Friday, August 3, 2007
What does that mean?
It sounds like the worst is over in the declining housing market, but in one of the fastest growing cities during the boom, Bakersfield may not be out of the woods just yet. On the flip side we are still priced well below most surrounding area's and are still seeing a large influx of people coming in from out of town.
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I too feel that the worst is over. It is difficult to determine whether the prices are dropping or the realization of the "actual" prices are becoming more obvious. The consumers have observed the hyped prices for so long that there was a misconception that those were the actual prices. Now that the reality of our situation is sinking in, I feel we can move forward and buyers can purchase homes at the appropriate prices and sellers can sell homes for what they are actually worth. What a concept.
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