Posts from ‘July, 2009’

A common practice I am seeing from many prospective buyers of Big Bear bank owned properties, is that even once they have identified a property as a bargain, they still want to “low-ball” their offer to the bank. Although I can not blame them for wanting to do so, more often than not, this client gets outbid and [...]

It seems like distressed properties are the “in thing” right now. Justifiably so, being that they are oftentimes priced aggressively. But how many foreclosures are out there and how fast they are moving. Looking at the graph below may shed some light on things: Over the last 30 days, Big Bear real estate has averaged 42 [...]

This blog has well documented the decline in home inventory as well as the increase in sales over last year as optimistic signs that things are getting better. The latest trend, a consecutive three month increase in median sales prices, is the latest sign that things are changing. I have repeatedly said that “three months makes a trend”, [...]

A regular reader of my blog emailed me the other day with an interesting question about how much value homes lose each year due to their “aging”. Of course, there are several factors that affect a home’s value, and each property has to be looked at on an individual basis. But in the spirit of [...]

In real estate, particularly real estate in Big Bear, it’s tough to put a solid number on how much the market has changed. There is no definitive measure that can tell you how much prices have gone up or gone down. Ultimately, we are forced to look at average price, median price, resales and other [...]

Looking at the the first half of 2009, and reviewing June sales, the number of Big Bear real estate sales continue to increase while prices seem to be stabilizing. The first half of 2009 saw an increase of almost 20% in Big Bear single family residence sales when compared to the first half sales on 2008. [...]