Blog
Latest NewsN. 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. Due to his love of animals and military history, he also frequently writes about dogs, cats and horses that have played a role in military conflicts. Subscribe to his blog now!
Where are the Sellers?
In an earlier blog, Housing Inventories Low, I related how less homes are for sale nationwide. As to the metro Phoenix market, Michael Orr of the Cromford Report explained that “[t]he current situation is remarkable. The lack of supply can only be described as...
Commercial Construction Jobs Rise.
Construction cranes all over the Valley of the Sun are proof of the amount of commercial construction ongoing in the Phoenix metro area. State wide Arizona has added a whopping 23,800 jobs in nonresidential construction in January, 2020. Figures from the U.S. Labor...
How Long do People Stay in their Homes?
Compared to previous years, homeowners are opting to spend more time holding onto their homes, with the median tenure increasing by 3 years since 2008. As of 2018, the median duration of home ownership in the U.S. is 13 years. As should be expected, the...
King of the Foxhole.
In December 1967 U.S. soldiers were attacking a North Vietnamese base camp in Vietnam. As it began to get dark, they dug in anticipating a night counterattack. Lieutenant Morris settled into his foxhole when King, their German Shepard war dog, jumped into the hole on...
Housing Inventories Low.
According to a REALTOR.com study, housing inventories dropped 12% nationally from 2018 to 2019, the largest year over year decline in nearly 3 years. As a result, the U.S. market has a large housing inventory under supply. This is occurring just as 4.8 million...
Which State is the Biggest Loser?
Last blog I wrote about Arizona being a leader in population gain due to our job growth, housing market, and weather. So that raises the question - which state had the most outbound moves in 2019? For the second consecutive year New Jersey lost the most people....