A classic case of putting the cart before the horse. It's an easy mistake to make. With so much information available online, you might just wonder why you need a Realtor. You might be thinking, I will know a good deal when I see one. You might be thinking, Real Estate people are going to try to sell me something I don't want to buy. You might even think that the only reason you need a Realtor is to give you the price of the home and let you inside to look. You will probably end up working with the agent that … [Read more...]
What Comes First, Finding A Big Bear Home Or A Big Bear Real Estate Agent?
Real Estate Is All About Time And Money
[viddler id=d53735bf&w=545&h=349] The video above is more from a seller's prespective but time and money are very much a factor for buyers as well. The more time you have as a buyer, and the more patient you are, the better buy (more money saved) you will get. In a few years, that may change as the market start to pick up again. For now, it is a good rule of thumb. … [Read more...]
The Stimulus Package Won’t Be Much Help To Big Bear Home Buyers
With Congress reaching agreement on a $789 billion stimulus package for Americans and the President expected to sign it into law, don't expect it to help boost the Big Bear real estate market. The package contains two benefits related to the overall housing market. The first provision is fairly well-known. It gives first-time home buyers an $8,000 tax credit provided they purchase a home between January 1, 2009 and August 31, 2009. This is a true tax credit. To reduce misuse and abuse, however, the $8,000 … [Read more...]
Recent Fannie Mae News Good For Big Bear Home Buyers
Last Friday, Fannie Mae rolled-back one of its least popular mortgage guidelines updates of the last 12 months - officially eliminating its 4-financed property limit. Effective March 1, 2009, real estate investors can once again own and finance up to 10 individual properties. Why is this important for Big Bear home buyers? Given that over 70% of the homes purchased in Big Bear are for second home use or an investment property, there is a good probability that the buyer owns multiple properties. Maybe they also … [Read more...]
No, It Is Not Always A Great Time To Buy Real Estate
[viddler id=99a7b553&w=545&h=349] Yes, you heard right. There are times when buying real estate may not be the best move. But, as pointed out in the video above, the decision should be unique to each buyer. If your only motivation is to get the best deal, then waiting right now could be prudent. However, there are plenty of buyers out there motivated by different objectives - getting the right location, getting a home before a certain time frame ends, getting a particular type of home or view, getting … [Read more...]
Getting Pre-Approved For The Loan, Not As Boring As It Sounds
It goes with out saying that the getting a loan could be the biggest factor in determining whether or not a buyer is able to successfully close on a property. Along with a home or property inspection, I would say that 80% or more of the challenges that come up in buying a home in Big Bear fall into these two areas. Paying cash? Great, but you are one of the very few these days. With tighter lender standards in this market, especially in the jumbo loan category (over $417,000 for my area), getting your loan in … [Read more...]
Everyone Wants A Deal When Buying Real Estate
I get that. I would too. I have never had a buyer client say I want to overpay for a property. It is rare that they even want to pay fair market value. While everyone wants a deal, very few buyers will actually act accordingly when a deal presents itself. Buyers tend to get caught up more in the list price / offer price / sales price than the market value, so much so that when the right deal does come up, they miss it. The fact is that even in this "horrible" market, there are still an average of 50 buyers … [Read more...]
Patience Is More Than A Virtue When Buying Real Estate
Patience is the key to getting a "great" deal when buying a property in Big Bear. In this real estate market, those who have the ability to wait, be patient, and let things draw out as they may are the ones who get the best buys when it is all said and done. Every buyer wants to get the best deal possible but very few have the patience necessary when it comes time to buying a house. In today's age of text & instant messaging, twitter, and the wealth of information at your fingertips, actually having to wait … [Read more...]
Umm Good! Make Your Big Bear Home Search Dwellicious
Searching for a property in Big Bear (or anywhere)? You might want to check out Dwellicious.com. Here's a quick 4-5 minute video describing their product. [youtube]https://www.youtube.com/watch?v=8wp5_005_Rk&eurl=https://dwellicious.com/&feature=player_embedded[/youtube] Just like delicious.com does to the overall web, Dwellicious is a social bookmarking site which allows the users to bookmark listings from the popular real estate sites in one tidy spot for future reference. Consumers have ability to … [Read more...]
The Buyer’s Approved For the Loan, But What About The Property?
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...]