Foreclosure filings in Big Bear were down 28% in November 2009 when compared to the previous month. Year over year, foreclosure filings were up 23% from the November 2008 numbers. Notices of default dropped to the lowest number we've seen in a year, while notices of sales and trustee sales back to the bank remained near their monthly average. There are several potential reasons for the drop in defaults - the lull of the holiday season, banks giving borrowers more time and options to resolve the delinquent … [Read more...]
Big Bear Home Sales – November 2009
December 6, 2009 by Leave a Comment
Big Bear Home Sales Big Bear home sales remained strong in November as the real estate market appears to be hitting its stride. Home sales in November were down 6% when compared to the October sales (88 v. 94), but were up a whopping 76% when compared to the same month last year (88 v. 50). Historically, these numbers are on the low end. But, comparing them to the number of monthly sales over the past couple years, they are stronger and a welcome sign. 27, or 31%, of the 88 home sales in Big Bear were bank … [Read more...]
Buying Properties At An Auction – Waste Of Time or Hidden Gems?
December 5, 2009 by 1 Comment
On the whole, I say a big old waste of time. But let's be clear on what kind of auctions we are talking about. 1. Trustee Sale Auctions (Foreclosure Auctions) These are the auctions sold at the court house steps. This is the third step (behind notice of default and notice of sale) of the foreclosure process in CA, where bidders can show up and purchase the lien position (specific rights) to the property. From my experience, there is a lot of opportunity at these type of auctions. But, with opportunity comes … [Read more...]
Winter has hit Big Bear
November 28, 2009 by Leave a Comment
Big Bear Snow.mov Watch on Posterous Drive careful, especially when listening to Bon Jovi … [Read more...]
Dallas Cowboys = scrubs
November 22, 2009 by Leave a Comment
Redskins = 1 point less than scrubs … [Read more...]
A Buyer’s Dilemma – Waiting For Prices To Drop vs. Interest Rate Hikes
November 22, 2009 by 4 Comments
I saw this graph recently and thought I would share it. Nothing new here, people have been talking about this concept for years - waiting for prices to drop more vs. the risk of higher interest rates. Well, here it is again, based on a $100,000 loan. There are two keys questions buyers need to consider right now - 1. How much more are prices going to drop in the market they are looking to buy in? Few experts believe that prices are going to go down another 20%. It could happen, especially in the upper end … [Read more...]
Big Bear Foreclosure Numbers – October 2009
November 16, 2009 by Leave a Comment
Foreclosure filings in Big Bear were up 10% in October 2009 when compared to the previous month. Year over year, foreclosure filings were up 70% from the October 2008 numbers. New notices of sale shot up in October, showing that banks are still moving forward on foreclosures, while new notices of default and Trustee sales remained relatively the same. Keep in mind, foreclosure filings are made up of three parts - Notices of Default (NOD), a recorded document that starts the foreclosure process, which is filed … [Read more...]
