Real Estate Market | Solari Group Blog

Thursday, April 25, 2019   /   by Nicole Solari

Sandra Bullock's Beach House on Tybee Island in Georgia

SANDRA BULLOCK’S BEACH HOUSE ON TYBEE ISLAND IN GEORGIA







Sandra Bullock bought this beach house on Tybee Island in Georgia in 2001, but now she’s ready to let it go. She’s selling the oceanfront home fully furnished for $6.5 million.


The listing says, “If you’re looking for your very own private retreat, then look no further than this stunning low country estate. For the serious-minded, this compound, made up of 9 parcels, provides privacy unlike any other on this barrier island. Tucked away on almost 3 acres of fenced, beachfront real estate, you can escape it all in style.”


Take a look!




Sandra Bullock’s Beach House on Tybee Island




The front porch is wide and long and connects to a screened section on each side:

The listing says:

The spacious main house has 3,360 square feet of luxury living including a gourmet kitchen, expansive screened porches, a private home gym, a basketball court, a pool ...

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  real estate, homes for sale, the solari group, level up realty, real estate market, home seller, home buyer, dream home, home selling, celebrity homes

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, March 20, 2019   /   by Hayley Baker

What Credit Score Do You Need To Buy A House?

What Credit Score Do You Need To Buy A House?




There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed!
Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown according to Experian:

16% Very Poor (300-579)
18% Fair (580-669)
21% Good (670-739)
25% Very Good (740-799)
20% Exceptional (800-850)

Randy Hopper, Senior Vice President of Mortgage Lending for Navy Federal Credit Union said,

“Just because you have a low credit score doesn’t mean you can’t purchase a home. There are a lot of options out there for consumers with low FICO® scores,”

There are many programs available with low or no credit score requirement. The Federal Housing Administration (FHA) now requires a mini ...

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  real estate, homebuyers, buying, first time home buyer, solari group, credit score, market update, solano county, napa valley, for sale, market trends, home buyer tips, housing market, real estate market

Tuesday, March 12, 2019   /   by Hayley Baker

What’s Going On With Bidding Wars?

What’s Going On With Bidding Wars?




In a strong seller’s market, like the one we have experienced over the past few years, bidding wars are common and expected. This makes sense! A seller’s market is defined as a market in which the inventory of homes for sale cannot satisfy the number of buyers who want to purchase a home.
According to the Cambridge English Dictionary, bidding wars occur when two or more parties repeatedly outbid each other as they compete to purchase something- in this case, a home.
In some areas of the country, first-time buyers have been met with fierce competition throughout their experience. Some have been out-bid multiple times before finally winning a bid on a home to call their own.
According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), there is currently a 3.7-month supply of homes for sale.
With the current number of houses listed for sale ...

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  real estate, home ownership, homebuyers, real estate agent, buying, first time home buyer, home price, market update, solano county, napa valley, for sale, market trends, the solari group, home buyer tips, real estate market, home buyer

Monday, March 4, 2019   /   by Nicole Solari

Home Values Projected To Increase 6.3% In 2019

Home Values Projected To Increase 6.3% In 2019














Buying a home is an investment. And, like any investment, you want to make sure it’s going to deliver a healthy return.
According to recent projections, it looks like real estate is going to pay off in a major way in 2019.
According to recent data from Zillow, the US Median Home Value is projected to grow a healthy 6.3% in 2019. So, if you were to purchase a home for $250,000 at the beginning of 2019 (in other words, now), that same home is projected to be worth $265,750—an increase of $15,750.

The Takeaway
Real estate is projected to provide some healthy returns in 2019, so if you’ve been thinking about investing in a new home, now is a great time to make a move.

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  real estate, home ownership, homes for sale, buying, investing, investment properties, market update, furniture, housing market, dream home, 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