Now that our long winter is over…it seems like forever…Big Bear is heading into what promises to be terrific summer.  The lake is full and the snow is nearly gone.  A common comment from sellers in Big Bear is:  ” I am going to wait until spring to list my home for sale.”  Well it is now spring and there are a lot of new additions to the market… and a few that are getting a fresh look with price reductions heading into Memorial Day weekend.

First, is this Eagle Mountain Estates home first listed at $700,000.  It is now offered at $649,900.  Custom build by John Stavish for the present owner it has all the amenities you will need to enjoy your time in Big Bear.  It has 4 bedrooms and 3 baths all in over 2800 sqft of living area.  The kitchen features hardwood floors, granite counter tops, alderwood cabinets, and stainless steel appliances.  The property backs to an open reserve area for maximum privacy to enjoy the hot tub.  For more information on this property click the photo to the left.  Complete with a two car attached garage, vaulted ceilings, large windows and fireplace in the living room, stereo system wired into the kitchen, dining area, living room and back deck. In the master suite you will find a beautiful gas fireplace, jet bathtub and glassed in shower. Enjoy the views from sunny front decks and the spa on the back deck.

Another LANDMARK property that has recently been reduced is this Fox Farm property.  This property has been reduced to $849,000.  This property was offered for sale at one time for over $2,000,000.  It last sold for 1.2 M in 2001.  More importantly what it offers cannot be duplicated.  3.5 acres of mostly level land in the middle of Big Bear Valley assures you both privacy and the convenience you wouldn’t expect.  A single story spacious home that is log style is only part of the package.  The property also includes a gazebo with hot tub, 1800 dqft + barn, a 3 stall horse barn with additional tack room, and a dog kennel.  This home has been the location of a variety of events.  The home includes 4 bedrooms, 3 baths, and more.  Click the link to the right for more photos and information.

Have a terrific Memorial Day weekend.  Call us at (909) 584-2202 if we can be of help to you this weekend!

Spring has arrived in Big Bear.  Most people are aware that Big Bear Lake is full as a result of the snow and rain from this past winter.  I mean it is really,really full. When the wind is blowing hard west to east the waves break over Stanfield cut-off.  When I drove by the dam last week the water was literally full to the top of the spillways.  The summer of 2011 is going to be an epic year for summertime fun, fishing, and boating.

The Big Bear market is cyclical and a lot of things change in springtime.  A good amount of sellers who were unsuccesfull in selling their property in 2010 took a break over the winter and try again in 2011 by putting their property back on the market.  Usually with a different broker and a lower asking price.  CLick on the thumbnail to the right for a larger version of the current market statistics.

Real estate activity has picked up as the snow has melted.  My team and I are negotiating 5 offers as of today.  In addition, we have placed 12 new property listings on the market for our clients in the last 30 days.  Call us when we can be of help to you!

Lack of confidence in real estate is outlined in this article you can access from Yahoo news.  The negative sentiment of “most people” IS THE reason why NOW is one of the best times to buy real estate anywhere including the Big Bear Valley.  Here is why. Real Estate values follow cycles; they go up and they go down.  Recessions follow expansions. When the majority of people are negative about real estate inventory increases… prices go down.  When the majority are buying there is an increase in demand prices go up.  It is economics 101. Simple supply and demand.

During the past 30 years of my adult life I have witnessed 3 real estate recessions.  The first was on the early 1980′s, the second in the early 1990′s, and this one that started at the end of 2005.  I have observed the same mistake in public sentiment each time.  When times were good the majority of people acted as if the good  times would never end and when times are bad, like they are now for most people, the acted as if things would never get better.

Change is the one constant thing we can all count on.  Things are changing right now. For example, there is a tremendous amount of money being made in real estate right now.  The people who are making that money are what we call “contrarians”.  The act contrary to public sentiment.  They buy when the masses sell and they sell when the masses buy.  It is a formula for success that has been repeated over and over throughout history.  They think long term instead of instant gratification.

Big Bear is experiencing what I consider to be the best investment opportunity in a long time.  Individuals and families who want to enjoy the mountain lifestyle get to buy at the bottom of a real estate cycle ( it goes up from here) making experiencing Big Bear more affordable than it has been for 10 or more years.  I urge my friends, clients, and salespeople to adopt a contrarian attitude and start enjoying life and the opportunities available right now!

Click on them thumbnail to the left to enlarge the current market conditions for the beginning of April 2011.  Nothing unexpected has happened so far in 2011.  I post the current conditions at the first of month to help you follow the trends as they happen.

Closed sales numbers are slightly higher than 2010.  That fact points to some stability in the market.  However, prices continue their slide downward.  Normally prices fall when supply exceeds demand.  That is not really the dominant factor right now.  The downward pressure on prices have to do with buyer expectations and fear.

There are 693 active residential properties for sale today which is healthy for the Big Bear Market.  We have had as many as 1,450 residential properties both in 1986 and in 2004.  The low by comparison is February of 2004 and 2005 when there were only 293 residential properties in all of Big Bear offered for sale.

The comments we hear from today’s buyers are that it is difficult to find a good property offered for sale.  Many are neglected or are being sold as distressed properties in “as is” condition.  But that is only part of the story, here is the most important thing we are seeing…

Buyer’s who find a property they like AND that is priced appropriately are still making low offers.  When we or the sellers provide information to establish value with sold comparables the buyer’s remain unwilling to raise their offers to full market value arguing prices are still going down so the only way they can avoid overpaying is to discount the price 5,10, or 15%.

In essence, buyer’s are creating the value declines they are afraid of.  Consumer confidence or the lack of it in real estate is the biggest challenge we face today.

I look forward to your questions or comments.  Spring is here… talk to you soon!

The Real Estate Market in Big Bear remains stable even though there is uncertainty in news reports.  Click on the photo to the left to enlarge the market statistics.

Last week a report stated property values in the largest markets could continue to fall as much as 25% and the next day a report was published showing that the market rebounded and stabilized in the 4th quarter of 2011.  It is hard to know what to believe.  However, here in Big Bear prices are still at their lowest point in over 7 years and demand seems strong enough right now to halt further price declines.

Recent heavy snow falls have given life to the ski resorts and renewed economic activity for local business owners in town.  Moderate snow fall over the entire winter made it possible for buyers of Big Bear property to look at homes with relative ease.

If you have any questions or comments feel free to contact me at (909) 584-2202.  In addition, you may find more information at a new website we have.  Check it out…. www.realtyexecutives.com/markdolan