If you turn on any national news channel in the morning before work you will always see the weather forecast for the day. And sure enough, when they go to the "your neck of the woods" weather report, you will see your local weather news person give a quick 15-20 second local weather report. Seems to be just the way it is with weather reports. But then, the next segment that comes on talks about the national real estate market.....is there such a thing? No local reports as with the weather, just one report that … [Read more...]
Absorption Rates For The Big Bear Real Estate Market – September 2008
October 5, 2008 by Leave a Comment
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 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...]
What Do Real Estate Agents Get Paid For?
October 4, 2008 by Leave a Comment
Business coach Jim Rohn has a good response to this type of question. As with any job, "You get paid for bringing value to the marketplace" Rohn says. If you are not bringing value to the marketplace, then sooner or later you are not going to get paid. This is even more true in today's tough market conditions. In the life of a real estate agent, this statement could not be closer to the truth. The role of the real estate agent has changed dramatically since the days before the internet, IDX, VOW's, blogs, … [Read more...]
Absorption Rates For The Big Bear Real Estate Market – April 2008
April 28, 2008 by Leave a Comment
The time it will take to sell a house in Big Bear dropped by 10 months in April 2008. With the pick up in home sales that we saw in March, the absorption rate for the Big Bear real estate market dropped from 32.72 months to sell to 22.80 months to sell. This is encouraging news for home sellers though the market is still very heavily favored toward buyers. The market will need to get closer to a 1-3 month absorption rate in order to get back to a sellers market. Now that we are heading into the spring and … [Read more...]
Big Bear Home Sales On Par With Other Second Home Markets in U.S.
April 9, 2008 by 1 Comment
The National Association of Realtors recently released a report on second home sales that was reported on by The Dallas Morning News. The article states that second home sales nationwide dropped by more than 30% in 2007 when compared to 2006. This is pretty consistent with what we saw in the Big Bear real estate market in 2007. There were 1172 residential sales in 2006 as compared to 796 sales in 2007, a difference of 34%. I noticed a few important points to take from the article as it relates to the Big Bear … [Read more...]
Big Bear Home Sales For March 2008
April 6, 2008 by Leave a Comment
The Big Bear real estate market saw an increase in homes sold in the month of March with a total of 46 48 homes sold. Historically speaking, this is still considered very slow sales activity, though it is nearly 60% 65%higher than January and 50% 54%higher than February of this year. The median sales price for homes sold in the month of March also increased, going up nearly 8% ($282,000) 10% ($2865,00) as compared to the previous month ($260,000). The median sales price is still down 2% only down $1000 from … [Read more...]
Absoprtion Rates For Big Bear Real Estate – March 2008
March 16, 2008 by Leave a Comment
The absorption rate provides a clear picture of what is happening in the real estate market and is good to share with buyers and sellers. I determine the absorption rate for Big Bear by taking the previous month's sales in a particular price range or area (you can use others like bedrooms, square footage and such), and divide that into the total number of available properties in that same criteria set. This will give you the amount of months it will take for the market to absorb the properties for sale, assuming … [Read more...]
Big Bear Home Prices – Are They Going Up Or Down?
March 9, 2008 by 1 Comment
There are a few different ways to answer this question. Looking at the average sales price or the median sales price are a couple of the most popular ways to do so. One way that I thought would be interesting is to look at direct comparison of some Big Bear properties that have sold the past few years. I pulled data on some properties that sold within the past few years and have subsequently resold, and then compared the sales price data. It is interesting to see how the home prices have fared in Big Bear the … [Read more...]
Would You Buy This Big Bear Home?
March 8, 2008 by Leave a Comment
The listing price is $244,950, 2 bed, 1 bath, 1,020 square feet with a detached garage. This photo was pulled from our Big Bear MLS this morning. It has been on the market 36 days with this same photo. Given that close to 80% of all home buyers are now going online to start their search, the fact that first impressions and curb appeal are huge, and the reality that there are many properties/options on the market for sale, does this photo make you want to buy this home? I would think most buyers are going to pass … [Read more...]
