The Dealmaker: 2/17/2017

Infill site in Old Town Scottsdale to soon sprout new homes. “Construction of [Taylor Morrison’s ‘urban-style’] Treo [‘at Miller and Osborn’] comes just a few weeks after another big Valley homebuilder, Meritage, moved forward with plans to revive the Artesia condominium at Scottsdale and Indian Bend…” Further details and rendering of Treo along with info on buyer and builder demand for infill homes and sites — at AZCentral. http://bit.ly/2lrpQ2f

San Tan Valley incorporation bill goes to the governor. “The Senate passed House Bill 2088 on a 28-1 vote… The bill removes a legal provision permitting an existing city or town within six miles of a proposed incorporation to block it…. [It] is now up to Gov. Ducey for signature or veto.” Stay tuned. http://bit.ly/2lVIOMr

Monsanto pulls Pima property tax proposal, preserves trade zone plan. “Dodging a potential thorn in the side of a federal Foreign Trade Zone application for a planned Marana greenhouse, controversial agi-biz giant Monsanto has withdrawn a proposal to pay Pima County less in property taxes… In effect, Monsanto has eliminated a potential stumbling block and stymied opponents of the company…” —Tucson Sentinel. (FYI, company foes would not only include “[a]nti-GMO activists [who] have blasted Monsanto at county meetings,” but also, presumably, Neil Young, whose 2015 album The Monsanto Years also criticized the company.) http://bit.ly/2kGGneA

Los Angeles looks to ban major real-estate developments. In our continuing quest to keep you abreast of the latest developments over in L.A. concerning Measure S, we bring you this pro & con piece from the Wall Street Journal, which calls the initiative “the most extreme example yet of a revolt against development that is breaking out across the country.” http://bit.ly/2lrwoye

Building permits approaching post-meltdown highs. “Construction permits made a strong showing [‘up 4.6 percent from December’] while housing starts were down” — particularly out West. In fact, Mortgage News Daily’s Jann Swanson calls the “Western region” results “markedly weak,” using such terms as “slow,” “plunged” and “fell” to describe the data for the region’s “permitting,” “starts,” and “completions.” http://bit.ly/2m3Jy16

Housing affordability remains favorable even as it hits an eight-year low. “59.9 percent of new and existing homes sold [in the fourth quarter] were affordable to families earning… $65,700.” And what factors “pushed housing affordability… to its lowest point since… 2008”?  Find out, plus see more results from the “Housing Opportunity Index” — including the least/most affordable markets — in Eye on Housing. http://bit.ly/2lrnosy

ClosingCorp survey: 52 percent of lenders ‘off’ on initial home loan estimate. “[According to the new survey], 35 percent of buyers were surprised their final closing costs were higher than originally estimated. Furthermore, 17 percent were blindsided by the fact closing costs and fees were even expected.” What else is “surprising buyers at the closing table“ — and why — in HousingWire. http://bit.ly/2lrAB4u

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