The Cope Real Estate Team's Bloghttp://www.871cope.com/blogBakersfield CA real estate market news provided by Keller Williams RealtyWed, 09 Apr 2008 10:26:00 GMTmaking home affordable foreclosure alternativesmaking home affordable program alternatives- short sales & deed-in-lieu of foreclosure programs are now available and are better than ever. short sale is where we negotiate for bank to take less than whats owed on property. deed i lieu (dil) is where you willingly sign the house back over before the house goes into foreclosure. HAMP has implemented a program that is supposed to make this propcess smoother than it had been. its suppose to take place starting 04/2010. lets wait and see

nicole brown -realtor  661-363-3547

]]>http://www.871cope.com/Blog/making-home-affordable-foreclosure-alternativeshttp://www.871cope.com/Blog/making-home-affordable-foreclosure-alternativesThu, 03 Dec 2009 17:56:00 GMTNew Location!Keller Williams Realty and The Cope Real Estate Team are proud to announce our move to a new office location!

We are now located at 5351 Olive Drive, Bakersfield, CA 93308. It is a beautiful building with over 14,000 square feet that will allow us to grow our business!

Stop by and visit anytime, we will also be holding an open house/Christmas gathering on Saturday Dec 5th at 5pm. Please come on out and meet Santa, listen to some local high school choirs, and enjoy good food and drinks!

Jared

]]>http://www.871cope.com/Blog/New-Locationhttp://www.871cope.com/Blog/New-LocationThu, 05 Nov 2009 10:34:00 GMTAugust Market UpdateAll numbers are as of today 9-3-2009 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR) listed in Bakersfield (BA).

1,192 homes active on the market      

277 of those are bank owned properties      

349 are "short sales" or pre-foreclosure sales 

687 are contingent (waiting on an approval, signature, etc... to become pending

1,221 are in escrow or pending sale (that is excluding anything that went pending prior to 6-1-2009)      

583 of those are bank owned properties      

271 are "short sales"      

and there were 568 homes sold or closed escrow in August 2009 with      

332 of those being bank owned and      

76 being short sales

Please feel free to call or email for any more detailed information on your neighborhood!

]]>http://www.871cope.com/Blog/August-Market-Updatehttp://www.871cope.com/Blog/August-Market-UpdateThu, 03 Sep 2009 18:56:00 GMTJuly Market Update

All numbers are as of today 8-3-2009 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR) listed in Bakersfield (BA).

1,211 homes active on the market      

272 of those are bank owned properties      

362 are "short sales" or pre-foreclosure sales 

663 are contingent (waiting on an approval, signature, etc... to become pending

1,184 are in escrow or pending sale (that is excluding anything that went pending prior to 5-1-2009)      

635 of those are bank owned properties      

361 are "short sales"      

and there were 585 homes sold or closed escrow in July 2009 with      

363 of those being bank owned and      

63 being short sales

Please feel free to call or email for any more detailed information on your neighborhood!

]]>http://www.871cope.com/Blog/July-Market-Updatehttp://www.871cope.com/Blog/July-Market-UpdateMon, 03 Aug 2009 14:42:00 GMTJune Market Update

All numbers are as of today 7-6-2009 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR) listed in Bakersfield (BA).

1,249 homes active on the market      

305 of those are bank owned properties      

401 are "short sales" or pre-foreclosure sales      

1,206 are in escrow or pending sale (that is excluding anything that went pending prior to 4-1-2009)      

623 of those are bank owned properties      

241 are "short sales"      

and there were 662 homes sold or closed escrow in June 2009 with      

419 of those being bank owned and      

86 being short sales

Please feel free to call or email for any more detailed information on your neighborhood!

]]>http://www.871cope.com/Blog/June-Market-Update-2http://www.871cope.com/Blog/June-Market-Update-2Mon, 06 Jul 2009 18:30:00 GMTApril Market Update

All numbers are as of today 5-10-2009 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR) listed in Bakersfield (BA).

1,924 homes active on the market      

412 of those are bank owned properties      

922 are "short sales" or pre-foreclosure sales      

1,415 are in escrow or pending sale (that is excluding anything that went pending prior to 2-1-2009)      

878 of those are bank owned properties      

233 are "short sales"      

and there were 719 homes sold or closed escrow in April 2009 with      

553 of those being bank owned and      

56 being short sales

Please feel free to call or email for any more detailed information on your neighborhood!

]]>http://www.871cope.com/Blog/April-Market-Updatehttp://www.871cope.com/Blog/April-Market-UpdateSun, 10 May 2009 00:00:00 GMTFebruary Market UpdateAll numbers are as of today 3-9-2009 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

2,403 homes active on the market      

767 of those are bank owned properties      

945 are "short sales" or pre-foreclosure sales      

1,328 are in escrow or pending sale (that is excluding anything that went pending prior to 12-1-2008)      

956 of those are bank owned properties      

170 are "short sales"      

and there were 537 homes sold or closed escrow in January 2009 with      

425 of those being bank owned and      

43 being short sales

Please feel free to call or email for any more detailed information on your neighborhood!

]]>http://www.871cope.com/Blog/February-Market-Updatehttp://www.871cope.com/Blog/February-Market-UpdateMon, 09 Mar 2009 16:21:00 GMTWhat do the market numbers mean?We publish a market report almost every month and I wanted to discuss a few points and trends we are seeing.

The market data we publish is based on all of the single family properties in the Bakersfield Multiple Listing Service. This data covers much of Kern County, for example if we used Bakersfield only for the month of January there would only be 2,542 homes on the market instead of the 3,379 that were reported.

This data also only includes single family properties. If we were to include all other categories (residential income, vacant land, etc...) for the month of January we would have 4,032 listed properties on the market.

The idea behind the report is not to know the exact number or properties available or sold (because there are a 100 ways to find this with each one being different) but to watch for trends rather good or bad in the market.

The biggest trend that has appeared over the past several months is a decrease in available properties. Sales have remained pretty stable with a slight fluctuation for the time of year, but available listings have steadily decreased over the past several months. This could be very important in the correction of our local market that was recently reported as one of the top 10 worst markets in the nation.

Less inventory will mean more demand and that will mean increasing values! Something we have not seen for quite a while in the greater Bakersfield area. I do not think this is going to happen instantly, but keep an eye on the inventory of homes because that will be a sure indicator of better (or worse) times ahead!

 

Jared

 

]]>http://www.871cope.com/Blog/What-do-the-market-numbers-meanhttp://www.871cope.com/Blog/What-do-the-market-numbers-meanSun, 01 Feb 2009 14:29:00 GMTJanuary Market UpdateAll numbers are as of today 2-1-2009 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

3,379 homes active on the market      

1,335 of those are bank owned properties      

1,094 are "short sales" or pre-foreclosure sales      

1,342 are in escrow or pending sale (that is excluding anything that went pending prior to 11-1-2008)      

1,024 of those are bank owned properties      

153 are "short sales"      

and there were 487 homes sold or closed escrow in January 2009 with      

374 of those being bank owned and      

39 being short sales      

Have a great day!

]]>http://www.871cope.com/Blog/January-Market-Updatehttp://www.871cope.com/Blog/January-Market-UpdateSun, 01 Feb 2009 14:15:00 GMTNovember Market UpdateAll numbers are as of today 12-2-2008 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

3,780 homes active on the market      

1,463 of those are bank owned properties      

1,169 are "short sales" or pre-foreclosure sales      

1,295 are in escrow or pending sale (that is excluding anything that went pending prior to 9-1-2008)      

975 of those are bank owned properties      

151 are "short sales"      

and there were 448 homes sold or closed escrow in October 2008 with      

336 of those being bank owned and      

41 being short sales      

Have a great day!

]]>http://www.871cope.com/Blog/November-Market-Updatehttp://www.871cope.com/Blog/November-Market-UpdateTue, 02 Dec 2008 13:24:00 GMTAnother Foreclosure FreezeThe Federal Housing Finance Agency, which seized Fannie Mae and Freddie Mac in September, announced the suspension of all foreclosure and eviction proceedings between Nov. 26 and Jan. 9, 2009, in an effort to give its newly created rescue plan a chance to work. It is yet unclear whether other financial institutions will follow suit with this new freeze. This is not the first foreclosure freeze this year and I am sure it will not be the last. This may not be big news in some areas but for potential buyers or sellers in the Bakersfield area this can have a big impact.

Roughy 70% of sales in most areas of town are bank owned REO properties. If you take all of those out of the picture for any period of time there will be a huge decrease in inventory. This is not the gradual decrease and correction that is bound to happen but instead an all of the sudden drop in the number of available homes. That can make things more difficult if you are currently looking for a home and are going to have a lot less options to choose from. If you are trying to sell right now this may be great news. Your slightly overpriced property now may be a lot more attractive when there are not 10 bank owned homes for sale down the street at 20k less!

The upside across the board though is that the financial institutions are going to take this time to try and help homeowners that have legitimate hardships. If you are having problems with your mortgage and are concerned about making future payments, I highly recommend contacting your mortgage company now and seeing what they can do to help!

Have a great week!

Jared

]]>http://www.871cope.com/Blog/Another-Foreclosure-Freezehttp://www.871cope.com/Blog/Another-Foreclosure-FreezeSun, 23 Nov 2008 21:15:00 GMTClient Appreciation Free Pie Day!The Cope Real Estate Team would like to invite you to come by and pick up a free pie on Wednesday the 26th between 12-6pm at our office located at 1500 Haggin Oaks Drive, Suite 100 Bakersfield, CA 93311.

 

In our appreciation of your past and future business we will be offering a free & delicious Thanksgiving pie from Happy Jack's Hamburger & Pie! You will have a choice of either a traditional pumpkin pie or Happy Jacks very own Rudy pie (Chocolate & Peanut Butter).

 

Please RSVP by email at Jared@871Cope.com or call with your pie choice. I look forward to seeing you all then!

]]>http://www.871cope.com/Blog/Client-Appreciation-Free-Pie-Dayhttp://www.871cope.com/Blog/Client-Appreciation-Free-Pie-DaySun, 02 Nov 2008 16:00:00 GMTGood News for Veterans!On September 11, the House of Representatives passed the Veterans Construction and Extension Act of 2008, which helps Veterans achieve their dreams of home ownership. The legislation provides assistance for veterans who need to refinance their Sub prime or adjustable rate loans into a safer, more affordable loan backed by the US Department of Veterans Affairs. The bill has been passed on to the Senate for finalization. If you're in the market for a home, contact us for information on FHA, VA, and other mortgage programs that might be right for you.

]]>http://www.871cope.com/Blog/Good-News-for-Veteranshttp://www.871cope.com/Blog/Good-News-for-VeteransSun, 02 Nov 2008 15:58:00 GMTOctober Market Update

3,893 homes active on the market      

1,452 of those are bank owned properties      

1,234 are "short sales" or pre-foreclosure sales      

1,382 are in escrow or pending sale (that is excluding anything that went pending prior to 8-1-2008)      

992 of those are bank owned properties      

191 are "short sales"      

and there were 549 homes sold or closed escrow in October 2008 with      

371 of those being bank owned and      

65 being short sales      

Please give us a call or email with any questions or if you would like more detailed market information.

Have a great day!

]]>http://www.871cope.com/Blog/October-Market-Updatehttp://www.871cope.com/Blog/October-Market-UpdateSun, 02 Nov 2008 15:34:00 GMTAugust Local Market UpdateAll numbers are as of today 9-22-2008 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

4,002 homes active on the market       -202     From last month

1,277 of those are bank owned properties       +35

1,276 are "short sales" or pre-foreclosure sales       -78

1,518 are in escrow or pending sale (that is excluding anything that went pending prior to 6-1-2007)       -7

1000 of those are bank owned properties       +29

244 are "short sales"       +14

and there were 672 homes sold or closed escrow in August 2008 with       +44

435 of those being bank owned and       +41

56 being short sales       +14

]]>http://www.871cope.com/Blog/August-Local-Market-Updatehttp://www.871cope.com/Blog/August-Local-Market-UpdateMon, 13 Oct 2008 11:26:00 GMTKeller Williams Real EstateAll of us at The Cope Real Estate Team are proud to announce our recent association with Keller Williams Realty of Bakersfield. Keller Williams became the fourth-largest U.S. residential real estate firm in North America in 2006 and has an outstanding reputation for success, integrity, and great customer service.

Our office is now located at 1500 Haggin Oaks, Suite 100 Bakersfield, CA 93311. We will continue to serve the greater Bakersfield area and provide the top notch customer service that you deserve.

Please visit the Keller Williams company site @ http://www.kw.com/kw/aboutus.html to learn more about Keller Williams Realty.

We are also would like to welcome Hollie Whitfield (Buyer's Specialist) and Amy Drummond (Field Service Representative) to The Cope Real Estate Team. Please visit about the team to learn more about them and the great services they bring to the team.

Have a great weekend!

]]>http://www.871cope.com/Blog/Keller-Williams-Real-Estatehttp://www.871cope.com/Blog/Keller-Williams-Real-EstateSat, 23 Aug 2008 16:48:00 GMTJuly Local Market UpdateThe July market numbers are still moving in a positive direction. A few things to keep an eye on are that July is considered the peak of the "buying season" and that the new FHA down payment assistance programs are to be stopped as of 10-1-08 (please see our blog for more details). The Bakersfield market may not be out of trouble just yet. The number of bank owned properties are continuing to increase and dominate the sold and pending categories.

All numbers are as of today 8-23-2008 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

4,204 homes active on the market

1,242 of those are bank owned properties

1,354 are "short sales" or pre-foreclosure sales

1,525 are in escrow or pending sale (that is excluding anything that went pending prior to 5-1-2007)

971 of those are bank owned properties

230 are "short sales"

and there were 628 homes sold or closed escrow in July 2008 with

394 of those being bank owned and

42 being short sales

Please don't hesitate to call or email with any questions and we look forward to your comments!

]]>http://www.871cope.com/Blog/July-Local-Market-Updatehttp://www.871cope.com/Blog/July-Local-Market-UpdateSat, 23 Aug 2008 16:37:00 GMTJune Market UpdateThe June market update is positive with slightly better #'s than last month. The number of available listings is down slightly with sales and pendings on the rise. Bank owned properties are still rising though and they represent 62% of the sales last month.

All numbers are as of today 7-2-2008 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

4,167 homes active on the market

1,120 of those are bank owned properties

1,236 are "short sales" or pre-foreclosure sales

1,435 are in escrow or pending sale (that is excluding anything that went pending prior to 4-1-2007)

894 of those are bank owned properties

184 are "short sales"

and there were 540 homes sold or closed escrow in June 2008 with

334 of those being bank owned and

25 being short sales

Please feel free to call or email with any questions or for more detailed information. Have a great holiday weekend!

Jared

]]>http://www.871cope.com/Blog/June-Market-Updatehttp://www.871cope.com/Blog/June-Market-UpdateWed, 02 Jul 2008 18:16:00 GMTMay Market UpdateHere is the market update for May. Market conditions are continuing to improve over previous months, with the bank owned properties still dominating the market. The aggressively priced properties are getting multiple offers and in some cases selling at or above asking price.

All numbers are as of today 5-27-2008 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

4,249 homes active on the market

1,070 of those are bank owned properties

1,183 are "short sales" or pre-foreclosure sales

1,404 are in escrow or pending sale (that is excluding anything that went pending prior to 3-1-2007)

826 of those are bank owned properties

168 are "short sales"

and there were 476 homes sold or closed escrow in April 2008 with

291 of those being bank owned and

28 being short sales

Please feel free to call or email with any questions or for more detailed information. Have a great day!

Jared

 

]]>http://www.871cope.com/Blog/May-Market-Updatehttp://www.871cope.com/Blog/May-Market-UpdateTue, 27 May 2008 17:41:00 GMTMarch Market UpdateStill some improvements! Pendings and sales are with up with bank owned properties dominating the sales.

All numbers are as of today 4-9-2008 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

4,462 homes active on the market

1,036 of those are bank owned properties

1,021 are "short sales" or pre-foreclosure sales

1,148 are in escrow or pending sale (that is excluding anything that went pending prior to 12-1-2007)

664 of those are bank owned properties

126 are "short sales"

and there were 310 homes sold or closed escrow in February 2008 with

170 of those being bank owned and

17 being short sales

and there were 378 homes sold or closed escrow in March 2008 with

204 of those being bank owned and

23 being short sales

 

Have a great week!

Jared

]]>http://www.871cope.com/Blog/March-Market-Updatehttp://www.871cope.com/Blog/March-Market-UpdateWed, 09 Apr 2008 10:26:00 GMT