Big Bear Lake, CA Real Estate News

By Carol Neu, SFR, RCS-D - Big Bear Foreclosures
(Evergreen Realty)
Mark your calendars for the 11th Annual "Art on the Lake" weekend art show August 21st & 22nd.  It will be held at the Marina Resort (40770 Big Bear Blvd. in Big Bear Lake) in and around the big white tent. Fifty plus artists from around Southern California will participate in this festival to exhibit their work. There will be everything from paintings in oil, acrylic and watercolor, to sculptures, photography and even jewlery.You will have the opportunity to ask questions of the artists. Many of the artists Big Bear Locals and most are from Southern Californiar. A few are award winning and nationally recognized.  They make “Art on the Lake” a show worth putting on your calendar. The festival is open at 10 AM until 4 PM on Saturday and 10 AM to 3 PM on Sunday.  Food and drinks will also...
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By Steve Hirschler, Big Bear Real Estate
(Keller Williams Big Bear)
  72 Homes Sold in Big Bear June 2010 Fast Facts Purchase prices in June were 94.64% of the list price in Big Bear. Average days on the market were 82 With a current inventory level of 851, this represents a 12 month supply of homes. Average price sold was $249,756. 24 of these homes were bank owned foreclosures 33.3%. 37 of these homes were traditional sellers, 51% !! 10 of these homes were short sales, 13.8%. Only one of these homes was new construction. Steve Hirschler  
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By Israel Barden
(RE/MAX Big Bear Village)
I just wanted to take this opportunity to reiterate a point I have brought up time and time again. If you are planning on buying a home, bank owned or not, your first order of business is to get preapproved. If you do not take the time to complete this essential step, you are setting yourself up for failure. Why go to all the trouble of finding a property, writing it up and getting your offer accepted, only to have your hopes dashed before your eyes? I know I have addressed this before, several times, but I think it is worthwhile to revisit the subject. Being preapproved gives you instant credibility with a seller. When you present your offer to the seller, accompanied by a preapproval letter, it automatically lets the seller know that you are a buyer to be taken seriously. It also let...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
On June 21, 2010 GMAC will be offering financing incentives on their REO properties.   This program will help buyers save some money on fees and services when buying a REO in Big Bear that is owned by GMAC.  Not all GMAC REO properties will qualify for this program.  When I get new listing that do qualify, it will be noted in the MLS and I will have informational packages at the properties.  As always, I am available by phone or email to answer any questions that come up regarding this new and exciting program.SAVINGS            One Year Home Warranty at no charge            No Pre Approval Fee            No Loan Application Fee            No Charge for Credit Report            No Appraisal Fee   Qualifying Loans              Conventional Loans  (Fixed or Adjustable)           FHA  (Fix...
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By Steve Hirschler, Big Bear Real Estate
(Keller Williams Big Bear)
12 Homes Sold This Week in Big Bear 6/4/2010 Statistics for Homes Sold in Big Bear 6/4/2010 Price Address Area Subarea Bd Baths SF Apx Ttl Sold Price Sold Date 89,500 1101 SUGARLOAF BBC GBBC 2 1 769 91,000 6/3/10 90,000 209 W FAIRWAY BBC GBBC 2 2 770 85,000 6/4/10 94,900 754 SPRUCE SUGA GSUG 1 1 600 98,000 6/4/10 105,000 40255 ESTERLY BLC GBLC 1 1 720 98,000 6/4/10 112,710 861 E BARKER BBC GBBC 2 1.5 1240 110,000 6/4/10 139,000 40 SILICON BALD GBAL 2 1 1024 110,000 6/3/10 149,500 513 SUGARLOAF BBC GBBC 2 1 810 140,000 6/3/10 149,900 1020 CHERRY LANE BLC GBLC 1 1 720 130,000 6/1/10 259,900 681 CHIPMUNK BLW GBLW 4 3 1812 250,000 6/1/10 294,900 637 VILLA GROVE MOON GMO 3 2 1216 290,000 6/3/10 604,800 402 GLENWOOD FOXF CAST 4 3 3819 582,500 6/2/10 925,000 42399 GOLDEN OAK FOXF CAST 4 2.5 3...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
The Big Bear Valley is expecting the number of bank-owned REO properties to rise in the summer of 2010. Here are 7 Tips that can help you snag a bank-owned property. First- Hire an REO expert with experience buying and selling bank-owned properties in the Big Bear Valley.  I am that expert Avoid lowball offers. Since most bank-owned properties in Big Bear are being sold at list price or above, a lowball offer will not work. Consider submitting an offer slightly above list price. Determine the value of the property. You make your money when you buy and not when you sell. I can help you become an expert in the Big Bear market so you can recognize a bargain instantly when you see it. Also have an inspector and contractor evaluate the property and itemize all the repairs that need to be mad...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
I don't usually use AR to complain about other Realtors or agents, but after what took place last week, it is time to vent! I called a potential buyer about ten days ago as follow up from when she was visiting our web site.  This particular lady told me what she was looking for and I sent her a list of current listings in Big Bear that fit her needs.  The next Monday I received an email from the buyer asking for information on three of the listings that I sent over.  After providing her with more information on the properties, I learned that she was in Big Bear over the weekend and was able to access one of the properties when someone else was looking at it.  To make a long story short, the emails and phone calls when back and forth with the person asking me to write up an offer for her...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
When writing my last blog, I discussed the Home Inspection process in Big Bear and today I thought I would take it one step further and discuss who is responsible for paying for repairs that came up in the home inspection. There are a number of buyers that think that after getting a home inspection, they then expect the seller to make all of the repairs that came up as a result of the inspection.  In trying to shed some light on that subject, let's examine a few things. What is required of the seller in order to sell a home in Big Bear? The California Residential Purchase Contract states that the only thing a seller is required to do to his house in Big Bear, or anywhere else in California for that matter is to strap the water heater and make sure that there are working smoke detectors ...
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By Israel Barden
(RE/MAX Big Bear Village)
Today I am speaking about Fannie Mae bank owned homes and how they differ from other REO"s in Big Bear Lake Ca. If you have any questions on Big Bear real estate, please contact me at izzy@thetimwoodgroup.com . http://www.youtube.com/watch?v=fVUyDym03OQ        
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
Why should I have a Home Inspection on my Big Bear Property? When it comes to buying a home in Big Bear, the question of why have a home inspection and who pays for it comes up quite frequently. Let's take a few minutes and address both of the commonly asked questions that I get. Who pays for the Home Inspection? The home inspection isn't a required inspection in Big Bear, but it is highly recommended. As it isn't a required inspection, the buyer would be responsible for paying for the home inspection. How much does the Home inspection Cost? The cost of the home inspection on a home in Big Bear will vary depending on the size of the home.  Most home inspectors that I deal with base their fee off of the square footage of the property.  Unless you are looking to buy something rather large...
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By Steve Hirschler, Big Bear Real Estate
(Keller Williams Big Bear)
Big Bear Residential Sales YTD 2010 - 307 units vs. 2009 - 285 units up (7.7%) Average Price Sold 2010 - $240,797 vs. 2009 $266,504 - down (9.6%) 131 Traditional Sales (43%) 137 Bank Owned REO Foreclosures (45%) 39 Short Sales (12%) Search the Big Bear MLS Search Foreclosures in Big Bear Steve Hirschler DRE#01703081 Associate, The Tim Wood Group Coldwell Banker 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 *Big Bear Real Estate Market Update statistics provided by the Big Bear MLS.
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By Steve Hirschler, Big Bear Real Estate
(Keller Williams Big Bear)
Big Bear 10 Year Deed Recording History Deed recordings YTD are flat with 2009 numbers YTD / 2009 – 290 units vs. 2010-286 units Deed recordings are down 45% from the 10 year average of 517 units for this period. Big Bear Area Deed Recording Chart   Search the Big Bear MLS Search Foreclosures in Big Bear Steve HirschlerDRE#01703081Associate, The Tim Wood GroupColdwell Banker42153 Big Bear Blvd.P.O. BOX 6820Big Bear Lake, CA 92315stevehirschler@gmail.com909 866-3481 EXT. 217 CELL 909 725-5889Fax 909 866-3531  
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
  My Yorkies are currently Big Bear Lake, CA and they will be 6 weeks old in a week. The father is 5 pounds and the mother weighs in at 8 pounds.  Previous litters have always brought small puppies. While the puppies are pure bread Yorkies, I do not have papers on them.  If you're looking for a show dog, then you will want to keep looking. But, if you are looking or a pure bread Yorkie who will give you years of love and companionship, then these puppies might be just what you are looking for.       i'm charging $600.00 each for these Yorkies.  Please feel free to contact me by email or phone.  My email is tony@tonycard.com and my phone is 909 436 8043. The puppies are located in Big Bear lake, CA.  Big Bear Lake is a resort town located in the San Bernardino Mountains in Southern Cali...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
Long gone are the 5% and 0% down home loans in Big Bear.  If you don't have at least 10% or your down payment, most people look towards an FHA backed loan.  A FHA backed loan allows you to get into your primary residence with as little as 3.5% down.  However, if you're looking for a home loan for a second home in Big Bear, FHA probably won't work for you.  What other options are out there? Have you heard of Fannie Mae?  Fannie Mae buys home loans from banks and ended up owning a lot of property in Big Bear after the housing bubble burst, Fannie Mae is not in the business of owning homes.  They wanted these homes sold and sold quickly. Fannie Mae recognized the need for an alternative to FHA financing on homes that they own.  As a result of this, they now offer low down financing through...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
You would think that with 730 homes for sale in the Big Bear Multiple Listings that you would have a great selection of homes to choose from.  I think it is safe to say that out of that 730 homes for sale in Big Bear, 650 of them are overpriced.I hear people talking all of the time about how bad the Real Estate market is in Big Bear.  Sometimes these negative remarks come from people who are trying to sell their homes and other times it comes from agents who can't sell their listings.  Remember this.  If you price it right, it will sell.You would think that with 730 homes on the market, there would be plenty of homes to pick from in the Big Bear Real Estate inventory.  Unfortunately, that statement is so far from the truth. So many of these homes have been on the market for months and ...
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By Steve Hirschler, Big Bear Real Estate
(Keller Williams Big Bear)
Fannie Mae recently announced it is extending its seller assistance incentive on all Fannie Mae-owned HomePath properties. Buyers will receive 3.5 percent of the final sales price, to be used toward closing cost assistance or their choice of selected appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on www.HomePath.com by June 30. Properties listed on www.HomePath.com are owned by Fannie Mae and include a variety of homes, including single-family homes, condominiums, and town houses. HomePath properties also may be eligible for HomePath Mortgage and HomePath Renovation Mortgage financing, which offers prospective buyers an opportunity to purchase properties with as little as 3 percent down. * Information provided by C.A.R. Steve Hi...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
While sitting at my desk the other morning, I received a phone call from a very anxious and nervous client of mine.  Why was he so nervous and anxious you ask?  He came to Big Bear to work on the small fixer cabin that he had purchased and found a note posted on the window stating that the bank was foreclosing on the property.  His first question to me upon arriving at my new office was How could this happen?  I paid CASH for the cabin.  Knowing that we weren't going to be able to deal with any of this until my client had calmed down, my first objective was to get him calmed down so that we could focus on the problem.  After all, how often do you arrive at your Big Bear cabin and find a Notice of sale from the bank posted on your property. Once he calmed down and we started looking in ...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
I went out to preview a bank owned, REO property today in Big Bear that I planned to show to a client tomorrow.  According the Multiple listing Service, this property fell out of escrow and came back on the market.  The details in the listing did state that the purchase of the home was subject to the successful cancelation of the previous escrow.  I've seen this verbiage before in listings that come back on the market in Big Bear, but I've never had any problems from them. To start off with, this REO cabin was back off of the beaten path and was very difficult to locate.  The navigation system in my vehicle was of no help as it didn't even recognize that I was on any type of road.  I finally found the REO in an area that I would call Toad Butt Arizona!   Upon arriving, I was surprised t...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
Clients of mine just closed escrow on a property that was being sold by a private owner.  While the clients ended up buying a cabin in Big Bear from a private party, they originally came to buy a Bank Owned, REO.  This couple came to Big Bear with the intention of buying a bank owned, REO and never gave a thought to buying a cabin from a private owner.  I met these people at the REO one afternoon and after viewing the home, they decided to make an offer.  Most REO properties in Big Bear have multiple offers on them and this cabin was no exception.  Even though the clients wrote a very strong offer, I was informed that they were not the best offer.  They were very disappointed to learn that the cabin that they thought was their dream home would not be there's but they didn't give up.  I ...
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By Tony Card, Your Big Bear REO Specialist
(Keller Williams, Big Bear Lake, CA)
Realtors are specialist, just like your doctor.  Would you go to a foot doctor if you had a heart ailment?   Of course not!  You would seek out a professional that specializes in the area of treatment that you need and then you would go and see him.  Then let me ask you this?  Why is it that you will risk your financial health by using an unqualified Realtor?  When you're sick, you see the doctor who specializes in whatever it is that you have.  You seek their advice, you heed their advice and you get better.  Yet so many people will want to buy a second home in Big Bear and bring their Realtor buddy from their home town to help them.  Let's take a look at this and explore why it's a foolish thing to do. Real Estate is Local Just like the weather, Real Estate is local.  What is happenin...
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