By now just about everyone has heard about how frustrating short sales can be. Waiting week after week for any new news. It seems like many buyers look at bank owned listings just to avoid a short sale nightmare. I just wanted to share a story on a bank owned property that my client currently has in escrow. This was a very aggressively priced property in Big Bear Lake. Going in my client (who is very real estate savvy) and I knew there was going to be more than one offer. We wrote a very aggressive first offer, … [Read more...]
Big Bear Real Estate Monday Market Update For 6/8/2009
June 8, 2009 by Leave a Comment
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 … [Read more...]
Recent Sales Numbers Around the Big Bear Valley Area
June 7, 2009 by Leave a Comment
We're halfway through 2009 so I figured it would be helpful to give you an update on the activity over the first two quarters of the year. I've broken down some data for the different areas of Big Bear and here's what stands out in my opinion. Big Bear Lake Sales- 19 out of 57 buyers paid cash so far this year in Big Bear Lake. This includes Lakefront Sales. 19 were Bank Owned (REO) properties. Average Days on Market was 139. Average Price per Square Foot was $241.14/ft. As of today, there are 208 homes for … [Read more...]
Multiple Offers? Keep It Clean.
June 7, 2009 by Leave a Comment
Recently, it seems like every property that I write up has at least two other offers that I have to compete with. While the market is still not where it was, there seem to be plenty of buyers going after the best deals. If you are a buyer who is planning on getting a " deal ", you need to write your offer as clean as possible if you are to have any chance at success. By " clean ", I mean nothing extraneous. If something doesn't have to be there, cut it out. When you are in direct competition with other buyers, the … [Read more...]
Big Bear Home Sales – May 2009
June 6, 2009 by Leave a Comment
Big Bear Home Sales Home sales in Big Bear took a hit in May 2009, falling nearly 14% from May 2008 numbers - 65 in May 2008 vs. 56 in May 2009. This is the first month in 2009 where the monthly home sales were less than the same month last year. A sign of things to come? Compared to the April 2009 home sales, they were down just about 8% (61 vs. 56). Year to date, sales are are still up about 23% from 2008, but that number is rapidly decreasing (231 vs. 285). Keep in mind, sales in 2009 were close to 50% … [Read more...]
Did The Listing Expire On Your Big Bear Home?
June 2, 2009 by Leave a Comment
It's a tough market for sellers. If you are one of the home owners that has been on the market for over 6 months and your listing has expired (at least once), you are probably frustrated with the situation. You're probably wondering why your agent doesn't hold an open house. You might be asking about the photos on the property fliers and wondering if a better photo would have brought a buyer. You may be considering offering an additional commission to the first agent that can sell your overpriced home. You might … [Read more...]
Big Bear Real Estate Monday Market Update For 6/1/2009
June 1, 2009 by Leave a Comment
Below is your weekly update for the Big Bear real estate market as of 6/1/2009. Property Type Listings for Sale Change from Last Week Pending Sales Change from Last Week Sales Year to Date Change from Last Week RESIDENTIAL 910 +1 164 +4 276 +16 VACANT LAND 376 +4 13 +1 12 0 CONDOS 61 +4 3 -3 10 +2 GOVERNMENT LEASE 15 +1 1 0 0 0 COMMERCIAL & RES INVESTMENT 61 0 3 0 8 0 BUSINESS OPPORTUNITY 13 -1 0 0 1 0 TOTAL 1436 +9 184 +2 307 +18 These are the quick stats for the week - 30 new residential … [Read more...]
What you Think your Home is Worth is Important, but not a Factor in Properly Pricing Your Home.
May 29, 2009 by Leave a Comment
The price is set by the market. Using any other method to price your home will create failure. The price of active listings in your neighborhood may not be an indication of property values. Recent closed sales are the best comparable information to use for determining list price. I know that you may need a certain amount of proceeds from the sale. Your debt on the property may exceed the value, but neither of these scenarios will cause a buyer to pay over market price for your home. The best way to find out what … [Read more...]
Secrets to a Successful Big Bear Short Sale: Buying A Short Sale Home
May 28, 2009 by Leave a Comment
Fact: 1/3 of all Short Sales do not close escrow. There's either too many liens on a property, the bank won't accept the short sale, or the buyer backs out because they're tired of waiting on the bank to make a decision. Below are a few things I would recommend if you're considering making an offer on a short sale home to help make the process go as smoothly as possible from the buyers' side of the transaction: 1). Has the Short Sale been Approved by the Lender? If the bank has already accepted the price and … [Read more...]
