The Dealmaker: 4/10/2017

Real Estate Q & A: No liability for sellers unless they have knowledge of defects. Rose Law Group Real Estate Litigation Department Chairman, Adam Martinez, discusses the “general rule in Arizona” regarding an “‘as-is’ transaction” and a home seller’s obligation to disclose “material” or “hidden defects” to a buyer. http://bit.ly/2o0QkpJ

New condos coming to Scottsdale’s poshest neighborhood. (But not nearly as many as originally planned.) “DMB is partnering with The New Home Co…. to develop the homes that will be spread over eight buildings…. Sterling at Silverleaf is a revamp of an earlier $350 million project… Senior VP of DMB, Jim Hoselton: “We approached Sterling like a project you would find at a beach or ski area, and refocused it on the site’s spectacular views.” Further details on the “5.8-acre,” “72-home development” at AZCentral. http://bit.ly/2oYpFxC

SALT luxury residences open in Tempe. “The 265-unit class A property was developed by OlliverMcMillan in partnership with Ascentris on a 3.7-acre site… at 260 E Rio Salado Parkway…” Multi-Housing News reports that “the community, formerly dubbed Lofts@Hayden Ferry, offers residents a resort-like atmosphere,” including “two salt-water pools,” “pool-side barbecue areas” a “yoga lawn.” For a “Lakeside luxury” slideshow, tap it –> http://bit.ly/2okfe4J

PhoenixMart makes ‘final direction.’ “A newly revised plat will affect 260 acres and five lots at PhoenixMart…. Because of the different changes to the project over the years, some of the initial design specifications that were originally proposed will have to be modified.” However, as Casa Grande Dispatch reports: “The building will still be aesthetically pleasing” and this is the “‘final direction’ for the project.” http://bit.ly/2nVtLSE

March in and out like a lion in Phoenix housing. “The final results aren’t yet in for Phoenix’s housing market in March, but real-estate analysts and agents are already calling it the third-straight month of a winning streak for sales and prices. And what happens in the Valley’s housing market during March is a good sign of what’s to come during rest of the year.” AZCentral http://bit.ly/2orls4Z

Want to see how America is changing? Property taxes hold the answer. A new report “illustrates the stark difference between [states with] the highest tax burdens and [those with] the lowest,” e.g., “$776 in Alabama in 2016’ vs. “nearly that much every month for the average New Jersey homeowner.” MarketWatch looks at results from the report, including how “Americans are fleeing areas with higher property taxes, making housing markets and local finances more stagnant in those areas.” http://bit.ly/2orho4O 

Arizona’s Best Kentucky Derby Party May 6th at Turf Paradise – http://bit.ly/2oKe99c