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The Dealmaker: 3/9/2017

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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.
 

 
 

 
Real Estate Q & A: What’s the deal with adverse possession? A rather timely topic given recent developments dealing with the Tempe ‘squatter.’ This case, however, involves a “neighbor… encroaching on [another’s] property… for 5 years… by as much as six feet in some areas.” Rose Law Group Real Estate Litigation Department Chairman Adam Martinez cites a “major element necessary to establish adverse possession,” and looks at one way to “prevent” adverse possession from occurring, at Rose Law Group Reporter. http://bit.ly/2m6WBz9

Study: Pinal replaces Maricopa as county with best mortgage market. “SmartAsset… compared the state’s 15 counties… by calculating four factors: overall borrowing costs, rate of securing a mortgage, property taxes and annual mortgage payments.” Pinal Central has the results, including where Pinal ranks among other counties across the country. (The report also maps out the rankings for each county in Arizona. Sure, it’s no fancy, high-tech “heat map,” but it gets the job done.) http://bit.ly/2m4eXjD

PhoenixMart’s shell to be completed by end of month. “Construction crews have been working continuously… erecting walls and installing underground utility connections…. Over the next six quarters, the company is projecting to construct exterior perimeter walls for the main PhoenixMart building, continue infrastructure improvements and work on parking and landscaping finishes.” And “[i]f the project stays on this track,” what are AZSourcing’s “hopes” for an opening date? Find out and get further details on the construction progress, at Pinal Central. http://bit.ly/2njtj0x

Business leaders join to solve Westworld of Scottsdale power line predicament. (Disclosure: Rose Law Group represents the property owners seeking to bury the power lines.) “Arizona Public Service announced about two years ago it was examining a route for a new 69-kilovolt electrical power line… The study area raised the eyebrows of tourism aficionados, real estate developers and local property owners who feared power lines running with the skyline of WestWorld of Scottsdale… could tarnish the luster of the event hub while bringing down adjacent property values.” See the latest developments in Scottsdale Independent. http://bit.ly/2lI7iMB

Goldwater Institute, Angel’s Trumpet suing Phoenix over GPLET deal on apartment tower. “The project… is a proposed $36 million, micro-housing, 19-story apartment tower called The Derby Roosevelt Row. Last March, the Phoenix City Council approved the GPLET deal with the project’s developer Amstar/McKinley… The GPLET deal is projected to save the developers $8 million over 25 years.” What’s behind Goldwater’s challenge? An Institute attorney sheds some light, in Phoenix Business Journal. http://bit.ly/2m7cPs7

Positive difference defines city’s growth, future, says Glendale mayor.  In his recent state of the city address, [Mayor Jerry] “Weiers focused… on five areas of success: fiscal responsibility, economic development, public safety, quality of life and veteran services.” One major highlight from the address?  According to coverage in Glendale Star, “the West Valley will grow at nearly twice the rate of the East Valley and Phoenix over the next 35 years.” Much more from the mayor’s address here: http://bit.ly/2n4fmaI

Southwest Airlines making $40 million investment in Sky Harbor. “The… airline announced… it will occupy a new [‘eight-gate’] concourse at the airport’s Terminal 4 and will invest more than $40 million to expand its maintenance facility….” Further details, including when we can expect to hear: DING! “You’re free to move about the new concourse”  — at Phoenix Business Journal. http://bit.ly/2mFxM0i

Average loan size for purchase applications hits all-time high. “MBA’s Weekly Mortgage Applications Survey… for the week ending March 3… showed that the average loan size for purchase applications was $313,300. That’s the highest that figure has been during any week since the MBA began conducting its weekly application survey in 1990.” What about the overall picture for mortgage apps and figures for REFI’s, ARM’s, and “Veteran Affairs’ share”? Any other new highs? Find out in HousingWire. http://bit.ly/2m79Uj4

Jim Melikian is True West’s “Best Western History Collector” of the year. “Normally, the 61-year-old Arizona businessman scoured auction catalogs for items he’s been collecting since he was a teen — religious artifacts from around the world, pieces of Latin-American and black history, precious items from the life of Muhammad Ali…. Yet here he was, in June 2016, salivating through 124 pages of the Legends of the West catalog by Heritage Auctions, and a whole new world of possibilities was opening up to him.” Pretty cool profile of Jim — his collecting habit and details of his rare Tombstone find — inTrue West Magazine. http://bit.ly/2mLk1xJ

Cameron’s $5M + deals of the day – http://bit.ly/2mnpTdZ
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!
High court to hear minimum wage challenge. “The state’s business community will take its last-ditch effort to kill a voter-approved minimum wage hike [Proposition 206] to the Arizona Supreme Court Thursday.”  But, as Capitol Media Services’ Howard Fischer points out, ”it remains to be seen whether the business groups… can get the relief from having to pay their workers more — even if their lawyers actually win.” Find out why, at Arizona Capitol Times. http://bit.ly/2naJaze

Former Congressman Ron Paul champions gold and silver tax-break bill. Should the government be able to “take its share when someone [buys] a coin [for] $300 [and] later sells it for $1,200”?  Not according to Ron Paul, who “told the Senate Finance Committee it’s not fair or even legal” and “urged [them] to let coin collectors and investors escape the state’s capital gains tax… Paul’s testimony helped buttress similar claims by Rep. Mark Finchem… who already has ushered the tax break in HB 2014 through the House. The result was the Senate panel giving its OK … and sending it to the full Senate.” But will Gov. Ducey approve “such a change in tax law”? Howard Fischer reports (who else?) at Arizona Capitol Times. http://bit.ly/2mLdNhb

How states compare on a critical jobs measure; see where Arizona stacks up. “One of the most telling measures of a state’s economy is the employment-to-population ratio for those in their prime-working years…. Economists consider the prime-working age employment-to-population ratio a fairly reliable economic indicator that doesn’t suffer from the same obvious shortcomings of more commonly cited measures.” Read the report and get state-by-state breakdowns at Governing. http://bit.ly/2naK2nr

[COMMENTARY] I am man, hear me roar. Check out Senior Writer/Reporter Phil Riske’s ode to yesterday’s International Women’s Day, in Rose Law Group Reporter. http://bit.ly/2mq1Dt

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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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.