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What Is The Best Gauge of a Property’s Value?

January 8, 2019

What Is The Best Gauge Of A Property’s Value

There are so many other factors besides the size of your home that affects its value.  How about the materials used in the construction of the unit, the upgraded amenities, and most importantly, the location?  One example is a completely renovated kitchen and/or bath does not add square footage to your property but will certainly add to the value!

A better way to determine your home’s value might be researching the “comps” in your area.  This is the measuring tool used by real estate agents when determining the best listing price for your home.  Comparable homes will include ones in your neighborhood that best match the style of your home, for example a single-story ranch.

One of the best ways to determine the value of your home is with a CMA, or comparable market analysis, prepared free of charge by most real estate agents.  This analysis reviews homes sold in your area over the past 6-12 months comparing the location, size, bedroom and bath counts, condition, amenities and lot.

An appraisal is another way to determine the true value of your property.  This requires paying a licensed, professional appraiser to give you the market value of your home.  

Correctly determining the value of your property can be beneficial for determining how to properly list it for sale; Find out what equity you have so that you can get money for the needed home upgrades or other business venture you have wanted to do; Determining the equity in your property to decide if you have enough to do a Bridge loan to buy your “dream home”; Or how about discovering the equity for your use to get a temp loan for an additional investment property to make more monthly income through rent?!

There are multitudes of reasons why you would want to properly ascertain the correct value of your property. I hope you found this useful.

Here’s To A Great 2019!

January 4, 2019

New Years Promo 1A

Happy New Year!

“Out with the old and in with the new” is a common mantra for the new year. Our 2019 mantra to you is: “Out with the slow loan approval and in with faster & bigger loan approvals!”

Kick off 2019 with a Hard Money loan:

  • Many approved and funded in just 1 week.
  • Jumbo loans financed.
  • All FICO scores considered.
  • Property Condition not an issue.
  • Difficult-to-prove income/Self-Employed ok.

Call today at 707-523-2099 with any questions or scenarios.  We look forward to helping you kick off this New Year the fastest way possible!

Wrap Up A Great Holiday With Hard Money

December 20, 2018

Wrap Up Holidays With Hard Money

Just 2 more weeks until the end of the year!   Time to buy those last-minute gifts, move into your new home, or complete that refinance so you will have extra cash for this time of year. Let our Hard Money loan programs help you wrap up a great Holiday!

We finance Jumbo Loans; We fund FAST; FICO scores are not a determining factor; We can provide speed & flexibility for all your refinancing and purchasing needs.

Call us at (707) 523-2099, we want to help you wrap up a great Holiday season!

 

Recently Funded

We Finance Single Family Houses, Condos, Principal Residences
+ Multi-Family Units, Commercial & Office

$805,000 – Commercial Refinance
59% Loan to value
San Fernando, LA County

$300,000 – Temporary Purchase
75% Loan to value
Santa Rosa, Sonoma County

$550,000 – Temporary Refinance
41% Loan to value
San Jose, Santa Clara County

$580,000 – Business Purpose Refinance Non-Owner
41% Loan to value
Los Angeles, LA County

Selling Your Home in Today’s Market

December 10, 2018

Selling Home In Todays Market

It is never a fun adventure to sell your home, especially while you’re still living in it.  And in today’s market, where multiple offers are not the norm they once were, it is even more important to observe some basic rules.

Keep your home pristine!  Not just “picked up”, but sparkly clean.  It should look like a model home where no one lives.  I know this is well-nigh impossible, especially with kids in the house, but it’s worth some effort.

Pay attention to your yard.  There should be no leaves, no weeds, and no spider webs in the corner of the porch or patio.  Spruce it up with some colorful plantings, even in the winter.

Leave when you have showings.  That means pack up the kids and pets and just drive around, if that is what it takes to clear out of the house.  There are legitimately people who are allergic to or fearful of dogs or cats and may not even enter the property if they are present, so it is important to take them with you.  Otherwise, you may lose a potential buyer!

You may get a ridiculous offer.  Don’t be tempted to give away the farm to clinch the deal.  Remember you’re just selling your house. Be open to negotiating, but don’t allow desperation to cloud your judgement.

These ideas are meant to make selling your home an easier process, one as painless and as fast as possible while still getting the most money for your house.

If you are not working with a licensed Realtor, contact one from a local real estate company.  And if you are considering buying another home in California, then contact a licensed and experienced Lender who can help you take advantage of any existing home equity to purchase another home prior to selling your current house.  This could be beneficial to you and your family.

Good luck to you!

Make Your Holiday Happier With Hard Money

December 6, 2018

Make Your Holiday Happier With Hard Money

The Holiday season is fast approaching.  Why not make it happier for yourself and a Home Buyer/Borrower, by taking advantage of the many benefits of a Hard Money loan:

– We can finance FAST. Many approved & funded in less than a week!

– FICO scores not a determining factor.  Get a loan despite poor credit!

– Considered “all cash”, making for better purchase offers!

– Hard Money provides speed & flexibility for all refinancing and purchases!

Let us help make this Holiday extra special with fast loan approval.  Call us at (707) 523-2099 with your questions and scenarios.  We want you happy for the Holidays!

 

Recently Funded

Our Average Is 18 Days To Completion!

We Finance Single Family Houses, Condos, Principal Residences

+ Multi-Family Units, Commercial & Office

$690,000 – Non-Owner Purchase
53% Loan to value
Petaluma, Sonoma County

$1,500,000 – Consumer Temporary Refinance
49% Loan to value
San Rafael, Marin County

$320,000 – Non-Owner Purchase
61% Loan to value
Brentwood, Contra Costa County

$1,000,000 – Refinance Business Purpose
Healdsburg, Sonoma County
44% Loan to value

No Loan Fumbles With Hard Money!

November 19, 2018

No Loan Fumbles With Hard Money!

You will never fumble if you take advantage of our Hard Money programs!

There are very few Hard Money companies that do Owner Occupied, both Business and Consumer Purpose loans, but we do. The distinction between these programs is based on Federal and State guidelines. We provide 2 different programs for business purpose and consumer purpose loans on Owner Occupied properties: A 12-month short term or a 15-year long term.  The short term is for Borrowers who have an exit strategy within the 12-month term and long term if there is no such strategy.  See below for examples such of loans recently funded through our office.

Let us help make a touchdown for you and your borrower with fast loan approval, for those loans that might be fumbling!  Call us at (707) 523-2099 with your questions and scenarios.

 

Recently Funded – 18 Days Average To Completion

We Finance Single Family Houses, Condos, Principal Residences

+ Multi-Family Units, Commercial & Office

$540,000 – Santa Rosa, Sonoma County
70% Loan to value
Refinance Consumer Purpose

$2,541,000 – Oceanside, San Diego County
64% Loan to value
Refinance Business Purpose

$1,750,000 – Saint Helena, Napa County
63% Loan to value
Refinance Business Purpose

$341,000 – Cazadero, Sonoma County
55% Loan to value
Refinance Consumer Purpose

Where Is The Real Estate Market Headed?

November 14, 2018

Where Is The Real Estate Market Headed

What’s one to believe about the real estate market today?  There are so many conflicting headlines that even the savviest investor is confused.  Let’s look at some hard statistics which may enable us to come to our own rational conclusions:

We know home prices have appreciated year-over-year for the past 76 straight months.  Does this mean we are on the edge of another housing bubble? Not if the lack of homes for sale persists.  Demand is strong as many renters have experienced when they start to look for their dream home. There hasn’t been the stabilizing 6-month backlog of housing inventory in over 5 years, which has kept prices up while inventory has been down.

What about pricing and appreciation?  Certainly, home prices have appreciated over the last 76 months, driven mainly by supply and demand.  This has affected the starter-home market more than any other because of the increased competition for these homes. Senior Economist, Aaron Terrazas wrote on Zillow that “home values are still expected to appreciate at double their historic rate over the next 12 months”.  This wouldn’t appear to herald a real estate crash any time soon.  

Those who have been in real estate for as long as we have can all agree on the fact that real estate ebbs & flows.  Keeping abreast of the market in your area is what is important, so you can decide if the price is right to buy now or if you make an offer slightly under asking to still get an accepted offer.  What about listing your home and for what price? These are questions to be posed to licensed and experienced Realtors who know the market and have your best interests in mind.

Here’s to making the real estate market work for you!

To read full article:  https://www.keepingcurrentmatters.com/2018/08/29/top-3-myths-about-todays-real-estate-market/

Recently Funded Fast – Guardians

November 8, 2018

Guardians Of Fast Hard Money!Guardians of FAST Hard Money!

Why are we considered the true guardians of getting Hard Money loans done FAST?  Maybe it’s because we can complete these loans with an 18 day average and have been doing it for 30 years!

One of our most popular programs is the Bridge Loan – for purchases and refinances.  With this loan you can close or fund quickly, because the requirements are fewer than with other loans. The primary concern is equity, which must be 70% to secure the loan.

See below for recently funded Bridge loans through our office.  And call (707) 523-2099 and let us be the guardians of your loan scenario, so it gets approved fast!

Recently Funded Bridge Loans – All Completed In 1- 3 Weeks!

We Finance Single Family Houses, Condos, Principal Residences

+ Multi-Family Units, Commercial & Office

$540,000 – Santa Rosa, Sonoma County
70% Loan to value
Needed our help as had a very short close date.

$559,000 – Santee, San Diego County
70% Loan to value
Needed our help due to FICO issues.

$514,000 – Santa Rosa, Sonoma County
65% Loan to value
Needed our help due to difficult-to-prove income.

$650,000 – West Hills, Los Angeles County
65% Loan to value
Needed our help due to property condition.

To Buy or Not To Buy?: That is the Question

November 1, 2018

To Buy Or Not To Buy?: That Is The Question

Although not as existential as Hamlet’s query, this is a life changing decision facing many Californians today. Ultimately, the answer depends on several real-life factors: your finances, your long-term plans and the real estate market in your area.  Some of the questions you might want to ask include:

  • What can you afford?
  • How much do you have for a down payment?
  • How long do you plan to stay in the house?
  • Are you looking for stability or flexibility?
  • Do you want to be responsible for maintenance and repairs?
  • What are your financial, career and family goals?

Of course, the other choice you have is to continue renting.  A wise next step in your decision-making will include a Pros & Cons List of renting vs. buying.  It can look something like this:

Pro Buying:

  • Builds equity and credit
  • More stability (especially with schools)
  • Some tax benefits
  • Can “nest”, improving or upgrading to your tastes
  • Social benefits of a stable neighborhood

Con Buying:

  • Requires substantial money, paperwork upfront
  • Additional expenses beyond mortgage payment
  • Responsible for repairs and maintenance
  • Moving costs

Pro Renting:

  • Fewer upfront costs
  • Mobility
  • Not responsible for maintenance/repairs
  • No property tax bills

Con Renting:

  • Landlord can raise rent or sell the property
  • Choices may be limited
  • Might mean moving several times
  • Don’t build equity
  • No tax benefits

To summarize:  Homes typically increase in value (approximately 7.2% in California in 2017) thereby increasing your retirement fund, whereas, every penny spent on rent is gone forever.  Your homeowner costs are more predictable and stable than renters’ expenses, since a landlord can raise your rent in accordance with the rent control laws in your city every year.  If you own a portion of your mortgage, interest and property tax is deductible. There may be a small renters’ deduction if you rent.

To help evaluate your choices regarding buying/renting there is a helpful calculator available on Zillow: https://www.zillow.com/rent-vs-buy-calculator/  

When you reach the decision to buy, but find you do not qualify for a conventional loan, you need a fast loan or stronger offer over others, Sun Pacific Mortgage will be here to help you achieve your dream!  We have unique alternative financing options through our Hard Money lending programs.

Call us at 707-523-2099!

Strange & Scary Loans Don’t Frighten Us!

October 31, 2018

Strange Scary Loans Don’t Frighten Us

“I would like to buy a particular house, but it needs fixing.  I haven’t been able to get loan approval despite numerous attempts elsewhere – I think the condition has scared everyone away.  Can you help me with a Hard Money loan?” This was the question posed to us a few weeks ago, by a Flipper in San Mateo.

Strange and scary property conditions are not an issue for our programs, so we weren’t frightened off.  We got right to work and had his loan scenario approved within 48 hours!

He got a business-purpose refinance using another one of his properties.  This gave him the $400,000 loan he needed and in less than 3 weeks, he had new house keys in hand!

Don’t let a strange loan scenario scare you off. Call us at 707-523-2099 to find out how we can get that loan approved!

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