Susan Bryer

Hi Paula,

I remember your home from its marketing in 2006. As I recall it had an intriguing second 'wing'. The improvements sound great, and I'm also curious as to whether you've done any internal reconfiguring. The house shows on the tax records as approximately 1852 square feet on a .38 acre lot, originally built in 1954. To be completely honest with you, the July 2006 period was at or near the Sebastopol peak of market, and it would be irresponsible of any Realtor, even one very familiar with Sebastopol neighborhoods, to assure you in this forum that you could definitely achieve your original investment and the improvement costs of what you've done since your purchase. The only way a Realtor could fully and responsibly inform you of this potential would be to view your home, review recent comparables with you in detail, review the costs of selling your home, and then let you decide whether or not it was time to sell. If you were represented by a Realtor in your 2006 purchase and if you have confidence in him or her, that would be a good place to start. Consulting another one or two Sebastopol neighborhood experts would also be a good idea, as this way you would get maximum input to make your decision. Finally, please don't put too much stock in the data returned to you by sites like Zillow, or by boiler-plate estimates of your home's worth sent by mortgage companies, etc., as each home's market value is very individual. Especially country property where the houses aren't cookie cut like suburban subdivisions...

I hope my comments are useful and I wish you the best.

Sincerely,
Susan Bryer - Sun Jun 22 2008, 12:54

Hi Moondanc,
I think generally speaking, the further west, the cooler the average temp and the quicker it will be for your house to cool in the evening with the blessed ocean breezes! Even Sebastopol and Russian River towns can get scorching hot a few days a year, but by early evening, we're usually opening windows and enjoying the coastal influence. As far as rental agencies/ideas...please forgive if anything I suggest below is a duplication...but here goes:
www.CraigsList.com Forum with the most rental activity for this area. Search 'sfbay' then 'nb' for NorthBay, then 'apts/housing for rent'. New listings daily, even hourly.
www.dedesrentals.com 707-523-4500 Dede's has active listing on its web site as well as daily open houses for its rentals.
Patty Kolodge of Kolodge Property Management 707-823-7900: Smaller agency but does have interesting inventory.
Between these three resources I have no doubt you will be able to secure an appropriate rental from which you can conduct your home search, taking as much time as you need.
Sincerely,
Susan - Fri Jun 6 2008, 06:49

Hi --
Early last year I did a mobile home loan with Dave Shanklin of Investors Trust Mortgage (cell: 1-800-401-3372) or office 1-800-750-6210 x 122. It was a mobile home in a Santa Rosa mobile home park with a $30,000 loan, and Dave treated me and my client like gold all the way through, with excellent follow through and knowledge.
Best,
Susan Bryer - Sat May 31 2008, 16:19

Hi!
Sounds reasonable at the outset -- yet, it would depend on:
1. is it priced 'below market' to attract offers with the likelihood that it could be 'bid up?"
2. How long has it been on the market?
3. What do the comparable closed sales and active listings tell you about its value?
4. is $270K reasonable for YOU -- that is, is that what you can comfortably afford to offer and pay? If so, then definitely you should submit your offer and just see if it flies. The worst that can happen is it won't be accepted!
Right now properties under $300K in Santa Rosa are flying out the door if they are priced well. REO listings are often receiving multiple offers. Yet, without knowing the exact property you're referring to it is hard to counsel you concretely about how to proceed.
In any case i wish you the best in your attempt and hope my comments help.
Susan Bryer - Mon May 19 2008, 17:54

Hi Joanne,
Such a relevant question! In my limited recent experience, I'd say there are different possible outcomes for the second lienholder, depending on the proceeds available from the sale. For instance, in a short sale which must be approved by the lienholder(s), if there is not enough to pay all liabilities (any and all loans, taxes, commissions., etc) the first lienholder will dictate what the second lienholder can receive, if anything. We had a recent close in which the first had to accept dramatically less than what was owed in a short sale, and limited the second to receiving $1000, period. But, if the second doesn't accept the $1k, for example, it will almost certainly be 100 percent wiped out once the bank actually completes the foreclosure. So the second lienholders are accepting literally pennies on the dollar of what they are owed, if they are offered anything by the first in a short sale. I'm sure it differs around the country and every specific sale is different. This answer only scratches the surface of the issue... all of us in the industry are learning all the time, and new information seems available on a daily or weekly basis. All the best in your home search! - Sun May 18 2008, 21:44