Lenders must cancel trustee sales carefully or risk losing the right to repayment. The Arizona Court of Appeals issued a ruling this week regarding Arizona’s statute of limitations on secured financing. Rose Law Group Real Estate Litigation Department Chairman, Adam D. Martinez, looks at the case of Miller Designs v. US Bank, et al. and explains what the court’s ruling means for banks and investors — in Rose Law Group Reporter. http://bit.ly/2EyqbHm
[SLIDESHOW] In Progress: Here’s a look at some of the developments underway around the Phoenix area. Phoenix Business Journal photo editor, Jim Poulin, “visited several projects in various phases of construction” — from NextMetro Communities’ Avila in Deer Valley to Evergreen Development’s Trellis on Bell in Phoenix. Poulin’ pics include captions with a bit of info about each project. http://bit.ly/2svL58s
Putt-Putt too? True Life draws line in the sand. “If Ahwatukee Lakes residents think a judge can force the restoration of the golf course they once had, they should think again. So says The True Life Companies in… [a] bombshell assertion [which] resorts to the same 1992 Covenants, Conditions and Restrictions that the lawyer for residents… successfully used in blocking the developer from putting homes on the defunct 101-acre course.” AFN. http://bit.ly/2EJAWtt
Taylor Morrison again turns to home shoppers for design advice. “When you walk into your home, which interior paint color would you want to gaze at?” Taylor Morrison’s my Model Home Project™ is giving everyone an opportunity to answer such design-element questions. The answers “will count as votes, and the most popular items will be built into… model homes currently” under construction in Phoenix and a handful of other cities. Tap to Builder for more on myModel Home Project™ along with the link to try it out. http://bit.ly/2F7ZuKl
DR Horton joins Richmond American at Santa Cruz Meadows in Sahuarita. With its purchase of “10 finished lots under a rolling option agreement for 93-lots,” DR Horton joins Richmond American, which “has taken down 22 lots of its 49-lot rolling option at Santa Cruz Meadows.” More on these “rolling option” deals in Sahuarita at Real Estate Daily News. http://bit.ly/2Gk0yKx
Homebuilders more optimistic over the next six months. While the NAHB/Wells Fargo Housing Market Index for February “was unchanged from January at 72,” HMI’s “most forward-looking component hit a post-recession high.” Regional HMI scores, plus NAHB chief calculator, Robert Dietz, on the increasing demand for housing, in Mortgage News Daily. http://bit.ly/2GjVXbq
Most expensive home sales in Phoenix. Once again, Arizona Foothills Magazine has the “top home sales from the past week (2.5.18 – 2.11.18),” during which combined sales totaled “over $17 million,” a DIP of $3 million from the previous week, and a SLIDE of $9 million from two weeks ago! How crazy is that?! What is going on?! Is it because sellers are accepting lowball offers? Anyway… Among the home features in this installment: A backyard desert oasis, a guest house, disappearing windows, and new owners who seem to have made out like bandits! http://bit.ly/2syGn9I
Two world views collide on stadium, arena subsidies. When it comes to economic issues, “business and tourism groups” and Republicans “often are in lock step.” Such is not the case when it comes to “State Sen. Warren Peterson’s measure [SB 1453],” which would prohibit “public funding and subsidies for professional sports stadiums, ballparks and arenas…” Phoenix Business Journal. http://bit.ly/2C4dKoX
Got ‘sober living’ homes in your neighborhood? Arizona may begin licensing them “[T]he House Health Committee agreed Thursday to have the Arizona Department of Health Services license the facilities that have popped up in the past few years around the state.” Why lawmakers made the “move” and what sort of “oversight” HB 2529 would entail, in this Capitol Media Services/Howard Fischer report at Arizona Daily Star. http://bit.ly/2o1AeOU
Quick Quack building permits revoked after outcry. (Disclosure: Rose Law Group represents Michael Pollack, who, along with 600+ residents in one mileradius, opposed the car wash.) Last week, Arizona Republic reporter Jerod MacDonald-Evoy covered a three-hour-plus Tempe City Council meeting at which building permits for Quick Quack Car Wash were quashed.” Now, news of this tongue-twisting Tempe turndown is bubbling up elsewhere, including at CarWash.com. –> http://bit.ly/2BzKtBh
County supervisors represent voice for those outside cities. Verde Santa Fe… Rimrock… Oak Creek Canyon… “Although residents of unincorporated areas… are not governed by a local municipal operation, they do still have a voice…” And one of those voices is Randy Garrison. In Red Rocks News, the Yavapai County District 3 Supervisor discusses the “strong representation” available for folks living in these unincorporated areas. http://bit.ly/2FaVcCg
Glendale mid-year budget on track. “Despite reports that show the general fund balance beginning to decline around 2023, staff said they are upbeat about the city’s improved financial issues and expect it to outperform forecasts of any declining stability.” Head to Glendale Star for a closer look at the upbeat update delivered by Budget and Finance during a recent workshop. http://bit.ly/2C2Kyyr
Feds sue Arizona over rushed absentee voting. “A special election was slated to take place after Rep. Trent Franks, a Republican representing Arizona’s Eighth Congressional District, announced his retirement.” Now, the February 27 election could be delayed because of a Justice Department suit “claiming the state failed to give absentee voters enough time to consider the finalized and official ballot…” Courthouse News Service. http://bit.ly/2o9tG0L
Arizona a breeding ground for deregulation all sorts of professions and jobs. “More than a dozen bills… take aim at various professions… as part of a continued push… to deregulate occupations.” Arizona Capitol Times has a rundown of the bills, including one which The League of Arizona Cities and Towns says is “unnecessary because cities don’t heavily regulate professions now.” That bill, HB 2532, “would prevent cities from requiring licenses or fees for soothsayers, palm readers, phrenologists, buskers, junk dealers and several other businesses.” http://bit.ly/2HlxKmn
Arizona State University president vows to support DACA students.“Arizona State University President Michael Crow told KTAR News 92.3 FM that he has always supported advancing Deferred Action for Childhood Arrivals recipients who have graduated from Arizona high schools onto universities.” Crow to lawmakers: “It just needs to be resolved, and it needs to be resolved in real time.” http://bit.ly/2F8dUuh
Senate president offering ‘gift on a silver platter’ to get Democrats on his School Tuition Organizations bill. “Democrats have balked at what [Senate President Steve Yarbrough, R-Chandler] has called a ‘grand bargain,’ his offer to phase down a 20 percent annual increase of a cap on corporate tax credits for School Tuition Organizations, or STOs — organizations that provide scholarships for students to attend private schools.” Arizona Capitol Times. http://bit.ly/2Ct3jXW
Medical marijuana opponents seek harsh penalties for doctors. In what could be seen as an entirely different sort of “rolling options” story, Capitol Media Services’ Howard Fischer reports that state lawmakers on Thursday voted to “impose prison terms of up to a year for medical professionals who fail to conduct a full medical exam before issuing the required state certification to buy and use the drug.” More on HB 2067 in Arizona Capitol Times. http://bit.ly/2ExQKjO
