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Finances | Solari Group Real Estate News Blog

Saturday, June 27, 2020   /   by Nicole Solari

5 Benefits of Homeownership (That People Often Forget About)

When you work in real estate, you spend much of your time in the weeds of a transaction, so it’s easy to forget about the true joy that comes from home ownership. At the end of the day, after all the paperwork is signed, after the champagne has been uncorked, real estate is all about real people being able to call someplace their own—a small slice of earth where they can lay their head at night and make a future for themselves and their families.
June is National Homeownership Month, making it the perfect time to remind people of some of the benefits of homeownership that we don’t always shine enough light on.
So, here are some of the true benefits of homeownership that we hear about from many first-time homebuyers:
1. Locked-in monthly expenses
Renting and hopping around from place to place can be exhausting—not only because of the constant upheaval, but also because rents keep rising, especially if you’re in a major metropolitan area. Buying a home f? ...

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  real estate, home ownership, buying, realtor, finances

Thursday, March 5, 2020   /   by Nicole Solari

Real Estate Is Soaring, But Not Like 2008

Unlike last year, the residential real estate market kicked off 2020 with a bang! In their latest Monthly Mortgage Monitor, Black Knight proclaimed:

“The housing market is heating entering 2020 and recent rate declines could continue that trend, a sharp contrast to the strong cooling that was seen at this same time last year.”

Zillow revealed they’re also seeing a robust beginning to the year. Jeff Tucker, Zillow Economist, said:

“Our first look at 2020 data suggests that we could see the most competitive home shopping season in years, as buyers are already competing over…homes for sale.”

Buying demand is very strong. The latest Showing Index from ShowingTime reported a 20.2% year-over-year increase in purchaser traffic across the country, the sixth consecutive month of nationwide growth, and the largest increase in the history of the index.
The even better news is that buyers a ...

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  real estate, home ownership, homebuyers, finances, investing

Friday, February 28, 2020   /   by Nicole Solari

Thinking of Selling? Now May Be the Time?

The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.
The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.
According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is strong. That’s not the case, however, with seller demand, which remains weak throughout most of the nation. Here’s a breakdown by state:Demand for housing is high, but supply is extremely low. NAR also just reported that the actual nu ...

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  real estate, real estate agent, realtor, selling, finances, upgrades

Friday, February 21, 2020   /   by Nicole Solari

Interest Rates Over Time [INFOGRAPHIC]

Some Highlights:

With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time.
According to Freddie Mac, mortgage interest rates are currently hovering near a five-decade low.
The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan. Maybe it’s time to lock in now while rates are still low. ...

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  real estate, homebuyers, real estate agent, realtor, finances, investing, home price, interest

Thursday, February 20, 2020   /   by Nicole Solari

The #1 Misconception in the Homebuying Process

After over a year of moderating home prices, it appears home value appreciation is about to reaccelerate. Skylar Olsen, Director of Economic Research at Zillow, explained in a recent article:
 “A year ago, a combination of a government shutdown, stock market slump and mortgage rate spike caused a long-anticipated inventory rise. That supposed boom turned out to be a short-lived mirage as buyers came back into the market and more than erased the inventory gains. As a natural reaction, the recent slowdown in home values looks like it’s set to reverse back.”
CoreLogic, in their January 2020 Market Pulse Report, agrees with Olsen, projecting home value appreciation in all fifty states this year. Here’s the breakdown:

21 states appreciating 5% or more


26 states appreciating between 3-5%


Only 3 states appreciating less than 3%

The Misconception
Many believe when real estate values are increasing, owning a home becom ...

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  real estate, home ownership, homebuyers, homes for sale, buying, finances, first time home buyer, first time home buyers