Below is your weekly update for the Big Bear real estate market as of 6/8/2009.
| Property Type | Listings for Sale | Change from Last Week | Pending Sales | Change from Last Week | Sales Year to Date | Change from Last Week |
|---|---|---|---|---|---|---|
| RESIDENTIAL | 898 | -12 | 167 | +3 | 300 | +24 |
| VACANT LAND | 375 | -1 | 15 | +2 | 12 | 0 |
| CONDOS | 61 | 0 | 4 | +1 | 10 | 0 |
| GOVERNMENT LEASE | 15 | 0 | 1 | 0 | 0 | 0 |
| COMMERCIAL & RES INVESTMENT | 61 | 0 | 3 | 0 | 8 | 0 |
| BUSINESS OPPORTUNITY | 13 | 0 | 0 | 0 | 1 | 0 |
| TOTAL | 1423 | -13 | 190 | +6 | 331 | +24 |
These are the quick stats for the week –
36 new residential listings for the week – 7 bank owned (19%), 5 short sales (14%), and 24 organic (67%).
33 new residential pending sales for the week – 6 bank owned (18%), 6 short sales (18%), and 21 organic (64%).
22 new residential closed sales for the week – 6 bank owned (27%), 1 short sales (5%), and 15 organic (68%).
Another strong week for organic sales, the third in a row. For several months, bank owned properties were dominating what was selling. I think two things happened to change that – 1. the banks started holding off on foreclosures and putting their properties on the market, and 2. organic sellers started getting the point that if they want to sell, they had better price it right.
Sure, they are some random organic sellers who are getting lucky (read:overvalue) in this market, but the odds are stacked heavily against the traditional, organic seller.
See last week’s Big Bear real estate market numbers.
Big Bear Foreclosure Update For The Week
There were 9 properties that went back to the bank last week, 6 less that the week previous.
The median price that each property went back to the bank was a whopping 48%! Big discounts at these Trustee sales.
Below are the Big Bear properties that are set up to be sold by trustee’s sale in the next week. There are 51 total, 23 more than last week. This is one of the biggest weeks we have seen for Trustee sales. If just half of them go to sale, that is potentially 25 new bank owned properties in Big Bear in one week!
A few of my best picks below – 440 Windsong in Castle Glen and 169 Stony Creek in Eagle Mountain. Both of these are prestigious Fox Farm locations.
The properties above represent a good sampling of Big Bear, with nearly every area in Big Bear represented, including Erwin Lake, Baldwin Lake, Sugarloaf, Moonridge, Fox Farm, Big Bear City, and Big Bear Lake.
The best way to buy one of these properties at a Trustee’s sale is to know about it months in advance. We can help with that if you are interested.
Be sure to check back here every Monday for your Big Bear Market Update or sign up to get this emailed to you every week.
* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area or data on properties in Big Bear that are listed in other MLS systems.
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