Prices get influenced by supply and demand. Over all we have a large supply of homes(high inventory) and not enough demand(for many reasons). If in that area you are looking to buy the inventory is short than the prices stay flat and the sellers donot drop their price. I suggest work with an agent and request to receive the list of shortsale and bankown homes. Also ask for the most recent comparative market analysis. Place an offer at the price based on these information and what you think the home is worth to you.
Happy house hunting!
There has been a significant change in prices in Bakersfield, Ca. In the 93312 and 93314 zip code there are about 92 Bank Owned Properties available. Majority of these Bank Owned homes range between a 30% to 50% discount from the last time they were sold. I am not sure what you are using to gauge the change in prices in the Bakersfield market. I can ensure you that there are some great opportunities in the foreclosure market if you are not afraid of a little work. If you have an email or would like to converse with me about this please feel free to contact me. Thank you for your time.