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.
Is Your Agent Disloyal? (Part 4)
Is dual agency bad for agents and their brokers, as well as buyers and sellers? In my previous 3 blogs I told you that dual agency occurs when one agent represents both parties (or when two agents of the same brokerage represent the buyer and seller), and how dual...
Is Your Agent Disloyal? (Part 3)
This is the third of a 5 part article on dual agency, a form of real estate agent representation. Dual agency involves “your” agent representing your adversary in a real estate transaction, as well as yourself. I have shown that it is good for the agent, as it results...
Is Your Agent Disloyal? (Part 2)
In Part 1 of this series, I revealed that dual agency results in a real estate broker getting paid double for being disloyal. Dual agency occurs when “the agent acts for both of the principals at the same time in the same transaction.” In other words, it occurs when...
Is Your Agent Disloyal? (Part 1)
How would you like it if you were in a lawsuit, and your attorney at trial, after arguing on your behalf, got up and moved over to the other side’s table, and then started arguing the case against you? You wouldn’t. Would you choose that over representation of you...
Its Time to Borrow!
Freddie Mac reported that mortgage rates set new record lows the first week of September. Rates on 30-year fixed-rate mortgages averaged 4.12%; the lowest since 1971. That's down from 4.22% the week before, and from a 2011 high of 5.05% in February of this year. Rates...
The Newest Phoenix Area Facts and Figures.
The latest market analysis (for May 2011) was released by our local Multiple Listing Service. The good news is that sales are up over last year, with about 9,000 homes sold for three months in a row. This is due to the record affordability of housing in the...
Foreign Ownership in U.S. Skyrockets!
The numbers are in, and non-U.S. citizens continue to pour money into real property purchases. According to the National Association of Realtors®, international purchases of residential property are up by $16 billion over the equivalent period in 2009-2010. This is...
Getting a Loan could get Ugly.
Rumblings from the loan industry are that loans could be much harder to get in the future. Restrictions are being imposed upon government related loans, which are big part of current financing. Nationally, Fannie Mae, Freddie Mac, and the Federal Housing...
Buying Cheaper than Renting.
Late last year, Fletcher Wilcox, a well-respected real estate analyst with Grand Canyon Title, prepared a report entitled “Should you Rent or Buy a Single Family Home.” It analyzed whether it was cheaper to pay rent or pay a mortgage on a single family home. Based on...