I was reviewing some historical averages in order to put some perspective on where we stand in today’s real estate market and wanted to share with you some interesting points:

Historical Trends Imply Prices are Undervalued

Going back to 1989, when the average home price nationally was $95,000 and adjusting from there at the historical rate of 4% appreciation annually, the average home price now would be $231,000 – However, the national average is currently $176,600 – This implies, based on that historical trend line, prices may still be undervalued by 23.8% right now. ...continue reading →

May 2013 Market Update: As we head towards summer, the Big Bear real estate market is heating up. Watching the market like I do, I have been surprised recently by the number of new homes coming to market, many with very optimistic list prices, which are selling in a matter of days. Demand and excitement in Big Bear’s real estate market is strong and growing stronger. It seems that yesterday’s market is history and the “new” market is here now, with momentum building into summer. However, as detailed below, affordability is still fantastic and interest rates are still historically low – so it remains a great time to buy the right piece of real estate in Big Bear. Let’s get caught up on what has transpired in the Big Bear real estate market shall we? ...continue reading →

Spring has officially sprung and tax time is thankfully behind us for another year. The weather here in Big Bear has been outstanding and, having tested it myself yesterday, I am happy to report that, although still chilly, the lake is indeed ready to enjoy. Thanks for checking in with us on the Big Bear real estate market. Let’s get right to it and see how the first quarter of 2013 shaped up and what that indicates as we head into the summer selling season.

Current Market Dynamics

The trend that began in late summer and fall of last year — of lower than normal supply and increasing demand — persists. Although, as it is now the season to list, we are starting to see more homes come to market in recent weeks. ...continue reading →

Hello from Big Bear and thanks for checking in with us for the latest in the Big Bear real estate market. 2013 is off to an amazing start. Let’s run through the numbers to see what has been happening:

• February 2013 saw 75 closed residential sales, up 9% from February 2012. Year to date, compared to last year, we are up a substantial 25% in number of homes sold.

• Sales in the hot “under $250K” price range were relatively flat last month (52 in February 2013 vs. 50 in 2012). However, in the price range between $250k and $500k there was a 36% increase and between $500k and $750k there was a whopping 100% increase, so demand seems to gradually be spreading into the higher price ranges.
• Of what sold through February this year, resales made up 70% of the closings whereas 16.5% were foreclosures and 12.5% were short sales. 27% of these sales were cash deals.

...continue reading →

Thanks for checking in with us regarding the Big Bear real estate market. Winter is in full swing here in Big Bear with lots of snow on the ground and lots of fun to be had on the slopes. With the New Year recently underway, it is a good time to get caught up on what has transpired in our market in 2012 and what the prevalent trends tell us to expect in the year to come.

Dramatic Increase in Properties Sold

For the Big Bear real estate market, 2012 was a very encouraging year. Compared to 2011, we saw an impressive 24.7% increase in the number of residential sales (1,080 in 2012 vs. 865 in 2011). To put that in perspective, we haven’t seen a year with transactions over 1,080 since 2005. ...continue reading →

The first snow of the season has finally arrived and as the snow falls, Big Bear home sales continue to rise. Let’s get caught up on the happenings in the Big Bear real estate market shall we?

The number of residential homes sold in November 2012 increased 18% from a year earlier and the number of closings (107) was the highest level of any November in six years. In fact November marked the tenth straight month that year-over-year homes sales increased in Big Bear. Year-to-date, compared to 2011, sales have increased a whopping 29.3%.

Demand is on the Rise: Big Bear Valley Home Sales Since 2008

...continue reading →

Cooler temperatures and colorful trees are plentiful here in Big Bear. There is no mistaking that summer has passed and the big question now is, when will the first snow arrive? (My guess is prior to Thanksgiving.)

Thanks for checking in on the Big Bear real estate market with us. There is a lot to get caught up on so let’s jump right in. What an amazing 3rd quarter for sales we have seen. You would have to go back 7 years to 2005 to find a 3rd quarter with more residential closings than 2012 (see graph below for perspective).

...continue reading →

Thanks for checking in with me on the Big Bear real estate market. It is hard to believe that the first half of the year has already come and gone, but what an amazing ride it has been. There is so much to catch up on, so let’s dive right in.

Over the past few months, there has been quite a lot of positive news regarding new strength in real estate markets both nationally and statewide, as well as in Southern California. That said, it is important to realize that real estate is, in fact, a very local business. As an analogy: the average temperature in the USA on any given day will most likely not accurately describe the weather where you live. ...continue reading →

Reading today about the truly incredible interest rates currently available encouraged me to spread the word here. Interest rates have been so low, for so long now, that seeing news about low rates might prompt a “great, but what is new” response. However, rates now are so incredibly low for qualified buyers that it certainly warrants attention.

Today’s Freddie Mac Survey of Lenders found that the 30-year fixed home loan rate is currently averaging 3.75% and that the 15-year fixed is at 2.97%. Historically, this is unprecedented, especially the 15-year loan being under 3%. ...continue reading →

A snowy day in Spring makes it a good time to catch up on the Big Bear real estate market. Quarter one is done – Let’s see how the Big Bear real estate market faired:

2012 has gotten off to quite an impressive start. Seasonally in Big Bear, most of the transactions done in any particular year occur in summer and fall and as such, the first quarter in Big Bear doesn’t necessarily define how the year will turn out. That said, this established momentum should not be ignored as it will certainly help maintain traction heading into summer. ...continue reading →