The Dealmaker: 1/3/2018

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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





Tempe tax incentives under investigation by attorney general.“[Yesterday], state Rep. Vince Leach, R-Tucson, sent a request to [AG] Mark Brnovich to investigate Tempe’s agreement with Graduate Tempe, a hotel on Apache Boulevard, and the Bank of the West office building on Fountainhead Parkway. Leach’s concerns revolve around the city’s use of… government property lease excise tax.” Details on Leach’s claim of wrongdoing along with Tempe’s response to the GPLET gripe at AZCentral.

Sun City residents oppose Youngtown development. “[Strategic Development of North America wants] to construct a planned area development with selected use for only single-family residences.” Sun City horse property residents not only worry that the development of “130 starter homes” would upset the character of their “ranchettes,” but also: “If someone decides there needs to be sidewalks, all properties that front 112th Avenue could lose 15 feet…” More in YourValley.

HPI RISES AGAIN – CoreLogic reports fourth consecutive month with more than 6 percent year-over-year home price growth in November. BULLET POINTS: • [Some Markets] Posted 12-Month Price Gains of 10 Percent or More in November • Lack of Affordable Housing Stock Keeps Home Price Index High in Many Markets • Home Prices Projected to Increase by 4.2 Percent by November 2018. More in the Reporter.

U.S. homes now worth $31.8 trillion. “The cumulative value of the U.S. housing market grew at its fastest annual pace — 6.5% — in four years.” Check out the housing-stock value for Phoenix, and access the full Zillow report, in Builder.

NAHB Chairman: “Change is inevitable.” In taking stock of 2017 (and in anticipation of ‘more changes and continued growth’ in the year ahead), Granger McDonald highlights how the NAHB “capitalized on [the] political shift in Washington, D.C., and worked closely with officials to achieve pro-housing, pro-business reforms to help home builders and homeowners alike.” Builder.

10 waves of change for home builders. “Sage and seer George Casey  looks at the future and declares ‘it’s here’ in 2018!” And in case you were wondering, George Casey is “an experienced senior leader, change agent, consultant, and thinker with broad experience in home building and community development.” Much more “About the Author” (plus his “10 waves of change”) in Builder.

Read our lips: It’s the growth rate. “Land and lot acquisition strategy for builders takes on a different complexion in 2018,” and Builder’s John McManus suggests that before buying lots that “extend community selling horizons beyond the next 24 months,” you should “play” with an interactive from the U.S. Census that allows you to “zero in on the geographies that most interest you when it comes to the growth (or negative growth) of state populations.”

Tips for attracting new home buyers in 2018. Builder talks “with Los Angeles-based LA Build Corp about tips and trends for the new year.”

Solving for skilled labor: A step function change. “[When] dealing with the shortage of skilled construction labor… having a savvy, motivated, and mutually-accountable home building team of your own helps…’ What in the world does the understanding and motivation of internal resources have to do with solving the shortage of a skilled but external resource? Why does the presence of a savvy, motivated, mutually-accountable home building team rise to this level of importance?” Builder staffer Fletcher L. Groves, III explains.

Pollack: Economy on a roll. “The level of activity is strong and given the amount of stimulus that is going to take place in terms of tax cuts and expected infrastructure spending this year, 2018 should show generally stronger activity…” The Monday Morning Quarterback looks ahead and has 2017 year-end data for these ‘Snapshots’… U.S.: Consumer Confidence, 30-Year Mortgage Rates (w/ chart), Pending Home Sales & NAR’s ‘Big Question,’ S&P/Case-Shiller HPI. AZ: Sky Harbor Activity, Home Prices – Greater Phoenix (w/ chart).

Mayor: Major changes await Coolidge in 2018. “The new year may be a time to reflect on 2017 for some, but for Coolidge Mayor Jon Thompson the new year will be time to pinpoint and act on a gamut of changes to ensure the city’s future is bright,” not the least of which will be the push to “attract… more industrials businesses to the region via the Pinal Land Holding’s Inland Port.”

Maricopa: Top 10 Economic Development stories of 2017. Which earned the top spot as the most-read economic story at InMaricopa? The approval of Props 416/417? The APEX Motor Club legal victory? The Edison Pointe development? Or was it some other news story? Tap through to find out. (Also available at InMaricopa, this RELATED item: “Local investments prep for growth” — a rundown of recent zoning, construction and signage-permitting activity in the area.)

New city hall project top Eloy story for 2017. “It was a very interesting year in the City of Eloy, from the design process of the new city hall to looking for a new superintendent for the Toltec School District.” Catch the capsule summaries for the top five news stories in Eloy Enterprise 

Tucson City Council approves new retail development“The Tucson Metro Chamber is applauding the recent vote by the Tucson City Council to approve a rezoning request that will pave the way for… the new Fry’s-anchored shopping center to be built on Houghton Road and East 22nd Street…” Arizona Business Daily.

4 of 5 best U.S. cities to find a job in Arizona, according to recent report.WalletHub compared more than 180 cities across 26 key metrics to determine the strongest local job markets in the U.S. The dataset ranges from job opportunities to employment growth to monthly average starting salary.” So what Arizona cities earned high marks? To find out, WATCH/read the report at azfamily (3TV/CBS 5). 

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

Nearly 7 in 10 Americans have done drugs on the job, survey finds. “In addition, the survey [from website Detox] found that retail and food/beverage workers were the most likely to do drugs at work and 17 percent of those surveyed said they did opiates on the job, the highest percentage of drugs found.” More survey findings at KTAR.

Rich Rodriguez fired after $7.5M notice of claim; coach admits to affairbut says he’ll fight ‘groundless’ charges. “Rich Rodriguez was fired on Tuesday after a $7.5 million notice of claim was filed with the state Attorney General’s Office alleging that Arizona’s head football coach ran a hostile workplace and sexually harassed a former employee… Portions of the claim obtained by [Arizona Daily Star] paint a culture in which secrecy was valued above all else.” As for Rodriguez, he “tweeted a statement… in which he said [in part]… ‘I am not a perfect man, but the claims by my former assistant are simply not true and her demands for a financial settlement are outrageous…”

How Donald Trump came between Mike Pence and Jeff Flake. “They used to be brothers in arms. Now one is being driven off the battlefield, and the other is the president’s right-hand man. How one relationship explains the fractured GOP.” POLITICO.

Democrat primary develops in CD7. “[Arizona state Sen. Catherine] Miranda filed a statement of candidacy on Tuesday to run in Arizona’s 7th Congressional District, setting up a primary against [U.S. Rep. Ruben] Gallego, Miranda’s former seatmate in the Arizona House of Representatives, where both represented Legislative District 27.” Arizona Capitol Times (Also available: From KTAR this RELATED piece: “First candidate certified in race to replace former Rep. Trent Franks.”)

Pinal candidate called a ‘coward’ for changing his campaign to seek Franks’ seat instead of CD1. “Kevin Cavanaugh appears to have stopped running for Arizona’s 1st Congressional District seat [in order] to seek office… in Arizona’s 8th Congressional District.” And, apparently, that move  isn’t sitting well with “Brenden Dilley, a conservative candidate seeking the Republican nomination in CD8…” The story in PinalCentral.

Legislature providing media plenty to report on (as long as they don’t wear masks). “The Arizona Legislature… convenes once again on January 8. And your elected representatives are already plotting to make it illegal to wear masks in public, place medical marijuana ads on billboards, lie about having a service dog, and more… Out of hundreds of bills that have been filed so far, [Phoenix New Times has] singled out 15 that are worth paying attention to.”

Most of what we read is real news. “[A] recent analysis… found that though fake news had a broad reach, even people with the largest fake-news appetite consumed much more real news overall…” KEY QUOTE: “For all the hype about fake news, it’s important to recognize that it reached only a subset of Americans…” Axios.

CoreLogic reports fourth consecutive month with more than 6 percent year-over-year home price growth in November Read more

CoreLogic reports Mortgage Delinquency Rates lowest in more than a decade Mortgage Delinquencies in Phoenix-Mesa-Scottsdale down year over year Read more

Big Dig in the Desert Raises over $175,000 for Pediatric Cancer Research Read more

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