sannesm

Big Bear Real Estate Blog: Demand and Pricing by Area

sannesm posted this 1 2,018 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 1,647 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 1,989 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 1,955 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 1,596 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 1,363 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 1,933 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 ...

Big Bear Real Estate Blog: Are Short Sales Closing in Big Bear?

sannesm posted this 2,904 Views

Let us get caught up on the happenings in the Big Bear real estate market as we roll into the summer ‘selling’ season. Here in Big Bear it seems we have altogether skipped spring and gone straight into summer. On Sunday a couple weeks ago it snowed most of the day and now it is mid-eighty degrees and beautiful. At last! Looking at the Latest Market Statistics When looking at the latest numbers a couple of trends are apparent: On the supply side the inventory is growing rapi...

Big Bear Real Estate Blog: Will the market keep rolling into summer?

sannesm posted this 2,172 Views

Big Bear Real Estate: Will the market keep rolling into summer? The first quarter of 2010 is already in the books. Now that tax time is behind us, T.S. Eliot was right, April is indeed the cruelest month; will the Big Bear Real estate market keep on rolling into the summer? Let’s get into the trenches and review the state of the Big Bear real estate market to see what the first quarter numbers indicate: On the supply side, inventory remains tight as there are currently 636 active...

Big Bear Real Estate Blog - Has the real estate market in Big Bear slowed down?

sannesm posted this 2,029 Views

Big Bear Real Estate Blog: Has the real estate market in Big Bear slowed down? Although spring will officially arrive later this month it still feels very much like winter here in Big Bear. We have had a tremendous amount of snow this season and the inclement weather has indeed had an effect on the ability of many would-be buyers to get up the mountain in order to take a look at real estate here in Big Bear. But has this slowed down the Big Bear real estate market? Let’s take a look...

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