Like most tourist destinations, our mountain community saw a record number of visitors in 2020 and 2021. We also experienced a significant increase in buyer interest which resulted in record sales numbers. In 2020, 1,814 single family residences sold and, in 2021, 1,753 were sold. This represented a 35-40% increase compared to 2018, 2019 (and likely will be for 2022 as well). All information and stats are pulled from the local Big Bear MLS only. Of these sales, many buyers opted to vacation rent the homes they … [Read more...]
Looking For A Vacation Rental Property in Big Bear? Here’s Some Tips to What Makes One Successful…
April 11, 2020 by Leave a Comment
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!
April 9, 2020 by Leave a Comment
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?
February 16, 2015 by 1 Comment
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
November 5, 2013 by 13 Comments
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...]
Understanding the Value of a Real Agent
September 19, 2013 by Leave a Comment
Not long ago, you had to go to a real estate agent in order to get information on property listings. Books filled with all the local real estate listings were distributed to real estate offices and the agents would review the books and find homes that matched their clients' needs. This information was not readily available to the public. The times have drastically changed. Today, much of the once-private information is now public. But does that mean you can handle the entire real estate transaction on your own? … [Read more...]
Big Bear Real Estate News
September 5, 2013 by Leave a Comment
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
September 2, 2013 by Leave a Comment
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...]
How Much Should I Offer?
May 29, 2013 by Leave a Comment
What you offer on a Big Bear property depends on a number of things, such as the maximum price you’re willing to pay for the home, the risk of losing the home to another buyer, appraisal value, and how realistic the asking price is. Though homes in Big Bear are selling for an average of 96% of the listing price, there is no cardinal rule for a fixed amount that a seller will negotiate from their asking price. Every property & every seller is unique. The Big Bear real estate market is in a transition from a … [Read more...]
Big Bear Lake Transient Private Home Rentals (TPHR) Ordinance
April 12, 2013 by Leave a Comment
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...]
