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2 Things That Do Not Affect Big Bear Real Estate Values

Click here if you cannot see the embedded video. 1. What the seller paid for it. 2. What the seller needs to get out of it. The market value is what it is, and has no relation to what the seller got it for, or what they owe or need to get out of it. While it may determine whether or not a buyer wants to buy it, or whether or not a seller wants to sell, it does not change the current market value. Your thoughts? … [Read more...]

Big Bear Home Prices Down 15-25%

A recent article by the L.A. Times says the median price of homes in the Big Bear area dropped between 15-25% in February of 2008 as compared to February 2007. Area Number of Sales Median Price Drop in Price from 2/07 Median Price Home Per Sqft. Big Bear Lake 92315 17 $333,000 -24% $243 Big Bear City 92314 11 $235,000 -14.6% $221 Sugarloaf 92386 6 $164,000 -21.9% $146 Fawnskin 92333 n/a n/a n/a n/a It is interesting to compare this with the median home prices for Big Bear that I posted on earlier this … [Read more...]