Lack of inventory has been the one constant throughout the real estate market for the past several years.  Depending on whether you are a buyer or seller, this will be a significant factor in how you deal with the process.

If you’re a buyer, it may take time to find the right home for you.  Be patient.  Once you do find your dream home, be ready to move quickly.  Get pre-approved for a mortgage, make a competitive offer, and prepare for a possible bidding war.  Know just how far you can safely go to secure a home and trust your real estate agent to have knowledge you might not have.  Also, consult with your local lender and determine the max amount you could afford for a purchase.

If you’re a seller, know that you are, in some ways, in the driver’s seat.  With the shortage of inventory, you are in a good position to negotiate the best possible terms.  You have the advantage of determining price, moving date, possible repairs, or anything else with the potential buyer.  Don’t be unreasonable but understand that you probably have the upper hand.

According to the experts, real estate will remain a strong factor in the economic climate going into 2021 and 2022.  If you are hampered by challenging circumstances, such as difficult to prove income, weak FICO scores, or are just in a hurry to close a deal, give Sun Pacific Mortgage a call at 707-523-2099.  We specialize in private lending mortgages for precisely these situations.

To many a naysayer’s surprise, the 2020 real estate market boomed.  Prices rose, sales increased, and investors continued to grow their wealth.  In a recent article I found in Realtor Magazine, Lawrence Yun, Chief Economist at NAR, stated that even as early as August, 6 million existing and new home sales were recorded in the United States.  From our own data reports on various counties in California, we have seen exponential sales growth from San Diego to Mendocino and beyond.

Just looking at San Francisco County for December, we find double the number of properties listed since 2019.  In addition, more than half the single-family homes sold last month closed well over asking price.  With inventory remaining low for the foreseeable future, prices should continue to rise ensuring a healthy accumulation of investors’ wealth.

We have found similar data in December for the San Francisco Peninsula where homes only stayed on the market anywhere from 18-38 days and prices rose again month-to-month.

In Orange County September sales of existing single-family homes was up 30.6% over last year and the median price rose 10.8%.

In Los Angeles County for the month of September the median sales price increased 5.7% over 2019.  In Marin County, Napa County and Sonoma County for November the data was even more encouraging.

At Sun Pacific Mortgage we see investors more eager than ever to supply private money to borrowers seeking a loan.  And why not?  Surely real estate has proven to be the best long-term (and even short-term) investment for many portfolios. A trust deed investment means that you are not involved in the day-to-day operations of your property with all the headaches that can bring.

Unlike the stock market where you are never certain where your capital is from day to day, real estate has proven over the decades to be a solid investment, and remember, it is the only one you can live in!

So give us a call at 707-523-2099 or reach us through our website at www.Sunpacificmortgage.com.  We’ll be happy to explain how we work and how you could start earning greater returns on your investments.

For a variety of reasons, the predicted recession of 2020 never affected the real estate market segment anywhere in the United States, but particularly in California.

Back in March there was much “gloom and doom” with a tsunami of foreclosures expected as we sheltered in place.  Instead, a housing boom has emerged in many of the top counties of California including Sonoma County, San Francisco and the Peninsula areas of San Mateo & Santa Clara Counties.  All with appreciation exploding and homes being swept up in record time!  You just need to ask a homebuyer from this past year how easy it was to find and procure a home, given the stiff competition and lack of inventory.

We have definitely seen a V-shaped recovery in the real estate market as opposed to the other shaped recoveries, i.e., U-shaped, W-shaped, and    L-shaped.   Even early in the pandemic, the WSJ polled its economists and found that 68% predicted a V-shaped recovery for real estate.  Nevertheless, some naysayers persisted in believing and predicting a real estate crash akin to the last one.  And yet August sales for both existing and new homes hit their highest mark since 2006.

This winter, when we generally expect to see a slowdown in real estate sales given the holidays and bad weather, instead we saw an increase of 30% in mortgage applications for home purchases.  Also surprising was the increase of 11.4% in home values nationwide and an even greater increase in California.

While the stock market has seemed like a dizzying rollercoaster ride this past year, the real estate market has had a steady ascent.  Investors looking for a haven for their wealth, have turned to the real estate market in greater numbers than ever.

If you have ever thought about adding real estate to your retirement portfolio, this may be the ideal time to do it. Want more than 7-9% return on your investments? Deeds of Trust can help you achieve this!

Give us a call at 707-523-2099 to become one of our trusted private money investors.  It’s a great way to expand your wealth in property and become a land baron without the hassle of being a landlord/landlady.  We have 3 decades of experience as a family-owned-and-operated private money broker while maintaining a sterling reputation with buyers and investors alike.

Recession?  What recession?  This word has alluded the real estate market since early spring.  We have only to look at December’s North Bay market numbers to see that there has been little to no effect on the real estate segment in Sonoma, Marin, and Napa Counties.  Here is proof based on data points from the North Bay MLS as it relates to single family homes:

SONOMA COUNTY:

• Sold:  355 (up 35% from 2019)
• New Listings:  179
• Closed Escrows:  421 (up 31% from 2019)
• Remaining listings December 31:  500 (down 22% from 2019)

MARIN COUNTY:

• Sold:  146 (up 68% from 2019)
• New Listings:  57
• Closed Escrows:  238 (up 35% from 2019)
• Remaining listings December 31: 154

NAPA COUNTY:

• Sold:  79
• New Listings:  38 (down 22% from 2019)
• Closed Escrows:  128 (up 42% from 2019)
• Remaining listings December 31: 183

These statistics would seem to confirm the trend toward deurbanization that we have witnesses since the spring this year.  More homeowners in the core Bay Area metropolises are seeking space and homes that allow for work-at-home and remote schooling.   Add to this wish list the desire for more outdoor space and you have the directions to the North Bay real estate market.

If you are thinking of making a move anywhere in California, but cannot qualify for a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099.  We have helped thousands of folks just like you over the past three decades to obtain private money loans and land their dream homes.