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...]
What’s Best? Bank Owned, Short Sale, or Traditional Seller?
May 21, 2009 by Leave a Comment
Many buyer's in today's market think that the deal is more important than the house. They often get caught up in the misconception that bank owned or short sale properties are the only homes that they should look at. This would be a grave mistake. Even though it is true that the bank owned and short sale properties are driving the Big Bear Real Estate market, we are still selling many units that are listed by traditional sellers. What's best? It's best to select a home that fits your needs, is in a good location, … [Read more...]
Secrets to a Successful Big Bear Short Sale: The Application Process
May 20, 2009 by Leave a Comment
More and more short sales are getting approved in the Big Bear real estate market these days. Banks simply don't want to take a property back and by completing a short sale the banks save time, money, and they get the property off their books. As a seller, you avoid the stress of a lengthy foreclosure process and you can preserve your credit rating. What is a Short Sale? A short sale is a procedure in which the borrower is allowed to sell the property for an amount less than which is owed in order to avoid … [Read more...]
Moonridge Is The Location Many Buyers Prefer.
May 19, 2009 by Leave a Comment
There are many reasons buyers pick Moonridge as the location they want to own a primary or second home. Maybe it's the proximity to Bear Mountain Ski Resort, the Moonridge Zoo, the Bear Mountain Golf Course, Snow Summit, Shopping Centers, Restaurants and the National Forest. Moonridge truly has it all, it might be the abundance of tall Pinion Pines, or the mountainous terrain that let's them know they are not in the city. Many Moonridge locations have ski slope views or lake views that are not available in other … [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 Real Estate Fast Facts 5/14/2009
May 15, 2009 by Leave a Comment
Big Bear Real Estate Fast Facts: 905 Active residential listings valley wide / only 49 (5.4%) of these are Bank Owned REO properties. Big Bear is not a foreclosure mecca, but there are some great deals to be found. Inventory is down from 2008 and holding around 900 for the last 30 days. This is usually a time of the year when the inventory naturally increases for the summer months ahead. 126 Pending sales in escrow / 40 (31.7%) of these are Bank Owned REO properties. Surprisingly, only 21 of these are short … [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...]
