Tuesday, May 22, 2007

Final April 2007 numbers - Bakersfield down 7.7% YOY

April 2007 numbers from DQ News.com for all of California, by city and county are out.

Bakersfield continued its downward decent. Some much for the Realtors who claimed prices would never go down. Also, these numbers DO NOT INCLUDE INCENTIVES! If the incentives were included Bakersfield (along with all other cites) would be down much more. I would guesstimate that Bakersfield would be down 10-15% YOY.

Here are some of the numbers of selected Ca Cities:


BAKERSFIELD -7.74%

CLOVIS -17.82%

LAGUNA BEACH -35.09%

PISMO BEACH -36.71%

SAN LUIS OBISPO -7.60%

13 comments:

Bakersfield Bubble said...

Current Inventory 4,133 and growing!

This is getting uglier by the day. So much for the Spring Rally and Soft Landing we heard so much about...

Anonymous said...

I wonder what it will take for everyone else--media included--to seriously acknowledge the crisis. I suppose blood-in-the-streets is the only way for the general population to wake up. I can find 50 articles on the doom-n-gloom in Florida, but there's always one other that will say "we've reached bottom; things are turning around."

Anonymous said...

Real estate prices have dropped quite a bit here in Bako. They need to come down a hell of a lot more. I remember just over a year ago how all the re agents and loan officers were smug as could be. Fucccck them I hope that fat ass Mary Cruz loses her @ss along with the rest of the greedy slobs. 1200sf POS for 300k yeah right. My middle finger is in the air for all the re $hit bags. Just remember people, these scum bags would have loved it if property went up 1000% over 99' prices. '!' you.

Adam Smith said...

Amazing how many so-called real estate professionals seem entirely oblivious to the fact that prices are CYCLICAL: they go up AND down.

The "slump" we're seeing is no more unnatural than that "boom" run-up we've seen: BOTH are part of the cycle (and people want to forget that, which is only human nature, I guess). The bigger the "boom", the greater the "bust". The drop is called 'reversion to the mean' in statistics, and it's an immutable fact.

Just a suggestion, BB: it is always helpful to add a minus (-) sign to those numbers just to clarify that they're depreciating, not appreciating.

I know it seems redundant, but after (7) years of only witnessing prices going UP, it's good to remind readers with minus signs that prices also go down, and in fact MUST go down when fundamentals get out of alignment (such as the disconnect between area salaries and home prices, as driven by speculative buyers).

Anonymous said...

I am always confused by DQNEWS averages. Look at Santa Barbara County...It has the average at +15.88 but if you look at the individual cities below that there is no way it equals the average. Do you think this is mis-print?

I have seen this a lot.

Mark said...

Wonder what the numbers are going to read this time next year- YOY? When is the next large wave of exotic mortgage resets?


How many Loan companys/Banks, Real Estate companys, Home Builders, Title Companys are going to be history? I know the number is growing daily.

Anonymous said...

Criteria: Property Type Residential Property Subtypes Single Family, HUD Price 1,000,000,000 or less

4610 listing(s) found.

The number of listings found exceeds the limit for this search. In order to optimize system performance, the maximum number of listings allowed is 50.

Click the Revise Criteria button to return to the previous page.

Bakersfield Bubble said...

The minus sign looks better, unless of course you are on the NOD list!?!?

Bakersfield Bubble said...

On the DQ numbers. Some areas have very small transactions so the percentages can be up or down rather significantly and not truely reflect whats going on in the market. IMO

Anonymous said...

My home in OC is now down 90-100k, or about 10% from peak, i'll get over it. The median has been basically flat and the Resale SFR up. Now, we all know what the median is and use a grain of salt with it. When I see down 7.7yoy I know its a hell of a lot worse.

celina said...

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Benjamin Franklin said...

Celina said:

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Well if that ain't the stupidest idea I've ever heard: buying real estate in a foreign land that is 10,000 miles away! Don't people stop and think? Even once!?!

xs10shell said...

Ben Franklin - think about the reverse. I bet if we could unravel all the owners of property in the US you would find tons of people from "10,000 miles away" (Korea, China, India, etc.)investing in real estate here.