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Big Bear Real Estate – Sales Update Thru October

Big Bear Real Estate Market Update The Big Bear real estate market is still moving along in a catfish-like manner.  It goes up, down & side to side with no clear direction of travel.  One thing's for sure, every month is different right now.  Sales were up 14% in October compared to the same month last year but prices were down 9% and 14% for the median and average sales prices respectively. Below is a real estate market update for Big Bear thru October 31, 2011. Year # of Homes Sold Median Sales … [Read more...]

Where Are The Big Bear Real Estate Buyers?

Related post - The Chicken or The Egg in Big Bear Real Estate? … [Read more...]

Low Appraisals – The Kiss Of Death for Your Big Bear Real Estate Deal.

I've had a few appraisals come in low the past couple weeks, and both times the buyers chose to back out of the deal. While this certainly happens from time to time, and is part of the real estate process, there are some things to keep in mind when talking about appraisals. As the video points out, appraisals are not fact. Rather, they are the opinion of one individual appraiser. While you would expect most appraisers to agree and come to the same value on a property, they don't. This is because some … [Read more...]

Big Bear Real Estate – Finding a Place in Big Bear To Call Your Own, Part 3

The local Big Bear real estate market holds many potential opportunities.  The correction in the market has opened up several exclusive neighborhoods to the average home buyer.  Here’s a closer look at two of Big Bear’s upscale areas and why they’re great investments. The neighborhoods that make up Eagle Point are some of the most popular in Big Bear.  Homes in this area include small cabins and homes located close to Meadow Park for the entry level buyer, custom lakefront and lake view homes for upper-end property … [Read more...]

Big Bear Real Estate Market Update – Thru May 2011

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...]

Is It Really a Buyer’s Market in Big Bear?

Direct link to the YouTube video. Depends on how you look at it? Sure, there are over 600 homes for sale in Big Bear right now. But, how many are truly saleable? I'd say less than 10%. By saleable, I mean priced correctly, clean and easy to show, and it isn't a short sale with no chance of getting approved. So, we've got less than 70 homes on the real estate market in Big Bear that are actually decent options for buyers to look at. When that happens, the buyers are all competing for the same ones. In that … [Read more...]

2010 Big Bear Real Estate Market Breakdown

Click here to see embedded video. PDF of the presentation. … [Read more...]

5 Options for Big Bear Sellers

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...]

Big Bear Market Absorption Rate – 7.7 Months

The absorption rate for the Big Bear real estate market now stands at 7.7 months. With 93 homes sales in November, and approximately 715 homes for sale in the area, the market is starting to come in line with a "normal" market, though it is still leaning in favor of buyers. Why is this important?  Knowing the absorption rate will tell you what the real estate conditions are like in a particular price range and area. If you are selling your property, this can help when determining the demand in your area or price … [Read more...]

When Will Prices Go Up in Big Bear?

Click here to see embedded YouTube video. This is a question I get on a daily basis. Prices are directly tied to sales and demand. The more sales (demand) we see, the higher prices should go. We've been averaging 50-90 sales the past 2 years or so. Compare that to the 200 per month we used to see back in the early to mid 2000's and you'll see demand is still pretty limited right now. Once we see a sustained amount of sales per month, in the range of 150 per month for a 6-12 month period, then we should start … [Read more...]