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 [...]
Posts from ‘April, 2009’
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 [...]
Cash Sales Increase as Investors Enter Market
The new year has brought many changes to the real estate market. One noticeable difference is the increase in cash sales we’ve been seeing in 2009. Cash sales so far this year are about twice as common as last year and about five times what they were in 2005. This may be attributed to several factors, such [...]
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 [...]