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sannesm

Big Bear Real Estate Blog: Sales and Price Trends

sannesm posted this 1 2,172 Views

April showers bring May flowers and so far this May, more showers. On this rainy day in May, let’s get caught up on what has been happening year to date in the Big Bear Real Estate market. (Aside - The big news in Big Bear right now is that Highway 330, a.k.a. the ‘front road’ to Big Bear, is set to re-open way ahead of schedule. They have been letting mid-week commuter traffic through, one way only and only at specified hours, for some time now. But the road is set to open for regular use f...

Big Bear Real Estate Blog: Lake Fills as Market Thaws

sannesm posted this 1,835 Views

The big news here in Big Bear, as we switch gears into Spring, is that the lake is literally as full as it can be.  In my 11 years here as a local, I have never seen it quite as full and, in fact, they have been letting water out in order to keep it from overflowing at the dam. As we approach the back side of April, the weather is hinting at the warmer months to come and the  Big Bear Real Estate market is thawing out nicely.  Although tax time always seems to slow down the market just a bit...

Big Bear Real Estate Blog: Cash is King in Big Bear

sannesm posted this 2 1,780 Views

Hello all! March, the month when winter finally turns to spring, is here at last. Although two recent storms have left lots of new snow on the ground, so there is still plenty of winter fun left to be had. Let’s take a look at how the Big Bear Real Estate market is holding up. Currently, we have 650 active residential listings on our MLS. I expect that this will be the low for the year and inventory will begin to steadily increase as we move towards summer. By late summer, I would not be ...

Big Bear Real Estate Blog: Demand and Pricing by Area

sannesm posted this 1 2,159 Views

Thanks for checking in with the Big Bear Real Estate market. Overall, January real estate sales in Big Bear for 2011 were quite comparable to what we saw in January of 2010. Although, this year there was a modest increase in residential closings, from 56 in January of last year to 61 residential closings this January. Of those that closed in the first month of this year, 35% were foreclosures, which is quite a big number when you take into consideration that only 5% of our active inventory i...

Big Bear Real Estate Blog – 2010 Year in Review

sannesm posted this 1,774 Views

As I am sure you have noticed 2010 has officially ended. Let’s take a look at the year in review in the Big Bear real estate market shall we? And see what the trends tell us about what to expect in 2011. Before we look at what occurred in 2010 let’s take a quick look at the vital signs of the market right now. There are 665 active residential listings here in Big Bear. There are currently 94 properties in escrow leading to a seven month supply of homes currently on the market. Inventory i...

Big Bear Real Estate Blog: Looking Ahead to 2011

sannesm posted this 2 2,121 Views

With 2010 rapidly winding down, the friendly over-under wager on whether or not we will see more residential closings this year than we did last is very much in question. Last year there were 892 sold and as of now there have been 841 for 2010. However there are 125 residential listings in escrow.  Will we see 53 more of these close prior to 12/31/2010? We shall see. More to the point with respect to the real estate market in Big Bear: the absorption rate of 18% (pending of 125/active of 697...

Big Bear Real Estate Blog: Demand is shifting in the Big Bear real estate market

sannesm posted this 2,096 Views

With the third quarter of 2010 now in the books let’s check in on the happenings in the Big Bear real estate market, shall we? There are currently 858 active residential listings in the Big Bear Valley (only six percent of those are bank-owned foreclosures.) There are 136 homes currently in escrow (30% of those are bank-owned), and of the 629 sold year-to-date, 37.6% were bank-owned. This points to the ever increasing competition for foreclosures in the Big Bear real estate market and I expe...

Big Bear Real Estate Blog: Interest rates keep getting better! And now there are 10% down options...

sannesm posted this 1,732 Views

Wow! Just when you think that rates could not get much lower….They do! The Freddie Mac Survey of Rates asks lenders nationwide what they are offering to well-qualified borrowers. They have been reporting these since 1971 and NEVER in this period have they been lower than they are right now. As reported by the LA Times, the average 30-year fixed-rate loan dipped to 4.19% last Friday, and 15-year fixed rates stood at 3.62%! You have to go back to 1951 to find a comparable rate, but back then m...

Big Bear Real Estate Blog: Incredible Interest Rates Drive the Market

sannesm posted this 1,498 Views

Hello All! Thanks for checking in regarding the state of affairs in the Big Bear real estate market. In my last blog I mentioned how unexpectedly slow the summer selling season had been through July. Well, it seems that the lure of rock bottom interest rates is finally kicking in as demand is on the rise so far in August. I had two clients finance a second home purchase, fixed for thirty years, at 4.375% last week, and that is truly astounding. In fact, a client of mine I was with over t...

Big Bear Real Estate Blog: First Half 2010 Review

sannesm posted this 2,060 Views

It is time once again to check in on the happenings of the Big Bear real estate market and see what has transpired in the first half of 2010. It is hard to believe that half of this year is already in the books and the trends in Big Bear real estate sales continue to surprise. I myself was amazed at how well the momentum that we were seeing towards the end 2009 carried into the first part of this year. The first three months of any given year in the Big Bear real estate market are typically ...