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!
They’re Moving to Arizona.
According to North American Moving Services, Arizona continued to be a top destination to move to in 2022. Arizona had a 57% net inflow of movers, one of the highest in the nation. What states were the top losers? Illinois was number one with a 65% net outflow of...
2023 Housing Trends, Part 1.
1. First-time Buyers are Scarce. The first-time buyer share of the market dropped to 26% over the past year. Historically, first-time buyers buy around 40% of homes. The reason was the high prices and the rise in interest rates. Hopefully the price correction...
Did You Get a Concession?
The share of home sellers offering concessions to buyers jumped in the final three months of 2022. Concessions are being offered as an incentive to attract buyers and in an attempt to prevent listing price cuts. Approximately 42% of homes sold in the fourth quarter...
Get an Interest Rate Buy Down!
Buying down an interest rate is a way for a seller to offer a financial incentive to a buyer. It results in a temporary reduction, which means lower payments under the buyer’s loan. Because of the dramatic increase in rates and the negative result on home sales, in...
Phoenix Number 1 for Buyers.
The Phoenix metro area was the nation's top buyers' market as of October 2022. That is according to the Knock Buyer-Seller Market Index, which analyzes whether the nation's 100 largest markets favor home buyers or sellers. In Phoenix, a typical listing took 34 days to...
Which is the Most Pet Friendly City?
Wallethub created a methodology to determine which metropolitan area is the most pet friendly. The considerations were the cost of pet health care, including insurance; overall health and wellness, such as the number of veterinarians and trainers available,...