The Dealmaker: 9/1/2017

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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

 

 

House hunters find limited options as affordability is squeezed. “Pending home sales slid for the fourth time in five months across the country in July… The picture is similar locally, where inventory in July tightened in four of the five [North Phoenix] zones.” NAR’s Lawrence Yun: “The housing market remains stuck in a holding pattern with little signs of breaking through. The pace of new listings is not catching up with what’s being sold at an astonishingly fast pace.” In NoPhoNews. http://bit.ly/2gpwbao

Tempe historic neighborhoods fight urban expansion. “Half-century and older homes dot a tree-lined Tempe neighborhood less than a mile from where office buildings and condos have shot skyward in recent years. Many of the homeowners there fear the urban redevelopment will creep into their historic enclaves.” AZCentral reports on how “Tempe is discussing creating special tax incentives for homeowners in certain historic neighborhoods in an effort to preserve them.” http://bit.ly/2wpN4uO

[GUEST COLUMN] Alford: Homes for Heroes gives thanks to those who serve. “Created after 9/11 as a way of saying, ‘thank you,’ [Homes for Heroes] brings together real-estate agents, lenders and closing services who reduce their fees for active or veteran military, police, firefighters, teachers, medical professionals or clergy…” In Scottsdale Independent, former Army combat medic Elsie Alford has high praise for Homes for Heroes — she was ‘blown away” by the help she received from the program. http://bit.ly/2iMES2X

Carefree rises to the Easy Street occasion. In this Sonoran News coverage of Tuesday night’s town council meeting, council members hone in on the height of a 134-unit, Easy Street luxury condo — er — apartment complex. http://bit.ly/2xD4SRH

Scottsdale Fashion Square granted opportunity to evolve into 21st Century. Yesterday we mentioned a report about Scottsdale City Council approving the expansion of Fashion Square. Is Dealmaker repeating itself? Not exactly, as today’s piece in Scottsdale Independent digs much deeper into what led up to the council’s approval — a decision that gives the mall’s owner, Macerich — as Councilman Guy Phillips puts it, “their ability to keep up with the times and keep Fashion Square as the tourist draw it is.” (Plus, there’s a pretty cool vintage shot of Scottsdale, circa who knows when.) http://bit.ly/2wYeFEH

Is Scottsdale destination marketplace Old Town or downtown? “That’s one of the questions municipal officials are looking to answer through a new branding awareness effort to bring more people to what some locals call ‘downtown Scottsdale’ while others claim the area as ‘Old Town.’ About 100 interested residents and downtown proprietors [or is it ‘Old Town’ proprietors?] gathered [on] Wednesday to hear the future vision of downtown Scottsdale… Not even two hours passed before the divisive question… had audience members disagreeing.” Scottsdale Independent. http://bit.ly/2wtwQPz

Council discusses how far light rail will come into Glendale. “Representatives from Valley Metro appeared before city council… to discuss the future of the light rail in Glendale. While the chief issue… was where the last stop of the line would be, if and how the line would cross Grand Avenue and where the funds for the project would come from were also factors.” For the recap along with a detailed map of the “Potential End-of-Line (EOL) Locations,” all aboard to YourWestValley! http://bit.ly/2gvjLl3

Pinal officials support proposed road tax. (Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County working to bring new transportation infrastructure to the county.) Casa Grande Mayor Craig McFarland, Pinal County Board of Supervisors Chairman Steve Miller, and Coolidge Mayor Jon Thompson discuss their support of the Pinal Regional Transportation Authority plan that, if approved by voters in November, “would allocate a half-cent sales tax increase along with a list of projects that would be funded with the money.” In Arizona City Independent. http://bit.ly/2eqxXaO

Arizona becomes major developer of technology jobs. (Disclosure: Rose Law Group represents BASIS.) “Technology continues to take over as one of Arizona’s fastest growing economic and business development driver.” In AzBigMedia, Arizona Technology Council President/CEO Steven G. Zylstra provides a “snapshot” of some of the “exciting things going on” in the state’s tech sector, including how Arizona schools — ASU and BASIS — are fostering “talent capable of filling technology sector job openings.” http://bit.ly/2wpRTnY

Queen Creek mayor to help set policies for League of AZ Cities and Towns. “Mayor Barney was elected to the executive committee along with Flagstaff Mayor Coral Evans and Oro Valley Mayor Satish Hiremath during the organization’s annual conference held Aug. 22-25 in Oro Valley.” Queen Creek Independent. http://bit.ly/2wtwqJh

Ryan Winkle unanimously voted off Mesa City Council after DUI arrest“The council decided during the disciplinary hearing that Winkle broke the board’s code of ethics and demonstrated a lack of fitness for office when police say he drove drunk in the early hours of May 7. The hearing, although not a trial, had all of the characteristics of one.” AZCentral. http://bit.ly/2xDo1mI

Post Hurricane Harvey, U.S. lumber import trade agreement needed in massive rebuild efforts.World Property Journal has published a statement issued by National Association of Home Builders Chairman Granger MacDonald “in the wake of Hurricane Harvey and its potential effects on lumber prices as Gulf Coast residents prepare to rebuild after the catastrophic storm.” http://bit.ly/2wpC9Bj

REAL FAKE NEWS – Wells Fargo discovers up to 1.4M more fake accounts. “Wells Fargo has uncovered up to 1.4 million more fake accounts, reports CNNMoney staffer Matt Egan… ‘The additional fake accounts were discovered by a previously announced analysis that went back to January 2009 and that further reviewed the original May 2011 to mid-2015 period.’” Builder. http://bit.ly/2eM3xAq

 



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

[INVESTIGATION] Big talk, little change on Trump’s border. Just before our deadline, the Arizona Daily Star released an extensive investigation into the status of the Mexican border with Arizona. It counters President Trump’s statements that much has changed there. http://bit.ly/2evEioV

Arizona Rep. Franks isn’t interested in running for Flake’s Senate seat.“Republican [Rep. Trent Franks] told KTAR News… that he was not running against U.S. Sen. Jeff Flake in next year’s primary. ‘I sincerely have no intention of running,’ Franks said. ‘… I just cannot see me running against Jeff Flake for the Senate… I think God himself would have to tell me to do it.’ But he didn’t rule out a Senate run further down the road.” –> http://bit.ly/2gvALrg

[IN-DEPTH] Statehouses, not Congress, hosting biggest political money fights. “There’s almost zero chance Congress will this year seriously consider a single bill aimed at reforming the nation’s weakened money-in-politics laws. Going local is a different story: State lawmakers this year [including in Arizona] are engaging in full-throated debate on campaign finance proposals — with some surprising outcomes.” Center for Public Inegrity. http://bit.ly/2gvpqaw

Solar coalition launches to fight solar tariffs. “U.S. Made Solar, a coalition made up of several U.S.-based solar manufacturers, is launching today, and will have a new advertising campaign criticizing [Suniva and SolarWorld] the two companies petitioning for trade protections under the Trump administration and emphasizing ‘all things American’…” See why it matters and get the backstory in this Axios“EXCLUSIVE.” http://bit.ly/2wq52NW

Arizona utility regulators consider adopting ethics policy in wake of controversies. “The [Arizona Corporation Commission] has no ethics policy but is guided by various laws and state administrative codes that pertain to how they conduct open meetings and interact with those they regulate.” Need for such an ethics policy is apparent fairly early on in this article from AZCentral, which reports that the “commission had a workshop on the issue Thursday that… devolved into a shouting match over recent events at the commission.” http://bit.ly/2xDiFYo

IS THERE DOCTORING IN THE HOUSE? Lawmaker files ethics complaint over alleged petition doctoring. “[Rep. David Livingston, R-Peoria] wants Democratic Rep. Isela Blanc investigated by the House Ethics Committee, citing allegations that petition sheets she gathered to block an expansion of school vouchers were doctored… To make that claim, Livingston is effectively accusing Blanc of criminal conduct.” Arizona Capitol Times. http://bit.ly/2eqduTl

Arizona cuts to college student support still among steepest in nation.“The Center on Budget and Policy Priorities said the Arizona cuts [’53.8 percent since 2008, more than three times the national decline’] were the most extreme example of a national trend that has seen a total reduction in state aid of nearly $9 billion over the 10 years, as states scrambled to close budget gaps caused by the recession.” Cronkite News. http://bit.ly/2evun2x

Arizona female high school football player scores TD, kicks PAT. (Don’t worry, “PAT’ isn’t the name of one of her teammates.) “When the small Gilbert charter school [Arete Prep] got to the opposing team’s 1-yard line last Friday night, a 5-foot-3 senior with a red, braided pony tail lined up a few yards behind the center and took the direct snap. Skylar Nicholas followed her blockers up the middle for a touchdown in an 81-28 win… She also kicked nine extra points, and on a kickoff, made a touchdown-saving tackle.” AZCentral calls her “Wonder Woman.” More about her here: http://bit.ly/2vQqPuA

McCarthy Building Companies updates Mingus Union High School Read more

Phoenix Investment Real Estate Market Picks Up After Slow Start Read more

Phoenix Multifamily Market Remains Strong Despite Seasonal Uptick in VacancyRead more

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