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Are We Looking at a Change In California Real Estate?

January 3, 2019

Are We Looking At A Change Ca Real Estate

When we review the real estate market over the past couple of months, more than a quarter of listed homes has had a price drop according to Redfin.  Additionally, the supply of homes has increased for the first time in three years according to the National Association of Realtors. There has been a market shift, especially in California.  

Median home prices remain in the higher ranges for the time being, though. Even in Silicon Valley inventory is increasing and sales are slowing.  Where a seller could expect 15-20 offers, the odds are that it will take longer to sell today, and the seller might receive only four to five offers.  

Another issue influencing the real estate market in California has been the lack of single-family construction.  There have been recent gains though in this arena with new construction increasing 16% over last year.

All these factors mentioned above bode well for Buyers in today’s market: You may not need to scramble as much to obtain your dream home, but on the other hand, you may not be able to sell your present home as quickly.  That’s where a Bridge Loan from Sun Pacific Mortgage comes to the rescue!

Bridge loans allow you to purchase your new home before selling the present one, and this is just one of the many lending programs you will find that we offer.  

So, give us a call at 707-523-2099 and see what we can do for you in this ever-changing world of real estate.

Wrap Up A Great Holiday With Hard Money

December 20, 2018

Wrap Up Holidays With Hard Money

Just 2 more weeks until the end of the year!   Time to buy those last-minute gifts, move into your new home, or complete that refinance so you will have extra cash for this time of year. Let our Hard Money loan programs help you wrap up a great Holiday!

We finance Jumbo Loans; We fund FAST; FICO scores are not a determining factor; We can provide speed & flexibility for all your refinancing and purchasing needs.

Call us at (707) 523-2099, we want to help you wrap up a great Holiday season!

 

Recently Funded

We Finance Single Family Houses, Condos, Principal Residences
+ Multi-Family Units, Commercial & Office

$805,000 – Commercial Refinance
59% Loan to value
San Fernando, LA County

$300,000 – Temporary Purchase
75% Loan to value
Santa Rosa, Sonoma County

$550,000 – Temporary Refinance
41% Loan to value
San Jose, Santa Clara County

$580,000 – Business Purpose Refinance Non-Owner
41% Loan to value
Los Angeles, LA County

Is it Still a Seller’s Market?

December 19, 2018

Is It Still A Seller’s Market

Looking at the real estate market today can be very confusing.  Some experts would have you believe that we have left the “Seller’s Market” behind and have skipped right over to a “Buyer’s Market”.  Not so fast! If we examine some of the statistics related to the Bay Area, we find that there remains only a 2 month inventory of homes on the market.  That is the very definition of a “Seller’s Market”.

The one thing experts do agree on is that It requires 6 months of inventory to become a “Buyer’s Market”.  Other statistics that confirm the “Seller’s Market” label include the number of days on the market, price decreases, and sales over asking price.  As an example of these criteria, let’s look at one of the Peninsula cities, Burlingame. Days of the market averaged 27, average sales price was $2,537,578 (in October was $2,556,152), price received was 5% more than asking.

These numbers are typical of the what we find in San Francisco and the rest of the Peninsula.    From 551 active residential properties on the market in San Mateo County, 29% of properties had price decreases and 32% properties were on the market 60+ days.  While we aren’t seeing the wild and crazy days of the recent past, we could be on a slow climb out of the present market and into a Buyer’s Market.

Bottom line?  If you have been thinking of selling your home, now is the time to do so to get top dollar and find your next new home.  Looking for financing and don’t qualify for a conventional loan, look no further than Sun Pacific Mortgage. We are here to offer you a Hard Money Loan, which will allow you to get into your next home quickly with a minimum of stress.  Give us a call at 707-523-2099 and see how we can help you!

Holiday Loan Superheroes – Just For You!

December 13, 2018

Holiday Loan Superheroes Just For You

“I was referred this loan from a colleague in my office. These people sold their home and were living in a hotel. They depended on me to get this done and because I knew you could and would do it, they now have a way to close escrow on their new home!

Even though the rate and term are hard money, they are paying less than their previous home loan! I have set them up with the credit repair company and will follow up with them to assure we can help them with permanent financing. They are happy customers! Thanks.” Broker, J.F.

 

Fast Hard Money Financing Before The Holidays

– We are fast; Many loans approved and funded in less than 1 week.

– Get financing for jumbo loans, up to 2million+.

– Just two main qualifications:

    1. A decent down payment or good existing equity.

    2. An ability to repay the loan.

Tis the season to spend time with your family and friends, not worry about a house or finances.  Call us today at 707-523-2099 or reply by email to get a fast Hard Money loan, so you can kick back and enjoy the holidays!

Selling Your Home in Today’s Market

December 10, 2018

Selling Home In Todays Market

It is never a fun adventure to sell your home, especially while you’re still living in it.  And in today’s market, where multiple offers are not the norm they once were, it is even more important to observe some basic rules.

Keep your home pristine!  Not just “picked up”, but sparkly clean.  It should look like a model home where no one lives.  I know this is well-nigh impossible, especially with kids in the house, but it’s worth some effort.

Pay attention to your yard.  There should be no leaves, no weeds, and no spider webs in the corner of the porch or patio.  Spruce it up with some colorful plantings, even in the winter.

Leave when you have showings.  That means pack up the kids and pets and just drive around, if that is what it takes to clear out of the house.  There are legitimately people who are allergic to or fearful of dogs or cats and may not even enter the property if they are present, so it is important to take them with you.  Otherwise, you may lose a potential buyer!

You may get a ridiculous offer.  Don’t be tempted to give away the farm to clinch the deal.  Remember you’re just selling your house. Be open to negotiating, but don’t allow desperation to cloud your judgement.

These ideas are meant to make selling your home an easier process, one as painless and as fast as possible while still getting the most money for your house.

If you are not working with a licensed Realtor, contact one from a local real estate company.  And if you are considering buying another home in California, then contact a licensed and experienced Lender who can help you take advantage of any existing home equity to purchase another home prior to selling your current house.  This could be beneficial to you and your family.

Good luck to you!

Make Your Holiday Happier With Hard Money

December 6, 2018

Make Your Holiday Happier With Hard Money

The Holiday season is fast approaching.  Why not make it happier for yourself and a Home Buyer/Borrower, by taking advantage of the many benefits of a Hard Money loan:

– We can finance FAST. Many approved & funded in less than a week!

– FICO scores not a determining factor.  Get a loan despite poor credit!

– Considered “all cash”, making for better purchase offers!

– Hard Money provides speed & flexibility for all refinancing and purchases!

Let us help make this Holiday extra special with fast loan approval.  Call us at (707) 523-2099 with your questions and scenarios.  We want you happy for the Holidays!

 

Recently Funded

Our Average Is 18 Days To Completion!

We Finance Single Family Houses, Condos, Principal Residences

+ Multi-Family Units, Commercial & Office

$690,000 – Non-Owner Purchase
53% Loan to value
Petaluma, Sonoma County

$1,500,000 – Consumer Temporary Refinance
49% Loan to value
San Rafael, Marin County

$320,000 – Non-Owner Purchase
61% Loan to value
Brentwood, Contra Costa County

$1,000,000 – Refinance Business Purpose
Healdsburg, Sonoma County
44% Loan to value

We Won’t “Leaf” You Hanging with Hard Money Loans!

November 28, 2018

Fast Hard Money Loan Approval When Turned Down Elsewhere

“[The Sun Pacific Team] pulled through last minute for us to get 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!!” – C.L.

Fast Approval When Turned Down Elsewhere

Local Mortgage Broker:  Hi. I have been trying for almost a month now to get my borrower’s loan through our Underwriters, and time is up for her.  She is about 7 months shy of having her credit good enough for a home refinance. The loan amount is $540,000 with a 65% loan to value.  Can you help?

Us: Yes, we can. Send us her loan application and we’ll get right onto it.

Within 48 hours we had loan approval, a very relieved borrower, and a happy Broker.

Call Us today at 707-523-2099.  We are fast and won’t “leaf” you hanging, wondering if you have loan approval or not!

No Loan Fumbles With Hard Money!

November 19, 2018

No Loan Fumbles With Hard Money!

You will never fumble if you take advantage of our Hard Money programs!

There are very few Hard Money companies that do Owner Occupied, both Business and Consumer Purpose loans, but we do. The distinction between these programs is based on Federal and State guidelines. We provide 2 different programs for business purpose and consumer purpose loans on Owner Occupied properties: A 12-month short term or a 15-year long term.  The short term is for Borrowers who have an exit strategy within the 12-month term and long term if there is no such strategy.  See below for examples such of loans recently funded through our office.

Let us help make a touchdown for you and your borrower with fast loan approval, for those loans that might be fumbling!  Call us at (707) 523-2099 with your questions and scenarios.

 

Recently Funded – 18 Days Average To Completion

We Finance Single Family Houses, Condos, Principal Residences

+ Multi-Family Units, Commercial & Office

$540,000 – Santa Rosa, Sonoma County
70% Loan to value
Refinance Consumer Purpose

$2,541,000 – Oceanside, San Diego County
64% Loan to value
Refinance Business Purpose

$1,750,000 – Saint Helena, Napa County
63% Loan to value
Refinance Business Purpose

$341,000 – Cazadero, Sonoma County
55% Loan to value
Refinance Consumer Purpose

Where Is The Real Estate Market Headed?

November 14, 2018

Where Is The Real Estate Market Headed

What’s one to believe about the real estate market today?  There are so many conflicting headlines that even the savviest investor is confused.  Let’s look at some hard statistics which may enable us to come to our own rational conclusions:

We know home prices have appreciated year-over-year for the past 76 straight months.  Does this mean we are on the edge of another housing bubble? Not if the lack of homes for sale persists.  Demand is strong as many renters have experienced when they start to look for their dream home. There hasn’t been the stabilizing 6-month backlog of housing inventory in over 5 years, which has kept prices up while inventory has been down.

What about pricing and appreciation?  Certainly, home prices have appreciated over the last 76 months, driven mainly by supply and demand.  This has affected the starter-home market more than any other because of the increased competition for these homes. Senior Economist, Aaron Terrazas wrote on Zillow that “home values are still expected to appreciate at double their historic rate over the next 12 months”.  This wouldn’t appear to herald a real estate crash any time soon.  

Those who have been in real estate for as long as we have can all agree on the fact that real estate ebbs & flows.  Keeping abreast of the market in your area is what is important, so you can decide if the price is right to buy now or if you make an offer slightly under asking to still get an accepted offer.  What about listing your home and for what price? These are questions to be posed to licensed and experienced Realtors who know the market and have your best interests in mind.

Here’s to making the real estate market work for you!

To read full article:  https://www.keepingcurrentmatters.com/2018/08/29/top-3-myths-about-todays-real-estate-market/

Recently Funded Fast – Guardians

November 8, 2018

Guardians Of Fast Hard Money!Guardians of FAST Hard Money!

Why are we considered the true guardians of getting Hard Money loans done FAST?  Maybe it’s because we can complete these loans with an 18 day average and have been doing it for 30 years!

One of our most popular programs is the Bridge Loan – for purchases and refinances.  With this loan you can close or fund quickly, because the requirements are fewer than with other loans. The primary concern is equity, which must be 70% to secure the loan.

See below for recently funded Bridge loans through our office.  And call (707) 523-2099 and let us be the guardians of your loan scenario, so it gets approved fast!

Recently Funded Bridge Loans – All Completed In 1- 3 Weeks!

We Finance Single Family Houses, Condos, Principal Residences

+ Multi-Family Units, Commercial & Office

$540,000 – Santa Rosa, Sonoma County
70% Loan to value
Needed our help as had a very short close date.

$559,000 – Santee, San Diego County
70% Loan to value
Needed our help due to FICO issues.

$514,000 – Santa Rosa, Sonoma County
65% Loan to value
Needed our help due to difficult-to-prove income.

$650,000 – West Hills, Los Angeles County
65% Loan to value
Needed our help due to property condition.

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