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...]
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...]
Big Bear Home Sales – October 2009
November 8, 2009 by Leave a Comment
Big Bear Home Sales For the second month in a row, Big Bear home sales are near their two year high. Home sales in October were down 3 % when compared to the September sales (94 v. 92), but were up 26% when compared to the same month last year (92 v. 73). June thru October have been the strongest selling months we've seen during this down market. While it is still a lot slower than the middle part of the decade (we were selling 150-300 homes per month then), and this is typically the busiest time of the year … [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...]
Vacant Land in Big Bear is Soooo 2003.
October 30, 2009 by Leave a Comment
How hard is it to sell vacant land in today's real estate market in Big Bear? Take a look at the chart below... There's been a dramatic shift in the number of vacant land sales over the past several years. In 2003, our MLS recorded 602 total vacant land sales. '04 we had 514 vacant land sales. '05 we had 482. It wasn't until the turn of 2007 that we saw a dramatic drop in number of sales. We went from 365 total vacant land sales in 2006 to 186 in 2007. And to top it off, 2008 dropped sharply with only 72 … [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...]
