Phoenix real estate in December: Sales up slightly, inventory down 13% YoY. CalculatedRISK’s Bill McBride makes his first Dealmaker appearance of newyear, filling us in on the latest Residential Sales and Inventory figures. Bill reports that December was the “fourteenth consecutive month with a YoY decrease in inventory,” with “prices… rising a little faster in 2017.”–> http://bit.ly/2G8TbGM
Zillow launches 3-D home tour technology in Phoenix. “[The app] uses 360-degree panoramic images to let prospective buyers see more of their possible new digs.” Phoenix is “the first market to get the upgrade in the United States.” Find out how 3D Home works, view screenshots of the new app, and learn why millennials were the driving force behind its development, at KTAR. http://bit.ly/2GbifNp
Scottsdale named among best cities for renters, Glendale among worst.Apartment List has released the results from its third annual “Renter Confidence Survey” — a “national study of renter’s satisfaction with their cities and states.” One of the oddest results: Scottsdale received an A+ for its weather while Glendale was given a C. (“Probably because of the HUGE temperature differences between the two cities, especially in August,” notes the director of the Dealmaker Sarcasm Dept.) More survey highlights along with a link to the whole thing at KTAR. http://bit.ly/2F8tPY9
Toll is Fortune’s most admired home builder for 4th year. Fortune magazine has named Toll Brothers the “Most Admired Home Building Company” in its “survey of the “Worlds Most Admired Companies.” Additionally, Builder reports that “Toll Brothers ranked #1 in the several other categories.” –> http://bit.ly/2F6hAvi
After shutdown scare, a return to worry over affordability. “Attractive monthly payments — a long-time lever based on low, low mortgage rates –start to get more daunting as interest rates inch upward.” By John McManus, in Builder. http://bit.ly/2n4nLJG
Some glitches, but retail closures are largely bypassing East Valley. “While much of the country is dealing with the fallout of closures by major retail chains, the East Valley is experiencing largely positive trends in the sector… Much of this success has been driven by non-traditional uses in retail spaces” — and by the “food and beverage industry” with “lots of opportunities in downtown Gilbert, Queen Creek, downtown Chandler, south Tempe and east Mesa.” East Valley Tribune. http://bit.ly/2DAcbj3
PhoenixMart purchases air-conditioning units from China. Casa Grande Dispatch: “PhoenixMart spokesman Troy Corder confirmed the purchase to PinalCentral. He said the air conditioners were for the project but didn’t give specifics. (But our guess here at Dealmaker HQ is that all those ACs are probably going to be used for cooling junk down and stuff.) http://bit.ly/2rsZfGG
City of Maricopa offers to trade penalty for ‘accurate’ financial disclosures from anti-Apex group. “City officials are alleging a political action committee formed in opposition [Apex Motor Club] in Maricopa violated Arizona campaign finance laws by failing to disclose donors… The city is offering to quash the $12,675 in penalties if [the group] ‘files complete, accurate and truthful campaign finance reports” within 10 days of the issuance of the Notice of Imposition of Penalty letter.” InMaricopa. http://bit.ly/2n5PNEy
Supreme Court considers a raucous party and an endangered frog; Jordan Rose, president and founder of Rose Law Group, gauges the potential impact for Arizona landowners. “In 2012, the federal government designated private land in Louisiana as ‘critical habitat’ for [a] frog, limiting the ability of the owners to develop the land and by one account potentially costing them about $34 million.” The New York Times reports that the high court has agreed to hear the case on “the habitat of the dusky gopher frog, in Weyerhauser Co. v. United States Fish and Wildlife Service…” Jordan Rose: “This decision could have some real impact on Arizona landowners who currently struggle to make any use of their land which has some relationship to some designated species. We are watching this one closely.” (NOTE: For readers who may not have a NYT subscription, Rose Law Group Reporter has also posted a link to USA TODAY’s no-subscription-required coverage.) http://bit.ly/2Dx9NWI
One economist’s forecast: Valley’s job market, population will grow in 2018. <–That according to a recent “economic outlook forecast” delivered by Valley economist Elliott Pollack. But as Pollack notes in this subscriber piece from PBJ, “not all areas of the state will see similar improvements.” http://bit.ly/2ry1f0s
Arizona among 2018’s best & worst states to retire. “WalletHub compared the 50 states across 41 key metrics. The data set ranges from adjusted cost of living to weather to quality of public hospitals.” Find out where Arizona ranked (it’s a bit of a surprise) and access the link to the full WalletHub report at ADI. http://bit.ly/2DxlSeN
Kingman Airport Authority increases legal fee expenses in fight against City. “[KAA] raised the stakes by $100,000 in its legal battle against the City’s condemnation filing to take back control of the airport and industrial park.” Daily Miner reports that the “agenda item under old business called for authorization of $50,000, but [KAA’s board of directors] followed a recommendation to up the ante to $100,000 [‘for legal fees to retain its outside lawyer.’]” http://bit.ly/2n5S1DU
Scottsdale developer Fred Unger dies after battle with cancer. “The 69-year-old founder and president of Scottsdale-based Spring Creek Development, was responsible for many of the city’s landmark projects including the Royal Palms Resort, the Hermosa Inn and the canal Waterfront downtown.” Mastermind, visionary, creative, a “rare individual who dreamed big and made those dreams become reality” — those are just a few of the ways Fred is remembered in this AZCentral article, by those fortunate enough to have known and worked with him. http://bit.ly/2DvIH2B
Dealmaker BONUS: ’Business Insider’ whacks Tempe City Hall as Arizona’s ugliest building: Rose Law Group Reporter Phototorial. RLGRslaps back at Business Insider with a ‘whack’ of its own in this “TAKE YOUR CHOICE” pictorial. (Also access this RELATED item from East Valley Tribune: “Chandler High scores as a ‘most beautiful’ school.”) http://bit.ly/2rwrqop
Dealmaker DOUBLE (diaper) BONUS: Supervisor House’s diaper drive kicked into overdrive with over 27,000 diapers donated. Pinal County District 5 Supervisor Todd House has been holding a diaper drive since he was elected to the office. What started as a small donation drive five years ago has turned into a bonanza for local human-aid agencies, as the donations keep on growing and growing and growing. Rose Law Group Reporter has much more on the Diaper Drive, including a shot showing Supervisor House walled-in (or dare we say ‘Huggied’) by “just a few” of the diapers that were collected in 2017. http://bit.ly/2BmYMpi
Cameron’s $5M + deals of the day – http://bit.ly/2DB4NUn
