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The Dealmaker: 1/12/2018

Posted by   /  January 12, 2018  /  No Comments

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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




[EXCLUSIVE] All that traffic you see is homebuyers. “Metro Phoenix home builder’s sales offices saw more homebuyer traffic than in the past 11 years, before the downturn, said Jim Belfiore, president of Belfiore Real Estate Consulting… [b]efore a group of industry insiders at his Quarterly Housing Market update on Thursday…” Callan Smith was there and has full coverage of the event in Rose Law Group Reporter. http://bit.ly/2EDOByO

Most expensive home sales in Phoenix. Or as we like to call it: “Sales of Homes so Upscale, a Move Into the Biltmore Would Be Downsizing.” Arizona Foothills Magazine has the “Valley’s top home sales from the past week (1.1.18 – 1.7.18),” during which combined sales totaled “over $22 million,” EXACTLY THE SAME as the previous week! How crazy is that?!? http://bit.ly/2DnPlZp

New home sales defy holiday lull, rising in December. Get all the numbers from Mortgage Bankers Association’s latest Builder Applications Survey, and see what MBA Research and Economics veep, Lynn Fisher, has to say about the data, at Mortgage News Daily. http://bit.ly/2FuHE4f

See which four Sam’s Club locations are closing in Arizona. In one of the biggest stories of the week: Walmart is closing down 63 Sam’s Club locations around the country — and it looks like the closures are happening in bulk. USA Todayreports that “10 of those locations [closed] their doors as of Thursday.” Find out where and when the membership warehouses in Arizona will “close for good” in this report at PBJ. http://bit.ly/2DqvYyX

Barrett-Jackson CEO joins Apex Motor Club. (Disclosure: Rose Law Group represents Apex Motor Club.) “Craig Jackson, CEO of Barrett-Jackson Collector Car Auctions…” has joined “Apex Motor Club in Maricopa,” as a “founding member.” Here’s a little of what Jackson had to say about it: “For many years, I’ve been watching its development… This is something that is definitely needed here in the Valley of the Sun… I plan to be involved with its growth in the coming years.” InMaricopa also reports that “Arie Luyendyk, two-time winner of the Indianapolis 500… is on board as an Apex adviser… [as] is Paul Tracy, CART/Champ Car Series Champion.” http://bit.ly/2mmq7CF

Is Tempe tax break for hotel and conference center too steep? “The Tempe City Council voted 6 to 1 to approve the [$21 million tax break] deal on Thursday. Councilman Kolby Granville was the lone dissenter. The Omni hotel project will pay almost no sales taxes or bed taxes for as long as 30 years. It also would pay no property tax because it would be on university-owned land at [Mill and University].” (Also from AZCentral: “Letter: ASU’s Omni Hotel is the worst tax break you’ve never heard of.”) http://bit.ly/2D3ryjJ

Glendale spends $1.5 million to bring in BMW dealership along Loop 101.AZCentral reports that this is the price the city has to pay in order to extend “its waterline across the Loop 101 freeway to the [Arrowhead BMW] dealership and other expected businesses.” Mayor Jerry Weiers: ”It’s pretty phenomenal where this city is going and this is one more thing that’s just going to make this city even brighter than it is right now.” Tap through for more on the dealership agreement, plus details on “Other Glendale growth,” which the city is expected see “plenty of” in 2018. http://bit.ly/2mn2lq3

Desert EDGE pondered at Taliesin West while signature effort gains support. “While the public discourse has retreated to a dull roar, Desert EDGE proponents and detractors are eagerly awaiting the results of a citizen referendum meant to force into the hand of the general public the decision of how the desert-appreciation venue will or will not emerge.” Meanwhile, Scottsdale Independentreports that “a new narrative is emerging…. garnering the imaginations of local political aficionados”: The “idea of Taliesin West” as the location for Desert EDGE. http://bit.ly/2EBtmh3

Golf course verdict prompts jubilation, disappointment and uncertainty. Jubilant? Victorious homeowners and their allies. Disappointed? True Life Companies, the developer on the receiving end of the unfavorable ruling. Uncertain? Wilson Gee,” the man who ultimately might find the course back in his hands.” The story in Ahwatukee Foothills News. http://bit.ly/2D9bQEg

First South Mountain freeway bridge to open in March in Laveen. [C]rews completed ‘extensive earthwork’ and then planted six large concrete piers in the future freeway’s median… The piers will support a 272-foot, two-span bridge that will carry Elliot Road traffic over the South Mountain Freeway.” AFN reports that this will be the “first… bridge to be used by motorists,” among the 40 that “will be built along the freeway by the time the project is completed.” http://bit.ly/2CVtKpT

Fountain Hills designated Arizona’s fourth Dark Sky community. “The Phoenix suburb is one of just 16 cities in the world to receive the designation. The Fountain Hills Times reported the city was only the second to be located next to a major metropolitan area.” KTAR. http://bit.ly/2mwwqEy

RACKET TO FALL BY THE WAYSIDE? Flagstaff eastsiders want wayside train crossing horns made quieter or removed. The wayside horns at the railroad crossings at Fanning Drive and Steves Boulevard may sound a little different soon as city of Flagstaff officials test to find out if there is a horn noise that may be more palatable for residents on the east side of the city. The city is taking up this issue after… a resident in the Swiss Manor neighborhood, gathered signatures on a petition asking the city council to remove the wayside horns.” Arizona Daily Sun. http://bit.ly/2AUHyzj


2018 Elections

Introducing the Dealmaker special election section, featuring the latest coverage on candidates, campaigns, and various races across the state, including daily reports on strategizing, advertising, canvassing, debating, ducking, dog-whistling, backbiting, backslapping, backstabbing, baby-holding, infighting, flip-flopping, flat-out fibbing, mudslinging, muckraking and much more that Arizonans are likely to see a ton of, on the road to this year’s Special, Primary, Consolidated, and General election[s]. We kick things off with…

Ward sheds political alliance with ‘Sloppy Steve.’ “[Former White House strategist Steve] Bannon spoke at a rally for [Arizona Senate candidate Dr. Kelli] Ward in October, an event that was described as a campaign kickoff…” And now? Ward says: “He’s made some significant mistakes, significant gaffes that are unacceptable to me… He was never part of my campaign…” KTAR has more on the Ward-Bannon distancing, along with a CNN VIDEO of Ward and Joe Arpaio. http://bit.ly/2Dnh4t3

Race for Franks’ seat flooded now with 16 candidates; 13 are Republicans. “Only five of those candidates — former Arizona state Sens. Debbie Lesko and Steve Montenegro, former state Rep. Phil Lovas, former Arizona Corporation Commissioner Bob Stump and former Graham County Sheriff Richard Mack — have previous elective experience.” See who else is vying for the seat in the “heavily Republican 8th Congressional District,” at KTAR. http://bit.ly/2D8zgJu 

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

Did I give up my rights with my online purchase? Rose Law Group Class Action Department Chair, Kathryn Honecker, and Law Clerk, Clark Wu, explain why, when “you click ‘I agree’ at checkout or sign another contract, it would be worth your while to scan the terms for the word ‘arbitration,’ because you may be signing away some very important rights.” In Rose Law Group Reporter.  http://bit.ly/2D6KjDN

Keep information on lawmakers’ cell phones secret, says representative.“The proposal by Rep. Bob Thorpe, R-Flagstaff, would spell out that any records stored on an individual’s own cell phone, computer or social media are not required to be disclosed.” Capitol Media Services Howard Fischer reports that it “would apply even if the public official were actually conducting official business on the device.” HB 2256 isn’t sitting well with one First Amendment attorney, who says in Arizona Capitol Times, “It just shows what everybody always thought, [that] public officials use texting to try to circumvent the public records law.” http://bit.ly/2mmvkuc

[OPINION] Split up the Ninth Circuit—but not because it’s liberal. In this Wall Street Journal paywall piece, Arizona Attorney General Mark Brnovich and Cato Institute senior fellow Ilya Shapiro argue that the “court has too many judges, leading to backlogs and inconsistency in applying the law.” http://bit.ly/2D4SNv0

Analysis: New tax laws mean we’ll be paying more to the state. “State government stands to gain — and Arizona taxpayers stand to lose — more than $200 million because of the federal tax law changes approved by Congress and signed by President Trump.” Howard Fischer once again has the story — and also does the math! — in Arizona Capitol Times. http://bit.ly/2ASWZrX

White Mountain Apache water measure sidetracked by labor amendment. “A bill to provide desperately needed water project funding for the White Mountain Apache tribe… became the focus of a partisan fight over labor regulations.” The fight can basically be summed up like this: Dems to the GOP: “You’re holding the bill ‘hostage’ in order to exempt tribally run businesses, such casinos, from the National Labor Relations Act!” Republicans to Dems: “Oh, please! It’s ‘a tribal sovereignty measure’ that would merely give Native American governments the same rights as federal, state and local governments when it comes to dealing with their workers.”  More on the acrimony and reactions from members on both sides of the aisle in Cronkite News. http://bit.ly/2muncsn

Don’t let them see you sweat. CareerCast unveiled its list of the most and least stressful jobs of 2018… [The list is based on] 11 stress factors: travel required, growth potential, deadlines, working in the public eye, competition in the field, physical demands, environmental conditions, hazards encountered on a regular basis, own life at risk, life of others at risk and meeting or interacting with the public act large.” Get a look at this year’s list in Phoenix Business Journal. http://bit.ly/2DqjXt5

CoreLogic Reports Early-Stage Mortgage Delinquencies Increased Following Active Hurricane Season Read more

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

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