Steve Spiro’s Blog

Orange County has seen a significant increase in home prices, with the median reaching $1 million for the first time. Factors such as bidding wars, investor activity, and rising incomes have contributed to this surge. Despite rising mortgage rates, experts predict prices will remain high due to low inventory and strong demand. Continue to full…

The California Mortgage Relief Program has been successful in preserving homeownership opportunities for vulnerable populations, ensuring they have a chance to build a secure future. Continue to full article

CalHFA allows financing up to 96.5% of the home's purchase price with low down payment and lenient credit requirements. CalHFA assistance programs: – MyHome: Provides up to 3.5% deferred-payment junior loan – School Program: Aids K-12 teachers – ECTP: Assists teachers with down payment

Security deposits: – Limited to one month's rent for most housing providers (AB 12). Accessible units: – Local rent control jurisdictions can require accessible units for disabled tenants (AB 1620).

Orange County Treasurer announces expanded coverage for delinquent property tax assistance under the California Mortgage Relief Program. Qualified homeowners facing financial hardship can receive up to $80,000 in assistance for missed mortgage or property tax payments. Eligibility criteria and application details are available on the program's website. Continue to full article

Late-Fall 2023 Median Home Prices: Median price rises across Southern California by 5.1%. County-wise Median Prices (2024): Orange County leads with $1.1 million, followed by Los Angeles, San Diego, Ventura, Riverside, and San Bernardino.

When buying a home, successful negotiation depends on understanding market value, finances, and inspection results. Tips include researching market value, knowing finances, and using a home inspection. Negotiate for price, repairs, warranties, closing costs, and other terms. Consider walking away if terms are unacceptable. Continue to full article

Tax Relief Eligibility: Property damaged by calamity may qualify for tax relief. Proposition 19 Transfer: Allows tax base transfer for substantially damaged properties.

Breaking news! Interest rates at pre-pandemic levels, mortgage rates at all-time low, announces Fed. It's a dream come true for homebuyers who have been waiting for the perfect time to enter the market! Dream on… Happy April Fool’s Day!

California's new housing laws, SB 567 and AB 12, bring changes for landlords and tenants. SB 567 limits rent hikes to 10% and prevents evictions without legal cause. AB 12 reduces security deposit amounts. Landlords must follow strict guidelines for evictions and property remodeling. Small landlords have exceptions to the new laws. Continue to full…