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Bank Foreclosures in Bakersfield

For those looking to make an investment in foreclosure properties, Bakersfield is an excellent choice. With a population of over 300,000, Bakersfield is the ninth largest city in California, situated about one hundred miles north of Los Angeles, far enough from the hectic lifestyle of the basin, but near enough to allow residents to participate in all of the attractions of the Los Angeles area.

Bakersfield is like most American cities in the fact that it has had a dramatic increase of bank foreclosures in recent years. This rapidly growing area has fallen victim to the same circumstances that have affected cities across the nation, resulting in a lot of vacant houses, foreclosures, and auctions. Although the economy is trying to rebound, evidence of the difficulties still abounds, with several homes listed for sale due to foreclosure.

Wise business investors will see this pattern and would want to take advantage of the situation. A short browse in the foreclosure listings would lead to the discovery of several homes available for sale at incredibly low prices. A single family home with three bedrooms and two bathrooms is listed for less than $3,000. Homes are available at a wide range of prices, with even the most expensive of listings including farms for less than $5 million dollars.

Bakersfield is often an overlooked city, despite the fact that it contains all of the amenities of a larger, more popular locale. There are several universities, art centers, music venues, and shopping centers. The climate of Bakersfield is defined as Mediterranean, with very hot summers and short winters. Due to the population tripling in size over the last thirty years, it is considered as one of the fastest growing cities in California. It is a thriving community and there are plenty of opportunities for advancement and employment.

However, the economic situation over the last few years has been devastating. Investment in real estate is one way to help turn the tide and begin the long process of recovery. Bakersfield is an area in which the abundance of foreclosures can be capitalized on and in turn help not only the area’s economy, but that of the nation as a whole.