Rohnert Park: Bargain-Priced Fixer-Uppers
It appears that there is an abundance of reasonably priced SFR fixer-uppers in this neck of the woods. Rohnert Park, located above Sebastopol and Cotati in Sonoma County, is a small town of about 28,000 residents with a housing market that isn’t quite as brutal as the central Bay Area. While most of these listings are short sells, or close to short sell, they don’t appear to be in dire need of hundreds of thousands of dollars. In fact some might only need flooring and paint, which even the Average Joe/Jane can handle. The downside is that there would be a commute if you work in Marin or SF (and a brutal commute it would be). But the whole of Sonoma County is growing and there is industry here, most notably the wineries, so there is a possibility of employment. However, right now the unemployment rate is at 4.5% (July 2007), and may increase due to the loss of jobs in the real estate/mortgage sector according to the Santa Rosa Press Democrat.
Here are your choices under $500,000:
962 Camino Coronado, 4/2, 1318 sf, $388,900 ($295/sf)
A cosmetic fixer-upper with some really hideous wallpaper.
185 Adele Avenue, 5/2, 2005 sf, $399,900 ($199/sf)
Mid-century modern with pool on a quarter-acre. Sold in 2005 for $563,000; short sell in February of this year at $491,776.
74 Allen Avenue, 5/2, 1803 sf, $445,000 ($247/sf)
Interesting sales history on this one: Sold for $350,000 in 2003 and $96,000 in April of this year.
583 Lamont Court, 4/2, 1344 sf, $450,000 ($335/sf)
Actually, this home has a partially complete remodel, with not that much left to do. Possible short sell.
1423 Garrett Court, 4/3, 1648 sf, $459,000 ($279/sf)
Actually looks like it only needs paint and carpet. Short sell.
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SF: State of the Market; 9/8/07 to 9/14/07
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