The housing market is ever-changing. It's important for prospective buyers and homeowners pondering the idea of selling to keep apprised of local real estate trends to know how to meet the market best. For instance, the median sale price for homes in Bakersfield, CA over the last 12 months is $155,000 while the median mortgage debt is $83,564. Tim McCrary of Alliance Realty & Development (www.AllianceRDI.com) says this shows that it's a great time for folks considering the purchase of an investment property to jump in the game. "With home prices still relatively low, it's an opportune time for folks to purchase a second home as a rental property," says McCrary. "Not only are home prices still very attractive to hopeful buyers, but interest rates still make the purchase affordable for qualified buyers."

The market, however, is quickly changing as shown by increasing listing prices. By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.

Continue Reading at YourHomeBoy.com: http://yourhomeboy.com/bakersfield-real-estate-stats-urge-investments

If you should have any questions about the Bakersfield real estate market or investment opportunities, Tim McCrary can be contacted at http://alliancerdi.com/agents today.