The Dealmaker: 7/28/2017

EXCLUSIVE: Phoenix Metro housing demand high, but affordability lacking. That’s just a small sampling of what Jim Belfiore, founder and president of Belfiore Real Estate Consulting, told an early morning gathering of homebuildersand industry professionals. Callan Smith covered yesterday’s event and has the full recap up at Rose Law Group Reporter. http://bit.ly/2u5hQVn

3.88 acres at The Watermark | Tempe sold for $14.7 million. “Aura at Watermark… will offer 360 luxury apartments. The seven-story building will offer 23 floor plans with units ranging from 582-square-foot (sf) studio apartments to 2,282 sf penthouses.” Real Estate Daily News reports that the buyer was “Dallas-based Trinsic Residential Group.” More on this deal along with “amenity set” details, here: http://bit.ly/2u5QFK6

Bonita Ranch plan raises ire of nearby county residents. “Despite concerns [regarding density, well depletion, dust, coyotes — oh, my!]  from neighboring residents in Maricopa County, the Surprise [P&Z] Commission unanimously recommended approval for all three parcels of Bonita Ranch, a medium-density development mostly surrounded by the larger Rancho Mercado [PAD] in the city’s northern reaches.” However, there are others in this YourWestValley piece who don’t seem quite as troubled by the development. –> http://bit.ly/2u5cLMU

Third phase of The Phoenician renovation is outlined. Experience AZreports that construction will begin next month on a new two-story Athletic Club.  Among the amenities: Seven tennis courts, two pickleball courts and one basketball court; 2,100-plus square-foot Activity Center; retail shop and refreshment area with grab-n-go items — and that’s just on the ground floor!  For second level amenities along with an illustrated aerial view of the completed project grab a racket and hustle over to AzBigMedia. http://bit.ly/2vesmP2

Scottsdale Fashion Square renovations show dedication to brick-and-mortar. “Nationally, and in Arizona, many malls have been struggling as e-commerce takes the retail world by storm… [But the] renovations at Scottsdale Fashion Square show a mall willing to continue to provide the experiential retail experiences of the future” — renovations which are probably best summed up by the captions accompanying the renderings in this AzBigMedia report: “Scottsdale Fashion Square is turning its north entrance into its main, luxury entrance”: “Scottsdale Fashion Square’s north entrance will have new restaurants surrounding the drive in”; “The mall’s current elevators and escalators will be removed.” Check it out! http://bit.ly/2v70yeP

SLOW GIN – Maricopa to build in three new areas, but no timeline set. “[These are] the three top areas for economic development: Estrella Gin Business Park, the area surrounding Copper Sky Recreation Center and the 12 acres of available land around City Center.” As for the Estrella Gin Business Park, PinalCentral reports that the city recently “moved forward with plans to develop” it, but that “progress will be slow.” http://bit.ly/2tKGk70

Prescott entertainment district would allow council to grant liquor licenses closer to schools, churches. “Liquor establishments and schools/churches in… downtown… could be allowed to get a little closer soon, if the city moves ahead with a proposed new entertainment district.” (A proximity that could definitely put club-goers into dicey situations should they ever be too loud in ordering a ‘Sex on the Beach.”) For a recap of the July 25 presentation on the ”newly configured proposal,” click through to The Daily Courier. http://bit.ly/2u5nJlj

Homeseller profits hit highest point in a decade; metro Phoenix outperforms national average. “Homeowners who sold their home during the second quarter gained an average $51,000, the highest average price gain for home sellers since the second quarter of 2007’s $57,000.” Get ATTOM Data Solutions heat-map results for metro Phoenix and other area’s in Arizona that “produced the highest average gains” — at HousingWire. http://bit.ly/2tKGwmK

Eight Phoenix-area cities among best places to rent. “To determine its overall rankings [of the ‘best spots in the nation to rent,’ WalletHub] used a two-factor system divided into rental market affordability and quality of life” — and Scottsdale topped the list! See where the other cities ranked and find out why Gilbert and Glendale “received a special mention from the site,” at KTAR. http://bit.ly/2tK437r

Tight inventory, emerging trends shape the pockets of the metropolitan housing market. Four real estate insiders weigh in on the Valley’s housing market and the “emerging housing desires,” in Scottsdale Independent. http://bit.ly/2v504pX

Realtor.com®: Chandler among 10 best for affordability, schools. Congrats Chandler! Check out Chandler’s rank and the rest of Realtor’s list of the “top Affordable Towns with the Best Elementary Schools,” at AzBigMedia. http://bit.ly/2v755O3

Dealmaker BONUS: Prescott home billed as world’s tallest fails to draw winning bidder at auction. “A 124-foot-tall house in Prescott called the ‘world’s tallest home’ didn’t sell at high-profile auction… [and] is back on the market for $1.45 million.” For an inside look at the place (slideshow plus a one-minute video tour) click to AZCentral. (And for a humorous look at the place, see below.) http://bit.ly/2tKmWqJ

Dealmaker ‘Tall Home’ BONUS: Rose Law Group Reporter Top 10 Reasons Tallest Home in the World hasn’t sold. “A 10-story-high Prescott mansion billed as the world’s tallest home has been for sale for months, with no takers.” Senior Reporter/Writer Phil Riske spells out ten reasons why. –> http://bit.ly/2tKx8Qb

How McCain tanked Obamacare repeal. “Paul Ryan couldn’t persuade him. Neither could Mike Pence. And in the end, President Donald Trump couldn’t reel in John McCain either… Shortly before 1:30 a.m. Friday, McCain strode to the well of the Senate, and gestured his hand downward to vote ‘no.’ Stunned gasps echoed throughout the chamber.” (And as that happened, it’s easy to imagine President Trump watching and then delivering a hand gesture or two of his own.) The story in POLITICO. http://bit.ly/2v76Rin

Jeff Flake plants a flag. “In a few days [Sen. Jeff Flake] comes out with a book called ‘Conscience of a Conservative,’ which is a thoughtful defense of traditional conservatism and a thorough assault on the way Donald Trump is betraying it,” writes New York Times columnist David Brooks, who talks with Sen. Flake about the book and praises the Arizona lawmaker for the “stand” he has taken in refusing to “collaborate with the Trumpian path.” http://bit.ly/2tKHfEu 

House OKs spending bill with border wall funds, other amendments; Arizona votes outlined. “The measure ultimately passed 235-192 largely along party lines, with Democrats complaining that the process had been ‘rigged’ to get the border wall funding [‘$1.6 billion to begin construction’] as part of the larger bill, with no opportunity to get a separate vote on the wall.” Cronkite News. http://bit.ly/2veXcae

GENERATING A ‘LITTLE’ REGULATORY INGENUITY – Corporation commissioner: Market change forcing regulators to adapt. “Arizona Corporation Commissioner Doug Little took part in a forum in Washington this week, where he said regulators are being forced to rethink the way they do their jobs to keep up with the dizzying pace of change in the power-generation industry.” Cronkite News. http://bit.ly/2v4JPcl

Arizona growth forecast to outpace rest of nation. “Arizona’s economy will expand 2.6 percent this year and 2.8 percent in 2018, topping U.S. growth estimates of 2.2 percent both years, according to a quarterly study by BMO Financial Group…” More study highlights at AZCentral, including what BMO says are Arizona’s strongest and weakest economic components, along with where the study ranks in terms of “business conditions,” i.e., “housing,”  “job market,” and “state finances.” http://bit.ly/2vQTL6W

Federal judge denies state officials access to Democratic voter data. “In April 2016… Democratic Party interests called on a federal judge to reassess the way Arizona handles voting procedures and laws… [alleging] “a culture of voter disenfranchisement’… Secretary of State Michele Reagan and Attorney General Mark Brnovich requested access to numerous privileged documents from the [the national and local Democratic Party] on the basis that the documents contained ‘highly relevant information.’” Earlier this week, a judge rejected that request. More in Arizona Capitol Times. http://bit.ly/2vQAUIW