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Alternative Financing – Moving Beyond!

January 23, 2020

Promo

In business for 3 decades and moving beyond! 

We are family owned & operated, offering alternative financing for real estate.  And with more than 100 years of combined experience, why not give us the opportunity to provide you with our excellent Hard Money services: 

  • Fast Funding Ability – many done in less than 5 days!
  • Unique Alt-A Hard Money – rates as low as 6%*!
  • We finance anywhere in California – single family, multi-family, condos and business properties.  Primary residences and investment real estate alike!

Call Today 707-523-2099 with any questions or scenarios. We will swiftly let you know how we can help! 

*APR for this rate based on a $200,000 first mortgage is 6.31%. 

Should You Sell or Stay When You Retire?

January 21, 2020

Should You Sell Or Stay When You Retire

One of the major decisions facing the newly retired is what to do with their home.  Some retirees want to downsize so they have fewer maintenance chores, while others can’t imagine living anywhere else.  Still others consider using the equity in their home to buy another smaller home and use their former primary home as a rental.  

Let’s examine some of the reasons for selling…and staying put: 

Influx of Funds:  Given the lack of savings many go into retirement with, selling can offer the funds to offset a lack of retirement savings.

Tax Break:  If you have lived in your home for the last two out of five years, you can exclude $250,000 of the capital gains from the sale of the house if you are single, and $500,00 if you are married.

Eliminating Maintenance Costs:  Do you really need all those rooms and square footage?  Are there stairs that could present a problem as you age?  Remodeling can be expensive.

Buy Your Ideal Home:  Location preferences change once your children are gone.  You may need to be nearer to doctors or want to be closer to your grandchildren.

Staying Put:  Staying in your home may be cheaper in the long run than renting.  Much depends on the amount of equity you have acquired. If the equity is low, you might be better off selling and renting, depending on the rental rates in your area.  On the other hand, if a home is appreciating in value, and you can afford the present mortgage, it might be worth holding on to it.  

Finally, there is the emotional attachment to a home where you raised your children and celebrated family milestones.  These non-financial reasons may be the strongest motivator for staying put.

When it comes to a home, retirement planning depends on your individual and unique financial picture.  The positive aspect of this time in your life is that you often have options you might not have had in your working life.  

Enjoy the freedom, whatever you decide.

Can’t Afford a Professional Stager for Your Home Sale?

January 15, 2020

Can’t Afford A Professional Stager For Your Home Sale

While we have all witnessed the dramatic transformations on HGTV when a home is put on the market, we are pretty sure the price is more than most of us can afford.  So, what can we do to make our listings as attractive as possible without breaking the bank? Here are a couple of tips that might help and save you money, too: 

  • Fluffy white towels:  Bathrooms are the second most important room and selling feature of your home (right after kitchens).  You can freshen up a tired bathroom with a six-pack of premium soft white hand towels for under $15.00 from Walmart (a good place to find staging props).  Roll them up and place them in an attractive basket or simply pile them up on the counter. In the master bath you might want to fold them by the tub to give a spa like feel.
  • Round Accent Mirror:  Mirrors always make a room look larger and they go with any style or age of the home.  Use them above an entryway or hallway table. They make a good filler for an empty wall.
  • Fake plants:  A simple plant, such as a fern, especially one that looks strikingly realistic, can draw a buyer’s attention to a certain area or piece that would otherwise go unnoticed.  Faux plants have come a long way these days. 
  • Flameless candles:  LED flameless pillar candles add a warm glow for less than $20 at Walmart.  Place them on a tray and use them on a coffee table or dining table.
  • Print arts:  A large art print creates a focal point.  Consider packing away all your personal photos a replacing them with a reasonably priced art print (again from Walmart or Pier 1).  If it is the right size for the space, it can add a sleek, modern feel to the room.
  • Colorful pillows:  Every room needs a splash of color and there is no more economical way to provide that touch than a pillow.  These can add a pop of color for under $15.

You can make your listing look like a professional staging job with just a little effort and minimal expense.  Take some tips from the many home shows on HGTV, become your own DIY decorator and very likely capture a higher sales price for your house!

 

Honored To Be A Family Business for 32 Years

January 14, 2020

32Nd Fireworks

And it is clear many Borrowers, referring Realtors, and Brokers are happy we are here too. See below for what they have to say! 

Now into our third decade as licensed Realtors, Lenders and Hard Money Brokers, we have become expert in the alternative financing known as Hard Money or Private Money loans – and we have never run out of money to lend! 

Repeat customers, referred customers, realtors, lenders and brokers, we are privileged to have clients who have been placing their trust in us for the past 30 years and more.  

It’s a trust we could never buy. It is a trust you can count on. 

If you need fast financing or the other lending institutions have turned you down for a real estate loan, give us a call… and let’s get you that money!

Over 3 Decades of Referring Realtors & Mortgage Brokers:

“I appreciate your underwriting efficiency, communication and ability to close within 5 days.  We will surely work together again in the near future.” D.M. – Broker

“What I liked most about working with you was your SPEED. My borrowers/clients were happily satisfied. You are our go-to for Owner Occupied hard money, so I definitely refer you to anyone!” – Bank Manager, E.G. 

“Thank you as well Broker! You have no idea how happy you made this client. Distressed situations are ever easy, but you really did make it as quick and easy as possible. (And this was not an easy transaction so THANK YOU!)  More to come!” – Lender, E.B.

“I have a couple of loans with Sun Pacific and they are doing well. I would recommend them to do business with. I have been a broker for 44 years here in Sonoma County.”
– S.G. Broker

Over 3 Decades of Happy Borrowers:

“Hard Money was the only financing that could help! Click to watch video (link it to this testimonial video: https://youtu.be/ltO_ZF0WJX4 .  

 “[Sun Pacific] team pulled through last minute for us to get us the loan we needed to save our house! From start to finish they made everything smooth and instructions were always clear and answered quickly. We are so grateful to have found them to help us during an otherwise stressful time. Highly recommend!!”  – Cassandra L.

“I was impressed by the tie of speed and service. You jumped on it and didn’t drag your feet like I’ve seen with other companies. The main reason for this loan was to pay off some accumulated unsecured debt. I wanted to get a fresh start…” – Borrower, R.R.

“I very much appreciated the speed of the whole loan process. I wanted a Hard Money loan to combine my existing 1st and 2nd and pay off a bathroom remodel. You are extremely competent – everyone I dealt with through your company up to and including the mobile notary. I really cannot think of anything that you could improve upon!” – Borrower, J.L.

Recently Funded – New Resolution

January 9, 2020

Recently Funded – New Resolution

It’s not just a brand-new year, it’s a brand-new decade.  So how about making this year’s resolutions about your real estate financing be based on proven successes and real testimonials of so many happy borrowers?  

If you, a client or friend need fast financing or were turned down elsewhere, we can help with our Hard Money alternative financing programs. 

Call today 707-523-2099 with your scenario.  We’ll let you know how we can help you accomplish your New Year’s real estate finance resolutions!

Recently Funded Loans

Location:  Tiburon, Marin County
Finance Program: Temporary Refinance for additional business-purpose cash.
Loan Size: $320,000 with 19% LTV
Days To Finish: 20
Why Came To Us: Had poor credit so working to improve this by doing debt consolidation. 

Location:  Los Angeles, LA County
Finance Program: Short term refinance of primary residence
Loan Size: $270,000 with 62% LTV
Days To Finish: 2
Why Came To Us: Self-employed with difficult to prove income. 

Location:  Sacramento, Sacramento County
Finance Program: Primary residence cash-out refinance
Loan Size: $310,000 with 56% LTV
Days To Finish: 12
Why Came To Us: Credit scores were too low for a loan elsewhere. 

Location:  Palm Springs, Riverside County
Finance Program: Non-Owner/Investment Property Cash-Out 
Loan Size: $409,000 with 64% LTV
Days To Finish: 3
Why Came To Us: Needed fast financing to close on an investment deal. 

Looking to Improve Your Home’s Value?

January 7, 2020

Looking To Improve Your Home’s Value

Are your toying with the idea of selling or staying in your home?  Whatever you decide, increasing the value of your home is a win-win.  Some improvements you can make will add to the beauty of your home, while others will make it more efficient or more comfortable.  Whether you want to build equity in your home or sell it for top dollar, there are plenty of home improvement projects that are worth considering.

  • CLEAN AND DECLUTTER:  Deep cleaning and decluttering can add as much as $4000 to your resale value according to a 2019 survey from HomeLight.  Even if you are not moving, this exercise will help decrease stress in your life by providing more organization and simplifying your life.
  • MAKE YOUR HOME MORE EFFICIENT:  An inexpensive way to improve efficiency and save money is to install a smart thermostat.  If you are tech-savvy, you can even control your home’s temperature from your phone while you are away.
  • FRESH PAINT AND FLOORING:  An inexpensive way to update and freshen up your interior and exterior is with a coat of paint.  Everyone loves newer carpeting and fresh paint. Most home buyers are looking for a turnkey home so they can just unpack their boxes and settle in without the hassle of renovating.  And if you are staying in your home, these simple upgrades will make you love your home even more!
  • UPGRADE DOORS:  Replacing your front door will do wonders to the overall curb appeal of your home.  Replacing interior doors or just painting and replacing the hinges and doorknobs can add freshness to your home.  Since the front of your home is the first thing a prospective buyer will notice, a new garage door is a great idea.  Garage doors take up the most amount of space on the front of your home, so installing an interesting take of the usual garage door could bring in more buyers and please your neighbors, too.
  • ADDING USUABLE SQUARE FOOTAGE:  This makes a lot of financial sense since the value of your home is based on livable square feet.  Adding a bathroom, a great room or an additional bedroom can greatly increase both the function and value.   A “Granny Unit” is another valuable addition that can become a possible income source as well as add value.

Your next question may be “How will I finance these home improvements?” 

One of the financing options available to homeowners who want a fast cash, have less than stellar credit or difficulty proving income, is a Hard Money loan – also known as Private Money and Alternative Financing.

Sun Pacific Mortgage has been coming to the aid of this demographic for over 3 decades.  We have helped thousands of clients who would otherwise have been left without the means to make improvements or to invest in real estate.  If you are interested in pursuing a loan from us, please give us a call at 707-523-2099 or check us out on our website at www.Sunpacificmortgage.com. 

See entire article:  https://www.bankrate.com/loans/home-improvement/cheap-fixes-to-boost-the-value-of-your-home/?utm_source=Pushly

Loan of the Week – Start 2020 Off Right!

January 2, 2020

Happy New Year Right

Start the Year RIGHT By Getting Loan Approval!

Wouldn’t it be great to start the year off right with “LOAN APPROVED”?  We can make that happen!

For over 3 decades now we continue to offer our trusty alternative finance programs for both real estate purchase and refinances.  Let us help you and/or your client today, by providing FAST loan approval with one of our Hard Money programs. 

 

Holiday Loan of the Week

A Mortgage Broker called us for help with one of his borrowers, as he was having difficulty with his Underwriters who weren’t approving the needed cash-out. This borrower owned his home free and clear in Contra Costa County, but due to a divorce  the past year, his credit had some issues which weren’t being cleared up quick enough. 

The borrower needed some fast cash to help pay off some urgent bills as well as help close on another real estate business transaction.  He could no longer wait for the current conventional Underwriting, but needed fast help with a $350,000 Hard Money loan at a low 26% loan to value. 

This is where we stepped in and within just a few days, the relieved homeowner and his Mortgage Broker heard the merry phrase “loan approved!”.  And just about 5 days later, the borrower had cash in hand. 

Call us at 707-523-2099 with any questions or scenarios.  We’ll help you and/or your client start the year off great by getting that awaited “loan approved”!

Recently Funded – Make it an Alt-A Christmas!

December 19, 2019

Christmas Promo 1

We hope to make your holidays brighter by offering up our uniquely fast, smooth and lower-rate alternative financing program for your real estate needs. 

Let’s make it the best Alt-A Christmas ever! 

– We provide FAST Closing – have your loan done before the holidays!
– In business 3 decades – almost as long as Santa.
– We are family owned and operated – with over 10,000 happy borrowers!
– Lower Hard Money rates – as low as 6%*.

Call today 707-523-2099, we’ll let you know quickly how we can help make your holidays brighter!

Recently Funded Loans

Location:  Santa Rosa, Sonoma County 
Loan Program: Investment Property Refinance
Loan Size: $550,000 with 68% LTV
Why Came To Sun Pacific: Having difficulty getting financing elsewhere due to “owning too many properties” and debt to income ratio. 
Days To Finish: 12

Location:  Bell, Los Angeles County
Loan Size: $409,000 with 64% LTV
Loan Program: Business Purpose Refinance of Investment Property
Why Came To Sun Pacific: Poor credit so wanted to consolidate business debt and personal high-cost credit cards. 
Days To Finish: 14

Location:  Walnut Creek, Contra Costa County
Loan Program: Temporary Refinance of Primary Residence 
Loan Size: $350,000 with 26% LTV
Why Came To Sun Pacific: Credit wasn’t good enough due to recent divorce but needed fast cash. 
Days To Finish: 13

Location:  San Diego, San Diego County
Loan Size: $320,000 with 70% LTV
Loan Program: Temporary Refinance on Primary Residence
Why Came To Sun Pacific: Self-employed with difficult to prove income. 
Days To Finish: 9

 

*APR for this rate based on a $200,000 first mortgage is 6.31%. 

State of the Market – San Francisco & Peninsula

December 17, 2019

State Of The Market San Francisco Peninsula

December 2019

Average sale price for a Single Family Home in San Francisco in November 2019 was $1,995,413 vs 

October of 2019 – $1,928,523. Average selling PRICE per SQFT $1,033.28. Avg Days on Market 24.

Average for Single Family House being Sold in San Francisco in November
Listing Price $1,849,328
Listing Price Per Sq. Ft. $937.95.
Selling Price $1,995,413
Selling Price Per Sq. Ft. $1,033.28

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in November 2019 was $1,330,776 vs October of 2019 – $1,446,538. Average selling PRICE per SQFT $1,085.09. Avg Days on Market 33.

Average sale price for 2-4 Units in San Francisco in November 2019 was $2,104,121 vs October of 2019 – $2,420,603. Average selling PRICE per SQFT $725. Avg Days on Market 45.

Average sale price for 5+ units in San Francisco in November 2019 was $5,306,500 vs October of 2019 – $4,284,333. Average selling PRICE per SQFT $507. Avg Days on Market 65.

Inventory of properties for sale in San Francisco as of December 13, 2019 = 685
Single-Family Homes = 154
Condo/Coop/TIC/Loft = 389
2-4 Units = 114
5+ units = 28

Average Single Family House being listed for sale in San Francisco today – Dec 13th 2019
Bedrooms 4
Baths 3.16
Square Feet 2947
Lot Size 0.07
Listing Price $4,045,895
Listing Price Per Sq. Ft. $1,084.75

All the properties Sold in November 2019 – 498.

There is currently LESS than 1,5 month worth of inventory, meaning if there was not another home listed, it would take just about one and half month for all the current homes on the market to sell.
Once we reach 6 months of inventory, the market will turn to a Buyer market.

Out of 197 Single Family Houses sold in San Francisco in November of 2019,
31 sold below asking price,
14 for asking price and
152 sold for over asking price.
4 for over $500,000,
1 for over $600,000,
1 for over $700,000,
1 for over $800,000,

Example of property sold over asking.
231 Waller St San Francisco CA 94123
6 – Hayes Valley
3 bed
2 batt
1920 built
2535 sqft
3207 sqft Lot Size
List price – $2,395,000
Sold Price – $3,210,000
Difference- $815,000

San Francisco Home
Pending as of today December 2019
San Francisco County 120 (all properties)
San Mateo County 297 (Single Family/Condo/Townhouses)
Santa Clara County 673 (Single Family/Condo/Townhouses)

December 2019 Peninsula/Silicon Valley Market Update
In Menlo Park, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 33 days vs 23 days one month prior with the average sale price $2,851,403.00 (in October was $2,679,510.00. Price Received was 3% MORE than an asking price.

In Foster City, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 13 days vs 19 days one month before with the average sale price $1,624,400.00 (in October was $1,742,000.00). Price Received was 4% MORE than an asking price.

In Belmont, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 17 days with the average sale price $1,797,134.00 (in October was $1,989,213.000). Price Received was 1% MORE than asking price.

In San Carlos, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 19 days with the average sale price $2,107,629.00 (in October was $2,040,402.00. Price Received was 1% MORE than asking price.

In San Mateo, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 24 days with the average sale price $1,567,243.00 (in October was $1,662,157.00. Price Received was 4% MORE than asking price.

In Burlingame, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 19 days with the average sale price $2,401,875.00 (in October was $2,382,800.00). Price Received was THE SAME as asking price.

If you were thinking of selling your home in the near future, now is the time to do so to get the top dollar for your home before the market has a chance to turn.

Reminder: As you know that I am in real estate sales and my passion is to bring buyers/sellers together.
Who have you talked to in past couple days that might be thinking about buying/selling in San Francisco and/or in Silicon Valley or anywhere in the US/Canada (I am blessed to be a part of a huge network that I meet/talk-to on regular basis which is the backbone of my business that my clients benefit from).

Shared by,

Valeriy Krysov, REALTOR®
Real Estate Broker
CalBRE Lic #01847176
Ph: (415) 385-8949
RealtyFinancial.com

Loan of the Week – 2nd Generation Strong

December 12, 2019

2Nd Generation Hard Money Lenders

You and/or your clients will have no doubts or reservations when working with our family owned & operated company to get alternative financing, also known as Hard Money:

  • Trusted by more than 10,000 borrowers after more than 3 decades in business!
  • You won’t need to wonder if we can get you fast financing – we’ve funded many in less than 5 days!
  • Don’t worry about being turned down at the last moment – we finance difficult-to-prove income, property condition, poor FICO issues and even fund jumbo size loans!

Loan of the Week

A Homeowner called us up with an urgent request to pull cash out of her property, located in Sonoma County.  She was self-employed with difficult to prove income and didn’t want to chance using another lending institution due to time constraints on a business deal she was trying to complete.

We quickly confirmed the property value and gathered the needed documentation.  With a 36% loan to value, her requested $360,000 loan was approved within just a few days and once all was said and done, she had cash in hand in just under 2 weeks!

Let us know if you have any questions or scenarios, by calling us at 707-523-2099. We will quickly reply with how we can help.

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