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Cotati : Real Estate Advice

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  • Local Info1
  • Home Buying4
  • Home Selling0
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Activity 21
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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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
Fri Jan 9, 2015
Cindy Davis answered:
Unfortunately for the public,Trulia is not in the monitoring business. They just publish whatever is posted.
1 vote 2 answers Share Flag
Tue Jul 15, 2014
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
Sat Jul 27, 2013
Sean Mccamish answered:
Thank you for your question,
I would estimate it in the high 200's without having seen it and considering today's market. There is a high demand for homes such as this on the market, however you do not want to be stuck over pricing the home. Its condition and location will play a large roll in the price you can get as well as the showing ability of the unit. If you live in the home and can easily leave to show the property you will have a much easier time selling, as opposed to having tenants in the unit that may not be interested in keeping it clean or letting it be shown conveniently.
If you are interested in a more accurate estimate, I would like to meet you at the property and discuss some of the comparable properties sold that would justify your asking price. Please call or email me so we can set up a time to meet.

I'm looking forward to hearing from you!

Sean McCamish
707-484-2172
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0 votes 2 answers 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
Fri Aug 10, 2012
Larae answered:
I meant amazing food in Petaluma, not Rohnert Park. Sorry, no amazing food in Rohnert Park.
0 votes 5 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
Fri Oct 1, 2010
Monir Mamoun answered:
Hi Elizabeth, you should really check with the local police and sheriffs departments for this data. They will have the most accurate information. A realtor can't really give you a fully "legal" opinion on this issue for a variety of reasons related to real estate laws and professional liability.

If you could use a referral for a really great agent in your area, please contact me through the trulia form.
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0 votes 3 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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Sat Aug 28, 2010
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
Wed Feb 17, 2010
Harold Sharpe answered:
Change your loan to conventional.
contact your loan agent.

Harold Sharpe
So Cal Homes Realty
(951) 821-8211

http://www.socalhomesrealestate.com
0 votes 4 answers Share Flag
Sun Sep 27, 2009
LW answered:
Our HOA fees on Santero Way have been just under $200 in Cotati and it feels like a rip-off. Seems like I should get a pool or gym. There is no accountability or discipline to neighbors that trash the area or don't clean up after their pets... so basically our HOA pays for them to water the lawn area and maintain what little landscaping there is. ... more
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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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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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