There are a lot of assumptions about buying bank owned properties in Big Bear. Here are a couple that I see a lot. 1. Banks or REO sellers will take a lot less than the list price. 2. The listing price for a bank owned property is going to be aggressive. Click here to see embedded video. The fact is bank owned homes in Big Bear are selling closer to the list price than organic sales, 97% vs. 95%. Many times, banks will price their properties so aggressive that they receive multiple offers that go over full … [Read more...]
Sunday Stats For The Big Bear Real Estate Market
November 1, 2009 by Leave a Comment
If you have not already been able to tell, I am a fan of charts and graphs as I think they give you a good visual of how the real estate market in Big Bear is performing. And, it was a quiet day today so I had some time to crunch the residential market stats for Big Bear this year. First off, home sales in Big Bear for 2009 through October. Some key takeaways - Bank owned properties dominated what was selling in the first quarter of the year, but have since dropped off When the total sales dropped, organic … [Read more...]
Big Bear Foreclosure Numbers – September 2009
October 26, 2009 by 4 Comments
Bank repossessions in Big Bear were up 9% in September though the overall foreclosure filings dropped significantly. The foreclosure filings in September 2009 (180) were down 18% from August 2009 (219). Year over year, however, filings were up 122% from the September 2008 (81) numbers. Good news - we are seeing a slow down in the foreclosure numbers. Bad news - the numbers are still too high to be overly excited about the market getting better. Foreclosure filings are made up of three parts - Notices of … [Read more...]
Supply of Homes for Sale in Big Bear Flat in 2009
October 8, 2009 by Leave a Comment
It seems like most people who monitor the real estate market look at the number homes sold each month to gauge how the market is doing. On our site, Tyler does a great job of breaking down all of the sales...he looks at the number of bank owned homes compared to organic sales, month vs. month sales, year over year sales...there's a lot of useful information packed into a couple paragraphs. But looking from a different angle, I thought I would take a look at the supply side of the equation and see if there's … [Read more...]
Big Bear Home Sales – September 2009 & Third Quarter 2009
October 7, 2009 by 2 Comments
Big Bear Home Sales In typical fashion for today's volatile real estate market, September home sales in Big Bear hit a 2 year high with 92 homes sold. Home sales rose 19% when compared to the August numbers (92 v. 77), and were up 12% when compared to September 2008 (92 v. 82). The peak selling season is July thru October so increased sales are not to be unexpected during this time frame. But, the last 4 months have also been the strongest stretch we've seen in quite a while. I believe this increase in sales … [Read more...]
Big Bear Foreclosure Numbers – August 2009
September 25, 2009 by 2 Comments
Foreclosure numbers in Big Bear slowed a bit in August though they still remain near record highs. The foreclosure filings in August 2009 (219) were down 10% from July 2009 (244), but were still up 27% from August 2008 (173). Foreclosure filings are made up of Notices of Default, a recorded document that starts the foreclosure process, Notices of Sale, a recorded document that sets the date for the Trustee Sale, and lastly, Trustee Sales, properties that go back to the bank or sold to third parties. Here's how … [Read more...]
Is The Big Bear Real Estate Market Headed Toward The Perfect Storm?
September 7, 2009 by 7 Comments
I believe it could be. The current state of the real estate market in Big Bear reminds me of a scene in the movie, "The Perfect Storm". Near the end of the movie, after the fishing boat and its crew battle huge waves and horrible weather, things clear up. They think they made it through. But, the storm comes right back even stronger and eventually sinks the ship & crew. This is similar to the current state of the real estate market in Bear. We've seen rough waters over the past 2-3 years, and things … [Read more...]
Big Bear Home Sales – August 2009
September 6, 2009 by 2 Comments
Big Bear Home Sales Big Bear home sales dropped in August from the 2-year high we saw in July. Home sales fell 14% when compared to the July numbers (75 v. 87), but were up 25% when compared to August 2008 (75 v. 60). Even with the drop in sales month over month, sales are still pretty strong all things considered. They are certainly not close to the sales numbers we saw 4-7 ago (averaging about 175 per month). It is typical to see sales pick up in the June to October time frames as that is our selling … [Read more...]
Big Bear Foreclosure Numbers – July 2009
August 22, 2009 by 2 Comments
Foreclosure numbers in Big Bear are still on the rise. The foreclosure filings in July 2009 were up 16% from June 2009, and 81% from July 2008. Keep in mind, foreclosure filings are made up of Notices of Default, a recorded document that starts the foreclosure process, Notices of Sale, a recorded document that sets the date for the Trustee Sale, and lastly, Trustee Sales, properties that go back to the bank or sold to third parties. While the overall news on the real estate market may appear to be getting … [Read more...]
Big Bear Home Sales July 2009
August 9, 2009 by 2 Comments
Big Bear Home Sales Big Bear home sales hit a two year high in July 2009. Home sales rose 9% when compared to the June numbers (84 v. 77), and 35% when compared to June 2008 (84 v. 62). This is great news for the Big Bear real estate market as it is the second strong month for home sales. Even if prices are still a bit volatile, strong sales are always positive sign. It is important to keep in mind that in a normal market, sales should be in the range of 150-200 per month. We are still a long ways from that. 29, … [Read more...]
