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.
Decoding Sale and Loan Docs, Part 3.
Educational docs/docs you may need after closing. Educational documents mainly are directed at the buyer/borrower, and most give information about the mortgage process. These contain info which may be useful and should be read. The loan related papers can generate...
Interest Rates Fall Again.
30 year mortgage rates fell below 4% last week to the lowest amount this year. And the 15 year rate was only 3.19%.
Mexico is Numero Uno.
Of all high-net-worth foreigners owning homes here, Mexicans own the most. 14% of this income group are landholders in the U.S. Next is the Bahamas at 13%, England is third, and France comes in at fourth place. I’m a little suspicious of the Bahamas stat. My guess is...
What Do You Need to Afford a Home?
The monthly amount necessary to acquire/own a home should be no more than around 28-30% of gross income. Include in this payment the monthly anticipated loan principle and interest, homeowners insurance, real estate taxes and association fees. To calculate that amount...
House Warming Customs.
In the U.S., its common for a buyer to receive a gift after they purchase a home. In Germany the tradition is to give a small cup of salt and a loaf of bread to someone who’s moved into a new home. These food staples symbolize lifelong prosperity.
Where are the Highest Natural Disaster Risks?
RealtyTrac's 2016 U.S. Natural Disaster Housing Risk Report rates counties for risks of natural hazards, such as hurricanes, wildfires, tornados, earthquakes, or floods. The 3 states whose counties had the highest risk index (high and very high) were California...
Declutter + Discard When you Sell.
Buyers hate cluttered homes, so clear out space to make a listing look its best. Have a yard sale, sell or auction through Craigslist or eBay or by a consignment shop, give away to family, friends, or through freecycle.org, have it hauled away by 1-800-Got-Junk, or...
Chinese are the Number One Spenders.
Chinese visitors spend more in the U.S. than any other international traveler. The strong Chinese economy and the resulting increase in disposable income is one reason why. The creation of the 10 year visa in 2014 has also been a contributing factor, as it has allowed...
Decoding Sale and Loan Docs, Part 2.
First in the analysis of documents used in residential transactions are junk documents. The documents that fit in this category are non-negotiable or provide minimal or no useful information. Most are directed at borrowers, and are acknowledge that disclosures...