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The Dealmaker: 2/22/2017

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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.
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Real Estate Q & A: No right to a view without an easement. This week’s legal predicament: A homeowner has trees that obstruct (or could grow to obstruct) a “neighbor’s scenic view.” Does the homeowner have to remove the trees? Adam Martinez, Rose Law Group Real Estate Litigation Department Chairman, explains the legal hurdles that must be overcome before an “obstructed view [would] constitute a nuisance,” in Rose Law Group Reporter. http://bit.ly/2m8fa9V

Ducey signs bill clearing way for San Tan Valley incorporation. “But Tuesday’s action [by Gov. Doug Ducey] does not guarantee there will someday be such a city…. [O]nce the lines are drawn for the proposed new community, it still needs a majority of people within those boundaries who show up to vote to support the plan.” (On the other hand: “[T]he new town [could be] automatically incorporated without an election.”) Find out how that would work and get further details on the new law in this report from Capitol Media Services’ Howard Fischer at Arizona Capitol Times. http://bit.ly/2lvQ8hY

Phoenix in top 10 for buyers affording homes. “Rising home prices [up more than “6 percent” from a year ago]”? Not a problem! Interest rates [up ‘0.4 percent’ from last year].” No biggie! As AZCentral reports, not only did these upswings fail to “knock metro Phoenix off the top 10 list of most affordable big cities for homebuyers,” but we actually moved “up a spot from last year”(!) Click through to see all the results (including least/most affordable cities) in this report by “national mortgage research firm HSH.” http://bit.ly/2lLZ71b

Pollack: Mixed, but normal. Wait a sec, does this Pollack headline refer to last week’s economic news, or could it actually be describing how you, our readers, feel about us presenting a Tuesday installment of The Monday Morning Quarterback on a Wednesday? At any rate, here are the MMQ’s “Snapshot” topics… U.S.: Leading Indicators, Retail Sales, Manufacturing & Trade, Consumer Price Index, Industrial Production, Capacity Utilization, Building Permits. AZ: Air Traffic at Sky Harbor – Emplaned & Deplaned. http://bit.ly/2mmc52g

Banks retreat from apartment market. “Swelling supplies of apartment units are prompting big banks to pull back from new projects, forcing developers to scramble for capital, in a sign that the U.S. apartment industry headed for a downturn.” Says industry CEO Toby Bozzuto: “I haven’t seen anything this seismically different since 2008.” More on this troubling news in The Wall Street Journal. http://bit.ly/2lLMKC1

Mall landlords’ next act: apartments and concerts. “Westfield, Simon Property venture into residential buildings, organize concerts and develop apps to engage with consumers.” As one industry consultant notes in this WSJ report: ‘[T]o drive traffic to their centers’… landlords have to provide more than just bland boxes containing stores and restaurants.” (As for mall concerts? Great idea! Seems like a perfect gig for groups with names like The Gap Band or The Pet Shop Boys. Not so much, though, for groups with names like Arcade Fire and Widespread Panic.) http://bit.ly/2l8rwLi

Big banks could get back in the mortgage market in a big way. “Big banks like JPMorgan… Bank of America… Citibank… “ What would “open the door” for a return to a market currently dominated — “in a big way” — by “nonbank lenders such as Quicken, loanDepot and Caliber Home Loans”? According to this CNBC report in Mortgage News Daily, it all hinges on President Trump and whether “deregulation happens.” —> http://bit.ly/2l8CbWh

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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!
Groundbreaking water agreement signed; Rose Law Group land use and water law attorney, Thomas Galvin, comments. “[The ‘CAP System Use Agreement’] recently signed by Central Arizona Project and the U.S. Bureau of Reclamation… increases the reliability and flexibility of the state’s single largest renewable water supply by creating a legal framework to allow wheeling, firming and exchanges…” Thomas Galvin: “This overall framework, years in the making, is another positive step in ensuring a safe and reliable water supply.” Read Thomas’ full comment, plus learn what “wheeling, firming and exchanges” mean  — at Rose Law Group Reporter. http://bit.ly/2mco8Qa

Baseball commissioner takes D-Backs side in legal dispute over Chase Field. “It’s absolutely clear from the material that has been made available to me there are serious maintenance needs that need to be met with respect to the stadium.” For more of what Commissioner Rob Manfred said in support of the D-Backs position, click to AZCentral. http://bit.ly/2m8ixxK

Phoenix spends money to evaluate possibility of hosting Coyotes. “City council-members approved $75,000 for Barrett Sports Group to evaluate Talking Stick Resort Arena… to see what it would cost to move a hockey team downtown, including remodeling and updating the arena…. But not everyone… was on board with the idea.” Head to KTAR to find out which council-member said that “it’s throwing our sister city [Glendale] a little bit under the [Zamboni].”  [Note: The council-member actually said “under the bus,”; we replaced it with “Zamboni,” thinking it a bit more zany.] http://bit.ly/2lGgQXj

Here’s exactly how much less water is in the Colorado River because of climate change. “Record-setting drought reduced flows… by nearly 20 percent for the first 15 years of this century, but… drought is not the only reason the water has slowed.” According to researchers, “[c]limate change made a bad situation worse… ‘The future of Colorado River is far less rosy than other recent assessments have portrayed.’” Read results of this assessment at AZCentral. http://bit.ly/2l0eWgd

CBRE Completes $10.55 Million Sale of Desert Canyon 200 Read more

HonorHealth Anchored Medical Complex Trades for $10.6M Read more

Phoenix Multifamily Market Closes 2016 With Slower Activity 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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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.