The Dealmaker: 11/7/2018

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





America’s split in housing. “Not only are people living in different political realities, but they’re contending with very different housing realities and paying different amounts for it.” RED or BLUE: What counties have higher  homeownershipnumbers? Where do prices appreciate more? Where are homes more affordable? REALTORMag takes a graphic look at the housing political divide.

Stunning Scottsdale estate being auctioned to highest bidder. • 14,231 sq. ft. • 8 bedrooms • On 3.5 acres • Located within Estancia • Take a SLIDESHOW tour of former Magellan Fund Manager Peter Lynch’s compound, before he bids it farewell •  In AZ Business Magazine.

Uneven recovery: Many high-foreclosure ZIP codes haven’t bounced back. “[A]cross many of the country’s largest markets, the recovery has been far from universal. Home values in more than a third of major markets still lag levels from a decade ago. But that doesn’t tell the entire story.” Zillow.

Are golf communities a thing of the past? “While some developers and builders continue to tout golf community developments, others are repurposing abandoned courses.” Builder.

The next trend in roofing: Solar shingles“How CertainTeed, Sunflare, Tesla and 3 IN 1 ROOF aim to meet the needs of residential roofing.” Builder.

UA-led report: Building water-efficient cities requires collaboration. While coordination does indeed happen “between water managers and urban planners,” researchers conclude that “it does not happen as often as both would like it to.” A look at why that is, plus some strategies for improving such H2O teamwork, in AZ Business Magazine

2018’s best & worst places for veterans to live. “WalletHub compared the 100 largest U.S. cities across 18 key indicators of livability, affordability and veteran-friendliness. They range from share of military skill-related jobs to veteran income growth to availability of VA health facilities.” We salute Gilbert and Scottsdale, both of which rank high when it comes to taking care of those who have served and defended our country.  

Gateway Airport celebrates busiest September in history. “Gateway Airport has seen double digit growth in passenger numbers during the past year and September 2018 marks the fifth consecutive month of record-setting passenger activity levels,” KTAR reports.

Valley Leadership names Man & Woman of the Year. “Each year, an outstanding Valley man and woman are selected based on their vision, innovation, measurable impact on the lives of others and their extraordinary service to our community.” This year it’s John Graham and Colleen Jennings-Roggensack! AzBigMedia. 

California voters reject rent control measure. Current law: “Rent control cannot cover single-family homes, condos or any housing built after 1995. When a tenant vacates a rent-controlled unit, landlords are allowed to raise rents to whatever price the market will bear.” Had it passed, Proposition 10 would have repealed the current law and changed much of that. Sac Bee.

The Only Place To Party This Weekend With Polo, Football And Rugby –

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!

Special Election Coverage

U.S. Senator. Polls said Democrat Krysten Sinema and Martha McSally (R) would go own to the wire in Arizona’s most focused-on contest, and they did. The Republic said late last night the race was too close to call, with McSally at 49.34% and Sinema, 48.42%. An automatic recount is required when the results from the official canvass show that the difference in total votes cast for McSally and Sinema is less than or equal to the less amount of one-tenth of 1 percent, or 200 votes.

U.S. House of Representatives. All Arizona’s members of the U.S. House were re-elected, plus former Phoenix Mayor Greg Stanton (D) won the seat in CD9, 51.9%-40% over Stephen Ferrara (R). Although damned by his family, Rep. Paul Gosar easily defeated Democrat David Brill 69% to 30%.

Governor. Republican Gov. Doug Ducey thanked supporters Tuesday night after voters reelected him to the post. The Associated Press called the race for Ducey early in the evening. Ducey had 58.8% of the vote to David Garcia’s 40.2%.

Secretary of State. With 51.3% of the vote, political outsider Steve Gaynor (R) could be credited with an upset over legislative veteran Katie Hobbs, (D) with 48.7%.

Attorney General. Incumbent Republican Mark Brnovich far outdistanced Democrat January Contreras. The AG had a whopping 53.4% of the vote to Contreras’ 46.6%

State Treasurer. Kimberly Yee (R) has been declared the winner over Mark Manoil (D).

Corporation Commissioner. Two seats up for grabs among four candidates: Republicans Rodney Glassman & Justin Olson, and Democrats Sandra Kennedy & Kiana Maria Sears. Returns show both Republican candidates with the edge.

Superintendent of Public Instruction. Republican Frank Riggs, a former California congressman and teacher Kathy Hoffman (D) appear to be in a race to close to call, with Riggs at 50.2% and a slim 6,720 votes lead to Hoffman’s 49.8%.

Phoenix Mayor. Kate Gallego, Moses Sanchez, Nicholas Sarwark, and Daniel Valenzuela battled it out, with Gallego currently crushing Valenzuela by a whopping  44 percent to 26 percent. Still, a runoff might be unavoidable. Stay tuned on this one! More here:

Scottsdale City Council. It was a race for three council seats among Scottsdale City Council candidates that included incumbents Kathy Littlefield*, Linda Milhaven* and David Smith and challengers Bill Crawford and Solange Whitehead* — *asterisks* denote the leaders. More here:

Mesa City Council. Jake Brown, Jen Duff, Francisco Heredia, Mark Yarbrough were vying for two council seats. At last check, Duff leads  Brown by less than 200 votes, while Heredia vs. Yarbrough is way too close to call! They’re at 50 percent a piece with a separation of only 31 votes in favor of Heredia!

Peoria City Council. Vicki Hunt leads Brittany Burback for the seat in a seat in Acacia District.

Surprise City Council. In this runoff, an electoral remnant from the August primary, Roland F. Winters has a comfortable lead over challenger Jim Cunningham and appears headed to another term.

Surprise Mayor Sharon Wolcott resigning from office. Not an election result, but related and important enough to mention. AZCentral is reporting that Surprise Mayor Sharon Wolcott has announced her resignation, effective November 16. “In an advance interview with The Arizona Republic, Wolcott said she is newly married and hoping to spend more time with her husband and travel.” More here:

El Mirage Mayor. Political newcomer Alexis Hermosillo holds a lead over Mayor Lana Mook.

Flagstaff City Council. Six candidates — Austan Aslan, Paul Deasy, Dennis Lavin, Alex Martinez, Regina Salas and Austin Shimoni. Three seats — two go to Asian and Austin — one still up for grabs between Deasy and Salas.

Flagstaff Mayor. Incumbent Coral Evans barely squeaked out a victory. Kidding. She ran unopposed and will serve a second term.

Navajo Nation president. Jonathan Nez has opened up a sizable lead over Joe Shirley Jr.

Proposition 126. Proposition 126, launched by the state Realtors association, would prevent the state from taxing services. Voters like this one. It’s passing, big time.

Proposition 127. Opponents of this California-born energy initiative left little doubt their feelings as they crushed proponents 69.77% to 30.23%. The Constitutional Amendment would replace Arizona’s current plan for increasing renewable energy use by imposing a new mandate requiring nongovernmental electric utilities to increase the portion of their retail energy sales generated from certain types of renewable energy resources to 50% by 2030.

Proposition 305. Had it passed, the proposition would expand eligibility for education empowerment scholarship accounts to increase the number of eligible students enrolled in kindergarten through twelfth grade, with greater funding provided for low-income students. The measure was soundly defeated 65.11% to 34.89%.

Scottsdale Proposition 420. YES votes have it — on the anti-‘Desert EDGE’ proposition that would require voter approval to alter the natural state of preserve lands.

Scottsdale road improvement tax increase. Voters apparently want transportation improvement projects, approving what amounts to a one penny tax on every $10 purchase in order to make ’em happen.

Mesa Home Rule. Will Mesa get to set its own budget? The request to renew an override of the state expenditure limit under the ‘home rule’ option, The Republicreports that the YAYs have it, 57 percent to 43 percent.

Mesa fire and police facility bond issue. Should there be a sales tax increase to build new facilities? YES is the answer from voters, 59 percent to 41 percent.

Mesa parks and recreation. More athletic fields and parks along with associated amenities, not to mention library improvements, all to the tune of $111 million? Bring ‘em on, say voters.

Mesa soccer complex bond issue. Voters are currently saying NO to this request to build the youth sports complex, Mesa Plays.

Mesa hotel bed tax. From 5 percent to 6 percent, to help fund Mesa Plays? Very close, but, alas, the NAYs have it, 51 percent to 49 percent.

Gilbert fire and police facility bonds. Voters have approved taxes to fund the construction of a fire and police public safety training facility.

Pima County: Prop 463. If approved, nearly half-a-billion bucks would have been used to fix roads across the county. That’s not going to happen, as voters soundly rejected it.

Arizona Supreme Court. Voters overwhelmingly approved keeping  Justices John Pelander and Clint Bolick on the bench.

Gubernatorial election news from neighboring states. Because you probably haven’t had your fill of election stories, and also because there likely won’t be another election like the one we had yesterday for quite some time, and because we’re a little bit election-crazed here at Dealmaker HQ, here are a few more election items from bordering states along with links to each. Enjoy!

• Colorado elects nation’s first openly gay governor.

• What everyone wants from California’s new governor.

• Lujan Grisham wins race for New Mexico governor.

• Steve Sisolak becomes Nevada’s first Democratic governor in decades.*|FACEBOOK:LIKE

Affordability, disruption & rising interest rates lead top ten issues facing real estateRead more

Washington developer buys Goodyear land for multifamily project Read more

Dorn Homes Launches at Talking Rock in Prescott this month Read more

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November 2018