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The Dealmaker: 3/9/2018

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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





A salute to Bill Pulte — RIP. “The man, the trustmark, and the business empire he built transformed forever both who home builders are, and what they do for people.” By John McManus in Builder. http://bit.ly/2HmEzmZ 

Phoenix’s Top 10 biggest building permits of 2017. (CLARIFICATION: While these projects are definitely BIG, the permits themselves are the same size they’ve always been.) “Researchers at BuildZoom analyzed the data from its National Building Permit Database.” AzBigMedia has some of the results — details for the “10 largest construction permits issued for Phoenix projects in 2017.” —> http://bit.ly/2GepUuM

Most expensive home sales in Phoenix. Once again, Arizona Foothills Magazine has the “Valley’s top home sales from the past week (2.26.18 – 3.4.18),” during which combined sales totaled “over $43 million.” WHAT?! That’s UP a WHOPPING $23 MILLION from the previous week!  And probably enough profit raked in to pay off someone like Stormy Daniels fifty times over! Easily! http://bit.ly/2oTXTRO

‘FLIP CENTRAL’ – Where are the new hottest markets for home flippers?Not where “most folks would expect,” according to a recent report from ATTOM Data Solutions. ATTOM vp Daren Blomquist: “They’re more off the beaten path, so there’s less competition from other investors and there’s more availability for deals.” See where flips are up and where flips are flopping; also find out which Valley city gets a “flip-central” shout-out — at Realtor.com®http://bit.ly/2oVyS8u

New NAHB estimate: 58,600 single-family tear-down starts in 2017. That number is “down considerably from the 79,300 reported last year [2016], even though single-family starts overall increased by 8.5 percent during the period.” The reason for the decrease, plus a regional breakdown of tear-down starts in this Eye On Housing report which, BTW, seems to have sparked an unusual amount of activity in the comment section. http://bit.ly/2IgLwag

Here’s who won 2018 RED Awards as the best in CRE. Earlier in the week, Dealmaker presented the list of finalists for AZRE magazine’s annual Real Estate & Development Awards. Yesterday, the winners were unveiled before an “energetic crowd” at Pointe Hilton Tapatio Cliffs Resort. For the full list of “impressive projects” that took home an award (complete with images), plus info on the “companies and people that make each project possible,” tap it: http://bit.ly/2FE1ddf

WELL, WELL, WELL… Phoenix, SRP reach historic water agreement. “Under the first-of-its kind agreement, effective July 1, [Salt River Project] has agreed to reserve capacity in its extensive system of wells for future use by Phoenix.” Further details on the “40-year partnership” agreement, including costs involved, at AZ Business Magazine. http://bit.ly/2Fsg1IB

Town of Queen Creek approves Ironwood Crossing annexation.(Disclosure: Rose Law Group represents Fulton Homes at Ironwood Crossing.) “Town Council [has] voted to accept the ‘Ironwood Crossing Annexation’, which includes both residential and commercial properties covering 1,485 acres.” San Tan Valley.com reports that “numerous parcels between Meridian and Ocotillo to Ironwood and Germann… will become part of… Queen Creek on April 9.” That is, if “no challenges are filed.” http://bit.ly/2Gety7W

Drylands Center emerges as new focus of Scottsdale Desert EDGE critique. “The claim: Arizona State University — and it’s newly-formed Global Drylands Center — will be getting a free ride… while taxpayer dollars will shoulder a large majority of the estimated $60 million cost to build the Desert EDGE.” In Scottsdale Independent, proponents and detractors alike respond to these latest developments in what’s been Desert EDGE’s “long and convoluted journey.” http://bit.ly/2HjRBS2

Mayor gives cause to celebrate – details Glendale growth, successes.  The Glendale Star recaps Mayor Jerry Weiers’ recent 2018 State of the City address, delivered at the Renaissance Glendale Hotel & Spa “to a sellout crowd of more than 600 business owners and leaders, as well as state and local elected and public officials…” Among the economic and “unparalleled growth” highlights: “1,900 new jobs,” “Topgolf, Conair, Bechtel and Coca-Cola,” and “6.2 million [sq. ft.] of building projects in the pipeline.” http://bit.ly/2Dfm80V

Bill to force schools to sell buildings to charters sparks debate. “Rep. Vince Leach, R-Tucson, introduced House Bill 2460 to prohibit districts from accepting an offer on property for sale or lease if it is less than an offer from a charter or private school. The bill would also prohibit the district from withdrawing the property solely because a charter or private school has the highest bid.” Arizona Capitol Times. http://bit.ly/2IhPH5J

Cameron’s $5M + deals of the day – http://bit.ly/2IfXa5t

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

Attorneys file new sexual harassment allegations against Jodi Arias prosecutor. “Attorneys seeking disciplinary action against Jodi Arias prosecutor Juan Martinez have filed further allegations with the Arizona State Bar about Martinez’s conduct with women in the courthouse.” AZCentral reports that “one former court aide told attorneys… that Martinez… had sexually harassed her, and said that she could provide the names of seven other women who had suffered the same.” http://bit.ly/2FoYuFf

Arizona judge reassigned amid sexual-misconduct investigation. “The Pima County Sheriff’s Department has confirmed that deputies are investigating sexual-misconduct allegations made by a woman against Judge Steven Fuller.” The story, including responses from the court, and from attorneys for both the accused and the accuser, at AZCentral. http://bit.ly/2FxlWfz

Legislation to block tax on digital goods stalls as impact is only a rough estimate. “The House [had] already approved a bill to exempt digital items… from the state’s 5.6 percent sales tax. The Senate appeared poised to approve an identical measure.” BUT THEN… “the League of Arizona Cities and Towns released estimates of roughly $119 million the state would lose by no longer taxing those items.” CUT TO: A stall. Arizona Capitol Times. http://bit.ly/2FukfQ5

Phoenix will likely change how elections are conducted. “But how? That’s still anyone’s guess” after a “two-hour city council discussion Wednesday,” which “quickly dissolved into a fight over voter turnout and voter access with threats of disenfranchising voters thrown in.” What are the city’s options? Arizona Republic reporter Jessica Boehm looks into it. (RELATED, from Arizona Capitol Times: “House Republicans take another crack at control of local elections; bill passes 34-22.”) http://bit.ly/2oWTahY

It’s true: False news spreads faster and wider. And humans are to blame. “What if the scourge of false news on the internet is not the result of Russian operatives or partisan zealots or computer-controlled bots? What if the main problem is us? Researchers at the Massachusetts Institute of Technology examined true and false news stories posted on Twitter from the social network’s founding in 2006 through 2017.” The New York Times has the findings. http://bit.ly/2p2Jrpx

Estrella Bolsters Home Builder Portfolio With Courtland Communities Debut Read more

Rosewood Homes earns 6-Awards at 22nd Annual Elliant Homebuyers Choice Awards Read more

Multifamily Rental Rates on the Rise in Greater Phoenix Read more

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  • Published: 1 week ago on March 9, 2018
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