Blog
N. 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. He also blogs about animals (mostly dogs in the military) due to his love of pets and military history.
Baby Boomers Are Number One.
Baby boomers comprised the highest share of buyers and sellers nationwide according to the National Association of REALTORS®' 2023 Home Buyers and Sellers Generational Trends Report. Baby boomers—people ages 58 to 76—accounted for 53% of sellers and 39% of buyers...
The Swimming Pig.
In the beginning of the First World War, the German cruiser Dresden set out for the south Atlantic. On board was a pig, probably as a source of fresh meat during what was anticipated to be a long voyage. After the battle of the Falkland Islands in December 1914, HMS...
Global Luxury Buyers Say Yes.
A recent survey of over 1,200 high-net-worth consumers from 12 countries reveals a positive outlook on the U.S. luxury real estate market. 80% of global luxury consumers believe purchasing real estate in the U.S. is a safe investment, and 76% rate the current market...
Will New Homes Get Cheaper?
Lumber prices plunged around 66% last year as the result in decreased demand by home builders and the faltering US housing market. As a result the price of lumber plummeted to less than $400 per 1,000 board feet as of January 2023 from over $1,200 in March 2022....
Phoenix House Flippers Lose.
Phoenix is second in the country in negative returns for home flippers in the first quarter of this year. The average Phoenix flipper lost nearly $10,000 on each flip. Only Austin Texas did worse. Phoenix has also had one of the lowest raw profit margins - overall...
What Will Hurt you when Selling your Home.
According to Opendoor, 54% of purchasers dislike outdated bathrooms. Other top buyer turnoffs are old carpet - 49%; outdated kitchen counter tops and cabinets - 41%; textured (incl. popcorn) ceilings - 32%; and outdated appliances - 30%. With kitchens and bathrooms...
Phoenix No. 1 in New Homes.
The Phoenix metro area leads the nation in new home construction. Through May of 2023, 6,597 new single-family homes were built. With an additional 7,238 new multi-unit residential homes, the total amount of new homes constructed in 2023 is 13,835.
Old Bill – The Navy Terrier.
Old Bill was a wire-haired Terrier that was the mascot of the H.M.S. Falmouth, a British cruiser in the First World War. But he didn’t start his duties on that ship. He was “captured” from a German fishing trawler that the Falmouth sank. When he and the crew of the...
You’re Not Buying a Home in Canada.
If you were thinking of buying a vacation or second home in the Frozen North, you need to put your plans on hold. As of Jan. 1,2023, Canada has enacted a two-year ban on the purchase of residential property by most non-residents. The Prohibition on the Purchase of...