Jessica Delaney

Hi John,

When you purchase any home there will always be pluses and minuses regardless of how old it is. My first home was built in 1895 and boy did it have some things that needed fixing! But the good part is all the victorian architecture that my family loves so much!

My best advice to you is to be sure that your Realtor does their due dilligence when it comes to home inspections! Any home can look great from the outside but when you climb into the attic or crawlspace, you can unearth many surprises. Some inspection reports may be offered by the sellers, but beware that the reports are current (within the last 6 months) and done by a reputable company (your realtor should know which inspection companies are good in your area).

Best of luck to you in your home search! Oh, and as a first time buyer, be sure to check out what types of services the city of Hayward has to offer you. Most cities have home buyer assistance programs of some sort.

~Jessica - Thu May 22 2008, 16:45

In addition to the Nehemiah national programs, most cities in the Bay Area have their own specific programs. I have several clients who are in the process of completing the Oakland Down Payment Assistance program right now. It is very easy, you just attend the classes to find out how much you qualify for and then work with a loan broker from there! You can check out the City of Oakland program for reference at
http://www.oaklandnet.com/government/hcd/loansgrants/addi.html

Get off that rent treadmill and grab your piece of the pie, when you look at your net worth after one year of home ownership, you won't regret it! Best of luck to you in your home search!

~Jessica - Thu May 22 2008, 16:32

Hi Dianna,

You are absolutely right! You have to account for what similiar size homes are selling for on that desireable street and then subtract what it would realistically take to get the fixer up to par with the comparable homes. However, it depends on what micro market you are buying in. For example, some would say that if you find any half way decent home in the Albany school district, you had better jump on it before the 12 other buyers find out about it!

I wish I could give you a hard and fast answer, but the truth is that everything in real esate is relative. And on that same note, everything is negotiable, so I would recommend to get with a trusted Realtor and let them do all the hard work for you! Best of luck in your home search!

~Jessica - Thu May 22 2008, 16:23

I would agree that Fruitvale is a very diverse and vibrant community. I would add that the character of the area can vary street by street (as in most urban areas) so I would recommend you connect with someone locally who can do some research (and drive by the house at different times of the day) to give you a true feel of what your experience would be like owning on that or any particular street.

I live in the nearby Allendale district which is very residential and tends to have a little less hustle and bustle, but again your experience will vary street by street and sometimes even block by block.

Good luck in your home search! - Thu May 22 2008, 15:51

Hi Roger,

It sounds like you are a pretty savvy buyer. I am hosting, along with some of my collegues, a Savvy Homebuyer's Seminar in May. We will be discussing local market trends and why and when it makes sense to buy and what that really means...the seminar will be held in Berkeley and it is free! We would love to have you come and bring all your knowledge and experience to share with the group. If you are interested, you can find out more about it at the link I posted below this message.

Cheers,
Jessica - Fri Apr 11 2008, 15:09

Hey Roger,

Its been a while since you posted this question...I'm curious, did you get the house you were looking to buy? There are so many REO properties in the East Bay right now. Most agents at this point should have worked on at least one REO deal or gone to seminars on how to negotiate with banks. It is unfortunate that so many folks are losing their homes, but it is also a great time to buy for those who can still qualify.

Best of luck to you! - Thu Apr 10 2008, 15:02