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Old 08-27-2007, 12:57 AM
 
3 posts, read 5,457 times
Reputation: 13
Question Moving to Bakersfield

Me and my husband are going to move to Bakersfield because he is relocating there for only 2 years (Thank God). We currently rent an apt in San Jose.

We went this weekend to check things out to decide if we should rent or buy? The houses are so cheap but the area is really in the middle of nowhere
(looking into South West Bakersfield)

Me and my husband are trying to see if its a good deal or not to buy. Because we would need to move in 2 yrs anyway, and would it sell with all these homes popping up everywhere.

Is there a short resale market in Bakersfield?

And are Lennar homes worth it?
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Old 08-27-2007, 01:03 AM
 
11,728 posts, read 22,905,946 times
Reputation: 7058
I wouldn't buy for only two years. Even in a stable market, it'll cost you money to sell that house so you'll lose money. If the market sinks (which it looks like it is), you'll lose even more.
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Old 08-27-2007, 09:24 AM
 
152 posts, read 600,926 times
Reputation: 99
Definitely DO NOT buy for the short term in Bakersfield. They are facing drastic price corrections due to the "artificial" demand created by speculators from Los Angeles a few years ago.

The area still claims to be having a population boom, but the majority of these new transplants are not bringing any brains or skills with them. Not a very desirable demographic, but thats just a personal preference.
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Old 08-27-2007, 01:58 PM
 
Location: California
9,612 posts, read 10,168,304 times
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Although I don't agree about the people in bakersfield from the above poster i will agree that it would be better to rent than buy if your only going to be here 2 years, the market is falling and will continue to do so.
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Old 08-27-2007, 02:42 PM
 
152 posts, read 600,926 times
Reputation: 99
I'm not saying everyone in Bakersfield is that way, that isn't true at all. I'm just saying that Bakersfield has always had and still has difficulty attracting and retaining educated professionals.
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Old 08-28-2007, 11:45 AM
 
573 posts, read 1,103,941 times
Reputation: 302
I'm with everyone else.

Even if we weren't in the midst of a swirl of speculation about further declining prices... a 2 year turn around would give me pause.
Market conditions being what they are, it would be a HUGE gamble, especially if you're thinking about buying new construction. Yikes!

Find a nice, reasonably priced rental and stash the extra cash to use for a down payment when you're ready to buy a home someplace where you really want to live and plan on staying for awhile.

Good Luck
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