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.
5 Mortgage Lending Myths.
Myth # 1: You won’t be approved. The requirements to buy a home may not be a tight as you think they are. Some terms have been relaxed. Talk to a reputable loan officer before ruling yourself out. Myth # 2: Talking to a lender can wait. Don’t leave talking to a...
First-time Buyers Fall Again.
The share of first-time buyers declined for the third consecutive year according to an annual survey by the National Association of REALTORS. First-time sales remained at their lowest point in nearly 3 decades, and was the 2nd lowest since inception of the study. The...
Will Luxury Home Prices Continue to Fall?
Home prices in the luxury market (at least $1 million) fell in the 3rd quarter for the first time since 2012. The reason for the decline may be that wealthy buyers fear that prices have climbed too high, too quickly. Also foreign investors could be buying less due to...
Did you Know?
Water (USA) Inc. is a wholly owned subsidiary of Edmonton, Alberta-based EPCOR Utilities Inc. Water (USA) builds, owns and operates water and wastewater treatment facilities in the Southwest, servicing 22 communities and 7 counties in Arizona and New Mexico....
Charting Canadian Home Buyers.
Home buyers from Ontario - my home province - have traditionally been the most active home purchasers of east coast U.S. homes. Ontario is located roughly above New York to Minnesota, so its logical that its residents would be oriented towards Florida and the other...
The Friendliest State For Construction.
Arizona ranks first among U.S. states for business and management friendly policies related to the construction industry. Neighboring New Mexico is dead last, according to the Associated Builders and Contractors. In the last 30 years, the growth of Arizona’s metro...
Loan Options for Global Buyers.
U.S. lenders will loan to international purchasers, but there are significant limitations. For example, the list of “qualified foreign nationals” is usually restricted to Canadians, Aussie's, and other English speaking former U.K. colonies. The good news is that U.S....
3 Reasons to Buy a New Home Now.
Don’t drag your feet when it comes to signing a contract to build or buy a new home. There are some definite advantages to beginning that process before the end of the year, such as: 1. Low interest rates. 30-year fixed-rate mortgages are still around 4%, but most...
The Top 10 Sources for Non-Arizonan Buyers.
Wonder where the people who buy in Arizona come from? With the exception of San Diego, since May 2012 the top 10 buyer sources for those living elsewhere all have cold winters. Which answers the question of why they purchase here - to escape the weather there....