Selling Real Estate is not what I do. What I do is study inventory and market conditions. I then provide this information to buyers and sellers so that they can make sound financial decisions. It's that simple. The single most important quality of a Real Estate agent is their ability to study and retain information regarding the inventory of homes in the market they work in. Period. An agent that doesn't know the inventory will soon fail. It amazes me that agents try to learn the inventory after they get a … [Read more...]
Big Bear Market Absorption Rate – 7.7 Months
December 13, 2010 by Leave a Comment
The absorption rate for the Big Bear real estate market now stands at 7.7 months. With 93 homes sales in November, and approximately 715 homes for sale in the area, the market is starting to come in line with a "normal" market, though it is still leaning in favor of buyers. Why is this important? Knowing the absorption rate will tell you what the real estate conditions are like in a particular price range and area. If you are selling your property, this can help when determining the demand in your area or price … [Read more...]
Big Bear Home Sales – November 2010
December 11, 2010 by Leave a Comment
Big Bear home sales hit their highest mark this year with a total of 93 sales in November. The median sales price rose considerably, up 32% from October, while average sales price remained stable. Big Bear Home Sales Home sales in November (93) were up 18% when compared to the October sales (79). Year over year, sales were up just 2% from November 2009 (91). 26, or 28%, of the 93 sales were bank owned, down 12% from last month. 16 of the sales, or 17%, were short sales, which is 8% more than last month and the … [Read more...]
Big Bear Foreclosure Numbers – October 2010
November 22, 2010 by Leave a Comment
Foreclosure filings for Big Bear dropped in October 2010, down 17% when compared to September, a sizable chunk which continues the zig-zag movement of the Big Bear foreclosure market over the past year. Year over year, foreclosure filings were down 33% from the October 2009 numbers, the tenth straight month that foreclosure filings were down year over year. Foreclosure filings are made up of three parts - Notices of Default (NOD), a recorded document that starts the foreclosure process, which is normally filed … [Read more...]
Snow Hits Big Bear!
November 21, 2010 by Leave a Comment
This is the first snow fall of the year and it's starting early. Should be a great week to celebrate Thanksgiving with the family. … [Read more...]
Top 10 Reasons to Buy a Home in Big Bear Lake
November 18, 2010 by Leave a Comment
If you have considered a mountain property, here are 10 great reasons to purchase a home now in Big Bear Lake. 1. Interest Rates are at an all time low! Today's rates are near 4.30%, which is free money to anyone who remembers the rates 20-30 years ago. The lower the rate, the lower your monthly mortgage payment. 2. Prices are the lowest they have been since 2003 - while they still may go down a little more, any hike up in the interest rate is bound to negate any savings by waiting. 3. Big Bear Lake has a … [Read more...]
Big Bear Home Sales – October 2010
November 15, 2010 by Leave a Comment
Home sales in Big Bear dropped 6% in October 2010. The median sales price dropped considerably, down 12%, while average sales price dropped 16% in October. Big Bear Home Sales Home sales in October (79) were down when compared to the September sales (84). Year over year, sales were down 17% from October 2009 (94). 32, or 40%, of the 79 sales were bank owned, up 11% from last month and more in line with what we've been used to seeing. 7 of the sales, or 9%, were short sales, which is 1% more than last … [Read more...]
