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Steve Hirschler, Big Bear Real Estate

Big Bear Real Estate Fast Facts 10/25/2009

  • Current Residential Inventory Available 766
  • Last years inventory 10/2008 - 1078
  • Inventory is down 29% from last year

  • Residential Sales closed in the past 30 days - 78
  • Homes sold October 2008 - 73
  • Number of year to date closed residential sales - 681
  • Number of year to date closed residential sales 561 for the same period in 2008 +21.3%

  • Current Pending sales 154
  • 39 of these are Bank owned 25%
  • That means 75% are not bank owned!

  • Bank Owned Homes 46 make up only 6% of the inventory available in Big Bear
  • That means 94% of the homes available in Big Bear are not Bank Owned!
  • 261 of the 681 sold this year were bank owned 38%
  • 77 of the 561 sold last year were bank owned 13.7%

What does all of this mean?

  • There are less homes to choose from currently than there were a year ago.
  • More homes have sold this year than last year for the same period.
  • With 154 pending sales and 681 closed sales this year, more homes will be sold in Big Bear this year than last year (669)
  • Big Bear does not have a high percentage of bank owned properties available, but what is available is selling faster than other homes sold by traditional sellers.

13 Homes Sold this Week in Big Bear, 9/26/2009

Click here to see the details on these 13 homes.

  • 9 of these homes were traditional sellers "69%", with a price differential of 77.24% of list price and 107 days on the market
  • 4 of these homes were bank owned "31%", with a price differential of 100% of list price and 18 days on the market
  • Overpriced homes (over 90% of the listings) will sit with no activity until they lower the price to meet the market.

    With 812 active listings on the market currently, the inventory has fallen about 8% in the past 30 days.

    I can show you any home for sale in Big Bear.

    Search the Big Bear MLS (Multiple Listing Service)

    Search the Southern California MLS (Multiple Listing Service)

    Steve Hirschler

    Associate, The Tim Wood Group

    Coldwell Banker Mountain Gallery

    42153 Big Bear Blvd.

    P.O. BOX 6820

    Big Bear Lake, CA 92315

    stevehirschler@gmail.com

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

    Fax 909 866-3531

    http://www.stevesellsbigbear.com

    Follow me on Twitter

    Subscribe to "Ask an Expert, Big Bear Real Estate Blog"

  • 10 Year Deed Recording Information for the Big Bear Area.

     

     
                                   
    YEAR 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Monthly
    Totals
    Monthly
    Rank
    10 Year
    Average
    2009 2009 % of 10
    Year Average
                                   
    JAN 125 125 158 130 194 163 128 139 77 44 1283 12 128 68 53%
    FEB 126 158 128 148 169 173 147 112 80 43 1284 11 128 69 54%
    MAR 183 174 168 187 197 219 186 118 99 59 1590 10 159 71 45%
    APR 159 169 150 213 227 238 170 131 81 65 1603 9 160 82 51%
    MAY 151 193 182 269 200 268 171 132 99 83 1748 7 175 80 46%
    JUN 161 198 207 224 199 246 188 148 78 85 1734 8 173 98 57%
    JUL 195 180 187 247 228 275 171 108 95 104 1790 4 179 96 54%
    AUG 191 256 264 292 246 263 198 159 106 90 2065 1 207 0 0%
    SEP 231 248 199 274 281 263 228 121 82 109 2036 2 204 0 0%
    OCT 188 270 224 302 227 236 199 123 77 101 1947 3 195 0 0%
    NOV 227 217 187 241 231 224 192 115 87 70 1791 5 179 0 0%
    DEC 237 194 199 276 216 214 186 111 68 62 1763 6 176 0 0%
                                   
    TOTALS 2174 2382 2253 2803 2615 2782 2164 1517 1029 915 20634 78 2063 564 27%
    YEARLY
    RANK
    6 4 5 1 3 2 7 8 9 10          

    I can show you any home for sale in Big Bear.

    Search the Big Bear MLS (Multiple Listing Service)

    Search the Southern California MLS  (Multiple Listing Service)

    Steve Hirschler

    Associate, The Tim Wood Group

    Coldwell Banker Mountain Gallery

    42153 Big Bear Blvd.

    P.O. BOX 6820

    Big Bear Lake, CA 92315

    stevehirschler@gmail.com

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

    Fax 909 866-3531

    http://www.stevesellsbigbear.com

    Follow me on Twitter

    Subscribe to "Ask an Expert, Big Bear Real Estate Blog"

     

    12 Homes Sold in Big Bear, 7/19 – 7/26/2009

    Click here to see the details on these 12 homes.

  • 6 of these homes were traditional sellers "50%", with a price differential of 98.17% of list price and 190 days on the market
  • 4 of these homes were bank owned "33.3%", with a price differential of 100.67% of list price and 32 days on the market
  • 2 of these homes were short sales "16.6%", with a price differential of 101.47% of list price and 399 days on the market.

    *As you can see, homes in the Big Bear area are still selling within 10% of the list price consistently. Buyers that want to purchase here will be disappointed if they expect to find homes selling for 25% or more off of list price. This also means that homes won't sell until the price gets close to market value. Overpriced homes (over 90% of the listings) will sit with no activity until they lower the price to meet the market.

    I can show you any home for sale in Big Bear.

    Search the Big Bear MLS (Multiple Listing Service)

    Search the Southern California MLS (Multiple Listing Service)

    Steve Hirschler

    Associate, The Tim Wood Group

    Coldwell Banker Mountain Gallery

    42153 Big Bear Blvd.

    P.O. BOX 6820

    Big Bear Lake, CA 92315

    stevehirschler@gmail.com

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

    Fax 909 866-3531

    http://www.stevesellsbigbear.com

    Follow me on Twitter

    Subscribe to "Ask an Expert, Big Bear Real Estate Blog"

  • Year to Date Price Per Square Foot For Homes Sold in the Big Bear Area

    When you start your search for a second home in Big Bear you should spend some time looking at the different locations. Location drives land value and that is why the same house is worth more or less in different areas.

    Lakefront homes for example have higher land values. The current land value combined with the improvements (house) establishes value. That is why a home on the lake that is functionally obsolete will still have a high value of one million dollars if it is located in a deep water location with a view.

    This also explains why a beautiful home in a less desirable area may be worth little more than the building costs, and sometimes less. Land has not been selling recently because construction costs are higher per square foot than the existing inventory pricing.

    Most homes that were built in the 90's for example had a building cost of less than $100 per square foot. Currently we are seeing building costs between $150 - $225 per square foot using a licenced and insured contractor.

    These are the different neighborhoods in the Big Bear area, and the average price per square foot sold year to date.

    • Lakefront - $516.44
    • Big Bear Lake West - $227.30*
    • Big Bear Lake Central - $186.41*
    • Big Bear Lake East - $199.93*
    • Fox Farm - $197.14
    • Moonridge - $201.01
    • Fawnskin - $220.82
    • Big Bear City - $147.83
    • Whispering Forest - $160.11
    • Sugarloaf - $125.58
    • Erwin Lake - $124.67
    • Meadowbrook - $216.36
    • Baldwin Lake - $147.66
    • Lake Williams - $117.81

    *Does not include lakefront home sales in these areas.

    I can show you any home for sale in Big Bear.

    Search the Big Bear MLS (Multiple Listing Service)

    Search the Southern California MLS (Multiple Listing Service)

    Steve Hirschler

    Associate, The Tim Wood Group

    Coldwell Banker Mountain Gallery

    42153 Big Bear Blvd.

    P.O. BOX 6820

    Big Bear Lake, CA 92315

    stevehirschler@gmail.com

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

    Fax 909 866-3531

    http://www.stevesellsbigbear.com

    Follow me on Twitter

    Subscribe to "Ask an Expert, Big Bear Real Estate Blog"

    Previously Posted on "Ask An Expert, Big Bear Real Estate"