Dec 04

Important Short Sale Advice – Video

Posted on December 4, 2011 by Steve Hirschler

Steve Hirschler
Market Specialist, Inventory Expert,
Big Bear Real Estate Agent
Coldwell Banker
The Tim Wood Group
42153 Big Bear Blvd.
P.O. BOX 6820
Big Bear Lake, CA 92315
DRE#01703081
stevehirschler@gmail.com
909 866-3481 EXT. 217
CELL 909 725-5889
Fax 909 866-3531

Dec 01

Fast Facts from the California Association of Realtors

Posted on December 1, 2011 by Steve Hirschler

Calif. median home price: October 2011: $278,060 (Source: C.A.R.)
Calif. highest median home price by region/county October 2011: Marin: $781,250 (Source: C.A.R.)
Calif. lowest median home price by region/county October 2011: Lake County: $96,500 (Source: C.A.R.)

Calif. Pending Home Sales Index: October 2011: 122., an increase of 3.1 percent compared with a prior year.

Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)

Mortgage rates: Week ending 11/23/2011 30-yr. fixed: 3.98% fees/points: 0.7% 15-yr. fixed: 3.30 fees/points: 0.7% 1-yr. adjustable: 2.79% Fees/points: 0.6% (Source: Freddie Mac)

Nov 08

Moonridge Real Estate Video Minute / Big Bear Area

Posted on November 8, 2011 by Steve Hirschler

These are the statistics for the 16 homes sold in the past 30 days in Moonridge area of Big Bear.

10 of these homes were traditional sellers. (62.5%)
6 of these homes were REO Foreclosures. (37.5%)
None of these homes were short sales.

The price differential of 95.24% tells us that homes that are priced well get offers within 5% of the asking price. With a median price sold of $196,000, Moonridge is quite affordable for most buyers in this market.

Please give me a call if you would like more information on the Moonridge Area, or any Big Bear Real Estate.

Steve Hirschler

909 725-5889

Oct 11

Big Bear Lake Foreclosure Trends

Posted on October 11, 2011 by Steve Hirschler

92315 Foreclosure Trends

Graph of Foreclosure Filings in Zip Code 92315

Foreclosure Filings—Notice of Default filings are the first step in the foreclosure process. Notice of Trustee Sale filings set the date and time of an auction, and serve as the homeowner’s final notice before sale.

Foreclosure Outcomes—After the filing of a Notice of Trustee Sale, there are only three possible outcomes. First, the sale can be Cancelled for reasons that include a successful loan modification or short sale, a filing error, or a legal requirement to re-file the notice after extended postponements. Alternatively, if the property is taken to sale, the bank will place the opening bid. If a 3rd party, typically an investor, bids more than the bank’s opening bid, the property will be Sold to 3rd Party; if not, it will go Back to the Bank and become part of that bank’s REO inventory.

Foreclosure Inventories—Preforeclosure inventory is an estimate of the number of properties that have had a Notice of Default filed against the property, but have not yet been Scheduled for Sale. The Scheduled for Sale inventory indicates those properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled. The Bank Owned (REO) inventory indicates the number of properties that have been sold Back to the Bank at the trustee sale, and which the bank has not yet resold to another party.

Foreclosure Bids—The Published Bid is the amount listed in the Notice of Trustee Sale and is typically the balance due at the original date of sale. The Opening Bid is the bank’s starting bid at auction, and is often discounted from the Published Bid. The Winning Bid is the highest bid received at auction and reflects the amount at which the bank or 3rd party purchased the foreclosure.

Foreclosure Discounting—This chart compares the winning Bid Amount of properties sold at trustee sale to both the outstanding Loan Amount, and the current Market Value. Banks place an Opening Bid for each property and if a 3rd Party does not make a higher bid, the property will be sold Back to Bank (REO) for the Opening Bid amount. Properties Sold to 3rd Parties will typically have Winning Bids with deeper discounts to both Loan Amount and Market Value as only low Opening Bids will attract investor interest.

Time to Foreclose—The average number of days between the filing of the Notice of Default and the final sale at auction for foreclosure sales that occurred during the specified month. Time to Resell—The average number of days between the final sale at auction and when the property was resold by the bank or 3rd party.

Filings By Number of Bedrooms—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the property’s number of bedrooms.

Filings By Square Foot—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the size range of the property in square feet.

Filings By Year Built—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by when the property was built.

Filings By Est. Market Value—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the estimated market value of the property in foreclosure.

Filings By Loan Balance—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the balance of the loan in foreclosure.

Filings By Loan Origination Date—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the quarter and year in which the loan was originally made.

California Foreclosure Process

Sep 01

San Bernardino County Home Sales Prices / July 2011

Posted on September 1, 2011 by Steve Hirschler

Aug 30

Cabin in Big Bear Lake Central Under $140,000

Posted on August 30, 2011 by Steve Hirschler

Cabin in the Mountains / Big Bear Lake

Overview
Maps
Photos
Market Stats

$139,900

Single Family Home

Main Features

3 Bedrooms
1 Bathroom
1 Unit
Interior: 700 sqft
Lot: 9,310 sqft

Location

40135 Highland
Box 6416
Big Bear Lake, CA 92315
USA

To get updates on open home dates and other property events, please click the “Like” button below:

Steve Hirschler

Coldwell Banker DRE# 01703081
(909) 866-3481
stevehirschler@gmail.com
http://www.stevesellsbigbear.com

Listed by: Coldwell Banker

Our recent listings

Cabin in the Mountains / Big Bear Lake
Moonridge Get A Way
Moonridge Chalet with Ski Slope Views
Great Level Lot
Single Family Residential for $229,900 in Big Bear Lake, CA

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Nearby properties for sale

Aug 18

Big Bear Area 10 Year Deed Recording History

Posted on August 18, 2011 by Steve Hirschler

89 deed recordings in July is the lowest number of recordings in this month for the past 10 years.

With 591 deed recordings YTD, we are still 22% (108 units) above the worst year of 2008.

2009 was also weaker YTD, with only 564 for the same period (4.5%) less than this year.

2010 had 645 for the same period , which is 9.13 % (54 units) higher than this year.

Hopefully the number of recordings will pick up again in the last quarter, as it did last year.

Jul 30

What’s Selling in Big Bear?

Posted on July 30, 2011 by Steve Hirschler

Jul 01

Big Bear Area Real Estate Fast Facts 7/1/2011

Posted on July 1, 2011 by Steve Hirschler

Current Residential Inventory – 820
Bank Owned – 56 / 7%
Short Sales – 68 / 8%
Traditional Resale – 694 / 85%
Lakefront – 35 / 4%

Residential Units Sold YTD – 348
Bank Owned Sold YTD – 104 / 30%
Short Sales Sold YTD – 54 / 15%
Traditional Resale Sold YTD- 190 / 55%
Lakefront Sold YTD – 7 / 2%

As you can see, with only 7% of the active listings the foreclosure sales are driving our market with 30% of the sales. Short sales are increasing and now account for 15% of the closed sales. Traditional sellers are still the largest category with 55% of the closed deals, but that is with 85% of the listings….