The Dealmaker: 9/25/2018

Our friends at Rose Law Group are looking for… A highly motivated, detail oriented and brilliant transactional lawyer with three or more years of experience in real estate and corporate transactions to join their busy transactions team. Please email resumes to rpineda@roselawgroup.com.

Israeli drone company opens North American headquarters in Scottsdale, will bring 80 jobs. (Disclosure: Rose Law Group represents Airobotics.) CEO Ran Krauss on Airobotics’ decision to locate its HQ in Scottsdale (8340 E. Raintree Drive): “When deciding where to launch our first US office, Arizona was the top choice for us as it has a strong mining industry, great weather conditions for drone testing, and potential partners we’re excited to work with.” More on Airobotics at AZCentral. http://bit.ly/2xQzL63 

[GUEST COLUMN] Lawrence: Solving the veteran suicide crisis in Arizona begins with accurate statistics. (Disclosure: Rose Law Group represents the family of veteran Antouine Castaneda.) Moved by the tragic story of Antouine Castaneda and the increasing number of other military veterans who have taken their own lives, Rep. Jay Lawrence (R-Scottsdale) is proposing a bill that would be an important first step in helping prevent suicide among military service members. http://bit.ly/2zsmlz7

Fulton Homes seeks to raise money for Wounded Warriors Project. (Disclosure: Rose Law Group represents Fulton Homes.) Anyone who visits a Fulton Homes community, and tours a new model home can make a donation of $10 and receive a U.S. flag kit. Fulton will then match any $10 donation offered, up to a max of $25,000, with all proceeds going to Wounded Warriors Project. Further details on the “Fly the Flag for Veteran’s Day” campaign in QCIndependent. http://bit.ly/2zslU84

Housing slowdown? Softening? It’s here. News ‘a bit different in AZ,’ says real estate consultant Jim Belfiore. “Lately, those who read economic tea leaves have been hinting that we may be heading toward a significant correction in the go-go-go American housing market.” Realtor.com® takes a “deep dive” into the latest data, with insight from a few high-profile housing-market number crunchers. And in RLGR, Jim Belfiore has the local take, with a bit of downbeat news on “move-up demand,” but more upbeat numbers on “entry level demand.” http://bit.ly/2xSCFam

Maricopa home sales. Sales data for homes sold February 2016 through August 2018, from Acacia Crossings to Villages at Rancho El Dorado, in Rose Law Group Reporter (courtesy InMaricopa). http://bit.ly/2QXVQZ5

KB aims Home ProjeKt at perfecting prefab. “KB Home has built more than 2,000 homes in the Inspirada Community outside of Las Vegas where the KB Home ProjeKt: Where Tomorrow Lives will be located. Those homes have been built conventionally, each with a typical schedule of seven to 14 days. The concept home, with a new prefabricated structure, took only two days to be complete…” Builder
http://bit.ly/2Iewna3 

Rents unchanged YoY for first time since 2012. “It’s not only rent appreciation that slowed in August: Home value appreciation is at its slowest pace in two years.” Check out the Zillow results for Phoenix — rent and home value indices, plus inventory data — in Arizona Daily Independent. http://bit.ly/2ztzub8

Trends to watch in the multifamily sector. “To identify the multifamily trends that people working in commercial real estate should know about, AZRE talks with Chris Brozina, executive vice president at Mark-Taylor Companies.” http://bit.ly/2QWTiKQ

Developers utilize public art to gain edge in amenities’ wars. It may not have the same amenity appeal as, say, “cold brew on tap in the lobby” or “tanning beds in the gym,” but, as AzBigMedia reports, “developers are tuning in to the economic, communal and cultural value of a different economic investment: Public art.” http://bit.ly/2DtaNjp

Homeowners reveal their top nonnegotiable amenities. Porch surveyed “more than 1,000 homeowners” and “prospective buyers” to find those “deal-breaking must-haves.” The results in REALTORMag. http://bit.ly/2ztgtWu

Construction leads decrease in unemployment rate. “The state’s economy continues to be propelled along by people wanting some new place to live or at least to fix up the one they have.” Cap Media Services’ Howard Fischer crunches the latest figures from the Office of Economic Opportunity, in Arizona Daily Sun. http://bit.ly/2DtXQFV

ESCALATION CLAUSE IS COMING TO TOWN –  Chinese tariffs about to make your home renovation more expensive. “The latest round hits about $10 billion worth of Chinese products exclusive to homebuilding and remodeling.” The threat of further tariff increases — to the tune of 25 percent by Christmas — has prompted some clients and contractors “to set contracts with escalation clauses.” http://bit.ly/2MYsaI5

Pederson Group successfully bids for 23 acres. With a bid of $7.2 million — an amount considerably higher than the subject parcel’s appraised value — Pederson Group Inc. snatched up State Trust Land located in Phoenix at the NW corner of 35th Ave. and Happy Valley. The full Land Department news release available in Rose Law Group Reporter.  http://bit.ly/2IdaaJf

One year later, Phoenix Chinese Cultural Center fight rages on. “Although both sides say they want to reach a compromise, no one appears to agree on what a compromise should look like — and with each passing month, the likelihood of an amicable resolution seems increasingly unlikely.” AZCentral. http://bit.ly/2ztEsVz

Phoenix, SRP will partner on underground water storage. “The Phoenix City Council has approved a 10-year partnership with Salt River Project to help ensure resiliency in the Valley’s water supplies in the future during extreme drought and shortage conditions on the Colorado River.” Details in  AZ Business Magazine. http://bit.ly/2IeDnnl

Left-over landfill: Peoria to remove 4,000 cubic yards of debris at $250,000 for road project. “Landfill waste found included a mixture of soil, plastic, rubber, metal, wood, aluminum cans, milk cartons, glass bottles, paper, tires, and landscape debris” — basically everything but the kitchen sink (and likely that too!) — all being removed as “part of a project to improve 103rd Avenue between Northern and Olive.” YourValley. http://bit.ly/2IeKn3A

Cameron’s $5M + deals of the day – http://bit.ly/2xC69Kw

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!  http://bit.ly/2LAvclq 

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

Watch Ducey, Garcia clash over education, border security in firsttelevised debate. “The debate… featured frequent back and forth and the two candidates talking over one another. Green Party candidate Angel Torres also was part of the debate but often was overshadowed by the main-party candidates.” Cronkite News/PBS. http://bit.ly/2DwI4Kn

Ducey: Law he signed meant to undermine Prop 127 victory. “Gov. Doug Ducey acknowledged Friday he signed legislation with the specific intent of allowing the affected companies to ignore the mandate proposed in Proposition 127 by paying a minimal fine. And he said the goal of protecting ratepayers outweighs any voter-approved constitutional provision.” By Cap Media Services’ Howard Fischer in Arizona Cap Times. http://bit.ly/2OPlZYF

Brett Kavanaugh: Full transcript of Fox interview. “Fox News anchor Martha MacCallum interviewed U.S. Supreme Court nominee Judge Brett Kavanaugh and his wife, Ashley Estes Kavanaugh, Monday for her show, ‘The Story with Martha MacCallum.’ “ Read the entire transcript in USA Today. (RELATED, in AZCentral:“Amid Kavanaugh furor, Lesko and Tipirneni trade barbs over sexual, domestic violence.”) http://bit.ly/2Q4yHmq

5G brings promise of innovation tinged with conflicts. “Both the federal government and private sector are laying the groundwork for 5G wireless networks, a highly-touted upgrade to mobile internet service that industry leaders say will bring about promising new technologies… But even in the early stages, the approach has already generated criticism and skepticism.” The Hill. http://bit.ly/2ONCKU3

Arizona, California on the same clock? “What time is it in California? If voters decide to abolish the clock-changing practice in November, answering that could become more difficult.” Governing. http://bit.ly/2xSbCvM

Scrabble: The ‘death of the English language’? “Hundreds of words that were previously off-limits to Scrabble players are now fair game.” However, some Scrabble players are saying “ew!” to the changes. Yahoo. http://bit.ly/2ORTUzU