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Thursday, Jan 16 2014 12:13 PM

'First Look': Clinic to help first-time home buyers

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    Diana Crockett of Stockdale Federal Mortgage Inc. and Realtor William Chicas discuss the housing market and mortgages on "First Look with Scott Cox."

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The housing market is steady and improving. That's the analysis of Diana Crockett of Stockdale Federal Mortgage Inc., who appeared Thursday on "First Look with Scott Cox."

Right now is the perfect time to purchase a home, while prices are low, Crockett suggested.

If you're a first-time home buyer or if you haven't owned a home in the past three years, there are many programs that can help you.

Many of the short-sale homes that are vacant around town are being purchased by investors from out of town, local Realtor William Chicas said.

"Houses are cheap so investors are coming in, buying them, renting them, and then they will sell them when the market gets even better," Chicas said.

The current median price of a single-family home in Bakersfield is about $230,000, Chicas said.

Simulcast host Scott Cox said he had seen a lot of new construction near the Taft area and there's a good reason for that.

"There is a lot of relocation happening with people in the oil industry and that is driving the construction up," Chicas said.

If you are unsure of your credit and qualifying for a home or have any questions, Stockdale Federal Mortgage Inc. will host a First Time Home Buyer Clinic.

From 10 a.m. to 1 p.m. Saturday at 201 New Stine Road, Suite 300, experts are slated to answer questions and explain a new 3 percent grant money program.

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