Real estate, in itself, has never been a simple matter. Between contracts, selling and buying tactics, and the competitive nature of it all, things can get quite tricky either if you’re trying to sell property or if you’re trying to buy it. Something that prevents any real estate process from becoming easy and predictable is the ever changing market surrounding it. California is certainly a great example of a competitive market, and we can all guess why. Between there being plenty of jobs, comfortable weather year round, and gorgeous landscapes just about everywhere, it’s no wonder people want to live here. This is especially important to those who are looking for a home or trying to sell their home. Here’s why homes are selling so fast right now.
Housing prices are on the rise
It’s no lie that houses in the United States are getting pricey. In 2018, the median cost of a home in this country is over $300,000, which is almost $100,000 more than it was just six years ago. However, homes in Bakersfield are of the most affordable of larger cities, with the median price of homes being around $235,000. For those who want to live in California but can’t afford an extremely expensive home, Bakersfield is the place to go.
If you plan on selling your home, and you know how to price a home right, you can really speed up the process and sell your home in no time.
People are moving
Houses aren’t selling noticeably fast in every region in the United States, but many booming cities and areas like San Francisco, Austin, Denver, and New York are attracting people by the thousands. Bakersfield, for example, had an annual growth rate of about 1.04% in 2017. One of the main reasons why homes are selling so fast is because people are simply moving here and need a home! And, can we blame them?
Real estate is valuable
When you’re renting a home or apartment, the money that you spend every month isn’t going towards ownership. Owning property is, by nature, owning value because, after you pay off the balance due on the mortgage, you begin to earn equity on the home. With that in mind, if you take care of the house and take measures to invest in its value, when it comes time to sell it—depending on the market, of course—it may be worth much more than it was when you originally purchased it.
Houses are valuable assets, and people across the country are taking advantage of how valuable they can really be. If you’re trying to sell your house, research the housing market in your area and hire a real estate agent who can provide special advice on how to sell a house. If you’re buying a house, start the process as soon as possible since homes aren’t on the market very long in many areas.
If you’re in Bakersfield, California and you want to either sell your existing home or you want to buy a new one, we can help! Tholco Real Estate Group has the tools at the ready to help you with this process. Contact us today!