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The Dealmaker: 3/2/2017

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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: Can Arizona brokers pay commissions to out-of-state brokers? An Arizona property owner is selling his building to a buyer/broker in Chicago. Can the property owner pay the broker a commission without getting into hot water with the Arizona Dept. of Real Estate? Rose Law Group Real Estate Litigation Department Chairman, Adam Martinez, discusses A.R.S. § 32-2163 and the “very narrow exception” the “statute carves out” — in Rose Law Group Reporter. http://bit.ly/2lxI52w

Report: 2016 Phoenix land sales saw steady improvement. AZRE has the Cliffs Notes version of Colliers International 2H 2016 report for Greater Phoenix — key takeaways on permitting, residential land sales, multifamily activity, and a summary forecast for 2017. But for the full drill-down — complete with charts, graphs, and tables — be sure to click AZRE’s link to the Colliers report. http://bit.ly/2mKjMjL

Positive outlook for Pinal County, says national land brokerage company. “Pinal County is well positioned for the future…. ‘Pinal has the advantage of available land, more affordability, and promising job growth thanks to major corporate development.’” Economic Development Program Manager Tim Kanavel, Board of Supervisors Chairman Steve Miller, and County Manager Greg Stanley offer up their respective views on why “[t]he time to be investing in Pinal County is now” — at SanTanValley.com. http://bit.ly/2mQ7w08

11 Realtors say Ahwatukee Farms would increase home values. “[And] Realtors cite several [other] reasons for their endorsement of the [‘agrihood’] plan, including… that the defunct… course ‘will never be a golf course again.’… [This] drew a rebuke from… advocates of the golf course restoration.” More on the “agrihood” aggravation in Ahwatukee Foothills News. http://bit.ly/2mxEOFf

L’Auberge de Sedona, Orchards Inn purchased for $97M. “The 88-room L’Auberge and the adjacent 70-room Orchards Inn are situated within the heart of Uptown Sedona…. [The] popular… destinations were picked up by an affiliate of DiamondRock Hospitality Company…” Further details, including DiamondRock’s plans for the properties, at AZBIGMEDIA. http://bit.ly/2mxDh24

Paradise Valley Mayor Michael Collins eyes end of political road. “It’s been an incredible run and we’ve accomplished a lot over the past dozen years….“ Paradise Valley Independent talks with “Captain Collins” about accomplishments, the decision to “mov[e] on from the local political arena,” and what’s on the agenda for the “remaining 22 months of his time at the helm.” http://bit.ly/2lYU78A

More Americans want to downsize their homes than supersize them. (Bad Analogy ALERT!… “Sorta like what goes on at 7-Eleven with Slurpees, except the opposite, right?”) “More homeowners would rather have a smaller house than a larger one (37% compared to 23%), according to research from real estate site Trulia.” One major telltale sign that “[s]mall homes are gaining in popularity… [is that] the number of townhouses being built … increased by nearly 13% last year…”  Head to MarketWatch for a breakdown of all the data from the Trulia report. http://bit.ly/2miYtse

Cameron’s $5M + deals of the day – http://bit.ly/2m0uoLg

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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!
Senate votes to give business more time to fix potential disability violation. “SB1198… would require that someone alleging a violation under the state’s version of the Americans with Disabilities Act first give the business at least 60 days to resolve the issue.” Seems reasonable. How could anyone object? One Democratic senator found a way. Find out what the fuss is and read more about the measure in this report from Capitol Media Services’ Howard Fischer at Arizona Capitol Times. http://bit.ly/2lZ24ux

College housing arrives in downtown Mesa. “The dorm is in the former Alhambra Hotel, a 123-year-old building that opened as the Pioneer Hotel…. Venue Projects and Community Development Partners of Newport Beach, California, own the building and renovated it specifically to serve as a dorm for Benedictine [University].” Get further details plus view a snapshot from the ribbon-cutting ceremony (with Benedictine’s mascot Rico the Redhawk joining in) at East Valley Tribune. http://bit.ly/2lxQKlF

GOP lawmakers advance attacks on citizen initiatives. “HCR 2029 would leave in place the existing number of signatures required… [which is] based on a percentage of the number of people who voted in the last gubernatorial election. But it would add the additional burden of having to obtain signatures in each of the state’s 30 legislative districts — and in proportion to the number of gubernatorial votes in each district.” Got that?  So what does it all translate to in terms of signature numbers and percentages?  Howard Fischer does the math for us (thankfully!) and has party-line reactions to the measure, at Arizona Capitol Times. http://bit.ly/2liCX7h

Voters opposed taxpayer-funded hockey arena for Coyotes. “Bert Coleman, the principal in the firm of Coleman Dahm Layeux and the one who completed the survey” puts it this way in Scottsdale Independent: “Make no mistake… Arizona voters are not only opposed to legislation to create a taxing district to finance a stadium, they also believe the Arizona Coyotes should stay put in Glendale.” (BTW, the survey’s margin for error was “3.58 percent,” which, by our calculation, is exactly 96.42 percent less than what the margin of error should’ve been for polls taken in the run up to the  2016 Presidential Election.) Click through for survey results. http://bit.ly/2mxsTYaLike 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.