I live in Santa Rosa (about an hour north of SF bay and TUCOM). Good places to look for a home are: Sonoma, Napa, certain neighborhoods in Vallejo are ok (call a realtor). Public schools in Vallejo suck though. Benicia is good, but kindof expensive. The list goes on and on, the best thing to do would be to talk to a realtor in Vallejo/benicia/sonoma/napa. yahoo is great for checking out home prices.
If I get in, we will probably keep our home while my wife finishes school at Sonoma State University. Our home is a mobile home and my parent's actually own it on paper, but I pay all of the mortgage. I would look for a roommate on the island and go home on the weekends (or perhaps every other weekend).
All this is assuming I get in, so right now my fingers and toes are crossed and I'm nervous as hell (not about the interview, I hear that it is pretty low stress, I'm just nervous about the outcome).
Congrats to these admitted, hopefully I'll be joining you.
Russell