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.
There’s More to Preparing a Contract than Filling in the Blanks.
Arizona’s residential purchase contract form is a minimum of 9 pages. There are a multitude of blanks that must be filled in to complete it. Generally there are 3 separate parts to the contract: price, terms and conditions. The gross purchase price occupies just one...
The Basics of 1031 Exchanges – Part One.
A 1031 exchange is a method to defer the payment of capital gains tax on commercial property. It involves a sale procedure where an owner sells a property and reinvests all of the sales proceeds into a new one, using a third party intermediary to complete the...
Solar Panels, Part 2 – Lease Transaction Traps.
Leased solar panels interfere with and sometimes not only prevent sales, but also can scuttle closings. Buyers that sign a contract to buy a home with leased panels will need to qualify to take over the lease. If the solar company decides the buyer doesn’t qualify,...
Don’t Under-Budget your Custom Home.
Its said that over 50% of custom builds never get off the ground. The number one reason is that many people do not prepare a realistic, comprehensive budget. To avoid disappointments, early consultation with an experienced builder is essential. A competent builder is...
International Napping.
If you shop for a home overseas, work habits in many countries may be different from what you are used to. For example, in Spain, the siesta is sacred. People work from early morning until 1:30 p.m., and then in the evening from 5 p.m. on. From 3 p.m. until 4:30 - 5...
Solar Panels, Part 1 – Lease Transaction Traps.
You have solar panels on your home and you decide to move. You assume that the presence of solar panels will be a marketing plus, maybe even get you a higher price. That should be case, but when the panels are leased, it might not. Some buyers will balk when they...
5 Ways to Avoid Mechanics Liens.
When you have work done in Arizona, workers have a right to place liens on your property to protect their right to be paid. With residential property, only contractors with a contract with the owner have lien rights. But in commercial projects, it doesn’t matter if...
Why New Homes Are Expensive.
New-home prices have risen higher than anticipated when comparing those built in 1970 to homes built today with similar characteristics. According to an analysis by economist Tom Lawler, new homes are selling for an average of more than double what they sold for in...
Bisbee, Az Gains National Recognition.
Bisbee is a picturesque old mining town located in the southeast of part of Arizona. It has long been one of Arizona’s hidden secrets, but not anymore. It has been named one of Frommers 18 best places to go in 2018. It also was named Arizona’s prettiest town by Daily...