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The Dealmaker: 2/28/2017

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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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How are Scottsdale developers building taller, denser buildings? “A seven-story office tower… 30 feet taller than zoning would typically allow. An apartment complex… granted 33 additional units. A mixed-use development… taller than any of its surroundings…. [These and other] projects have taken advantage of a… provision… that allows taller buildings and greater density in exchange for public art and other improvements…” But not everyone is thrilled with such “zoning bonuses.” AZCentral. http://bit.ly/2m9Y5Mv

Pollack: The economy is expanding. To open this week’s installment, TheMonday Morning Quarterback looks long — down the road — at Employment, Growth, and possible Labor Issues. And MMQ’s “Snapshot” topics? U.S.: Consumer Sentiment, Mortgage Rates & The Fed, New & Existing Home Sales. AZ: Lodging Occupancy – Supply & Demand Rates. http://bit.ly/2mBeQxo

Buyers are being drawn to new homes. NAHB Chairman Granger MacDonald and Chief Economist Robert Dietz size up the Commerce Department’s new-home sales figures [up ‘3.7 percent last month’]. Plus, get inventory figures and find out the “only major region to see a decrease in new-home sales last month,” at REALTORMag. http://bit.ly/2mHwuyD

New-home sales up less than expected; prices up 7.5% annually.Mortgage News Daily picks up where the REALTORMag piece above leaves off, with details on “the 10.4 percent nosedive sales took in December.” (Also get median home prices figures and average time on market numbers.) —> http://bit.ly/2m9Lads

Pending home sales drop unexpectedly to lowest in a year, down 2.8% in January. “A weak start to the year,” says CNBC’s Diana Olick. “Experts had expected a slight gain… as new supply was expected to come onto the market in January.” Get the figures from NAR’s pending home sales index, and find out which region was the only bright spot, where ‘pendings’ “rose 2.3 percent… and were 3.6 percent above a year ago.” http://bit.ly/2lTb5DN

Highest home-buying demand in years stifled by tight inventory. “[I]nterest in buying a home is the highest it has been since the Great Recession…. [yet] home shoppers… face… numerous obstacles in their quest to buy a home.” NAR’s Lawrence Yun comments on the “squeeze” that’s keeping many “would-be buyers at bay,” in Mortgage News Daily. http://bit.ly/2lQcqgf

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

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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!
Dear Governor Ducey: We don’t like these regulations. “Some… want Ducey to roll back environmental regulations. Others want to make doing their jobs easier and less subject to regulatory oversight. And one man just wants to open a hot dog stand… Ducey last month asked Arizonans to tell him what regulations they want sent to the scrap heap, and the people delivered.” See some of the ideas folks are pitching, at Arizona Capitol Times. http://bit.ly/2m3Y2kT

Chicago Airbnb on hold after Goldwater suit. “Under [a] change [approved by the city… and prompted by the Goldwater suit], city inspectors would need a search warrant or subpoena to access… guest information that hosts must keep…. [A]s originally proposed [the regulation] would have required hosts to… make [such info] available… upon request.” More on the case and why such “tweaks” aren’t enough for the Goldwater Institute to end its challenge of the ordinance — in the Chicago Tribune. http://bit.ly/2mBkVdd

Ducey presses governors on need for civics education like Arizona’s. “It’s cute when a 5-year-old doesn’t know who the current president is,” [Gov.] Ducey said… at the winter meeting of the National Governors Association… “But when 10 percent of our college graduates believe that Judge Judy sits on the Supreme Court, it’s not that funny.” (We applaud the Governor for leaving a bit of wiggle room in his remark for those of us who think that such adult ignorance can occasionally be somewhat funny, e.g., “Watters World.”) More on the matter in Cronkite News. http://bit.ly/2lQlEZT

Arizona House Speaker declares controversial ‘protest’ bill dead. “[SB 1142]… would punish organizers of public protests that turn violent with racketeering charges…. It would have allowed protest organizers to be prosecuted if someone else were involved in rioting — even if that individual were not part of the organizing group…. ‘[W]e are not about limiting people’s rights,” [Speaker J.D. Mesnard] said… ‘The sponsor is not about it, the governor is not about it, the government is not about that. The most efficient, expedient way to communicate that is to kill the bill.’” AZCentral. http://bit.ly/2mpIzMQ

The American commute is worse today than it’s ever been. “The Census’s 2015 American Community Survey data… show that the average American commute crept up to 26.4 minutes in 2015… Multiply it all out… and the typical American could expect to spend about three hours and twenty minutes longer getting to and from work than in 2014.” OTOH, according to this Washington Post report, “New numbers from Gallup show that remote work [e.g., working from home] is becoming more common.” http://bit.ly/2l8xJeeLike The Dealmaker by Belfiore & Rose Law Group on Facebook

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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© 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.