First Time Home Buyer | Solari Group Blog

Tuesday, June 18, 2019   /   by Nicole Solari

Why Is So Much Paperwork Required To Get A Mortgage?

WHY IS SO MUCH PAPERWORK REQUIRED TO GET A MORTGAGE?









When buying a home today, why is there so much paperwork mandated by the lenders for a mortgage loan application? It seems like they need to know everything about you. Furthermore, it requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.


There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any other time in history.


1. The government has set new guidelines that now demand that the bank proves beyond any doubt that you are indeed capable of paying the mortgage.


During the run-up to the housing crisis, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The gove ...

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  real estate, home ownership, homes for sale, finances, napa valley, solano county, mortgage, first time home buyers

Wednesday, June 05, 2019   /   by Nicole Solari

Multigenerational Homes Are On The Rise

Multigenerational Homes Are On The Rise





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As loved ones start to get older, we start to wonder: how long will they be able to live alone?  Will they need someone there to help them with daily life? There’s a reason to ask those questions now more than ever, as the average life expectancy in the U.S. is 78 years old!  As a result, 41% of Americans in the market are searching for a home that can accommodate a multigenerational family.
The graph below shows the number of people by generation that purchased a multigenerational home because they will either be taking care of an aging parent or they just want to spend time together.
Of those buyers, 26% indicated they will be taking care of an aging parent, and 14% said they want to spend time with an aging parent. These numbers do not come as a surprise. According to Pew Research Center, 64 million Americans (20% of the population) lived in a multigener ...

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  real estate, home ownership, homebuyers, buying, first time home buyer, moving, napa valley, solano county, family homes, multigenerational

Friday, May 24, 2019   /   by Nicole Solari

Everything You Need to Know About Moving to Napa

Everything You Need to Know About Moving to Napa
 
Whether it’s the natural beauty of the valleys, or you just want to be closer to Sandra Bullock, moving to Napa is really a great choice.
 
The City of Napa is simply one of the most stunning places in California, and right at the heat of the Napa Valley wine region. It’s a perfect destination for a permanent relocation or purchasing a vacation home, particularly if you want to embark on hiking trails or live close to lovely parks.
 
But moving anywhere in this county requires quite a bit of preparation, particularly if at the moment you’re miles away from Napa or even California. Luckily for you, we’re presenting everything you need to know about moving to Napa!
 

 
Napa 101
 
A quick Google search for Napa results in countless breathtaking photos, which are enough to make anyone want to move here. However, it is a big life decision, and you should know a few thin ...

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  real estate, home ownership, homebuyers, homes for sale, buying, realtor, first time home buyer, moving, solari team, napa valley, for sale, the solari group

Monday, May 06, 2019   /   by Nicole Solari

The Cost Of Renting Vs. Buying This Spring

THE COST OF RENTING VS. BUYING THIS SPRING [INFOGRAPHIC]







Some Highlights:

Historically, the choice between renting or buying a home has been a tough decision.
Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious.
Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

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  real estate, home ownership, homebuyers, first time home buyer, for sale, the solari group, market trends, home buyer, rent, rent vs. buy, renters

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

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:June 25, 2019