The Dealmaker: 8/23/2018

NAHB economists forecast challenges, opportunities ahead; local perspective provided by real estate consultant Jim Belfiore. Chief Economist Robert Dietz and other NAHB data hotshots deliver a “midyear economic forecast” via NAHBNow. Topics include affordability, lumber, tariffs, and overall conditions. Commenting on the forecast for RLGR, Jim Belfiore says that while affordability will become a ‘bigger” issue in the future for Phoenix-metro, there’s a potentially “greater” housing “concern” looming. http://bit.ly/2MvsQcL

Toll Brothers’ record shows the American housing boom has no end in sight. “Toll Brothers reported quarterly financial results that easily topped forecasts and raised its outlook for the year, citing a backlog of new homes for the third quarter.” CNN Money has some of the homebuilder’s numbers, and notes that “Lennar also reported healthy quarterly results…” http://bit.ly/2PyxzIE

Peoria City Council gives go-ahead for 32 homes near P83. • Bella Brisa • A “residential urban-style infill” • From Bela Flor Communities • At 75th Ave. & Running Horse Lane • Development and design details in YourValley. http://bit.ly/2OWpNHh

Another major mixed-use complex planned in East Valley. “QuypDevelopment Services owns the lot [near Crismon and U.S. 60 in Mesa] and is planning to build the complex on 13 acres of what was a 39-acre planned area development.” PBJ reports that the “development could eventually” include retail, restaurants, offices, and hotel. (Subscriber Content.) http://bit.ly/2wlJuRj

The 5 most popular Phoenix neighborhoods for renters. Apartment Guidegathered the data and crunched the numbers to find the “top five Phoenix neighborhoods.” AZRE has the rundown, along with info on some “nearby perks” in those neighborhoods.—> http://bit.ly/2wlJxMZ

Rise in unregistered real estate projects prompts warning. “A rise in solicitations for investments in real estate projects that are not found on any stock exchange has prompted the [ACC’s] Securities Division to warn investors of unregistered real estate ventures. Recently, the Securities Division brought actionagainst two fraudulent real estate investment scams.” ADI. http://bit.ly/2o7qbal

Study: Lots next to power lines lose nearly half their value. And then there’s this: “Lots that are non-adjacent to power lines but are located within 1,000 feet of them often sell at a discount of 18 percent.” Those are the main findings from a study in the Journal of Real Estate Research. What high-voltage factors are zapping home values? Unsightliness? Health concerns? Noise? Find out in REALTORMag. http://bit.ly/2PyXlwf 

Fannie and Freddie to exit single-family rental market. “Over the past two years, both organizations have dabbled in the single-family rental market through pilots designed to ‘test and learn’ more about the market and best practices.” What officials learned from the programs and why they’re being terminated, in Multifamily Executive. http://bit.ly/2BGWu9U 

The housing market crash: A retrospective. “[M]uch has changed in the consumer credit marketplace, most notably and overtly in the mortgage sector, according to the Q2 2018 Industry Insights Report by TransUnion, that looks at the meltdown’s effect on consumer access to credit and the relationship they have with it.” Highlights and link to the full report in DSNews. http://bit.ly/2PywFvJ

THE OLD (CHEAP) HOUSE – Tempe plans to buy historic Monti’s La Casa Vieja for $10. With a commercial development planned for the property, this “proposal is easing worries about the former Monti’s La Casa Vieja, now referred to as the Hayden House.” But will the “fragile structure” made of “water, clay, sand and straw” be able to “survive the massive disturbances caused by construction”? AZCentral. http://bit.ly/2Pz2apl

Feds give green light to next phase in Tempe Streetcar project. “Valley Metro [has been] given the go-ahead from the Federal Transit Administration to begin the first phase of ‘significant construction’ on the Tempe Streetcar.” The build is expected to get rolling this fall. Details at KTAR. http://bit.ly/2MSSWpD

GETTING THE LEAD OUT – Butler residents concerned about health effects from contaminated soil. “More than 100 residents of the Butler area showed up… for an open house hosted by the U.S. Army Corps of Engineers to present an overview of… soil samples that may be contaminated with clay pigeons and lead shot debris left from World War II gunnery training ranges.” Daily Miner. http://bit.ly/2OY1hpm

Don’t miss anything… follow multiple winner of the Arizona Republic’s tweet of the week contest, and Senior Partner at Rose Law Group and Director of RLG Renewable Energy Department, Court Rich. http://bit.ly/Court_RichTwitter 

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

Gubernatorial candidate Bennett says state computer error denied him public funding. “Ken Bennett came up short of the number of $5 donations he needs to qualify for public funding,” and he’s pointing the finger at Sec. of State Michelle Reagan and a website run by her office. The site went kaput on Tuesday, nixing Bennett’s chance of reaching the qualifying donation level. A Cap Media Services/Howard Fischer report in Arizona Daily Star. http://bit.ly/2PyaIwM

Trump’s ‘wonderful’ defender was fired from ASU for alleged sexual harassment. “A conservative commentator who was lauded by President Trump this week as ‘wonderful’ and who has argued that past sexual indiscretions should have no bearing on Trump’s presidency was fired from Arizona State University four years ago for making sexually explicit comments and gestures toward women,” The Washington Post reports. http://bit.ly/2PvfURQ

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