The most desireable area of Hayward is the Hayward Hills area atop of California State University Campus. There are some very beautiful homes with great views of the bay, hills and canyons. Most of the custom homes are located there. Fairview area is also a very good area of Hayward as well.... more
Fairview is a nice hillside district, but there are others that are attractive too, like Fairway Park and Southgate. There is also Hayward Highland/Stonebrae, which are very nice hilltop homes (many new) near the TPC Stonebrae golf course at the top of Hayward Blvd..... more
Not all the properties showing on RealtyTrac are foreclosed. Many of them are on that list because the property owners have received a Notice of Default and later, a Notice of Trustee Sale.
When property owners are in distress and miss their mortgage payments, or are delinquent in their taxes after so many months, they are served the notice of default. At that point of time, they have several options to cure that default: forbearance, reinstatement, loan modification. And if they have no choice but to walk away, they may list the house for sale as a short sale.
BUT! The price that you see on RealtyTrac is not necessarily the price they will list it for.
If they are unable to sell the house as a short sale (very long process, and very difficult to get approval if there is more than one lender, and nearly impossible if there are different lenders), then the owner can surrender the property via deed in lieu of foreclosure, or file for bankruptcy.
Before a foreclosure, the owner may be served a Notice of Trustee Sale (and this will also be picked up by RealtyTrac) where it will be posted for bid at the county courthouse on a certain date. If no one bids, then the ownership reverts to the lender.
2-3 months after the foreclosure, the lender's asset manager will engage a realtor from among a list of REO (real estate owned) agents who will market it for sale at, close to, or below market price.
Bottom line: what you see on RealtyTrac as the price is NOT the price it will list for. That number that you see is more than likely the amount of delinquency.
If you're interested in finding foreclosures that are already offered for sale, engage a realtor to find these properties for you. You realtor can uncover relevant information that may be helpful to you in submitting and negotiating your offer.
Good luck!... more
I'm not a financial advisor, but I'd be prepared for the value in 5 years to be below $500K. They may go up, but Hayward, according even to the trulia guides is depreciating. I would be especially wary of newer construction in areas plagued by forclosures.... more
With new homes it really depends on how long it is going to take the builder to sell all the homes. If it is taking too long, they will keep reducing till they get rid of all the inventory or they stop building more for a while till all the ones in the previous phase have sold. They may even offer more free upgrades and options instead of reducing the price or do a little of both.
You should really check with Stonebrae as to what their current situation is.
As far as waiting till October, after checking with Stonebrae, you will know more. Maybe you may have longer to wait for your house to be built because of the weather in the winter and the rains, they may slow down. So it depends on when you want to move in the new house.
If I can be of any help, please let me know. You can reach me at 510-279-9580.
Help-U-Sell Achievers Realty
40083 Mission Blvd
Fremont, Ca. 94539... more
It's been a mixed bag and depends a lot on which lender you are dealing with and whether you are dealing with a senior or junior lien holder. I have had case workers who tried to work with me and others who had a total take it or leave attitude. I have lost buyers because the bank sat on the full price offer too long and then they demand that the seller sign a note for the full deficiency not considering that a higher offer was lost because of their slow response. The best thing you can do is keep calling the loss mitigation department. The squeeky wheel gets the grease (eventually).... more
Are you looking for raw price data or for data on appreciation rates? Although I don't have 30-years worth, a few weeks ago I charted appreciation data for the area, using data from OFHEO and the Case-Shiller Home Price Index. Send email to me at email@example.com and I'll share my charts with you.
Chuck Zissman... more