Monday, August 17, 2020 / by Nicole Solari
Most people dread moving because of the stress, expense and time commitment. However, resettling in California -- with its beautiful weather and scenery -- is sure to make the idea of moving more exciting. By following the tips below, you can avoid stress, save money and breeze through the process more quickly.
Finding a New Home
Before you can plan any of the logistics of moving, you have to have your next living arrangement squared away. Here’s how to find the perfect home in California.
If you don’t need to move somewhere specific for work, compare a few different cities.
Home prices can be high in some areas, so do some research if you’re on a budget.
Find a real estate agent to aid your search, such as an expert from The Solari Group.
No matter where you decide to move, prepare yourself for California’s high taxes.
Tuesday, January 28, 2020 / by Nicole Solari
Curb appeal really does have a major impact on the return you'll see at resale. Among the top 10 home improvement projects with the highest return on investment (ROI) in Remodeling magazine's newly-released Cost vs. Value Report, nine are outdoor projects.
Related: 4 Resolutions for Home Improvements to Make in 2020
Topping this year's list is Manufactured Stone Veneer, a project that has consistently ranked toward the top of the list since the project was added to the report in 2015.
Unsurprisingly, the report shows an increase in cost for all 22 projects listed; however, there is also a consistent dip across the board in terms of what the perceived value of each of these projects is. This is likely due to a market that was anything but smooth in 2019.
"Why the difference? The most likely answer is consumer jitters," says Clay DeKorne, chief editor of the JLC Group, which includes Remodeling magazine. "While remodeling professionals need to stay on point, they c. ...
Tuesday, November 20, 2018 / by Nicole Solari
Over the past few years, two trends have emerged in the housing market:
Home renovations have shot up
Inventory of homes available for sale on the market has dropped
A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest Existing Home Sales Report from the National Association of Realtors, we are currently at a 4.4-month supply.
This low inventory environment has many current homeowners worried that they would be unable to find a home to buy if they were to list and sell their current houses, which is causing many homeowners to instead renovate their homes in an attempt to fit their needs.
According to Home Advisor, homeowners spent an average of $6,649 on home improvements over the last 12 months. If that number seems high, it also includes homeowners who recently bought fixer-uppers.
A new study from Zillow asked the question,
Thursday, April 26, 2018 / by Nicole Solari
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 norms?
Per the report:
Friday, September 8, 2017 / by Nicole Solari
It’s time to clear a few things that have been lingering around my desk, bits and pieces of market news that together explain some of what’s happening with today’s housing market and how it may change in the near and distant future.
More would-be buyers opting out of homeownership
The most popular theory about why more houses aren’t being sold: There simply aren’t enough properties on the market to go around. But according to a new study from Experian, one of the big three credit repositories, a big chunk of what would ordinarily be potential buyers have opted out of homeownership.
More than a quarter of the 1,000 people queried in a telephone survey in late June — 27 percent — told Experian that they have no interest in owning, not now and not five or 10 years from now. That’s up from 19 percent when pollsters asked the same question a year ago.
Another big reason: Folks want to remain mobile. Nearly tw. ...