Below is your weekly update for the Big Bear real estate market as of 4/13/2009.
|Property Type||Listings for Sale||Change from Last Week||Pending Sales||Change from Last Week||Sales Year to Date||Change from Last Week|
|COMMERCIAL & RES INVESTMENT||61||+4||5||0||4||0|
These are the quick stats for the week –
25 new residential listings for the week – 4 bank owned, 3 short sales, and 18 organic.
11 new residential closed sales for the week – 5 bank owned, 0 short sales, and 6 organic.
19 new residential pending sales for the week – 11 bank owned, 0 short sales, and 8 organic.
It must be noted again, the majority of what is selling right now are either bank owned or short sales while the majority of what is being listed are organic listings. If you are trying to sell, and you are not short selling or a bank owned property, you’d better price it like one.
See last week’s Big Bear real estate market numbers.
Big Bear Foreclosure Update For The Week
There were 7 properties that went back to the bank, 1 less than the week previous.
The median price sold back to the bank was 41% less than the published opening bids. This shows the banks are discounting their asking prices at the trustee auction sales. One of the properties at 1029 Greenway was discounted 58%, from a $209,908 published bid to an actual $87,200 winning bid by the bank.
There are some good opportunities for buyers with cash to pick up a deal.
Below are the Big Bear properties that are set up to be sold by trustee’s sale in the next week, 30 total. Several of these are in the prime Fox Farm, Castle Glen, and Moonridge areas. If they go back to the bank, keep an eye out for these when they hit the market as they should be priced to sell quickly.
The best way to buy one of these properties at a Trustee’s sale is to know about it months in advance. We can help with that if you are interested.
The majority of these may be postponed for one reason or another, so make sure to double check before showing up at the sale.
Be sure to check back here every Monday for your Big Bear Market Update or sign up to get this emailed to you every week.
* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area or data on properties in Big Bear that are listed in other MLS systems.