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Mortgage | Solari Group Blog

Thursday, November 29, 2018   /   by Nicole Solari

Further Proof it's Not 2008 All Over Again

Home sales numbers are leveling off, the rate of price appreciation has slowed to more historically normal averages, and inventory is finally increasing. We are headed into a more normal housing market.


However, some are seeing these adjustments as red flags and are suggesting that we are headed back to the same challenges we experienced in 2008. Today, let’s look at one set of statistics that prove the current market is nothing like the one that preceded the housing crash last decade.


The previous bubble was partially caused by unhealthy levels of mortgage debt. New purchasers were putting down the minimum down payment, resulting in them having little if any equity in their homes.


Existing homeowners were using their homes as ATMs by refinancing and swapping their equity for cash. When prices started to fall, many homeowners found themselves in a negative equity situation (where their mortgage was higher than the value of their home) so they walked awa ...

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  real estate, home ownership, homebuyers, homes for sale, solari team, solano county, market update, mortgage rates, napa valley, selling tips

Thursday, November 8, 2018   /   by Nicole Solari

75% of Renters Have Been Misinformed

Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a major part of the American Dream – owning a home.


In 2008, the housing market crashed and home values fell by as much as 60% in certain markets. This was the major trigger to the Great Recession we experienced from 2008 to 2010. To come back from that recession, mortgage interest rates were pushed down to levels that were never seen before.


For the last ten years, you could purchase a home at a dramatically discounted price and attain a mortgage at a historically low mortgage rate.


Affordability skyrocketed.


Now that home values have returned to where they should be, and mortgage rates are beginning to increase, it is less affordable to own a home than it was over the last ten ye ...

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  real estate, home ownership, real estate agent, realtor, solari group, market update, mortgage rates, napa valley, solano county, home buyer tips, rent, renters

Tuesday, November 6, 2018   /   by Nicole Solari

Taking the Fear Out of the Mortgage Process

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainties about the buying process. A specific cause for concern tends to be mortgage qualification.


For many, the mortgage process can be scary, but it doesn’t have to be!


In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and good credit history.


Throughout the entire home buying process, you will interact with many different professionals who will all perform necessary roles. These professionals are also valuable resources for you.


Once you’re ready to apply, here are 5 easy steps that Freddie Mac suggests to follow:





Find out your current credit history & score – even if you don’t have perfect credit, you may already qualify for a loan. ...

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  real estate, home ownership, homebuyers, mortgage, market update, mortgage rates, solano county, home buyer tips

Thursday, September 20, 2018   /   by Nicole Solari

Is the Real Estate Market Finally Getting Back to Normal?

The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey:


After the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values appreciating 6.2% annually.


These wild swings in values were caused by abnormal ratios between the available supply of inventory and buyer demand in the market. In a normal market, there would be a 6-month supply of housing inventory.


When the market hit its peak in 2007, homeowners and builders were trying to take advantage of a market that was fueled by an “irrational exuberance.”


Inventory levels grew to 7+ months. With that many homes available for sale, there weren’t enough buyers to satisfy the nu ...

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  real estate, home ownership, homebuyers, real estate agent, open house, investing, investment properties, mortgage rates, market update, solari group

Tuesday, September 11, 2018   /   by Nicole Solari

NAR's Report Shows that it is a Great Time to be a Seller!

We all realize that the best time to sell anything is when the demand for that item is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that right now continues to be a great time to sell your house.
Let’s look at the data covered in the latest Pending Home Sales Report and Existing Home Sales Report.
THE PENDING HOME SALES REPORT
The report announced that pending home sales (homes going into contract) are down 2.3% from last year and have continued to fall on an annual basis for seven straight months.
Lawrence Yun, NAR’s Chief Economist, had this to say:

“The reason sales are falling off last year’s pace is that multiple years of inadequate supply in markets with strong job growth have finally driven up home prices to a point where an increasing number of prospective buyers are unable to afford it.” ...

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  real estate, home ownership, homebuyers, real estate agent, homes for sale, mortgage, the solari group, mortgage rates, market update, napa valley, home buyer, solari group

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 16, 2019
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