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Home Buying in Hayward : Real Estate Advice

  • All296
  • Local Info17
  • Home Buying124
  • Home Selling17
  • Market Conditions10

Activity 123
Thu Mar 14, 2013
Pacita Dimacali answered:
Do you own the place where you have a roommate? In that case, the rent paid to you will be rental income (and you would factor that in preparing your income tax return, along with expenses incurred in maintaining the property)

But if you don't own, and the rent money doesn't go to you but rather to your landlord, then no, that isn't considered income.

When applying for a loan, you will typically provide
two most recent pay stubs or proof of sources of income
two most recent bank statements
two most recent tax returns
As well as other documents that your lender will require.

You should speak with a mortgage banker/broker to be preapproved -- and I suggest you do this before you even start looking for a property to buy. Knowing what you can afford, how much downpayment you will need, and what kind of loan you can get are all critical factors in your search.

Good luck
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Mon Apr 8, 2013
Mack McCoy answered:
Don't pay more than you want to, and if you keep losing properties to higher bidders, then recalibrate.
0 votes 16 answers Share Flag
Thu Feb 28, 2013
Steven Ornellas answered:
Hi ashley_rson:

Your Realtor® should be helping you answer what offer price is appropriate in the CURRENT MARKET after performing a Comparative Market Analysis.

If you do not currently have a Realtor® please find one before making an offer on any property.

You should avoid Dual Agency! There are specific duties an Agent must provide. When one individual represents both Buyer and Seller conflict between two of the most important duties occur.

“Dual Agency: Why should I NOT use the listing Agent to buy a house?”

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0 votes 9 answers Share Flag
Fri Nov 14, 2014
Samantha Bagwell answered:
Hello Ashley,

It really depends on the condition and the size of the home. Other factors could be:

-Are there multiple offers on the property?
-If there are multiple offers what price are you willing to offer without feeling like you over paid?

All in all in the past 3 months of the 28 homes that have closed only 4 homes went for below listed price and not by much.

Hope that helps.

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Mon Nov 25, 2013
Bill Eckler answered:
I'm totally unsure of regulations and studies on this topic but feel that in these cases, common sense should prevail. I for one would not buy in one of these locations and address these conditions with my customers from the esthetics view point, making certain they understand that resale value will likely be compromised. ... more
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Thu Nov 29, 2012
Pacita Dimacali answered:
Hayward has a pretty robust downtown with its new theater and several shops and restaurants. As a matter of fact, one of their fining dining (and wining) establishments is next to the City Hall. It's called Neumanali There are all kinds of things going on downtown, including farmer's market. Easy access via BART just behind City Hall.

As for what it's like....people will always answer life is what/how you make it....

I once asked a friend who was always relocated what his favorite place was. And he said wherever he is living at the moment. There's always something good/great to do, see. So enjoy!
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Thu Nov 1, 2012
Cindy Davis answered:
What you are describing certainly doesn't sound promising...your best bet however is to speak with a lender in your community about your particular financial picture. Only by meeting with someone personally, will you get a sold answer. ... more
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Fri Oct 26, 2012
The Medford Team answered:
This home WAS a foreclosure in 2009 – it was purchased with cash on 8/21/2009. Since it was purchased with cash, there is now no loan to foreclose, so I think it’s safe to say it won’t be available any time soon. ... more
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Thu Nov 1, 2012
Maria Cipollone answered:
After filing for banruptcy you may have to wait minimum three years, but you really need to work on your financial stability. Means, pay on time or before your credit cards or any other debt and contact a reliable mortgage broker, they have access to many private lenders and different financing programs.

Best of Luck,

Maria Cipollone
www.Century 21 Tenace
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Thu Nov 1, 2012
Maria Cipollone answered:
Is ok not to have credit cards, but you need to have at least two debts that can be helpful in your credit report showing that you pay on time. Contact a reliable mortgage broker, they have access to private lenders, banks and many different programs.

Best of Luck,

Maria Cipollone

Century 21 Tenace
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Thu Nov 1, 2012
Terri Vellios answered:
You will need to talk with a lender. They will want to see two years of income tax returns, recent pay stubs, a credit report to see if you have any established credit, they will want to know any liabilities you have.

Once you do this the lender will be the one tell you what they can do for you. It may only cost you a little time and perhaps a credit check fee maybe $35.
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Mon Sep 18, 2017
Meena Gujral answered:
Hello Erica,

If you have kids and need areas of good schools, then your choices are Pleasanton, San Ramon, Castro Valley and Fremont.

As far as being close to SFO, Fremont (Zip Code 94555) and Castro Valley are better choices since they are close to the Dumbarton and San Mateo Bridges respectively.

I used to live in Castro Valley for several years and it is a great city.The weather is good and there is plenty of family orientated events going on in the city. In your price range, you can focus on Palomares Hills and Five Canyons. We lived in Five Canyons and the homes there wer built built between 1995-2001.My children went to the schools in Castro Valley and we were very happy with the schools.

If you need any more information about any of these cities mentioned above, I would be happy to answer your questions.

Meena Gujral
Achievers Realty
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Fri Sep 28, 2012
Meena Gujral answered:
Hi Scott,

Are you trying to get some idea of how much your house is worth? I would be happy to help you with that. But without looking at your home, it is not easy to come up with a price.

Just to give you some idea, homes in the area are selling between $270K- $350K. Your house may be worth more depending on location, upgrades and curb appeal etc.

If you want me to give you a free comparative market analysis, I would be happy to help you.


Meena Gujral
Help-U-Sell Achievers Realty
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Sun Sep 22, 2013
The Medford Team answered:
You question doesn't quite make sense ... do you mean a property under $110,000?
0 votes 4 answers Share Flag
Mon Aug 27, 2012
Pranil Balram answered:
The listing agent has a fidiciary duty to submit the offer to the seller. there really is no way that you can find out if the listing agent actually presented the offer to the seller but if he/she did not than he/she is violating his/her fidiciary duty and the DRE will probally want to know about that. ... more
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Sun Aug 26, 2012
Pacita Dimacali answered:
First -- no, you can't contact the lender and the seller. You are not authorized to talk with the lender directly, and any attempt may confuse the issues and delay the process.

Do you have ALL pages of your accepted offer including the Short Sale Addendum? Then check to see how many days you agreed to wait --- the standard was 45 days from the time your offer was accepted by the sellers. If shorter than 45 days, and that date has expired, did you submit an extension?

When you said the listing agent "accidentally" listed the it now again "pending subject to lender approval"?

Please don't think the listing agent isn't doing his job. Chase is notoriously slow. Anything less than 3 months wait is short of a miracle. We had one that went on for 6 months. It's the luck of the draw as to whom you get as a set-up specialist (process the paperwork) and whom you have as the negotiator (the one who actually works with the investors to determine how much the investors are willing to accept in price, terms and conditions).

Ask your agent to continue communicating with the listing agent and find out if a BPO (broker's price opinion) was already done because that's a sign that the file is moving forward.

You should know what to expect in a short sale...if not, your agent should have prepared you as to what to expect. Please take time to read this
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Fri Aug 24, 2012
You can apply for an FHA 203k loan.
The lender will loan you up to $30k more than the purchase price for repairs. If there is more work to be done than that, you can receive more than the $30k, but you will need to have an appraisal done on future value (once all work is finished). The appraisal will need to include an architect's plans, licensed contractor's estimate complete with all the materials to be utilized.
In short, not an easy task for over $30k, but it can be done!
Email me if you would like more information. I am located in Fremont and Pleasanton.
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Thu Aug 9, 2012
Shanna Rogers answered:
Hi dungloan1998,

You would need to refer to your purchase contract. It should state reasons you can cancel contract without losing your ernest money deposit. You might want to talk to your Realtor too.

Shanna Rogers
SR Reatly
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Thu Jul 26, 2012
Scott Godzyk answered:
You should never base your offer on an asking price, determine what the value is in todays market and then base your offer on that. If the asking price is much lower than the asking price, then determine if there is any other offers, if not then you may want to try asking price but if so, it may sell for more than asking price. ... more
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Mon Jul 23, 2012
Ron Thomas answered:
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
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