STATE OF THE HAYWARD MARKET
What is happening to real estate in Hayward? Well, the prices are UP somewhat, but the number of sales are DOWN a little over last year. The number of single family detached homes is way down from last year. Last year there were over seven hundred of these home for sale in Hayward. Now there are a little over two hundred. That is very good for sellers. Lower inventory means higher prices because there are less homes for buyers to choose from. Think about it. Buyers have pretty definite ideas about what means “home” to them. So, no matter who the buyer is, there are always very few homes that meet individual requirements. And then when the inventory is down, each buyer has fewer than ever to select from. All this is to say, if selling a home is in your plans, now is probably the best time in this year to put your home on the market. You will probably sell for less than you would like, but spring is traditionally the best time to sell.
What about interest rate? They are historically low, low, and they are projected to stay low for the rest of this year, probably increasing not more than one half of a percent. With interest rates low and home prices low, this is what we all dream about – to buy low and not have to pay an exorbitant price for the money we borrow.
Real Estate owned by banks in Hayward and sellers who are upsidedown with their mortagages have moderated somewhat so that at my last check 40% of the homes being offered for sale are straight sales. That, while it would be nice if the percentage were higher, is a big improvement over last year in Hayward. This gives buyers a more level playing field when negotiating their purchase. With banks, the buyer just has to do it the banks’ way or forget about being able to buy the home.
Come to Hayward and get the most for your money of any place in southern Alameda County. That is what I see right now in Hayward.