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.
New Homes Are More Affordable.
Historically 25% to 30% of all homes sold Maricopa County during any given year were newly built. As the chart below shows, this trend abruptly changed in 2007, with only 14.6% of all homes sold in Maricopa County in January 2021 being new builds - approximately half...
Buy Now or Pay More.
Home buyers need to move fast if they want to spend less. Delayed purchases will only result in higher monthly mortgage payments as prices (and maybe interest rates) rise. In the metro Phoenix marketplace prices have rose significantly in the last few years making...
The Canine POW, Part 2.
The Unbreakable Bond. After being taken into captivity, Judy bonded with Frank Williams. He taught her the skills she needed to survive in Japanese captivity and in the Indonesian camp. Eventually the prisoners were shipped to Singapore. Frank was told that Judy was...
Metro Phoenix is Breaking Records.
The metro Phoenix housing market broke records in 2020 according to the Cromford Report. Home sales in Pinal and Maricopa County set new records for highest listing success rate, highest average price for monthly sales and annual sales, and highest square foot price...
Preparing For Your Move, Part 7.
Preventing Delivery Blackmail. Be prepared for a demand for extra money by the mover when you reach your destination. Although rare, this problem occurred with enough frequency that Arizona passed a unlawful moving practices statute. The law prevents movers from...
Five Things Agents Won’t Tell You.
Are there things agents will never tell you? Do agents avoid matters you need to know about, and replace them with topics that are designed to get you to hire them? Agents are taught that their primary job is to get the listing. You may not told those things that...
Buying Cheaper Than Renting – Again.
Back in 2011, 2013 , 2015 and most recently in October of 2018, I wrote how buying a home was cheaper than renting. ATTOM Data Solutions’ 2021 Rental Affordability Report shows that trend is continuing. Owning a median-priced 3 bedroom home is more affordable than...
The Canine POW, Part 1.
The Prisoner. Judy, an English pointer, was the mascot of British river gunboat in China when WWII commenced. She and some of her crew was captured by the Japanese in 1942 and taken by ship to a prison camp in Indonesia to build a rail road. She was smuggled on to...
2020 Real Estate Review.
We began 2020 with normal demand while seeing a 31% decline in homes for sale in metro Phoenix. This lack of supply was described by Michael Orr at that time as “shocking”. Although during the first six months of the year demand was uneven due to the Covid outbreak,...