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.

For all you outdoor enthusiasts, a 5k and 10k snowshoe race will be coming the Big Bear Lake on February 9th, 2008. What a terrific way to get out and enjoy one of the many outdoor activities that Big Bear has to offer.

In partnership with the San Bernardino National Forest Service and our local Big Bear Discovery Center, this should be a fun & invigorating event for all. More details can be found here along with a schedule of events and how to register. If you have any specific questions, contact Sarah Miggins, Executive Director for the National Forest Service.

The route will go along forest roads 2N08 (Knickerbocker Rd.) and 2N10 through some of the most beautiful scenery Big Bear Lake has to offer. I have had the pleasure of mountain biking and snowshoeing this trail and can vouch for the views and setting. Check out the quick video below with more snowshoeing from 2N08.

I will post more details along with a copy of the route map once I receive it.

I hope to see you there on Feb. 9th!

If you are considering selling your Big Bear property, then you will need to consider the following question: Do you absolutely have to sell this home? If the answer to this question is “no”, then I would suggest not even trying to sell in the current real estate market conditions.

This real estate market is for serious sellers only. What is a serious seller you might ask? A serious seller is someone who has to sell no matter what is going on with the market. A serious seller is willing to price their property accordingly. I am sure if you survey the majority of sellers that closed escrow on their Big Bear property in December of 2007, they will tell you they are not pleased with the price they got for their property but they were happy to get it sold.

If you are not a serious seller, then you will not want to hear the truth about the price of your property. And trust me, the truth hurts really bad in this market. Today’s Big Bear real estate market is not a market for the “let’s see what happens with this price” type of sellers. We don’t have to wait and see what happens, there enough examples to show us that it will not sell.

A serious seller is willing to do the things that are necessary to get the home sold. This includes making miscellaneous repairs, keeping to property clean, and making it available to be shown at all times.

I am a serious real estate agent and I take my job and profession the same way. If you are serious about getting your Big Bear home sold in this market, feel free to contact me.

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 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!