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.
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...
Rin Tin Tin, Part 3.
The World War II Years. Between the wars, Lee Duncan continued to train the offspring of Rin Tin Tin. At the onset of World War II Lee was working with Rin Tin Tin III. Although no movie roles were forthcoming, Lee and Rin Tin Tin III did their part to support the war...
Home Inspection Exclusions.
At SimplySOLD, we strongly recommend that buyers obtain a home inspection. But under Arizona law, inspectors are not required to report on the presence of: 1. termites, rodents, snakes or insects (a separate wood infestation inspection is required for termites); 2.any...
The Latest Housing Trends.
Prior to the pandemic, house hunters were focused on amenities. Since COVID-19, house hunters are now showing more interest in more space and its configuration. Research by the National Association of Realtors shows that the top feature desired by buyers is a home...
Scottsdale No.1 for Millennials Working Remotely.
In Phoenix Best U.S. City for Remote Workers, I reported that metro Phoenix was rated the best overall in the U.S. for working at home. WhistleOut has also analyzed working at home, and has rated Scottsdale a millennial remote worker’s paradise. Scottsdale had a score...
Appraisal Concepts, Part 4.
The Income Approach. This method analyzes a property’s income producing capability and then capitalizes the future income to indicate present value. If there are leases on the property, actual rents will be scrutinized. Comparable property rentals will also be...