Vistancia sells 324 lots to award-winning homebuilders. David Weekley Homes, Gehan Homes, Richmond American Homes, and William Ryan Homes have purchased 324 lots in the “last phase of new home development in The Village at Vistancia community.” William Ryan Homes was the top purchaser, securing 87 53’ x 115’ lots. How purchase numbers shake out for each of the other homebuilders, plus details on Vistancia, in AzBigMedia. http://bit.ly/2wJQRnD
Sedona housing density limits may rise. “If [a major amendment is eventually approved] a portion of the Community Plan would ‘allow densities greater than 12 dwelling units per acre through consideration of projects with strategies for achieving housing diversity, affordability and availability to address local housing needs…” And just how much have current limits crimped high-density development in the area? Sedona Red Rock News reports that “it’s been 17 years since the last apartment complex of more than four units was approved.” http://bit.ly/2xyzQKI
More growth ahead for seniors housing. “Exclusive survey results from the fourth annual NREI / NIC Seniors Housing Market Study indicate a more positive outlook across the board on questions related to improving fundamentals, access to capital and transaction pipeline.” Study highlights and the link to the entire National Real Estate Investor/NIC report, at AZBEX. http://bit.ly/2wSVZq3
Even affordable rentals are too expensive for lowest income tier.According to a recent Zillow analysis, “low-income renters in the 25 largest metropolitan areas are spending much more than what is recommended on rent, even in locations where rentals are priced inexpensively for the market.” Check out how much renters in Phoenix are forking out, at RISMedia. http://bit.ly/2vFBQj1
Land sales accelerated in 1st half. According to a report from Colliers International in Greater Phoenix, “sales rose 11 percent from the second half of 2016, and transactions jumped 50 percent from the first half of last year, [with residential] land sales… count[ing] for more than half of total transactions so far this year.” AZBEX’s Roland Murphy sifts through the report which “anticipates no major surprises in the second half.” http://bit.ly/2vKdMuJ
Arizona doesn’t have enough construction workers; contractors paying higher wages. “[Not] enough carpenters, electricians, framers, painters and plumbers, according to a new study from the Associated General Contractors of America. About 75 percent of the Arizona contractors polled say they are having a ‘hard time’ filling hourly construction jobs.” And here’s how AZCentral’s Catherine Reagor sees it: “Construction workers in Arizona should ask for a raise, if they haven’t already.” http://bit.ly/2iId8fI
Entekra start-up showcases a game-changing home construction model.Over the course of just three days in Los Banos, Calif. last week, three men “erected a fully-framed, 3,200 sq. ft. house enclosure… with fully integrated pre-designed, engineered, and constructed systems trucked [in from] Entekra’s… plant 65 miles to the north.” Builder’s John McManus looks into what “Entekra is and does,” noting that “the trajectory of this start-up could lever some fundamental changes in home construction, design, and engineering workflows that have barely progressed in a century.” http://bit.ly/2woJTlD
Home price gains were hot in June as Seattle sizzled, Case-Shiller says.“Nine cities had stronger annual price growth in June than in May, and western metros remained on top, with annual price gains ranging from 13.4% in Seattle to 7.7% in Dallas. Seattle prices are rising so rapidly that they have left No. 2 Portland in the dust…” And Phoenix? –> http://bit.ly/2vsW6bo
?PURCHASE ‘LIKE IT’S 1999’? – First-time buying surged in 2nd QTR. “First-time home buyers purchased 570,000 single-family homes in the second quarter, compared to 426,000 in the first, marking the highest number of first-time home buyer purchases during a second quarter since1999… A key driver was an improved effort by home builders to build more single-family homes priced between $200,000 and $250,000…” More from the “First-Time Homebuyer Market Report” in Builder. http://bit.ly/2wiVnbM
TOM SELLECK CAN’T BE HAPPY – Trump Administration plans new restrictions on reverse mortgages. HUD Secretary Ben Carson: “Given the losses we’re seeing in the [reverse mortgage] program, we have a responsibility to make changes that balance our mission with our responsibility to protect taxpayers.” The Wall Street Journal reports that these changes will include an increase in premiums and “tighter loan limits on some borrowers.” http://bit.ly/2wTuSeD
SIGNS OF VICTORY – Small businesses, Goldwater Institute win fight over Chandler’s sign codes. “The city of Chandler has rewritten its sign code in response to a First Amendment lawsuit brought by three local businesses. The businesses, which were represented by the Goldwater Institute, have agreed to settle out of court and voluntarily dismiss the case.” PBJ. http://bit.ly/2iJwTUk
Buckeye ranks among top places to live, raise a family. “Houston-based credit agency Elite Personal Finance (EPF) has named Buckeye “one of the state’s top five sites for bringing up a family,” Arizona Business Daily reports. EPF gives Buckeye big ups for “balancing its recent rapid growth with overall public safety.” http://bit.ly/2xMZOtk
Councilman Sal DiCiccio wins re-election to Phoenix City Council.“Incumbent Councilman Sal DiCiccio will serve another four years as the voice of east Phoenix, according to unofficial city-election results. The race between DiCiccio and his opponent, Kevin Patterson, was closer than many expected — including the councilman himself — when initial city-election returns rolled in.” AZCentral (In a related item from ADI: “Prescott Elections Results In, Prop 442, Prop 443 Pass.”) http://bit.ly/2wTbYED
Cameron’s $5M + deals of the day- http://bit.ly/2vFVVWq
N O M B Y! (Not Over My Back Yard!) – Appeals court strikes down controversial Sky Harbor flight paths. “In a 2-1 decision released Tuesday, the U.S. Court of Appeals [D.C.] Circuit agreed with residents and Phoenix officials that the FAA didn’t properly analyze the impact of flight path changes that resulted in a barrage of community pushback after taking effect.” Mayor Greg Stanton: “Today’s decision affirms that FAA needs to go back to the drawing board and do this right.” AZCentral. http://bit.ly/2wTqThU
Judge won’t vacate former Sheriff Joe Arpaio’s contempt conviction without oral arguments. “[U.S. District Court Judge Susan] Bolton on Tuesday stopped short of throwing out [Sheriff Joe’s] conviction based solely on Arpaio’s request. Instead she ordered Arpaio and the [DOJ]… to file briefs on why she should or shouldn’t grant Arpaio’s request.” AZCentral also has the related item: “‘We believe in the system’: Attorneys stage lunchtime protest of Trump’s pardon of Joe Arpaio.” http://bit.ly/2vtb6X3
Trump at war with himself over ‘Dreamers.’ (Or as Trump himself might say, “I’m on the wall about it.”) POLITICO: “As an unofficial Sept. 5 deadline looms, there are growing signs that Trump will decide to phase out the [Deferred Action for Childhood Arrivals] program. But administration officials say he remains conflicted, trying to find a middle ground that balances his instinct to be tough on immigration… and his sympathy for the nearly 800,000 people whose lives could be upended.” http://bit.ly/2vKclfw
Biggs introduces measure to defund key climate research. “Rep. Andy Biggs (R-AZ) submitted an amendment last week to the House Rules Committee for the federal government’s 2018 spending bill that would prevent any appropriated funds from being used toward the government’s National Climate Assessment.” What the NCA does and why it matters, in Axios –> http://bit.ly/2xNms4B
State asks judge to dismiss legal challenge to school finance scheme. “In filing suit earlier this year, challengers charge the state has failed to provide the money needed… for everything from having enough classrooms to providing money for equipment… In legal papers filed in Maricopa County Superior Court, attorney Brett Johnson… said whatever they decide to provide in cash is a ‘political question’ beyond the powers of the courts.” Not so, say challengers. More in this report from Capitol Media Services Howard. http://bit.ly/2wJLGnX
