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.
Coyotes Player Loses $$$.
Unlike me, agents have no legal training. Yet they are allowed to prepare contracts. An example of what can go wrong when an agent plays attorney occurred to Coyotes defenseman Zbynek Michalek, who lost a $100,000 cash earnest money deposit when he tried to buy a...
Why People Rent, Not Own, Part 2.
According to the Wall Street Journal, when asked what was their primary reason for renting, 49% of those aged 18 to 34 said they were not financially ready to own. Of those 35 and older, 26% cited that same reason. In the younger below 35 group, 15% said they rent...
Why People Rent, Not Own, Part 1.
A study of renters by Fannie Mae revealed the top 3 reasons that they were renting: a. 57% said it allows them to live within their budget; b. 52% said its less stressful; c. And 50% believed its the best decision given the current economic climate. Next: Part 2 of...
The Builder Tear-Down Boom.
Builders tore down and reconstructed about 55,000 homes - or about 7.7% of all single-family housing starts last year, according to estimates by the National Association of Home Builders. As the housing stock continues to age and builders are hard-pressed to find...
Get Paid to be Energy Efficient.
Did you know there are dozens of energy efficiency incentives, rebates and tax credits available to Phoenix area home buyers and owners? Even installation of an ordinary water heater can qualify. And are you aware that various loan programs will pay for you to make...
Foreign Commercial Investment in U.S. Soars.
A flood of foreign investments poured into the U.S. commercial real estate market last year, and that trend shows no sign of slowing in 2016. For example, in 2015 at this same time of the year, foreign investment in U.S. had already exceeded that of all of 2014 - and...
Why Renters Want to Own.
A study by Fannie Mae showed that 90% of renters plan to be homeowners one day, with the top 5 reasons why renters want to buy being: 1. Control over what you do with your living space: 84% of renters said this was their main reason for owning; 2. Having a sense of...
What Has Home Builders the Most Worried.
The cost and availability of labor is the top challenge home builders expect to face this year according to the National Association of Home Builders. The other top 10 significant problems builders say they will face in 2016 are: 1. Cost/availability of labor: 76% 2....
Scottsdale is Luxurious.
#Scottsdale, Arizona had the eighth most #luxuryhome sales (over $1 million) in the U.S. last year.