Big Bear, CA Real Estate News

By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny. 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 summer season for Big Bear, sales will pick up even more. But, so will the properties coming on the market. The total inventory of houses on the market is currently at 1094. This number could easily be 1500 by July 4th of this year. So, even if...
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By Israel Barden
(RE/MAX Big Bear Village)
Originally Posted At http://www.bigbearilluminated.com/Bank owned properties are all the rage for buyers these days. Every other client I deal with is after the deal of a lifetime and REO's seem like the solution. In many cases they are. The banks are pricing these properties to sell and a good buy is a sure bet. However, being too greedy can throw a wrench in the works. If a bank owned home is already listed at $100,000 under value, than it is a fantastic deal. In most cases, the bank is not going to go much lower. If you are going to offer $100,000 on a home that last sold for $400,000, the odds are not going to be in your favor. In many cases, the bank won't even bother countering such a low ball offer. It all depends on the condition of the home and how much is owed on it. If the ho...
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By Joe Pecoraro
(REMAX- Big Bear)
Originally posted on Big Bear Real Estate Blog Bank Owned Properties are coming onto the market at a pretty steady pace in Big Bear Valley. While many people would consider any home in the mountains special, there are five REO properties currently on the market have an attribute(s) that seperate them from the rest. 39380 North Shore Uniqueness Factor=Possible lot split/Three Units Located across the street from the lake with beautiful views. This Fawnskin property offers a very unique opportunity. Sitting on over half an acre with three units and a over sized detached two car garage, you will be hard pressed to find a bank owned property with so many possibilities. Keep the main house and garage and scrape the other two smaller units, they are non conforming anyways,then split the lot a...
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By Steve Hirschler, Big Bear Real Estate
(Keller Williams Big Bear)
     10 YEAR AVERAGE - DEED RECORDINGS                      Year  1998199920002001200220032004200520062007Monthly 10 Year2008% of RankAverageAverage                Jan 9612512515813019416312813977121344433%Feb 9712615812814816917314711280111344332%Mar 1321831741681871972191861189991665935%Apr 1101591691502132272381701318110165 0%May 129151193182269200268171132998179 0%Jun 154161198207224199246188148787180 0%Jul 188195180187247228275171108956187 0%Aug 1851912562642922462631981591061216 0%Sep 202231248199274281263228121822213 0%Oct 216188270224302227236199123773206 0%Nov 221227217187241231224192115874194 0%Dec 179237194199276216214186111685188 0%Total 1909217423822253280326152782216415171029 2163 0%     Yr Rank 86451327910       2006 vs. 2007  68%           This is the latest information ...
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By Israel Barden
(RE/MAX Big Bear Village)
Originally posted at http://bigbearizzy.typepad.com/This little beauty just came on the market a few days ago. For a bank owned property, it is in fantastic shape. Built in 2005,this is practically brand new. It is located in Erwin Lake and is 702 square feet on a 2,310 square foot lot. At only $116,900 this is a deal that is impossible to beat. As a matter of fact, this cabin sold for $175,000 two years ago. At a price this low, this won't be around for long. If you would like more info on this or any other Big Bear properties, give me a call at 909-273-8980, or shoot me an email at izzy@bigbeargallery.com. I'd love to take you out and show you all the great buys that are currently available.
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By Israel Barden
(RE/MAX Big Bear Village)
It's a beautiful day up here in Big Bear Lake. The snow has finally just about melted away and it is getting warmer with every passing day. The marinas are open for business and boats are once again out and about on the open water. The time of year all residents love is here again. After a hectic winter season, it's really nice to have the town to ourselves and be able to relax and enjoy everything our little town has to offer. There are no lines to get into the movies and no waiting at our favorite restaurants. Even traveling up and down the mountain has gotten a great deal easier with less traffic. If you are in the market for a Big Bear home, now is a great time to come up and take a look. Just think, you can enjoy Big Bear in peace and quiet. We still have everything to offer, just ...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny. 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 real estate market:Second homes are discretionary purchases, and there is a natural tendency to pull back from big-ticket items in periods of uncertainty.This seems relatively straight forward though we are still seeing some big ticket sales....
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny.Below is a market update for residential properties in the Big Bear Valley during the week of March 31 to April 6. New listings and pending sales were up from the previous week while closed sales were down. The majority of closed sales continue to occur in the Big Bear Lake areas of Boulder Bay, Gilner Point, Ironwood Estates, Eagle Point, Fox Farm and Moonridge. The areas of Big Bear City, Erwin Lake, Baldwin Lake, Lake Williams and Sugarloaf are still seeing very few sales. Average days on the market for closed sales this week was 138 days and the average list price to sale price ratio was 94%. The median sales price was $229,000. These are good numbers to keep in mind when understanding the real estate market in Big Bear. This information is u...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny.Below is an update for the Big Bear real estate market as of 4/7/2008. The residential properties listed for sale in Big Bear are up 11 from 1078 homes for sale to 1089 total. The number of houses in escrow are up 16 from last week to 107 while sales year to date now stand at 114 Big Bear homes sold since the beginning of the year, up 7 from last week. Vacant land listings in Big Bear are up by 3 to 340 parcels now for sale. The number of pending sales are up 2 from last week for a total of 28 escrows for vacant land. There were no new closed sales so year to date sales for vacant land still stand at 16 closed sales, which is still very slow as compared to the 114 houses sold. The number of condos for sale in Big Bear was up 2 for a total of 64 w...
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By Israel Barden
(RE/MAX Big Bear Village)
Originally posted at http://bigbearizzy.typepad.comWith the large amount of home owners in financial difficulties these days, short sales are becoming more and more prevalent. Some really great prices on short sale properties have been coming on the market every day in Big Bear. While they can be a good buy, there are a few things you need to be aware of.First, just because a Realtor lists a property as a " Short Sale " doesn't mean it really is. Some Realtors don't do the research and just list a home as a short sale because the seller tells them he is willing to take less than he owes for the property. While that sounds great, it isn't all up the the seller. The bank has the final say on whether or not they will accept less than is owed on any particular home. A good example of this i...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny.The Big Bear real estate market saw an increase in homes sold in the month of March with a total of 46 homes sold. Historically speaking, this is still considered very slow sales activity, though it is nearly 60% higher than January and 50% 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) as compared to the previous month ($260,000). The median sales price is still down 2% from the January median sales price ($287,500). While there were more homes this past month, they are still far off the sales numbers from 2006 & 2007. March 2008 home sales were down 54% as compared to March 2006 and down 44% to that of March 2007. In addition, the median sales price fo...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny.Below is a real estate market update for residential properties in the Big Bear Valley during the week of March 24 to March 30. The market in Big Bear Lake and Big Bear City continues to be the main areas of activity when compared to Sugarloaf & Fawnskin. Given that there are 135 homes for sale in Sugarloaf, 1 closed sale and 1 pending sale this past week is drop in the bucket. At least with only 28 homes for sale, Fawnskin still has relativley few homes for sale and therefore less competition. Valley wide, the number of homes that came on the market during the week was down from the previous week while closed sales and pending sales were up. This information will be updated on a weekly and monthly basis. Be sure to check back or sign up for my e...
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By Israel Barden
(RE/MAX Big Bear Village)
With the amount of short sale listings on the rise, I thought I would give you a rundown on the last one I sold and how it went. I received an upcall at 5:45 pm on a snowy evening in the beginning of January. It was a very nice, newly married couple who had recently sold a home, and bought another in Canyon Country. They had made a good profit off of the sale of their home and wanted to invest in a vacation home in Big Bear. They already had been looking online, and knowing the town, had an area they wanted to buy already chosen. They called the office on one of our listings they had been interested in for a little while. I arrived and they were impressed that I was still working at 6:00 in the evening, which is not a common occurrence.I opened the house up and they took a good while lo...
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Origninally Posted on the Big Bear REO Blog.REO's are rapidly coming on to the market in Big Bear.  The local MLS is averaging close to three new bank owned listings a week.  With the amount of properties already in default, this trend is likely to continue.LOCATIONS AND PRICES                  REO's are now scattered all over Big Bear Valley. 33 new REO's have been listed since the first of the year.  There are currently 29 REO properties available in Big BearThe majority are on the eastern side of the valley, namely Sugarloaf and Big Bear City.  Bank Owned properties come in all different price ranges. There have been small cabins under $100K. And newer large home a block from the lake, including a dock, for just under a million. No matter what price range you are looking in, chances ...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny.Better late than never they say. Below is the update for the Big Bear real estate market as of 3/31/2008. The residential properties listed for sale in Big Bear are down 25 from 1103 homes for sale to 1078. Part of the reason for the big jump down is that 15 homes came off the market this morning as expired listings. I would expect those properties will be re-listed soon and add to the numbers. So, the real net loss is closer to 10, or around 1093 houses for sale in Big Bear. Be on the look out for the number of homes on the market to increase dramatically over the next 60-90 days. Our summer selling season is coming up and we will start seeing 15-20+ homes coming on the market everyday come May & June. The phones are already ringing from interes...
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By Israel Barden
(RE/MAX Big Bear Village)
I woke up this morning, looked over at my beautiful wife and daughter, and took a moment to just appreciate how very lucky I am to live in Big Bear. As I was thinking, it struck me how quiet it was. I didn't hear any traffic, noisy neighbors, or anything else to spoil my tranquility. As much as I wanted to lay there and do nothing, there was work to be done. I got up and prepared for my day. The first thing I saw as I walked out the door was a gray squirrel on my deck, just looking at me. He chirped a few times and ran up the nearest tree. I don't know about you, but watching the squirrels run about is very entertaining to me.As I drove to the office, a whole 12 minutes away, I could see the sun just over the lake. Sunsets and sunrises are second to none in Big Bear. I can tell you, but...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny. Below is a market update for residential properties in the Big Bear Valley for the week of March 17 to March 23. Given that residential properties are the majority of sales in Big Bear, I have focused on this type of property. If you are interested in the stats for vacant land, commercial, or condos, please let me know. New, pending, and sold listings in Big Bear Lake were very similar to the prior week with no major swings noted. Pending listings in Big Bear City nearly doubled last week, up from 3 to 8, with the average days on the market for pendings down by nearly 2/3rds. New listings and sold listings had similar stats to the previous week. Sugarloaf real estate numbers were also pretty consistent with the previous week. With one closed sal...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny.Below is the update for the Big Bear real estate market as of 3/24/2008. The residential properties listed for sale in Big Bear are up 22 from 1081 homes for sale to 1103. There are 51 more homes on the market now as compared to 5 weeks ago when I started tracking these numbers. The number of homes in escrow is down 1 from last week to 91 while home sales year to date are now at 92 Big Bear homes sold since the beginning of the year, up 10 from last week. That makes for 23 homes sales in the past two weeks....not bad. Vacant land listings in Big Bear are down 3 to 336 parcels now for sale. The number of pending sales is down 2 from last week for a total of 23 escrows for vacant land. There were 3 new closed sales this past week so year to date sa...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny.A recent article by the L.A. Times says the median price of homes in the Big Bear area dropped between 15-25% in February of 2008 as compared to February 2007. AreaNumber of SalesMedian PriceDrop in Price from 2/07Median Price Home Per Sqft.Big Bear Lake 9231517$333,000-24%$243Big Bear City 9231411$235,000-14.6%$221Sugarloaf 923866$164,000-21.9%$146Fawnskin 92333n/an/an/an/aIt is interesting to compare this to the median home prices for Big Bear that I posted on earlier this month. My stats show an average drop in the median homes prices of 14% for the Big Bear area in the month of Feb. I am using the Big Bear MLS for my stats while it looks like they might be using title records as they are showing 3 more sales in the month of February than I am...
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By Tyler Wood, Big Bear Real Estate
(RE/MAX Big Bear)
Originally posted at The Big Bear Skinny.Below is a market update for residential properties in the Big Bear Valley for the week prior. Given that residential properties are the majority of sales in Big Bear, I will focus on this type of property. If you are interested in the stats for vacant land, commercial, or condos, please let me know. This information will be updated on a weekly and monthly basis. Be sure to check back or sign up for my email newsletter to be kept informed on the real estate market conditions in Big Bear. Big Bear Lake 92315New Listings16Median Price$386,500Price Range$159,900 to $1,198,500Pending Listings6Median Price$379,500Price Range$225,000 to $1,150,000Average Days on Market63Sold Listings4Median Price$925,000Price Range$219,900 to $1,900,000Average Days on ...
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