Big Bear Real Estate Blog

Sold year to date in Baldwin Lake, Big Bear City, Big Bear Lake Central, Big Bear Lake East, Big Bear Lake West, Erwin Lake, Fawnskin, Fox Farm, Lake Williams, Moonridge, Sugarloaf, and Whispering Forest.  

QUICK FACTS

• Closed residential sales in 2008 for Big Bear Valley. 210 sold YTD as of 5/27/2008.
• Average list to sold price is 95%.
• Average days on the market 140.
• There are 105 pending (in escrow) and 1188 active listings.  
• The top 3 highest price sales YTD have had representation by Coldwell Banker Mountain Gallery Realtors / The Tim Wood Group. 

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

A simple description of a short sale is a home that is on the market for less than the debt owed to the lender. The seller is hoping that the bank(s) will accept less than the note(s) and allow the seller to be forgiven the difference between the note and the sales price.

When the seller accepts a short sale offer, the sale is contingent on the approval of the bank that holds the note. At this point the home should show a pending status in the MLS since it has an accepted offer. The bank doesn't own the home, they approve the sale and accept the loss on the note or they don't approve and the seller can cancel the escrow because of the short sale contingency. Often a response from the bank can take 40 - 60 days. This can be very frustrating for a buyer and their agent.

Buyer's should be cautioned not to make multiple short sale offers once they have an  accepted offer. If a seller approves the offer, technically you have opened an escrow in California and have a binding contract. That is why the contract reads California Residential Purchase Agreement and Joint Escrow Instructions. Placing additional offers on other properties while waiting for the bank approval is not recommended.

Sellers that want to sell a home in a short sale situation should start negotiations with the bank holding the note(s) prior to getting an offer / as early as possible. Good comunication with the lender will be crucial to a successful short sale.

Below is a set of paperwork that I give to my sellers that might need a short sale:

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Preparation and communication are critical to the success of your short sale transaction.

Regards,

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

Big Bear Lake is near full and a great place to visit and get out of the summer heat. We have cabins in Big Bear starting under $200,000. I can show you any home in Big Bear regardless of the listing agents. For a free search of the Big Bear MLS listings with no obligation, just click here Big Bear MLS search

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

In April Big Bear's Moonridge area was the highest price per square foot sold in all of San Bernardino County and Big Bear Lake is in the second slot. Big Bear's beautiful lake and pleasant weather continue to draw visitors consistently through the summer months.

If you know anyone that is looking to buy or sell Real Estate in the Big Bear area, please give me a call.

Regards,

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

This is the latest information for deed recording activity in the Big Bear area. As you can see, the number of recordings is still well below the 10year average. Year to date we are 37% below 2007 recordings and 58% below 2006. While we have seen a slight increase in April over January Februray and March 2008 numbers, we still can't say that the market has improved. Traditionally April is busier than the first three months of the year, so a slight increase in transactions is to be expected. According to the Big Bear MLS 50 of the 65 deed recordings were residential, and 6 were vacant land. There was one condo sold in April, 2 commercial, and one business. If you would like to discuss Real Estate in Big Bear, please give me a call.

Regards,

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/

OUTSTANDING SKI SLOPE AND LAKE VIEWS, NEW ROOF, OVER SIZED 2 CAR DETACHED GARAGE, 4 OFF STREET PARKING SPOTS, FRESH PAINT ON EXTERIOR AND DECKS, FULLY FURNISHED AS SHOWN INCLUDING POOL TABLE, 4 LARGE BEDROOMS WITH VALTED CEILINGS,STORAGE AREA UNDER HOUSE W/ WORKSHOP & ATTIC ABOVE GARAGE, GREAT MOONRIDGE LOCATION. WATCH THE SKIER'S FROM THE LIVING ROOM OR DECK. SECLUDED BACK DECK

Regards,

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

It seems sellers want to use every type of method to price their home except the market conditions. You might as well sit down and play spin the bottle.

The other players at the table are:

I owe this much. (Check out my new car and boat)

I want this much. ( I think you can sell a Yugo for $50,000 if you run an ad on the Superbowl)

I need this much. (Buyers care how much I need)

I don't really need to sell. ( I just want to waste your time and money)

My brother is an agent in another state and he said its worth .... (and he knows more about this market than you do)

The house across the street is priced at ......(it's been on the market for 2 years with no offers)

Pricing your home with any method other than market conditions and comparable sales will result in loosing the shirt off your back, your socks and possibly your shorts.

If you are looking to sell in Big Bear, pricing your property correctly is the single most important thing your agent can help you with.

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

Moonridge Area of Big Bear Lake Market Minute(s). This video talks about what has sold during the month of April 2008 in Moonridge. Look for another Moonridge Minute(s) in early June covering the month of May. If you want more information or would like to discuss the Big Bear Real Estate market, please give me a call.  

Regards,

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/

If you are shopping for a mountain home here in Big Bear, bring your checkbook. There are houses that sell in the first 2 weeks on the market, and then there are homes that reach the correct price and suddenly become the best deal. Either way, the ability to recognize these deals comes from inventory knowledge. Buyer's in this market will need an agent that is up to date on the ever changing Big Bear Real Estate inventory. If you are a seller in this market, get ready to play hard ball.

42220 Evergreen, Big Bear Lake,CA listed at $650,000 in escrow. On the market 11 days.

Price your house based on anything other than market conditions and you will fail. You will be one of the other 1100 overpriced listings. Buyers are ruthless and want the very best value. Once identified, these houses receive action.

317 Sites Way, Big Bear City, listed at $219,900 in escrow.

If you plan to come back next weekend and buy that deal you saw today, don't expect it to be here. We have finally got to the point that some sellers are getting it. They are pricing ahead of the turn and they are being rewarded. The competition is often back owned or short sale.

934 Myrtle, Big Bear City listed at $219,900 in escrow.

The last 4 buyers (in the past 30 days) that I have represented all together were only 3.08% off of list price with their purchase price.

They all got great deals.

If your criteria is to feel like a winner because you bought a house 20% below the list price, tell your agent you want to go look at the overpriced listings.

517 Mountain View, Big Bear City listed at $274,900 in escrow.

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