Ok, its no secret that Bakersfield is in a DOWN real estate market. There are some positive things happening though that look like better times ahead. What I would like to talk about is how to capitalize on the down market.

First thing is if you are considering buying a home and do not have a home to sell, get out there and buy! Interest rates are still historically low & there are some great bargains out there. It may take a little time to sort through the 5,000+ homes on the market and find the great deals, but they are definitely there.

The problem is that a lot of people have a home they need to sell and are concerned about listing their home and not getting what they feel it is "worth". We have some very simple advice on that- If you are going to be buying up (a larger or more expensive home) now is the time to do it. You may not get as much for your existing home, but you will more than make up the difference on the new "buying up" home that you will purchase. For easy math lets say you would like to get $300,000 for your existing home and then buy a home around $400,000. If the market has came down 10% and you can only get $270,000 for your home you would also be able to get the new home for 10% less or $360,000. So you are ahead $10,000. The math is not always that simple but we would be more than happy to sit down with you and assess your current value and your future needs.

If you are looking to downsize on your next home or relocate to a new area, the same theory will work in reverse and it may be wise to hold out until things turn around a little. Please feel free to contact us anytime if you would like to discuss your homes value or receive a list of homes in your price range.

Have a great day!