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.
Get an Interest Rate Buy Down!
Buying down an interest rate is a way for a seller to offer a financial incentive to a buyer. It results in a temporary reduction, which means lower payments under the buyer’s loan. Because of the dramatic increase in rates and the negative result on home sales, in...
Phoenix Number 1 for Buyers.
The Phoenix metro area was the nation's top buyers' market as of October 2022. That is according to the Knock Buyer-Seller Market Index, which analyzes whether the nation's 100 largest markets favor home buyers or sellers. In Phoenix, a typical listing took 34 days to...
Which is the Most Pet Friendly City?
Wallethub created a methodology to determine which metropolitan area is the most pet friendly. The considerations were the cost of pet health care, including insurance; overall health and wellness, such as the number of veterinarians and trainers available,...
Consumer Housing Confidence Wanes.
Four of five consumers describe buying conditions for homes as bad, a record in data going back to 1978, according to the University of Michigan's consumer sentiment survey for November. The erosion in perceived buying conditions is at the highest level in 40 years....
Sellers are Profiting from Equity.
While the environment has turned quickly away from a seller's market to an impending buyer's market, it's not that bad for Phoenix area home sellers. Most are still walking away with a profit, even when based on a short ownership timeline. Appreciation rates for...
Housing Demand Disparities.
The East and West of the U.S. are two totally different buyer - seller markets. In the West, nine cities were among the top 10 buyers' markets in August. San Francisco-Oakland-Berkeley, California is number 1, Salt Lake City, Utah is number 2, and the Valley of the...
Arizona has a Deficit of 122,683 Homes.
Arizona’s housing deficit has increased 1,377% since 2012 - representing 122,683 homes - according to a report by Washington, D.C.-based Up for Growth. Arizona didn’t have a housing deficit issue in 2012, but explosive growth and below par construction starts have...
Was It Your Dog When it was Over?
In the U.S. during WWII, dogs were donated by the public to the war effort through the Dogs for Defense program. After the war was over, the military returned the lucky dogs who survived the conflict to their homes. England had a similar program and Brutus was a...
Haunted Home Stories for Halloween 2022.
The House of the Seven Gables, or the Turner-Ingersoll Mansion, in Salem, Massachusetts is famous for paranormal activity. Built in 1668, this Colonial-style home is thought to be among the oldest wooden structures in America and is well-preserved for its 300-plus...