Property By Agents: kramoltz@hotmail.com

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Measuring Property Globally.

At present, the way real property – such as homes, offices or retail – are measured around the world varies dramatically. The IPMS Coalition, a group of more than 60 organizations from around the world, has created international property measurement standards to ease the confusion. The latest addition is a standard which establishes a common, […]

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Reading a Commitment or Prelim.

You get one after escrow opens when you buy or sell, but what is it? It sets forth the title insurance company’s conditions and requirements to issuance of a policy of title insurance. It’s important because it can reveal adverse matters that can stop your closing. Basically the Commitment /Preliminary Title Report has 3 sections: […]

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Phoenix Adds the Most Jobs.

The Phoenix area added 13,200 construction jobs during the 12-month period that ended in June, an 11% jump. The figures come from Associated General Contractors of America, which analyzed federal data for jobs in construction. Those numbers show that the Phoenix market added more building jobs than any other market in the U.S. during that […]

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Dogs in Space.

Did you know that dogs were first in space? While remembering the anniversary of the U.S. landing on the moon, we should give credit to the dogs that paved the way for manned space flight. The Soviet Union was the first to use dogs in orbital flights to obtain the data necessary to prepare for […]

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The Cost of Selling to iBuyers.

Collateral Analytics analyzed quarterly median purchase prices for single-family homes in Phoenix bought by iBuyers and traditional buyers. The comparison quantifies the costs to sellers of working with iBuyers – such as Offerpad and Opendoor, versus listing with a real estate professional. The study estimates that sellers end up paying between 13% to 15% more […]

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What is a CFD?

A Community Financing District is a method of paying for an improvement (like sewer lines) which benefits a number of properties. The impact on an owner of a home within a district is a periodic payment paid through the property tax collection process. CFD payments can be expensive and last for years. To ascertain whether […]

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Apartment Rent Growing Fastest in Arizona.

Arizona Big Media reports that apartment rent grew 5.8% in the first half of 2019, the fastest in the U.S. Figures from a Rent Café survey show that Arizona’s rent increase easily exceeded the national average of 3.2%. Back in April I tweeted about last year’s increase, which also lead the nation – so the […]

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International Home Buying in the U.S.

The latest Profile of International Activity in U.S. Residential Real Estate has been released by the NAR: https://tinyurl.com/y4xtsec2. The major foreign buyers are from China, Canada, India, the United Kingdom and Mexico, in that order. Arizona continues to be a top five destination for foreign purchasers, and is a preferred destination among Canadian and Mexican […]

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Avoid Lead Removal Liability.

Part 3. The disclosure part of the lead removal rules (see part 1 and 2 for the other guidelines) requires that an EPA booklet entitled “The Lead-Safe Certified Guide to Renovate Right” be supplied. This document must be supplied before the work is done if there is an existing tenant. The booklet must be supplied […]

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Floodplain Insurance Requirement Dropped.

Hundreds of Scottsdale residents in the Grayhawk master-planned community have been removed from the Rawhide Wash 100-year flood plain. This revision to the flood insurance rate maps means pricey flood insurance is no longer mandatory for those home owners with a federally-backed mortgage that are now outside the boundaries of the 100-year flood plain. Those […]

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Ride-Share House Scouts.

Real estate firms are hiring ride-sharing drivers from Uber and Lyft to search for house flip projects. The drivers look for homes that appear to be good candidates for renovation and sale. One company hires drivers to find potential flip houses in 20 states. Drivers get paid either a sales commission or a fee for […]

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A Dog: Man’s Best Physician?

In the ancient world, dogs were thought to have knowledge of medicine. It was noted that dogs elevate an injured leg, just like Hippocrates (the father of medicine) prescribed for injured limbs. And dogs know to lick their wounds to ensure they will remain clean and to speed healing. As a result, dogs were featured […]

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Plant Your Trees Right.

Most city codes require that trees when fully grown do not extend into street or utility right of ways. Although you own that land, a right of way limits your use of that area. Street right of ways are located along the street portion of a property and typically are a minimum of 10 feet. […]

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Do you have Lead Removal Liability?

Part 2. If you renovate a home with lead paint, professional remediation techniques are required if you remove paint on any window, on more than 6 square feet of interior, or on more than 20 square feet of the exterior. The work must be done by a “Certified Renovator”. The contractor will be have to […]

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Phoenix Real Estate Rocks!

May 2019 was a record-setting month for home sales in the Phoenix metro area. New all-time records were established for both sales volume and total dollar volume , as well as for the number of homes sold and the most money spent. The monthly median sales price set a record high reaching $278,000. That means […]

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