Big Bear is off to a great start in 2012. Skiers are flocking to the Big Bear Mtn. Resorts claiming Big Bear has better skiing conditions than the Mammoth Lakes area. The New Years Holiday has just finished and private home vacation rental companies and local business received a great shot in the arm to start the year.
Real Estate in Big Bear ended on a high note with 103 closed residential sales in December. That was the highest closing month in 2011. With properties in escrow dropping by 1/3 in the past 45 days We should see closed unit numbers in the 60 unit range in January 2012. Available inventory will remain in the low 600 unit range until the spring when inventory that was removed from the market for the winter months or those on vacation rental programs are re-listed for the summer selling season.
Where is the Big Bear Real Estate Market going? That depends on who you talk to. Most current homeowners tell me they expect the market to get better….some of them admit it really is more of a hope than an expectation. Buyer’s generally feel prices are at their lowest are are approaching the bottom of the market. Personally, I don’t think there will be much of a change over the next 12 months than we experienced in 2011.
1. Seller’s who sold and closed escrow were highly motivated. 2. Buyer’s negotiated from a position of strength and felt like they got a bargain. 3. Transactions involving Bank financing or Bank sellers were almost universally difficult to close, delayed past contract dates, and uncertain to close due to lenders adding additional requirements up until the last days of closing.
This is the market we are in. Please feel free to call with any questions or help with your real estate needs in Big Bear!
