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The Dealmaker: 10/23/2019

Posted by   /  October 23, 2019  /  No Comments

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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

Disturbing trend? Some Valley homebuilders selling new homes to investors for rentals.PBJ talks with real estate consultant Jim Belfiore about the “surprising number of for-rent signs on newly built homes in nearly a dozen new East Valley communities.” (Subscriber Content). http://bit.ly/2qzNPAR

Survey: Rising home prices have made lives worse. <-That according to an overwhelming number of 3,000 home buyers and sellers surveyed in a Redfin-commissioned poll. And respondents weren’t too fond of home flipping, either. For more on those frowns and other major findings, tap it. http://bit.ly/2P92HRb

Blandford Homes gets go-ahead in Gilbert land purchase. Mike Sunnucks reports that Blandford put in the highest bid for this land located at Chandler Heights and Greenfield. RLGR. http://bit.ly/31FJwkn

Gilbert approves $500,000 reimbursement for Heritage District development. Town Council has approved reimbursing the LGE/DMB entity Heritage North Partners for fees associated with an office/hotel/apartment mixed-use at Gilbert and Juniper. RLGR. http://bit.ly/2paYIZw

Scottsdale neighborhood touted as ‘Billionaires Row’ [VIDEO]. 3TV takes a tour of two 8,500-sq.-ft. “resort-style” homes in Silverleaf and Upper Canyon. WATCH: http://bit.ly/31JVEAN

Make Gee comply, residents ask court. “Ahwatukee Lakes residents Eileen Breslin and Linda Swain this week told state Superior Court as they asked it to require owner Wilson Gee to restore the golf course or be held in civil and criminal contempt of court.” AFN. http://bit.ly/35TwaVb

New Fry’s supermarket in downtown Phoenix opens Wednesday. By now the ribbon’s been cut, doors opened and groceries are being bought and bagged at what is likely a very busy day one for Fry’s. AZCentral looks at the crucial role downtown’s first supermarket will play, not just for area residents but for future development as well. http://bit.ly/33YN6HM

FH to consider Daybreak development agreement. After giving the 400-unit project a tentative OK earlier this month, Fountain Hills Town Council is back at it tonight, addressing “the final piece of the Daybreak apartment” puzzle. FHT. http://bit.ly/32J8Qrg

13 cities where you can rent for less than average. And one of those places where “apartment rent sits below the national average” is right here in Arizona. CNBC. http://bit.ly/2MF1MpY

Promenade announces more stores, entertainment coming. It once was a property “lacking the love that it needed” but The Promenade at Casa Grande is getting lots of TLC these days, with a recent grand reopening that saw several new store fronts, and with two national retailers waiting in the wings. PinalCentral. http://bit.ly/2obiAvc

Tempe approves new Class A offices. Mike Sunnucks files a quickie of a report in RLGR regarding the city’s thumbs up on Irgens’ plans for offices on the north side of Tempe Town Lake. http://bit.ly/2ByUbmu

Industrial development, new construction hit highest levels since 2007. Phoenix metro has 11.9 million sq.ft of industrial space under construction in, according to Q3 data from CBRE. Sunnucks has a rundown, including where most of the action is happening. RLGR. http://bit.ly/2MFh3XA

[GUEST COLUMN]: Why a fiscal conservative backs bond questions 1, 2 and 3. It’s been 19 years since Scottsdale approved a new bond program. “We have delayed long enough,” says one of the top fiscal conservatives in the city, Mayor Jim Lane. RLGR. http://bit.ly/2W94E1x

Gold Canyon organizers move to ‘Plan B.’ Pinal Supervisor Todd House, County Manager Louis Anderson and State Land Commissioner Lisa Atkins met with residents last week “to provide updates on new developments in the region and answer questions about the county’s role in future planning.” AJ News. http://bit.ly/2qwLman

Oro Valley to restart talks regarding annexation of state land near Tangerine Road. “The move comes amid rumors that the [Arizona State Land Department] was shopping the [885-acre] parcel to nearby Marana after discussions with Oro Valley were tabled earlier this year.” Daily Star. http://bit.ly/2PdHAgl

Perfect Weather For The Perfect Polo Party Next Weekend – http://bit.ly/2BOjFwp

RLG HIRING: Rose Law Group is seeking a receptionist for our fun, fast-paced firm that offers opportunities for advancement.http://bit.ly/2UgnCCk

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

Hundreds of mayors call on Congress to extend the solar Investment Tax Credit. “A bipartisan group of 231 mayors from Tacoma, Wash to Ft. Lauderdale, Fla. sent a letter to Congress [yesterday] urging them to pass the Renewable Energy Extension Act, a five-year extension of the solar Investment Tax Credit.” SEIA. http://bit.ly/33O8K1A

Ducey says fix needed to address rare situations like Petersen’s.  While there IS a way for “county supervisors to suspend” people like Paul Petersen, there’s no “law or procedure to oust” such officials. Gov. Ducey wants that remedied. A CMS/Howard Fischer report in ACT. (PAYWALL). http://bit.ly/2N8SNMC

Census officials say an accurate count is priority in all communities in 2020. Even though “the census questionnaire can be completed online,” officials “still will rely on door-to-door canvassing.” After all, the “fair distribution of more than $675 billion in federal funds” is at stake! CN. http://bit.ly/2pLqhIX

We need a bar exam for politicians. “We license lawyers, doctors, teachers, accountants, plumbers, real estate brokers, marriage counselors, dental hygienists, cosmetologists… But a politician has the power to cause more damage and expense than even the worst hair stylist.” By: P.J. O’Rourke in WaPohttp://bit.ly/32HBhFY

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