The California Association of Realtors (C.A.R.) residential purchase contract (RPA) has three standard contingencies built into the contract - Loan Contingency, Appraisal and Buyer's Inspections. Most of the problems that come up in a real estate transaction fall under these 3 contingencies. If the contract is left unchanged, the period of these three contingencies is 17 days after the deal is struck. As stated in the contract, the removal of these contingencies must be in writing with the C.A.R. form CR … [Read more...]
Absorption Rates For The Big Bear Real Estate Market – April 2008
April 28, 2008 by Leave a Comment
The time it will take to sell a house in Big Bear dropped by 10 months in April 2008. With the pick up in home sales that we saw in March, the absorption rate for the Big Bear real estate market dropped from 32.72 months to sell to 22.80 months to sell. This is encouraging news for home sellers though the market is still very heavily favored toward buyers. The market will need to get closer to a 1-3 month absorption rate in order to get back to a sellers market. Now that we are heading into the spring and … [Read more...]
Absoprtion Rates For Big Bear Real Estate – March 2008
March 16, 2008 by Leave a Comment
The absorption rate provides a clear picture of what is happening in the real estate market and is good to share with buyers and sellers. I determine the absorption rate for Big Bear by taking the previous month's sales in a particular price range or area (you can use others like bedrooms, square footage and such), and divide that into the total number of available properties in that same criteria set. This will give you the amount of months it will take for the market to absorb the properties for sale, assuming … [Read more...]
