By Mike Sunnucks | Rose Law Group Reporter Real estate expert Jim Belfiore projects new home sales to be down 45 percent to 50 percent in the second quarter compared to a year ago with COVID-19’s impact on the economy and real estate. Belfiore also expects to see a 30 percent drop in the third quarter new home sales followed …
NAR sued over pocket listings policy; could have ‘significant impact,’ says Cameron Carter, RLG Partner and Transactional Department Director
By Candace Taylor | Wall Street Journal The real-estate industry’s largest trade association, the National Association of Realtors, and two of its affiliates are facing a federal antitrust lawsuit challenging a new rule that effectively bans NAR members from marketing homes privately, or “off-market.” The lawsuit was filed Monday in the U.S. District Court for the Northern District of California …
End of an era: Mesa will annex dairy farms and county land for Hawes Crossing development
(Disclosure: Rose Law Group represents Hawes Crossing.) By Alison Steinbach | The Republic Mesa will annex dairy farms and county land to make way for a planned mixed-use project called Hawes Crossing in the southeast corner of the city. After four years, numerous studies and dozens of plan iterations, the City Council voted Monday to approve Hawes Crossing — but not without significant debate. Council members faced …
Mesa City Council approves Hawes Crossing
(Disclosure: Rose Law Group represents Hawes Crossing.) By Angela Gonzales | Phoenix Business Journal During a virtual hearing Monday night, Mesa City Council approved the 1,200-acre Hawes Crossing development. With 102 speakers in support during the virtual hearing, Council voted 6-1 on what is the largest master-planned community to be approved in the Valley during the past 11 years, said Jordan …
Don’t miss Rose Law Group’s New Economy (Virtual) Power Lunch Season 1 Episode 5
Don’t Miss Rose Law Group’s New Economy (Virtual) Power Lunch…This Friday, Rose Law Group is hosting the fifth episode of the only virtual power lunch in Arizona! Join the conversation as our panel of industry leaders discusses the latest on COVID-19 and its impact on small business and real estate. This week, a group of highly accomplished and vibrant personalities from the …
A high-stakes divorce illustrates how the rich play real-estate tug of war; RLG family attorney Audra Petrolle comments
By Candace Taylor | Wall Street Journal In 2011, Texas financier Wilbur Edwin “Ed” Bosarge and his wife of 22 years, Marie Bosarge, used a trust to buy, for about $45 million, a flat on Belgrave Square in London, an area nicknamed “Billionaire Square.” Mrs. Bosarge said she then set about decorating the home with the help of interior designers. …
IRS Extends Deadlines For 1031, Opportunity Zone Investors; RLG Partner Cameron Carter Comments
By Jarred Schenke | Bisnow Atlanta Investors who have like-kind exchange or opportunity zone deadlines between April 1 and July 15 now have a little more time to close their deals. The IRS issued new guidance Thursday night that granted all taxpayers, including “trusts, estates, corporations and other non-corporate tax filers” a filing extension until July 15. The National Association of Realtors told its members the …
‘A cause larger than your life’ and other hopeful takeaways from COVID-19 and its business impact
By Mike Sunnucks | Rose Law Group Reporter The COVID-19 pandemic is an unrivaled economic challenge, but it is also an opportunity for employers to look at their operations, for entrepreneurs to find silver linings and for all of us to treat each other with more compassion and cooperation. Those were some of the takeaways Rose Law Group’s New Virtual Power Lunch …
What if I can’t pay my mortgage? RLG Transactional Dept. Director Cameron Carter comments
By Catherine Reagor | The Republic Foreclosures recently hit a 15-year low in metro Phoenix but could quickly climb as more homeowners can’t pay their mortgage because they lost income or jobs during the COVID-19 pandemic. Already, a record number of Arizonans have applied for unemployment benefits as businesses have shuttered or scaled back operations to slow the spread of the coronavirus. Help is being …
Rebooting Main Street, the retention and liquidity game and other ways for Arizona (and Pinal County) to survive COVID-19
By Mike Sunnucks | Rose Law Group Reporter The COVID-19 pandemic is putting economic development projects on temporary holds. But that does not mean businesses should not continuing moving forward with permits, government entitlements and the logistics of those projects so they are ready to go when the pandemic subsides and the economy reboots. That was one of the discussion …