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Old 04-15-2023, 07:18 AM
 
33 posts, read 31,365 times
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Do San Jose home still increase in worth? I was informed that homes sell for far more than their appraised value, regardless of what it is. If a house appraises for a lot less money and then sells for $1.8 million, how would people be able to obtain loans from the bank?
Please, guys, storm some ideas.
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Old 04-16-2023, 02:26 PM
 
33 posts, read 31,365 times
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Err, guys, please, any help is welcome!
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Old 04-20-2023, 05:16 PM
 
Location: A bit further north than before
1,651 posts, read 3,696,422 times
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If you have a specific question about the area, please ask away.
But we're not Google, you have to do your own basic research first...
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Old 04-20-2023, 05:21 PM
 
Location: South Bay
7,226 posts, read 22,187,529 times
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I bought a home last year with much lower interest rates than are currently available. My home did not appraise at purchase price so I was out of pocket for the difference. My home has also declined in value ~10% according the likes of Zillow. I'm playing the long game here, so I'm not overly concerned, but it is sometimes tough knowing that the extra money I had to put down has essentially vanished into thin air ¯\_(ツ)_/¯.
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Old 04-20-2023, 06:08 PM
 
Location: Sandy Eggo's North County
10,292 posts, read 6,813,150 times
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Generally speaking, people that buy properties in the "$1.8" realm, don't have loans...
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Old 04-20-2023, 06:58 PM
 
Location: East Bay, San Francisco Bay Area
23,511 posts, read 23,986,796 times
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At least some of these properties were purchased in all cash deals, using the proceeds of appreciated stocks/equities from the exercise of granted stock options. There are a lot of technology companies in San Jose, and Santa Clara County, from start-up through Fortune 500 and companies in between.
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Old 04-21-2023, 04:20 PM
 
Location: South Bay
7,226 posts, read 22,187,529 times
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Quote:
Originally Posted by NORTY FLATZ View Post
Generally speaking, people that buy properties in the "$1.8" realm, don't have loans...
Nearly everyone I know in my neighborhood has a mortgage on a house bought for well over $1M. I'm sure the down payment for most of these homes was paid for with cashed out RSUs from their employer (as was the case for me). Seems like OP is not familiar with the payment structure for the typical tech worker here in Silicon Valley nor the typical incomes for these workers.
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Old 04-23-2023, 04:24 AM
 
33 posts, read 31,365 times
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Quote:
Originally Posted by gone down south View Post
If you have a specific question about the area, please ask away.
But we're not Google, you have to do your own basic research first...
Yeag, I got it already) I'm working on this.
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Old 04-23-2023, 04:26 AM
 
33 posts, read 31,365 times
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Quote:
Originally Posted by BRinSM View Post
I bought a home last year with much lower interest rates than are currently available. My home did not appraise at purchase price so I was out of pocket for the difference. My home has also declined in value ~10% according the likes of Zillow. I'm playing the long game here, so I'm not overly concerned, but it is sometimes tough knowing that the extra money I had to put down has essentially vanished into thin air ¯\_(ツ)_/¯.
Yeah, real estate values can fluctuate, and it's important to keep a long-term perspective.
However, maybe exploring options like refinancing or improving your home's value would be strategies or plans to potentially recoup that lost equity in the future?
Just a thought*
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Old 04-23-2023, 04:29 AM
 
33 posts, read 31,365 times
Reputation: 15
Quote:
Originally Posted by ccm123 View Post
At least some of these properties were purchased in all cash deals, using the proceeds of appreciated stocks/equities from the exercise of granted stock options. There are a lot of technology companies in San Jose, and Santa Clara County, from start-up through Fortune 500 and companies in between.
I know it's not uncommon for folks around here to buy properties with cash from selling stocks and equities they've earned from exercising stock options, anyway - I see it advantageous enough.
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