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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...]

Local Real Estate – Fixer-uppers

Wikipedia defines a fixer-upper as a “real estate property that will require maintenance or work, though it can be usually lived in as is.” If you’re in love with old homes, the idea can be irresistible. Advantages: Purchase a home in a good neighborhood at a lower price Increase the net worth of your investment Here are our suggestions: 1. Do the math first. Add up the expected expenses of renovation, accurately reflecting the cost of materials and labor. Then subtract the expected value. Experts from the … [Read more...]

Choosing the Best Big Bear Neighborhood

Once you've been pre-qualified for a loan, you should be ready to put your house-hunting efforts into high gear. The next important step in the home buying process is scouting out the Big Bear neighborhoods and getting familiar with each area. The best way to get started in your neighborhood search is to get in your car and explore, especially if you're unfamiliar with Big Bear. Ask your agent for a map and just start driving around. Get an idea about the neighborhoods by seeing first hand which areas appeal to … [Read more...]

Neighborhood Spotlight – Big Bear City

Although it’s often confused with the City of Big Bear Lake, Big Bear City is the unincorporated township located to the east of Big Bear Lake, in the center of the Big Bear Valley. The Stanfield Marsh Bird Sanctuary borders to the west, Baldwin Lake borders the eastern edge, and the San Bernardino National Forest cradles Big Bear City to the north and south. Sub-areas include Baldwin Lake, Erwin Lake, Lake Williams, and Whispering Forest According to the 2010 census, Big Bear City’s population has more than … [Read more...]

The Escrow Process – Part 1

Congratulations! You’ve negotiated an agreed upon sales price on a perfect piece of Big Bear real estate. So now what happens? It’s time to open escrow. Very simply defined, an escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a particular condition or event. In California, escrow companies are regulated by the Department of Corporations or the Department of Real Estate and must undergo constant scrutiny. They are required to hold funds in … [Read more...]

Big Bear Real Estate – The Skinny on Home Inspections

Every Big Bear real estate purchase agreement should include a provision for a home inspection. The following list covers the basic elements that a home inspector will check. You can also use this list to help you evaluate properties you’re considering for purchase. Structure: A home’s structure impacts how the property stands up to weather, gravity, and the earth. Structural components, including the foundation and the framing, should be inspected. Exterior: Big Bear weather and sunlight can be tough on homes. The … [Read more...]

Big Bear Real Estate Neighborhoods

Spotlight on Boulder Bay Big Bear real estate is comprised of many unique neighborhoods and Boulder Bay is one of the most iconic places in the Big Bear Valley. Towering pine trees, massive rock formations, and tranquil lake views are the dominant features of this classic neighborhood. The rock formations that seem to float in the waters off Boulder Bay are some of the most photographed images in Big Bear. Boulder Bay is located on the south-west shore of Big Bear Lake and is one of the first neighborhoods you … [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...]

Sellers Respond Better to a Written Offer.

[youtube]http://www.youtube.com/watch?v=9plp0akOuYI[/youtube]   Direct link to YouTube video. Sellers respond better to actions than words. Recently I have had lots of calls on my listings from agents representing buyers interested in knowing if we get any offers. I have even had my own buyers tell me to let them know if we get an offer on a home that they are interested in. I want to remind everyone of a rule that applies to many things in life, ACTIONS SPEAK LOUDER THAN WORDS. Real Estate is a contract … [Read more...]

Patty’s Picks of the Week

Here are my top picks of the week! Simply click on the highlighted link to see the details on the "best in show" properties! Under $100K: 341 Grenfall: This home offers 3 bedrooms, 2 baths,  1200 sq. feet of living space, and on a 7200 square foot lot. It does need a little TLC, a bargain for under $100K! $100K-$200K: 1036 Sylvan Glen: Backing to the National Forest in Moonridge, this charming cabin has 2 bedrooms, 2 baths, and a fantastic back drop! This is a Fannie Mae Homepath property with incentives! You … [Read more...]