Steve Spiro’s Blog

June saw slow home buying, ranking among the bottom 5% since the 1990s. Sales volume [↑](color-green) 15% in 6-mo, but overall purchases [↓](color-red) 20% in a year. California's expensive home prices are driven by surging mortgage rates.

This new study has found that California is the most expensive state for housing costs, with homeowners spending 28.84% of their income on housing costs. New York and New Jersey follow closely behind. At the other end of the spectrum, West Virginia is the least expensive state for housing costs, with homeowners spending 13.75% of…

Despite earning a salary of $100,000, which is higher than the national median household income, 49% of people still find it difficult to buy a home. The 28/36 rule suggests spending no more than 28% of your income on housing expenses and no more than 36% on total debt payments. This means that on a…

In California, transfer taxes are imposed on the transfer of interests in commercial or residential real property. Equity transfers, such as the purchase of membership interests in an LLC, can result in a "change in ownership" of the entity and trigger transfer taxes.

Atherton 1-yr price change: ↓ 6.7% 5-yr price change: ↑ 22.4% Typical home value: $7.56M

California has the 2nd highest cost per sq-ft of property in the US. The avg house price in California is ~$774K. The avg size of a house in California is 1,820-sq-ft.

Purchasing a home is a complex process that requires careful planning and preparation. It is important to make sure finances are in order and be ready to stay in the same location for several years. The steps involved include finding a reliable real-estate agent, finding a lender with the best rates, getting pre-approved for a…

The US economy has been strong in the first half of 2023, with inflation cooled down to 3% due to Federal Reserve's tightening policies and interest rates remaining low. Industrial real estate has seen some giveback as Amazon reduces its space, resulting in a less intense demand for space compared to 2021 and 2022. This…

The share of million-dollar homes is growing across the nation's largest metros. San Jose, CA Avg home value: : $1.2M San Francisco Avg home value: $1M

California renters experienced a drop in rents for the first time in 24 months. Rents statewide averaged $1,946 in May, ↓ 0.7%yearly. Vacancies in California reached a 2-yr high, with 5.4% of units vacant statewide in May.