Will Individual Agents Be The Real Winners In The IBuyer Game?

While iBuyer companies continue to make news, there's an interesting trend afoot that virtually no one seems to have noticed: Opendoor, Knock, Offerpad and Redfin might not be as formidable as the press makes them out to be. Could it be that the real winner in the iBuyer arena is the agent conducting an old-fashioned print marketing campaign?

Read more... https://www.inman.com/2019/02/25/will-individual-agents-be-the-real-winners-in-the-ibuyer-game/

Morrison Ranch commuity nears completion in Gilbert

The 2,000-acre master-planned community will focus on multifamily and commercial development next.

Read more... https://www.bizjournals.com/phoenix/news/2019/02/25/four-homebuilders-under-contract-to-finish-2-000.html

$7,100 rent for a northwest Phoenix condo. It must be spring training time

Anyone still trying to rent a home near a ballpark for spring training could strike out.

Read more... https://www.azcentral.com/story/money/real-estate/catherine-reagor/2019/02/17/home-rental-prices-soar-spring-training-nears-metro-phoenix/2858695002/

Want a tax break in downtown Phoenix? You may have to pay for it in affordable housing

Most large cities in the U.S. require developers who erect luxury apartment complexes to put money into a pot for affordable housing. 

Read more... https://www.azcentral.com/story/news/local/phoenix/2019/02/22/want-tax-break-phoenix-require-you-build-affordable-workforce-housing/2884658002/

Construction update: Great Wolf Lodge Arizona, Ritz-Carlton

From ultra-luxury to family-friendly, Phoenix is about to see some striking new hotel options. Here's a look at three new additions on the horizon for the Valley's resort scene. 

Read more... https://www.azcentral.com/story/travel/arizona/2019/01/07/ritz-carlton-great-wolf-lodge-civana-arizona-construction-update/2303987002/

New Caesars hotel to be built at Scottsdale Fashion Square

Caesars Entertainment Corp. said it will build a non-casino hotel on the northern side of Scottsdale Fashion Square, with construction slated to start later this year.

Read more... https://www.azcentral.com/story/money/business/2019/01/28/caesars-republic-scottsdale-non-casino-hotel-planned-scottsdale-fashion-square/2699905002/

If you really like Fendi, the Italian designer is building homes in Scottsdale

Developers, architects and government leaders gathered Wednesday to break ground on the highly anticipated retail and dining portion of the Palmeraie master-planned community, as Fendi Private Residences was announced as the first luxury name associated with the $2 billion project.

Read more... https://www.azcentral.com/story/news/local/scottsdale/2019/02/14/fendi-homes-scottsdale-paradise-valley-palmeraie-five-star-development-ceo-jerry-ayoub/2861593002/

These 1 percenters are NYC real estate’s biggest losers

Don't believe the brochures. A Billionaire's Row apartment can be a terrible investment.

"One of the things that I struggle to wrap my head around is why people continue to park money in high-end New York real estate when it's not a very lucrative asset class," said Grant Long, senior economist at StreetEasy, a New York listing platform.

Read more... https://nypost.com/2019/02/16/these-1-percenters-are-nyc-real-estates-biggest-losers/

Housing Sentiment May Be Bouncing Back

Respondents to Fannie Mae's January National Housing Survey adopted a new outlook to go along with the new year, primarily in responses about their personal financial situation.  As a result, the Home Purchase Sentiment Index (HPSI) increased 1.2 point to 84.7, taking back some of the 2.3 points it shed in December.

Read more... http://www.mortgagenewsdaily.com/02072019_national_housing_survey.asp

The U.S. Cut Taxes. Why Will Fewer Folks Get Refunds?

U.S. taxpayers are filing their first returns under the 2017 tax code overhaul that lowered rates for most people. What makes the paperwork headaches tolerable for many is the promise of a tax refund at the finish line. Yet more taxpayers will end up with no refund, or a smaller one, compared with a year ago, before the lower rates fully took effect. How could that be? The explanation rests with the many other changes that made it into the revised tax code. Some Americans are venting their surprise and anger.

Read more.... https://www.washingtonpost.com/business/the-us-cut-taxes-why-will-fewer-folks-get-refunds/2019/02/09/c7d34af4-2c40-11e9-906e-9d55b6451eb4_story.html

Daily Rate Update for February 8, 2019

Friday – February 8, 2019

Higher household incomes in January pushed home purchase sentiment higher during the month, reports Fannie Mae. The Home Purchase Sentiment Index rose 1.2 points to 84.7 last month though it lower by 4.8 points compared with the same time last year.

Fannie Mae's report revealed that there was an 8-percentage point increase in the net share of Americans who reported higher household income from January 2018. "Overall, these results are in line with our forecast that, amid improving affordability conditions, home sales should stabilize in 2019 after declining last year for the first time in four years," said Doug Duncan, senior vice president and chief economist at Fannie Mae.

Consumer credit in the U.S. hit a record high in December due in part to low unemployment and steady income growth, reports the Federal Reserve. Consumer credit rose $16.6 billion in December to an all-time high of $4 trillion. That's trillion! In December, the report showed that credit card debt rose 2% while auto and student loans were up 6%. Mortgage loan data is not included in the report.

18 Commercial Real Estate Trends To Dominate In 2019

Goodbye 2018, hello 2019! As the new year approaches, Bisnow spoke with several industry execs, researchers and economists to uncover the major trends expected to dominate the commercial real estate industry in the coming year. From the rise of opportunity zones to a slowdown in industrial absorption, these are 18 trends experts forecast for 2019.

Read more at: https://www.bisnow.com/national/news/commercial-real-estate/commercial-real-estate-trends-to-dominate-in-2019-95890?utm_source=CopyShare&utm_medium=Browser

Read more https://www.bisnow.com/national/news/commercial-real-estate/commercial-real-estate-trends-to-dominate-in-2019-95890

Phoenix's Desert Ridge City North land sold in bankruptcy deal, development to finally restart

Development on a big chunk of northeast Phoenix's popular Desert Ridge community is no longer on hold. That means more money could start flowing to Arizona schools.

Read more https://www.azcentral.com/story/money/real-estate/catherine-reagor/2019/01/30/phoenix-desert-ridge-land-sells-deal-development-restart-crown-realty-bruce-gray/2711534002/

Daily Rate Update for February 1, 2019

Friday – February 1, 2019

The Bureau of Labor Statistics reported that 304,000 jobs were created in January as the labor market continues to remain on very solid ground. However, there was a large 70,000 downward revision for November and December. But even with that, the three-month job creation average is at a strong 240,000.

The Unemployment Rate ticked up to 4% from 3.9% while the Labor Force Participation Rate rose to 63.2%, the highest since August 2013. Average hourly earnings rose 0.1% from December and up a solid 3.2% year-over-year, which matches the annual December reading. Total unemployed, or the U6 number, rose to 8.1% from 7.6%. Overall, this is another solid report.

Manufacturing activity across the U.S. remained strong in January while the U.S. economy grew for the 117th consecutive month. The ISM Manufacturing Index came in at 56.6 in January, above the 53.6 expected. The report read that continued expanding business strength was supported by strong demand and output.

Courtesy of Mortgage Market Guide