SAN MATEO, Calif., April 10, 2014 — The latest numbers from the Federal Reserve show that the primary residence for most Americans accounts for more than 62% of their personal assets. The recent double digit rise of Bay Area housing prices pushes this percentage even higher, leaving many local homeowners even more highly concentrated in an illiquid asset. Now, Barastone LLC is providing innovative solutions to help homeowners better manage this source of wealth, based on the collective financial service experience of its founders.
Barastone’s team of seasoned professionals are filling the void left by traditional investment, mortgage and real estate professionals. Through years of experience with a variety of clients, Barastone has noted that residents have plenty of services and tools available to help them manage their liquid assets, but when it comes to making their homes work for them, the choices are limited. Barastone is responding to the need for expertise, advice and a new set of tools aimed at helping homeowners gain control of the portion of their portfolios that contain more than half of their net worth - their primary residences.
“The number of homeowners in this area who are equity rich but cash poor is astounding,” said Mark Rogers, president of Barastone. “We are focusing on creating opportunities for our neighbors to improve their solvency and maintain proper balance of their wealth,” he added.
As a public service to homeowners interested in learning more, Barastone is making available a report which outlines the situation, entitled, America’s Favorite Asset.