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If you are looking for a deal in Big Bear, focus on the homes that can be sold.
- In 2009, 80 short sale homes actually closed escrow.
- That is 9% of the 893 homes that closed in the Big Bear MLS.
- Currently there are 66 short sale listings that are in Pending, Active Contingent, or Contingent Status.
- That’s 39% of the total Pending, Active Contingent, or Contingent Status (170).
- Anyone want to guess what percentage of these will actually get accepted by the bank and close escrow?
- Don’t assume that a short sale home can be sold for the listed price, many are listed well below the true market value.
