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.
Chinese Buyers and Lucky Numbers
When purchasing homes, Chinese buyers may make decisions with numbers in mind. One number with significance to the Chinese is the number 8, which is believed to be a lucky number associated with prosperity and wealth. Condos or homes with the number 8 in them, and...
Condo Construction Craters
Condo construction nationwide in the 1st quarter comprised only 5.5% of multifamily housing — the lowest ratio since the Commerce Department began tracking this data in 1974. Historically, condo construction averages around 24%. In the metro Phoenix area in 2014, the...
The “MINT” Countries.
The emerging markets of Brazil, Russia, India, China and South Africa were identified some years ago as having economies to watch. They were coined the “BRICS”. The next countries to get that kind of name were Mexico, Indonesia, Nigeria and Turkey, shortened to...
Canadians are #1 in Arizona.
In the 12 months ending March 15, Canadians were once again in first place, purchasing 46% of the homes acquired by global buyers in Arizona, according to the NAR 2015 Profile of Home Buying Activity of International Clients. Arizona was the second most popular state...
What’s in a Preliminary Title Report?
Do you know what to look for in the preliminary title report/commitment? Your agent should, because the report can reveal negative matters that can hurt you. The report shows what matters are on the title of the home, what are excluded from coverage, and what the...
Try Before You Buy.
In an effort designed primarily to better target millennials, Realtor.com® has announced a “live like a local” partnership with home-sharing and vacation-booking site Airbnb.com. The idea is that potential home buyers can experience a specific neighborhood...
Don’t Lose Your Home – Avoid Disaster Magnets.
What are disaster magnets? They are cities with the greatest chance of having their housing destroyed. When looking for a place to invest in a second home, it makes sense to avoid those areas. Risk Management Solutions has ranked cities on a high to low probably of...
Canadians Invest in Arizona.
16% of all Canadian dollars spent buying homes in the U.S. are invested in Arizona. Only Florida, the traditional destination of eastern Canadians, has more. Across the nation, Canadians spent about 20% less on all U.S. properties year-to-year from April...
Watch out for Simplistic Stats.
Facts and figures on the sale prices of homes are often confusing and can even be misleading. One problem is that many of these statistics combine both new and resale prices into one data point. In a marketplace where there is a significant difference between the...