Dec 29

Big Bear Real Estate Statistics, Sold 2011 vs 2012

Big Bear Real Estate Statistics, Sold 2011 vs 2012

 

In 2011 we had 865 closed residential sales in the Big Bear MLS. YTD through today 12/29/12 our closed residential sales are 1072 this year. The average price sold went from $154,858 in 2011 to $238, 197 in 2012, that is a 53.8% increase. The average price per square foot (a better indication of price trends) has risen from $144.03 in 2011 to $146.37 in 2012, a 1.6% increase year over year.

Big Bear Real Estate Sold YTD 2012

Big Bear Real Estate Sold YTD 2012

Big Bear Real Estate Sold 2011

Big Bear Real Estate Sold 2011

With only 380 active listings in the Big Bear MLS, and 97 closed sales in the past 30 days we are now at an inventory level with 3.91 months of supply. If this trend continues in the new year, prices should begin to rise.

Dec 18

Current Big Bear Lake Foreclosure Trends

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Graph of Foreclosure Filings in Zip Code 92315

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.
Apr 13

Foreclosure Trends for Big Bear Lake CA 92315

Mar 08

Market Condition Report for Big Bear Lake Area March 2012

Weeks Supply Given Demand is the Absorption Rate (the number of weeks required to exhaust supply given demand) measured in time. High rates signal excess units of supply relative to demand. Low rates signal the opposite. The Ratio of Supply to Demand measures the number of units of supply relative to the number of closings per month (demand) measured in units. All other things being equal, the smaller this number, the tighter the area market. Green formatting signals relatively tight markets in the area segment. Red formatting flags those areas where supply is too high relative to the current level of demand. This oversupply is usually resolved by price adjustment.

Feb 17

Rates are Great, Check Out These Mortgage Rate History Charts

200 Year Mortgage Rate History

Thank you to Martha Moriarty-McKinley for providing these charts. If you are looking for a local lender to make a purchase, or refinance here in Big Bear Martha does a great job.

Feb 14

Foreclosure Trends for Big Bear Lake, CA 92315

California Foreclosure Process

92315 Housing Data

Median House Value $194,400
Single Family 88 %
2-4 Units 4%
5+ Units 4%
Average Age 26.2
Owner-Occupied 63%
Median Rent $581
Source: 2000 Census

92315 Demographics

Population

Population 5,362
Density 826 persons / Sq Mi

Ages:

0-18 22%     18-64 59%     65+19%

Education Attainment

High School 25%
Some College 37%
Bachelors 15%
Graduate or Professional 7%

Income

Median Household Income $34,537
Married with One Wage-Earner26%

Work / Commuting

Working 44 %
Working in same County 90%
Avg Commute Time 22.6 min
Workers using Alternative Transportation 35%

Source: 2000 Census