Business

Monday, Jul 07 2014 03:00 PM

Worth noting in business: Crabtree says Bakersfield slowly becoming homebuyer's market

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    Appraiser Gary Crabtree

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By THE BAKERSFIELD CALIFORNIAN

Bakersfield home prices edged upward in June as listings climbed and total sales slipped from the month before, local appraiser Gary Crabtree reported.

The median closing price for a single family home in the city, defined as the point at which half the homes sold for more and half went for less, reached $215,000, a 2.4 percent increase from May, or 10.3 percent greater than a year before. The average price per square foot in June rose 1.8 percent to reach $129.63.

The number of homes listed for sale jumped 14.6 percent to 1,163, while total sales closed in June declined 2.2 percent to 539, Crabtree reported.

"No big surprises as supply increases and demand remains stable," he wrote in a note accompanying the report. "The market is slowly turning from a seller's to a buyer's market."

 

American Tire Distributors Inc. is increasing its footprint at the Paramount Logistics Park by nearly a quarter with Monday's announcement that it has signed a lease for an additional 300,000 square feet at the Shafter distribution complex.

American Tire currently occupies 295,000 square feet at the 1,625-acre complex at 5000 Capital Road. The company said in April it had leased another 1 million square feet at the park owned by Roll Real Estate Development LLC, the Los Angeles-based owner of Paramount Farming.

Construction of the company's site is expected to be finished by the end of this year.

 

State oil regulators are accepting "relevant, scientific literature" for a report assessing fracking, acid fracturing and other well stimulation techniques.

The state Department of Conservation has set a July 15 deadline for submissions to a review of existing scientific information. Required by Senate Bill 4, the report is being put together by the California Council on Science and Technology.

Submissions can be emailed to CAFRAC@ccst.us.

 

Organizers of the annual Oil & Gas Awards program are accepting nominations for the 2014 West Coast Industry Leader Award.

To qualify, the nominee should have made a positive difference in the industry, shown a long-term commitment to the field of oil and gas, and demonstrated "phenomenal leadership skills" within his or her organization, according to a news release from the awards program.

Additionally, nominees must have worked in the industry for more than a decade and have a board-level position at organizations in the region. Nominations should be emailed to enter@oilandgasawards.com by July 17.

The winner is to be announced at a gala dinner Oct. 21 in Bakersfield.

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