Posts under ‘Uncategorized’

It’s hard to imagine there’s a silver lining to the stock market drops we’ve seen over the last week. But a nice result of falling stocks is usually falling mortgage interest rates. And fall they did this week! As of today, the national average for a 30 year fixed mortgage is 4.31%. These rates are almost the [...]

Home sales over 1 million dollars last year increased 21% in California while overall sales statewide dropped by 9% according to a recent LA Times article. This was the first increase in luxury home sales in five years. Although this news took some by surprise, there are quite a few reasons being attributed to this upswing in high end [...]

Although mortgage lending has seen a loosening of credit and although mortgage rates are near historical lows, cash purchases continue to play a significant role in the sale of Big Bear homes. So far in 2001, 36% of sales have been cash purchases. This percentage has climbed consistently since the market turn in 2006 when [...]

From May ’10 to May ’11, the average sale price of a single family residence in Big Bear increased 4% to $265,472. There was also an increase in the average sale price in a consecutive month comparison, where the average price rose from $246,303 in April to $265,472 in May. This represents a solid 8% increase in values. On a [...]

The 61 sales of Big Bear homes this April were lower than  the 66 sales in March and the 76 sales from April 2010. Although sales were slow, prices showed some signs of life on a month-to-month comparison. The average sale price of a Big Bear home was $246,303 in April of this year compared to $229,149 [...]

 It should come to no surprise to anyone that the main force suppressing real estate values everywhere, Big Bear’s market included, continues to be distressed properties. There are two basic types of sales that are considered distress sales: foreclosures and short sales. Most people are familiar with foreclosures. In a foreclosure, also refered to as bank-owned [...]

Comparing the first quarter of 2011 to the first quarter of 2010, Big Bear home sale numbers show continuing weakness in the overall market. While the number of homes sold in Big Bear were relatively stable sliding only 1.6% from 193 sales in 2010 to 190 this year, the average sale price is down 5.3% and the median [...]

Sales in February showed improvements in some measures while others lagged when compared to February 2010. Leading the way on the positive side, the number of Big Bear homes sold increased from 66 sales of single family residences in 2010 to 71 sales this year. Average and median sale price showed modest gains as well over February of 2010 with [...]

Home sales over 1 million dollars last year increased 21% in California while overall sales statewide dropped by 9% according to a recent LA Times article. This was the first increase in luxury home sales in five years. Although this news took some by surprise, there are quite a few reasons being attributed to this upswing in high end [...]

Comparing January of 2010 to January 2011, all indicators showed mentionable price declines. The median price of a Big Bear home sold in January 2010 was $163,750, whereas this January’s median price was $150,000. This represents  an 8% decline in home values. The average price of a Big Bear home sold in January 2010 was $217,836, whereas this January’s average [...]