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    Home prices climb 10 percent in February as local market gains steam

    BY JOHN COX The Bakersfield Californian
    Friday, Mar 06 2015 05:30 PM

    Bakersfield's median home sale prices jumped 10 percent in February as the local housing market sprang to life "like a bear coming out of hibernation," according to a new report by appraiser Gary Crabtree.

    Ironically, the $20,000, month-over-month increase came amid a nearly 7 percent decline in demand and virtually unchanged supply, possibly signaling a shift from greater purchases of lower-end properties to more higher-end homes. Prices per square foot remained almost unchanged from January but were up 3 percent from a year before.

    Crabtree's upbeat report may serve to relieve worries that a wave of recent oil field layoffs would punish the local home market. Or, it could simply suggest their impact has not yet been felt.

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    JOHN COX: What's next with Bakersfield Commons? Have a seat

    Bakersfield had cause for celebration last month when the state's high-speed rail agency announced it had settled a lawsuit filed by a developer proposing a very big, mixed-use real estate center northwest of Coffee and Brimhall roads. No...

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    Restaurants, retailers sign up to occupy former Three-Way site

    Coffee fiends, pizza lovers and frozen yogurt fans all have something to look forward to at the retail center being built along California Avenue west of Highway 99. Blaze Pizza will be joined by Starbucks and a national yogurt franchise...

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    Housing forecasts: Price increases will slow

    Bakersfield single- and multifamily housing prices will continue to rise in 2015, albeit at a slower pace than in each of the last two years, according to a pair of market forecasts released Thursday. A report by local appraiser Gary...

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    Small price decline sparks theories about local home market

    Every month, the dean of Bakersfield's home market issues a sheet with 50 numbers on it summarizing how things went the month before, the implication being that to focus on just one of them it would be folly. Still, for people who know...

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    Home market steady in October with supply down, demand up

    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...

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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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