Rent | Solari Group Blog

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

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

Monday, February 04, 2019   /   by Nicole Solari

WHOSE MORTGAGE DO YOU WANT TO PAY? YOURS OR YOUR LANDLORD’S??

WHOSE MORTGAGE DO YOU WANT TO PAY? YOURS OR YOUR LANDLORD’S?




There are some people who haven’t purchased homes because they are uncomfortable taking on the obligation of a mortgage. However, everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.




As Entrepreneur Magazine, a premier source for small business explained in their article, “12 Practical Steps to Getting Rich”:



“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”




“The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market ...

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  real estate, home ownership, homebuyers, real estate agent, homes for sale, buying, solari team, solari group, solano county, napa valley, dream home, home selling, renters

Thursday, November 08, 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

Thursday, July 05, 2018   /   by Nicole Solari

Homes Are More Affordable Today Than They Were in 1985-2000

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.


However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it.


Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from 1985 to 2000 was almost double that number, at 8.92%. When comparing affordability of homeownership over the decades, we must also realize that incomes have increased.


This is why most indexes use the percentage of median income required to make monthly mortgage payments on a typical home as the point of comparison.


Zillow recently released a report comparing home affordability over the decades using this formula. The report revealed that, though homes are less ...

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  real estate, home ownership, homebuyers, real estate agent, homes for sale, buying, realtor, selling, finances, first time home buyer, moving, rent vs. buy

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 16, 2019