The Dealmaker: 5/10/2017

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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

Phoenix Real Estate in April: Sales up 5%, inventory down 11% YoY; real estate consultant Jim Belfiore elaborates. Calculated Risk’s Bill McBride delivers Residential Sales and Inventory figures for April 2017, noting that it was the “sixth consecutive month with a YoY decrease in inventory following eight months with YoY increases.” Meanwhile, Jim Belfiore looks down the road, giving us his company’s new-home price projections for this year and next.—>

Tucson housing momentum continues. “The Land Team of Dan Feig and Aaron Mendenhall at Chapman Lindsey Commercial Real Estate Services” analyze everything from permits to inventories to new projects in the pipeline. And while their Tucson “Market Overview” in Real Estate Daily News is mostly upbeat, it is tempered somewhat by an observation that paves the way for this KEY QUOTE: “The effects of the Great Recession are still in the back of everyone’s minds.”

OUR SENTIMENTS EXACTLY – Housing sentiment springs back from March loss. “Fannie Mae’s Home Purchase Sentiment Index… rose 2.2 percentage points in April to 86.7. The index was rebounding from a March dip and gained 3.0 points over its level in April 2016.” Get consumer survey results for all HPSI components (“good time to sell,” “good time to buy”; expectations for home prices, mortgage rates, and personal finances), at Mortgage News Daily.

City of Apache Junction may not have to go to polls every 4 years for home rule vote. “[R]esidents since 1985 have voted and approved every four years a home rule option allowing the budget to be set at the local level [as opposed to ‘using the state statute’ which ‘limits the city to the expenditure of estimated available revenues’].” The City Council is now floating the idea of a “permanent base adjustment budget that would be approved in one election by local residents and would be adjusted annually by population and inflation.” If you’re a bit fuzzy about what exactly a “home rule option” is and why not having to vote on it quadrennially matters so much, this report from Apache Junction Independent should clear it up

Carrie Dyrek appointed interim Cave Creek town manager. Last week, council voted not to renew Town Manager Peter Jankowski’s contract for another year. Yesterday, council settled on a payout amount for the remainder of Jankowski’s contract and then voted to “appoint Town Clerk Carrie Dyrek interim town manager.” And the first order of business for interim Town Manager Dyrek? “[Get] those bleachers removed from the rodeo grounds!” (Emphasis is ours. The report is from Sonoran News.)

Cameron’s $5M + deals of the day –

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

McCain says Trump firing FBI director ‘confirms need’ to investigate Russian election interference. A “disappointed” Sen. John McCain and a ‘baffled’ Sen. Jeff Flake weigh in on President Trump’s firing of FBI Director James Comey on Tuesday — McCain in a statement, Flake (fittingly) with a tweet — in this report from TucsonSentinel.

Senate passes Flake-McCain tribal water bill. “The Senate last night passed a bill introduced by U.S. Sens. Jeff Flake (R-Ariz.) and John McCain (R-Ariz.) to fully implement the White Mountain Apache Tribe Water Settlement; an agreement that clarifies the use of certain water settlement funds by the White Mountain Apache Tribe for construction of the Miner Flat Dam.” Prescott eNews.

Solar could replace Navajo Generating Station power, but not its jobs. “Solar power advocates say a… renewable-energy facility could be in place in time for the late-2019 closure of the Navajo Generating Station… But that’s too soon for the Navajo and Hopi.” Navajo Nation spokeswoman Meghan Cox: “Between the [Kayenta] mine and [Navajo Generating Station] we have over 3,000 indirect jobs…. A solar field won’t come even close to that.” Have the Navajo totally ruled out solar? Not at all. Cronkite News reports that, right now, “the tribe wants to consider other options.”

Deal on election dates expected to bring quick end to legislative session. “A deal struck on a bill to consolidate election dates likely allows the Arizona House and Senate to avoid a flurry of late night voting on Thursday night, all due to the absence of [Sen. John Kavanagh] off in Louisiana. [Sen. Kate Brophy McGee’s] was the final vote necessary to approve [SB 1152]. Had [she] remained opposed, the Senate would’ve simply waited her out.” What “assurances” did Brophy McGee get in “exchange for her yes vote”? Find out at Arizona Capitol Times.

School officials threaten lawsuit over proposal forcing them to raise teacher pay. “The Arizona School Boards Association said the amendment by House Speaker J.D. Mesnard would violate the terms of the settlement in Cave Creek v. DeWit, the long-running case over inflationary funding that was settled with voters’ approval of Proposition 123 last year…. Mesnard said he wanted to offer the amendment to make a point that schools already have the money to provide consistent teacher raises…” Arizona Capitol Times.

Renovated Sun Devil Stadium could be a candidate for a naming-rights deal. “Sun Devil Stadium is in the midst of the second phase in a three-stage, $268-million renovation project. When complete, ASU will have an upgraded facility that could be attractive to companies looking for a naming-rights deal on a stadium.” Cronkite News looks into some of the possibilities. (Here’s one that came to mind: With the marijuana industry exploding, a naming-rights deal for “Kush Field”  could be a gold mine!)

Rose Law Group Reporter’s Top 10 Bills That Weren’t Given Hearings in The 2017 Legislature. Check out this wacky list of legislative items put together by Senior Writer/Reporter Phil Riske.

Rosewood Homes Wins “Small Volume Builder of the Year” Award at 32nd Annual MAME Awards Read more

Blandford Homes purchases Mulberry Master Plan Parcel 5 Read more

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

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