Are home values in Kern County going up or down?
If you compare the average sale price in May 2005 to July 2007 the results are
showing a stable sale price:
Average Sold Prices increased by 2.3%!
Matt Anzaldo's Opinion:
The home values are going down. Since May the average
home price has increased which is a good sign for real estate
market, right? Not really because most of these homes sold for
less than there asking price or prior sale price. The real estate
market is changing from declining to stable from the "boom" of
2004-2005, the market needs more buyers and less active
listings for the values to increase.
Is the Real Estate Market in Kern County ever going to get better?
If you compare the total units sold in May 2007 to July 2007 the result:
Total Units Sold increased 20.52%!
Matt Anzaldo's Opinion:
Yes, the Real Estate Market will get better. There are more
home listings therefore more homes are selling which can be a
great sign for real estate agents. Real Estate Agents may have
to show more homes and work harder than they did a couple of
years ago but it seems the number of sold units per month is
increasing which is a positive sign in this real estate market.
Is the Real Estate Market in Kern County Going Down?
If you compare the total number of active listings in May 2007 to July 2007 the result:
Active Listings Have Increased 7.31%!
Matt Anzaldo's Opinion:
Yes, the Real Estate Market in going down. Real Estate Listing
are increasing which in not good for the local housing market.
Buyer's can negotiate the asking price or ask for concessions
that will bring down the selling price of most homes. There are
just too many homes for sell without enough buyers.
Are homes prices going up or down?
Average Sold Prices decreased by .05%!
Real Estate Appraiser Matt Anzaldo's Opinion:
"In the last three years sold prices have been the same which is a positive sign that the market may be correcting itself from the roller coaster ride it's been on in the last four years."
For More Information about Matt Anzaldo go to : KernCountyAppraisal.com.
How Low is the Bakersfield Real Estate Market?
If you compare the total units sold in June 2005 to June 2007 the results could be shocking:
Total Units Sold decreased 22%!
Real Estate Appraiser Matt Anzaldo's Opinion:
"Experts predict the market to decline another 6% before stabilizing in 2008. Expect the market to increase in two years in the year 2009"
For More Information about Matt Anzaldo go to : KernContyAppraisal.com
Why is the Bakersfield Real Estate Market
Active Listings Have Increased 563%!
Real Estate Appraiser Matt Anzaldo's Opinion:
Bakersfield Real Estate Appraisal - from an appraiser's point of view.
I did an appraisal for a house in East Bakersfield in August 2007.
The home was built in 1950's and was an "oddball".
It had a main house that was 1000 sq ft and a guest house built on top of the garage that was 500 sq ft.
The main house had a basement and two bedrooms and 1 bath with a full kitchen and unfinished basement below with concrete floor and a fireplace.
After looking at the comparbales in the area I noticed there were very few homes that were similar.
But, I was able to find four comparables: two houses that have a main house without a guest house and two houses with a guest house.
The houses without a guest house sold for more money than the homes with guest house.
Appraiser's Comment: "If you have the option to buy a house with a guest house it's worth less than a property that has the same square footage without a guest house."