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The Dealmaker: 01/08/2019

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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

 

 

Support for the Talking Stick Resort Arena renovations remains strong at second public hearing. (Disclosure: Rose Law Group represents the Phoenix Suns.) At the second of five Phoenix-run community hearings on the TSR Arena proposed renovations, a north PV area gathering last evening displayed an overwhelming show of support. “This is about doing the right thing for the city.” “If it’s not done, it will crush downtown.” “I don’t think people understand that this doesn’t cost us any money.” That’s just a sampling from some of the 16 people who spoke out in favor of the deal. More in the full recap at RLGRhttp://bit.ly/2FcftKB

Second public hearing regarding renovation of Talking Stick Resort Arena. WATCH the most recent hearing in its entirety. http://bit.ly/2shfbtq

‘They’re not paying for this’: Misconceptions abound in proposed Phoenix arena deal. “Talking points for Talking Stick: Taking a closer look at the @Suns arena situation, courtesy @BobYoung in The Athletic.” (Subscriber Content). @TSRarena calls the article “An informative piece worth reading.” (#InvestInDowntown) http://bit.ly/2siqNMI

Jerry Colangelo discusses the vision for where we are now. “Colangelo talks original deal: Arena transformed downtown Phoenix and fulfilled his vision.” The Athletic (Subscriber Content). http://bit.ly/2CVZpu2

Falling mortgage rates raise hopes for battered housing market.“Mortgage rates have fallen to around their lowest levels in eight months, offering a potential boost to the housing market after a rough patch in recent months,” reports The Wall Street Journal. If rates drop another 0.2%, millions in immediate refinances are expected. (Subscriber Content). http://bit.ly/2VxBAQx

Taylor Morrison offers mortgage buydown program. The program slices the “rate by 2% in year one and 1% in year two before [the] loan returns to fixed rate.” Further details, plus TM Chairman and CEO Sheryl Palmer, and TM Home Funding president, Tawn Kelley both comment on the recently launched program — in Builderhttp://bit.ly/2VDs4v9

KB Home to offer ‘wellness’ software as smart home race heats up. “[The] homebuilder will sell an add-on, known as Darwin… to buyers in California, with plans to eventually roll it out nationally. Darwin is designed by Delos, a New York-based technology startup that has raised over $200 million to develop what it calls ‘wellness real estate.’ ” Forbes. http://bit.ly/2Qu4VYg

Experts weigh in on what the 2019 housing market will bring. Chief economists and financial analysts from NAR, Redfin, Zillow, NAHB, MBA and dot-coms Bankrate and Realtor deliver their “slowing down, but not stalling” housing-market forecasts in the Washington Posthttp://bit.ly/2FielnN

Homebuying sentiment falls to National Housing Survey low. “A few more Americans decided it might be a good time to buy a home in November, but boy did they change their minds in December.” Get the rundown of Fannie Mae’s Home Purchase Sentiment Index in Mortgage News Dailyhttp://bit.ly/2RcJAb7

GOLDWATERS TO PARK CENTRAL?! Redeveloped Park Central buildings will bear names of original stores. Burgbacher, Straus, Graham, Lieb, Goldwater and Diamond — each family was “involved in Park Central’s origins in some way.” Now, those families “have all granted Plaza Companies and Holualoa Companies… permission to use their family names on the property’s refurbished buildings.”AZRE. http://bit.ly/2C7RckL

Changing of the guard at Chandler City Hall. Now in his “final few days as Chandler’s mayor,” Jay Tibshraeny talks with EVT about his new “gig” as justice of the peace; his accomplishments while councilmember, “Boy Mayor,” as well as state senator; and the likelihood he’ll run a third time for mayor against Mayor-elect Kevin Hartke. http://bit.ly/2Qv5Jw8

A path forward: Freshman Paradise Valley councilwomen discuss priorities. New councilmembers Ellen Andeen and Anna Thomasson chat with Paradise Valley Independent about what they “deem as the town’s most pressing issues for this year.” http://bit.ly/2RgQ7kT

Pollack: Slowing but continued growth. Back from holiday break, The Monday Morning Quarterback wastes no time in diving into a topic that has been a major concern these past few months: A declining stock market. MMQ looks into the historical correlation between bear markets and national recessions, and also hits us with tons of related economic info, including these data ‘Snapshots’ —> U.S.: Job Gains • Manufacturing. AZ: Employment – Arizona, Maricopa & Pima Counties. http://bit.ly/2H0JhLH


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!

 


Opportunity Zones hearing canceled amid IRS shutdown; Dan Gauthier, Rose Law Group transactional attorney handling many O-Zone investments, comments on the impact. Dan Gauthier: “Due to the government shutdown, the IRS has canceled a key public hearing on the Opportunity Zone program, to be rescheduled after funding to the Treasury Department is restored. We will in all likelihood have to wait until February for further Opportunity Zone guidance.” Access the official IRS notice via the report in Bloomberghttp://bit.ly/2RBhIgd

Swearing in highlights: Ducey says no spending sprees as he prepares for second term. As Gov. Doug Ducey “was sworn in for his second term, he made clear that he plans to hold the line on spending this year.” (RELATED, also from AZ Mirror: “Hobbs, Hoffman give Dems something to cheer about in inaugural speeches” • “Hoffman takes oath of office on children’s book.”) http://bit.ly/2LWSRy8

Flagstaff joins Mesa, Scottsdale by preparing for potential tax ban litigation. “[Prop. 126] amended the state constitution to prevent future taxes on services unless they were already in effect as of the end of 2017. But now, city officials are concerned that… it could take a big chunk out of local tax increases approved by voters this November.” Arizona Daily Sun. http://bit.ly/2CWMEz8

[IN-DEPTH] What fresh hell awaits during Arizona’s new legislative session? Phoenix New Times: “Will politicians set Arizona’s future aflame with some bone-headed idea or a brazenly unconstitutional scheme? Possibly.” http://bit.ly/2VCb5t7

Jon Kyl say he’s not interested in Pentagon post. “[T]he retired Arizona Republican senator, became the second person to wave off Trump’s overtures last week, telling the White House he is not interested in the job.” POLITICO. http://bit.ly/2Re1kmq

Gatwick and Heathrow buying anti-drone equipment; comment by Rose Law Group Cybersecurity, Privacy and Emerging Technologies Chairman, Troy Roberts. BBC News report on how the UK airports are employing anti-drone technology after a holiday “drone scare” shut down Gatwick costing all stakeholders millions of dollars. • Troy Roberts: “As drone technology progresses, anti-drone technology is not far behind. The emerging use of anti-drone technology, whether by private, governmental, or other actors, may raise as many legal issues as drones do themselves.”  http://bit.ly/2M0cXY4

Sonoran governor: Build bridges, not walls. “With the backdrop of a presidential trip to the southern border and a government partially shut-down over disagreement on funding for a border wall, Gov. Claudia Pavlovich of Sonora, Mexico, told the Arizona Mirror she rejects plans to build a wall along the length of the U.S.-Mexico border.” http://bit.ly/2CZe8o5

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  • Published: 1 week ago on January 8, 2019
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  • Last Modified: January 8, 2019 @ 4:30 pm
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