Found your dream home but yours is still listed?
By Doug Anderson, Bay Area Real Estate Views
(Tucker Associates Real Estate Services)
In today’s higher end real estate environment there are a lot of good deals out there but things can become a bit complicated when one is trying to sell a one million dollar plus residence while looking to move up. The jumbo mortgage market offerings via Fannie Mae and Freddie Mac are currently capped at 625,000 in most Bay Area cities. While there is a fair amount of true jumbo loans available underwriting is very strict as most of these institutions are keeping these loans “on their books”.Situation: Your house is currently on the market and you have found the perfect home to purchase. You want to make the best deal possible and do not want to have to write a contingent offer.Solution: There are mortgage products available where, as long as your home is listed and you have an addition...