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.
Don’t be Held Hostage by a Probate.
Probate avoidance is a primary consideration for estate planners and their clients. A revocable trust is usually the vehicle of choice for making non-probate transfers. But real estate must be re-titled in the name of the trust to make a transfer to the trust...
Where have all Canadians Gone?
April of 2018 saw the lowest number of sales of metro Phoenix area homes to Canadian buyers since 2009. Canadian sales peaked in April of 2011, but since then the declining Canadian dollar and our healthy real estate market has taken a toll. As a result, more...
Bing the Parachuting Dog.
An Alsatian and Collie cross, Bing made more than 20 parachute jumps in World War II. He joined the British army in 1944, and his first action was in Normandy on D-Day. It wasn’t all smooth sailing - he had to be 'helped' out of the plane with a piece of meat, and...
How to Assess the Cost of a Fixer-Upper, Part 1.
When you buy a fixer-upper property, follow these tips to avoid getting in a financial fix: 1. Get Inspections. These are key to determine whether a fixer-upper is worth it. A home inspector can uncover hidden issues in need of replacement or repair, such as...
Do You Have an Easement? Part 3.
Exclusivity and Costs. Easements typically grant exclusive use of the easement area to the recipient unless they provide that the easement is nonexclusive. Of course, shared driveways should always be granted on a nonexclusive basis, and so should utility and drainage...
When can you legally use a Handyman?
In Arizona, repairs under $1,000 can be performed by a person without a contractor’s license. But the “handyman exemption” isn’t that simple. An important limitation is that the aggregate contract price, including labor, materials and all other items, is less than...
Preparing For Your Move, Part 5.
Moving Day Tips. Color Code: As well as labeling, assign each room a color and use coordinating colored duct tape on the top and sides of boxes so that they can be identified when stacked. Fill Space: To prevent damage, use socks or rags to fill in ‘dead air' space,...
Don’t be a Victim of the Endowment Effect.
The Endowment Effect is the tendency of sellers to over value the things that they own. When combined with loss aversion instincts, the Endowment Effect can cripple the home sale process. An example of its impact was shown by an experiment where half of a group were...
They Shoot Horses? Operation Cowboy.
In the last days of the WWII, American soldiers captured a German spy with photos of beautiful white horses in his briefcase. They pictured the world famous Lippizzaner “dancing” horses, which were being kept on a farm behind enemy lines, in the future Russian...