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New-home sales get a big boost. “Rising interest rates, and the expectation home prices will rise soon, spurred a lot more people to buy new houses in metro Phoenix during the past month.” AZCentral’s Catherine Reagor explores the “Solid indicators” and gets an assist from real estate consultant Jim Belfiore, who gives his take on demand, prices and construction costs. http://bit.ly/2rhcdDS
Commissioners against more homes at StoneHaven, request goes to Glendale Council. “Pulte Homes… is willing to invest $450 million to get [StoneHaven] off the ground but feels there is not enough flexibility in the land use to justify the investment… Now it is up to the City Council to decide… [if an increase in density is] needed just one year after the 395-acre project at the [NE] corner of 91st Avenue and Camelback Road was approved.” YourWestValley. http://bit.ly/2rkidO7
Mesa ponders tie-in to Tempe project, and Fiesta light rail. “Mesa has long been interested in running the [Tempe] line eastward to the Chicago Cubs’ spring training stadium and the next-door Riverview shopping district…. The idea of pushing light rail through the Fiesta District into Chandler also has been under consideration for years.” But, based on how much it “agreed to spend to study” these “two possible transit projects,” this time, Mesa means business. Read more in East Valley Tribune. http://bit.ly/2rBhrx4
Rezoning OK’d at Hughes Place subdivision in Apache Junction. “The Apache Junction City Council at a meeting May 16 voted to approve a corrective rezoning of Hughes Place subdivision on Ocotillo Drive between West First Avenue and West Broadway Avenue.” Apache Junction Independent reports that “this subdivision… has been incorrectly zoned dating back to the city’s incorporation…” (Seriously? Since 1883??) More here–> http://bit.ly/2rgQFHk
Construction activity to start for future Tucson Caterpillar HQ. “The Rio Nuevo Multipurpose Facilities District voted to spend $52 million to bring Caterpillar Inc. to Tucson. Another $4 million was provided by the Arizona Commerce Authority, making the offer one of the largest in recent state history.” Arizona Daily Star has construction details along with sitemap and shots of the location “near downtown” that “will soon be abuzz with activity.” http://bit.ly/2r7VNis
[OPINION] 9 signs the housing market will only get hotter in 2017; real estate consultant Jim Belfiore zones in on Metro Phoenix ‘momentum.’ In MarketWatch, InvestorPlace editor Jeff Reeves explains why he’s “convinced the housing market has nowhere to go but up,” while in Rose Law Group Reporter, Jim Belfiore fills us in on where the “focus is now” for Valley homebuilders, now that the “long, post-housing bubble slog is over.” http://bit.ly/2rRKH2c
The great outdoors is the next big market strategy for master planned communities. “New Ruralism defines the day, and developers are keen to maximize density and streetscape design in order to minimize both the visual and environmental impact on nature, all while offering residents front-door access to the great outdoors.” Builder takes a look at one such community in Colorado: The 12,000-home, 3,400-acre Sterling Ranch, where buyers can “live the nature of [their] surroundings.” http://bit.ly/2qyoe6o
U.S. home prices to rise at a strong pace on tight supply: Reuters poll. “This is the fifth straight quarterly Reuters poll in which analysts have bolstered their view of higher prices in 2017.” Says one economist: ”Healthy demand and low inventory continue to place upward pressure on home valuations… Those trends look to remain in place in the near term and therefore continue to underpin solid, single-digit home price increases.“ http://bit.ly/2rkAElC
Big drop in mortgage rates juices refinances, but doesn’t seduce buyers. “Volume remained 30 percent below the same week one year ago, when interest rates were even lower.” MBA’s Lynn Fisher: “Despite favorable rates and labor market trends, the purchase market is struggling to accelerate…” Tap through for this report from CNBC, along with a related item: “Foreclosures keep falling, but housing won’t be back to normal for at least another year,” which looks at the latest data from Black Knight Financial Services. http://bit.ly/2r83DZA
Most millennials want homes, but don’t have even $1K in down payment. That’s just one of several stunners in this Realtor.com® report on the findings from an “Apartment List survey… [of] 24,000 millennial renters…” Here’s another: “Young buyers [in San Jose, CA] are expected to need at least 24 years to come up with 20% for a condo in the metro area. Twenty-four years!” Crazy. http://bit.ly/2qwTpDh
Cameron’s $5M + deals of the day – http://bit.ly/2qD7lXs
As a supplement to the Dealmaker, we thought you might enjoy these articles!
Government and business cooperation regarding cybercrime investigations. Recently a client asked: “The FBI wants my help with investigating a cybercrime against my business. What do I do?” In Rose Law Group Reporter, Lauren Reynolds and Daniel Gauthier, who are focused on cybersecurity and privacy issues, discuss “three important considerations” that this question raises. They involve “timing,” “losing control” and “regulatory risk and civil liability.” http://bit.ly/2qkv7YZ
Florence residential population growing. Assistant Town Manager Jess Knudson: “We are seeing an increase in residential population, in part for the positive things occurring in the community.” Which Florence communities are experiencing the most growth? Head to PinalCentral to find out; plus, get info on building permit activity that would seem to reflect the U.S. Census’ growth estimates. http://bit.ly/2rkjswC
Texas poised to allow adoptions to be blocked on religious basis. “The bill would allow agencies to deny adoptive services to gay and lesbian couples, unmarried couples or non-Christians. Supporters of the bill say it expands the range of service providers, and that gay couples could still adopt elsewhere. Critics call it state-funded discrimination.” The Wall Street Journal. http://bit.ly/2rklWez
THE HEALTHCARE MARKUP PLACE – Arizona health insurance premiums almost tripled since 2013. “[That’s] the fourth-biggest increase among the 39 states that participated in [the Healthcare Marketplace], according to new data from the Department of Health and Human Services. Arizona’s 190 percent increase meant a monthly premium increase of about $400 to a consumer in the state, to $611…” Cronkite News. http://bit.ly/2siNsWY
Studies on Navajo coal plant’s future poles apart. “As tribal lawmakers, federal agencies and private industry continue to work out a plan for the future of Navajo Generating Station near Page, energy analysts have come up with their own assessments of the economic viability of the power plant. Check out respective assessments from Navigant Consulting, SRP, Synapse Energy Economics, Institute for Energy Economics and Financial Analysis, and National Renewable Energy Laboratory — at Arizona Daily Sun. http://bit.ly/2qCV6u1 |
