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Steve Hirschler
Coldwell Banker DRE# 01703081
(909) 725-5889 stevehirschler@gmail.com http://www.stevesellsbigbear.com       
Listed by: ColdwelL Banker / The Tim Wood Group |
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The Big Bear Multiple Listing Service recorded 863 sales in 2011. Below is a breakdown showing chart showing how many units each price range contributed.
With 794 (92%) of the homes sold falling into the under $500,000 price range, and only 69 over $500,000 (8%), it is fair to say higher end sales are tough. The price range that is selling best is $100,000 – $200,000 with about 40% of the homes sold.
Sales of homes over 1 million are location driven. Of the 12 sales over $1 million in 2011, and 8 were on the lake, 3 in Castle Glen, and 1 in Moonridge.
Only one home in Big Bear City sold for over $560,000 last year, and that was 646 Cedar Glen in Meadowbrook Estates which closed at $900,000 in June.
Foreclosures made up 28% of the sales, while short sales were only 14%. Traditional residential sellers made up the remaining 58%.
312 (36%) of all of the sales were cash transactions.
We have seen a change in the past 2 years when looking at our deed recordings. Traditionally the highest number of recordings occur during the late summer and early fall months, but in the past 2 years the month of December has had the highest number of recordings.
We also have the lowest inventory of residential homes (569 units as of this morning) that we have had in over 5 years.
Currently in the Big Bear area we have 112 pending sales (escrows) and 39 active contingent short sales that are awaiting bank approval.
I believe prices will continue to soften for the next 12 months, but at a slower rate than what we have seen in the past 3 years.
Area Activity & Short Sale Report December 2012
Market @ A Glance
| California | Reporting Period | Current | Last | Year | Change from Last Period | Change from Year Ago |
| Period | Period | Ago | ||||
| Existing Home Sales (SAAR) * | 11-Nov | 503,570 | 493,140 | 492,040 | 2.10% | 2.30% |
| Median Home Price * | 11-Nov | $280,960 | $278,060 | $296,480 | 1.00% | -5.20% |
| Unsold Inventory Index (months) * | 11-Nov | 5 | 5.3 | 6.2 | -5.70% | -19.40% |
| Median Time on Market (days) * | 11-Nov | 56.6 | 55.2 | 54.8 | 2.50% | 3.30% |
| Traditional Housing Affordability Index (HAI) * | 2011 Q3 | 52% | 51% | 46% | 1.00% | 6.00% |
| 30-year fixed-rate mortgage (FRM) ** | 11-Nov | 3.99% | 4.07% | 4.30% | -0.08% | -0.31% |
Source * CALIFORNIA ASSOCIATION OF REALTORS* and Federal Home Loan Mortgage Corp
It looks like 2011 will end up near 2007 and 2009 levels for deed recordings, but fall short of 2010 by about 100 units. Currently their are 157 pending sales in the Big Bear MLS , with 117 of these being residential. The inventory as of this morning is 647 active residential listings. YTD closed residential sales are 813, compared to 849 for 2010 same period. If you would like to discuss Big Bear Real Estate statistic please feel free to email or call me.
Steve
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
Calif. median home price: October 2011: $278,060 (Source: C.A.R.)
Calif. highest median home price by region/county October
Calif. lowest median home price by region/county October 2011:
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)
Many of my clients ask about the Moonridge area. Moonridge is a neighborhood that has many benefits for people that want to own a home in a Alpine environment and lots of activities near by.
With the mountain terrain with lots of pine, oak and spruce trees it is one of the best places to get away from the city and enjoy the fresh mountain air. Many of the homes in Moonridge have views of Big Bear Lake and Bear Mountain .
Big Bear Lake
Bear Mountain offers snow boarding and skiing in the winter, and Golf in the summer months.
Bear Mountain Snow Board and Ski Area
Bear Mountain Golf Course
There are also many National Forest access points in the Moonridge area.
Some of the access points are:
Boating and fishing are also popular past times in Big Bear during the summer months. Big Bear Lake has 2 public boat ramps along North Shore that are a short drive from the Moonridge area.
Moonridge is the perfect location for buyers that are looking for 4 seasons of fun in the San Bernardino Mountains.
