Realtors are licensed professionals who have training and knowledge on all facets of a real estate transaction. Many people looking to buy or sell a home often think that agents are expendable commodities, opting to do it themselves rather than pay someone thousands of dollars to do so. A real estate transaction in the Bakersfield area contains legally-binding documents that dictate how the exchange of hundreds of thousands of dollars is finished. Such transactions are very important to all parties and the slightest mistake can cause huge problems. It is best for the average home buyer/seller not to try and handle such an important transaction themselves. It could end up being more costly for the individual than a realty agent would have cost.
Almost half of the buyers out there are doing so for the first time in Del Kern. Oftentimes, realtors are seen as a formality, only ushering them into a home. This is only the case because they make it look so easy. Among all the knowledge of realty law, ordinances, rules and regulations, a realtor is also well versed in the subtle nuances of a transaction. They will know when a home is being offered at a reasonable price or not. They will understand what you are looking for and your budget and help you work within those parameters to find you exactly what you need. It seems like a costly, unneeded, expense but in the end it is money well spent. Make a mistake trying to do it yourself and you might end up paying more than an agent would have cost.
Home sales in July dropped more than anticipated and is the slowest it has been in a couple years. There is also the largest supply of homes for sale on the market in more than a decade. This large amount of homes has iced the ridiculous home price gains that buyers and investors were seeing their properties worth only a year ago. Weak home value gains are not likely to pick up anytime soon in Del Kern and Shafter, which is great for home buyers in the Bakersfield area. In all likelihood, this will lead to an increase of buyers in the marketplace and eventually level out.
New housing starts and building permits have also slowed dramatically in the Bakersfield area. Many builders are putting new projects oh hold for the time being until things get more stabilized and they can figure if the projects are sustainable. I know I have seen some large projects near my home in Phoenix stalled for this very reason.
This slowdown in Bakersfield Real Estate, and beyond, is alarming because new home building has become a significant part of our economy. Even the hot markets of the west have slowed down rapidly lately making it the perfect time to buy real estate. The reason for such a glut of homes on the market is because during the frenzy of 2005 builders overproduced. Now those same builders are feeling the effects.