Leases are voidable by a non-signing spouse. Rose Law Group Real-Estate Litigation-Department Chairman Adam Martinez writes in the latest edition of his Ask Adam Real Estate Q&A column. In response to a “lease transaction” inquiry from a “broker [who] represents the owner of a commercial building,” Adam explains Arizona law pertaining to signature requirements for leases and other agreements — in Rose Law Group Reporter. http://bit.ly/2igIk0p
Apartment building owners face higher rates on loans. From a report in Phoenix Top 5 News Bulletin published by ORION INVESTMENT REAL ESTATE: “Long-term interest rates rose by well over 50 basis points in the last months of 2016, as the yield on the benchmark U.S. Treasury bonds took off… That will make it tougher for borrowers to make deals work. Meanwhile, lenders have not shifted the terms they offer or bent their underwriting requirements to help close deals.” See the report for details and industry insider takes on rates, underwriting, and capital availability. http://bit.ly/2ikhWFU
400-unit complex coming to Avondale. “Four-hundred apartments in 22 buildings may soon be coming to a former movie studio site…. [P]lanned units will consist of 72 single-bedroom, 296 two-bedroom and 32 three-bedroom units… Access to [‘Avalon,’ a Lervick LLC development] will be via a gated entrance off 103rd Avenue.” And based on the rendering, the late movie star Esther Williams would have probably loved living here! Check out what we’re talking about and get further design details at AZBEX. http://bit.ly/2idxUTL
Yes, it’s still more affordable to buy (in Maricopa County) than rent. “[ATTOM Data Solutions] compared the monthly rents of three-bedroom apartments to monthly payments on median-priced homes (including the mortgages, property taxes, and insurance) across 540 counties.” Get the heat-map results plus a link to ATTOM’s complete report at REALTORMag. http://bit.ly/2iGExuc
Everything you ever wanted to know about housing in 2014-15. “HUD calls the [American Housing Survey] ‘The most comprehensive survey of its kind.’ Mortgage News Daily’s Jann Swanson presents some of the survey’s “representative findings,” including figures for “housing costs,” “serious crime,” and “food insecurity” in select metros around the country. And sure to be a hit with chart & graph fanatics, MND has a link to the AHS Table Creator website where visitors can “view the results and construct custom tables and charts.” http://bit.ly/2j6XHfI
4 cities where millennials actually act like grown-ups. “Just over 35% of people ages 18 to 35 own a home… But in four cities in America [including one in Arizona], the majority of millennials are bucking that trend, according to a study released Tuesday by financial firm SmartAsset.” Head to MarketWatch to find out which Arizona city that is. HINT: The name of the city is the same as a movie character played by Johnny Depp. Too easy? (If any newcomers to the state are reading this, a few are probably wondering, “There’s a town in Arizona called Scissorhands?”) http://bit.ly/2j6WZz0
HPPI SPACES OUT – Difference of opinion between appraisers and homeowners widens. “Appraisers and homeowners are less eye-to-eye on home value for the first time in six months, with the gap between their opinions widening in December to 1.33 percent, according to Quicken Loans’ National Home Price Perception Index (HPPI).” More on HPPI as well as the dip in the “latest Quicken Loans National Home Value Index (HVI),” in RIS Media. http://bit.ly/2igOrlj
4 steps Ben Carson should take as HUD secretary. HousingWire presents “four steps that Carson can take as HUD secretary to help bridge the policy gap between health and housing.” (Brief commentary following each brought to you by Dealmaker.) 1. Educate the public that access to affordable housing is a health issue. (Sorry, but this actually sounds a little crazy. What next? Teaching that homebuilders are actually surgeons?) 2. Highlight the need to transform our homes and communities to enable ‘aging in place.’ (Okay, that’s better.) 3. Launch a major supportive-services initiative for Medicare beneficiaries in publicly-assisted housing. (And how much will THAT cost?!?) 4. Promote the use of telehealth and high-speed broadband in HUD-assisted housing. (And maybe call it Healthflix?) http://bit.ly/2jEpiWy
Cameron’s $5M + deals of the day – http://bit.ly/2ikbXRE
Prestigious indoor polo matches at Barrett-Jackson this weekend – http://bit.ly/2j1H6bk
Get ready to love where you work: Rose Law Group is hiring a Commercial Litigator – http://bit.ly/2hRxUZH
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