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Where Is the Real Estate Market Headed in 2022?

February 22, 2022

Where Is The Real Estate Market Headed In 2022 Bidding Wars. All-Cash Offers. Limited Supply. Sound Familiar? That’s Because These Are The Words Of A Song Being Sung Every Day In California.Bidding wars. All-cash offers. Limited supply. Sound familiar? That’s because these are the words of a song being sung every day in California.

After two years of unprecedented growth will there be a cool-down and possibly a fall in sales and prices in 2022? Will we ever return to “normal”?

Recently, several housing experts reported in USA TODAY that home sales are likely to be slightly lower in 2022 while home prices will continue to rise due to the ongoing housing shortage.

Another real estate brokerage firm had this to say:

“I don’t think we will see a correction, maybe a slowdown.”

A CEO of a realty company stated:

“I don’t see any sort of crash in the near future. No way.”

The National Association of Realtors (NAR) forecast calls for median price gains of between 5% and 7% this year. This increase contrasts to the 2021 increase we saw of a 20% average rise.

If you want to take advantage of the housing boom, but don’t qualify for a conventional mortgage, give Sun Pacific Mortgage a call at 707-523-2099 to discuss a private money loan or visit our website at www.sunpacificmortgage.com. We are a family-owned and operated business serving only California for 34 years. We offer fast mortgages for owner-occupied and non-owner-occupied residences, as well as business purpose loans. Our mortgages are usually completed in 7-30 days making a Buyer’s offer look exceptionally good to a Seller.

The Six C’s of Private Money Lending

February 15, 2022

Private Lender Private Money, Also Known As “Hard Money,” Has Become A Popular Alternative To Conventional Loans, Especially During These Stressful Sellers’ Market Days Which We Have Been Experiencing For The Past Several Years.Private money, also known as “hard money,” has become a popular alternative to conventional loans, especially during these stressful sellers’ market days which we have been experiencing for the past several years.

Why is that? Because FAST is the name of the game in this dog-eat-dog market and private money can be available in as little as a week through some hard money lenders, such as Sun Pacific Mortgage. Unlike conventional lenders where the loan process can take months to get approved, Sun Pacific Mortgage has much less red tape and requirements for these private money loan programs.  Our 33+ years in business has allowed us the experience to become truly expert in the loan approval process, solving any bumps that come up along the way. Service all of California Home Buyers, Borrowers, Realtors, Conventional Lenders, Mortgage Brokers and Investors alike; Anyone who need a quick close or who has been turned down for a conventional loan.

Let’s examine six factors that influence a private money lender before entering a contract with a borrower:

  1. Collateral:  Lenders are in the equity business, not the real estate business. They will consider all aspects of the property (physical condition, its marketability, and its profit potential), but the loan-to-value (LTV) is of primary importance.
  2. Conditions:  To minimize risk, Lenders look at other property inventory and at the resale or rental value of the given home/land.
  3. Capacity:  Lenders must consider the ability of the Borrower to carry out the terms of the loan and their existing obligations.
  4. Capital:  Lenders expect the Borrower to have significant “skin-in-the-game” at the closing table.
  5. Character:  Many Lenders look at the character of the potential Borrower. They look for liens and judgments which could affect the property under consideration.
  6. Credit:  With asset-based hard money lending, credit isn’t the most principal factor, but it may affect the interest rate the borrower pays.

Using a reliable, experienced company like Sun Pacific Mortgage to either invest or borrow money through, has been a wise choice for thousands over the past 3 decades. Give us a call at 707-523-2099 to see what we can do for you. You can also find us at www.SunPacificMortgage.com.

Sleigh What? Fast Home Loan!

December 9, 2021

December Promo 1 Edit

We Fund Loans FAST!  After 33 years of experience, we are specialists at FAST Private Money Mortgages.  We’re here to help you, a family member or a friend get that fast home loan for the Holidays.

Loan of the Week

A Sonoma County Agent referred his Buyer to us after being turned down by her conventional Lender, 27 days into a 30-day Escrow.  Despite being very qualified, this Buyer was turned down by Underwriting at the last-minute due to an issue with proof of income.

In just 5 days we had her owner-occupied Bridge Loan of 946k approved and funds ready for her new home purchase!

One of our specialties here at Sun Pacific Mortgage is fast turnarounds, so if you or someone you know is in need of fast financing or having difficulty elsewhere getting a mortgage, give us a call at 707-523-2099 or contact us through our website. We will quickly let you know what we can do to help!

Real Estate Market for SFO October 2021

November 22, 2021

California Trust Deed Investing

Another stellar month for San Francisco real estate in October. Despite all the naysayers’ predictions that the market was on its way down, all markers indicate a continued upward trend. Here are the results for last month’s single-family residence in San Francisco:

  • Average List Price:  $2,093,971
  • Average Sales Price:  $2,358,448 ($2,131,959 in Sept.)
  • Average Sq. Ft. Price:  $1,093.37
  • Average D.O.M: 19
  • All Sold Properties:  709 (575 in Sept.)
  • SFR Sold:  303
    • 36 below price
    • 11 for listing price
    • 256 above listing price
  • One SFR sold for $1,506,248 OVER listing price

With the holidays approaching, we usually don’t expect many homes coming up for sale, but since it appears that we are constantly in new territory when it comes to the real estate market lately, we could see a significant reversal of the norm.

If you are looking to sell/buy anywhere in California, give Sun Pacific Mortgage a call at 707-523-2099 to discuss the many lending programs we offer for purchasing, refinancing, and bridging on owner-occupied and investment properties. Or visit our website www.sunpacificmortgage.com to learn more!

Real Estate Statistics for September 2021 San Francisco Peninsula

November 2, 2021

San Francisco Real Estate Statistics For September 2021

Markets typically move in cycles characterized by pervasive economic optimism, uncertainty, or pessimism. Today, optimism is the prevailing motivation especially behind the real estate market. We have only to examine the results of September’s sales data recorded for the cities on the San Francisco Peninsula to see that exemplified.

Menlo Park

  • Days On Market: 23
  • Average Sales Price:  $3,539,340
  • Average Sales Price was 6% above asking

Foster City

  • Days On Market:  9
  • Average Sales Price:  $2,2253,961
  • Average Sales Price was 12% above asking

Belmont

  • Days On Market: 12
  • Average Sales Price:  $2,267,777
  • Average Sales Price was 11% above asking

San Carlos

  • Days On Market: 12
  • Average Sales Price:  $2,488,548
  • Average Sales Price was 6% above asking

San Mateo

  • Days On Market: 17
  • Average Sales Price:  $1,921,305
  • Average Sales Price was 7% above asking

Burlingame

  • Days On Market: 13
  • Average Sales Price:  $2,991,900
  • Average Sales Price was 11% above asking

If you are considering a purchase or refinance, whether it is for an owner-occupied or an investment property, give Sun Pacific Mortgage a call at 707-523-2099 to discuss a privately financed mortgage. Armed with a pre-approval letter, will be a huge asset when presenting your offer to a Seller in today’s economy. We are known for our fast closings friendly, informative service throughout the buying process.

Real Estate Report on North Bay Counties for August

September 28, 2021

So Many Mortgage Myths

Once again, the lack of inventory has been the biggest factor in the shaping of the real estate market for last month.  Too many Buyers, not enough Sellers.  Here are the single-family residences results for Sonoma, Marin, and Napa counties:

Sonoma County:

  • Into contract:  537
  • New listings:  451 (115% less than 8/2020)
  • Closed:  585
  • Open listings on 9/1:  698

Marin County:

  • Into contract:  192 (20% less than 8/2020)
  • New listings:  139 (53% less than 8/2020)
  • Closed:  223
  • Open listings on 9/1:  211

Napa County:

  • Into contract:  126
  • New listings:  111 (14% less than 8/2020)
  • Closed:  125
  • Open listings on 9/1:  235

If you are hoping to snag your own new home in the North Bay or anywhere else in California, consider a privately funded loan from Sun Pacific Mortgage.  With our specialty mortgages, you are armed with the “fast close” weapon, a real bonus in this present market.  We offer refinances, Bridge loans, and purchase loans that can be closed often in a week.  Call us at 707-523-2099 to find out what we can do for you.

Real Estate Statistics for July 2021 – San Francisco Peninsula Areas

August 24, 2021

Real Estate Market Results For San Francisco Peninsula Areas

Reports for last month show that the Peninsula is still a hot commodity. Homes are flying off the shelf with selling prices well above the asking price. Buyers can still expect to engage in bidding wars knowing that unless they get creative with their offer, they will probably lose out. All you need to do is examine the activity from July to see that real estate remains an extraordinarily strong seller’s market.

Menlo Park:  

  • D.O.M.: 6
  • Ave. Selling Price:  $2,563,025 ($175,125 ABOVE 6/21)
  • 16% ABOVE asking price

Foster City:

  • D,O.M.:  8
  • Ave. Selling Price:  $2,322,710 ($39,710 BELOW 6/21)
  • 16% ABOVE asking price

Belmont:

  • D.O.M.: 9
  • Ave. Selling Price:  $2,290,884 ($114,368 BELOW 6/21)
  • 17% ABOVE asking price

San Carlos:

  • D.O.M.:  11
  • Ave. Selling Price:  $2.659,670 ($120,812 ABOVE 6/21)
  • 12% ABOVE asking price

San Mateo:

  • D.O.M.:  13
  • Ave. Selling Price:  $2,368,985 ($358,062 ABOVE 6/21)
  • 14% ABOVE asking price

Burlingame:

  • D.O.M.:  11
  • Ave. Selling Price:  $3,101,173($8,738 ABOVE 6/21)
  • 5% ABOVE asking price

In this market speed is everything!  On the Peninsula in July, the average days on the market ranged from 6 days to 13 days. That doesn’t give a Buyer any time to dilly-dally.

If you want to be competitive in today’s real estate arena, getting pre-approved for a mortgage is essential. Beyond that step, consider a fast private money real estate loan from Sun Pacific Mortgage. We are known for our speed in closing deals in a week or less.

Give us a call at 707-523-2099 to get a bridge loan or a temporary purchase loan that you can refinance later when speed is of no consequence.

San Francisco & North Bay Real Estate Market – review of Jan.2021

March 9, 2021

Real Estate Market Results For San Francisco Peninsula Areas

Sonoma, Marin, and Napa Counties have seen unprecedented sales numbers since the Spring of 2020. Pandemic conditions which resulted in remote working and distance learning has created a surge of demand for larger homes and bigger lots.

Many San Francisco and Silicon Valley homeowners have found the answers to their search for a more compatible living arrangement in the North Bay.  January real estate statistics present a picture of what happens when there is a rush on single family properties and extraordinarily little inventory.

SONOMA COUNTY:

  • New escrows: 193 (down 27% from 1/2020)
  • New listings:  207 (down 45% from 1/2020)
  • Sold:  308 (up 34% from 1/2020)
  • Inv. As of Feb.1: 458 (down 28% from 1/2020)

MARIN COUNTY:

  • New escrows:  106 (up 17% from 1/2020)
  • New listings: 106 (down 17% from 1/2020)
  • Sold:  140
  • Inv. As of Feb.1: 139

NAPA COUNTY:

  • New escrows:  52
  • New listings:  55 (down 46% from 1/2020)
  • Sold:  69
  • Inv. As of Feb.1:  188

It is expected that the immense demand for homes from buyers coming from more urban areas of California will continue and possibly even escalate going into the first half of 2021.

If you need a fast close or do not qualify for a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099 to obtain a privately funded mortgage.  We have helped thousands of folks just like you over the past three decades we have been in business in California.  Our private money financing can be quite beneficial.

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

Furniture Arrangement Matters

November 25, 2019

Furniture Arrangement Matters

It is important to consider the use of the space when designing furniture placement in a home. Be it staging a house to sell quicker or catch a higher purchase price; How about setting up one’s home for better comfort and entertainment. 

Furniture makes the room, but the placement of the furniture matters just as much as the individual pieces.  Placement sets the mood of the room and signals the overall tone. To state the obvious, too many pieces of furniture in a room can cause the layout to feel cramped.  For instance, if when entering a room, you immediately walk into the back of a chair or sofa, the space will feel closed off and uninviting. Each piece of furniture should have its own space to breathe.

Pathways within a room should feel natural and provide the best flow within the room as well as between rooms.  Space between the sofa and coffee table, as well as the sofa and an accent table, should allow room to walk around. This placement will make the room feel much lighter.

Strategic placement of seating in the TV room is paramount for optimal viewing. With that in mind, place your couch parallel to the TV and angle the side chairs on each end with a table available for drinks and food.  

Balancing the weight in the room is an easy way to create visual flow.  Too many chunky pieces (e.g. sofas) need a more delicate coffee table to help the room from becoming too heavy.  Pops of color and similar shapes are other ways to tie together the look of a room.

In the bedroom it is best to focus on maximizing comfort and functionality.  For instance, it should be easy to get in and out of the bed, even in the middle of the night, without stubbing your toe on the dresser.  Additionally, there must be enough space to fully open dresser drawers.  

The dining room should have enough space to circulate around the table comfortable for food and plate delivery.  And there should be enough space to get in and out of chairs comfortably.

Measuring your space before purchasing a new piece of furniture is advisable in order to save yourself heartache and money.  Otherwise, that sofa you fell in love with, in the store may become a decision you regret for a long time!

 

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