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Oh My Gourd – Recently Funded!

we fund big loansWe Fund BIG Loans!

Having been in business for over 34 years, we are experts at getting large loans funded! Let us help you or someone you know, like we did below:

Recently Funded

Program: Owner Occupied Bridge Purchase
Loan Size: 898k
Loan to value: 70%
Location: Riverside County
Why Come To Us: Wanted no contingency of having to sell current house before buying new home.

Program: Primary Residence Refinance for Business Purpose
Loan Size: 1 million
Loan to value: 65%
Location: San Mateo County
Why Come To Us: A few issues with credit report but with good equity and ability to repay the loan – we were able to get him funded fast.

Program: Primary Residence Refinance
Loan Size: 800k
Loan to Value: 35%
Location:  San Francisco, CA
Why Come To Us: Recent bankruptcy and wanted to consolidate debt.

 

If you have an “Oh My Gourd that’s a big loan” that needs faster funding or having difficulty getting approval elsewhere, give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com.  We’ll quickly respond with a proposal as to what we can do for you or someone you know!

Real Estate Trends in California as of October 2022

Are We Looking at a Change CA Real EstateCalifornia home prices have increased on a year-over-year basis, but the rising rates have been very slow compared to the beginning of this year, before the interest rates increased. September’s statewide median home price was $822,680 making it the fourth consecutive month with single-digit yearly growth at 1.6%.

At the regional level, home sales in all major California areas declined from a year ago, with four of the five major regions dropping more than 25% year-over-year, but home prices rose in all major regions except San Francisco Bay Area.

  • The San Francisco Bay Area had a year-over-year price decline of 2.6 percent, with the median price being $1,256,500.
  • The Central Coast had a year-over-year price gain of 3.7 percent, with the median price being $920,000.
  • Southern California had a year-over-year price gain of 3.8 percent, with the median price being $783,380.
  • The Central Valley had a year-over-year price gain of 1.3 percent, with the median price being $456,000.
  • The Far North had the highest year-over-year gain of 2.7 percent, with the median price being $380,000.

According to the California Association of Realtors, the 2022 housing market will be down slightly because of the supply constraints and higher home prices. They still predict that transactions will post their second-highest level in the past five years. The California median home price is forecast to rise 5.2% to $834,400 in 2022.

The California housing market sizzled and broke all records last year, and according to Zillow, California’s housing market remained the most valuable in the country as of last December. Now is still the time to invest in one of the most consistent wealth-building assets over the long haul.

If you have considered or are ready to start increasing your wealth, give us a call at 707-523-2099 to discuss what it takes to join our family of trusted Investors. You can also check out our Investor website page here https://www.sunpacificmortgage.com/invest-in-trust-deeds/ and send in a form for further data.

Leafing You Breathless – Recently Funded!

Nov 2022 Week 2 copyGet Relief From Stressful Financing:

Make this month less stressful with our FAST Private Money Loan Programs, just as we did below for these other Borrowers:

Recently Funded

(*See Below For Current Market Updates And Timely Blogs*)

Screen Shot 2022 10 31 at 11.49.26 AMNeed a sigh of re-leaf and don’t know where else to turn to? Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com with any questions or scenarios.  We’ll quickly answer with what we can do to help!

Press Democrat Report on Sonoma County Real Estate

In an article that appeared in the local Sonoma County newspaper on October 14, 2022, Sara Edwards, their business reporter, had some interesting highlights to share regarding the real estate market today.

Some of her points included:

  • Santa Rosa had the highest number of home sales in 2021
  • Sebastopol was the most expensive
  • 2,2440 homes sold in Santa Rosa in 2021=39% increase from 2019
  • Sales in other local cities never surpassed 1000 homes
  • More housing divisions that have been under construction are now getting completed in Santa Rosa
  • Multiple buyers and offers, along with a lack of inventory contributed to increased sales prices.
  • Sebastopol’s highest median sales price in 2021 was $1,095,000
  • Sebastopol is the only city to have a median price over $1 million.
  • Cotati and Rohnert Park were tied with the lowest median home sales price at $635,000

All of Sonoma County saw a frenzied housing market for the past two years, and while the market has somewhat cooled down, prices are not tanking. The multiple offers are few and far between but offers still come in above asking.

Knowing that homeownership is a great hedge against inflation, we can expect that California’s market will fair far better than other parts of the country.

If you are interested in becoming an investor or need to purchase or refinance, give Sun Pacific Mortgage a call at 707-523-2099 or find us at www.sunpacificmortgage.com. We offer fast, private loans for owner-occupied, non-owner occupied, commercial and land deals.

U.S Housing Market Experiencing One of the Most Dramatic Shifts in its History

Model house on a financial graphEven Federal Chair, Jerome Powell, went so far as to call it a “difficult correction.”

While the speed and breadth of the slowdown have some Americans worried about a repeat of the 2008 housing bust, John Paulson, the hedge funder who famously pocketed $4 billion betting against the U.S. housing market in 2008, is among those who believe history isn’t repeating itself.

Paulson believes that the underlying quality of the mortgage industry today is far superior to the subprime mortgages that flooded the market in 2008. Thanks to the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the stability of the U.S. financial system and the quality of our mortgages is ensured.

As a result of this act (CFPB), banks and financial firms are not highly leveraged. This phenomenon would be seen as unacceptable in today’s market and this law prevents banks from making specific types of risky investments.

At Sun Pacific Mortgage, we adhere to the Dodd-Frank regulations. Any loan is thoroughly screened and only those who have sufficient equity and proof of the ability to repay the loan get presented to our team of Investors.

If you are looking for a profitable return on your investments in these uncertain times, give Sun Pacific a call at 707-523-2099 to discuss becoming part of our team of private investors, or visit our website at www.sunpacificmortgage.com.  We have been engaged in private lending to Californians for 34 years and are one of the only private lending companies that still offer owner-occupied, consumer purpose mortgages.

Spooktacular Loan of the Week!

RIP LoansR.I.P. Turned Down Loans!

Avoid mortgage declines and slows this Halloween season by taking advantage of our Private Money loans:

Screen Shot 2022 10 10 at 4.08.16 PM

Our Spooktacular Loan of the Week

Program: Owner-Occupied Refinance Business Purpose
Loan Size: 900k
Location: Sacramento County
Why Came To Us: A Mortgage Broker was hoping to get quick assistance for his client who’s debt to income ratios were too high. This Borrower needed a quick refinance with cash out to save a rental from default and to upgrade the property so they could get higher rental return. With an LTV of 51%, this was easy for us to get approved and funded!

If you have any questions or scenarios, you would like us to review, call 707-523-2099 or visit our website at www.sunpacificmortgage.com.  We will quickly show you how to make getting a loan less terrifying with our Spooktacular loan programs.

The Ever-Changing California Real Estate Market

California Real Estate Remains Best Long Term Investment 1

The changes in the real estate markets, throughout California, have been one of the biggest news stories in recent months.  The news reports slowing sales and rising inventory, but prices still rising year over year.  Home prices are indeed higher than a year ago but peaked in May and have softened since then.

What the experts are not predicting however, is a crash.  They all agree that this slow down will not be a repeat of 2008.  Homeowners in Northern California as well as Southern California have lots of equity and have legitimately qualified for their home loans.  We don’t have any of the crazy lending we had leading up to the 2008 mortgage crash.  Because most Homeowners refinanced at great rates, they have lower monthly payments too.

What we are seeing is an increase in inventory with homes staying on the market longer and asking prices adjusting from the aspirational prices that Homeowners hoped to achieve in the past couple of years.

Homebuyers are seeing new opportunities with more homes to choose from, and Sellers are willing to make more repairs.

The best advice to Buyers who are hoping to purchase a home in some of the hottest California Markets, such as the Bay Area Peninsula counties, Sonoma County, Orange County and others, is to assess how long they plan to live in their new home. With an historical 8% inflation rate, we see home values moving up over time. If a Buyer finds a home that fits their needs and they are comfortable with the payment, they shouldn’t be concerned if home prices dip a little as long as they are higher when they go to sell.

If you or your client, have been turned down for a conventional or traditional loan, you may want to give us a call here at Sun Pacific Mortgage & Real Estate – also known as The Guys in the White Hats: 707-523-2099 or visit our website at www.sunpacificmortgage.com. We are family owned & operated and have been providing fast, cash-like mortgages for over 34 years in California. We specialize in owner-occupied mortgages which have become more difficult to obtain recently.

Get Your Needed Loans Faster With This!

BIKESRide With Confidence – Private Money Finishes Fast!

Avoid loan slows or disapprovals by working with us to get a FAST Private Money mortgage for your next investment, purchase, or refinance!

Let us help you or someone you know, just as we did below:

 

Loan of the Week

Program: Bridge Purchase Financing
Loan Size: $825,000
Location: Sonoma County
Why Came To Us:  A local Broker brought these Home Buyers to us, as their final loan approval was turned down due to debt-to-income ratios.  Buyers were supposed to sign closing docs in just a few days but were without financing!  This is where we were able to step in and get them a fast Bridge loan so they wouldn’t miss out on their dreamhouse purchase, prior to selling their existing home.  With our help, the Buyers were able to sign docs and close on their new home on time!

We specialize in alternative financing, for those who need FAST loans or have been turned down elsewhere.  Any credit issues, difficult to prove income, property condition, etc. – not a problem!

Call our office at 707-523-2099 or visit www.sunpacificmortgage.com; we will be happy to help you or someone you know, charge into this Fall season with confidence using our quick Private Financing Programs.

The Housing Market in California Today

california neighborhood

A summary of the real estate market in California might read, “mixed bag”.  While home prices increased year-over-year in July, the number of homes sold fell by a whopping 31.1% and the number of homes for sale rose as compared to last year. According to the California Association of Realtors 30 counties recorded sales declined more than 30% from last year.

The Central Coast experienced the largest decline among major regions, with sales decreasing 37.3% from the previous year.  However, the good news for sellers is, median sales price continued to grow in nearly 80% of the California counties!  The final median home prices decreased by only 3.5% to $833,910 (meaning homes are selling for less than asking price) – but this median home price was 2.8% higher than last year at this time.

The report for August reads as follows:

  • Closed sales per day: 513
  • Pending sales per day: 306
  • New listings per day: 260
  • % Of active listings with reduced price: 41.6%
  • % Of homes closed above list price: 35%
  • Median days of the market for closed sales: 22

Currently, we see some markets cooling down.  It is good to keep in mind that all real estate is local and the national news headlines don’t necessarily apply to every market around the country. It would appear that in most of California it has gone from an extreme seller’s market to a more balanced one. One thing remains constant: real estate is now and always has been a sound investment.

If you are looking for a profitable place to invest your portfolio, give Sun Pacific Mortgage a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com and become one of our many private investors in Deeds of Trusts.  Earn upwards of 13% return on your investments in stronger real estate Notes.

Wine Country Trends in Real Estate for July 2022

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For purposes of this blog, Wine Country includes the counties of: Marin, Mendocino, Napa, Solano, and Sonoma.

  • Homes and Condos available for sale at the end of July= 2,697 (down 34% from July 2021; down 11% from June 2022) This has been the pattern for the past 3 months.
  • Inventory in the past 10 years has been more than 10,000 homes.
  • Sales= 1,169 (32% less than 2021; 7% less than June 2022)
  • Price reductions: Napa 15%; Sonoma 22%; Mendocino 45%
  • Selling more than original asking price: Sonoma 48%; Napa 35%; Mendocino 25%

Mortgage rates at the beginning of June reached 6.5%, but by July they were closer to 5%, which is not that far off the 4% we averaged for the past 13 years.

Some experts think that inflation may have reached its peak and is retreating slowly.  Buyers and Sellers alike would be pleased with this trend!

If you have been turned down for a conventional loan from a bank or mortgage broker, give Sun Pacific Mortgage a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com to see if a private loan is the solution to your problem.  We have been in business for 34+ years serving all of California and have thousands of Investors ready to help provide you with a fast refinance or purchase solution.

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