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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!
What is an Incurable Defect?
An unfavorable property characteristic that can’t be fixed, such as a location on a busy street, is known as an incurable defect. This requires the value to be adjusted downward from that of a comparable home to reflect the “defect”. What does this mean to a buyer?...
Don’t Overpay for Title Insurance, Part 2.
Refinancing and Resale Rates. When refinancing your existing mortgage or selling your home, you may be entitled to a title insurance and escrow fee discount. The applicable discount when refinancing is called a "reissue rate." A reissue is an extension of a current...
Obscure Arizona Real Estate Laws.
Did you know that Arizona has a law that limits the amount of land one person may purchase? If buying land from the State, A.R.S. §37-240 states that no person may purchase more than 640 acres of grazing land, or more than 160 acres of agricultural land. Since most...
Property Investment Basics, Part 2.
Present Value. A fundamental concept in real estate investing is that a dollar today is worth more than a dollar in the future. Therefore a "discount rate" is used to determine the present value of an income stream. In computing the present value of a dollar, the...
Five things home buyers hate.
Bad listing photos. Poorly executed (i.e., dark, taken from an awkward angle) and poorly chosen photos (of unattractive areas and things, small rooms). Only the best aspects of a home should be featured. More is not better!Messy homes. No boxes should be on the floor,...
Don’t Overpay for Title Insurance. Part 1, Investor/Builder Rate.
Reduced title insurance premiums and escrow fees are available to certain buyers and sellers, but they are not volunteered. Since title insurance is the biggest escrow/title cost, it’s worth it to find out if a discount applies. One reduced rate that may be available...