January 17, 2014

Selling Shortly in Hayward

Let’s visit the East Bay today, always good for a fresh angle. 

140116-ocie-redfin466 OCIE Way
Hayward, CA 94541
$460,000

3 Beds
1.5 Baths
1,185 Sq. Ft.
$388 / Sq. Ft.
Built: 1958
Lot Size: 5,005 Sq. Ft.
On Redfin: 14 days
Status: Active
Type: Detached
Stories: 1
Community: Alameda
MLS#: 40641549
Style: Ranch
View: Other
County: Alameda

Great Opportunity! Easy access to Hwy 880 and 92. House Needs TLC. 3 bedrooms one and a half bath. As is Sale.

140116-ocie-tiltWe’re going to take this one if this is really As it Is —>

And while some of the interior shots are almost maddeningly normal, fortunately the agent did not disappoint us with this careful study of the dining room.

140116-ocie-dining

One could almost think the Real Estate Professional was so excited about this Great Opportunity that she couldn’t be bothered to focus the iPhone before running to her car to post the shots.

Comments (10) -- Posted by: madhaus @ 7:06 am

10 Responses to “Selling Shortly in Hayward”

  1. waiting_for_the_fall Says:

    maybe he’s trying to make a subtle statement: home prices are slowly tilting and you will soon be upside down after buying this crapbox.

  2. nomadic Says:

    I know I often point this shit out, but WTF? The current owners bought this dump TWENTY YEARS ago for $160k and now it’s a short sale???

    Was it the $2600/year property tax that broke them?

  3. waiting_for_the_fall Says:

    the house was an ATM that ran out of $$

  4. Zak Says:

    I have been looking at a coastal home (not even close to RBA) and thought I might take the advice of experts at Burbed. I am intentionally being vague about the location. I don’t want anyone to get the idea that I am a realtor trying to sell a house to the Burbed readers.

    The lot size is 1 acre. Built up area is 1900 SF with 4 bd and 3.5 ba. The kitchen was recently upgraded and is really nice. This is not a manufactured home and is located inside the city limits. The lot ends at a river and is a short walk from the coast. Asking price is 250K. It could be used as a vacation rental. Rent could be up to $300 a day and it would typically be occupied on holidays and summer weekends.

    Would Burbed readers consider this a good investment?

    Zak

  5. Mole Man Says:

    Zak, I’m afraid it sounds like your potential investment is outside the Real Bay Area, and is therefore doomed.

  6. nomadic Says:

    Depends on your expected tenancy rate, Zak. $300/day for how many days a month?

    Given that it’s outside of the RBA, you can’t make any profit from appreciation so you need to make sure cash flow covers all expenses plus your desired profit. ;-)

  7. Zak Says:

    Nomadic,

    Thanks. I plan discuss the expected occupancy rate and expected expenses with the rental agency that will help me manage the property. I will only proceed if the number add up. I agree that there is no scope of appreciation. The property has been sitting on Zillow for several months now.

    Zak

  8. InTheBiz Says:

    That Hayward home is obviously in the Hayward Hills. The dining room furniture is nailed down so it doesn’t slide into the living room.

  9. wave9x Says:

    @Nomadic, I have seen this often, where a house bought a long time ago at a low price becomes a short sale. The reason often is home equity loans – people used their house as an ATM, ran up massive home equity debt that exceeds the current value of the house.

  10. nomadic Says:

    wave9x, maybe I should have used a sarcasm tag.


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