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Foreclosures and Short Sales

Whether you're attempting to sell Big Bear real estate or you're searching local real estate listings as a potential buyer, it's important to know the difference between a foreclosure and a short sale. Foreclosure is generally a worse outcome than a short sale, if you are the seller, but as a buyer of a distressed property, a short sale is often the more difficult process to negotiate through. Foreclosure for Owner A property that has been foreclosed on means that the owner did make the monthly mortgage payments … [Read more...]

Maintaining Your Big Bear Fireplace

You can feel it in the air. The fall season is upon us and soon temperatures will be dropping. One of the great things about the colder seasons in Big Bear is enjoying a roaring fire in your cabin or home. Here are a few tips for keeping your wood burning fireplace safe and working properly through the fall and winter months. The best thing you can do to maintain your wood burning fireplace is have it regularly checked and cleaned by a professional. A fireplace should be inspected at least once a year to avoid … [Read more...]

Homeowners Insurance

Buying a home is likely the biggest purchase you'll ever make. It's important to protect this investment. This is where homeowners insurance comes in. Homeowners insurance provides you with broad coverage for losses that can arise while owning or renting out your home – like damage to your personal property, theft and vandalism, and liability coverage for accidental injury to another person or property. Accidents do happen and you want to be sure you're protected if someone is injured on your property. In the … [Read more...]

Maximizing Your Real Estate Agent

CNN Money: “When you go to an open house and meet a real estate agent showing the property, that agent represents the seller's interests. So you might be better off using a buyer's agent whose job is to represent your interests.” Purchasing real estate in Big Bear is an important financial decision.  Home buyers will confront complex issues and lots of paperwork. Finding a buyer’s agent with expertise and local knowledge is invaluable. Market knowledge is one of the most important assets a buyer’s agent brings … [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 Real Estate – Tips For a Smooth Move

Congratulations on selling your Big Bear home! It’s time to concentrate on the "fun" part of selling a home - packing up all those clothes, toys, and pots and pans. Here are a few tips for a smooth move. Start the packing process as early as possible. The earlier you begin packing the more organized and stress-free you’ll be. Go room by room and make notes on what’s going with you (and staying behind). Stock up on packing supplies, including: boxes, bubble wrap, newspapers, labels, markers, packing foam, packing … [Read more...]

Types of Home Loans

The dictionary defines mortgage, as “a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms”. There are many features to consider when securing a home loan. You’ll want to consider the size of the mortgage, method of repayment, interest rate and maturity of the loan. Fixed Rate Mortgage 75% of all mortgages are fixed rate, it’s the mainstay of the home loan industry. They’re popular because they’re predictable. Borrowers … [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...]

Title Insurance

Title insurance provides coverage for certain losses in the title that may have occurred prior to your ownership. It protects against claims resulting from various defects such as prior fraud or forgery that might go undetected until after closing, including liens, encumbrances, and defects that were unknown when the title policy was issued and may possibly hurt your ownership or investment. What protection am I receiving with a title policy? A title insurance policy contains provisions for the payment of 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...]