Right This Minute...

Right this minute, there are 2,484 homes for sale in Kern County. Right now is a terrific time to buy!

Of these, only 596 are bank owned foreclosures. Right now is a terrific time to sell!

Right now, interest rates are hovering around 5%. Right now is a terrific time to get a loan!

If you are upside down in the value of your home and can't afford your monthly payments, you can short sale your home and be positioned to buy again while prices are still low!

Right now is a terrific time!

New Report For Buyers!

A new report is now available to homebuyers.

"6 Things You Must Know Before You Buy" is a simple, easy to follow tool to help homebuyers, especially in today's market. This short yet valuable report is available, free of charge, to those who are interested. Please call 661-616-3601 and leave your mailing address, so we can mail it out to you today!

Scott Recommends: "Home Prices Edge UP In February"

Scott: "With good interest rates, NOW is the time to buy!"

From cnnmoney.com:

NEW YORK (Reuters) -- Prices of U.S. single-family homes rose by a seasonally adjusted 0.7% in February from January but were down 6.5% from a year earlier, the Federal Housing Finance Agency said on Wednesday.
The regulator's monthly home price index for January was revised down to a 1% increase from a previously reported 1.7% gain.
The index is 9.5% below its April 2007 peak.
For the nine Census Divisions, seasonally-adjusted monthly price changes in February ranged from a 1.2% decline in the East North Central Division to a 3.8% increase in the Pacific Division, FHFA said.
The index is calculated using purchase prices of houses financed with mortgages that have been sold to or guaranteed by mortgage finance sources Fannie Mae or Freddie Mac
FHFA regulates Fannie Mae (FNM, Fortune 500), Freddie Mac (FRE, Fortune 500) and the 12 Federal Home Loan Banks.

Market Review: March, 2009

As of April 19, 2009, there are 2,734 residential properties for sale on the market in Kern County.
In March, 845 homes sold.
That is a 3 month supply of homes if no other homes come on the market.

124 of these homes are priced above $500,000.
During March 8 of these homes sold.
That’s a 15 1/2 month supply in this price range if no others come on the market.
During March 26 additional homes in this price range were listed.

381 of these homes are priced $250,001-$500,000.
During March 50 of these homes sold.
That’s a 7 1/2 month supply in this price range if no others come on the market.
During March 146 additional homes in this price range were listed.

758 of these homes are priced $150,001-$250,000.
During March 211 of these homes sold.
That’s a 3 1/2 month supply in this price range if no others come on the market.
During March 347 additional homes in this price range were listed.

1471 of these homes are priced under $150,000.
During March 576 of these homes sold.
That’s a 2 1/2 month supply in this price range if no others come on the market.During March 818 additional homes in this price range were listed.

Contrary to the doom and gloom reported on the news and in the newspaper, homes are selling in Kern County. March beat February for homes sold (682), as well as January (671). However, in March, listings sold (845) was beaten by new listings (1,337). The buyer’s market is going strong, with many people facing multiple offers on bank owned foreclosures, not to mention long bank responses, and homes that don’t qualify for the increased FHA loan market, with many banks unwilling to do repairs. In addition, there is a moratorium on the amount of foreclosures coming on the market, making this the best time for owners to sell their homes, for the best possible value, for a long time, before the foreclosures once again flood the market. Price, condition and location are the deciding factors in homes being sold, with PRICE being the most critical factor in getting showings and sales. Here’s the good news: 800+ homes sold last month! Yours can be one of them! People have two options in pricing their home:
1.) Pricing too high, helping their neighbor sell their home.
2.) Pricing the home right, selling their home instead of their neighbor!
Are you willing to price your home competitively in order to get it SOLD?

Find Homes With Land For Sale!

Did you know that right now, in Kern County, there are 150 homes for sale with at least an acre of land? Did you know that there are 217 lots and land properties for sale with at least an acre of land as well?

If you are searching for land property, the best tool you have at your disposal is http://www.kerncountyhomesearch.com/ Kern County Home Search gives you access to Real Estate Agents' database of property for sale, the Bakersfield Multiple Listing Service. Search for property based on your desired area, size, amenities, and even amount of land that goes with the property! You can also sign up for e-mail notifications of the newest properties that come on the market that fit what you are looking for, enabling you to know about the property being for sale even before the "for sale" sign is up! Go to http://www.kerncountyhomesearch.com/ today!

Scott Recommends: "Yes, You Can Afford A House"

Scott Farley, loan officer at Riverlakes Mortgage, asked me to pass this information along to you. From Diana Olick at CNBC.com:

Yes, You Can Afford A House

I know we’ve been saying over and over that home affordability is soaring to record levels, but a report today from John Burns Real Estate Consulting really puts it into hard numbers, which I thought I’d share.
Let’s start with the big number: the cost of homeownership has fallen 43 percent from the peak in this cycle, with more than half of that due to the decline in home prices and the rest due to lower mortgage rates and increases in income.
Okay, so what does that mean on a real monthly payment basis, because the base sticker price is often less important than the actual amount of the check we’re going to write at the end of every month. How much of your income are you going to spend each month to pay for the house? (Assume that you put 20 percent down on a conforming loan).

In Oakland, CA you will pay 28 percent of your income. That’s down from 84 percent at the peak of the market. I realize, that’s one of the most drastic change scenarios.
But how about here in Washington DC? You are now going to pay 25 percent of your income on your home. That’s down from 53 percent at the end of 2005.
In Nashville you will now pay 22 percent of your income, down from 31 percent in 2007, and in Philadelphia you will now pay 28 percent of your income, down from 36 percent.
Now for my fave: in Los Angeles you will now pay 45 percent of your income on a home. That’s a lot right. Well at the peak of the market, in August 2007, you were paying 102 percent, yup, more than your income, on your home.
So for those of you sitting out there on the fence, waiting for prices to be ever-so-favorable, open your eyes! Prices may fall more, but you’re already in a pretty good place. Historically, a 31 percent debt-to-income ratio on your mortgage was considered fiscally healthy.

California Will Pay You Up To $18,000 To Buy A House!

No, you did not read that wrong. There are tax incentive plans available to new home buyers that will allow up to $18,000 in tax refunds! These incentives are available for a short time, so don't delay! Call today, you may very well qualify for a tax refund of up to $18,000 if you buy a house! For all the details, call me at 661-616-3601.

Today's Interest Rates

15 year fixed- 4.625%

30 year fixed- 4.875%

FHA- 5.0%

VA- 5.125%

Cal PERS- 5.125%

$417,000 loan or less ($368,750 for FHA), 720 credit score (620 for FHA), 20% down (3.5% for FHA).

Search All The Premium Home Foreclosures In Kern County!

Believe it or not, even million dollar homes get foreclosed on! Luxury home communities, including Seven Oaks, Haggin Oaks, Seven Oaks Grand Island, Blackwood Estates, Brimhall Estates and more all experience foreclosures! Search the Multiple Listing Service for all the homes available.

Go to http://www.kerncountyhomesearch.com/ to find the newest luxury home deals. You can search based on your specific criteria, including number of bedrooms, bathrooms, price range, area and amenities! You can even sign up for daily e-mails of the newest properties coming on the market.

Now Is The BEST Time To Sell Your Home! Here's Why:

Right now, and during the summer of 2009, is the absolute BEST time for a person who owns a home to sell it, AND receive the most money they will possible, for a couple of years. This isn't a sales pitch, this is serious. Here's why:

There is a moratorium on new bank foreclosures being put on the market. The #1 REO listing agent in town was averaging a standing inventory of around 200 listings at any given time in 2008. She now has around 80 listings. This is happening to REO listing agents all over Bakersfield. The 2 REO listing agents in my office have very few remaining REO listings, and are not being assigned any new ones. There is a lot less REO competition right now. This is good for those who own their home and are thinking about selling. The tragedy is, I have spoken to many homeowners who tell me they want to wait a few months and think it over. I strongly recommend AGAINST this idea.

In the fall, all of the REO properties that were NOT listed in the spring and summer, in addition to the properties that will become REOs at that time, will all be put on the market, AT THE SAME TIME. All of the banks have the same agenda- SELL THE HOMES AS QUICKLY AS POSSIBLE. If there are a few homes of the same size and general area, the banks will put low prices to beat the competition. What happens when the competition is significantly larger, and they are also REOs? Prices could PLUMMET. DROP. DIVE. What happens to home values when numerous properties are being sold for LESS? Values also go down.

Many homeowners think they don't have to worry about REOs. They believe that because it is a "Bank Foreclosure" it is automatically worth less. Not true. I have walked through many REOs that are drop dead gorgeous. Many foreclosures have never been LIVED in!

Then, homeowners decide to wait "a year or so" until the REO market ends, then sell their property. Unfortunately, it will take a long time for values to come back up to where we are today. Plus, you need to factor in use and wear for the time you wait, ESPECIALLY if you allow renters to live there for the time being.

If you own a home and are considering selling, you should STRONGLY consider that NOW is the BEST time to do it, in order to get the most value out of the home, before more REOs come back on the market.

If you have any questions, or would like to know what your home would sell for in today's market, please feel free to give me a call today!

661-616-3601 (office line)

Buy A Home For As Little As 3.5% Down!

Conventional loans require 10%, or sometimes 20% down payment in order to purchase a home. Many interested home buyers do not have that amount of money on hand to use as a down payment and decide they need to still rent for several years. NOT SO! You may qualify to purchase a home for as little as 3.5% down! For a $150,000 home purchase, instead of $15,000 down, that would only be a down payment of $5,250!

IN ADDITION, YOU MAY QUALIFY FOR UP TO $8,000 IN A TAX REFUND IF YOU BUY A HOME ON OR BEFORE DECEMBER 1, 2009!

With great interest rates and amazing deals, this is definitely the time to buy!

Call for more information!

661-616-3601 (office line)

Sell Your Home For FREE

Your house may qualify to sell for FREE. That's right, no real estate fees paid by you.

No listing agent fees!

No buyer's agent fees!

To see if you qualify, please call me for more information.

661-616-3601 (office line)