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2022 Housing Market Forecast for Single-Family Homes

January 4, 2022

2022 Housing Market Forecast for Single Family Homes

Good news and bad news were recently posted by the California Association of Realtors (C.A.R.) regarding the economic outlook on housing. The bad news: supply constraints and higher prices will bring California home sales down slightly in 2022. The good news: transactions will still post their second highest level in the past five years.

C.A.R. sees a decline in existing single-family home sales of 5.2% next year (416,800 units) down from the projected 2021 sales figure of 439,800.

The median home price is forecasted to rise 5.2% to $834,400 following a 2021 projected increase to $793,100 (20.3%).

According to C.A.R. President Dave Walsh:

“A slight decline next year from the torrid sales pace of the past year-and-a-half will be a welcome relief to potential homebuyers who have been pushed out of the market due to high market competition and an extremely low level of homes available for sale.”

Economists look for the cyclical effects from the latest economic downturn will wane, and a strong recovery will follow. Demand for homes will continue to outstrip available supply as the economy improves, resulting in higher home prices and slightly lower sales in 2022.

If you are thinking about refinancing or buying a home in 2022, but do not qualify for a conventional mortgage, give Sun Pacific Mortgage a call at 707-523-2099 to discuss our available privately funded loans. Or visit our website at www.sunpacificmortgage.com. We offer owner-occupied and investment property loans for purchase, refinance, and bridge loan.

SoCal Real Estate Cools Down—But Only a Bit

December 20, 2021

SoCal Real Estate Cools Down—But Only a Bit

In recent months Southern California has seen a slight cooling of the cutthroat housing market. Perhaps it is due to home shoppers tired of losing bidding wars and who, subsequently, put their search on hold temporarily.

As one Realtor put it: “What we are seeing is just a minor slowdown. Buyers can just expect slightly less pain.”  Where once you might see 20 offers on a property, now you see 4. Better, but still not easy.

In October, home prices in the 6 counties of Southern California rose 14% from a year ago reaching an all-time median high of $690,000. Sales declined 6.6%, the first drop since June 2020.

Up until now, home prices were rising faster than they had for years for a variety of reasons:  low inventory, record-low mortgage rates and an influx of millennials into the market. The pandemic also drove more people to seek out more space, and first-time home Buyers left pricey city rentals for a home of their own.

Most economist don’t see these price increases continue at the pace we have been seeing over the past couple of years, yet most homes still sell above their list price.

Here is a snapshot of what we have seen in the market over the past year:

  • In LA County, the median home price rose 10.5% to $790,000, while sales fell 0.9%.
  • In Orange County, the median home price rose 15.7% to $920,000, while sales fell 13.6%
  • In Riverside County, the median home price rose 20.2% to $535,000, while sales fell 6%.
  • In San Bernadino County, the median home price rose 16.3%, while sales fell 5.3%.
  • In San Diego County, the median home price rose 13.8% to $740,000, while sales fell 12.4%.
  • In Ventura County, the median home price rose 10.7% to $725,000, while sales fell 6.5%.

If you are thinking of wading into the market this coming year, now that the frenzy has waned slightly, but have been turned down for a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099 or visit our website www.sunpacificmortgage.com. We have helped thousands of Borrowers just like you achieve their dreams with a private loan from one of our many Investors.

Real Estate Market for SFO October 2021

November 22, 2021

California Trust Deed Investing

Another stellar month for San Francisco real estate in October. Despite all the naysayers’ predictions that the market was on its way down, all markers indicate a continued upward trend. Here are the results for last month’s single-family residence in San Francisco:

  • Average List Price:  $2,093,971
  • Average Sales Price:  $2,358,448 ($2,131,959 in Sept.)
  • Average Sq. Ft. Price:  $1,093.37
  • Average D.O.M: 19
  • All Sold Properties:  709 (575 in Sept.)
  • SFR Sold:  303
    • 36 below price
    • 11 for listing price
    • 256 above listing price
  • One SFR sold for $1,506,248 OVER listing price

With the holidays approaching, we usually don’t expect many homes coming up for sale, but since it appears that we are constantly in new territory when it comes to the real estate market lately, we could see a significant reversal of the norm.

If you are looking to sell/buy anywhere in California, give Sun Pacific Mortgage a call at 707-523-2099 to discuss the many lending programs we offer for purchasing, refinancing, and bridging on owner-occupied and investment properties. Or visit our website www.sunpacificmortgage.com to learn more!

Want Passive Income? Join Our Team of Investors

November 16, 2021

GUYS IN THE WHITE HATS copy

Sun Pacific Mortgage has been in business for almost 34 years now, providing private mortgage loans to thousands of Californians. We continue to be there for those in need, due to the loyal and experienced Private Investors who trust us to perform our due diligence and provide them with sound investment opportunities.

Before we offer any loan to our Investors, we have carefully vetted the loan and the Borrower to reasonably ensure we endorse only those that have the legs to successfully carry it through to the end of the term.

Of all the loans entrusted to us, only 1 in 5 are presented to our Investors, thus proffering only those who fit the 2 main qualifications for getting a private loan through us:

  1. The principal factor considered for any Trust Deed that we offer is the ability of the Borrower to repay the loan and secondly, that there is enough equity/good down payment to give an Investor a reasonable sense of security in his/her risk.

We currently have thousands of partner-investors that receive new Trust Deed offerings each day, twice a day. When they see a potential opportunity for some passive income, they respond and receive further details regarding the property and the Borrower.

We are able to close most loans anywhere from one week to a month. In the past three months, we have averaged 30 new available Notes each month, for loan sizes between $150,000 and $1,800,000. Larger loans are generally fractionized, meaning more than one Investor is engaged in supporting the loan.

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.

Sonoma County Real Estate Sales

November 9, 2021

Sonoma County Coming Out on Top in Move North

Sales Comparison March 2020 – August 2021

On September 26th, an article in the Press Democrat quoted statistics sourced by Compass Real Estate Brokerage for single-family home sales over past six months of 2021.  These were compared to those same numbers for 2020.  They reveal what we all knew: real estate has been booming in our neck of the woods lately!  Here are the facts to support this well-known belief:

MONTH                          NUMBER OF HOMES SOLD     MEDIAN PRICE

March 2020                       301                                              $678,910

March 2021                       421                                              $767,000

April 2020                          249                                              $659,000

April 2021                          580                                              $775,000

May 2020                           206                                              $674,495

May 2021                           546                                              $780,000

June 2020                          457                                              $710,000

June 2021                          613                                              $825,000

July 2020                            606                                              $720,000

July 2021                            663                                              $761,000

August 2020                       556                                              $701,000

August 2021                       596                                              $770,000

While the momentum may have somewhat slowed in the past month, it is still on a robust course to smash past records.  The only thing putting the brakes on sales lately is the pervasive lack of inventory.  Some of this hesitancy on the part of Sellers may be because they are concerned that they will not be able to find a replacement home fast enough after selling their present home.

Sun Pacific Mortgage has a solution: a fast, short-term, private money bridge loan!  By accessing the equity in your home before you sell, you can afford a down payment on your future home.   You can also use existing equity in your current home and merge it with the equity in the new home you want to buy – also a Bridge loan that is short term and can help you accomplish a stronger purchase offer!  With homes selling quickly and with multiple offers over asking prices, this strategy will give you the edge you need in this economy.  Call Us at 707-523-2099 to see what we can do for you !

Real Estate Statistics for September 2021 San Francisco Peninsula

November 2, 2021

San Francisco Real Estate Statistics for September 2021

Markets typically move in cycles characterized by pervasive economic optimism, uncertainty, or pessimism. Today, optimism is the prevailing motivation especially behind the real estate market. We have only to examine the results of September’s sales data recorded for the cities on the San Francisco Peninsula to see that exemplified.

Menlo Park

  • Days On Market: 23
  • Average Sales Price:  $3,539,340
  • Average Sales Price was 6% above asking

Foster City

  • Days On Market:  9
  • Average Sales Price:  $2,2253,961
  • Average Sales Price was 12% above asking

Belmont

  • Days On Market: 12
  • Average Sales Price:  $2,267,777
  • Average Sales Price was 11% above asking

San Carlos

  • Days On Market: 12
  • Average Sales Price:  $2,488,548
  • Average Sales Price was 6% above asking

San Mateo

  • Days On Market: 17
  • Average Sales Price:  $1,921,305
  • Average Sales Price was 7% above asking

Burlingame

  • Days On Market: 13
  • Average Sales Price:  $2,991,900
  • Average Sales Price was 11% above asking

If you are considering a purchase or refinance, whether it is for an owner-occupied or an investment property, give Sun Pacific Mortgage a call at 707-523-2099 to discuss a privately financed mortgage. Armed with a pre-approval letter, will be a huge asset when presenting your offer to a Seller in today’s economy. We are known for our fast closings friendly, informative service throughout the buying process.

How Is the Autumn Real Estate in Sonoma County?

October 26, 2021

How Is the Autumn Real Estate in Sonoma County

There has been incredible movement upward in the real estate world of Sonoma County this past year. To realize just how robust the market was this year, we have only to examine the increased price per square foot in each city or region. A quick recap follows:

  • Sonoma County: Ave. price per sq.ft.= $528 (up 10%)
  • Sonoma Coast:  Ave. price per sq.ft.= $817 (up 61%)
  • Russian River region: Ave. price per sq.ft.= $578 (up 53%)
  • Windsor:  Ave. price per sq.ft.= $476 (up 27%)
  • Healdsburg:  Ave. price per sq.ft.= $830 (up 22%)
  • Petaluma Westside:  Ave. price per sq.ft.= $628 (up 21%)
  • Petaluma Eastside: Ave. price per sq.ft.= $477 (up 10%)
  • Northeast Santa Rosa: Ave. price per sq.ft.= $469 (up 13%)
  • Northwest Santa Rosa:  Ave. price per sq.ft.= $451. (up 13%)
  • Southwest Santa Rosa:  Ave. price per sq.ft.=$431 (up 4%)
  • Cloverdale:  Ave. price per sq.ft.= $450 (up 13%)
  • Cotati and Rohnert Park:  Ave. price per sq.ft.= $429 (up 6%)
  • Sebastopol:  Ave. price per sq.ft.= $578 (up 2%)
  • Oakmont:   Ave. price per sq.ft.= (up 2%)
  • Kenwood and Glen Ellen:  Ave. price per sq.ft.= $746 (down 6%)

It becomes obvious that the North Bay real estate market has seen an incredible value increase over this past year!  Will it continue for the remainder of the year? That depends on how many Sellers come to the table between now and December 31.

If you have been frustrated in the bidding wars you have encountered lately, give family owned and operated Sun Pacific Mortgage a call now, at 707-523-2099. We can quickly get you pre-approved so you can present yourself as a serious Buyer when you make your offer to that Seller!  We have been a private mortgage lending company, servicing all of California for the past 33+ years – and are here to help get you that home you want.

Why Buy A Home Now?

October 19, 2021

Why Buy a Home Now 1

The financial benefits of buying a home will always be debatable, but one element is non-refutable—the ability to build wealth.

These past couple of years have only confirmed this belief with appreciation recorded at unheard of rates.  The National Association of Realtors reported that the average gain for single-family homeowners over the last five years was $139,134 and over the past 10 years was $218,505.  In California you could easily double or triple those figures since our real estate market has had such unprecedented appreciation recently. Especially considering the hot real estate markets of the Peninsula counties of San Francisco, San Mateo and Santa Clara – these can be great investments for larger returns.

Homeownership builds household wealth, which also enables households to move to the home of their dreams more easily.  To quote Mark Fleming, Chief Economist at First America:

“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home—the wealth effect of rising equity.”

In a recent survey which estimated the cumulative home appreciation over the next five years, market strategists have determined that a residential purchaser today will earn a 31.8% increase in their household wealth.

If you have been denied a loan from your bank or other lending institution, consider a privately funded loan from the investors at Sun Pacific Mortgage. Call us today at 707-523-2099 or visit https://www.sunpacificmortgage.com/ for more information.

What Will This Fall Be Like in the Real Estate Market?

October 12, 2021

What Will This Fall Be Like in the Real Estate Market

According to many experts, the California real estate market, along with the weather, is expected to cool off somewhat in the Fall.

We are more likely to see something a little closer to normal, and yet the market is likely to stay highly competitive because there will still be many more buyers than sellers.  This does not mean that home prices will fall, but the expectation is that going into the end of the year, prices will rise a more modest 5%-6% as opposed to the 17.2% annual rise in April.

While more Bay Area homes are likely to go up for sale during this second half of the year, the influx won’t be nearly enough to put a dent in this housing shortage, but it may help curb the wild price growth.

Sonoma County on down to San Francisco and Peninsula markets, demand is forecasted to stay strong even though many buyers are frustrated or simply priced out of the market.  More millennials are hitting their home buying years, and because builders haven’t been able to ramp up construction to meet the population growth, resales will continue to experience a healthy growth.

One Realtor explained what we in California might be facing:

“Don’t expect deals in the fall if you are house hunting in the most desirable part of a market or competing for a particularly nice house.  Homes that stand out for one reason or another are still flying off the shelf.”

If you are hoping to buy or access your equity this fall, but have been turned down for a conventional mortgage, give Sun Pacific Mortgage a call at 707-523-2099.  Or visit our website at www.sunpacificmortgage.com. We have been helping folks just like you for over 33 years, and we look forward to pairing you up with one of our many private lenders who can make your dreams come true.

Investing in Trust Deeds with Your 401K or IRA

October 5, 2021

Investing in Trust Deeds with Your 401K or IRA

Many investors would like to increase their personal wealth with real estate property but dread all the work and responsibility that comes with the management and headaches inherent in rentals.  That is the reason wise investors have turned to Deeds of Trust, to realize more than average returns on their investment and avoid the hassles and potential nightmares of being a “landlord”.

Buying Trust Deeds turns you into a real estate lender and a passive owner of property.  You supply the mortgage and in return receive monthly payments of interest and have the loan paid off over time (which can be for as little as six months to one year).

When this investment is undertaken with money from your IRA or 401K, the payments can either be reinvested into your IRA to grow tax-free or can be taken as withdrawals to meet your minimum withdrawal requirements.

Since IRAs are designed to hold investments on a long-term basis, Trust Deeds have become a financially desirable addition to retirement portfolios.  Also, the rates on the return are attractive enough to make it a worthwhile option for IRAs or 401 plans. Our Trust Deeds earn interest rates up to 12-13%.

We here at Sun Pacific Mortgage do all the “heavy lifting” for our investors.  Our due diligence in obtaining the necessary background information on both property and borrower creates a safety net for your hard-earned investment funds.

With our long reputable 33+ years of honest lending opportunities, we guarantee secure and vetted lending of trust deeds for our investors.

If you are seeking another avenue to diversify your retirement holdings and to gain more profitable returns on your investments, give Sun Pacific Mortgage a call at 707-523-2099 or email us through our website www.sunpacmortgage.com to expand your investing opportunities.

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