Vacation rentals are likely my most discussed topic while showing property to potential buyers. "How much could this generate annually?" "What are the restrictions?" "Do I need a hot tub?" "What is the best vacation rental area?" . Here in Big Bear, 80% of the homes sold are second ones and a majority of those will take advantage of the short term rental market. So what makes a great vacation rental? Let's dive in... Where should I buy? Location is a big factor (if not the biggest) when you are on your quest to … [Read more...]
Big Bear Real Estate Market off to solid start in 2020!
Residential sales in Big Bear were up 9% year over year during the first quarter of 2020, while the average sales price was up 6% as per the Big Bear MLS. There were 270 residential sales from January 1, 2020 to March 31, 2020 vs. 247 sales during the same time last year. The average sales price rose from $364,000 in 2019 to $386,000 in 2020. The average days on market went up a modest 11 days year or year. Given all of the craziness with COVID, it's important to note that the Big Bear real … [Read more...]
Is the Big Bear Real Estate Market Cooling Off?
It appears that the real estate market in Big Bear is cooling off quite a bit. 2014 was the slowest year for unit sales over the last 10 years. Take a look at the chart & notes below for some more interesting findings. Here's what I noticed - 1. Residential unit sales were down 27% in 2014 compared to 2013. I am not sure if this has something to do with the rising prices, about 10% higher year over year, or more of just a general slow down in the market. Seems to me it could be a little of both. … [Read more...]
Tips for Buying Land in Big Bear
Buying a vacant parcel and building a home in Big Bear means having total control over every aspect of a house, from the foundation to the flooring to the views. There are many things that need to be considered when buying land in Big Bear. Will a hillside location make building costs prohibitive? Am I overbuilding for the area? Can I keep horses on the property? What’s the potential re-sale value? Who is the local building authority - City v.s County? The following is a list of things to consider when purchasing … [Read more...]
Big Bear Real Estate News
In our digital economy, international, national and local economies affect our marketplace. As we keep our eye on China, the Euro, the unemployment rate and other leading indicators, the news seems to show an upswing in several economic factors. On the international scene, China’s lifting of some controls is the strongest sign that the government intends to change; according to the New York Times. Some have called the restructuring a symbolic move. But, since it signals a broader acceptance of western banking … [Read more...]
Feng Shui and Your Home
This 5,000 year old art is said to bring peace of mind, good health and happiness. Feng Shui means Wind and Water in Chinese. There are many similarities between Feng Shui and the rules of Home Staging. They both address emotional appearance; stressing clutter reduction and the use of furniture to affect traffic flow. Disney, British Airways and Donald Trump are among those westerners taking Feng Shui seriously. Here are a few guidelines for home buyers and sellers! PROPERTY SHAPE If you are buying a new … [Read more...]
Big Bear Lake Transient Private Home Rentals (TPHR) Ordinance
Vacation rentals are big business in Big Bear. There are close to 1700 private homes currently registered or pending approval within Big Bear Lake city limits. Add to that the rentals in the un-incorporated areas of Big Bear (Fawnskin, Big Bear City, Sugarloaf, etc.) and the number of available vacation rentals within the Big Bear valley is estimated to be over 2000. The City of Big Bear Lake receives over $1,200,000 annually in tax revenue from vacation rentals based on approximately $15,000,000 in sales. Back in … [Read more...]
Big Bear Lake, An In-Depth Look – Area Videos
We are continuing to roll out new videos on the Big Bear area. Today, we dive deeper into Big Bear Lake, highlighting the areas of Big Bear Lake West, Big Bear Lake Central, & Big Bear Lake East. First up, Big Bear Lake West. The most famous part of Big Bear Lake West is Boulder Bay. Known for its picturesque boulder sand lake setting, it's a beautiful sight to see as you enter Big Bear along the south shore. Big Bear Lake West is well treed & quiet, with plenty of outdoor activities nearby, … [Read more...]