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!
Closing Costs – Who Pays and How Much? Part 3.
HOA Related. If there is a homeowners association, the dues - whenever collected (monthly, annually, etc.) will be prorated between buyer and seller. If there is a transfer fee charged by the HOA, it is a negotiable item under the AAR contract, so either party may...
Foreign Buyers Pay More.
Foreign buyers pay nearly twice as much for a U.S. home when compared to the overall U.S. average house price, according to NAR’s 2015 Profile of Home Buying Activity of International Clients. That indicates that a large number of the homes bought by global buyers are...
“Boomerang” Buyers Returning Slowly.
Americans who lost their home to foreclosure are slow to return to home ownership. About 1.9 million of the 3.1 million home owners who were foreclosed on between 2007 and 2013 have passed the 7 year mark, the typical time required to sufficiently improve a credit...
Number of U.S. Purchases Abroad Explodes.
Perhaps because of property value increases here and the strength of the U.S. Dollar, more and more U.S. homeowners are looking to purchase in other countries (sales have increased 233%). The countries that generated the most interest were Canada, Mexico, Costa Rica,...
Mortgage Rates Near New Low.
Mortgage rates continue to hover around all-time lows, with the 30-year fixed-rate averaging around 3.43% this week, making this the ninth consecutive week that mortgage rates have been below 3.5%. Want even a lower rate? 15-year fixed-rate mortgages averaged 2.74%.
Canadians Haven’t all Left.
Canadian buyers accounted for about 6% of the homes purchased in the metro Phoenix area at their peak in April of 2011. Then the Canadian dollar was worth more than ours, and Canadians were purchasing at the bottom of our market. Today, the U.S. dollar buys around...