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!

The Big Bear Market Statistics confirm that Big Bear is still affected by the foreclosure and distressed property problem that you hear about from various news outlets.  Today’s headlines state: “Real Estate Double Dip Confirmed.”  The brief upswing in the market has stopped and pricing and sales numbers are again at the lowest point since the peak 5 years ago.  For a printable version of the market statistics click on the picture to the right!

Big Bear has a typical sales season each year with the lowest monthly sales closed in March, April, and May before rising activity kicks in around the first of June. Sales dropped to 51 units in May which in not a good sign.  The conflict I see in my real estate business right now is that some seller’s think the market is going to improve soon and the buyer’s think prices will go lower.  My experience over the past 27 years and all the signs I see as a professional real estate agent lead me to believe that the buyer’s are right on this one.  Call my office at (909) 584-2202 if you or someone you know needs excellent real estate service and help.

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!

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!