What’s New in Home Design for 2019?

February 12, 2019 Broker

What’s New In Home Design For 2019

A recent article based on the remodeling and design platform, Houzz, forecast some trends to look for in the coming year. With HGTV shows continuing to capture our imaginations and wallets, we might want to know that we are in step with the design world.

Here are some examples of the forecasted changes:

Full-height backsplashes extending all the way to the ceiling behind open shelving and range hoods is one of the newer concepts being adopted in kitchen design.
Although Living Coral was chosen to be Pantone’s color of the year, the experts see moodier colors, like navy and forest green, as the shade of choice for homeowners. People are becoming more comfortable experimenting with rich or darker colors.
Open spa-like bathrooms are making up 80% of the remodels according to Houzz. Soaking tubs was the most popular option even if it meant stealing space from the closet or bedroom.
Moving from white to black kitchens is another popular choice for 2019. White kitchens have made it difficult to keep clean if you have children and/or dogs, so remodelers are opting for the “tuxedo” kitchen with contrasting black cabinets and white walls.
Free-standing padded dining benches have replaced the built-in, more expensive benches of the past. These new benches can provide flexible seating and hidden storage.
A four-wall accent color is replacing the bold-colored feature wall. It even includes the trim and molding. This trend seems to be happening in smaller rooms, like a bedroom, study or media room.

These six examples of home remodeling choices are some of the possible options you may want to experiment with in the new year. If you need funds to finance your DIY efforts, and if you do not qualify for a conventional loan, Sun Pacific Mortgage is here with a Hard Money loan to support your artistic endeavors.

Winter Brings Out The Serious Buyers

January 22, 2019 Owner

Winter Brings Out The Serious Buyers

If someone is out looking for homes in the winter season, it is usually a sign that they mean business. So how do you, as the Seller, take advantage of this available market?

Start by making sure that the exterior of you home is as warm and inviting as the interior. Bare trees make for a more exposed home, so freshen up the outside of your home by keeping the gutters clean and sprucing up the yard. Keep those leaves raked and the lawn alive.

Price your home to sell. Rather than gradually making small price reductions, which could make you look desperate, get with your local & experienced Realtor and properly price your home before you list. This strategy encourages multiple offers! It’s far better to have your buyers competing over your property than having you going back-and-forth over the purchase price, with your prospective buyer.

Remove most or all (if possible) of your personal décor. Staging is one time when the maxim “less is more” should be the watch word. If your living room area is a small space, arrange your furniture so that there is ample room to maneuver through and around the room. Group your furniture into conversational zones to make your home feel cozy and inviting. Don’t be stingy with the heat during showings. A warm, pleasant smelling house can go a long way toward influencing your prospective buyers. Crank up the heat, bake some yummy cookies, play soft music, burn scented candles, etc. to set an ambiance that makes your buyer want to move in.

As “Winter Sellers” you enjoy an enthusiastic audience with “Winter Buyers”. These prospective clients would not be trudging around in the rain, cold and wind if they were not ready and willing to make an offer on the right property! Make your home the property they want by listing now and following the suggestions above on presenting your home in the best possible winter light.

Hope this helps get you that fast sale!

Is it Still a Seller’s Market?

December 19, 2018 Owner

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!

Selling Your Home in Today’s Market

December 10, 2018 Broker

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!

The Good, The Bad, And The Ugly Of Marble Countertops

November 7, 2018 Owner

The Good The Bad And The Ugly Of Marble Countertops

When building or remodeling, owners are faced with a myriad of confusing choices, not the least of which is what material to use for their kitchen counters. Among the many preferred options are: granite, solid surface material, butcher block, concrete, and marble, specifically Carrara marble.

Marble is gorgeous both from a distance and up close, but unless you are familiar with and ready to maintain it, it also has some drawbacks. Let’s examine a few:

It won’t stay pristine for long: Marble is easily scratched and stained. You can’t chop vegetables directly on it as acidic liquids will stain the surface permanently. Marble is more porous than natural stones or solid concrete.
It can be seriously tricky to clean: Acidic liquids of any kind, including organic cleaning products, are bad for marble. Cleaning requires a special kind of cleaner which can cost at least $10 for 16 ounces.
It requires extra work to protect it: A seal can help protect your countertops, but it requires regular maintenance. The recommended resealing process is every 3 – 6 months to maintain the luster and prevent staining.
It can be bad for resale: In five to ten years this product is likely to look very different and be less appealing to a prospective buyer than any other stones, which may age better with less maintenance.

Some lifestyles present additional reasons to resist the urge to install marble, for instance: if you use the kitchen heavily, if you have children who will be eating or playing on the surface, or if you don’t have the interest/time for the maintenance it requires.

If you are a fan of HGTV shows, you would think that Carrara is the “go-to” for every project, and they do look beautiful when they are first installed. What you don’t get a chance to view is what Carrara looks like after the family has lived in the house for any length of time. With all the other options out there, maybe foregoing Carrara isn’t such a difficult decision.

The moral of this article is: Study up on your preferred material for countertops before you buy them. You want to make sure you’ll be happy with it for years to come, as it is your home!

If you’re doing renovations or interested in alternative financing for your home or rental, call us today (707) 523-2099!

Why Should I Sell My Home This Fall?

October 9, 2018 Broker

Autumn Home For Sale

There are probably a myriad of reasons to sell this Fall, but let’s look at just a few:

For starters, Buyer demand is still strong. While the mad, competitive scene has waned (thankfully!), last month listings averaged only 29 days on the market according to NAR. Although the housing inventory is still less than 6 months (which is considered “normal”), it appears that we are slowly moving toward normalcy in the real estate market. This means we will no longer be in a buyers’ market (like 2007-Feb.2012) or a sellers’ market (like Mar.2012-present). The experts see the housing market returning to a healthier state for seller and buyer by the end of next year.

What about pricing? According to Core Logic, housing prices are expected to rise 5.1% next year. As a result, if you wait, you will end up paying more for a down payment, and your mortgage payments may likely increase. Because of the persistent inventory shortage, prices should continue to rise to above-normal levels for the next year. On the bright side, both existing and new construction permits have increased over the past two months, and these factors will help make a more balanced market in the future.

If you do not qualify for a conventional loan this Fall, Sun Pacific Mortgage is here with a lending program for you. Whether you need a bridge loan to help with a new purchase before your present home sells, or you just want a hard money 1st, we will find a satisfactory solution for you. Give us a call at 707-523-2099 and see what we can do for you!

Superheroes Fund Not-Normal Loans

July 11, 2017 Owner

Superhero Men Our “Not-Normal Loans” Have Just 2 Main Qualifications:

Our “not-normal loans” have just 2 main qualifications:

Decent existing equity or at least 25% down payment.
An ability to repay the loan (source of income).

Known as Hard Money, these loans might enable you to bring that superhero offer to a Seller or to be the superhero Agent for your client. Financing available for owner occupied, non-owner, some commercial and land loans.

We stand ready to help you, a client or someone you know with our “not-normal loan” programs! Call us today at 707-523-2099.

Best, Broker & Broker – The Superhero Guys in the White Hats

Recently Funded Not-Normal Loans:

Santa Rosa, California (Sonoma County)
Loan Amount: $360,000
Loan Program: Investment Property Purchase
Loan To Value: 60%
Days To Fund: 8 days
Why Turned Down Elsewhere: FICO issues

Orangevale, California (Sacramento County)
Loan Amount: $295,000
Loan Program: Owner Occupied Business Purpose
Loan To Value: 65%
Days To Fund: 19 days
Why Turned Down Elsewhere: Bankruptcy

South Lake Tahoe, California (El Dorado County)
Loan Amount: $311,000
Loan Program: Owner Occupied Temporary
Loan To Value: 64%
Days To Fund: 14 days
Why Turned Down Elsewhere: Property condition

Santa Rosa, California (Sonoma County)
Loan Amount: $568,000
Loan Program: Bridge loan
Loan To Value: 80%
Days To Fund: 12 days
Why Turned Down Elsewhere: Needed a fast loan

Vallejo, California (Solano County)
Loan Amount: $420,000
Loan Program: Investment Property Refinance
Loan To Value: 56%
Days To Fund: 24 days
Why Turned Down Elsewhere: Short sale

Note: Get our financing despite bad credit, difficult to prove income, property a fixer, etc! We finance Jumbo loans, Bridge and short term loans, Owner Occupied purchases and refinances, investment purchases, commercial and land.

Skillful Summer Success

June 28, 2017 Broker

Owner Occupied Bridge/Temporary Loan
San Juan Capistrano, California

A Realtor called me regarding a home loan that her client was having difficulty getting approved. The buyer wanted to purchase a new home in Orange County and needed a jumbo loan of $875K. Partially using equity from his existing house, he was coming in with 50% of the purchase price, made good income and had good credit. The property was under construction and, therefore, did not qualify for other loan programs.

This is where I came in with our Hard Money lending. This type of loan is not a disqualification or a turn-off for any of our private investors. The home buyer intended to complete the construction and would refinance once it qualified for traditional financing.

With such a positive loan to value and the Borrower’s other great qualifications, I had this loan approved and funded in no time. Both the Realtor and buyer were extremely happy when this transaction closed in under 3 weeks!

If you or someone you know is having difficulty with loan approval for a purchase or even a refinance, call me at 707-523-2099. I would be more than happy to let you know how we can help with a Hard Money loan.

Make the Winning Offer

November 29, 2012 Owner No Comments

Make the Winning Offer

Who doesn’t want to know how to beat out the other purchase contracts in today’s multiple offers and lower inventory markets, and buy that house!

There was a really good article in the Wall Street Journal recently about Hard Money loans. It was informational to borrowers and investors alike. It spoke of the fact that Hard Money loans will account for 1% of the 5.5 million home loans originated this year, up sharply from prior years.

It mentioned “Hard Money” filling an important void. Look at just a few instances:

You are 1 of 12 different offers with a highest-and-best counter, on a house you really want to live buy. You have the ability to put down 30% of the purchase price and get pre-approved for a hard money loan with a quick call to a good local Hard Money Lender. You remove loan contingencies, increase your earnest deposit and make a 15 day closing date and your offer gets accepted! Now this is a scenario where you win and Hard Money can fund that loan!
You just did a short sale on your home and want to buy another one. Your favorite bank won’t even talk to you. You know that prices are at rock bottom and you can buy the same home that you bought 5 years ago for $400,000 now priced at $250,000! Hard Money can fund that loan!
You lost your job and your credit is shot. You now are back to work making the same money and you want to buy a house. You’ve got 30% down. No bank will touch you as your FICO score is 525. Hard Money can fund that loan!

The Wall Street Journal article further states that the fees and rates are no doubt higher than a bank, but it is well worth it as “no bank is willing to listen.”

The real gist of this article is to not give up about buying a home; It just takes a strong and strategic offer to beat out all the others, despite not being the one with the most cash!

Even at Hard Money rates (some of which I’ve gotten funded as low as 9%) its worth it because you’d be getting in at the bottom of the market and down the road could refinance to a 30-year fixed rate loan once qualified again. Your gain from buying at the right time can offset the cost using Hard Money.

Take advantage of a Hard Money loan or help your potential Buyers succeed at getting into a new home by directing them to such versatile financing!

CREDIT – The Bane of Home Loan Approvals

November 29, 2012 Owner No Comments

CREDIT – The Bane of Home Loan Approvals

This aspect of qualifying for a home loan boils down to good credit versus bad credit.

The lenders left in the mortgage market arena, let’s call them institutional lenders, the ones that are offering the 30 year mortgages at historic low rates, require good credit (among other things).

Hard Money lenders allow bad credit. Institutional lenders will make you wait years after you have a bankruptcy, foreclosure or short sale before they will lend to you.

Hard money lenders will loan to you immediately after any of those events and even while you are going through them!

Same with recent credit problems including 30, 60, 90, 120 day lates, judgments and/or collection accounts. Institutional lenders hate these. Private money lenders can do a loan in spite of these.

Hard money lenders generally require just 2 things:

Equity or a good down payment and
Ability to repay the loan.

Look at the important role played by Hard Money: Guy has a free and clear property. He fell on some misfortune and his credit was damaged. He makes plenty of money and he has no house payment. He goes to his favorite bank where he’s been for 25 years. Loan denied due to bad credit. He calls a loan officer friend who works for a bigger bank who tells him he’s out of luck due to bad credit and to come see him in a couple of years.

This guy has a free and clear property and none of the institutional lenders will lend to him due to bad credit. A Hard Money broker will do this loan! There is equity and ability to repay.

Let’s say you have a happy couple who make good income and have saved up enough for a decent downn payment to buy a house. They filed bankruptcy a year earlier which included a short sale so no bank will help them out. Yet a Hard Money broker will do this loan as they have decent down payment and ability to repay!

This handles the credit aspect of a loan. Give me a call today and let me help you and your Buyer(s).

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