Finances | Solari Group Blog

Friday, April 12, 2019   /   by Nicole Solari

Federal and California Withholding- What You Need To Know

Federal and California Withholding- What You Need To Know
 
When a person sells real property in CA, the buyer of that property is generally obligated to deduct and withhold 10 percent of the sales price and transmit it to the Internal Revenue Service (IRS) under the Foreign Investment In Real Property Tax Act (FIRPTA) and 3 1/3 percent of the sales price to the Franchise Tax Board (FTB) under CA Revenue and Taxation Code section 18662 and 18668, unless an exemption applies.

Federal Withholding and Nonforeign Affidavit
There are 3 major exemptions to FIRPTA:

Seller furnishes buyer a “nonforeign status affidavit” containing the seller’s tax identification number or social security number (CAR form AS or equivalent);
The property sales price is no more than $300,000, and the buyer or a member of buyer’s family intends to use the property as a personal residence for at least 50% of the time during the first two years; or
IRS issues a withholding cer ...

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  real estate, home ownership, homebuyers, buying, selling, finances, first time home buyer, taxes, level up realty, real estate market

Wednesday, April 03, 2019   /   by Hayley Baker

Homebuyers Shouldn’t Worry About 2008 All Over Again

Homebuyers Shouldn’t Worry About 2008 All Over Again




Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing market.
Two major takeaways from the survey:

42% believe a recession will occur this year or next (another 16% said 2021)
59% believe the housing market would fare the same or worse than it did in 2008

Why all the talk about a recession recently?
Over the last year, four separate surveys have been taken asking when we can expect the next recession to occur:

The Pulsenomics Survey of Market Analysts
The Wall Street Journal Survey of Economists
The Duke University Survey of American CFOs
The National Association of Business Economics

70% of all respondents to the four surveys believe that a recession will occur in 2019 or 2020 with an additional 18% saying 2021. ...

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  real estate, home ownership, homebuyers, homes for sale, buying, selling, finances, first time home buyer, loan, home price, solari team, solari group, market update

Wednesday, March 13, 2019   /   by Hayley Baker

7 Things To Avoid After Applying For A Mortgage!

7 Things To Avoid After Applying For A Mortgage!




Congratulations! You’ve found a home to buy and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan.
Below is a list of 7 Things You Shouldn’t Do After Applying for a Mortgage! Some may seem obvious, but some may not!
1. Don’t change jobs or the way you are paid at your job! Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well.
2. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Before you deposit any amount of cash ...

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  real estate, home ownership, homebuyers, homes for sale, buying, finances, first time home buyer, solari team, solari group, solano county, napa valley, escrow, for sale, mortgage, selling tips, home buyer tips, home seller, level up realty, home buyer, home sales, first time home buyers

Wednesday, February 20, 2019   /   by Nicole Solari

All Generations Believe Renting Is More Affordable Than Owning—Even Though It’s Not True

All Generations Believe Renting Is More Affordable Than Owning—Even Though It’s Not True

According to new research from lender Freddie Mac, every generation—from millennials to Gen Xers to Baby Boomers—are continuing to rent because they think it’s saving them money. According to the report, 76% of Millennials, 75% of Gen Xers, and 81% of Baby Boomers said renting was the more affordable option.
But with rents rising across the country, that’s just no longer the case. According to the most recent Market Outlook Report from Realtor.com, rents rose year over year in nearly ¾ (73%) of counties across the United States. And according to Trulia, it is now more affordable to own a home than to rent in a whopping 98% of the largest metro markets in the US.











The Takeaway

The misconception that renting is more affordable than homeownership is not only costing renters of every generation money, it&r ...

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  real estate, home ownership, homes for sale, buying, finances, first time home buyer, investment properties, real estate team, solari team, solari group, for sale, the solari group, market trends, level up realty, home sales, rent

Wednesday, November 28, 2018   /   by Nicole Solari

7 Reasons to List Your House for Sale This Holiday Season!

Every year at this time there are many homeowners who decide to wait until after the holidays to list their homes for the first time, while others who already have their homes on the market decide to take them off until after the holidays.


Here are seven great reasons not to wait:





Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their new employees in their new positions as soon as possible.






Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.






You can restrict the showings on your home to the times you want it shown. You will remain in control.






Homes show better when decorated for the holidays.






There is minimal competition for you as a seller right now. Inventory of homes for sale traditionally slows in the late fall, early winter. Let’s take a look at listing inventory as compared to the s ...

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  real estate, home ownership, real estate agent, realtor, finances, solano county, for sale, holiday, holiday season, home buyers, home selling, new construction

The Solari Group
Nicole Solari
DRE# 02014153

Solano Location
4820 Business Center Drive, Ste 140
Fairfield, CA 94534
707-486-5400

Napa Location
1700 2nd Street Suite 222
Napa, CA 94559
707-819-9119

IDX Content is provided via the Internet for consumers’ personal, non-commercial use. Variable Price’ indicates the seller is willing to entertain offers within a Listing Price Range. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. IDX provided by Commissions Inc. Data last updated:April 19, 2019
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