Bakersfield, California, is located in Kern County, situated just a little over an hour north west of Los Angeles. With a population of 247,057, it has become a popular place for visitors, en route to and from Las Vegas and Los Angeles, who stop for outdoor adventures such as whitewater rafting on the Kern River or hot air ballooning over the San Joaquin Valley.
Residential real estate here offers many types and styles of homes. Bakersfield also offers community events, outdoor activities and family friendly atmosphere.
Home buyers seduced by low interest rates and state and federal tax incentives are storming the local real estate market and finding inventory has suddenly sharply reduced. Multiple offers above list price are not uncommon in today. Josephine Cullison, branch manager of Miramar Real Estate Group is quoted in a recent blog post, “Have we forgotten the lessons of overpaying during the last real estate frenzy?” “There are some crazy things going on in the market right now, that’s all I can tell you,” In the last two weeks, she’s written 17 offers for clients, many of them above list price.
Prices on Oildale homes (the 93308 zip code) are lower than the median price of homes in the overall Bakersfield area according to figures on Trulia. Trulia lists the average listing price on homes for sale in this neighborhood at $214,382 for the week ending July 1, 2009. They have the average listing prices of homes for sale in the greater Bakersfield area for the week ending July 1, 2009 at $247,144.
The median sales price of existing single-family homes in the greater Bakersfield area increased $10,000, or 8%, from May to June to $135,000, according to The Preliminary Crabtree Report, a monthly real estate report produced by Gary Crabtree of Affiliated Appraisers. There were 1,390 active listings in June, down 7.6 percent from 1,504 in May and down 57 percent from 3,232 in June of last year, Crabtree’s report said.
The internet provides a wealth of information for anyone who wants to buy real estate. 203k Renovation loans are available throughout the Bakersfield market and USDA Rural Development programs are available in some of the surrounding areas. The USDA program offer’s 100% home financing at a reduced interest rate and no private mortgage insurance which leads to a lower monthly payment when compared to conventional financing.
No doubt, Bakersfield is considered to be a great city to live in. With its increasing economy, there is beautiful opportunity to be had. Nice parks, shopping and a wide variety of recreational activities including hunting, fishing, camping, golfing, boating, car racing, biking and much more.
If you are thinking of buying or selling a home in or around Bakersfield California, contact a local expert, someone familiar with the local market conditions and the ins and outs of financing options.
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[tags]Bakersfield California Real Estate, Bakersfield California Real Estate leads,[/tags]
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