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.
Mortgage Rates Hit New Low for 2016.
Last week mortgage rates fell to their lowest level since February 2015. 30-year fixed-rate mortgages averaged 3.59%, and 15-year fixed-rate mortgages averaged 2.88%. Buy or refi now to take advantage of these rates!
Chinese Eye U.S. as Safe Haven.
As China's economy slows and its stock market posts sharp declines, Chinese investors are reportedly looking to park more of their money in U.S. real estate. Developers, financial institutions, and high net-worth individuals are seeking safe investments in...
3% Down Loans are Back!
Bank of America announced a loan program through Freddie Mac and Fannie Mae to help low and moderate income borrowers. B of A is backing loans with down payments as little as 3%, as long as borrowers have a credit score of at least 660. The maximum available loan...
Sight Unseen Solicitations are Back!
In the past week I received a form letter and postcard from two different outfits saying they want to buy my home. The good news is that these type of solicitations indicate that values have risen sufficiently to justify entry into our market by “vultures”. Vultures...
Arizona’s Attraction Remains Strong.
The Washington Post reports that Arizona was among the big winners for net migration. The latest figures from the Census Bureau show the state gained about 45,000 residents from other states. Arizona ranked fourth highest in the nation in net migration last year.
Canadians Love the Islands.
Trailing Japanese buyers, in 2014 Canadian buyers became the 2nd largest foreign investors in Hawaiian real estate -- investing some $165 million in Hawaiian properties. It remains to be seen whether the dramatic drop in the value of Canadian currency is likely to...
New Home Sales Rebound.
The metro Phoenix new home market is recovering, with Catherine Reagor reporting that permits in January were up 57% over that same month last year. In addition, in Mesa the master planned community of Eastmark ranked number one for the biggest increase in sales...
Death and Home Building in Ancient Times.
In ancient times a lot of things could get you killed, including building a house. For example, the law created by the Babylonians known as the Code of Hammurabi included some stiff penalties for builders of unsound homes:“If a builder builds a house for someone, and...
Luxury Living at its Finest: Our Latest Listing.
Unique design and modern luxury are combined in this state of the art, approx. 7,000 sq. ft. home on Dromedary in the heart of Arcadia proper. A masterpiece of architecture and design, this one-of-a-kind 6 bedroom, 9 bath house created by renowned builder Arcadia...