Recently, it seems like every property that I write up has at least two other offers that I have to compete with. While the market is still not where it was, there seem to be plenty of buyers going after the best deals. If you are a buyer who is planning on getting a " deal ", you need to write your offer as clean as possible if you are to have any chance at success. By " clean ", I mean nothing extraneous. If something doesn't have to be there, cut it out. When you are in direct competition with other buyers, the … [Read more...]
Big Bear Home Sales – May 2009
June 6, 2009 by Leave a Comment
Big Bear Home Sales Home sales in Big Bear took a hit in May 2009, falling nearly 14% from May 2008 numbers - 65 in May 2008 vs. 56 in May 2009. This is the first month in 2009 where the monthly home sales were less than the same month last year. A sign of things to come? Compared to the April 2009 home sales, they were down just about 8% (61 vs. 56). Year to date, sales are are still up about 23% from 2008, but that number is rapidly decreasing (231 vs. 285). Keep in mind, sales in 2009 were close to 50% … [Read more...]
Big Bear Real Estate Monday Market Update For 6/1/2009
June 1, 2009 by Leave a Comment
Below is your weekly update for the Big Bear real estate market as of 6/1/2009. Property Type Listings for Sale Change from Last Week Pending Sales Change from Last Week Sales Year to Date Change from Last Week RESIDENTIAL 910 +1 164 +4 276 +16 VACANT LAND 376 +4 13 +1 12 0 CONDOS 61 +4 3 -3 10 +2 GOVERNMENT LEASE 15 +1 1 0 0 0 COMMERCIAL & RES INVESTMENT 61 0 3 0 8 0 BUSINESS OPPORTUNITY 13 -1 0 0 1 0 TOTAL 1436 +9 184 +2 307 +18 These are the quick stats for the week - 30 new residential … [Read more...]
What Do You Mean We Already Have An Offer?
May 27, 2009 by Leave a Comment
Yeap, that's exactly what some of our sellers are asking us after their property has only been on the market a few days or weeks. It is a fallacy that there are very few buyers looking to buy in Big Bear. The truth is there are very few buyers in Big Bear who want to overpay. Conversely, most of the homes listed for sale today are overpriced. So buyers will just sit and wait until the properly priced properties come up. The fact of the matter is that there are plenty of buyers looking to buy these days. But, … [Read more...]
The Termite Inspection Report – More Than Just A Negotiable Item
May 26, 2009 by 2 Comments
Would you agree to do repairs on a property without actually knowing how much they are going to cost? I think "no" would be the most popular answer. Yet, many sellers in Big Bear agree to pay for a termite report & clear section 1 without knowing how much it is going to cost them. What is a termite report & clear section 1? Termite reports are performed on nearly every home sale in Big Bear. In this inspection, licensed inspectors will look for any active infestation of termites, dry rot, or fungus … [Read more...]
Big Bear Real Estate Monday Market Update For 5/25/2009
May 25, 2009 by Leave a Comment
Below is your weekly update for the Big Bear real estate market as of 5/25/2009. Happy Memorial Day to All! Property Type Listings for Sale Change from Last Week Pending Sales Change from Last Week Sales Year to Date Change from Last Week RESIDENTIAL 909 +5 160 +4 260 +8 VACANT LAND 372 -3 12 0 12 0 CONDOS 57 0 6 0 8 +1 GOVERNMENT LEASE 14 0 1 0 0 0 COMMERCIAL & RES INVESTMENT 61 -1 3 +1 8 0 BUSINESS OPPORTUNITY 14 0 0 -1 1 +1 TOTAL 1427 +1 182 +4 289 +10 These are the quick stats for the … [Read more...]
Big Bear Real Estate Monday Market Update For 5/18/2009
May 18, 2009 by Leave a Comment
Below is your weekly update for the Big Bear real estate market as of 5/18/2009. Property Type Listings for Sale Change from Last Week Pending Sales Change from Last Week Sales Year to Date Change from Last Week RESIDENTIAL 904 +6 156 +11 252 +11 VACANT LAND 375 +1 12 +2 12 +1 CONDOS 57 0 6 0 7 0 GOVERNMENT LEASE 14 +1 1 0 0 0 COMMERCIAL & RES INVESTMENT 62 -3 2 -1 8 +1 BUSINESS OPPORTUNITY 14 0 1 0 0 0 TOTAL 1426 +5 178 +12 279 +13 These are the quick stats for the week - 36 new residential … [Read more...]
Big Bear Lake First-Time Home Buyer Down Payment Assistance Program
May 17, 2009 by 4 Comments
First-time home buyers are getting a lot of help these days. We already have the $8,000 home buyer tax credit. Then, the California Association of Realtors launched the C.A.R. Mortgage Protection Plan last month. The City of Big Bear Lake is getting into the mix as well. As proposed by the Big Bear Lake City Council Improvement Agency, the first-time home buyer down payment assistance program will provide for an advance of up to 5% or $19,000 (whichever is less) towards the buyer's down-payment on a primary … [Read more...]
Why I Love Sugarloaf
May 16, 2009 by 2 Comments
Since Big Bear is primarily a second home market, most buyers are not completely familiar with all of the different neighborhoods and their characteristics. Like any town, Big Bear's property values can vary widely from area to area. In Big Bear, as a general rule, prices become less the farther East you go away from the lake. For folks in the 300k and under range, this makes the neighborhoods of Big Bear City, Sugarloaf, and Erwin Lake areas where they can definitely get quite a bit more for their money. Because … [Read more...]
Big Bear Foreclosure Numbers – April 2009
May 14, 2009 by Leave a Comment
The foreclosure filings for Big Bear (notices of default, notices of trustee sale, and properties that went back to the bank) in April 2009 were down 5% as compared to March 2009. But, they were up 20% when compared to April 2008, or year over year. There were a total of 92 properties in the Big Bear area that received a notice of default in April, which is down 14% from the all-time high we saw in March 2009. Even though there was a decline, 92 is still on the very high end of the range (see the chart below) … [Read more...]
