Event Coverage
What Every REALTOR® Needs to Know About Immigration
Immigration and visas are hot topics in Silicon Valley, which has attracted many foreign buyers and investors. Hi-tech companies like Apple, Facebook and Google have also hired workers from other countries with hi-tech skills, many of whom have obtained an H-1 B visa, which enables them to work here for three years and is renewable.
Members learned more about visas and mortgage lending to foreign buyers at the "What Every REALTOR® Needs to Know About Immigration" Lunch and Learn held on September 27 at SILVAR. The program was hosted by SILVAR's Global Business Council in partnership with the California Council of Residential Specialists (CRS) and sponsored by MLSListings Inc.
Mary Jacobs, an associate attorney with Alcorn Immigration Law in Mountain View, explained the different types of visas that allow foreigners to live in the U.S., work and purchase property, including requirements for obtaining a green card, which grants them permission to reside and work in the U.S.
Lisa Wendl, mortgage loan officer with General Mortgage Capital Corp (GMCC) in Cupertino, explained the requirements for purchasing property. She said over 50 percent of her clients are foreigners with visas. Many are employees from Google and Apple. They have to have an Employee Authorization Document (EAD) and a 24-month period working history. Their stock options help qualify them for a loan. Wendl also shared requirements for foreign investors purchasing property in the region.
Myra Jolivet, vice president of Public Affairs at MLSListings Inc., explained the latest updates to Matrix, available now to subscribers. Thank you MLSListings Inc. for sponsoring this event!
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The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
For further information, please email or call the SILVAR office at (408) 200-0100.