Recent multi-units I’ve listed and put into contract:
145 Washington Court
115 Washington Court

Vulture investors: They’re back – and making a bundle
By Les Christie, staff writerAugust 5, 2010

NEW YORK (CNNMoney.com) — These are the glory days of the residential real estate investor. Low prices, rock-bottom interest rates and stable rental markets have created huge buying opportunities.

“It’s awesome right now. I don’t think we’ll ever see another time like this,” said Tanya Marchiol of Team Investments, which has operations in about 10 states but focuses mostly on the Phoenix market.

These investors are known to many as vultures because they swoop in and buy “distressed properties” — foreclosures and short sales — cheap. Places like Las Vegas, Phoenix and Miami are popular because home prices there have dropped as much as 70%.

But how they’re investing has changed. In the boom years, they would buy a property and flip it for a quick cash out. Today, they are holding and renting for hefty, steady incomes.

Once they analyzed their decisions based on home-price appreciation, which is very speculative. Now they consider potential rental profits, which is far more stable.

Back then, they flipped often and helped to bid up home prices into a froth. Now, the investors say, they can be a part of stabilizing neighborhoods.

Condos for less than the cost of a Corolla
“People are not in it to flip like back in the old economy,” said Matt Martinez, an investor and author whose new book, “How to Make Money in Real Estate in the New Economy” comes out next February. “The new economy dictates that you have to have a long time horizon.”

Marchiol, for example, does not even factor in home price appreciation for at least a year. After that, she calculates only a 3% annual increase — a return that won’t turn heads of investors who only want to buy low and sell high.

Marchiol just purchased four separate four-plexes in North Phoenix. Three years ago, each four-unit building sold for $310,000; she paid just $70,000 per building. She intends to spend about $64,000 rehabbing the properties, making her total investment $344,000.

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Date/Time:
August 21, 2010 / Auction opens 8:00 a.m. PDT

August 24, 2010 / Closing times vary by parcel

Place:
On the internet at: www.bid4assets.com

Properties To Be Auctioned
FAQ

Important Information: From Sonoma County Treasurer-Tax Collector:

Research Before You Invest

The sale of these properties should not, in any way, be equated to real estate sales by licensed salesmen, brokers and realtors. The Auditor-Controller/Treasurer-Tax Collector cannot guarantee the condition of the property nor assume any responsibility for conformance to codes, permits or zoning ordinances.

You should inspect the property before investing. The burden is on the purchaser to thoroughly research before the sale, any matters relevant to his or her decision to purchase, rather than on the county, whose sole interest is the recovery of back taxes. Any research on these properties will need to be facilitated by the purchaser. The county offices provide information during regular business hours.

It is recommended that bidders consult with the Zoning Department of any city within which a particular parcel lies, or the Zoning Section of the County Planning Department for an unincorporated area parcel.

Should the successful purchaser desire a survey of the property, this must be done at the purchaser’s own initiative and expense. No warranty is made by the county, either expressed or implied, relative to usability, the ground location, or property lines of the properties. The exact location, desirability and usefulness of the properties must be determined by the prospective purchaser prior to the sale.

Tax-defaulted property will be sold on an “as is” basis. This is a “Buyer Beware” situation and ALL SALES ARE FINAL.

Mortgage rates dropped to the lowest level on record for the sixth time in seven weeks, offering the most attractive opportunity in decades for those who qualify to refinance or purchase a home.

Government-controlled mortgage buyer Freddie Mac said Thursday that the average rate for 30-year fixed loans this week was 4.49 percent, down from 4.54 percent last week. That’s the lowest since Freddie Mac began tracking rates in 1971.

The average rate on the 15-year fixed loan dropped to 3.95 percent, down from 4 percent last week and the lowest on record.

Rates have fallen since spring as investors seek the safety of U.S. Treasury bonds. That has lowered the yield on Treasurys. Mortgage rates tend to track those yields.
The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.

Low rates have sparked some activity in the weak housing market, but not a massive boom in refinancing.

Applications to refinance loans increased 1.3 percent and those to purchase homes increased 1.5 percent, according to the Mortgage Bankers Association.

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18285 Fitzpatrick Lane
Occidental, CA 95465

Listed for: $1,495,000
Property Type: Single Family/Land

• 23+ acres
• Ocean view
• Miles of trails
• Frederic Fisher guest house & barn already built
• 20± GPM shared well
• 3500 gallon storage tank
• 3BR Septic
• Ten minutes to Occidental

Description
Stunning and Private 23+ acre property, with Frederick Fisher designed guest studio and barn. Come connect with nature and build your dream home in tune with the surrounding environment. Ocean views, rock formations and miles of trails designed by famed environmentalist Roger Raiche. Meadows, woodlands and streams complete this perfect setting. Operating three-bedroom septic in place, shared 20 +/- GPM well with 3500 gallon tank, all ready for future structures. Sonoma Coast AVA-World Class soil perfect for small vineyard, two acres allowed, possibly more with agreement from neighbors or increased tank storage. A property like this does not come available very often, and Fitzpatrick ridge does not have many spots like this; the feeling of contentment and calm pervade the soul when on this property..

www.18285FitzpatrickLn.com

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60 Woodside Drive
San Anselmo, CA 94960

Listed for: $876,500
Property Type: Single Family

• 3 bedrooms
• 3 bathrooms
• 4 car parking

Description
Beautiful San Anselmo home with pool and views of Mt. Tam and Sleepy Hollow. Three bedroom, three bath home has a perfect floor plan with mostly single level living. Bonus room downstairs opens to the pool and could be a great family room or extra bedroom. Views from every window look out over pool, sleepy hollow and Mt. Tam in the distance. An entertainer`s dream with wrap-around decks and patios to enjoy the perfect summer weather.

www.60Woodside.com

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145 Washington Court
Ukiah, CA 95482

Listed for: $459,000
Property Type: Single Family

• Two 1BR/1BA units
• Two 2BR/1BA units
• Laundry on site
• 4 car parking in carports
• Remodeled units
• New landscaping
• New roof
• Turn-key and easy to manage

Description
This 4-plex, along with its neighbor 115 Washington Court are both beautifully updated and show a pride of ownership. New paint, new roof, new appliances and flooring in most units. Laundry room on site, and low maintenance landscaping make owning these buildings a breeze. Buy one building, or package with 115 Washington Court!

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115 Washington Court
Ukiah, CA 95482

Listed for: $459,000
Property Type: Single Family

• Two 1BR/1BA units
• Two 2BR/1BA units
• Laundry on site
• 4 car parking in carports
• Remodeled units
• New landscaping
• New roof
• Turn-key and easy to manage

Description
Convenient, perfectly remodeled and cared for 4-plex. Great location at the south side of town, near shopping, restaurants and southern freeway access. All four units have been redone, and the building has new roof and landscaping. Laundry room on site and this complex is an investor`s dream, turn-key and extremely low maintenance. Buy this with its neighbor 145 Washington Court and own an 8-plex!

5555 Sylvania Heights Road
Camp Meeker, CA 95419

Listed for: $784,000
Property Type: Single Family

• Over 100 years old
• Built for Melvin Meeker, founder of Occidental & Camp Meeker
• 5 bedroom main house
• 1 bedroom studio with separate kitchen
• 2+ acres
• Rustic West County
• 20 minutes from the Coast
• 5 minutes from the charming town of Occidental

Description
This stunning, historic home, built for Melvin Meeker around 1900, has been updated and restored. Keeping the rustic charm of West County was extremely important to the current owner, but updates to heating, foundation, septic and interior systems have all been done. Five bedroom and two bath main house, with a one bedroom, one bath studio attached gives ample room for a family, or possible B&B.

2520 Pope Canyon Road
St. Helena, CA

Listed for: $749,000
Property Type: Land

• Approximately 40 acres +/-
• Architectural and Civil Plans have been developed for the site
• Pond and Paddle Tennis Court
• Improved infrastructure and new rock bridge

81 Diane lane
Larkspur, CA 94939
 
Sold at $1,140,000 (Listed for $1,395,000)
Status: Sold – *Buyer Represented

Features
Bedrooms: 3
Bathrooms: 3
Style: Custom, Traditional
 
County: Marin
Property Type: SFD

• House is approx. 4400 square feet
• Approximately 0.101 acres
• Built in 2007

Description
Newer construction featuring the highest quality craftsman details integrating the finest of materials, with modern amenities & systems. 81 Diane Lane boasts a fitted gourmet kitchen with dramatic French doors, master suite with Mt.Tam views, an au-pair unit, radiant heat throughout, slate roof & copper gutters. Comfortable, stylish and distinctive, this substantial property is ideally situated close to downtown Larkspur, biking trails and schools.