Home Prices Go Higher In Silicon Valley
In today’s crazy economy, even extremely wealthy people, like those who have top jobs in the tech industry in Silicon Valley, need help with home financing. Right now many mortgage brokers in the area are offering very sweet deals to tech professionals seeking homes in the area.
As the real estate market in the Silicon Valley area goes up and up, the competition for homes is getting tougher all the time. Right now the median price for a home in
San Francisco is 1.3 million dollars, which is up about 67 percent (!) since back in 2011. Some towns, like Atherton and Hillsborough, have gone absolutely though the roof, with median prices up over 4 and 6 million dollars.
There’s no doubt these are heady times for realty and mortgage brokerage houses. It’s times like these, in areas like these, that call on real expertise from real estate and financial advisors. Intempus Realty is one of the companies here that has made its name by offering the highest quality possible brokerage services, and the highest level of client service.
Right now, many of the top mortgage brokers in Silicon Valley are working overtime to offer potential home buyers special services like specially tailored loans, financial planning services and 24-hour loan approval. All of this is geared to helping workers here obtain homes in an increasingly hard to get into market.
Lack Of Liquid Assets
One of the big issues in the market right now is that some Bay Area workers are well-compensated, but paid in company shares that aren’t really liquid. This is where the expertise of financial planners, like those at Intempus Realty, really comes in. Some financial experts are working with potential buyers to help them get a real sense of what their assets are, and what their future debts may look like. All of this can be helpful in devising a loan strategy for a market that is going ever skyward.
Right now, some potential buyers are sitting out the market, as the down payment on expensive homes is rising up to previously unseen levels. To deal with this, some lenders are structuring zero-down loans for buyers who can qualify.
Ultimately, it’s to be seen whether this market goes upward into another big bubble. The hope is that responsible lenders will help to keep things fair but even keel as prices head skyward.