I see more and more clients that are hoping to find the best deal, the one they think will be just sitting out their waiting for them to come along. Some buyers actually are looking for a cabin without the help of a local agent. This must be very frustrating. It reminds me of shopping at a big box retailer. I just wander around until I find what I am looking for. It takes me twice as long, but I know it is a waste of time to ask one of the clerks for help, since they have little knowledge of any of the products … [Read more...]
Best Doesn’t Mean Highest – The Truth Behind Multiple Offers
April 20, 2010 by 1 Comment
Bank owned listings are accounting for almost 50% of the sales in the Big Bear area. Multiple offers are becoming the norm on these aggressively priced properties and the buyers are having to learn a new strategy of making offers and counter offers. Gone are the days of endless counter offers back and forth between the buyers and sellers. Receiving a best and final counter offer is what a buyer can usually expect and there are some things that you should know when responding to these bank counters. Highest … [Read more...]
Five Mistakes Buyers Make When Buying In Big Bear
April 9, 2010 by Leave a Comment
Buying a home can be a confusing process for somebody who has not been through it several times. There are so many things to consider and so much paperwork to be completed before a transaction can be fully completed. If a buyer is not prepared for all the eventualities, it can be a very trying experience. In order to make the process as smooth as possible, I am going to list five major mistakes that many buyers make. 1. Not being pre-approved. In my mind, this is the biggest mistake a buyer can make. Most sellers … [Read more...]
Buying Properties At An Auction – Waste Of Time or Hidden Gems?
December 5, 2009 by 1 Comment
On the whole, I say a big old waste of time. But let's be clear on what kind of auctions we are talking about. 1. Trustee Sale Auctions (Foreclosure Auctions) These are the auctions sold at the court house steps. This is the third step (behind notice of default and notice of sale) of the foreclosure process in CA, where bidders can show up and purchase the lien position (specific rights) to the property. From my experience, there is a lot of opportunity at these type of auctions. But, with opportunity comes … [Read more...]
A Buyer’s Dilemma – Waiting For Prices To Drop vs. Interest Rate Hikes
November 22, 2009 by 4 Comments
I saw this graph recently and thought I would share it. Nothing new here, people have been talking about this concept for years - waiting for prices to drop more vs. the risk of higher interest rates. Well, here it is again, based on a $100,000 loan. There are two keys questions buyers need to consider right now - 1. How much more are prices going to drop in the market they are looking to buy in? Few experts believe that prices are going to go down another 20%. It could happen, especially in the upper end … [Read more...]
One Secret To Getting A Great Deal In Big Bear
July 24, 2009 by Leave a Comment
Focus your search for Big Bear properties that have been on the market for 6 months or more. Why? 1. More seller motivation. 2. Less buyer attention (your competition). 3. Probability of finding something undervalued is much better. Here are a few properties as examples. This property was listed on 1/19/2007 for $929,000. It had been in the market 908 days but is now in escrow. At 3300 sqft, it sold for comparable price to those 2200 to 2700 sqft homes in the Castle Glen area. This property was … [Read more...]
