Steve Spiro’s Blog

Experts say that the US housing market will avoid a 2008-style crash. The 30-yr fixed-rate mortgage is expected to ↓ an avg of 6.35% in 2023. Home prices are only estimated to ↓ an avg of 4.5% in 2023. However, in 2008, home prices nationally ↓ 33%.

The Global Tiny Homes market is expected to grow significantly between 2022 and 2030 due to the rising adoption of strategies by key players. Tiny homes are full-fledged dwellings on a small scale that have a smaller eco-footprint than conventional homes. In 2021, the market is projected to be worth USD 20470 million and is…

California has added >123K housing units, reaching a 15-yr high. Single-family homes made up 54% of new construction. Also, 44% were multifamily units and 1% were mobile homes. The state’s goal is to build 2.5M homes by 2030, revised from the original goal of 3.5M by 2025.

The demand for second homes has skyrocketed since the start of the pandemic, with Redfin reporting an 88% increase in 2020. People are taking advantage of their ability to work from anywhere and investing in vacation homes, with Branson, Missouri and the Poconos, Pennsylvania being two of the most popular locations. Both of these destinations…

Quito Village in Saratoga, California is a unique housing development, as it is the only known project in the state that was able to break ground under a 2017 state law which had a strict labor standard favoring union workers. This law was meant to speed up the construction of dense housing. Atlanta-based real estate…

Renters insurance is an important coverage for people who live in rental properties, as it can cover property damage or loss and protect from potential liability. According to the Insurance Information Institute, the average cost of renters insurance is around $15 per month, however it can vary depending on location, type of rental property and…

1. Understanding the rent-to-own agreement2. Understanding the home’s purchase price 3. Making sure you’re ready for a mortgage

The limited supply of homes continues to affect affordability, particularly for first-time homebuyers, keeping prices from dropping further. Low housing inventory has been a challenge since the 2008, and it is unlikely to recover in 2023. Analysts are closely watching the economy, including inflation and interest rates, to gauge the market's direction. Borrowers in foreclosure…