Big Bear Real Estate Blog

 

Year	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	Monthly	10 Year	2008	% of
Rank	Average	Average
Jan	96	125	125	158	130	194	163	128	139	77	12	134	44	33%
Feb	97	126	158	128	148	169	173	147	112	80	11	134	43	32%
Mar	132	183	174	168	187	197	219	186	118	99	9	166	59	35%
Apr	110	159	169	150	213	227	238	170	131	81	10	165	65	39%
May	129	151	193	182	269	200	268	171	132	99	8	179	83	46%
Jun	154	161	198	207	224	199	246	188	148	78	7	180	85	47%
Jul	188	195	180	187	247	228	275	171	108	95	6	187	104	55%
Aug	185	191	256	264	292	246	263	198	159	106	1	216	90	42%
Sep	202	231	248	199	274	281	263	228	121	82	2	213	109	51%
Oct	216	188	270	224	302	227	236	199	123	77	3	206	101	49%
Nov	221	227	217	187	241	231	224	192	115	87	4	194	70	36%
Dec	179	237	194	199	276	216	214	186	111	68	5	188		0%
Total	1909	2174	2382	2253	2803	2615	2782	2164	1517	1029		2163	853	39%
Yr Rank	8	6	4	5	1	3	2	7	9	10

 

This is the most recent deed recording information for the Big Bear area. We had a 19.5% decrease in recordings for the month of November 2008 vs November 2007.  This decrease comes after 2 months of increases in September and October. Year to date for 2008 through November we are at 88.76% of 2007's year to date recordings and 60.6% of 2006. This puts the recordings at 43.18% of the 10 year average through November and only 33.75% of the best year in the past 10 for the number of recordings, 2002.

If you would like to discuss Real Estate trends for the Big Bear area, please give me a call.

Steve Hirschler

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

stevehirschler@gmail.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com

 

  Subscribe to the Big Bear Real Estate Blog

If you are inerested in buying or selling Real Estate in the Big Bear area, please give me a call.

Steve Hirschler

Market Specialist and Inventory Expert

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

stevehirschler@gmail.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com

 

  Subscribe to the Big Bear Real Estate Blog

If you are inerested in buying or selling Real Estate in the Big Bear area, please give me a call.

Steve Hirschler

Market Specialist and Inventory Expert

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

stevehirschler@gmail.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com

 

  Subscribe to the Big Bear Real Estate Blog

Moonridge Area of Big Bear Lake market information. If you would like to discuss market trends and information about Big Bear Real Estate, please fill free to give me a call.

Steve Hirschler

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

stevehirschler@gmail.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com

 

  Subscribe to the Big Bear Real Estate Blog

Moonridge Area of Big Bear Lake market information. If you would like to discuss market trends and information about Big Bear Real Estate, please fill free to give me a call.

Steve Hirschler

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

stevehirschler@gmail.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com

 

  Subscribe to the Big Bear Real Estate Blog

If you are inerested in buying or selling Real Estate in the Big Bear area, please give me a call.

Steve Hirschler

Market Specialist and Inventory Expert

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

stevehirschler@gmail.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com

 

  Subscribe to the Big Bear Real Estate Blog

How many overpriced homes have sold lately in your neighborhood? Are there a many people buying houses in your home town just because the agent had stupendous marketing?

I am not going to try to over analyze a simple topic

There is a common denominator with all homes that are currently selling.... they are priced at or below market value. They are priced like the bank owned and short sale listings. They compete with the best values in the market.

No amount of marketing will sell an overpriced house. None of the gimmicks, no talking signs, no flashing lights, no open houses, not even a higher commission to the selling agent.

In today's market, it is all about the price. If the price is wrong, you loose.

The single most important item in determining if your house sells is the price. Don't try to build in a little cushion in the price.  

If your going fishing in the Big Bear Lake housing market, you'll want to have the best bait. 

Pricing your Big Bear home over market value will net you a stale listing.

So, when do you want me to start telling you the truth Mr. Seller?

As you can see, this is not a new topic for me. I would rather hammer my toes with a sledge hammer, than loose money for a seller that is chasing the market down.

Steve Hirschler

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

stevehirschler@gmail.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com

 

  Subscribe to the Big Bear Real Estate Blog

I have seen a shift in buyer behavior over the past 6 months. It really should be expected with the market conditions, media coverage and increasing numbers of bank owned and distressed properties. The shift in behaviour is the lack of trust and confidence in their agent. They seem to think that we are trying to pull one over on them, even when we have shown them the best inventory available.

In the past 6 month I have had no less than 7 buyers miss the house that was the best fit. This happened because they wanted to either place a ridiculously low offer, or over analyze the property until it was picked up from the buyer that had already gone through this routine.

Buyers in the Big Bear market are coming from areas that have higher percentages of bank owned properties than Big Bear. This leads to the misconception that you can buy a home in Big Bear for 20% or more off of list price.

The chart below shows the statistic for the last 72 residential sales for  Big Bear Valley. This includes Big Bear Lake, Moonridge, Fox Farm, Fawnskin, Big Bear City, Erwin Lake, Sugarloaf, Lake Williams, and Meadowbrook. As you can see, we have a diverse market. The price range for homes sold is from $80,675 to $2,286,500, with an average days on the market of 144. The price differential (the difference between the list price and price sold) is 94.40% or an average purchase price of only 5.60% off of list price.

What does all of this mean to a buyer? I believe this information shows that lower price homes are selling closer to list price than higher priced homes. Not only is the percent higher, but the dollar difference is bigger the higher the price. Have your agent pull the pricing history along with the days on the market for the property that you are making an offer on. Pull comparable sales and pending sales for the last 90 - 180 days. Is every home priced correctly? Absolutely not. Will you see active listings that are over priced? Yes, most active listings are over priced.

Using the sample of 72 homes shown above the highest dollar price differential was $463,500 below list. This was also the highest price sale to occur YTD at $2,286,500.

In conclusion, unless you are just testing the water, your offer should be based on factual information. Don't get caught up on having to get a big discount off of list price, unless the comps show the house is overpriced. You should understand that if you have looked at a number of houses in the price range and you're favorite seems to be a good deal, it probably is. Buying a home that seems like a good deal to a buyer, usually requires an offer that also looks like a good deal to the seller.

Steve Hirschler

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

steve@bigbeargallery.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com/

I can show you any property in the Big Bear area. Just give me a call for all of your Real Estate needs in Big Bear!

Steve Hirschler

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

stevehirschler@gmail.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com

 

  Subscribe to the Big Bear Real Estate Blog