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.
Avoid High Cost States.
Like higher costs, fees and taxes? If not, come to Arizona. Arizona doesn’t impose costs on snowbirds upon sale of a home the way Florida does. Full time Florida resident property tax bills can’t rise more than 3% annually, while snowbird taxes can go up to 10%. Plus...
Off Market Listings are Bad for You.
Zephyr Real Estate conducted a study comparing MLS-marketed and off-market homes and found that single-family homes sold for an average of 17% higher in 2013 when marketed on MLS. This is consistent with other studies that have found that off-market “pocket listings”...
U.S. Named Hottest Global Housing Market.
In a survey of 14 countries, the United States showed the most promise for highest returns for investors according to real estate advisor Savills. Their researchers analyzed factors like population growth, rising wealth, and limited housing supply to determine which...
Closing Costs – Who Pays and How Much? Part 5: Junk Fees.
A junk fee is a cost of doing business that a company tries to shift to you. Most originate from two sources: lenders and escrow companies. Look for them on the loan estimate, closing disclosure and settlement statement. Loan related junk fees may be called...
We’re Number 1.
#Chandler, Arizona is the hottest new city for automobile #innovation says Fortune magazine. Local Motors, Chandler, Arizona.
Five More Home Trends.
In Five Home Trends, I detailed likely buyer housing wants. Here are 5 more: 1. Wellness systems. Healthful features like lighting systems that utilize sunshine (such as clerestory windows and skylights), swimming pools without chlorine, and vegetable gardens. 2....
A Great Month to Buy.
In February, the average home sells for 6.1% less than the rest of the year, according to a recent study by real estate research firm Attom Data. One reason is that there aren’t a lot of buyers looking for homes at this time of year, but there are plenty of sellers...
You Already Have A Down Payment, Part 2.
In part 1, I showed how lack of awareness of low-down-payment mortgage options can discourage potential buyers from trying to purchase a home. Historically only 5% of the purchase price is enough. And one way to get there is a government sponsored down payment...
Pending Sales Drop.
In the Western U.S. in last 2 months of 2016, the National Association of Realtors’ home sales index fell to its lowest level since the start of the year. But in the metro Phoenix area, sales were up 3.4% and inventory decreased 1.6% in December over November. So as...