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Builders turn to inventory homes to meet demand for affordable, quick deliveries. (Disclosure: Rose Law Group represents Fulton Homes.) “After 10 years of post-crash restructuring, recapitalizing, and focusing on the move-up and luxury home segments, home builders have been cautiously moving back to spec-home building.” Builder Magazine surveys the spec-home landscape with input from notable homebuilders, including Fulton’s vp of operations, Dennis Webb, who discusses the advantages of his company’s “commit[ment] to inventory homes.” http://bit.ly/2qb8mJj
BEHIND THE SECTION 8 BALL – A problem with prosperity: Fewer landlords participating in affordable-housing programs in Tempe, Chandler. “Affordable housing is becoming harder to find, and properties that historically participated in rental-assistance programs [like Section 8] are starting to opt out. Representatives of cities and non-profits are not entirely sure why that is happening…” AZCentral searches for the answers. http://bit.ly/2r8TfOq
Data center developer buys Mesa land for potential 1 million sf. campus. “DuPont Fabros Technology Inc. has bought a 56.5-acre undeveloped site… near Phoenix-Mesa Gateway Airport” — and Arizona Gov. Doug Ducey and Mesa Mayor John Giles both have high praise for the DFT deal, in Phoenix Business Journal. http://bit.ly/2r8Rcd4
Industrial leads commercial real estate investment sales in Phoenix, Colliers says. “Industrial building sales are leading the marketplace, spiking for the second quarter in a row at the beginning of this year.” For the AZBIGMEDIA “greatest hits” version of this Colliers International research, as well as a link to the full report, click it: http://bit.ly/2qbdy02
A PEORIA COUPLE WALK INTO A BAR FIGHT – 30 feet is a fine line: City, business owners dispute planning case. After opening an eatery, a Peoria couple can’t sell enough food to retain a liquor license. So they decide to seek a “bar liquor license” which doesn’t have such a “food requirement.” Two months later, with the couple well into the planning process, the city informs them that their sports grill “does not qualify” for the license since it sits “170 feet from residential properties” — 30 feet short of the “200-foot restriction.” Read the rest of story in YourWestValley. http://bit.ly/2qa4SaD
Flagstaff City Council nixes Soliere project GPLET. “The request [by Vintage Partners] for the tax incentive would have allowed the developer to recapture $2.5 million in sales tax….” Additionally, according to Arizona Daily Sun, plans from Vintage Partners “for a new shopping plaza would have [also] realigned Soliere [Ave.] and controlled flooding” — like the muddy flow that’s pictured in this article’s headline photo. Check it out. http://bit.ly/2raoIQZ
Fannie and Freddie are nearly out of money, and Washington is getting anxious. “In 2008… the federal government rushed [Fannie and Freddie] into conservatorship…. Nearly nine years later… [they] still teeter on the edge of needing another taxpayer bailout…. Mel Watt, director of the [FHFA] which has oversight over the enterprise… [hinted that] he’ll withhold a dividend payout to keep mortgage companies’ finances healthy.” That didn’t sit too well with some members of the Senate Banking Committee. Check out Watt’s testimony in MarketWatch. http://bit.ly/2qbnwyq
Foreclosure filings at lowest level since height of housing market. Foreclosure filings… hit the lowest levels in April since November 2005, according to a recent report by ATTOM Data Solutions.” The firm’s senior vp, Daren Blomquist, supplies this “big takeaway”: “[F]oreclosure numbers are not just returning to normal…They’re finding a new normal.” For those numbers along with a look at “metros and states [that are] bucking the trend,” tap to Realtor.com®. http://bit.ly/2ptopDT
Cameron’s $5M + deals of the day – http://bit.ly/2qAZxKl
As a supplement to the Dealmaker, we thought you might enjoy these articles!
There isn’t much of a plan yet for Interstate 11, official says. “The committee is in the early stages of identifying possible routes that a future I-11 could take and conducting environmental and cultural impact studies.” Even so, at a public meeting held earlier this week in Casa Grande, ADOT officials “explained the proposed project and solicited feedback from residents” — and Pinal Central has coverage of the “big turnout.” —> http://bit.ly/2r1LSMc
Lawsuit filed to strike initiative restriction law. Per the “Arizona Constitution and a series of court rulings,” do initiative organizers need to only be in “‘substantial compliance’ with state election laws to qualify their proposals for the ballot”? That’s what this suit charges. It seeks to “void” legislation that would require “strict compliance” with every law [and] allow… a judge to quash petition drives for… technical violations.” Capitol Media Services’ Howard Fischer looks at this and other efforts underway to block the measure, in Arizona Capitol Times. http://bit.ly/2qbqVNz
Ethics complaint raises question on Facebook rants. “Republican Rep. Mark Finchem filed a complaint with the House Ethics Committee demanding Democratic Rep. Mark Cardenas be investigated and possibly punished for writing a Facebook post that criticized Republicans for supporting the budget.” So what did Rep. Cardenes post that got Rep. Finchem peeved enough to invoke chamber Rule 19? Find out at Arizona Capitol Times. http://bit.ly/2qahDCb
Arizona not likely to sue banks in wake of Fair Housing ruling. “[L]ocal governments notched a win last week when the U.S. Supreme Court affirmed the city of Miami’s right to sue big banks under the Fair Housing Act. But don’t expect a flood of lawsuits to follow any time soon. The ruling leaves open a key legal question about the burden of proof cities must present to show they were financially harmed.” Governing. http://bit.ly/2pH2ViM
Melissa McCarthy perfectly trolls Sean Spicer for hiding in bushes [VIDEO CLIPS]. The following TV-viewing heads-up comes courtesy of TheHuffington Post: “McCarthy… posted herself on Instagram Thursday going crazy as Spicer, along with the caption, ‘Straight out da bushes.’… The actress is hosting ‘SNL’ this week, and in addition to the Instagram post, she also recently starred in a promo video where she turned into Spicer while lip-syncing, ‘I Feel Pretty.’” http://bit.ly/2r94uGB
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