Hayward, CA

Is this strategy working? Price property low, pull in multiple and higher offers.  Is this a way to see what the buyers are willing and able to purchase?  Does competition make buyers more anxious?  How long will it take before the buyers see what is going on and hold back to stop it?

When you stop and think about what impact is holding back on properties that have been foreclosed and is now owned by the banks.... At first, you think nothing but after checking our areas like Hayward, CA you see that the demand is overweighing the supply and those are fighting words!

Buyer Agents are having a hard time landing a property with the offers they are presenting in Hayward.  It has nothing much to do with the amount you offer as it does the competition of the other agent's offer.

I just had a property listed in Hayward, that is just the average Hayward (Southland area) home with no upgrades or anything special, but you would not believe how many calls, email inquiries and offers we received on that property!  It shocked me.

Getting back to why is this happening?  It is because the banks are holding back on releasing properties that they have foreclosed on and that makes the supply low in Hayward and it is not matching the demand.  It appears that there are no available bank owned properties in Hayward and other areas.... But really there is going to be a flood of bank owned properties coming your way real soon.

I believe the purpose of this is to help bring the market back up. Price them low, pull in a flood of multiple offers and see what people are really willing and able to pay for these properties.  It is a false bubble - and I am not sure that is enough to bring the market back up.

Buyers.... Get your pre-approvals and go on and buy now so you will not look up and see that the market prices have increased and is headed upward before you can get that deal on a property.

Call 866-543-0461 if you need an agent to represent you in a purchase of a home.

WEBSITE: http://www.motheranddaughterrealtyteam.com

• Want to purchase a REO property? Want to know what properties I have to sell?
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide 
• For a FREE MARKET EVALUATION of your home  
• Need a Short Sale Specialist?   

Take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our aggressive marketing plan includes on-line listing advertising. 

 

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If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin, Alameda, Contra Costa and Stanislaus Counties - includes Stockton, Manteca, Tracy, Lathrop., Salida, Ripon, Modesto, Lodi, Hayward, Castro Valley, Union City, Fremont, Newark, Livermore, Pleasanton, Dublin and all surrounding cities). Call us at 866-750-8282 or email at US.

Before my young first time buyers and I look at properties we do as much research as we can online. But all the research still doesn't adequately prepare them for what to expect once we see properties up close.

A picture doesn't tell the whole story

We saw one property that sort of looked nice in the pictures, but looked so much better when we got there. It had panoramic views of the hills, the bay, and from a distance, San Francisco and the Bay Bridge. This is where a visual tour, or a better selection of pictures could have turned what initially looked to be a blah listing into a fantastic one.

Calculating monthly payments

Thank goodness for Fidelity Agent. I am able to prepare a matrix to show them the what-ifs in $$$ where they can easily determine what will work for them. Their main questions revolve on how much they will need to close escrow and how much will their monthly payments be?

In one of my blogs, I posted on what this is, and how I use it. It's been an invaluable tool --- I have it both on my computer and on my iphone so that I can do quick calculations (and impress my clients!).

Here's a sample, using 3% initial deposit, 20% downpayment, 5.25% interest for 30 years.

Offer price	$550,000	$560,000	$570,000	$580,000	$590,000
Initial deposit	16,500	16,800	17,100	17,400	17,700
how much to bring at closing (balance of down payment and closing costs)	127,234	129,485	131,735	133,980	136,231
Principal, interest taxes and insurance/mo	3,163	3,221	3,278	3,336	3,393

CMA before writing an offer

In addition to providing quick calculations, I also prepared a Comparable Market Analysis (CMA) for this property so that they can see the recent activity. For example, a home on the same street was in contract after only 14 days. The property they're interested in is larger, has better views and in the market for 12 days.

And I remind them of the question we always ask at each property we see: "Will you be happy living here?"

My clients told me that they appreciate all the help and guidance they need to make an informed decision. I'm keeping my fingers crossed that I help this delightful young couple buy their first home where they will be happy for a long, long, time.

RELATED POST AND INFO

Fidelity Agent: A WOW tool for quick answers for real estate calculations --- for your computer and your PDA!

Don't know how to estimate PITI? Closing Costs? Copping out by deferring estimates to escrow officer?

My Fidelity National Title Company introduced me to Fidelity Agent. Here's how you can contact the folks for info and subscription:

Call FidelityAgent to talk to a representative

Corporate 757-271-1287
Toll free 1-866-629-5091
FidelityAgent Inc.
639 N Coalter Street
Staunton, VA 24401.

Or email us at support@FidelityAgent.com

On Wednesday, May 20 Bay East REALTORS® and staff met with the Hayward City Manager and other Hayward officials to discuss the latest version of their proposed "abandoned" properties ordinance. The City has not yet adopted this ordinance but seems intent on taking a purely regulatory approach to addressing blighted, vacant properties.

Bay East has been suggesting an alternative approach that's based on stepped-up enforcement of the existing community preservation ordinance and better promotion of efforts including the Neighborhood Partnership Program.

To review the latest version of the draft ordinance please click here.

Please note: This city has not yet adopted this ordinance.

Considering Moving to Hayward or to the East Bay? ~ Do you want to Buy or Sell a home?

Do you have clients with needs in the East Bay?

Search East Bay Area Properties

Visit my website at http://pamwinterbauer.com

Local Leadership Opportunities: The cities of Hayward and Pleasanton are seeking residents and local professionals to serve on several boards and commissions:

• Hayward: The City of Hayward has vacancies on the following boards and commissions - Citizens Advisory Commission, Human Services Commission, Library Commission, Economic Development Committee, Downtown Business Improvement Area Advisory Board and the Keep Hayward Clean and Green Task Force. For more information please visit the City of Hayward website at www.hayward-ca.gov or call: (510)454-8030.

Considering Moving to Hayward or to the East Bay? ~ Do you want to Buy or Sell a home?

Do you have clients with needs in the East Bay?

Search East Bay Area Properties

Visit my website at http://pamwinterbauer.com

Hayward residents will go to the polls on Tuesday, May 19, to vote on Measure A - the 5.5 percent utility tax for basic city services. The Bay East Association of REALTORS® endorses Measure A because it will provide critical funding for police and fire services to help make neighborhoods safer.

For more information about Measure A, please click here.

Considering Moving to Hayward or to the East Bay? ~ Do you want to Buy or Sell a home?

Do you have clients with needs in the East Bay?

Search East Bay Area Properties

Visit my website at http://pamwinterbauer.com