Phoenix housing market among those considered overvalued; real estate consultant Jim Belfiore pushes back on report. Does a YoY 6.47% increase in the median price of a single-family home in Phoenix mean the market is overvalued? CoreLogic thinks so; Jim Belfiore says it’s hogwash: “Large, national data companies looking at bunches of data tend to extend opinions based upon their national vision of what is undersupplied and oversupplied and underpriced and overpriced in a market — and, as a result, often err in assessments.” And that’s just for starters! More rebuke from Jim along with the PBJ report here: http://bit.ly/2HalTba
Where are priced out renters moving to buy? Builder’s John McManus on trying to “understand where young, upward-bound strong earners who are priced-out of access to the housing of their choice in the ‘expensive coastal metros’ will move next…” (How about Arizona, specifically, Tempe? See Dealmaker’s next two items.). http://bit.ly/2uOxZUI
With rents on rise, Tempe makes room for ‘tiny homes’ on city-owned land. Newtown Community Development Corporation plans to build the small homes near Rural and Apache. AZCentral reports that, at 600 sq. ft., the homes are “twice the size of the.. ’tiny homes’ in the movement that began sweeping the nation a few years ago.” In other words, SPACIOUS! For a closer look at these “humble homes,” “micro-estates,” and “mini-McMansions” (including an architectural layout that’s ALSO been scaled down), tap it: http://bit.ly/2H6CWux
Taylor Morrison to grand open 18-home Arizona community. Shadow Rock “will feature just 18 homesites for single-family-detached homes that will be priced from the mid- $300s.” The grand opening is on April 28, but Builder has more on the community right now, including info on floor plans and home features. http://bit.ly/2GAg2ux
Maricopa home sales. An extensive list of sales data (PDF) for homes sold — February 2016 through March 2018, from subdivisions Acacia Crossings to Villages at Rancho El Dorado — in Rose Law Group Reporter (courtesy of InMaricopa). http://bit.ly/2Gwzk84
Hispanic or Latino homeownership rates by county. “A recently released NAHB special study explores the geographic differences in homeownership rates between Hispanic or Latino and white households (as well as between black and white households…).” What do the rates look like for Arizona? Get county-by-county heat-map results in Eye On Housing. http://bit.ly/2GURGz3
“The Lotus Project” coming to Chandler. • A light industrial/general office development • On 52 acres at the SWC of Fry and Roosevelt • A Conor Commercial Real Estate project • AZBEX has a rendering and further development details, plus a tidbit on how the lotus flower will fit into the project’s overall theme. http://bit.ly/2GRx9eR
Phoenix data center market poised for massive growth in 2018. That’s the main takeaway from a new CBRE report — with “diversity in providers and market, strong incentives programs and lower operating costs” cited as primary drivers. CBRE’s Luke Denmon: “While we saw a healthy expansion of Arizona’s data center market in 2017, there is a massive swell of development and absorption is on its way in 2018.” Get all the mega highlights from CBRE’s U.S. Data Center Trends Report in AZRE. http://bit.ly/2uQJ0Fk
CIP talks taking root around the state. As AZBEX editor Roland Murphy puts it, the building publication is “easing… back into Public Sector project focus as towns, counties, universities and state agencies start discussing and evaluating their upcoming five-year Capital Improvement Project plans… Rather than bombard our readers with stories from… different news outlets and agencies, we figured it would be easier for all concerned if we summarized them in one spot.” So here you go! The CIP rundown — for Scottsdale, Surprise, Yuma, Apache Junction — and more: http://bit.ly/2IugKKe
Accusations fly in tumultuous meeting of newly elected South Tucson Council. When current Councilman Paul Diaz was mayor of South Tucson a few years back, did he take “a payment in exchange for a favorable zoning decision”? That was the allegation that got things off to a rocky start on Monday night. The charge was leveled against Diaz, even before he was sworn in! And things only deteriorated from there. Arizona Daily Star. http://bit.ly/2ItJh2S
Cameron’s $5M + deals of the day – http://bit.ly/2Gxr4Vx
Turf Paradise Kentucky Derby Party returns May 5th – http://bit.ly/2GXPWoL
[VIDEO] How funk band Vulfpeck took on Spotify. “Jack Stratton, Vulfpeck bandleader [oh, and also Jordan Rose and Court Rich’s cousin] discusses how the funk band circumvented Spotify’s royalty system back in 2014 with a silent album.” Yes, you heard that right — a completely silent album. WATCH the interview with Jack and listen to a cut from the silent album at CNBC. http://bit.ly/2q4FUZ9
Racial discrimination was the most memorable issue in my reporting career [VIDEO]. In Rose Law Group Reporter, Senior Reporter/Writer Phil Riske shares a story and video about “the most impactful time” in his journalism career, on this, the 50th anniversary of the assassination of Rev. Martin Luther King Junior. http://bit.ly/2GC1RW5
Arizona officials wait for details on plan to place military on the border.“President Donald Trump’s announcement Tuesday that he plans to send U.S. troops to patrol the border left southern Arizona sheriffs looking for details before committing to the president’s ‘big step.’ ” KEY QUOTE: “To what extent they’re looking at the military right now, nobody knows…” In Cronkite News. http://bit.ly/2IpjEQs
Rose Law Group Reporter’s Top 10 words frequently used by media and politicians. Millions of times each day, trendy words and catchphrases get tossed around by politicians and those in media — and Senior Reporter/Writer Phil Riske has taken notice, zeroing in on ten such words and the meaning for each. Probe Phil’s humorous list in Rose Law Group Reporter. http://bit.ly/2q6yxQq
Candidate claims dead voters support him. “Democratic legislative candidate Larry Herrera filed 255 signatures to qualify for public campaign funding. Among them was a form signed on Feb. 3, 2018, by Bernadine Barbara Misiak. Except Misiak died in November 2016.” And, according to this AZCIR report, Misiak isn’t the only dead person that “purportedly signed.” As for Herrera, he “defended the signatures” and “believes he is being targeted by political opponents.” (No word yet if any of those political opponents are also dead.) http://bit.ly/2q5xNLq
Waymo plans for 100-square-mile driverless taxi service in Phoenix area. Waymo CEO John Krafcik puts it best: “We will be driving everywhere — dense, urban centers, high-speed roads, low-speed roads, suburbs. There’s every driving scenario to be imagined.” KTAR. http://bit.ly/2uOEHtS
Humane Society ends effort to get Arizona voters to ban ‘trophy hunting.’ “[P]ulled the plug on its proposal to put a measure on the November ballot to make it illegal to pursue, shoot, snare, net or capture any ‘wild cat.’ ” BLAME IT ON? “Arizona laws governing the circulation of initiative petitions and requiring ‘strict compliance’ with every technical aspect of state election laws.” A Cap Media Services/Howard Fischer report in Arizona Daily Star. (RELATED: “The cat’s out of the bag . . . and onto the ballot,” by Phil Riske, in Arizonans For Wildlife.) http://bit.ly/2GBWPZo
Are we in Arizona financially literate? “WalletHub analyzed financial-education programs and consumer habits… in each of the 50 states and the District of Columbia. [The study’s] data set of 15 key metrics ranges from high-school financial literacy grade to share of adults with rainy-day funds. Read on for the results [along with] insight from a panel of experts.” http://bit.ly/2HbHtMA
Phoenix not a city with many foreign worker approvals. “Demand for the high-skilled worker visas has boomed in recent years, and the H-1B program is now the primary way employers in the U.S. hire high-skilled foreign workers.” Click through for the Pew Research Center findings. http://bit.ly/2uNHyDl
