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The Dealmaker: 3/8/2017

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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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Growing Loop 303 business park in Goodyear expected to bring more jobs. “Dick’s Sporting Goods, REI, Bimbo Bakeries… humongous buildings along Loop 303… part of a growing effort to attract industrial employers…” And, according to this AZCentral report, the effort is paying off. Says one city official: “‘[In] 2010, there were no [industrial] businesses… But [now] there’s almost 1,000 jobs’ … The prime spot has caused some companies to consider relocating… from as far west as California…” (Which, in the CONUS, is pretty much “as far west” as you can go.) In any event, great news for Goodyear! http://bit.ly/2mGoCBi

Rail may erase one of Mesa’s deepest scars. CBS’ 60 Minutes… Randy Bailey and his brake shop… [A] “prime corner in downtown Mesa”… A “nasty spat”… Eminent domain… Mesa’s light rail line. What do they all have to do with the proposal for a “five-story, mixed-use complex” at Country Club and Main? Get the story in East Valley Tribune. http://bit.ly/2mGkBg8

Confidence surges in national housing survey. Mortgage News Daily’s Jann Swanson: “The February… (NHS) might have broken a record for breaking records. [Fannie Mae’s] Home Purchase Sentiment Index… increased… to 88.3, an all-time high. Five of the six components… also set survey records.” Fannie Mae Senior VP and Chief Economist Doug Duncan: “Millennials showed especially strong increases in job confidence and income gains…” But that doesn’t necessarily mean ‘Millies’ are going to be able to pick up and “move out of their parents’ homes” anytime soon. Click to see what “constraints [they’re] facing.” —> http://bit.ly/2mjtol

Measure S roundly rejected by LA voters. “The contentious anti-development ballot initiative Measure S has been roundly rejected by voters. …Measure S would have limited large-scale development by placing a two-year moratorium on all projects seeking exemptions from the city’s planning laws.” LAWeekly. http://bit.ly/2mGhntd

WHAT’S GETTING HPI SO HIGH? – Ahead of the Curve: Home price growth outpaces inflation. “Home prices continue to chart growth, rising on an annual basis to outpace inflation, according to CoreLogic’s recently released Home Price Index (HPI) for January 2017. Prices increased 0.7 percent month-over-month and 6.9 percent year-over-year.” CoreLogic Chief Economist Dr. Frank Nothaft says that what is “driving momentum ahead of the curve” is a “potent mix.” Get the ingredients at RISMedia. http://bit.ly/2lZ2sWz

Study finds social networks influence home buyers. “In a recent REALTOR® University Speaker Series presentation, Dr. Johannes Stroebel [finance professor at NYU Stern School of Business] presented research about the influence of social networks on buyers’ home purchase decisions.” Read about the study, or, if you have some time on your hands, WATCH Dr. Stroebel discuss the results in his nearly one-hour video presentation, at REALTORMag. http://bit.ly/2nf0PVR

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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!
NHL commissioner: Coyotes ‘can’t and won’t’ play in Glendale. NHL Commissioner Gary Bettman: “The… current location is not economically capable of supporting a successful NHL franchise…. The Arizona Coyotes must have a new arena location to succeed. The Coyotes cannot and will not remain in Glendale.” KPNX 12. (Like the kid on the playground who sulks off, heading home with his ball when things don’t quite go his way, it looks like the Coyotes are bound and determined to do the same, taking their pucks and going… where exactly? Stay tuned.) http://bit.ly/2mmiUn3

Galvanize opens its Phoenix campus; 48 companies relocating to Warehouse District. “[T]he learning community for technology… opened its educational and co-working campus Feb. 20 to host the opening day of… Startup Week…. The Phoenix campus is a 55,000-square-foot, two-story building with a basement… in a renovated produce warehouse at 515 E. Grant St.” Check out the list of companies moving in and view a 16-image slideshow of the campus, at Phoenix Business Journal. http://bit.ly/2mm8L9W

Central Arizona Project a political party? No way. “The State Legislature struck down a bill that would have made the non-partisan… (CAP)… function under a political party label. …Mark Finchem (R) of Oro Valley proposed… (HB) 2112, also known as the Water Partisan Bill. …Finchem has said the purpose… was… to increase funding to help make canal water cleaner. The bill failed… But Finchem wants to bring it back for reconsideration.” (And if the bill passes, then what? Renaming the Grand Canal to the Grand Old Party Canal?) More on this bill in Mesa Legend. http://bit.ly/2mGvw9H

Ducey inks bill to protect Lake Mead water. “Gov. Doug Ducey has signed legislation to ensure Arizona keeps extra water saved in Lake Mead. Doug Dunham with the Department of Water Resources says this legislation will ensure that water goes to the right user.” Further details in Rose Law Group Reporter. http://bit.ly/2mm73W2Like 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.