Neighborhood characteristics, boundaries and factors that affect marketability:
Subject is not located in a distinct neighborhood and boundaries are ill defined. The competing market area for the subject would include all rural to semi-rural locations in the northern portions of Sonoma County, 10 miles east and west of Highway 101, all areas of the Anderson Valley region along Highway 128, and most areas of inland Mendocino County, 10-20 miles east and west of Highway 101 and north to Highway 20 in Calpella. Hopland, with a population of approximately 900 residents, is a semi-rural ranching and farming community approximately 12 miles north of the Sonoma County line and 15 miles south of Ukiah, the largest city in Mendocino County and seat of local government. Bucolic in nature, the Hopland area has many vineyards, orchards, farms and ranches and a thriving wine and tourist industry. The business district of Hopland is located along a quarter mile section of State Highway 101 near it's intersection with State Highway 175 and consists of fuel service, a small grocery store, a hardware store, 4 cafe's or restaurants and a small assortment of roadside businesses catering to tourists. The Hopland Elementary School is located near the town center. Middle and High Schools located in Ukiah. The subject is located on Mountain House Road, approximately 14 miles northwest of Cloverdale and 15 miles southwest of downtown Hopland. Very limited employment in Hopland with the exception of local service industry, seasonal agricultural employement and the large Indian Casino east of town. Most residents commute to employment centers in Ukiah or to major employers in Sonoma and Marin Counties, 1 - 2 hours southerly via Highway 101. Other residents are retired, self employed, telecommute or have 2nd homes here. Property values have continued to rise in the past 2-3 years and have risen signficantly in the past 12 months. Much of the appeal of Hopland is the rural, country setting while still reasonably proximate to major metropolitan employment centers, services and infrastructure. Exposure time averages less than 180 days when appropriate marketing techniques are employed by a brokerage or realty company which specializes in the marketing of this property type. Exposure times can be as high as 1 to 3 years but his is not typical. Current interest rates remain competitive and conventional financing is readily available for typical residential properties.
