Agents: Sellers getting spoils of booming housing market

Agents: Sellers getting spoils of booming housing market

BAKERSFIELD, Calif. (KBAK/KBFX) — The California housing market is on the rise, and real estate agents say the home value growth in Kern County is booming.

Kern County is registering big gains. Some market experts say the state is sweeping the top cities where home list prices are rising the fastest.

Agent Kevin Palla said the housing market in Kern County is at a record high.

“The activity for listings is definitely picking up," Palla said. "Median prices have gone up approximately 35 percent in the last year."

Palla said the market conditions benefit the seller.

"For people who have been thinking about selling, but they're not sure if they have equity in their home, they can rest assured that their values have gone up almost one-third in the last 12 to 15 months," said Palla.

Judy Miller is also a local agent. She said people looking to sell should jump into the market.

"So, some of those sellers that might have been in a short-sell position, just recently, in the last few months, might be in a position now where they can actually sell and make some money,” Miller said.

Shawn Woltmann is a Bakersfield homeowner currently looking to sell to make a profit.

"I’m hearing it's a seller's market, that it's a great time to sell. I’ve only listed a week ago, and I haven't seen the fruits of that seller's market, yet. But, hopefully it'll happen soon,” the homeowner said.

Buyers, meanwhile, must deal with the dynamics of a seller's market. Aside from inventory being low in Kern County, interest rates are on the rise, which creates multiple headaches for those looking to purchase a home.