The Dealmaker: 11/30/2018

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





KB to open new Glendale community. Marbella Ranch • El Mirage & Glendale Ave. • 84 one- and two-story homes • Six floor plans • From the low $200,000s • A rundown of Marbella’s community amenities and design features • In Builder

Luxury condos to replace Tempe Mobile Home Park. The property, now vacant, overgrown with weeds and full of the scattered debris left behind by former residents, is slated to be the site of a new development called The Level” — “80 condos that [Porchlight Homes] says will have an ‘owner occupied feel’ as opposed to an ‘apartment’ feel.” Arizona Mirror.

Most expensive home sales in Phoenix. Arizona Foothills Magazine top home sales (11.19.18 – 11.25.18) were off $1 million from the previous week’s total, a sizable DROP to be sure, but still less than the amount of dimes dropped so far in the Mueller probe. Among the neighborhoods showcasing homes in this installment: Sonoran Crest, Ancala, The Sycamore, Silverleaf at DC Ranch and The Village at Mountain Shadows.

Pending home sales slide in October. The 2.6% dip represents the “tenth straight month of annual decreases,” reports Builder. Is this slippage a “pause” or a “trend”? NAR and MBA’s respective Chief Economists, Lawrence Yun and Mike Fratantoni.

Forecasters: Home buyers, sellers may have tough road ahead. “Rising rates and home prices will overshadow inventory increases, making it more difficult to buy or sell a home next year.” That’s the big takeaway from® in its 2019 Housing Forecast, which includes “sales and price” predictions for Phoenix and Tucson

Recovery interruptus: What to do next? Builder’s John McManus sounds off on construction productivity, pegging it as the “one lever builders and all of their partners have yet to bring fully to bear on a housing market so supply-constrained that it may choke the recovery to death.”

Light rail opponents inch closer to potentially stopping extensions. “Anti-light rail advocacy group and Phoenix political committee, Building a Better Phoenix filed a ballot initiative at City Hall Wednesday to stop light rail expansions and to instead use the funds towards infrastructure improvements.” Downtown Devil.

Queen Creek seeking contractors, designers in 5 areas including East Park. “Bids and proposals are being sought… to complete the design of the 91-acre regional East Park on the north side of Queen Creek Road, between Signal Butte and Meridian.” Details, plus info on the other town projects open for bid, in QC Independent.

Peoria project hit by materials cost increases due to tariffs. “A new potable water booster station to serve growth in northern Peoria is on track to begin construction next month, but not without becoming a victim of new tariffs and high labor costs.” YourValley.

Californians flocking to Arizona. Out the “nearly 262,000 people” that moved here last year, “60,000” came from California. But as Cap Media Services Howard Fischer reports in CV Bugle, “that’s only a piece of the picture about the state’s growth rate.”

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! 



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

Teenage baseball player with autism serves as inspiration for others to follow their dreams. “He’s a pitcher in the Cal Ripken Jr. Scottsdale League, and his team will be heading to the championship game this weekend.” WATCH Johnny Samolinski “chasing his passion” in Jennifer Auh’s FOX 10 report.

Border safety, trade high on agenda for Republican governors meeting in Scottsdale. “While reiterating his firm stance on security, [Gov. Doug Ducey] called the business relationship between Arizona and Mexico crucial to the state’s economy.” Cronkite News has the conference recap.

Lawsuit filed against Doug Ducey, Jon Kyl over future of John McCain’s Senate seat. “Lawyers in Chicago and Arizona have launched a long-shot legal bid to let Arizona voters, not Gov. Doug Ducey, decide next year who will hold the Senate seat once held by John McCain.” AZCentral.

Hobbs rebukes Howard Dean over unfounded election ‘cheating’ allegation. “Incoming Secretary of State Katie Hobbs took former Democratic National Committee Chairman Howard Dean to task on Twitter after he made a baseless suggestion that GOP ‘cheating’ kept Maricopa County a Republican stronghold…” Arizona Mirror (RELATED: “Political storms ahead for Dem elections head in red state.”)

Dry and getting drier: Water scarcity in Southwest is the new norm, study says. Higher temps. “Shrinking snowpack.” Desalinization isn’t all it’s cracked up to be. OTOH, credit goes to “Colorado River managers  for creating some flexibilities in the system.” Those are just a few of the key takeaways from the recently released National Climate Assessment.—>

‘Getting close’: Outline of Colorado River drought agreement takes shape in Arizona. “The latest proposal has yet to be endorsed by all sides in the negotiations. And not everyone at Thursday’s meeting voiced support for the plan. But many members of a state-convened steering committee said they think the new compromise proposal looks viable…” AZCentral.

Arizona Supreme Court deals setback to Hopis in Snowbowl effluent dispute. Thursday’s ruling allowing Snowbowl to pack slopes with frozen, treated wastewater not only “appears to be the last gasp in a fight that dates back decades,” but it could conceivably give a whole new meaning to the concept “ski runs.” A Cap Media Services/Howard Fischer report in Arizona Daily Star (sans the part about “ski runs.”)

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November 2018