BB2: Ouch.
From bakersfield.com:
Bakersfield’s falling home values again ranked among the worst 10 markets nationwide, a report released Monday said.
The local market, which includes all of Kern County, saw price declines of nearly 29 percent in November compared to a year earlier, according to First American CoreLogic, a Santa Ana company that tracks the real estate industry.
Bakersfield took the No. 7 spot for worst-performing market behind a string of familiar California names. Salinas, with a 30 percent drop, took the No. 1 spot, followed by Vallejo-Fairfield, Merced, Modesto, Stockton and Riverside-San Bernardino-Ontario. El Centro, Napa and Miami finished out the Top 10.
Nationally, home prices dropped the most in more than 30 years during 2008, First American’s preliminary estimates show, with a 10.6 percent decline.
Since peaking in summer 2006, U.S. home prices have fallen 18.5 percent, with California values dropping 42 percent.
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1 comment:
Like my DAD allways said just bring on the foreclosures with that 15,000$ free money 4 1/2 int fixed 30 year low low prices great time to buy first time buyer
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