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The Homeowner Affordability and Stability Plan Is Just That, A Plan.

In Mesa, Arizona, Wednesday, the President presented the Homeowner Affordability and Stability plan, a multi-pronged effort to support the housing market. The story made the front page of nearly every newspaper in the country. The president's plan is sweeping: Incent mortgage servicers to work with at-risk homeowners before delinquency starts Let homeowners with good credit but little equity refinance to today's low rates Fund Fannie Mae and Freddie Mac to support mortgage markets It's a broad plan with many … [Read more...]

The Big Bear MLS – Is Your Property In It?

The vast majority of properties sold in Big Bear are sold by real estate agents who live, work, and breath in Big Bear. Yet, some sellers (read:banks) list their properties with out of area agents who don't have much experience selling property in Big Bear.  It is kind of like a knee doctor working on your elbow.  Can they do it?  Sure, but are they really the expert? What's worse is these real estate agents rarely put the listing in the local Big Bear MLS (Multiple Listing Service).  How are the local agents … [Read more...]

How Not To Reduce The Price Of Your Big Bear Home

Price reductions are commonplace in today's real estate market.  Many days, they actually outnumber the number of closed sales & new pending sales. Price reductions happen because the seller or real estate agent overestimated the market value of the property in the beginning and the buyers reject it.  Dropping the price is not necessarily a bad thing, it happens.  But, the key reason to drop the price is to spark some interest, generate some activity, and hopefully, an offer. Many times though the seller only … [Read more...]

Big Bear Neighborhood Overview – Castle Glen Estates

The Castle Glen neighborhood is one of the most sought after locations in all of Big Bear Lake. Generally referred to as a subarea of Fox Farm, Castle Glen is known as the area "up on the hill" above Stater Bros.  It also borders Hwy. 18 along the Baker Pond section of Big Bear Lake. History of Castle Glen Castle Glen, which consists of a total of 245 parcels, was first developed at the end of 1998 in the hilltop area previously referred to as 'Rebel Ridge.'  Lot prices in the first phase ranged from $39,900 up to … [Read more...]

Say It Ain’t So Zillow

I don't mean to bash Zillow but they make it so easy sometimes. Last time I checked, real estate prices in Big Bear are not going up. So you can imagine my surprise when I received an email last week from Zillow saying the Zestimate (read:value) for a rental property I own went up a staggering $20,000, or 11.4%, in the past 30 days.  Huh? Not a big deal, I am in the business and know what is really going on. But I also received a call from a seller client about his property Zestimate going up $30,000, 11.5%, in … [Read more...]

Giving Out My Real Estate Thanks

Even though the real estate market has seen much better days, I believe there is still plenty to be thankful for in the world of real estate. [viddler id=90c5a3a9&w=545&h=349] Have a great Thanksgiving everyone! … [Read more...]

Can I Keep The Buyer’s Deposit If They Cancel The Deal?

This question always seems to come up from a seller when the buyer decides to back out of a real estate transaction or purchase. The answer to the question, as with a lot of real estate related questions, is "it all depends."  Take a look below for my answer. [viddler id=ae8a8b4&w=437&h=368] Like the video above?  Check out some of my other video posts. Related Articles Let's Be Earnest When Talking About A Good Faith Deposit … [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...]

What’s More Important, Asking Price or Sales Incentives?

Every seller is looking for a way to get their home sold in this market.  With only 1 out of every 15-20 Big Bear homes selling every month, it is understandable to want to try every possible strategy. One question that comes up a lot is whether to offer sales incentives to help entice more showings and a buyer.  The most common types of these incentives include a buyer's agent bonus, raised selling commission, and the seller paying some closing costs for the buyer. While offering sales incentives can help a … [Read more...]

Who Pays The Buyer’s Agent In A Real Estate Transaction?

The real estate business is very complex.  There are a lot of documents to go over, countless time frames & legalities to maneuver around, and various issues & unique personalities to deal with in every real estate transaction.  While I work in this business every day, it is no wonder that buyers & sellers have a lot of questions about how our business works. One of the questions that comes up often is the title of this post, "Who pays the buyer's agent commission?" Check out the video below for my … [Read more...]