With Memorial Day here and the summer vacation season right around the corner, the Big Bear real estate market is gearing up for what are traditionally the busiest months of the year for homes sales in Big Bear. Looking at a ten year history of the average number of sales for each month, you’ll note a significant increase [...]
Posts under ‘Market Updates’
Big Bear Real Estate Market Update – April Sales Report
The trend in number of Big Bear homes sold continued upward, as April 2009 saw a 15% increase in number of sales compared to April of 2008. To date, we have seen a 37% increase in Big Bear home sales so far in 2009 compared to the same period in 2008. Of the 61 home sales in April as [...]
Big Bear Bank Owned Properties Moving Fast…
As a follow up to a previous post about how long properties are staying on the market before being sold, (click here to see previous post) I thought I’d back up some of my comments about the best valued properties, oftentimes bank owned properties, being priced much more aggressively and thus selling much more quickly than traditional, non-bank [...]
Bank Owned and Short Sales Increasingly Popular in Today's Big Bear Real Estate Market
One of the more telling signs of the times is the increasing number of sales that are foreclosed properties. Short Sales, a somewhat preventative version of a foreclosure that occurs when a bank accepts a buyer’s offer of less than what is owed on a property, are also becoming more prevalent. Not only are foreclosures and short sales increasing on a [...]
Days On Market – A Closer Look
The number of days it takes to sell a home, often referred to as Days On Market (or DOM), can say a lot about what is going on in a real estate market. During the glory days of 2004-2005, homes in Big Bear were selling within the first few days they were listed, resulting in a low [...]
National News Turning Bullish on California Real Estate?
CNN’s weekend headline article on their on-line business page is getting lots of attention in real estate circles. The article suggests that there are quite a few positive signs showing for the California real estate market. With median prices down 41% statewide when comparing February 2008 to February 2009, and with aggressively priced foreclosures making up the majority [...]
2009 First Quarter Big Bear Real Estate Market Update
The first quarter for Big Bear real estate is off to a better start, as the number of sales are up 39% in 2009, as buyers take advantage of falling prices and low interest rates. While sales are up in the first quarter of 2009 when compared to the first quarter of 2008, prices have fallen at record rates. The average [...]
CNBC Article Supports Current Vacation Home Values
I ran across an informative article on CNBC’s website about second home values that I think prospective Big Bear real estate buyers might find interesting. It mentions the health of the second home market, how affordability is at an all time high, why the future demand for second homes is quite favorable, why people are buying [...]
Big Bear Real Estate – The Market's Direction
Probably the most frequent question realtors hear from prospective Big Bear real estate buyers and sellers is, What is the market doing? In several previous posts, I addressed the fact that the number of sales has been increasing and inventory has been generally dropping. It stands to reason that these are two good signs that the market [...]
Big Bear Real Estate – February and Year to Date Sales Numbers
Big Bear real estate sales numbers continue to show improvement in the month of February. Sales increased due to falling prices with foreclosures continuing to retain a significant market share. As a result of increased sales, inventory has dropped noticeably. Number of Sales February of 2009 saw 50 sold properties versus 30 sales in 2008. This represents [...]