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2023 California Housing Market Continues to Stabilize

Model House On A Financial Graph

Most housing analysts expected 2023 to be a rough year for the U.S. housing market. In fact, among the 29 major housing forecast models, 24 forecasted a national home price decline for 2023.

But, so far, that hasn’t proven to be true.

Through the first few months of 2023, the U.S. housing market continues to show signs of stabilization. Existing and new home sales have inched up a bit this year, and homebuilder confidence has improved. Firms like Zillow, CoreLogic, and Black Knight have all reported positive month-over-month home price increases this Spring.

What’s going on? For starters, a lack of homes for sale, coupled with the market entering its busier Spring period, has, at least for now, pushed the national housing market back into equilibrium.

Don’t misread the above statement and think that the housing market is normal just yet. Some housing markets are booming right now, while others, like San Jose, are still passing through a home price correction.  Even within a particular market, it can vary considerably.

According to Zillow, among the 1,563 California ZIP codes tracked, 6.7% saw home price increases between December 2022 and March 2023. The other 93.3% of California ZIP codes saw a home price decrease, if only slightly.

CoreLogic, a real estate research firm, expects U.S. home prices to rise 3% between January 2023 to January 2024. If CoreLogic is correct, then U.S. home prices would end 2023 back at price levels achieved at the height of the boom in June.

It is good to remember that the appreciation in California home values during the past 2 years was about 15%, so these slight declines should not deter buyers from jumping into the real estate market.

If you are looking for a private real estate loan, and can’t qualify for a conventional loan, look no further than Sun Pacific Mortgage. We have been lending to California real estate investors for over 35 years. Give us a call at 707-523-2099 or find us at www.sunpacmortgage.com.


Looking To Get A Refinance Done?

Tough Time Refinancing If You Or Someone You Know Are Having A Tough Time Getting Loan Approval For A Purchase Or Refinance, Don’t Lose That Loan, Give Us A Chance To Help With Our Trusted Private Money Lending Programs – Just Like Was Done Below:Don’t Lose That Loan – Private Money Can Help!

If you or someone you know are having a tough time getting loan approval for a purchase or refinance, don’t lose that loan, give us a chance to help with our trusted Private Money lending programs – just like was done below:

Recently Funded

Program: Investment Property Refinance
Loan Size: 904k
Location: Marin County
Why Came To Us: Self employed with difficult to prove income.

Program: Owner-Occupied Business Purpose Refinance
Loan Size: 720k
Location: Sonoma County
Why Came To Us: Wanted to do business debt consolidation to improve credit, and get extra cash to complete building an ADU behind a rental property, to create additional cash flow.

Program: Primary Residence Bridge Purchase
Loan Size: 642k
Location:  Santa Cruz County
Why Came To Us: Didn’t want to sell current house prior to buying a new home for the family, and couldn’t get a loan elsewhere due to high debt to income ratios.

We have helped many Borrowers get their loan done and funded fast! If you or someone you know are having a tough time getting approval from their Lender – give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com.  We’ll let you know quickly how we can help you not lose out on that refinance or purchase loan.

Retreat of the California Seller’s Market

Buyer'S Market

Real estate agents throughout the California regions are reporting a rapid shift in the market. Six months ago in quarter 2 2022, 95% of agents who were surveyed characterized their market as a seller’s market. In Q3, that number had declined to 51%, and in Q4 it fell to just 30% of agents.

Home Buyers in this wonderful state of California, are beginning to see more favorable conditions when it comes to pricing and competition for homes as the market continues to rebalance. This is in sharp contrast to the hot real estate and lending markets that we witnessed from 2020 to mid-2022, when agents consistently reported a buyer’s market at a rate of only 1%-2%.

An example of this market shift can be found in a study where 64% of agents say that most homes in their market are not getting multiple offers. This is reminiscent of the trend that began in Q3 2022.

Nearly 95% of all agents surveyed reported that the average days on the market for listings in their area is increasing. But because housing is retaining much of the staggering equity gains of the past couple of years, and the increasing interest rates affecting affordability, the situation isn’t a buyer’s paradise yet.

If you are planning to purchase or refinance your home but can’t qualify for a conventional loan, consider a private mortgage from Sun Pacific Mortgage (707-523-2099 – www.sunpacificmortgage.com). We have helped thousands of buyers just like you for the past 35 years with our family-owned company.

This Quick Draw Duo Wrangles In Loans!

April 3 We Have 1 Main Qualification:  At Least 25% Down Payment Or Good Existing Equity.We Wrangle In Those Loans Turned Down Elsewhere!

We have 1 main qualification:  At least 25% down payment or good existing equity.

How about letting us help wrangle in that loan your local Lender has turned down?!  We pay full commission to licensed Brokers as well as can pay referral fees to those who bring a business purpose loan to us that we fund.  See how we were recently able to help the Borrower below:

Loan of the Week

Program: Investment Property Financing
Loan Size: 862k
Days to Fund: 13 days
Location: El Dorado County
Reason Came To Us: A Mortgage Broker contacted us about a Borrower in need of a 860k refinance on his home, but due to poor credit after a difficult divorce and high DTI, he wasn’t qualifying for a conventional loan.  This is where our Quick-Draw Duo wrangled in that loan and within short order, the relieved Borrower and his Mortgage Broker had a completed loan through our family company!

This Quick Draw Due is at your service.  We won’t hesitate to help you or someone you know if we can, so send us your scenario today by email or phone at 707-523-2099, or visit our website at www.sunpacificmortgage.com.

A Look at Northern California Real Estate in April

Genmid.ndp2302742 1 2 Jpg If We Look Specifically At The Sonoma County Real Estate Market From Late 2022 Through Mid-April 2023, We Can See That Buyer Demand Seems To Have Rebounded From The Historic Mid-Winter Doldrums. The Signs That Things Are Looking Up Include The Percentage Of Listings Going Into Contract, Overbidding Picking Up, And The Days On The Market Decreasing.

If we look specifically at the Sonoma County Real Estate market from late 2022 through mid-April 2023, we can see that buyer demand seems to have rebounded from the historic mid-winter doldrums. The signs that things are looking up include the percentage of listings going into contract, overbidding picking up, and the days on the market decreasing.

The median home price in the 10 Northern California counties during the past 4 months through mid-March 2023 are indicative of a robust real estate market:

  • San Mateo County: $1,550,000
  • San Francisco County: $1,400,000
  • Santa Clara County: $1,393,000
  • Marin County: $1,248,500
  • Santa Cruz County: $1,150,000
  • Alameda County: $968,000
  • Sonoma County: $750,000
  • Monterey County: $702,500
  • Contra Costa County: $670,000
  • Solano County: $538,000

We have entered the seasonal period where inventory begins to pick up and some counties are even seeing selling prices exceeding asking prices.

If you need help with a mortgage loan because you need a fast closing or your credit is not up to par, give Sun Pacific Mortgage a call to see if you qualify for a private mortgage from us. You can reach us at 707-523—2099 or find us at www.sunpacmortgage.com.

How To Wrangle that Big and Fast Financing?

Bull Wrangling Get Your Ropes Around That Stubborn Real Estate Loan With Our Direct Private Money Programs!  With Funding Options Up To 1.5 Million, After 35 Years We Still Have Not Run Out Of Money And Are Ready To Quickly Work With You To Get Your Purchase Or Refinance Funded, Just Like Below:Get your ropes around that stubborn real estate loan with our Direct Private Money Programs!  With funding options up to 1.5 million, after 35 years we still have not run out of money and are ready to quickly work with you to get your purchase or refinance funded, just like below:

Recently Funded

Program: Owner-Occupied Bridge Purchase
Loan Size: 1.1 million
Location: Contra Costa County
Why Came To Us: Debt to income ratio high as borrower wanted to buy a new home prior to selling their current house.

Program: Owner-Occupied Business Purpose Refinance
Loan Size: 780k
Location: Marin County
Why Came To Us: Had a bankruptcy on record and wanted to consolidate high-interest business debts to improve credit.

Program: Investment Property Purchase
Loan Size: 780k
Location: Monterey County
Why Came To Us: Property needed some repairs and updates so couldn’t qualify for conventional or traditional financing yet. 

It’s not our first rodeo!  At Sun Pacific Mortgage, we help Borrowers in California finance their real estate needs – fast.  Visit our website at www.sunpacificmortgage.com or give us a call at 707-523-2099 with your scenario to see how we can help you or someone you know wrangle in that loan!

Check Out North Bay Counties Real Estate Values: Past & Present!

Housing2 970X550 1 Wonder How Much Property Increased In The North Bay From Spring 2020 Until Spring 2022? Here Is The Data For Some Of The Cities:

Wonder how much property increased in the North Bay from Spring 2020 until Spring 2022? Here is the data for some of the cities:

Santa Cruz: 58%

Alameda: 46%

Marin: 43%

Contra Costa: 42%

Santa Clara: 39%

San Mateo: 37%

Napa: 37%

Solano: 31%

Sonoma: 30%

San Francisco: 25%

With these figures adding to our property owners’ wealth, the thought of losing 5%-10% of equity shouldn’t be considered a devastating hit. And a 5%-10% decrease in property values is what the experts are predicting. The extreme appreciation that was the norm for the prior couple of years has come to an end and real estate is finding its new normal. We are looking at a more balanced real estate world where the seller is not always “king”, and the buyer does not need to waive inspections and be outbid by a dozen other would-be home-owners.

If you need a FAST financing option or you don’t qualify for a conventional loan with a bank or lending institution, contact Sun Pacific Mortgage at 707-523-2099 to discuss your situation or visit our website at www.sunpacificmortgage.com. We have been helping thousands of borrowers buy and refinance property in California since 1988 with our Private Mortgage alternative programs.

Charging In Faster – Just For You!

7B2196F454820F0356A834B86D045679 For Over 3 Decades Now We Continue To Offer Our Trusted, Fast Alternative Mortgage Financing For Both Real Estate Purchases And Refinances.  Let Us Help You Or Someone You Know By Providing A Fast Loan Solution With Our Private Money Programs, Just Like We Did For The Borrowers Below:Trust This Private Money Duo For Fast Financing

For over 3 decades now we continue to offer our trusted, fast alternative mortgage financing for both real estate purchases and refinances.  Let us help you or someone you know by providing a FAST loan solution with our Private Money programs, just like we did for the Borrowers below:

Recently Funded

Program: Owner-Occupied Bridge Purchase
Loan Size: 540k
Location: Riverside County
Days to Fund: Just 4 days!
Why Came To Us: Wanted fast cash to purchase another house prior to moving out of current home & selling

Program: Owner-Occupied Business Purpose Refinance
Loan Size: 625k
Location: Sacramento County
Days to Fund: 12 days!
Why Came To Us: Self-employed with difficult to prove income and wanted fast cash to buy extra vehicles and equipment for expanding plumbing company.

Program: Investment Property Refinance
Loan Size: 825k
Location: San Diego County
Days to Fund: 13 days!
Why Came To Us: Had some needed repairs to do on property to be able to get it rented for higher monthly returns.

If you or someone you know needs a FAST loan or just falls short of qualifying for conventional financing, our direct Private Money programs could be the solution!

If you have any questions or scenarios, then give the best Private Money Duo a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com today!

Investing in Deeds of Trust Versus Banks

Invest Regulators Seem To Have Helped Avoid A Global Financial Contagion After Recent Bank Crises In The U.s. And Switzerland, But Investors Remain Unconvinced That The Global Economy Is Sound.

Regulators seem to have helped avoid a global financial contagion after recent bank crises in the U.S. and Switzerland, but investors remain unconvinced that the global economy is sound.

With all the unrest in banks and the general economy, investors are once again turning to real estate as a safe haven for their money.  Real estate investments have polled consistently as the safest investment for those intent on growing and preserving their wealth.

A popular investment strategy among many investors has been the private money lending sector, or trust deed investing. With this type of financing, the investor lends a mortgage to an individual allowing he/she to purchase or refinance property.

Among the advantages of trust deed investing, is the passive nature of this investment. The lender becomes the recipient of monthly interest and/or principal payments without the hassle of rental problems.

If the borrowers are thoroughly vetted, as they are with Sun Pacific Mortgage, the negatives are few. And if the investor opts for a servicing company to handle the collection of funds monthly and any legal issues that might arise, the investor can sit back and enjoy the financial benefits of a high interest loan without the problems associated with other real estate investments.

Our investors are the backbone of our business. The appreciation felt is mutual. While we continue to supply them with profitable opportunities to place their finances in safe real estate investments, they continue to grow their wealth and diversify their portfolios.

If you are interested in becoming an Investor through our family owned & operated company of more than 35 years, call us at 707-523-2099 or reach out through our website at www.SunPacificMortgage.com

Go Full Speed – Loan of the Week!

Bucking Horse Promo Update Copy Need Financing For A Home Purchase? How About A Quick Refinance Or To Pull Equity Out Of Your Current Home?  Get Full Speed Ahead With Your Real Estate Plans, Using Our Direct Private Lending Programs!Need financing for a home purchase? How about a quick refinance or to pull equity out of your current home?  Get full speed ahead with your real estate plans, using our direct Private Lending Programs!

Loan of the Week

Program: Investment Property Jumbo Refinance
Loan Size: $1.1 million
Days To Fund: 11 days
Location: Contra Costa County
Reason Came To Us: Broker came to us with a Borrower who wasn’t qualifying for their program due to debt-to-income ratio being too high.  They were looking for some fast refinancing of a Jumbo loan.  We had no problem with this and quickly gathered the needed items, got fast loan approval and the transaction completed within 11 days!

Send us your scenario now or give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com.  Let us help you or someone you know go full speed ahead, with a fast Private Money loan.

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