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.
They’re Paying over Asking Price.
Nearly 90 Phoenix homes sold for $100,000 over the listing price in first six weeks of 2022. During the same period in 2021 there were only 11 transactions of $100,000 above the asking price. One reason for the increase is that non-primary buyers accounted for 36% of...
The Timid War Dog. Part 2.
There were no fewer than 57 dogs named Duke enlisted in the Marine Corps in World War II. One of them was awarded the Dickin Medal for service in Normandy. But the Dog Record Books in the National Archive show that gun shyness was a real problem, washing out roughly a...
LEED Certification, Part 2.
Getting a building LEED certified begins at the time that design professionals, architects, and engineers are retained for a construction project. Familiarity with LEED will help, such as design professional accredited by the Green Building Certification Institute and...
Reverse Mortgage Update.
With the new year comes a change in reverse mortgage programs. As before, you must live in the home as your primary residence and must complete a financial assessment. But the maximum loan amount has risen from $822,375 to $970,800 as of January 1, 2022. The loan...
Rental Rates Soar!
Home sale prices in the Valley of the Sun are at an all-time high. As of late last year, metro Phoenix has led the nation in annual growth for 30 straight months. And the rental market isn’t far behind. Four Phoenix metro cities are in the top 10 nationally for rent...
Unsinkable Sam.
Sam was a black and white cat that was supposedly owned by a sailor on the German WWII battleship Bismarck. When the Bismark was sunk, it was said he was picked from the water by the British destroyer HMS Cossack. The crew of Cossack named their new mascot "Oscar",...
Liability Letters, Part 2.
The belief that “love letter” violations are a widespread problem has prompted the Oregon legislature to pass a law preventing a buyer’s agents from providing the seller’s agent with one. To ensure a seller won‘t select a buyer based on prohibited criteria under the...
Crime Information Now Unavailable.
The Woke movement has hit real estate. Realtor.com and Redfin are deleting crime data listed on their websites because it could “perpetuate racial inequity.” Realtor.com removed its crime map from all search results to “level the playing field.”. Redfin doesn’t think...
LEED Certification, Part 1.
LEED is a system that rates now green a building is. It is a nationally accepted benchmark for the design, construction, and operation of green buildings. LEED certification rates structures based on water and energy efficiency, sustainability of the site,...