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.
Liability from Older Home Renovations.
If you buy and fix up older homes to sell or hold as a rental, it just got a lot more difficult and expensive. New federal regulations effective in April of this year (the "New Lead Rules"), now require professional remediation techniques when even a relatively small...
Home Prices in the Valley of the Sun
The numbers are in, and everybody wants to know - what is the latest on metropolitan Phoenix area real estate? Before I give you that, I have to tell you about my vacation. Like many Arizonans, I went to San Diego last month. But unlike normal people who spend their...
Remodeling Always Pays Off.
When homes decrease in value, people stay put. Many are unable to move due to a lack of equity or can’t afford the sale and moving costs. But if homeowners need a change, will they recoup any of their costs if they remodel? Remodeling Magazine's Cost vs. Value Report...
Canada’s Real Estate is Up, Up, Up!
In the midst of more news about the continuing struggles of the U.S. home market, the news from Ottawa last week is that Canadian home prices rose 1.3 per cent in May, their largest monthly gain since last September. On an annual basis, prices rose 13.6 per cent and...
Canadians Buy the Most U.S. Real Estate
Once again the latest numbers show that Canadians bought more U.S. properties than the citizens of any other country in the U.S. last year - almost one-quarter of the real estate purchased by citizens of other countries in the United States. A few blogs ago I...
Canadian Currency Update #2
Last year I wrote about the increasing strength of the Canadian dollar relative to U.S. currency, and the result of a favorable currency exchange rate to Canadian investment here. I also discussed the positive impact the exchange rate makes to my fellow Canadians when...
Are we in for a Hockey Stick Recovery?
Everybody who knows me know how much I love hockey. I’m a Canadian so it is a genetic issue, I still play twice a week, and I watch every game I can on the NHL Center Ice channels. But I never thought you could analogize my favorite sport to real estate. But according...
Can you get a Loan after a Foreclosure or Short Sale?
Short sales are a fact of life in Arizona residential real estate. A short sale is defined as the sale of a property, resulting in a payoff of less than the total amount owed, in lieu of a foreclosure or to permit a sale. If you are the next metro Phoenix homeowner to...
Removal of Mortgage Insurance Premiums, Part 2.
In my last blog I wrote about the slim possibility of getting a refund of “private mortgage insurance”. Mortgage insurance is required by lenders when a down payment is less than 20%. Usually those payments are non-refundable unless the lender agrees otherwise at the...