Big Bear Lake, CA

1265 BALSAM DRIVE

ML#: 273226 PRICE: $599,900 AREA: MOON/ GMO VRMPRI: N PROP: TYPE: Residential BED: 3 STATUS: Active BATH: 4.000 YEAR BLT: 1972 #ROOMS: 9 STORIES: Three Story DINE: Formal Dining FURNISH: Negotiable GARAGE: Four Plus Garage ,Detached Garage INV ON FILE: N APRX SF: 2,674 Sqft Fm Owner WASH/DRY: Y BOAT FAC: CATEGORY: Resale FIREPLACE: Two FP ,Brick FP ,FP In Liv Room POOL/SPA: Spa/Hottub ,Jet Bathtub VIEW: Lakeview ,Mountain View ,Neighbors & Trees View TOPO: Downslope ,Street to Street FRONTAGE: Fronts Street BUILDINGS: Gazebo XSTREET: CLUBVIEW ZIP: 92315

INSIDE: Phone Jacks ,Log Lighter OUTSIDE: Deck ,Patio ,Partial Sprinklers ,Partial Landscape OTH ROOMS: Loft ,Family Room ,Attached Guest Quarter APPLIANCES: Gas Oven ,Gas Range/Cooktop ,Microwave ,Dishwasher ,Garbage Disposal ,Refrigerator WTR/SEWER: Water Meter In ,Water Supplied By Dwp ,Sewer Connected UTILITIES: City BBL ,Bear Valley Electric ,Natural Gas Connected Cable Hookup Avail APN: 310 - 281 - 24 LOT: 40 BLK: TR: 2042 LOT DIM: 65 x 141 ZONING: Single Family LOT SF: 9,165 ACRES: ROAD: Paved & Maintained PARKING: Parking Pad DRIVEWAYS: Concrete Driveway

WONDERFUL LAKE VIEWS FROM THIS WELL KEPT CHALET. STREET TO STREET LOT NEAR SKI SLOPES, NATIONAL FOREST & GOLF COURSE, 4 CAR GARAGE WITH GUEST/BONUS ROOM ADDITIONAL 3/4 BATH IN GARAGE.FORMAL DINNING,3 BEDROOMS,JACUZZI TUB, LOFT, HUGE FAMILY ROOM WITH IT'S OWN 3/4 BATH. LOCATED ON ONE OF THE MOST DESIRED STREETS IN MOONRIDGE.WOULD MAKE A GREAT RENTAL OR LARGE GROUP GETAWAY.

Steve Hirschler

Associate, The Tim Wood Group

Coldwell Banker Mountain Gallery

42153 Big Bear Blvd.

P.O. BOX 6820

Big Bear Lake, CA 92315

steve@bigbeargallery.com

909 866-3481 EXT. 217 CELL 909 725-5889

Fax 909 866-3531

http://www.stevesellsbigbear.com/

Below is a list of the 15 homes that sold in the Castle Glen neighborhood as per the Big Bear MLS. The number of sales were down as compared to 2006 but it was still good sales activity. Things have already started off for the better this year in the Castle Glen area as we have had one sale at $1,900,000, one in escrow that was listed for $2,200,000, and several motivated buyers looking in the area.

I am an expert in the Castle Glen real estate market so feel free to contact me with any questions.

There were a total of 20 lakefront sales in the Big Bear area according the to the Big Bear MLS. While the sales numbers are down from the previous years, lakefronts properties are still selling. Give me a call or drop me a line if you have any questions on these or other properties in the Big Bear Lake area.

This is one of the most asked questions I hear from clients when determining the best time to buy a property in the Big Bear area. Trying to time the market, especially in today's real estate market, seems to be an inherent characteristic of most buyers.

I recommend looking now to get a feel for the current market options that are available. Be particular for the right deal. Look for the options that might have some built-in equity already in the price (there are some of these out there). If you do not find the right property now, then I would keep eye out and wait another 6 months. The overall real estate forecast does not look great over that time frame. Most of the buyers I talk with now are continuing to wait to see what happens.

One thing to ask yourself is how long do you plan to own the property? If you plan on holding onto the property for 10 years or more, waiting 6-8 months might not matter that much in the grand scheme of things. You most likely won't recall exactly how much you paid for it 10 years from now. Based on the past 30 years, the appreciation rate for properties in Big Bear has averaged approximately 4% per year. Conversely, if you only plan on holding onto the property for a few years, then waiting 6-12 months to see how things turn out might be the best option.

As with all real estate markets, you need to look at each one closely. All real estate values are local. What is happening in San Diego or Las Vegas really has no bearing on the values of the properties in Big Bear. While Lake Arrowhead, Crestline, Running Springs, and Big Bear may all be classified as "resort" communities, it would be a mistake to generalize that all the real estate markets in these areas are responding the same way to the current market conditions.

All that said, the first four months of the year are the slowest time for sales in the Big Bear Lake area. The inventory is typically at it lowest during these months as well (about 1050 residential right now as compared to 1500 during the summer months). This can be good time to buy as there is less competition form other buyers. Waiting until the summer/fall should provide buyers with more options to look at plus some better prices, but they will be competing with some other buyers looking for the same things.

Either way, I think there are some good deals to be had in the current real estate market in Big Bear. I would get a good feel now for what is out there and then make the decision as to wait or not to buy.

If you are thinking of selling your Big Bear home, you may want to take a look at the absorption rate of homes that are currently for sale. This is a great way to become more informed on the local real estate market, whether your are buying or selling.

There is an easy to understand article here describing what the absorption rate is and what it means for the real estate market. In simplistic terms, it is the amount of time it will take for the a specified set amount of properties to be absorbed under current real estate market conditions.

To get the most accurate reading for the Big Bear real estate market, you take the number of properties sold in the past month (more accurate than yearly) and divide that into the number of properties currently on the market for sale. Some other ways to figure out absorption rate include looking at a weekly and yearly basis. You can also tinker around with this by looking at different price ranges, locations, beds & baths, features and so on. The more you tinker, the more accurate your calculations should be for that type of property.

In Big Bear, there were 46 total residential sales in the month December 2007. Currently, there are 1139 residential homes for sale, which translates into an absorption rate of 24.76 months. Keep in mind that this assumes that no other properties will be coming on the market for sale in.

As it relates to the different price ranges and neighborhoods/areas in the Big Bear real estate market, take a look the the numbers below. The homes priced under $300,000 as well as between $500,001 to $800,000 sold the best while those over $800,000 did not. From a location standpoint, homes in Fox Farm, Whispering Forest, and Sugarloaf all sold better than Baldwin Lake, Erwin Lake, Lake Williams, and parts of Big Bear Lake Central.

Looking at the absorption rate is a good tool to use if you are thinking of buying or selling a home in the Big Bear area. However, pricing a home in Big Bear is not something that an online site such as Zillow or a mathematical equation can always answer correctly. Nothing beats the knowledge and experience that a local Big Bear real estate professional can give you.

Make sure your home is the best priced property among the competitors. Cleanliness and good curb appeal will impress buyers and agents. Don't make it hard or difficult to show your home. Keeping these simple things in mind will help make sure that your home is absorbed more quickly than the others, and certainy before 2010!