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Is the Big Bear Real Estate Market Cooling Off?

It appears that the real estate market in Big Bear is cooling off quite a bit.  2014 was the slowest year for unit sales over the last 10 years.  Take a look at the chart & notes below for some more interesting findings. Here's what I noticed - 1.  Residential unit sales were down 27% in 2014 compared to 2013.  I am not sure if this has something to do with the rising prices, about 10% higher year over year, or more of just a general slow down in the market.   Seems to me it could be a little of both. … [Read more...]

Big Bear Real Estate News

In our digital economy, international, national and local economies affect our marketplace. As we keep our eye on China, the Euro, the unemployment rate and other leading indicators, the news seems to show an upswing in several economic factors. On the international scene, China’s lifting of some controls is the strongest sign that the government intends to change; according to the New York Times. Some have called the restructuring a symbolic move. But, since it signals a broader acceptance of western banking … [Read more...]

Big Bear Real Estate and Mortgage Rates

Looking to purchase a home in Big Bear, CA? Obtaining the best mortgage rates can be daunting, especially since the lender requirements have changed over the past few years. There are fewer lenders and higher standards, due to the mortgage industry crisis. Your credit score has the most influence, but lenders also take into consideration your debt to income ratio, equity, job history and assets and savings. We distilled the qualifications for you: FICO Score Your credit score is the most influential part of … [Read more...]

Sales Up & Inventory Down for Big Bear Real Estate Market

That's the current Big Bear real estate in a nutshell. Here's a good chart for the Sugarloaf area that parallels the other Big Bear neighborhoods.  If this holds steady, get ready to see prices slowly increase. If you're interested in more markets stats, be sure to check the Big Bear Communities pages on our website.  Each area is updated monthly with pretty charts like these :-) … [Read more...]

Interest Rates May Have Bottomed Out

The Big Bear real estate market has been picking up steam lately thanks to the correction in home prices and historic low interest rates. And while many potential home buyers have been waiting on the sidelines for an indication that the market has bottomed out, the recent up-tick in interest rates may be signaling that the time to buy a Big Bear home or investment property is NOW. The most recent “Primary Mortgage Market Survey” by Freddie Mac reports that fixed mortgage rates moved higher following stronger … [Read more...]

Big Bear Sellers, Time is Not on Your Side.

Click here for video link. Back in the "crazy" Big Bear real estate years of 2000 thru 2007, the longer a home was on the market, the more a seller could get for it.  The prices were going up every month, and sellers were getting lucky.  Over the past 5 years however, this process has flip flopped.  Generally, the longer a home sits on the market, the lower the price it will fetch.  Seems pretty simple.  Yet, sellers continue to tell me they want to sell, but they are not in a hurry.   Therein lies the … [Read more...]

Market Conditions – New Home Down Payments

With the housing bubble burst, the real estate market has returned to a “back to basics” mentality. The days of creative financing and piggyback loans are over. The credit bar has been raised and there are more obstacles to overcome in making a purchase. Cash is still king. The trick is to balance the amount of your down payment with a reasonable monthly mortgage payment. Depending on the size of the down payment, you can generally expect to pay between .75% and 1.15% of the purchase price for your monthly … [Read more...]

Renting Out Your Big Bear Home

If you own a second home in Big Bear, you’ve probably considered jumping into the rental market. The Big Bear vacation rental market is one of the most active and lucrative markets in California. The City of Big Bear Lake currently has over 1,100 registered vacation rentals on the books and they estimate another 300 to 500 properties are operating “under the radar”. If you take into account the hundreds of vacation rental properties located outside of the city limits, the total number of rentals in the Big Bear … [Read more...]

Is The Big Bear Real Estate Market Shifting?

That is anybody's guess but there is some encourgaing news coming out for the real estate market in Big Bear. The number of homes under contract has nearly doubled while available inventory is down about 25%. Most people are concerned with the number of closed sales every month and what direction prices are heading, but the basics of supply and demand always come first.  Based on the most recent numbers, there are some reasons to be optimistic about the Big Bear real estate market. Pending Home Sales … [Read more...]

Big Bear Vacation Homes – Poised for a Comeback

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 … [Read more...]