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Ready To Feel The Need For Speed? Private Financing!

REA JAN week 4Feel The Need…? The Need for Speed!

Us again – dropping into your inbox with FAST mortgage solutions.  If you or someone you know are in the need for speed financing – or you’ve been turned down elsewhere for a refinance or purchase loan – give us a call so we can help you, like we did before.

Here’s some recent Borrowers we helped with our Private Money programs:

Recently Funded Loans

Program: Owner Occupied Refinance
Loan Size: 1.21 million
Location: Sonoma County
Why Came To Us: Borrower wanted to improve their credit and used cash out to consolidate debt before the New Year.  We funded in just 10 days!

Program: Investment Property Purchase
Loan Size: 417k
Location: Monterey County
Why Came To Us:  House needed a new roof and some repairs so we helped get the Hard Money loan done in just 8 days!

Program: Business Purpose Refinance
Loan Size: 987k
Location: Riverside County
Why Came To Us: Needed fast cash-out for an Investment property renovation but had difficulty proving income as self-employed.  We had loan done in 2 weeks!

At Sun Pacific Mortgage we are FAST in getting loans approved and funded.   Visit our website at www.sunpacificmortgage.com or call today at 707-523-2099 to see how we can help you or someone you know get that loan funded FAST.

 

How Is Contra Costa & Santa Clara County Real Estate Looking?

Santa Clara Real Estate

For those of us who benefit from knowing what the real estate markets are doing throughout California, I find this type of information useful.  It’s smart to be up to date with real estate trends, stats and market changes so you can inform potential homebuyers who want to purchase, and better advise borrowers who are looking to refinance.

Following is what the housing markets looked like mid-month, for the Northern Counties of Santa Clara and Contra:

Contra Costa
Median Sales Price: $825,000
Average days on market: 88
Inventory: 762 properties
Price increase: down 2%
Price decrease: down 36%

Santa Clara
Median Sales Price: $1,563,500
Average Days on market: 98
Inventory: 586
Price increase: up 2%
Price decrease: up 31%

The statistics for these two counties exemplify the uniqueness of the housing market by specific areas. Like no two states are alike, not even two counties are alike. It is difficult to generalize the state of the market at any time, but especially in today’s market.  So again, it’s smart to be up to date on these facts & stats, so you can benefit as a Real Estate Agent and licensed Lender or Mortgage Broker.  Let’s help our clients better!

If you or a client are running into tighter lending restrictions and are in need of flexible financing for a purchase or refinance – for anywhere in California – give Sun Pacific Mortgage a call at 707-523-2099 to discuss our Private Money loan programs or visit our website at www.sunpacificmortgage.com.  Our Private Money loans specifically tailored to those who need FAST financing or don’t currently qualify for conventional mortgages.

In Need of Flexible, Friendly Financing? Loan of the Week!

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Are you running into stops or difficulties getting loan approval? You won’t have these stops with us!

At our family owned and operated company, we have helped well over 10,000 Borrowers/Buyers with our trusted and fast Private Money Programs – just like below:

Loan of the Week

Program: Investment Purchase
Loan Size: $720,000
Loan to value: 44%
Location: Sonoma County
Why Came To Us:  Underwriting turned down Borrower at the last minute, due to debt-to-income ratio being too high.  Escrow was supposed to close in just 12 days, but a loan was still needed.  We got right to it with our flexible Private Money programs, resulting in the needed loan and a very happy Borrower because Escrow successfully closed on time!

 

Call Us at 707-523-2099 or visit our website at www.sunpacificmortgage.com to see how we can help you, a friend or family member.

California Real Estate Analytics In A Nutshell

Wine Country Real Estate Trends for January 2022

While interest rates are higher than a year ago, they have steadily been declining since November.  With home prices cooling and market competition easing, some Buyers who missed out on the frenzied market of the last two years are taking advantage and finding sellers more willing to negotiate than in the past.

Looking at the statistics for home prices from top to bottom in California, we can see that is certainly not all gloom and doom:

  • Far North: highest year-over-year drop of 3.7%, with the median price being $366,000
  • San Francisco Bay Area: the highest year-over-year decline of 5.8%, with median price being $1,225,000
  • Central Coast: year-over-year gain of 0.1%, with median price being $900,000
  • Central Valley: year-over-year drop of 1.3%, with median price being $445,000
  • Southern California: year-over-year gain of 0%, with median price being $750,000

According to Zillow, the typical home in Orange County is still above $1,000,000 and overall, prices in Southern California haven’t fallen as much as the median indicates.

San Bernadino County has experienced a 0.5% loss since the peak, while San Diego Couty has experienced a 2.6% drop. It is good to note however, that home prices in every County are higher than they were a year ago.

There are very few analysts who anticipate price declines on a par with those seen during the Great Recession, if any at all. The market remains favorable to house sellers as they remain in control.

If you missed out on the last 2 year’s wild real estate market, this could be your year to win. Need faster or more forgiving real estate loan?  How about calling Sun Pacific Mortgage at 707-523-2099 or get more information about our Private Money purchase and refinance programs on our website: www.SunPacificMortgage.com . Our 35 years of lending and hundreds of Private Investors have the experience to help get you into your dream home, to help you access your equity to buy another property, or build an additional residence on your present property.

Trusted Hard Money Lenders For 35 Years

Jan 2023

We’re continuing the legacy of fast, flexible, friendly and expert Private Money loans for 35 years! We provide:

  • FAST Approvals
  • Primary Residence Financing
  • Financing despite Debt-to-Income Ratios
  • Property Condition Not A Problem

Loan of the Week

Program: Owner-Occupied Rush Refinance
Loan Size: 843k
Loan to value: 51%
Location: Sonoma County
Why Came To Us: Borrower was brought to us because of difficult to prove income. The Borrower wanted to pull cash out of her equity to do some necessary debt consolidation and renovations before the holidays. We had no problems with getting her loan approved and funded by our Private Investor in just 10 days!

 

If you our someone you know needs fast funding or doesn’t qualify at the moment for conventional financing, visit our website at www.sunpacificmortgage.com or call us at 707-523-2099!  We’ll be happy to send a proposal for what we can do to help.

Granny Flats in California are Gaining in Popularity

California Granny Flat

In order to put a dent in California’s housing shortage, state and local lawmakers have eliminated a substantial amount of red tape to allow homeowners to build second residences on a property.

We are seeing reduced building impact fees, reduced parking and setback requirements and the waiver for owner-occupancy on site. All these changes have been made to encourage ADU construction throughout the state to combat the state’s ever growing housing shortage.

Because we have had home construction lagging population growth, California’s Statewide Housing Plan calls for an acceleration of new home construction over the next eight years with a target of 2.5 million homes. This target is broken down as follows:

  • 643,352 very-low-income homes
  • 384,910 low-income homes
  • 420,814 moderate-income homes
  • 1,051,177 above-moderate-income homes

Some roadblocks that have been experienced include restrictions on drilling a new well (Sonoma County) and making your new build all electric (Marin County).  There are still issues with material shortages that make for slow-going in the building process.

Most builders of an ADU would definitely do it again in spite of all the difficulties they experienced in the build.  Roadblocks encountered differ from county to county. For instance, Sonoma County allows you to go right to the county website and choose preapproved plans. Their permitting process is more streamlined because they want more rentals.  In Napa County supervisors launched a $5 million forgivable loan program for residents who build ADUs and rent them below market value. There are other programs in the North Bay Counties that exist to encourage the ADU build out.

If you are considering an ADU for your property and have sufficient equity in your home, you might want to investigate a refinance with extra cash out or even a 2nd mortgage with Sun Pacific Mortgage.  We are a private lender with 35+ years of experience in California real estate lending. We offer fast, flexible and expert alternative financing. Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com.

May your New Year Sparkle Brighter with Private Money

New Years 2023 Ari Ken

Avoid any loan slows or mortgage disapprovals by working with us, to help you or someone you know get a fast Private Money loan that’ll make your New Year sparkle brighter!

Loan of the Week

Program: Primary Residence Rush Refi
Loan Size: $775,000
Loan to value: 57%
Location: Santa Clara County
Why Came To Us:  Mortgage Broker brought us his Borrower as their debt to income ratio was slightly too high, to do the refinance with his conventional programs. This is where our fast, flexible and expert Private Money financing became the answer!  Within 11 days we helped this Broker and Borrower get the loan funded.

 

If you or someone you know need a FAST mortgage or are just fall short of qualifying for a conventional loan, we could help.

Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com to see what we can do help make your New Year sparkle brighter!

California North Bay Counties Yearly Real Estate Values Review

North Bay Counties Yearly Real Estate Values Review

Speaking to reporters in the last quarter, Federal Chairman, Jerome Powell, made it clear that going forward, the U.S. housing market would get “reset” by a “difficult correction.”  We can see that happening in the counties listed below.

This a report based on home and property sales data from the week ending December 28, 2022:

Contra Costa County
Median List Price: $630,000
Average Days on Market: 81
Inventory: 951
Price increase: 4%
Price decrease: 39%

Alameda County
Median List Price: $962,000
Average Days on Market: 85
Inventory: 761
Price increase: 3%
Price decrease: 37%

San Joaquin County
Median List Price: $563,750
Average Days on Market: 86
Inventory: 1016
Price increase: 3%
Price decrease: 47%

Santa Clara County
Median List Price: $1,599,000
Average Days on Market: 90
Inventory: 749
Price increase: 2%
Price decrease: 36%

While some markets may be down double-digits, they are all still well above pre-pandemic home prices. Real estate remains the safest investment by far according to the experts.

If you are looking to invest in real estate this year – by purchasing property or investing in deeds of trust for higher return – Sun Pacific Mortgage has the answer.  Call us at 707-523-2099 or visit our website www.sunpacificmortgage.com to find out more.

Wine Country Real Estate Trends

Sonoma County Real Estate Report for MarchAs you may be aware of, across the country the inventory of homes for sale remain low on a year-over-year basis, as does sales volume. Buyer demand has dropped since rates passed 5.5 percent in mid-September. The news is not too different for the North Bay region, however, it does remain stronger than other real estate markets.

Here are some Housing Market statistics for Marin, Mendocino, Napa, Solano, and Sonoma counties:

  • Inventory of homes & condos at end of November: 2,426 (9% above Nov. 2021; 14% below Oct. 2022)
  • Median sales price: $735,000
  • Price reductions: Napa 33%, Sonoma 40%, Napa 38%
  • Sales more than listing price: Napa 28%, Sonoma 27%

Looking at Sonoma County only:

  • Inventory at the end of November: 617 (9% below Nov. 2021)
  • New sales: 285 (35% lower than Nov. 2021)
  • Average days on the market: 56
  • Median sales price: $803,000 (7% above Nov. 2021)
  • Homes priced above $1 million: 46%

While other “hot” markets are suffering much deeper cuts, the North Bay is slipping only slightly. It is still a good time to invest in California real estate as a Buyer or an Investor. Most experts are predicting at least a 7% increase in appreciation this upcoming year. While it is not the exceptional 15% increase we saw the past couple of years, it is still one of the best wealth sources available to serious Investors looking for a higher return.

With 35 years of experience, Sun Pacific Mortgage continues to offer private money loans and offering Notes for Investors in California. Give us a call at 707-523-2099 if you are interested in becoming a Private Money Lender or find us at www.sunpacmortgage.com.

 

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