The Dealmaker: 4/26/2017

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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: Buyer can terminate deed restriction. Curious about the ways to get rid of a deed restriction? Rose Law Group Real Estate Litigation Department Chairman, Adam Martinez, explains how — in this case, with a restriction which “prohibits the construction of two-story homes” — in Rose Law Group Reporter.

Paradise Valley Planning Division maintains foundation of quality of life. “[T]he planning services division represents the heart and soul of the Town of Paradise Valley.” And in this profile of Community Development Director Eva Cutro, Senior Planner Paul Michaud and Town Planner George Burton, Paradise ValleyIndependent looks at recent accomplishments and how the trio is “focused on making sure [the town] continues its illustrious history of reflecting affluence and pride in the community.”

Scottsdale city manager brings conscientious approach to municipal governance. “Current and previous colleagues” heap praise on recently-selected City Manager Jim Thompson, painting him as a man who “walks the walk” and more — which sets the stage for Scottsdale Independent’s interview with the 30-year public-service veteran. “Having worked closely with Jim since he arrived in Casa Grande, I can tell you this guy is a serious do’er. Jim gets things done.” — Jordan Rose

Glendale faces a unique West Valley quandary: lack of space. With Glendale having “no where near the undeveloped land of nearby Surprise or Buckeye” — and actually “getting closer to running out of space” altogether — this AZCentral piece looks into how the “city is attempting to strike a healthy balance between commercial and housing developments.”

Camelback Inn eyes state-of-the art conference center expansion. “The new facility will feature more than 35,000-square-feet of flexible indoor meeting space; plus the building’s floor-to-ceiling windows on all sides will radiate natural light, providing guests with breath-taking views of Mummy Mountain.” Check out the renderings and get further details on what Camelback Inn has planned for its “new meeting and events experience,” at Paradise Valley Independent

Robson Ranch residents peeved at complaints, coverage of outage. “A number of residents… are up in arms concerning the complaints reported by other residents about a water outage [due to pipe repair] in the senior community… Residents claim that sources who contacted Pinal Central are disgruntled and have an ax to grind… For more on the Robson Ranch water-outage ruckus, including emails that flooded in with gripes about PC’s coverage, tap it:

HPI NOT MELLOWING OUT – Home price gains aren’t cooling off. “For the fourth consecutive month, the National Home Price Index [HPI] from S&P CoreLogic Case-Shiller has set a new price peak, rising 5.8 percent in February. It is now a half percentage point above the pre-crisis peak reached in July 2006.” For breakdowns of the Case-Shiller National Index as well as for the FHFA HPI, click through to Mortgage News Daily.

New home sales nearly match post-crisis high. “[S]ales of new homes jumped 5.8 percent in March, to a seasonally adjusted annual rate of 621,000 units. The rate nearly tied that of July 2016, 622,000 units, for the highest sales pace since the housing crisis.” Get all the figures and regional breakdowns at Mortgage News Daily.

New policies could make it easier for student loan borrowers to get a mortgage. “Fannie Mae… is introducing three new policies [which] will provide lenders originating Fannie Mae-approved loans with more options for these borrowers, according to Jonathan Lawless, Fannie Mae’s vice president of customer solutions.” (Okay, but is someone with a last name like “Lawless” really the best person to be speaking on behalf of such programs? OTOH, it’s probably better than someone with a name like “Dave Delinquent,” “Bill Default” or “Fredrick ‘Mac’ Foreclosure.”) Details on the new policies in MarketWatch.

As a supplement to the Dealmaker, we thought you might enjoy these articles!

THE ALT-ROUTE – ADOT schedules 6 public hearings on I-11 alternatives. “The alternative corridor options that will be presented for review were developed from several factors: input from last year’s public and agency scoping period, technical analysis, findings from previous studies, and public comment through emails, calls, mail and the study website.” For more on the “280-mile corridor” plus the schedule for the upcoming hearings, click it:

AIRB ’N’ BASEBALL – City by city, here’s how much cities made on Airbnb during spring training. “Airbnb recently released a bunch of data showing how much local hosts earned during spring training” — and  Phoenix New Times takes a look. —>

Burns takes another shot at unveiling ’14 election spending. “State utility regulator Bob Burns… needs to know — and soon — whether… Judge James Blomo will grant his demand that APS and parent company Pinnacle West Capital Corp. disclose the money it spent in 2014 to try to affect the outcome of the Arizona Corporation Commission race.” Why “soon”? Capitol Media Services’ Howard Fischer reports that, “Burns wants… to see if two of his colleagues should be barred from voting on the company’s latest rate hike request.” More on the story in Arizona Capitol Times.

SRP gets failing grade for transparency of online financial records. “[A] report by the U.S. Public Interest Research Group said the SRP Agricultural Improvement and Power District… failed to make accessible recent budgets or dollar-for-dollar checkbook-level spending…” But, as Cronkite News points out, the “report does not suggest that… SRP [has] done anything illegal — it’s just that, in PIRG’s view, by not posting more detailed finance reports it makes it harder to tell if the utility were acting properly or not.”

Arizona Trump surrogate drew legislative salary but didn’t work. “Stephanie Grisham, a staffer on Donald Trump’s presidential campaign, was supposed to resume her full-time job as a spokeswoman at the Arizona House of Representatives less than a week after he won the election.” Arizona Capitol Times reports that “taxpayers paid Grisham roughly $19,000 over an eight-week period, although she rarely set foot in the state, never showed up for work at the House, and did little to nothing to earn the money.”

Emergency removal imminent of Navajo housing officials who were subject of ‘Republic’ investigation. “Navajo Nation President Russell Begaye is poised to sign… legislation… that would remove and replace the tribal housing agency’s board of commissioners. The emergency bill passed Friday after most board members… refused demands to step down…. [NHA] has become a focal point of criticism for two decades of botched projects, mismanagement and a swollen trove of unspent funds that at one point hit nearly a half-billion dollars.” AZCentral

Blandford Homes purchases Mulberry Master Plan Parcel 5 Read more

Portland on the Park comes alive as new residents move-in Read more

Skanska Completing Work on New Dexcom Facility in Mesa Read more

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