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.
Will Foreign Buyers Save Us (Part 2)?
In Part 1 I discussed the participation of non-U.S. citizens in our real estate market. Foreign buyers have traditionally been a significant part of the residential market in select states. Arizona has been one of those favored states, and should be even more...
Will Foreign Buyers Save Us (Part 1)?
Long before our latest market struggles, there has been a history of foreign buyers for U.S. residential and commercial real estate. But figures from the 12-month period ending the first half of last year show that nationally, international investors bought 10 percent...
Should you Buy Down a Mortgage Loan?
Conventional wisdom by mortgage professionals was to never pay points when refinancing or at the closing of a real estate sale. Mortgage “points” are equal to 1% of the loan amount, and are paid at closing in order to lower a mortgage interest rate. Lowering the...
Decoding Your FICO Score.
For years FICO® scores, and how debt management actions influenced them, were unobtainable by consumers. For years, Fair, Isaac & Co., the creator of the system, wouldn’t give any guidance on how these credit scores were affected by adverse events. There are in...
Is the Phoenix Area the Most Popular?
According to RisMedia (the self-proclaimed leader in real estate information systems), the Phoenix area is the nation’s most popular city for home hunters in 2009. The figures come from ZipRealty, a national brokerage firm. Zip Realty produces a Home Hunter Report,...
Gov’t Incentives will Expire Soon, so buy Now!
The government wants you to buy real estate. As a result, two programs are available to significantly reduce your acquisition costs. So in addition to the low prices, there 2 additional reasons to buy in the Phoenix area right now! But these opportunities expire soon,...
Canadian Resources for you, eh?
Are you a Canuck living in the United States? Are you from the U.S. and thinking of going to Canada for the Olympics or for a vacation? Are you a Canadian visiting on an extended basis here (are you a snowbird?) Or do you have dual Canada-United States citizenship...
Lenders Aren’t Moving REOs.
In Are Lenders Holding Back REOs, I wrote about the inability of lenders that had completed foreclosures to timely put those homes back on the market. Under ordinary circumstances, a bank will put a “real estate owned” (or REO) home back on the market as soon as...
New Real Estate Facts and Figures.
Year end facts and figures concerning Arizona real estate: Existing home sales showed a healthy gain in November - sales were the highest for that month since 2004! Experts say that was the result of a rush to close before the then expected end of the month expiration...