The Dealmaker: 10/17/2017

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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



THE GREAT ‘ESCAPE’ – P.B. Bell community honored with nationaldesign award. “[P.B. Bell’s Phoenix] community Escape, designed by Lawrence Lake Interiors, was honored with an American Society of Interior Design award… This is the second consecutive year that a collaboration between Lawrence Lake Interiors and P.B. Bell has earned an ASID award.” Award details, plus other honors the 16th Street and Highland community has received, at AZRE.

The Town of Paradise Valley is selected for a Voice of the People Award. “The National Research Center has selected [PV] as a winner of the Voice of the People Award for Excellence in Foundations of Livability… [T]he award is given to top performing jurisdictions that best listen and act for their communities’ benefit, which is a category receiving the highest ratings compared with all other participating jurisdictions based on community residents’ responses on the National Citizen Survey.” Get all the glowing survey results at Paradise Valley Independent. 

Six in ten new homes are built in community associations. <– That, according to the “Census Bureau’s Survey of Construction (SOC),” which also found that, in 2016, “the highest share [of homes ‘built within a community or homeowner’s association’] was in the Mountain Division (Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming)…” The figures along with a link to the full SOC at Eye On Housing.

Kindred cities: Affordable alternatives to your favorite pricey places.“[T]he realtor. com® data team distilled the true character of some of the nation’s most expensive metros, to find budget-friendly — and unexpected — counterparts around the country.” What Arizona city is kin to Miami, Florida? Tap through for the full list of “Metro Matchups™.”

Phoenix real estate in September: Sales up slightly, inventory down 10% YoY. Calculated Risk’s Bill McBride returns to the Dealmaker lineup with the latest Residential Sales and Inventory figures. Bill reports that September is the “eleventh consecutive month with a YoY decrease in inventory, and prices are rising a little faster this year.”

Pollack: Slow week for economic news. Or so The Monday Morning Quarterback would have us believe. But this headline is really just a bit of misdirection, a play-action pass if you will, as MMQ finishes strong, putting plenty of numbers up on the board — data not only from the “national Blue Chip economic forecast,” but also for these ‘Snapshots’… U.S.: Consumer Sentiment & Prices, Retail & Food Sales, Manufacturing & Trade, Mortgage Rates. AZ: Home Sales Prices – Greater Phoenix & Tucson.

Even lizards can’t stop South Mountain Freeway, ADOT says. (Note: The subject matter of this news item has no relation whatsoever with a certain reptile from Hollywood that, according to reports, recently arrived in Arizona for treatment.) “Some lizards living around Pecos Road apparently won’t have to wait for a federal appeals court ruling on efforts to stop the South Mountain Freeway. [ADOT biologists] hunted down chuckwallas and gave them new homes.” Details on how the captures went down, plus an update on the freeway legal battle, in Ahwatukee Foothills News.

Mohave County supervisors to consider 150 acre donation. “The Mohave County Board of Supervisors will discuss and possibly accept an offer from Marvin and Inger Lustiger to donate 150 acres of land in Dolan Springs to be used for county and public purposes, contingent upon the property’s appraisal.” The Daily Miner.

Dealmaker BONUS: Bidding war: Amazon HQ search puts cities in frenzy. “The highly publicized contest [a “free-for-all” as one Arizona commerce chief calls it] has stoked urban pride as well as urban insecurities, as municipalities evaluate their strengths and weaknesses in hopes of landing up to 50,000 high-paying jobs and an incalculable boost in prestige.” AZCentral looks at some of the “Gimmicks and grassroots efforts” that are being employed by cities around the country in an attempt to attract the online retail giant.  

Cameron’s $5M + deals of the day –

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

McCain calls on U.S. to lead world, reject ‘spurious nationalism.’“[Sen. John McCain’s] remarks came during a ceremony that veered from humorous to serious as the Arizona Republican was awarded the National Constitution Center’s Liberty Medal, to recognize those ‘who have strived to secure the blessings of liberty to people the world over.’ ” Tap to this report in Cronkite News for McCain’s remarks and other highlights from the event, plus a link to the senator’s full speech.

Arizona attorney general: Phoenix police rule does not violate SB 1070.“Republican state Sen. John Kavanagh (R-Fountain Hills) complained in September about the new policy,” which “limit[s] when officers can ask someone about their immigration status.” On Monday, the Arizona Attorney General’s Office said that the policy “did not violate SB 1070.” Read why at KTAR.

Tom Horne not fined after probe finds he used AG’s office for campaign.“An independent investigation into allegations against former Arizona Attorney General Tom Horne concluded he improperly used his office for political activities during his unsuccessful 2014 bid for re-election. But the long-awaited report, released Monday, didn’t impose new financial penalties or recommend criminal charges against the former Republican attorney general.” AZCentral.

The JFK document dump could be a fiasco. “Within the next two weeks, the National Archives is legally obligated to release the last of thousands of secret documents from government files about the assassination, most of them from the CIA, FBI and the Justice Department.” And POLITICO cautions that the release “is threatening to end this month in massive confusion, if not chaos.”

Survey says teens prefer food over clothing, Nike is losing its heat and streetwear is on the rise. <– Those are just a few of the findings from “Piper Jaffray Companies 34rd semi-annual Taking Stock With Teens research survey, which highlights spending trends and brand preferences amongst 6,100 teens across 44 U.S. states.” Details on these and other findings in Rose Law Group Reporter.

Optima Kierland condominium tower more than 75% sold Read more

CoreLogic analysis shows more than 172,000 homes at risk from wildfires in Napa and Santa Rosa Read more

CoreLogic reports serious delinquency rate for home loans holds steady at a near 10-year low Read more

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October 2017