Blog
Latest NewsN. Mark Kramoltz, JD, GRI, CIPS writes blog articles on the metro Phoenix, Arizona, national and global real estate markets. Written from his perspective as a designated broker and real estate attorney, his articles avoid the inaccuracies and vacuous industry propaganda common to most real estate writings. Due to his love of animals and military history, he also frequently writes about dogs, cats and horses that have played a role in military conflicts. Subscribe to his blog now!
2023 Housing Trends, Part 2.
4. Cash Remains King. All-cash repeat buyers jumped to 27% of the market nationwide during 2022, up from 17% the previous year. In the Phoenix metro area it was 35%, with some zip codes much higher: 85263 - 61%; 85253 - 52%; and 85262 - 51%. It's believed that the...
You’re Richer Than You Think.
Home appreciation in the metro Phoenix area has been robust as I detailed In Sellers are Profiting from Equity. I gave the numbers available at that time, but the latest data shows that the gains set forth in that blog were conservative. Using January 2023 sales to...
Death of the IBuyer?
According to the Information Market, Opendoor lost money on 89% of the homes it sold in the 4th quarter of 2022 in metro Phoenix - an average of $58,000 apiece, before accounting for fees and expenses. For example, a home sold by Opendoor in November for $485,000 that...
Draft Dogs Part 2.
In Draft Dogs, I wrote about the use of dogs to haul loads for the warring parties in the First World War. In that conflict, the French created a special saddle harness coupled with a light connecting bar to a cart for some of their transportation in that war. But...
They’re Moving to Arizona.
According to North American Moving Services, Arizona continued to be a top destination to move to in 2022. Arizona had a 57% net inflow of movers, one of the highest in the nation. What states were the top losers? Illinois was number one with a 65% net outflow of...
2023 Housing Trends, Part 1.
1. First-time Buyers are Scarce. The first-time buyer share of the market dropped to 26% over the past year. Historically, first-time buyers buy around 40% of homes. The reason was the high prices and the rise in interest rates. Hopefully the price correction...