The Dealmaker: 9/18/2018

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





[OPINION] Kate Gallego easily outsmarts her rivals in the first Phoenix mayor debate. “Not much separates Kate Gallego and Daniel Valenzuela politically. But her ability to communicate her vision for Phoenix vastly outshines his.” By Elvia Díaz at AZCentral

Beazer returns to Estrella with 10th neighborhood. • Mission Hermosa •  65 homesites • Six floor plans • Starting in the $250,000s • More on Beazer Homes’ new Goodyear neighborhood via the news release in West Valley View

Western and Southern states post single-family residential permits growth. “34 states saw growth in single-family permits issued while 16 states and the District of Columbia registered a decline.” Eye On Housing has the mapped-out data, including growth rates for Arizona.

Pollack: Phoenix single-family permitting remains strong. The Monday Morning Quarterback hits us with some mixed housing-market numbers — positive permitting figures for Greater Phoenix, “tight resale” data for Greater Tucson. MMQalso has news on Trump tariffs and the impact they’re expected to have on the economy. ‘Snapshots’ include —> U.S.: GDP • Consumer Sentiment • Manufacturing. AZ: Housing Data.

New apartments aim to meet dire affordable housing need, lift Phoenix-area neighborhoods. Heritage at Surprise, at Rimrock St. and Nash Ave., is part of Maricopa County Housing Authority’s “broader plan to upgrade its affordable housing stock across the county, and lift up neglected neighborhoods as it goes.” Madison Heights in Avondale is another such project that has “spurred private investment in surrounding area…” Images and details on both in AZCentral.

Placing a value on your time spent on Zillow. “The Zestimate is marketed as a tool designed to take the mystery out of real estate for consumers who would otherwise have to rely on brokers and guesswork. But where Zillow sees transparency, some brokers and homeowners see fantasy…” The New York Times.

AMENITY-VILLE HORRORS – The one home feature buyers had to have … but regretted getting. Five homeowners from around the country share ‘amenity remorse’ stories about features they thought they couldn’t live without, only to have the amenities “end up being a whole lot more trouble than they’re worth.” And in one case, it turned into a “nightmare.”®.

Spectrum Retirement Communities seek to meet growing demand of legacy Scottsdale. Scottsdale Independent reports that Colorado-based Spectrum has been given the green light by City Council to construct a facility that “will provide both assisted living and memory care services.” The center “will replace the site once occupied by the Le Cordon Bleu College of Culinary Arts,” at 8102 E. Camelback. Tap on for details and rendering.

Grocery gambles. “The Valley says ‘Willkommen’ to German discount grocer ALDI.” The grocer is set to open locations in Buckeye and Avondale next year. The news has PHOENIX Magazine wondering: “Will it go the way of Fresh & Easy?”

ADOT sells excess land to help fund I-10 widening in Phoenix. “The Arizona Department of Transportation has sold a parcel of land it owned along Interstate 10 in Phoenix for $28.7 million, the largest sale of excess property in the agency’s history.” PinalCentral.

ABC’s construction backlog indicator hits a new high. ABC’s “Backlog Indicator expanded to a record 9.9 months during the second quarter of 2018,” with tech “positioned to be an ongoing driver of demand” and Phoenix among cities where contractors “can expect to remain ultra-busy for the foreseeable future…” AZRE.

A WATERSHED MOMENT – Work begins to create the Cobre Valley Watershed Partnership. “In 2012, [the U.S. Bureau of Reclamation] predicted the current gap between water supply and demand (use) in the western United States would grow even larger in the coming decades.” The partnership is being created as a way “to not only ‘understand and allocate available resources,’ but also to “foster cooperation among stakeholders…” Arizona Silver Belt.

10th Annual AZ DealMakers – January 11, 2019. Don’t miss out on the BIGGEST homebuilding industry event for real estate forecasting and analysis, featuring the best speakers in the industry, including Rose Law Group founder and president Jordan Rose and Lennar division president Alan Jones. Plus, Belfiore Real Estate Consulting president Jim Belfiore provides an Overview on Housing. For the full list of speakers & panelists, along with registration info for Arizona Housing: Growth, Its Costs, Challenges & Opportunities, tap on! 



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

Children’s best interest trumps parental rights, state Supreme Court says; analysis provided by Rose Law Group partner, director of Family Law, Kaine Fisher. “A judge’s decision that it was in the best interest of two children for their mother to lose parental rights was correct, the state Supreme Court found, reversing an earlier decision that such a move was based on shaky facts.” – AZCentral • Kaine Fisher: “The best interest conclusion is paramount even if that means severance. However, I have observed first-hand the type of railroading that can sometimes occur within certain courtroom workgroups in the juvenile court system.” Kaine’s complete analysis, along with a full report on the unanimous ruling, here: 

Arizona clean-energy ballot measure supporters say attorney general undermined proposal. “Wording that the Arizona Attorney General’s Office used for the explanation of a clean-energy ballot initiative to be seen by voters may make the measure less likely to pass, according to initiative backers… An official with the Secretary of State’s Office called the added language ‘eyebrow raising…’ ” AZCentral.

Brnovich to investigate cell phone tracking. “Attorney General Mark Brnovich has launched an inquiry into whether a major tech firm is violating the rights of Arizona residents by tracking their movements and activities through their cell phones…” Is Google the target of the investigation? While Brnovich wouldn’t disclose, he all but confirmed as much, saying, “You don’t need a weatherman to know which way the wind blows” — which, of course, is a lyric from the Bob Dylan tune “Subterranean Google Blues.” A Cap Media Services/Howard Fischer report in Arizona Cap Times. 

[OPINION] Arizona Supreme Court opens inquiry into whether Invest in Ed vote was leaked (read: to Gov. Ducey). “Did Gov. Doug Ducey get the inside scoop on the Arizona Supreme Court’s decision to toss Invest in Ed off the ballot? If not, why bother with an inquiry?” By AZCentral columnist Laurie Roberts.

Arizona among the most diverse states in the nation. “WalletHub compared the 50 states across six key diversity categories.” Overall, Arizona makes a strong showing, but particularly in the categories of “Household” and “Cultural Diversity.” Click on for the full findings.

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September 2018