Winter Arrives in Big Bear with a Bang
The wait for winter is over!! Snow has been falling in Big Bear all day with at least 15 inches of new snow on the ground at lake level, much more up at the top, and it is still coming down as I write this late Monday evening. They predict another substantial storm to roll though late Tuesday into Wednesday so we could easily have two feet or more of snow on the ground before this weekend. That should make for a fantastic holiday season.
Big Bear Real Estate: Strong Winter may lead to nice "January Effect"
While the holiday season is typically a relatively slow time for Big Bear's real estate market, with so many visitors up to enjoy our alpine paradise in the weeks to come, many will no doubt fall in love with all this beautiful valley has to offer. When combined with the increased affordability of Big Bear real estate and the super low interest rates currently available, this should hopefully lead to a nice ‘January effect’ in the big bear real estate market.
Big Bear Real Estate Saw a Disappointing November
Improvement in January would be much welcomed as November was a sad month for real estate in Big Bear. All of the turmoil in the financial markets during late September and October translated into a substantial decline in the number of closed transactions in November. The trends we have been tracking of increased sales did not hold up, even in the under $250K market. Whether November and December marks the beginning of a new trend of waning demand, or whether instead they prove to be an anomaly and the recent stabilization in the Big Bear real estate market shows a continuation remains to be seen. For the economy in general and for Big Bear real estate, 2009 should be an interesting year. As always I’ll be tracking and analyzing the data in order to keep you informed. I will have a re-cap of 2008 ready in early January and until then, I wish you and yours a wonderful holiday season and always look forward to hearing from you.