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The Dealmaker: 3/13/2017

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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!
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Phoenix among 5 U.S. markets with the most real estate bargains. “[Realtor.com®] put [its] data team on the case to find those metros where the biggest percentage of discount houses can be found.” (“Phoenix is poised for a big 2017”!) Chief Economist Jonathan Smoke surfaces to provide some quick insight. Get all this info and more by WATCHING  Realtor’s super-short videoette. It takes fewer than two minutes! —> http://bit.ly/2nmhdoa

House development challenges Benson, San Pedro River. “Villages at Vigneto… would make [Benson] the largest city in Cochise County and transform the area from a sleepy, rural county to Arizona’s newest housing goldmine… Environmentalists say that [adding 70,000 ‘water users’] will deprive the San Pedro River of water… drying up Arizona’s last undammed river…. The future of the [development] lives or dies on a single decision by the Army Corps of Engineers…” Arizona Sonora News. http://bit.ly/2ngqjWQ

Tucson adopts GPLET agreement for major downtown project. “The Tucson City Council has signed off on a $4.2 million property tax deal to help HSL Properties redevelop the La Placita property downtown.” See the site plan and get details on the “direct and indirect benefits of the proposed apartment complex with ground floor retail” — i.e., jobs, tax-revenue estimates — at Arizona Daily Star. http://bit.ly/2mk4VvA

Neighborhood concerned about multistory University of Arizona student complex north of Speedway. “[A]1,000-bed… complex… four to six stories tall…. span[ing] an entire city block… outside the official campus boundaries… [on] property… owned partially by the UA and the privately owned American Campus Communities… Many neighbors say they feel powerless… City Councilman Steve Kozachik… said his hands are tied in terms of the city stepping in to help ease… concerns.” Arizona Daily Star. http://bit.ly/2mjPAvj

Freddie Mac considers backing single-family home rentals. The Urban Institute says doing so “could help alleviate the affordable housing shortage… Lawmakers and community groups criticized a [similar] Fannie Mae deal… that guaranteed a $1 billion loan to Blackstone Group-backed Invitation Homes…” Meanwhile, according this report in Bloomberg, neither Freddie Mac nor the Federal Housing Finance Agency are talking about it. It’s all very hush-hush. http://bit.ly/2nx6OW9 

Dealmaker BONUS: ’Ponderosa’ home a part of Hollywood history. “‘Bonanza’ was… one of the most popular shows of the 1960s and early ’70s… So popular, in fact, that the show’s star, Lorne Greene, decided to build a replica of the show’s signature set piece, the Ponderosa Ranch House, on a golf course and home development on the then-distant outskirts of east Mesa….[T]he Ponderosa II [now a ‘historic landmark’] was the focal point last week for the annual ‘Bonanza Friendship Reunion,’ a celebration of the show and its fans.” More on the house and the celebration in East Valley Tribune. http://bit.ly/2mjDTVq
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!
Pinal County residents may vote in November on half-cent sales tax increase to fund roadwork. (Disclosure: Rose Law Group represents a group of business owners advocating for the new roads.) “‘We identified about $1.4 billion in need but with this particular plan we’re coming up with only about $640 million…’ Andrew Smith, transportation principal planner for Pinal County, said at last Tuesday’s council meeting.” More on the meeting, plus view the Regional Transportation Plan and “roadwork earmarked for funding in the next 20 years” — at Apache Junction Independent. http://bit.ly/2mEDkI8

Strong February jobs report led by construction boom. “[An increase of] 58,000, making a total of 177,000 construction jobs added over the past six months.” Click to HousingWire for a breakdown of “where… the [other] major gains… occurred” along with info on how this latest report could impact a possible Fed rate hike. http://bit.ly/2n1HF9c

Trump’s plan on Fannie and Freddie? Clues may emerge soon. “[A]ction or inaction on two… matters will demonstrate whether [Trump officials] intend to follow the Obama administration’s approach… or take a different path, perhaps toward privatization. One of the two action items… involves what should happen to the $10 billion in earnings that Fannie and Freddie together generated… The other matter involves a court ruling… ordering the government to produce thousands of documents it has been withholding from Fannie and Freddie shareholders…” The New York Times. http://bit.ly/2mCMPG8

[SUNDAY FEATURE] The World Wide Web’s inventor warns it’s in peril on 28th anniversary. (No, not Al Gore) “When [Tim] Berners-Lee submitted his original proposal for the Web, he imagined it as an open platform that would allow everyone, everywhere to share information, access opportunities and collaborate across geographic and cultural boundaries. But his faith… has been badly shaken by a series of high-profile hacks and the dissemination of fake news…” USA Today. (BTW, that 1999 report about Al Gore saying that he “invented the internet”? Yep, FAKE NEWS. Al never said it.) http://bit.ly/2ngwPwL

FLAKE NEWS – Flake likely to face challenges from all sides, vows to be ready. “With almost two years until midterm elections, experts say [Sen. Jeff] Flake can expect serious opposition in his re-election bid from Republican and Democratic challengers alike.” Cronkite News. http://bit.ly/2nmjQGG

Newsmaker BONUS: Single? No children? No will? Big mistake; Laura Bianchi, director of Rose Law Group’s Estate Planning Dept. elaborates. Laura Bianchi: “While it varies from state to state, in general intestacy laws give certain rights to spouses and children; however, without either it becomes open season for third parties handling the estate.” Or as this NY Times piece puts it: “[P]olitically connected lawyers, judges and contractors can… feed on these unguarded estates like leeches on flesh at a nudist camp lake.” Read the report and check out Laura Bianchi’s full comment, here: http://bit.ly/2mk6Fo1Like The Dealmaker by Belfiore & Rose Law Group on Facebook

Over 600 People Attend Grand Opening at Iconic New Rosewood Grove Read more

CableOne Gifts $100,000 for Hance Park Amphitheater Read more

CBRE Completes $10.55 Million Sale of Desert Canyon 200 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.