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94928 : Real Estate Advice

  • All17
  • Local Info1
  • Home Buying9
  • Home Selling2
  • Market Conditions0

Activity 14
Sat Oct 1, 2016
Susie Kay answered:
That's a question that's best answered by an attorney and/or CPA, not realtors. Your attorney can discuss with you the legality aspect of each title and your CPA the tax consequences. You can select the title that suits you best depending upon what you are trying to accomplish and your current financial/family condition.

I hope this makes sense!
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0 votes 10 answers Share Flag
Wed Apr 1, 2015
Cindy Davis answered:
I don't know you so don't really want to advise you. In general, your options are joint tenancy, or tenants in common. I would ask your Realtor to discuss these options with you.
0 votes 2 answers Share Flag
Wed Jan 14, 2015
Kevin and Julie McLaughlin answered:
If you're still under a conservatorship, you'll need to use them (or a lawyer) to help iron this out. Hope it all goes well for you!
0 votes 5 answers Share Flag
Tue Jul 15, 2014
Ken Walker answered:
Hello. I know a long-time Contractor who may be able to help. He does great work and is very trustworthy: Arcadio Fogal of Bella Construction. Phone # is 707/953-3633. Give him a call and hopefully he can help you.

Best, Lynn
Owner/Realtor - Flipper Chick
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0 votes 1 answer Share Flag
Sat Oct 26, 2013
Stephanie Sabo answered:
SP is building a 15-unit development on East Cotati Avenue. It will have 13 detached and 2 attached two-story homes from 1149 to 1328 square feet. The homes will be priced from the $400K's. See article at: http://prn.to/1c7hv6o If you need help buying a brand new home, we can walk you through this special process. Equis Realty Corp. 800.590.1544 ... more
1 vote 1 answer Share Flag
Thu May 23, 2013
Dolores Barron asked:
Wed Mar 27, 2013
Sher Miersemann answered:
Hi Steve, Using your parameters, this is what we come up with:

Price $270,000 ... In today's market, in Rohnert Park, that would be a condo. Condo's, contrary to what some think, also make good rentals; that is how I started out. But in today's market, 3/27/2013, in Rohnert Park, the least expensive home listed on the MLS as available (active) is $315,000.

So back to the condos: In Rohnert Park, there are 6 between the prices of $175,000 and $248,500.

If you want the purchase price of $270,000, you have to wait, or go to another area.

But back to just purchasing a rental. We'll do some hypothetical numbers:

Purchase Price $270,000. So say a small single family dwelling with 3 bedrooms & 2 baths, about 1,300sqft. You can rent it for about $1,500 - 1,650 a month. (you can find this in Santa Rosa, so not just a 'made up price for a home').

If you put 20% down, your loan would be $270,000 x 20% =$54,000 down =$216,000 loan amount.

$216,000 at about 4.25 fixed rate 30 year loan = $1,094 for principal and interest a month.
Taxes and insurance would be another $270 + $50 a month = $320.
Total monthly Loan payment = $1,094.00 + $320.00 =$1,414.

Rentals have slightly higher interest rates than Owner Occupied homes, (and you can sometimes 'buy down' the interest rate); you should speak with a Real Estate Lender for interest rates today for an investment property.

So with 20% down, this scenario would work, as you would have a hundred dollars+ per month to put away for repairs, upgrades, and unrented months between tenants.

In today's market, rentals are rented quickly. Getting back to Rohnert Park: I found homes, both condos and single family, always rented quickly. I find that to be the case, in today’s market, throughout the Sonoma County area.

Rentals are a great way to prepare for retirement, but you need to have the right disposition to be able to put up with the 'downside' of rentals, OR use a property manager to help you manage your properties.

I would love to talk with you more about rentals. I have a number of them, and found them to be both rewarding and a times 'hair pulling' experiences! BUT, I would not be as prepared for retirement without them!

I do use a different scenario when I purchased most of my rentals, but I recommend that each person use what works best for them.

I hope this has helped answer your question. Please remember that I am using my experience to answer the question, and I am not giving you any legal advice. Attorneys, Tax experts, Lenders and Real Estate Agents work as a team, each with their own specialties.

Please give me an email or a call anytime,

SHER Miersemann 707-576-1234
Broker/Owner
Redwood Realty
RedwoodRealtyCA@aol.com

All answers in this forum (by me) are deemed to be reliable, but not guaranteed... Real Estate law and rules change frequently.
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0 votes 4 answers Share Flag
Mon Oct 29, 2012
Lynn Bowen answered:
Good question and I am able to answer some of it and make recommendations about what I can't answer. Rohnert Park for the most part is a walkable city. It has a walk score of 51 and has several walking paths within green areas.

Regarding Safety, since I legally can not comment with a yes, no or other I will say this. There are a lot of families living in Rohnert Park as well as college students and professors due to it's proximity to Sonoma State University. I recommend you contact the Rohnert Park Police department regarding crime statistics.

Lynn Bowen
Artisan Sotheby's Int'l Realty
Sebastopol CA
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0 votes 2 answers Share Flag
Wed Jun 20, 2012
Lisa M Rook answered:
Hi Carol!

Would love to give you a comprehensive answer to your query. Since it can be a pretty complex transaction you're contemplating, have a number of questions for you. Would it be possible for you to give me a call? I'm a local agent, here in Rohnert Park, and would be happy to assist. Please feel free to give me a call @ 707-360-5571. Take Care, Lisa ... more
0 votes 1 answer Share Flag
Tue Sep 27, 2011
Barry Shapiro answered:
Property in question SOLD for $287,000 on Jan 23rd, 2009.
http://www.trulia.com/homes/California/Rohnert_Park/sold/656680-866-Hudis-St-Rohnert-Park-CA-94928
0 votes 4 answers Share Flag
Tue Sep 21, 2010
CJ Holmes answered:
My favorite escrow officer has told me that there is no problem with a foreigner purchasing property with cash, but then if they ever wanted to sell, the foreign owner would have to have ID and a social security number. cj www.cjholmes.com

CJ helps buyers lock in profits, maximizes sellers' net proceeds, and works extensively with real estate investors. Her wise guidance literally means more money for her clients, and comes from years of personal investing experience, and hundreds of transactions. This last market collapse has driven her to develop mathematical models designed to predict the future of real estate prices.
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0 votes 5 answers Share Flag
Sat Aug 28, 2010
Rudi Hofmann answered:
@DP,

Why would any bank in today's market allow a co-borrower off of a loan? Isn't it better to be able to pursue two debtors than one, in case of default? Especially, on a home with negative equity. Think about it.. .... Happy funding, Rudi ... more
0 votes 4 answers Share Flag
Mon Dec 8, 2008
MILLA answered:
Hi Lucy,
Selling your home is a very important decision. You should always choose a Realtor who you feel you can trust.
I think the easiest and the first thing you should do before hiring any realtor is search the California Department of Real Estate public information website using agent's name (or license #) and see if his/her real estate license is in good standing. If all the information seems to be Ok, you should go further and do a little more research using other sources.
DRE public license search website: http://www2.dre.ca.gov/PublicASP/pplinfo.asp

I hope it all works out for you for the best :)

PS: I also live in Rohnert Park, it’s a cute little town! :)
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0 votes 7 answers Share Flag
Mon Dec 8, 2008
MILLA answered:
I agree with one of the other Realtors who answered your question – it would probably be best for you to rent out your condo instead of selling it now (of course it is your decision to make). If you were to put in on the market now, in order to get in sold you would have to be competing with already deeply discounted foreclosure properties. This means you have to price the condo accordingly. Sometimes it also means lowering your asking price more and more to get the condo sold. Look and see what homes and condos have sold for in your area in the past 4 months (any Realtor you choose to work with can provide that information for you). Always do your research before making such an important decision, especially in this market. If your credit, job security and financial situation can allow you to buy a larger home and keep the condo - it would probably be best for your family to do just that. ... more
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