What is a 2bdrm, 1.5 bath townhouse in San rafael ca worth?Has 2pking spaces, corner unit, W/D in unit yard

Asked by Candy Smith, San Rafael, CA Mon Nov 17, 2008

Quiet, private, faces woods, has garden,2 decks built 1971, great appliances. Part of 35 in complex. One foreclosed. How much does that bring down value. Should I rent out instead? If so, how much more can I get if furnished vs. not?

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Mary Kay and Kathy Yamamoto’s answer
Mary Kay and…, Agent, San Rafael, CA
Tue Nov 18, 2008
Properties that are 2 bedrooms, 1.5 baths in the 94903 zipcode vary greatly in price range going from $285,000 (the lowest sold price in the last 6 months) to list prices up to $400,000. Location is a very important consideration as is condition, square footage, and homeowner's association (regarding both reputation as to management, any construction defects, and amount of monthly dues). As we said earlier, we could give you a more definite price range if we knew where your unit was located and were able to see your unit.

We would also be able to advise you as to whether we thought it would be better for you to sell your property or rent it out and wait for the market to improve. Just let us know!!

Mary Kay and Kathy
0 votes
Mary Kay and…, Agent, San Rafael, CA
Mon Nov 17, 2008
Candy,

It would be very helpful to find out what complex your property is located. This will help us give you a more accurate value. The value also depends on the condition of your property, location of the unit and how well the HOA has been managed and run.

A foreclosure can effect the value of your unit however, if there has only been 1 and we can find other comparable sales to use that are of higher value than the foreclosure, then it may not have as much of a negative effect. It also depends on how long ago the foreclosure unit sold.

As far as renting is concerned, most properties are rented out vacant. The rental market has been healthy and the comparable rentals indicate you could rent the unit for approx. $1800-2000/month.

We would be happy to work with you to determine what would be best for you (sell vs rent) at this time. Please contact us at your earliest convenience. We look forward to hearing from you soon.

Best Regards,

Kathy & Mary Kay Yamamoto
RE/MAX of Central Marin
(415) 258-1505
0 votes
Sylvia Barry,…, Agent, Marin, CA
Mon Nov 17, 2008
Hi candy:

I believe you have gotten a few answers from this thread about the value of your home in Terra Linda.

http://www.trulia.com/voices/Home_Selling/I_have_a_bdrm_bath…

As far as whether you should rent your property out; in addition to the market condition, it also depends on your goal, both short term and long term.

Why are you thinking of renting or selling the home? Is it because you are in the process of buying another home? If so, where? Do you need the proceed to buy a home? If you rent, is your goal to sell eventually - will that be short term or long term rental? How long do you think you can sustain that? Will you be local so you can take care of the property or do you need a property management company to help you?

The reason why I ask this is so I can understand how you evaluate the sale vs rent situation. That has a lot to do with what you should do - other than just the price.

Even with rental, we will also need to know your specific location and condition of your unit before we can give you advise.

The ones I am seeing is around $2,000+/-; but without seeing it, it's just a range.

Furnished or not can be looked at both ways - some people comes with furniture, some not. Kind of like a house with swimming pool - all depends...

I am in Marin and very familiar with Terra Linda / San Rafael market. Let me know if I can help you.

Best,
Sylvia Barry
Frank Howard Allen Realtors
0 votes
Leslie Jacob…, , Marin County, CA
Mon Nov 17, 2008
Hi Candy,
Keith certainly gave a great answer. In order to give you an accurate Comparable Market Analysis, I would need to know the street your townhouse complex is located on. I could then give you an estimate of the worth of your townhouse, and also help you determine whether it would be a better time for you to sell or rent-- dependent upon your situation and goals. I'd be glad to help--please contact me directly.
Warm Regards, Leslie
Leslie Jacobson
McGuire Reat Estate
415.686-2664
0 votes
Keith Sorem, Agent, Glendale, CA
Mon Nov 17, 2008
Candy
My recommendation is to have a top Realtor in the area analyze your situation.

The key to answering questions like yours require a Realtor that knows three things - your home, your local market values and trends, and your personal situation. I'd be happy to refer you to one who specializes in your area.

The best response is based on the competition. If your unit was put on the market today, what other options does a buyer have? As we know it is a buyer's market, so they will buy the homes offering the most value.

In part your Realtor's job is to assess the market, including the 10-12 properties that would be your primary competition, and how to best project the value of your unit to the market so you will get top dollar for your home.

In a buyer's market I would personally recommend keeping it as a rental for the long term unless you need to sell.

Let me know if I can help! Check out the link below. I would not wait, act now to get the facts. Then decide the best course of action to meet your needs.

Good luck!
Keith
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