly/2iXkUQY

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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, 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.