If you are thinking of buying or selling a home in Big Bear, you may want to take a look at the absorption rate of homes that are currently for sale. This is a good way to become more informed on the most current real estate market conditions in a particular area. There is an easy to understand article here describing what the absorption rate is and what it means for the real estate market. In simplistic terms, it is a mathematical equation that tells the amount of time it will take for a specified set amount of … [Read more...]
Absorption Rates For The Big Bear Real Estate Market – October 2008
November 9, 2008 by Leave a Comment
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...]
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...]
Warning! A Scary Story On How Not To Sell Your Big Bear Home In This Market
October 31, 2008 by Leave a Comment
Selling your Big Bear home in this market does not need to be any tougher. The real estate market conditions are scary enough these days. So you can imagine my surprise when I went out on a listing appointment recently and the seller did not want to have their property listed on the open MLS. Nope, they just wanted me to know about the home, that they wanted to sell, and that they would pay me if I brought a buyer. Their plan was to let 5-6 of the top agents in the area know about their intent to sell, offer … [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...]
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...]
What Time Is It? Time To Winterize Your Big Bear Home!
October 19, 2008 by Leave a Comment
It is getting to be that time of year again when the weather in Big Bear is turning colder. It is pretty common these days that the temperatures during the night hover near the freeze mark. This will only increase as we head into winter. Given that most of the people who own property in Big Bear do not actually live in Big Bear and are only able to make it up from time to time, winterizing your home now is very important. Trust me, you do not want to take the chance of frozen pipes. The resulting damage can be … [Read more...]
MLS Data vs. Public Records – Which Can You Trust?
October 18, 2008 by 5 Comments
News about the real estate market is huge these days. There is a lot of talk about prices going down, sales going down, and lots of numbers to prove the point. But, are these numbers legit? I use the Big Bear MLS to substantiate a lot of the real estate data that I provide on the Skinny. Pulling sales data from the MLS only provides part of the story however. One of the biggest problems with the Big Bear MLS data is that it does not include all of the sales in the area. Along with the increase in REO … [Read more...]
Big Bear Home Sales For September 2008
October 17, 2008 by Leave a Comment
Home sales in Big Bear hit their highest mark of the year with 82 homes sold in the month of September. This surpasses the previous monthly high of 2008 which was 67 homes sold in the month of May. This is also 22 (27%) more than Aug. 2008 and the previous Sept. 2007. The median price for Sept. home sales was $224,500, down 21% from Aug. 2008 and down 17% from Sept. 2007. The median price has been all over the board the past 5 months, ranging between $205,000 to $290,000. With such a limited amount of sales, I … [Read more...]
