Posted: 06/06/2018

Looking to buy a home in San Francisco? As you may have heard, it is not uncommon for San Francisco homes to go above asking price. What creates bidding wars is low inventory of available homes in the San Francisco market, which means buyers have fewer home options to choose from. San Francisco is 49 square miles of prime real estate and a prime location for many buyers.  A two-bedroom home in San Francisco recently sold for $1.53 million — 33 percent over asking — thanks to multiple offers. Not an uncommon occurrence.

Home buyers put a lot of effort into looking for a new home. There is a lot to consider. Home buyers will often spend hours exploring neighborhoods, wandering through open houses, imagining how they would remodel the space. When they find the home they want, it’s hard for them not to get their heart set on it. Having to go out all over again and go through the process of researching more neighborhoods, schools and more open houses can be tiresome and even frustrating, which is why so many are willing to enter bidding wars.

Guarantee Mortgage has an answer for that, our pre-approval program called Keys on Time! Bay Area home buyers are in a very competitive market if they’re looking to buy in San Francisco, or surrounding areas. Our Keys on Time program allows for potential buyers to get pre-approved and puts them at the front of the line for the home of their dreams. Keys on Time helps you stand out from other home buyers taking away the guess work for financing approval.

Sellers are typically looking for the strongest offer. Besides pre-approvals, like our Keys on Time, there is one another thing that can give buyers a leg up on the competition and that is a speedy transaction. According to a recent analysis from real estate information company Zillow, Bay Area homes are closing faster on average than anywhere else in the country. Home buyers desperate to win the bidding war are offering short closes and home sellers looking to quickly move on with their lives are snatching up their offers.

Guarantee Mortgage’s Keys on Time program, helps you shop for a home with confidence knowing you have preliminary approved financing. It will help you to beat out other bidders, but also lets the seller know you are in a position to close escrow FAST and on time.

If you are looking to buy a home, contact us. We would be happy to find a loan program that will fit your needs and give you a leg up on the competition. We have a great team waiting to assist you. For 20-plus years, Guarantee Mortgage has been helping thousands of families finance their homes and navigate the intricacies of financing in the Bay Area real estate market. Guarantee Mortgage and our parent company American Pacific Mortgage, fund more than $9 billion in loans each year, and want to help you fund your dream as well.

Contact us today!

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