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.
Do You Have Bedbugs?
In Arizona there is a statute pertaining to bedbugs, but only in rental situations. It prohibits landlords from renting when they know bedbugs are present. The law also provides that if a tenant discovers it has bedbugs, it must notify the landlord in writing. If...
Who is Buying in Phoenix?
It may appear that investors are driving the housing market now due to the frenzy in the lower end of the market. But almost 90% of the people who bought homes in the Valley of the Sun in July and August of 2020 were owner occupants or second home buyers. During the...
What Buyers Want.
Over the years research has shown that new or updated kitchens are the most important feature when house hunting. This is also my experience in the metro Phoenix area as Arizonans spend a lot of time in or around the kitchen. Plus new appliances have a lot of impact...
Phoenix is No. 1, Again.
The Valley of the Sun leads the nation in home price growth, with year-over-year price increases of 9% in June, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Phoenix’s 4.3% growth is now more than twice the year-over-year...
The Cat that Captured a Marine.
Edward Burckhardt was one of the Marines that landed on Iwo Jima in February 1945. Iwo Jima was a Japanese held island in the Pacific theater of WWII. Burckhardt found a kitten on the battlefield at the base of Mount Suribachi near the landing beaches. Mount Suribachi...
Worst Improvement Projects.
In Best Remodeling Projects I wrote about the best bang for your buck when selling a home. I also mentioned 2 of the worst - an upscale major kitchen remodel and a master bedroom addition. But there are other home improvements that also have a marginal payoff. One is...
Appraisal Concepts, Part 5.
Reconciliation. What type of valuation method is most appropriate for a commercial property is usually dependent on its use. Thus, all 3 approaches are utilized, but one is will be given the most weight. For example, in commercial contexts most appraisers will rely on...
The Luxury Market is Booming.
Phoenix area housing records are being smashed and the luxury home market is not exempt. Michael Orr of The Cromford Report reported that for home sales over $500,000 “[t]he recovery of the luxury market in July was nothing short of amazing, with an increase of 30%...
They’re Moving to Scottsdale.
HireAHelper examined U.S. moving trends to determine where people were migrating to during the pandemic. They analyzed more than 25,000 moves booked in 2020. Scottsdale, Az. was the top city by net moves, with 68% more people moving in versus moving out. The high cost...