Big Bear Skinny Blog

Big Bear Real Estate – Spring Maintenance Inspection Checklist

By BigBear on April 13th, 2012
Categories: Big Bear Sellers, Local
Tags: Big Bear City, Big Bear Lake, big bear real estate, home inspections, market value

Big Bear winters may not be as harsh as other parts of the country but they can take their toll on your mountain home. Here are a few tips for getting your Big Bear property back in shape after the snow has melted away.

Exterior Maintenance Inspection

Grab a ladder and thoroughly inspect your roof for missing shingles and flashing. Pay special attention around chimneys and vents. Minor roof damage can quickly turn into major problems if left un-checked.

Inspect gutters and downspouts to see that they haven’t pulled loose and that they aren’t clogged. Make sure downspouts are extended away from the foundation.

Walk around the foundation and make sure the dirt slopes away from the home. Melting snow and rain can undermine the foundation and lead to moisture damage and mold. Check foundation vents and look for any animal nests under the home.

If you have a deck or porch, check for rotting materials or mold. Make sure all nuts and bolts are tightened. If the deck still shakes or sways, extra bracing should be added. Decks and porches should be cleaned and sealed every two to three years.

Open and close all windows and screens to make sure they’re working properly. This is a good excuse to go ahead and clean the windows and screens. Check for air and water leaks.

Interior Maintenance Inspection

Walk room to room and check the ceilings and walls for any water stains or paint bubbles that may tip off roof damage or a plumbing problem.

If the attic is accessible grab a flashlight and look for any water damage or animal nests.

Look under the sinks and wherever plumbing is visible to check for leaks. Calcium build-up is a good indication of water leakage.

Spring is a good time to service hot water heaters and all heating, ventilation and air conditioning units. All systems should be professionally inspected and serviced twice a year, and a hot water heater should be serviced at least once a year.

Run all of the appliances and replace/clean filters as needed

Spring inspections are particularly important if your Big Bear property is a rental or second home. You may only have a few times each year to inspect your property and protect against small problems becoming big ones. Most local contractors and tradesmen offer free inspections.

More Home Inspection Information;

Home Inspections Save Buyers Money – Why are buyers’ home inspections important? What is the cost of home inspections? Use our house inspection checklist and get tips on choosing an inspector.
Electrical Safety | Southern California Home Inspections – Electrical Safety Electricity is an essential part of our lives. However, it has the potential to cause great harm. Electrical systems will function almost.
New FHA Inspection Requirements | Southern California Home … – Attention FHA buyers. It seems there are new changes to FHA Inspection Requirements, meaning if you are a buyer who is using an FHA loan for financing,

Big Bear Vacation Homes – Poised for a Comeback

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By BigBear on April 11th, 2012
Categories: Big Bear Buyers, Big Bear Market Conditions
Tags: Big Bear City, Big Bear Lake, big bear real estate, real estate market, second home owners, vacation homes

Big Bear second home sales have always driven our local real estate market. With over 25 million people living within a 2 hour drive, Big Bear is a natural choice for families looking for a vacation home or investment property. Thanks to affordable prices and unlimited recreational opportunities, the local vacation rental market is one of the hottest in California.

The trend for second home purchases seems to be increasing across the country. The National Association of Realtors recently published the 2012 Investment and Vacation Home Buyers Survey, which showed a surge in sales of investment properties and vacation homes in 2011. As opposed to investment purchases, which are made out of the desire for rental income, vacation homes are driven by lifestyle factors and are purchased by households making an average of $88,000 a year. According to the National Association of Realtors, investment property sales account for over one third of all purchases. Forty-nine percent of those investors paid all cash in 2011.

My recent experience with a cash buyer looking for a Big Bear investment property is typical of what’s happening in the market. They made offers on two properties but were out-bid each time. They learned their lesson and when their agent (Coldwell Banker, of course) found them of another good buy in the area they liked they offered full price. It proves that well-priced properties are selling in Big Bear.

If you’ve been on the fence waiting for the market to bottom out, wait no further. The professionals at The Tim Wood Group have been helping their clients find the perfect investment and vacation properties for over 25 years. Give them a call today.

NAR Chief Economist Lawrence Yun said investors with cash took advantage of market conditions in 2011. “During the past year investors have been swooping into the market to take advantage of bargain home prices,” he said. “Rising rental income easily beat cash sitting in banks as an added inducement. In addition, 41 percent of investment buyers purchased more than one property.”

Yun said the shift in investment buyer patterns in 2011 shows the market, for the large part, is able to absorb foreclosures hitting the market.

Increased investor purchases are partly responsible for the large percentage of all-cash purchases seen in the last year. They make up around one-third of all purchases. Forty-nine percent of investors paid cash in 2011.

“Clearly we’re looking at investors with financial resources who see real estate as a good investment and who aren’t hesitant to use cash,” Yun said. Of the buyers who didn’t use all cash they paid a hefty average 27 percent downpayment.

As opposed to investment purchases, which were made out of the desire for rental income, vacation homes were driven by lifestyle factors and were purchased by households making an average of $88,000 a year.

What portion of the market are these vacation sales? They accounted for 11 percent of all sales in the market.

Overall mortgage applications increased 4.8 percent from last week, according to the Mortgage Bankers Association (MBA). The refinance share of the market decreased again to 71.2 percent. Just a few months back it was over 80 percent.

“Applications to buy a home picked up last week, and are running more than two percent above the level reported at this time last year. Home purchase applications for conventional loans are now about 10 percent above last year’s level,” said Michael Fratantoni, MBA’s Vice President of Research and Economics. “Applications for government loans increased by more than 10 percent over the week, for both purchase and refinance, likely spurred by borrowers seeking to apply before scheduled increases in FHA mortgage insurance premiums at the beginning of April.”

More Real Estate and Second Home Owners;

Main Considerations When Acquiring Vacation Homes – Many people have imagined of having their personal vacation homes. A vacation home is another property where one can take abode whenever you wish and be pleased. However, a lot of consideration should be taken into …
Vacation Home Market Heating Up – The National Association of REALTORS (NAR) recently released a report on investment and vacation homes, with the headline “Investment and Vacation Home Sales Surge in 2011”. This week I wanted to share with you …
Tax Benefits for Second Homes and Vacation Homes – If you own a second home, then you want to be aware of some tax advantages that could save you money.

Big Bear Lake is Open!

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By BigBear on April 8th, 2012
Categories: Big Bear Recreation
Tags: Big Bear Lake, Fishing, vacation homes

The first of April marks the beginning of our season out on the lake. The East Ramp on the North Shore is open to the public for boat launching, picnicking, and fishing from the shore. The hours for East Ramp are from 6:00 AM to 6:00 PM, daily. They are extended to 7:00 PM on May 10. The local marinas are also open for boat rentals and great fishing advice.

All boats on the lake must have a permit and state registration. You can obtain permits at the boat ramps and most of the marinas. Motorized boats pay $25 for a one day permit and kayaks and canoes are charged a fee of $15. Maximum boat size is 26 feet.

If your purpose is fishing, check out our blog post (Tyler, this will be linked) for Big Bear Lake’s best spots. You can fish for rainbow trout, largemounth and smallmouth bass, carp and catfish.

Fishing is best when the lake temperatures are cold and locals are reporting an unusually busy season. Normally in the Spring, fish begin biting at the east end of the lake. This year catches have been reported from Stanfield Cutoff to the Dam. For bait, crawlers always work well while some fishermen use their favorite color of dough bait.

Whether you come to the resort to snowboard or fish, expect beautiful weather this weekend. The skies will be sunny and temperatures will linger above the mid 60’s.

After a beautiful winter with mostly moderate temperatures, we’re busy planning this Summer’s outdoor adventures.

Buying a Vacation Home;

6 Ways to Prepare Your Credit for a Mortgage Application | Hall … – First-time Homebuyer · Moving & Buying Home · Buying a Vacation Home · FHA Loan · Government Loans · Blog · About Us · David Hall · Hall Financial Partners · State Licensing · Contact Us · Careers. You are here: Home …
Vacation homes reemerge as hot investment properties … – For many with a clue about the economy, buying a vacation home is a done deal. Aware the economy is emerging, especially in real estate, buyers pushed sales of vacation homes to a four-year high in 2011, the study reveals …
Vacation Homes – Taking Advantage Of Home Prices – You may even want to consider buying a vacation home in another state, province or country where housing prices are extremely low such as Florida, California and Arizona. In Canada there are pockets where you can invest …

Big Bear Real Estate Tour – East Big Bear City

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By BigBear on April 4th, 2012
Categories: Big Bear Buyers, Big Bear Neighborhoods
Tags: baldwin lake, big bear, Big Bear City, erwin lake, lake williams, real estate, real estate neighborhoods, vacation homes

East Big Bear City is comprised of Baldwin Lake, Erwin Lake and Lake Williams. The area varies from pinion and cedar forests to high desert. It’s a great area for hiking, mountain biking, horses and ranching.

All of Big Bear City is in the unincorporated area of San Bernardino County. According to the Chamber of Commerce, a “DBA” (Doing Business As) from your bank is all that is required to work out of your home. High speed computer access and cable television is available in most of this area.

We enjoy the area’s access to hiking and mountain biking trails. The Pacific Crest Trail comes into the Valley from Onyx Summit and heads north behind Lake Williams through Baldwin Lake. The area is protected from weather and residents usually experience milder winters.

Baldwin Lake was the original Big Bear Lake. It is a seasonal lake surrounded by Big Bear City East, Shay Meadow and Ponderosa Ranch Estates. The easiest off-road area is 2N02 off of Vale Road. This forest road will take you over Arrastre Creek where you can turn north and link up with Highway 18 through Cactus Flats.

Erwin Lake is home to one of the Valley’s historical figures, Jim Erwin, and his original cabin can still be seen. This pastoral area has a beautiful view of wide open spaces and the valley’s mountains. The Erwin Lake area of Big Bear consists of; Hamilton Ranch, Meadowbrook Estates, Wildhorse Estates, State Lane North and State Lane South.

Erwin Lake has a playground at State Lane South and an extensive Sports Ranch off of Highway 38. The Sports Ranch offers team camping facilities along with tennis, soccer, golf, wall climbing, and swimming. They also offer a variety of programs for the public.

Lake Williams is the western most part of Big Bear City. It’s quiet, with views of Onyx Summit. It has a small seasonal lake and is surrounded by a scrub pinion forest. Trails from here head down to the Burns Canyon area and Arrastre Creek.

All areas of east Big Bear City are within 15 to 20 minutes of the ski resorts, the lake and shopping!

Vacation Home Real Estate News;

Vacation homes reemerge as hot investment properties … – For many with a clue about the economy, buying a vacation home is a done deal. Aware the economy is emerging, especially in real estate, buyers pushed sales of vacation homes to a four-year high in 2011, the study reveals …
Vacation Homes – Taking Advantage Of Home Prices – You may even want to consider buying a vacation home in another state, province or country where housing prices are extremely low such as Florida, California and Arizona. In Canada there are pockets where you can invest …
How To Make Money – Buying A Vacation/Rental Home – You may even want to consider buying a vacation home in another state where housing prices are extremely low such as Florida, California and Arizona.