Wednesday, August 22, 2007

Bakersfield prices down 10.20% YOY

Homes prices for July 2007 are out:

  • Bakersfield -10.20%

Lets see inventory is up, credit tightening, foreclosures are up, etc...

(hat tip Lander)

16 comments:

WaitingToBuy said...

Awesome...5717 total properties on Btown mls right now. 4550 of which are single family homes. I don't see the fall slowing down anytime soon.

Gwynster said...

Something I never thought I'd see - prices down farther in a year in Davis, Ca then Bakerfield.

Davis, Ca % change -17.37%

Now let's here more Crispy drunken meltdown stories! >; )

Bakersfield Bubble said...

LMAO!!!

Gwynster said...

damn typo - i mean let's hear more

Rob Dawg said...

BB,
Hows about some green pool pics from Seven Oaks or Crisp Acres? I showed you mine, you show us yours.

As to Davis; go go go. UCD is in my eldest's top three picks. Freshman year in the dorm and then she can manage my college adjacent investment property. Stay in one room, rent the other two and get "paid" a mangement fee. All on $250k repo. Yeah baby, bring it on. Heck, cheaper than buying one of those fancy high-rise condos on the Bakersfield Community College campus I hear they are building. Besides all the world class conventions would be a distraction.

Bakersfield Bubble said...

I am going to get some pics this weekend of some green pools & brown lawns.

xs10shell said...

There's some activity at those building on Stockdale across from CSUB. Anybody know what's going on?

Bakersfield Bubble said...

FED funds rate now @ 4.77% - stealth rate cut continues.

Gwynster said...

Rob, rents here are are falling big time. People can't unload the MFRs fast enough. The time to buy in Davis was 95 to 98.

TheFunSucker said...

Here's an update on 2444 Ollie Ct in Shilo Estates.

I posted earlier that I attended an auction of this property about month ago. This specific house had been listed for nearly two years at over 600k and then bottomed out at 534k.

So last month it was finally auctioned off for 400k (the relo co had purchased it for over 600k). At this auction were several RE dorks in their 7 series bimmers and dorked escalades. One of those dorks was Gary Kornbau of Coldwell Banker. Looking back on it I now realize why he was there, he was with the the poor saps who bought the place. It is now listed for 534,900.00....are these people retarded?! If it didn't sell in the good ol days of insanity why in god's name would you buy it and try to flip it today!!!!!!!!

I cannot believe there are people like these that are trying to flip homes in todays market!

If these idiots would quit buying this market would crash faster, I'm not a patient man!

Rob Dawg said...

Rob, rents here are are falling big time. People can't unload the MFRs fast enough. The time to buy in Davis was 95 to 98.

Yes, I know. Exactly according to my evil plan. Heh, heh, haw haw, pinky to corner of mouth.

Sure the time to buy in Davis was '95. I knew that. Twas when I bought my current primary Dawg House for the same reasons minus the University. Time to buy again will be '09-'10 when the local economy is decimated by the housing bubble, rents are so low ROI appears non-existent, potential for appreciation is a distant memory and the kids will still need housing.

Gwynster said...

ok now my next question: why UCD? vet school?

Rob Dawg said...

Sorta, organo-bio-genosciences. Then there's the perks. Far enough away from the parents but not too far. Likely incentives (Capt of the Golf team, top 20 of 600, 4-H leadership core, Girl Scout Gold Award, all AP, prefered source school, etc). And she liked the layout and town. She liked Bezerkley and 'Vard as well. 'Vard may start a bidding war due to their specific geography and diversity preferences so we'll see.

Gwynster said...

OK for plant genetics we're hard to beat. Berkeley has a lot more more going on student activity-wise and the area just has more going on period. All there is to do here is study, drink and have sex with shallow althetics majors. And frankly most students will do anything to avoid studying.

Anot to mention that Berkeley has our weather beat all to hell - that's a given.

I will say that anyone with bad allergies and athsma, don't come here. I have athsma and I go to the Pasadena foothills to give my lungs a rest >; )

I pray for Vanderbilt or Duke to make me an offer I can't refuse everyday.

Phil said...

gwynster, where did you locate the -17.37% change in Davis at? Just curious...

Gwynster said...

DQ July numbers
http://www.dqnews.com/ZIPCAR.shtm
95616 is central Davis