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Sellers Respond Better to a Written Offer.

[youtube]https://www.youtube.com/watch?v=9plp0akOuYI[/youtube]   Direct link to YouTube video. Sellers respond better to actions than words. Recently I have had lots of calls on my listings from agents representing buyers interested in knowing if we get any offers. I have even had my own buyers tell me to let them know if we get an offer on a home that they are interested in. I want to remind everyone of a rule that applies to many things in life, ACTIONS SPEAK LOUDER THAN WORDS. Real Estate is a … [Read more...]

Big Bear Short Sales? Don’t Waste Your Time!

If you don't see the embedded video, click here. If you are looking for a deal in Big Bear, focus on the homes that can be sold. In 2009, 80 short sale homes actually closed escrow. That is 9% of the 893 homes that closed in the Big Bear MLS. Currently there are 66 short sale listings that are in Pending, Active Contingent, or Contingent Status. That's 39% of the total Pending, Active Contingent, or Contingent Status (170). Anyone want to guess what percentage of these will actually get accepted by the bank … [Read more...]

The Right Asking Price Makes All The Difference

I talk with a lot of home sellers in Big Bear. Some are thinking of selling, and some are trying to sell right now.  The conversations are really not all that different.  Most of the time, it comes down to the pricing. Here are a couple videos I did over the past week relating to selling a home in Big Bear.  See if you can guess what the common theme is for both of these. [viddler id=2d5f7e69&w=545&h=349] This real estate market is for serious sellers only.  That's why banks make up more than 50% of … [Read more...]

Big Bear Home Sales – March & First Quarter 2009

Big Bear Home Sales After a big jump the first two months of 2009, home sales in Big Bear for March 2009 (54) slowed down a bit.  Sales were up just 10% as compared to March 2008 (49), but were down 5% from the Feb. 2009 home sales (57). Year to date though, sales are are still up 44% from 2008 (164 vs. 113). 28, or 52%, of the 54 home sales in Big Bear were bank owned and 5, or 9%, were short sales. The 21, or 39%, other home sales in March 2009 were the organic sales. Expect the bank owned & short sale … [Read more...]

So, We’ve Hit Bottom In Big Bear……..Not So Fast!

[viddler id=8b2cd2a8&w=545&h=349] There's been a lot of talk recently about the real estate market in Big Bear hitting the bottom. Rightfully so, with sales up nearly 50% from last year, interest rates under 5%, the number of properties on the market down 25%, and prices down 25% to 50% from their peak, it is natural to think we are there are close to it. I guess it depends on what you call the bottom, number of sales or prices? If it is sales, then yes, we already hit bottom last year. But, prices are … [Read more...]

Big Bear Real Estate Monday Market Update For 3/2/2009

Below is your weekly update for the Big Bear real estate market as of 3/2/2009. Property Type Listings for Sale Change from Last Week Pending Sales Change from Last Week Sales Year to Date Change from Last Week RESIDENTIAL 887 -21 113 -2 99 +13 VACANT LAND 359 -2 9 -1 4 +1 CONDOS 45 -1 5 -1 2 +1 GOVERNMENT LEASE 12 0 0 0 0 0 COMMERCIAL & RES INVESTMENT 55 +1 4 0 1 0 BUSINESS OPPORTUNITY 13 +2 0 0 0 0 TOTAL 1371 -21 131 -4 106 +15 A few notes about the market - The residential inventory is … [Read more...]

Job Growth Numbers Not A Great Sign For Big Bear Real Estate Market

If job growth & housing numbers are related, today's news is not a great sign for the real estate market in Big Bear. Employment figures released this morning show that the economy has now shed 3.6 million jobs since December 2007, included close to half that in the last 3 months alone.  The Unemployment Rate is now 7.6%. But jobs aren't fading in every housing market equally. As reported by Ajilon Professional Staffing, there are still areas around the country in which unemployment rates are low and job … [Read more...]

Big Bear Home Buyers, Here’s Some Good News : Mortgage Guidelines Ease Up

If the unfreezing of credit is paramount to an economic rebound, the first signs of a thaw may be here. Monday, the Federal Reserve released its quarterly survey of 84 member banks.  In it, the Fed says that fewer than half of its responding banks tightened "prime" mortgage guidelines over the last 3 months. This is good news for active home buyers and other Americans in want of a new mortgage. "Prime" is a vague term with respect to home loans, but it usually refers to mortgage applicants who can … [Read more...]

The Best In Show Is First To Go

[viddler id=9775a0e6&w=545&h=349] Everyone knows it is tough to sell a home in this market.  It is not impossible though. While there are some things you cannot control, like location, there are certainly some other things that you can.   The asking price, the overall property condition, showing restrictions and the like are all things well within a seller's choice to make. Whether they decide to make the right choice is up to them. The two most important factors in getting a home sold in today's market … [Read more...]

The Big Bear MLS – Is Your Property In It?

The vast majority of properties sold in Big Bear are sold by real estate agents who live, work, and breath in Big Bear. Yet, some sellers (read:banks) list their properties with out of area agents who don't have much experience selling property in Big Bear.  It is kind of like a knee doctor working on your elbow.  Can they do it?  Sure, but are they really the expert? What's worse is these real estate agents rarely put the listing in the local Big Bear MLS (Multiple Listing Service).  How are the local agents … [Read more...]