We've had many a bank owned home in the Courtside Village area. The biggest problem with this project is the glaring, vacancies in the commercial district which is the "heart" of the complex. We sold two of the "live/work" units on Sebastopol road (duplex above, commercial below) and at that time the commercial district had something like a 90% vacancy factor!! So you have this "hole" right smack in the middle of the comunity. Also, some vacant lots are yet to be built out as per the master plan but I fear the "master plan" will NOT be completed due to the lack of building in general of new construction in the area and especially in the "Southwest" area of Santa Rosa.
As far as the neighborhoods I think they present a significant value in today's market. The "Condo's" which are in the north central portion of the property cannot qualify for "conventional" OR FHA as one entity owns many of the units and the ratio of investor's to homeowners is tipped TOO far to the investor. One of the complexes, it was rumored, was going to split off as it was owned by a large investor who didn't enjoy paying the HOA monthly dues. Also, the finances of the HOA have been disapproved by many of the offers we had on our listings whcih were all bank owned through BofA.
However the Single family dwellings on the south wide have a great community feel and remind me of the "French Quarter of New Orleans. Some of granny units and are great extended member family units. However, if homeowners are not dominant in a occupation position you may see signs of decline as renters just don't keep the property up as a homeowners. And some investors, strung out with multiple properties, may not keep the units in decent shape. A few caveats for you. Elsie Allen HS is a very diverse high school with many cultures represented in the student mix. Hence the reason for the test scores. However, it is a vital, dynamic school.
My peers reccomend the NE,SE schools of Santa Rosa. You can visit any number of school sites to get scores on the charter and public schools. Good luck!