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Fast Home Financing Now. Saddle Up!

March 23, 2023

Quick Financing Direct ProgramsSaddle Up For Fast Private Money Loans!

Quick Financing by the Fastest Funders in the West! Saddle up and take advantage of the SPEED that Sun Pacific has to offer:

  • Fast Closes: 10 days or less
  • Turned Down Elsewhere – We Can Help
  • Trusted by over 10,000 Borrowers
  • Family Owned & Operated for 35 years

Loan of the Week

Program: Investment Property Refinance
Loan Size: 995k
Location: Monterey County
Days To Close: 9 Days
Reason Came To Us: Borrower came to us as after Underwriting withdrew their loan approval shortly before they were to sign their refinance.  There was some issue with proof of income and the Borrower was mid construction on a house and needed fast financing to complete the project.  We quickly got his loan approved and funded in just 9 days.

If you or someone you know needs fast financing or you’re having difficulty proving income or otherwise turned down, we have the answer.  Our Private Money programs make it easy to get that loan done and make you happy! Give us a call at 707-523-2099 or email us with your scenario to see how we can help.

What’s Happening in the North Bay Real Estate Market?

March 21, 2023

What’s Happening in the North Bay Real Estate Market?

I always find that knowing what’s happening with the real estate market is beneficial towards assisting Homebuyers and Borrowers make better decisions.  Keeping abreast of this information is also helpful when working with licensed peers, to better work together to help clients.

The following report includes both single-family and condominiums in some popular counties:

Marin County:

  • Inventory was 46% (211 homes) below January 2022, but only 4% below December 2022.
  • New sales were 21% (99 homes) below January 2022 and were 29% above December 2022.

Napa County:

  • Inventory was 43% (78 homes) below January 2022 but 3% above December 2022
  • New sales were 9% (43 homes) below January 2022 and were 54% above December 2022

Mendocino County:

  • Inventory was 8% (210 homes) below January 2022 and 13% below December 2022
  • New sales of 36 homes in January 2023 were slightly above the sale of 35 homes in January 2022 and slightly below the December 2022 level of 37 homes.

Lake County:

  • Inventory was 13% above the inventory in January 2022 and 2% below the inventory last month of 357 homes.
  • Closed sales in January were 39% below January 2022 and 32% below December 2022

Solano County:

  • Inventory was at 436.
  • 223 homes sold and closed in January 2023 while historically 500 sales occur per month.

What we can conclude from this report is that while sales and inventory are well below the levels of January 2022, they definitely look better for most counties than December looked.

Real estate experts expect the Spring will bring better reporting numbers with more inventory and more buyers looking for a less competitive market than they experienced during the last couple of years.

I look forward to a busy 2023 in the real estate and lending markets. Hope you do too!

Visit our website at www.sunpacificmortgage.com for more information about what we do and what we offer.

Get Extra Luck – It’s Almost Saint Patrick’s Day

March 16, 2023

image1Be Extra Lucky This Saint Patrick’s Day
* Fast Home Loans With Us*

Bringing you extra luck for a happier Saint Patrick’s Day! Use our private money loan programs for:

  • Fast Fundings & Closings – 10 days or less
  • Loan Approval Despite Being Turned Down Elsewhere

After 35+ years in business, we continue to work hard to get the real estate financing our Borrowers need.

Call us at (707) 523-2099 or visit our website at www.sunpacificmortgage.com with your questions or scenarios – and we’ll let you know just how lucky our Private Money programs can be.

A Look At The Real Estate Market in California

March 14, 2023

california housing marketCalifornia’s housing market continued to improve in January as buyers gained more confidence in purchasing a home and the affordability outlook improved slightly. Monthly sales may have been nominal for the past few months, but the market appears to be heading in the right direction. Home prices are expected to remain soft and less expensive homes will be easier to sell, especially in the San Francisco Bay Area according to the California Association of Realtors’ chief economist.

California home sales inched up in January for the second straight month as prices moderated somewhat. Sales of single-family homes were up 0.4% from December. The median time to sell a home in California was 33 days in January 2023, compared to the 12 days in 2022.

January’s statewide median home price was $751,330, down just 3% from December 2022. Given the huge appreciation homes acquired over the past couple of years, this decline could be viewed as negligible.

All in all, real estate through California remains a strong investment – for personal home buying, 2nd home buying, purchasing rental properties or even investing in Deeds of Trusts.  Anyone needing fast financing or having difficult qualifying for home loans elsewhere, should check out Private Money or Hard Money loans.  These fast and alternative mortgages from Sun Pacific Mortgage have assisted over 10,000 Borrowers over the past 35 years.

Give us a call at 707-523-2099 to see how we might be able to assist you personally or assist a client or visit our website at www.sunpacificmortgage.com.  We are also open for seasoned Private Lenders and individuals interested in investing in Deeds of Trust, earning higher returns.

Fastest Funder In The West – Loan of the Week!

March 9, 2023

Fastest Financing in the West KenCowboy Ken to the Rescue

The quicker the close, the lower the stress. Get Fast Private Money loans for you or someone you know and leave the competition in the dust!

  • Fast Approvals
  • Trusted by over 10,000 Borrowers
  • Credit Problems OK
  • Financing up to 2+ million

Loan of the Week

Program: Owner-Occupied Purchase
Loan Size: $787,000
Location: Sonoma County
Reason Came To Us: Borrower was turned down last minute due to a credit issue popping up, requiring a few more months of handling.  He was in Escrow already, with closing date just 9 days away.  We jumped right onto it and with our FAST Private Money program, had this funded in just 7 days!

At Sun Pacific Mortgage, Broker Cowboy Ken and his team have you covered with our Direct Private Money Programs. Saddle up and give us a call today at 707-523-2099 or visit our website at www.sunpacificmortgage.com with any questions or specific scenarios. We will quickly let you know what help we can provide to you!

A Quick View of 2023 Markets for: San Francisco & the Peninsula Real Estate

March 7, 2023

housing inventoryReceived another informative article from Val Krysov, long-time Real Estate Broker about the Bay Area’s real estate market.  Summarizing his and other recent articles about San Francisco real estate, we can see declines in sales and values have been predicted. However, based on the latest statistics for sales of single-family and condo residences at the start of the year, there’s no obvious signs of deceleration.  Val’s data supports the market still being strong:

San Francisco Single-Family residences:

  • Ave. sales price: $1,848,077
  • Days on market: 46
  • For sale at end of month: 218
  • Sold: 93

Menlo Park Single-Family residences:

  • Ave. sales price: $3,337,900
  • Days on market: 25
  • Sales price=asking price

Belmont Single-Family residences:

  • Ave. sales price: $1,870,000
  • Days on market: 41
  • Sales price=4% above asking

San Carlos Single-Family residences:

  • Ave. sales price: $2,242,000
  • Days on market: 39
  • Sales price=2% above asking

San Mateo Single-Family residences:

  • Ave. sales price: $1,743,769
  • Days on market: 30
  • Sales price=2% above asking

Burlingame Single-Family residences:

  • Ave. sales price: $2,296,875
  • Days on market: 34
  • Sales price= 2% above asking

This report does not bear out some of the more depressing forecasts touted by the predictions. Perhaps, because of the lack of inventory in these cities we are not seeing prices drop as precipitously as they might and Investors and homebuyers still see these areas as strong real estate investments.

If you have a homebuyer or borrower looking to buy or refinance in the San Francisco Bay Area, and they are in need a private mortgage because they do not qualify for conventional or traditional financing, or just need some FAST mortgage help, give us a call at 707-523-2099 or find us through our website at Sunpacificmortgage.com.  We have helped thousands of borrowers in California for over three decades and we work with Brokers and Agents.

Big, Fast, and Direct – Recently Funded!

March 2, 2023

image6 1Our Private Money Loans Do BIG and FAST!

End the wild ride and get real estate financing with one of our Direct Private Money Programs.

Purchase or Refinance mortgage taking too long?  Or being turned down at the last minute?  Let us help you or someone you know fulfill the need for BIG and FAST lending, just like we did for the Borrowers below:

Recently Funded

Program: Investment Property Cash-Out
Loan Size: 885k
Location:  San Luis Obispo County
Why Came To Us:  Difficult to prove income as self-employed.

Program: Property Purchase
Loan Size: 904k
Location: Marin County
Why Came To Us: Debt to income ratios above conventional financing requirements.

Program: Owner-Occupied Business Purpose Refinance
Loan Size: 725k
Location:  Solano County
Why Came To Us: Had a business loan coming due and wanted extra capital for company expansion.

We look forward to helping you or someone you know with our BIG and Fast Private Money programs.  Call us at 707-523-2099 or visit our website at www.sunpacificmortgage.com and we will get back to you with how we can help!

How’s The Real Estate Market for Alameda and San Joaquin Counties Looking?

February 28, 2023

alameda county real estate

While the nation is concerned about the effects of a possible recession, it is good to remember that while history doesn’t always repeat itself, we can learn from the past. According to historical data, in most recessions, home values have appreciated and mortgage rates have declined. By most accounts, it is highly unlikely that we will see any kind of protracted decline in new residential structures that could set off a recession.

Looking at the single-family residential market in two random counties in California, i.e. Alameda and San Joaquin, it becomes apparent that California may be spared the worst of the decline:

Alameda County:

Median List Price: $900,000

Average days on Market: 94

Inventory: 587

Price increase: 3%

San Joaquin County:

Median List Price: $555,000

Average days on market: 89

Price increase: 3%

Other than the fact that homes are sitting on the market longer than last year, it does not appear that prices have plunged to extents they have in other places in the nation.

According to Taylor Marr, Deputy Chief Economist at Redfin,

“The housing market has begun to recover after hitting a low point in the second week of November. We’re not out of the woods yet, but homebuyers are coming off the sidelines. The number of people contacting Redfin agents to start the homebuying process has improved 13%.”

If you are ready to start investing again – in rentals or your own home – and cannot qualify for a conventional loan or are looking for a fast close, give Sun Pacific Mortgage a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com.

How About Some Fine-Tuned Fast Home Financing in California?

February 23, 2023

image2 1Fine-Tuned Fast Lending!

Get your stopwatch ready because our team is feeling the need for speed! When you or someone you know needs SPEED, look no further than our Direct Private Money Programs. We can get them that loan – FAST.  After 35 years in business, we provide fine-tuned lending, as can be seen in the examples below:

Recently Funded

Program: Primary Residence Business Purpose Refi
Loan Size: 625k
Location:  Napa County
Why Came To Us:  Wanted to do debt consolidation on high interest company credit cards and expand business location.

Program: Investment Refinance
Loan Size: 960k
Location: San Diego County
Why Came To Us: Debt to income ratios were too high with other conventional lenders due to multiple properties owned, but borrower didn’t want to miss out on a good investment.

Program: Rental Property Purchase
Loan Size: 1.02 million
Location:  San Benito County
Why Came To Us: Had difficult to prove income but needed to complete an important 1031 Exchange transaction.

At Sun Pacific Mortgage, our team is ready to provide you or someone you know with fine-tuned service and speed. Visit our website at www.sunpacificmortgage.com or call today at 707-523-2099 to see how we can help!

What Are Experts Saying About the California Housing Market?

February 21, 2023

What Are Experts Saying About the Housing Market?

Here are some of the latest quotes by the economic experts regarding the housing market in the U.S.:

“There are growing signs that housing market activity may be closer to a trough. The decline in mortgage rates over the past couple of months has led to a small improvement in affordability and a rise in home buyer sentiment, albeit from a record low. Corroborating this, mortgage applications for home purchase have ticked higher in the past couple of months, which should feed through to higher sales.” Sam Hall, property economist at Capital Economics.

Let’s be clear: Even if home sales have indeed bottomed out, it doesn’t guarantee that home sales will have a swift recovery. This is what we can expect when home prices soared 41% in just over two years and mortgage rates doubled in a 12-month span.

Just because U.S. home sales might be nearing a bottom doesn’t mean we should be looking at the bottom for U.S. home prices.

“Affordability will remain stretched. We think house prices will need to fall another 6-7% to bring affordability back to a level that will support more normal levels of demand.” Capital Economics researchers.

The reason the housing market activity could be on the mend is because affordability has “depressurized” a bit lately. Over the past two months, the mortgage rates decreased, and incomes increased, helping to “depressurize” the market. Recently, Mark Zandi told Fortune:

“Housing demand is close to a trough; housing supply has yet to hit bottom; and house prices have a way to go before reaching their nadir. The reason: housing affordability remains out of balance.

In short, real estate remains a solid investment for anyone looking to grow their wealth for retirement. Whether you are a buyer or an investor, you can never go wrong with Sun Pacific Mortgage’s private loans to help you along the way. Visit our website at www.sunpacificmortgage.com or give Sun Pacific Mortgage a call at 707-523-2099 to discuss our available privately funded loans or how you can become part of our Team of Investors.

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