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    Home market steady in October with supply down, demand up

    By THE BAKERSFIELD CALIFORNIAN
    Thursday, Nov 06 2014 03:02 PM

    Bakersfield home prices held steady in October as supply dipped and demand ticked higher during what is normally a slow time of year for sales, according to a preliminary report by local appraiser Gary Crabtree.

    The city's median closing price for existing homes -- the point at which half sold for more and half went for less -- was unchanged from September at $215,000. That represented a 16.2 percent jump from a year before.

    On a per-square-foot basis, however, October's single-family home sales were off by 2.9 percent month over month at $128.97. That was 6.9 percent greater than October 2013's level.

    Crabtree, pointing to a 1.8 percent decline since September in homes listed for sale and a 3 percent increase in closed sales, saw "a...

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    Retailers show interest in former car lot on California Avenue

    Half a dozen retailers and restaurants are finalizing plans to occupy the former Three-Way Chevrolet Co. property on California Avenue, a local commercial real estate broker said Wednesday in a wide-ranging update on local shopping center...

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    Local rental market remains tight

    The upshot of Bakersfield's rental market these days is "slow and steady," which is good for both investors and renters. Compared with neighboring communities, Bakersfield rental properties are affordable to buy into, there's high demand...

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    Farmer rules out appeal of Crisp & Cole sentence

    Julie Dianne Farmer has decided not to appeal her conviction and sentence in the Crisp & Cole mortgage fraud scheme, one of her attorneys announced Monday. Farmer had until Monday to file an appeal after being sentenced Sept. 29 to three...

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    Builder enters local market with plans for 400 new houses

    A large homebuilder active north and south of Kern County has moved into the Bakersfield market with its purchase of nearly 400 unfinished lots it plans to turn into homes for first-time and "move-up" buyers starting next year. Salt Lake...

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    Local home market strengthens slightly

    Bakersfield's single-family home market managed a modest price gain last month despite a seasonal slowdown in sales activity, according to a preliminary update by local appraiser Gary Crabtree. Although the number of homes sold in...

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    Walmart invests in Oildale

    An often-overlooked stretch of North Chester Avenue stole the spotlight Wednesday as Oildale celebrated the opening of a neighborhood grocery store some hope will spark additional investment nearby. Hundreds of area residents and other...

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    Real estate professionals establish fund to help their own

    Kern County real estate professionals have set up a fund to help colleagues who have fallen on hard economic times because of a medical crisis or death in their immediate family. Organizers say the new Real Estate Professionals Family...

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    Next phase of Seven Oaks breaks ground

    For 12 years, Seven Oaks has remained mostly as it was: a grand but incomplete master-planned community in southwest Bakersfield. That period of relative quiet ended Wednesday, albeit symbolically, as developers broke ground on a 175-acre...

  10. Bakersfield man sentenced in mortgage fraud scheme

    In a mortgage fraud scheme with echoes of Bakersfield's infamous Crisp & Cole Real Estate case, federal defendant Antonio Perez-Marcial was sentenced Monday to three years and 10 months in prison. The 41-year-old Bakersfield resident was...

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    Crisp & Cole agent gets 19 months behind bars

    Jeriel Salinas, a former sales agent at Crisp & Cole Real Estate, was sentenced to 19 months in prison Monday. Salinas had faced up to 30 years in prison and a $1 million fine after agreeing to plead guilty to one count of conspiracy to...

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    Homeowner hopes drone videotaping flies 'under the radar'

    Linda Elias could always say, if the feds ever ask, that she simply wanted to share the magnificence of her 6,000-square-foot, Frank Lloyd Wright-esque home along the Kern River near Hart Park. Or, she could just blame her brother, who...

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    Media line up to oppose drone ban

    You may have heard about real estate agents calling on the Federal Aviation Administration to allow the use of commercial drones in U.S. airspace. But now some of the nation's largest newspaper companies -- The Washington Post, the New...

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