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The Dealmaker: 1/24/2017

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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.
GOT A COMPLEX? – Phoenix metro apartments sales hit record $4.97B in 2016. Phoenix Business Journal’s Mike Sunnucks looks at the “new numbers from ABI Multifamily,” along with the impact of “investors and landlords from California, the Pacific Northwest and Canada” on the “record sales volume” for apartment complexes. —> http://bit.ly/2ko7cZs

Largest deal in history of Arizona MLS closed by Robert Joffe. According to this press release in Digital Journal, Joffe “has closed on the sale of a $12,750,000 home in Paradise Valley.” The deal for the “14,150-square-foot, 2.5-acre gated estate… is the largest…in the state’s history.” For a few of the features in this “Georgian Revival-style mansion” (“12 bathrooms’!), along with Robert Joffe’s 2017 market prediction for “homes in the $7 million-and-up price range,’ click it: http://bit.ly/2jVOS94

Scottsdale’s Artesia revived with 500 new, luxury condos. “Meritage… is partnering with iStar Inc. to develop the… project on the [NE] corner of Scottsdale and Indian Bend…” The Republic’s Catherine Reagor reports that plans for the “stalled luxury condominium development… call for adding… a 10-acre park, resort-style pools and a large clubhouse…” View a rendering and get price and sq. foot info, plus expected move-in date, here: http://bit.ly/2jaRhbL

First ‘smart home’ apartments in Arizona coming to Gilbert. “Cisterra… is developing Vistara [‘a 366-unit apartment community’] at SanTan Village, which will offer remote control locks, temperature and lighting to its residents…” According to Cisterra, this “it will be the [state’s] first apartment community to offer remote, mobile-device enabled technology to residents…” Other smart-home features and a poolside-perspective of Vistara at AZRE. http://bit.ly/2kemDjw

Industry reacts: Is Trump’s suspension of FHA mortgage insurance premium cut good or bad? Mortgage Bankers Association, Community Home Lenders Association, National Association of Realtors, California Association Of Realtors — the head honcho from each weighs in, in this HousingWIre report by Brena Swanson, who notes: “The controversy and uncertainty surrounding FHA MIPs has left [them] divided.” http://bit.ly/2jmOCPw

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

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!
Scottsdale, 4 other Valley cities among tops in nation for jobs. “[WalletHub’s] rankings compared 150 of the most populated U.S. cities based on 23 job-market indicators… Scottsdale earned the top spot…” To find out where other Valley cities landed “within the top 20,“ head to AZCentral. http://bit.ly/2jmSzDW

Study: Lake Mead shortage could slow home construction, agriculture. A Water Resources rule. Groundwater Supply and  Replenishment. Water Allocation. CAP. Rationing. A Western Resource Advocates study. Find out how each factors into a possible ”new legal hurdle for suburban homebuilders and farmers” — at Arizona Public Media. Plus, get the study’s “seven recommended steps the state should take to conserve water and lower the chance of losing Colorado River allocation.” –> http://bit.ly/2jVKSFz

Solar group asks Arizona utility regulators to reconsider net-metering decision. “The Alliance for Solar Choice [TASC] is asking Arizona utility regulators to reconsider their December decision to end the system of net metering, which will reduce what utilities pay residential customers for excess power they send to the grid…. TASC, which opposed many facets of the decision… assert[s] that the regulators inappropriately changed a rule without following the proper legal procedure.” AZCentral. http://bit.ly/2j1sMCI

Fired executive director sues Arizona Democratic Party, alleges self-dealing. “According to a lawsuit filed… [by former Democratic Party Executive Director Sheila Healy], the chairwoman of the Arizona Democratic Party [Alexis Tameron] directed campaign expenditures toward her friend and husband, and when [Healy] objected to the payments, she was fired.” Further details on this intraparty legal squabble, plus reaction from Tameron — at Arizona Center for Investigative Reporting. http://bit.ly/2kpqtpa

Senators propose giving states option to keep Affordable Care Act. “But the plan was attacked by Democrats as a step back from the Affordable Care Act’s protections, and it was unlikely to win acceptance from conservative Republicans who want to get rid of the law and its tax increases as soon as possible.” More on this proposal in the New York Times. http://bit.ly/2jNW3Om

46-Acre Mixed-Use Center in Peoria Sold for $34.45 Million Read more

Greater Phoenix Office Market Improves Despite Slowing Job Growth Read more

CBRE Completes the $26.4M Sale of Park Ladera at Spectrum Ridge 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.