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.
Buy a Home in Tucson or Rocky Point.
For the first time, we now have access to homes listed for sale in Tucson and Puerto Penasco (Rocky Point), Mexico. This means that SimplySOLD can now offer his expanded and elevated level of service to our local, Canadian and international clients, and can find your...
U.S. Real Estate Deals Just Got Better.
Once again the value of the Canadian dollar has skyrocketed. On February 28 it rose to almost 1.03 dollars U.S. This means Canadians will get more for their money when buying real estate in the U.S. The Canadian Press reported that the closing value of 102.94 Canadian...
Get Paid to Recycle your Fridge/Freezer.
Old refrigerators and freezers waste energy and money. If you replace an old unit, you will lower your electric bill. In addition, your utility company will pick up and haul away the unit for you, and they will pay you to do so. Both the Salt River Project (“SRP”) and...
Waiver of the Anti-flipping Rule Benefits Investors.
There is good news from the Federal Housing Administration (“FHA”) for real estate investors. Late last month Commissioner David H. Stevens extended FHA's temporary waiver of the agency's “anti-flipping rule.” Flipping is the practice of selling a home in a relatively...
Borrow Now and Save!
Mortgage rates in 2010 were the lowest in six decades. Will they stay low, or will they rise, making the purchase of a home more expensive in 2011? In November of 2010, the 4.17% interest rate was the lowest since Freddie Mac began tracking rates in 1971, and the...
New Tax Requirements for Landlords.
Do you rent out real estate in Arizona? Are you a landlord with tenants in a former or second home in the Phoenix metropolitan area? If so, the government has imposed a new, controversial and burdensome tax requirement that will increase your record keeping duties...
How to do a Short Sale.
Are you thinking you need a short sale? If you are selling a home in Arizona, chances are good you are, as about a quarter of our sales are being done that way. A short sale is necessary when sale of the property will not generate enough proceeds to pay off the loan....
Is a Reverse Mortgage Right for You?
A reverse mortgage usually pays a lump sum and is not used to acquire a property. Because these characteristics differ from the type of loan used to buy a home that we are all used to, it has been given the “reverse” moniker. Typically a reverse mortgage borrower uses...
By the Numbers – Your Real Estate Update
First, the good news. Rates on 30 year mortgages matched the lowest level in decades by falling to 4.32%. According to Freddie Mac, this is the lowest rate since 1971. The rate on 15-year fixed loans fell to 3.75%, the lowest since records began in 1991. The 15-year...