Monday, September 18, 2006

RUNWAY IS TOO SHORT FOR A SOFT LANDING

From realtytimes.com we get an update from local realtor Chuck Doremus:

"The experts predicted a soft landing with the real estate market; however, it seems we have landed on too short a runway for some. Some of those investors who purchased properties to "flip" them for a quick profit have found they are on that short runway, and are now faced with having to dump the properties or rent them at a negative cash flow. As of mid-September there were 4,697 single family residences on the market"

http://realtytimes.com/rtmcrcond/

California~Bakersfield~charleswdoremus

18 comments:

Anonymous said...

I spent a few months in BField working construction. Can't imagine buying down there, but to each his own.

Big inventory can't be good for prices.

smoggiebakersfield said...

I don't feel a bit of sorrow for the stinking, greedy speculators/
investers that played their part in this mess. In fact I hope their new home is under the Kern River bridge!

christiangustafson said...

This cannot possibly be true. Everyone wants to live in Bakersfield!

smoggiebakersfield said...

Au Contraire my friend. The mass exdous of all the friendly folks coming from LA to Bako makes our little slice of heaven wonderful!

I love to drive to work everyday and chat with our wonderful new neighbors, via the middle finger.

Anonymous said...

Crispy can you log on to Ben's blog? I cannot get access.

Thanks,

P'cola Popper

Bakersfield Bubble said...

P'cola Popper -

NO! Not sure why either. I will email him and ask.

Anonymous said...

Any news?

Ben's been down for over an hour! I guess the new server blew up or maybe Ben finally got jacked by the REIC.

I'll check by again later for news if Ben doesn't get up and running.

Take care,

P'cola Popper

Rob Dawg said...

Ben's HB is down but money and metals is up with no news.

"BFd" is the new "F*ck'd Up"

Man did you see that car go off the cliff? The driver has got to be Bakersfielded something awful!

Perp walk, perp walk, I can't wait. Is the runway also too short for a private jet to sneak away in the night?

Bakersfield Bubble said...

Robert-

The noose is getting very tight! I wish I could tell all the information I have, but lets just say its not looking good (for him - LOL). I will say that a local reporter contacted some individuals and was asking questions about this clown - He confirmed that he knew of the office raid.

Ventura prices up 1%. When does Ventura county go negative?

Ben said that his server is down and he is trying to get it back up.

Rob Dawg said...

Ventura +1.0% is statisticially meaningless. Given the huge gains last year Sept is sure to be down y-o-y. All this is typical for VenCo. Remember we are an anomaly of the urban counties. We have growth controls and a diversified economy. Agriculture is still the number one industry in a place that is the HQ for Amgen and Countrywide. At least for now. Ag is getting killed by developers and free trade, Amgen hints at moving to Colorado and I don't blame them and then there's Countrywide and boy do I ever blame them. I only hope they get mixed up in anything bad that might go down in say Bakersfield. If only someone would leave anon comments on my blog my curiousity might be sated.

Bakersfield Bubble said...

If only someone would leave anon comments on my blog my curiousity might be sated.
___________________

LOL.

Chip said...

All -- thanks for the updates re Ben's blog. It's frustrating when you can't figure out what's going on. Fortunately, he has so many friends with their own blogs, like Crispy here, that we can hunt around and get news. I was afraid that my spam filter had somehow gone berserk and shut me out.

Chip said...

That feels like a very tacky thing to have posted, Crispy -- sorry.

"Hi, Crispy, nice blog you have here -- do know what's up with Ben" was not the defining moment of personal suavity. I'm a regular reader of your blog and of those others whose posts we read daily. Haven't been to Bakersfield yet, but hope to someday. Especially if Dwight still plays there.

Bakersfield Bubble said...

Chip-

No problem. It sucks when his blog is down - I consider it the mecca (no offense please) of blogs. Mine is a second rate blog at best. LOL. Hopefully he will back up tommorow.

betamax said...

Ben's blog is indeed the mecca, the mothership, of blogs.

But this blog is good also. I don't post here much, but I have it bookmarked and check it daily. Keep up the good work!

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