Market Cools Off Just Before Spring Thaw
By Clint Freeman, Realtor, Consultant
(Coldwell Banker Best Realty)
After a robust spring and a cool fall market in 2010, buyers continue to have the ability to strongly negotiate when offers are being placed with homes for sale in Ridgecrest, California. A window of opportunity remains when interest rates hover just below 5.0%, and there is a wide variety of homes to select from. The local market has experienced a softening in demand as only 17 homes were sold in month of February. This appears to be due to the lack of new hires coming into NAWCS at China Lake, and the reduced presence speculators who previously viewed Ridgecrest as a quickly rising market. Vacant rental inventory is up as well. Buyers now contemplating a local home purchase are those who have been renting and now want to own their own home, or those who have retired and desire t...