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.
Plant Your Trees Right.
Most city codes require that trees when fully grown do not extend into street or utility right of ways. Although you own that land, a right of way limits your use of that area. Street right of ways are located along the street portion of a property and typically are a...
Do you have Lead Removal Liability?
Part 2. If you renovate a home with lead paint, professional remediation techniques are required if you remove paint on any window, on more than 6 square feet of interior, or on more than 20 square feet of the exterior. The work must be done by a "Certified...
Phoenix Real Estate Rocks!
May 2019 was a record-setting month for home sales in the Phoenix metro area. New all-time records were established for both sales volume and total dollar volume , as well as for the number of homes sold and the most money spent. The monthly median sales price set a...
New Arizona Trade Office in Israel.
The Arizona Commerce Authority has announced the establishment of an Arizona trade office in Israel. The new office will be dedicated to promoting and strengthening business, investment, entrepreneurship, and trade relations between the business communities of Arizona...
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...