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Loan | Solari Group Blog

Monday, May 7, 2018   /   by Nicole Solari

WHAT IF I WAIT UNTIL NEXT YEAR TO BUY A HOME?

 







We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained historically low which has allowed many buyers to enter the market.


As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.


The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months.


What Does This Mean as a Buyer?


If home prices appreciate by 5.2% over the next twelve months as ...

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  real estate, home ownership, homebuyers, real estate agent, homes for sale, buying, realtor, selling, finances, first time home buyer, moving, upgrades, open house, decor, investing, loan

Friday, May 4, 2018   /   by Nicole Solari

THIS JUST IN: DATA SAYS MAY IS THE BEST MONTH TO SELL YOUR HOME

According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.


For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:





ATTOM even went a step further and broke their results down by day.



Top 5 Days to Sell:







June 28th – 9.1% above market






February 15th – 9.0% above market






May 31st – 8.3% above market






May 29th – 8.2% above market






June 21st – 8.1% above market





It should come as no surprise that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two mon ...

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  real estate, home ownership, homebuyers, real estate agent, homes for sale, buying, realtor, selling, finances, first time home buyer, moving, upgrades, open house, decor, investing, loan, repairs, decoration, investment properties

Tuesday, May 1, 2018   /   by Nicole Solari

EXISTING HOME SALES GROW DESPITE LOW INVENTORY

Some Highlights:





According to the latest Existing Home Sales Report from the National Association of Realtors, sales grew 1.1% in March to an annual pace of 5.60 million.






This is the strongest pace since November of 2017.






Inventory levels dropped year-over-year for the 34th consecutive month and are now 7.2% lower than March 2017 levels, representing a 3.6-month supply.

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  real estate, home ownership, homebuyers, real estate agent, homes for sale, buying, realtor, selling, finances, first time home buyer, moving, upgrades, open house, decor, investing, loan, repairs, decoration, investment properties, invest, real estate team

Thursday, April 26, 2018   /   by Nicole Solari

“Short Of A War Or Stock Market Crash…”

This month, Arch Mortgage Insurance released their spring Housing and Mortgage Market Review. The report explained that an increase in mortgage rates and/or home prices would impact monthly payments this way:





A 5% increase in home prices increases payments by roughly 5%






A 1% rise in interest rates increases payments by roughly 13% or 14%





That begs the question…


What if both rates and prices increase as predicted?


The report revealed:




“If interest rates and home prices rise by year-end in the ballpark of what most analysts are forecasting, monthly mortgage payments on a new home purchase could increase another 10–15%. That would make 2018 one of the worst full-year deteriorations in affordability for the past 25 years.”



The percent increase in mortgage payments would negatively impact affordability. But, how would affordability then compare to historic norm ...

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  real estate, home ownership, homebuyers, real estate agent, homes for sale, buying, realtor, selling, first time home buyer, moving, upgrades, open house, loan, home price, home inspection, solari team, renovation, property taxes, escrow, for sale

Tuesday, April 24, 2018   /   by Nicole Solari

Thinking Of Selling Your Home? Here's Why You Need A Pro In Your Corner!

Thinking Of Selling Your Home? Why You Need A Pro In Your Corner











With home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional.


Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.


Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO:





The buyer who wants the best deal possible






The buyer’s agent who solely represents the best interest of the buyer






The buyer’s attorney (in some parts of the country)






The home inspection companies, which work for the buyer and will almost always find some problems with the house ...

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  real estate, home ownership, homebuyers, real estate agent, homes for sale, buying, realtor, selling, finances, first time home buyer, upgrades, open house, decor, investing, loan, repairs, decoration, investment properties, real estate team, home inspection, solari team

The Solari Group
Nicole Solari
4820 Business Center Drive, Ste 140
Fairfield, CA 94534
707-486-9057
DRE# 02045526
Solano Location
4820 Business Center Drive, Ste 140
Fairfield, CA 94534
707-759-7679

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:February 15, 2019
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