It's been quite a while since I posted some stats on the Big Bear real estate market. To say things have been busy the last 8 months since my previous real estate market update would be an understatement. Things are busy in Big Bear, just not overly productive :-). "I am working twice as hard to make half as much," I like to say. But, I'm not complaining. That said, I had a buyer come in the office yesterday asking where to find my updated monthly sales stats for Big Bear. He was generally upset that I have … [Read more...]
Search Results for: foreclosure
What Do Real Estate and Weather Reports Have In Common?
May 16, 2011 by Leave a Comment
Link to YouTube video. They are most accurate when describing local conditions. I wrote a post several years ago on this same topic but it is still just as important today - especially given all the news about homes prices, sales numbers, and foreclosures that get published every month. The key point is this - just as you wouldn't watch a weather report in San Francisco (insert any other City name here other than Big Bear) and assume it must be the same weather conditions in Big Bear, you shouldn't take advice … [Read more...]
5 Options for Big Bear Sellers
January 28, 2011 by Leave a Comment
Link to embedded video here. Seems like I go over this several times a week with potential sellers. What are their options in this real estate market? Here are my answers - 1. Sell it - easier said than done. This can be difficult to do if they bought it or refinanced it during the 2003 to 2008 range as many owe more than the market value. 2. Sit & wait it out - not the best choice in my opinion as I don't see any reason things will be better over the next couple year. There number of properties … [Read more...]
Buying a Fannie Mae Property – First Look Policy
June 7, 2010 by Leave a Comment
Fannie Mae properties are a lot different than other REO or bank foreclosures. Just one of the differences is the First Look program - the first 15 days a property is listed for sale (or listed on HomePath.com), they will only respond to offers from "owner occupants and those using public funds." This affects Big Bear home buyers as nearly 80% of them are second home buyers. While they can still submit their offers at anytime, they will have to wait until the 15 days expires in order to get a response from … [Read more...]
Who Knows What To Believe Anymore?
June 1, 2010 by Leave a Comment
Ever wonder why consumers lack trust in anything they read anymore? Check out these real estate market headlines I received in are recent update from C.A.R. California’s median home price up 21 percent in April from a year ago Nearly 75 percent of homes are affordable Foreclosures plateau—finally. Repossessions soar. Real estate's new problem: not enough homes What kind of homeowners choose to default? Consumer confidence on the rise Maybe it is just me, but does anyone else see the conflict in … [Read more...]
2009 Big Bear Real Estate Market Recap
January 23, 2010 by Leave a Comment
The real estate market in Big Bear for 2009 can be summed up in 9 words - Sales up, Prices down but stabilizing, & Inventory shrinking. Did you count? :). Big Bear home sales rose 33% in 2009 while the median and average sales prices dropped 17% from the 2008 numbers. Year to Year Comparison Year # of Homes Sold Median Sales Price Average Sales Price Days on Market List Price to Sales … [Read more...]
Improve Your Price, and Improve Your Selling Opportunities.
January 6, 2010 by Leave a Comment
The Big Bear Real Estate Market is not unlike any other market - Price is still the best indication of value. The most important piece of information your Realtor will provide is the market price. Get ahead of it, and you will be on your way to your next Real Estate destination. Spending time or money on improvements that a buyer may or may not want will cost a seller big money in a market that is falling. Get the home clean, remove the clutter from the yard and interior, paint with neutral colors if needed, … [Read more...]
Buying Properties At An Auction – Waste Of Time or Hidden Gems?
December 5, 2009 by 1 Comment
On the whole, I say a big old waste of time. But let's be clear on what kind of auctions we are talking about. 1. Trustee Sale Auctions (Foreclosure Auctions) These are the auctions sold at the court house steps. This is the third step (behind notice of default and notice of sale) of the foreclosure process in CA, where bidders can show up and purchase the lien position (specific rights) to the property. From my experience, there is a lot of opportunity at these type of auctions. But, with opportunity comes … [Read more...]
Big Bear Home Sales – October 2009
November 8, 2009 by Leave a Comment
Big Bear Home Sales For the second month in a row, Big Bear home sales are near their two year high. Home sales in October were down 3 % when compared to the September sales (94 v. 92), but were up 26% when compared to the same month last year (92 v. 73). June thru October have been the strongest selling months we've seen during this down market. While it is still a lot slower than the middle part of the decade (we were selling 150-300 homes per month then), and this is typically the busiest time of the year … [Read more...]
