Buying a home in Big Bear these days is not like it used to be a few years ago. If you were breathing and could sign on the dotted line, there was a lender out there that would find you a loan. All joking aside, getting a loan for a property is tough. Home buyers not only need to come in with more money down, they need to have higher credit scores and all-around better financial stability. The lack of money available to be loaned makes it nearly impossible for all but those with the lowest credit risks to get a … [Read more...]
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Can I Keep The Buyer’s Deposit If They Cancel The Deal?
November 7, 2008 by Leave a Comment
This question always seems to come up from a seller when the buyer decides to back out of a real estate transaction or purchase. The answer to the question, as with a lot of real estate related questions, is "it all depends." Take a look below for my answer. [viddler id=ae8a8b4&w=437&h=368] Like the video above? Check out some of my other video posts. Related Articles Let's Be Earnest When Talking About A Good Faith Deposit … [Read more...]
Big Bear Home Sales – October 2008
November 6, 2008 by Leave a Comment
Home sales in Big Bear increased 28% in October 2008 as compared to the same month last year, but fell 11% from the September 2008 home sales number of 82. Though it is down, it was still the second best month for homes sales in Big Bear this year. The median price for the homes sold was $255,000, up 12% from Sept. 2008 but down 18% from Oct. 2007. The median price has been quite sporadic the past 6 months, ranging between $205,000 to $290,000. With such a limited amount of sales, any slight variation can throw … [Read more...]
Pricing A Property In Big Bear – Follow Your Real Estate Gut
November 3, 2008 by 1 Comment
Pricing a property in Big Bear is a lot different than your standard tract home or primary home location. The fact is that the properties in Big Bear can be dramatically different, even when they are in the same location. We have many areas with big homes next to small homes, old homes next to new homes, homes on the lake and homes off it, homes with ski slopes views and home with out a view. There are very few locations that contain homes with a lot of commonality between them. Areas with upscale, newer homes … [Read more...]
What’s More Important, Asking Price or Sales Incentives?
November 1, 2008 by Leave a Comment
Every seller is looking for a way to get their home sold in this market. With only 1 out of every 15-20 Big Bear homes selling every month, it is understandable to want to try every possible strategy. One question that comes up a lot is whether to offer sales incentives to help entice more showings and a buyer. The most common types of these incentives include a buyer's agent bonus, raised selling commission, and the seller paying some closing costs for the buyer. While offering sales incentives can help a … [Read more...]
Big Bear Lakefront Properties – A Different Kind Of Animal
October 28, 2008 by 2 Comments
Lakefront properties in Big Bear are the most sought after type of property in our area. Understandably, there is something inherently desirable, albeit romantic, about have a home on the water, not too mention a vacation cabin or second home. The tough part is that there are less that 600 homes on the lake in Big Bear, and less than 5-10% of those that are typically on the market for sale. As you can imagine, this creates quit a bit of demand and thus puts lakefront properties on the top end of the pricing scale … [Read more...]
Who Pays The Buyer’s Agent In A Real Estate Transaction?
October 27, 2008 by Leave a Comment
The real estate business is very complex. There are a lot of documents to go over, countless time frames & legalities to maneuver around, and various issues & unique personalities to deal with in every real estate transaction. While I work in this business every day, it is no wonder that buyers & sellers have a lot of questions about how our business works. One of the questions that comes up often is the title of this post, "Who pays the buyer's agent commission?" Check out the video below for my … [Read more...]
Short Sales, Foreclosures, & Bank Owned / REO Properties – What’s The Difference?
October 23, 2008 by Leave a Comment
I received a question last week on Trulia.com asking about the difference between a bank owned property and a foreclosure. These terms can be confusing to those who are not in the business, and even for some of us in the business. Here's a short video explanation of the differences between bank owned properties, foreclosures, and short sales and how they are all related in the end. Feel free to add comments or ask me any questions. [viddler id=6a9e0eb6&w=437&h=368] … [Read more...]
Sales Up, Prices Down In Big Bear Lake
October 21, 2008 by Leave a Comment
There was some surprising news to come out yesterday regarding home sales in the Southern CA area. Sales were up quite a bit in September 2008 though prices were down. I guess some news is better than no news at all but I think this report needs to be looked at in the proper perspective. I had a couple thoughts about it, check out the video below. [viddler id=75e77d9&w=437&h=368] Mr. Mortgage, as always, also has some good points on this article. … [Read more...]
