The Big Bear real estate market has been picking up steam lately thanks to the correction in home prices and historic low interest rates. And while many potential home buyers have been waiting on the sidelines for an indication that the market has bottomed out, the recent up-tick in interest rates may be signaling that the time to buy a Big Bear home or investment property is NOW. The most recent “Primary Mortgage Market Survey” by Freddie Mac reports that fixed mortgage rates moved higher following stronger … [Read more...]
Big Bear Real Estate – Tips For a Smooth Move
August 6, 2012 by Leave a Comment
Congratulations on selling your Big Bear home! It’s time to concentrate on the "fun" part of selling a home - packing up all those clothes, toys, and pots and pans. Here are a few tips for a smooth move. Start the packing process as early as possible. The earlier you begin packing the more organized and stress-free you’ll be. Go room by room and make notes on what’s going with you (and staying behind). Stock up on packing supplies, including: boxes, bubble wrap, newspapers, labels, markers, packing foam, packing … [Read more...]
Types of Home Loans
July 30, 2012 by Leave a Comment
The dictionary defines mortgage, as “a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms”. There are many features to consider when securing a home loan. You’ll want to consider the size of the mortgage, method of repayment, interest rate and maturity of the loan. Fixed Rate Mortgage 75% of all mortgages are fixed rate, it’s the mainstay of the home loan industry. They’re popular because they’re predictable. Borrowers … [Read more...]
Big Bear Sellers, Time is Not on Your Side.
July 23, 2012 by 1 Comment
Click here for video link. Back in the "crazy" Big Bear real estate years of 2000 thru 2007, the longer a home was on the market, the more a seller could get for it. The prices were going up every month, and sellers were getting lucky. Over the past 5 years however, this process has flip flopped. Generally, the longer a home sits on the market, the lower the price it will fetch. Seems pretty simple. Yet, sellers continue to tell me they want to sell, but they are not in a hurry. Therein lies the … [Read more...]
The Escrow Process – Part 1
June 29, 2012 by Leave a Comment
Congratulations! You’ve negotiated an agreed upon sales price on a perfect piece of Big Bear real estate. So now what happens? It’s time to open escrow. Very simply defined, an escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a particular condition or event. In California, escrow companies are regulated by the Department of Corporations or the Department of Real Estate and must undergo constant scrutiny. They are required to hold funds in … [Read more...]
Big Bear Real Estate – The Skinny on Home Inspections
June 27, 2012 by Leave a Comment
Every Big Bear real estate purchase agreement should include a provision for a home inspection. The following list covers the basic elements that a home inspector will check. You can also use this list to help you evaluate properties you’re considering for purchase. Structure: A home’s structure impacts how the property stands up to weather, gravity, and the earth. Structural components, including the foundation and the framing, should be inspected. Exterior: Big Bear weather and sunlight can be tough on homes. The … [Read more...]
Home Appraisal Tips
May 20, 2012 by Leave a Comment
Home appraisals are meant to establish market value. A lowball appraisal can kill your real estate transaction. A Home Appraiser is a specialist who uses mathematical analysis to determine your home’s value (Sales Comparison Approach). This value is based on similar homes in your neighborhood. First, the value per square foot is determined and applied. Then the appraiser looks at the overall condition of the home. 1. All appraisers are not created equal Appraisals are not fact. Rather, they are the opinion of … [Read more...]
Big Bear Real Estate – From “For Sale” to “SOLD”
April 25, 2012 by Leave a Comment
When it comes to selling Big Bear real estate you have to understand the marketing process to reach the ultimate goal of a closed escrow. Here are a few crucial tips for selling your Big Bear home in today’s challenging market. Choose the right agent Choosing an experienced agent to help guide you is the most important step in the marketing and sales process. Unfortunately, there are dozens of agents that claim to be Big Bear real estate “Experts”. Working with an unqualified agent can cost you time and money. … [Read more...]
New Real Estate Trends
April 22, 2012 by Leave a Comment
The National Association of Home Builders expects future housing trends to reflect the current economic and demographic changes of our society. They believe the average size home will be reduced by about 400 sq. ft to 2100 sq. ft. These homes will be energy efficient and family friendly. Expect to see homes that have larger family rooms and smaller dining rooms. Formal living spaces will be either downsized or eliminated. We may see the end of the living room. The demand for resource efficient water systems and … [Read more...]
Is The Big Bear Real Estate Market Shifting?
April 17, 2012 by Leave a Comment
That is anybody's guess but there is some encourgaing news coming out for the real estate market in Big Bear. The number of homes under contract has nearly doubled while available inventory is down about 25%. Most people are concerned with the number of closed sales every month and what direction prices are heading, but the basics of supply and demand always come first. Based on the most recent numbers, there are some reasons to be optimistic about the Big Bear real estate market. Pending Home Sales … [Read more...]
