Their not making anymore land....Now is a good time to buy...You know, real estate only goes up...lies, lies, lies
Median home prices now at early 2003 levels:
Bakersfield homes are now selling for less than $100 a square foot, a price point not seen since early 2004, November sales analyzed by local appraiser Gary Crabtree show.
What’s more, November’s median price has so far dropped more than $14,000 from October’s number to $146,500.
Howe’s Hallmark Shop in Valley Plaza mall, a 20-year-old business, will launch a going-out-of business sale starting at 5 a.m. Friday.
It’s sad,” said owner Pat Howe. “A lot of people come to the mall specifically to see us.” The 3,800-square-foot shop will remain open through the New Year. Howe expects to close around Jan. 20.
A combination of higher rents and the slow economy made the decision unavoidable, Howe said.