In looking ahead at what is predicted for the Bakersfield real estate market, it is anticipated that in the new year of 2017, there may be a downward trend in housing prices. While this may not be ideal for sellers in the near future, for those who are considering making a home purchase – including Millennials, who have traditionally put off the buying of a home for later – it could spell a nice opportunity.
Even though most of the voters in California voted against Donald Trump in the November 8th election, one of the President-elect’s campaign promises was lowering taxes, essentially helping those who are first-time home buyers get into their very own “American Dream.” But, if this move actually comes to pass, it can also be beneficial for those who are considering the purchase of – or the purchase of more – investment properties.
There are also some additional signs that may lean towards buyers being in the driver’s seat when it comes to the Bakersfield real estate market in the coming year. For instance, employment in this area is currently in a positive – and rising – shift. Likewise, the possible end of the cumbersome Dodd-Frank restrictions on lending could open up more buying opportunities for property investors.
While predictions are really only just that – predictions – as we enter into 2017, it may be beneficial to keep an ear to the ground if you’re even remotely considering the purchase of a home or investment property, as you may find what you’re looking for, at a price that is too good to pass up. Contact us, we can help.