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Buying A Short Sale Could Make You Hate Your Agent

Click here if you cannot see embedded video. As with any real estate transaction, the sale is only as strong as the communication between all parties involved.  And with all of the moving parts involved with short sales - listing price, paperwork, following up with the bank, bank approval, tax implications, etc -problems are bound to come up.  Good communication = a good chance of the short sale going through. Also, it is important for buyers to have a clear understanding of what they can expect in a short sale … [Read more...]

Got Big Bear Real Estate Knowledge?

You had better hope that the real estate agent who is representing you in Big Bear does. I get on these kicks from time to time but I am starting to see a trend of more real estate agents from out of the Big Bear area, with little to no knowledge of the area, trying to list and sell properties in the Big Bear area.  Most of this is market driven, as deals are tougher to come by these days.  But, some of this is being driven by the fact that there is a lot more real estate data available online for consumers & … [Read more...]

Bank’s Incompetency = Buyer’s Gain

It is no wonder why so many banks are failing these days.  They just do not seem to comprehend what is going on in the current real estate market. Here is a perfect example. This property just came on the market for sale in the Moonridge area of Big Bear. Listing price is $399,900, 3 bed, office, family room, & 2.5 baths.  It needs roughly $15,000 to $25,000 in finishing details to complete it.  The property is now bank owned. A little history on this property. I had it for sale from April to August of … [Read more...]

Big Bear Bank Owned Buyers – Be Ready!

Bank owned properties in Big Bear are continuing to come on the market for sale at a steady pace. Don't expect that to change anytime soon.  In the month of September 2008, there were 41 properties that went back to the bank.  And there have already been 10 so far this month. While a few of these properties are already on the market for sale, the majority of them are still "in the listing process" with the banks and should be on the market in the coming weeks/months. What do the banks do between the time they … [Read more...]

Trying To Time The Real Estate Market

Whether it is with selling or buying, everyone would like to time the market.  A seller always wants to sell at the peak while a buyer always wants to buy at the bottom.  Who wouldn't?  But the reality is that timing the market happens more by luck than strategy.  By the time you know it is the bottom, or top for that matter, it will have already passed. Below is a quick video I did this morning talking about clients who want to time the market in the Big Bear purchase and what I believe they should … [Read more...]

What You Must Know Prior To Buying A Bank Owned Home In Big Bear

I sat down with Israel Barden, our REO & bank owned expert with Coldwell Banker here in Big Bear Lake, for a quick video discussion on the 3 most important things buyers in this market need to understand about buying a bank owned property. [youtube]http://www.youtube.com/watch?v=BWoSVKChFPo[/youtube] There are many factors to consider when buying a bank owned property.  If you are thinking about a bank owned purchase, be sure to talk with your real estate agent and lender first.  A bank owned purchase can be … [Read more...]