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The Dealmaker: 10/31/2018

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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

 

 

 

 

Casa Grande council approves development agreement with Lucid. “City Manager Larry Rains declared it to be a ‘monumental evening’ prior to the vote, noting that the effects of the plant will ‘diversify the economy’ for not only Pinal County but for the state also.” CG Dispatch. http://bit.ly/2DfB43K

Perkins gets permanent nod for Paradise Valley town manager position.PV has named the city administrator of Creve Coeur, Missouri, Mark C. Perkins, as its next town manager. The selection “comes on the heels of a nationwide search spearheaded by Paradise Valley Vice Mayor Jerry Bien-Willner,” who says “even on paper, Mark Perkins showed tremendous potential to serve as our next town manager.” PV Independent. http://bit.ly/2AEso4u

$700 million mixed-use development proposed along downtown Scottsdale canal. “Carter Unger’s father, Fred Unger, spent decades acquiring property along the canal in Scottsdale with a dream of developing a second phase to his SouthBridge project at Stetson Drive north of Sixth Avenue… Now, the younger Unger is planning to carry on the family legacy.” PBJ (Subscriber Content) http://bit.ly/2DddrsD

6 parcels of State Trust Land will be auctioned in November. On the low end of the bidding scale: “Five parcels totaling of about 30 acres near Tucson Mountain Park.” At the high end: “A parcel consisting of about 51 acres west of 40th Street and south of Loop 202 in Phoenix.” Full auction info available via AZRE. http://bit.ly/2JspkuZ

Where home prices are falling the most. In Q3, the U.S. median home price saw the “slowest rate of annual appreciation since the second quarter of 2016.” REALTORMag has home-price heat-map results for 150 metros, including Phoenix, Tucson and Lake Havasu-Kingmanhttp://bit.ly/2CTtKcT

Millennial homeownership rate rises to 37%. “Millennial households, mostly first-time homebuyers, registered the largest gains among all households, a 1.2 percentage point increase from a year ago.” The complete rundown of the Census Bureau’s Housing Vacancy Survey at Eye On Housing. http://bit.ly/2RsxRkl

For Halloween, ATTOM finds fewer zombie homes. The zombie housing apocalypse is no longer upon us: “The number of vacant foreclosures is now less than one-fourth of the more than 44,000 in 2013.” That’s the main takeaway from ATTOM’s 2018 Vacant Property and Zombie Foreclosure Report. How does Arizona fare among the living dead? Find out in Builderhttp://bit.ly/2qncZ2w

Top 25 builders killing it via social media. Which builders garner the most “likes and follows”? “A review of accounts for the country’s largest builders shows that while all of them have a social media presence, some are true masters.” Builder. http://bit.ly/2CQCiBg

[VIDEO] Feisty feline traps agent at showing“Feisty” is an understatement — this is one CRAZY house cat! “I think they need to lock this cat up for showings. This is why they haven’t sold the house,” says the cornered, panic-stricken real estate agent. WATCH —> http://bit.ly/2St7egx

4 more shops coming to growing Scottsdale Quarter in 2019. “Phase III on 73rd Place will complete the Quarter, and its 800,000 square-feet of restaurants, shops and offices. The final portion will add 35,000 square-feet of shops and restaurant with about 350,000 square feet of residential above.” AZCentral. http://bit.ly/2Q8tmLr

Phx Transportation 2050 report shows ongoing progress. “[The] plan includes a $1B investment planned for FY 2018-2023 in improving the city’s high capacity transit network, including developing bus rapid transit, and light rail improvements and expansion.’ ” Get report highlights and access the whole thing at AZBEX. http://bit.ly/2CT3EGU

Policing for profit? California towns bill residents thousands for nuisance violations. You’re a homeowner. You convert a back porch into a TV room. You do so without permit. Inspectors find out. You pay a $900 fine, and the structure is demolished. End of story? Dream on. Because you live in California, you also get slammed with a $26,000 bill. The full story along with a VIDEO report on this and other “policing for profit” incidents, courtesy Reason. http://bit.ly/2RmTEd4 

Scottsdale Polo Party In Less Than Two Weeks – http://bit.ly/2PvJyJM


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 Meritage Homes Chairman & CEO Steven J. Hilton and Christopher Todd Communities CEO Todd Wood. Plus, Belfiore Real Estate Consulting President & Founder 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 

 

 

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


Airobotics announces additional investment after momentous year. (Disclosure: Rose Law Group represents Airobotics Ltd.) Leading Israeli automated drone startup Airobotics has secured $30M in a new round of funding, bringing its total capital raised to $101M. Airobotics recently launched its North American headquarters in Scottsdale and earlier in the year was honored by The Wall Street Journal as one of the Top 25 Tech Companies to Watch in 2018 and as one of the world’s “Most Innovative Companies” by Fast Company. Much more on Airobotics and how it plans to use the new funding, in Rose Law Group Reporter. http://bit.ly/2SA7eeI

Waymo self-driving cars in Arizona now truly driverless. “Nobody is behind the wheel in some of Waymo’s white minivans shuttling people around Chandler and other East Valley cities, the company announced Tuesday.” AZCentral. http://bit.ly/2Q9OUaC

Sandra Day O’Connor ‘rejected Chief Justice Rehnquist’s marriage proposal’ in 1950s. “The revelation comes from author Evan Thomas, who found letters between the two during his research for a book.” Daily Beast. http://bit.ly/2EToIQe 

Water board election a dry topic for most voters. “Candidates for the Central Arizona Water Conservation District board aren’t running for the sexiest elected office in the state…. They are, however, going to be responsible for ensuring 1.5 million acre-feet of water from the Colorado River gets to central Arizona.” How you like ‘em now? Arizona Cap Times. http://bit.ly/2SAih7q

APS staying out of Arizona Corporation Commission races so far. “The lack of spending from APS, should it continue, is a marked change from the 2016 commission elections.” AZCentral (RELATED, in AZ Cap Times: “Campaigns spend nearly $54 million on renewable energy ballot measure.” • “Outside groups big spenders in races for statewide offices.” • In AZ Daily Sun: “APS funnels $30M into swaying prop 127 votes.”) http://bit.ly/2OfmxWI

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