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 Moving to Phoenix, Part 1.
More than a third of people searching Redfin.com for Phoenix homes last quarter were from out-of-town. In the Redfin Migration Report, Phoenix was named as the top destination in the country, particularly among people from Los Angeles and other expensive and high-tax...
Property Investment Basics, Part 4.
Tax Impacts. Real estate as an investment class benefits from certain tax characteristics, primarily from the fact that real estate can be depreciated. Depreciation provides a tax shield for income at ordinary income rates, and then when the real estate is sold, the...
Rehab Lead Removal Requirements, Part 1.
If you buy and fix up older homes to sell or hold as a rental, you may be subject to lead disclosure and remediation requirements. Many people are familiar with the lead paint disclosures, which are required upon sale or rental where the property was built before...
The Seasonal Market.
Peak times for home contracts to be signed are the spring in the Phoenix metro area. In some cities there is another up tick in the late fall, but any sales increase after the summer is minor here. Low points for closed sales typically are in January and February - a...
Don’t Overpay for Title Insurance: Part 3, Identity Rates.
When buying or selling a home, some escrow/title companies offer discounts to certain people. Those who qualify are usually first-time home buyers, senior citizens, non-profit/charitable organizations, and first responders (police officer, firefighter, emergency...
Don’t Make These Seller Mistakes.
Being Unrealistic about Value.Sellers overprice their homes 8% on average, This is due to the "endowment effect" - placing a value on things you own that is too high for the marketplace. See my blog Don't be a Victim of the Endowment Effect,...
Property Investment Basics, Part 3.
Capitalization. When evaluating the worth of an income property based on the value of the income produced, a capitalization rate is applied to the net income. A “Cap” rate is determined by a study of various economic factors, including the returns on other...
Get A Free Down Payment.
There is free money available for certain Arizona home buyers! Millions of dollars are allocated to down-payment assistance to qualifying homebuyers who intend to occupy the home. The AzHFA Home Plus program provides a down payment assistance grant equal to a...
The Dog Who Could Fly.
Antis is the only dog who officially was allowed to fly with his master in World War II. He was found as a just weaned German Shepherd puppy in no-mans land in France in 1940, after his future master crashed landed near the locked home he had been abandoned in. From...