Millennials could keep the real estate market robust in 2020, Jumbo Loans can assist Bay Area home buyers

The millennial generation continues to shape the real estate market. It wasn’t too long ago millennials were fighting for a spot in the market. Eventually, they became power buyers, and 2020 will be no exception. They are expected to be as active as ever in the months to come, according to data from These young buyers are poised to either buy their first home or upgrade into an exciting new location like the San Francisco Bay Area market, where it’s highly desirable and fiercely competitive. There are a number of reasons why. Millennials will become more active as they hit key life milestones, such as reaching the age of 30. Another key milestone some will reach is an age that coincides with migration into homes with more family-friendly amenities. The market is maturing right alongside millennials, who may fuel a robust, buyer-driven market in 2020. The market may also benefit from an anticipated softening of prices in some of the largest cities in the United States, including San Francisco, and a continuation of low interest rates. One of the tools many Bay Area home seekers need are Jumbo Loan programs. Being a banker and broker, Guarantee Mortgage represents nationwide Jumbo Loan products at great rates and a multitude of qualifying options. These loans are more flexible than some may believe, meeting the qualifications of a wide range of buyers. A Jumbo Loan features various financing options, fixed of course, but also  shorter-term fixed loans at competitive rates that can adjust after their fixed-rate period, and 15, 20, or 30-year terms. Aspiring homebuyers can also take advantage of delayed purchasing financing, or a competitive conforming loan with a piggyback second, which may bridge the gap Read More »

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3 reasons to be optimistic about buying a Bay Area home in the fall

Buying a home in one of the most desirable areas in the nation can be intimidating. While luxury homes in the San Francisco Bay Area typically are in high demand and sell for above listing price, you may find them increasingly within reach. Here are three reasons to be optimistic about entering the Bay Area market this fall and purchasing your ideal home. New listings this fall The Bay Area market differs from others. The start of the home-buying season is one way. In San Francisco, generally speaking, it’s fall that sees the highest number of new listings. Available homes begin to pour in after Labor Day and they tend to sell quickly, just in time for the winter months so folks can get settled before the holidays and onset of the rainy season. Take advantage of the activity by planning your house hunting accordingly. You may be surprised and pleased at what you find on the market! Entering the market around this time of year has its benefits, and if your timing is right, you may get a rare Bay Area discount. Motivated sellers We know you’re motivated to purchase a home, but things can move very smoothly if the sellers feel the same. This time of year, people selling their homes in the colder months may be more ready to make a deal knowing the buying season tends to slow up toward the end of the year. As listing periods reach their maturity, sellers may be open to further negotiating on a price and other factors to avoid withdrawing their listing. Use a Jumbo Loan If these reasons aren’t enough to convince you that there’s no better time to enter the market, here’s Read More »

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5 of the most family friendly, unique parks in San Francisco

The sights and sounds, the history and the things to do. There are so many reasons why raising a family in San Francisco is special. There will be big days, like the first day of school and prom, but there will also be the quieter moments, like a picnic at the park. San Francisco is home to an array of unique and fun green, open spaces. Here’s a list of five family friendly gems.   Mountain Lake Park Perfect for the toddler, the recently renovated Mountain Lake Park features a self-contained area for the smallest of children. Sitting just south of the Presidio, it’s perfect for big kids, too. They can climb stairs, walls and make their way down a slide and repeat the process. The most exciting element may be the great rope climbing area, which rewards its high-climbers with sweeping views of Mountain Lake.   Hilltop Park Children who like to move on wheels will love Hilltop Park, which is known for its impressive 70-foot sundial and skatepark. In addition to the area to roam by skateboard, Hilltop Park’s recent renovations transformed the park’s base with a merry-go-around, rubberized flooring and adventurous playground. Of course, there’s plenty of benches for parents who may need an occasional breather. The park still features its large cement slide, too.   Mission Playground and Pool In the heart of the Mission area, this park has two primary play areas with water and climbing features. It’s the perfect place to cool off (it’s the only outdoor public pool in San Francisco), but there’s more than just splash and climb. Tennis courts, a basketball court and a black-top soccer pitch are also available if children want to partake in Read More »

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After years of growth, Bay Area home prices fall

For the first time in several years, home prices in the San Francisco Bay Area have fallen. This spring, the median price of a home in the Bay Area was $830,000, down 0.1 percent from the same time a year ago, breaking an 83-month streak of consecutive price gains. Leading up to this downshift in prices, the market went through a steady shrinking of price gains over several months. It was just about a year ago in May and June that prices reached the largest ever median sales price of $875,000. The market is also bearing a slowdown in home sales and an increase in inventory, which began about a year ago. Since last March, home sales are down 15 percent. These market realities are providing new opportunities for potential homeowners who had been priced out or turned off by ever-growing prices. In addition, mortgage rates have been on a slow downward trend assisting in home affordability. While conditions are more favorable than they were a year ago, homebuyers still need a strategic approach to home-buying in the Bay Area. That is because this is part of the typical real estate cycle when windows of opportunity for home buyers open up. A pre-approval through our Keys on Time* and SecureLock** programs helps boost a buyer’s standing in the market. The Keys on Time Program is a fully underwritten preliminary pre-approval that hands mortgage seekers the confidence to enter the market because they’ll know how much home they can afford. This program also removes any doubt about the strength of their qualifications for a potential seller. Here are some program highlights: It is fully underwritten. It allows buyers to waive the loan contingency, boosting the appeal Read More »

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Inventory is up across the San Francisco metro area

Buying a home in the Bay Area may be getting slightly easier. The frantic pace of Bay Area home sales have slowed a bit and may mean potential buyers see more homes for sale and potentially enjoy lower prices. That’s the latest word out of desirable areas, including San Jose, where home availability has increased by 43 percent. Elsewhere in the greater San Francisco metro area, inventory is up by 25 percent this year, according to a study by Zillow. It wasn’t too long ago that inventory tightened, and competition soared, leaving would-be buyers in real estate limbo. That’s no longer the case. The sudden shift toward a more buyer-friendly market provides a greater window of opportunity. And while buying a home in the Bay Area is still competitive, it may be more attainable than in recent years with good preparation and a strong mortgage partner. Jumbo Loans remain indispensable for the Bay Area home buyers. The availability of Jumbo Loans with various financing options to meet all buyers’ qualifications have grown substantially. With a Jumbo Loan, buyers also enjoy the flexibility of opting for a fixed rate or an adjustable rate and various options for qualifying. If you haven’t been pre-qualified in a while it’s worth a conversation with your Guarantee Mortgage loan officer to explore the options. The time may be now for individuals and families yearning to buy a home in the Bay Area. Guarantee Mortgage offers MANY options besides Jumbo Loans, including VA Loans which have qualification enhancements for our Veterans! These favorable conditions help buyers, especially with the backing of Guarantee Mortgage’s knowledge of the area and unique financing programs. *The views, articles, postings and other information listed on this Read More »

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