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Solano County | Solari Group Real Estate News Blog

Monday, October 11, 2021   /   by Nicole Solari

As Home Equity Rises, So Does Your Wealth

Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity.
Equity is the difference between what you owe on the home and its market value based on factors like price appreciation.
The best thing about equity is that it often grows without you even realizing it, especially in a sellers’ market like we’re in now. In today’s real estate market, the combination of low housing supply and high buyer demand is driving home values up. This is giving homeowners a significant equity boost.
According to the latest data from CoreLogic, the amount of equity homeowners have has continued . ...

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  real estate, the solari group, level up realty, home ownership, first time home buyers, solano county, napa valley, market update

Friday, October 1, 2021   /   by Nicole Solari

Early October is the Sweet Spot for Buyers

Are you looking to buy a home? If so, we’ve got good news for you.
While there’s no denying the housing market is having a great year, many of the headlines are focused on the perks for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing low mortgage rates versus price appreciation as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall.
According to realtor.com, the sweet spot for buyers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years. When applied to the current market, experts determined the ideal week to buy a home this year. The research says:

“Nationally, the best time to buy in 2021 is the week of October 3-9. This week historically has shown the best balance of market cond. ...

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  real estate, level up realty, home ownership, homebuyers, buying, for buyers, first time home buyer, solano county, napa valley, home buyer tips, home buyer

Monday, September 27, 2021   /   by Nicole Solari

If You’re a Buyer, Is Offering Asking Price Enough?

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle.
Things Are Different Today
Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are:

Receiving an average of  3.8 offers
Selling in just 17 days

Homes selling quickly and receiving multiple offers highlights how competitive the housing market is right now. This is due, in large part, to the low supply of homes for sale. Low supply and high demand mean homes often sell for more than the asking price. In some cases, they sell for a lot more. Selma Hepp, Deputy Chief Economist at CoreLogic,&n. ...

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  real estate, level up realty, homebuyers, homes for sale, buying, for buyers, first time home buyer, housing market updates, pricing, first time home buyers, solano county, napa valley, market trends, home buyer tips, home buyer

Friday, September 24, 2021   /   by Nicole Solari

It’s Still a Sellers’ Market

Some Highlights

Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen.
Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. That might be why 73% of people believe it’s a good time to sell.
Sellers, don’t miss out on this unique opportunity. Work with an agent to take advantage of this hot sellers’ market. ...

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  real estate, the solari group, level up realty, home ownership, homes for sale, realtor, selling, for sellers, housing market updates, solano county, napa valley, infographics, market trends, for sale, home seller

Monday, September 20, 2021   /   by Nicole Solari

Is It Time To Move on to a New Home?

If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure.
To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their houses. It says:

“People who move for home-related reasons might need a larger home or a house that better fits their needs, . . . Financial reasons for moving include wanting a nicer home, moving to a newer home to avoid making repairs on the old one, or cashing in on existing equity.”

If you’ve been. ...

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