Moonridge Area of Big Bear Sold Year to Date 4/28/2009
Year to date through 4/28/2009 there have been 36 closed sales in Moonridge. There are 155 active Moonridge listings, and 21 pending in escrow. We have a 17 month supply of inventory at the current rate of sale. 13 of the 36 closed sales were Bank Owned and 3 were Short Sales.
The price differential shown above tells us that the homes in Moonridge that are selling, sell very close to list price. This isn’t surprising to me, price is the most important factor in this market. When a home is priced correctly it will sell, it’s really that simple. Knowing what price to list at is by far the most important decision a seller must make. List price should be based on market conditions and not a sellers perception or need. Banks are making this more apparent, they are not emotionally attached to homes. Bank owned properties are being priced based upon comparable sales, and nothing else. This is why the bank owned homes sold in Moonridge have an average of 70 days on the market and all of the other types of sellers are averaging 217 days in the Moonridge area. That’s 3 times as long as the average bank owned listing.
When I look deeper at the statistics, the bank owned homes sold have a price differential of 100.11%, and the other types of sellers are at 93.46% of list. During the extra days on the market the sellers were chasing the market with price reductions until they finally get their homes price to match the market, and then like magic they sell! This is good, but not great. One thing that happens in this scenario is that the buyer sees that the home has been on the market 200 days and decides that the seller must be motivated to take less. This generates a lower offer, thus the 93.46% price differential.
First impression of value creates a sense of urgency in buyers, once lost the buyer assumes you are over priced. If not, why didn’t someone put in an offer?
If you would like to discuss the Big Bear Real Estate market, please give me a call.
I can show you any home for sale in Big Bear.
Search the Big Bear MLS (Multiple Listing Service)
Search the Southern California MLS (Multiple Listing Service)
Steve Hirschler
Associate, The Tim Wood Group
Coldwell Banker Mountain Gallery
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
http://www.stevesellsbigbear.com
Subscribe to “Ask an Expert, Big Bear Real Estate Blog”
Bear Valley News-Big Bear Lake’s efforts to go green-April 25, 2009
Big Bear Lake’s efforts to go green |
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Mayor Rick Herrick and Mayor Pro Tem Bill Jahn placing clean air decal on a City fleet alternate fuel vehicle.
In the spirit of Earth Day and an effort year-round to be conscious of ways the City of Big Bear Lake can “go green”, several green efforts are already in place:
About Big Bear Lake The City of Big Bear Lake is a four-season resort located in the heart of the San Bernardino National Forest, approximately 30 miles northeast of San Bernardino. The City serves a population of 6,500 residents and covers a 6.95 square mile area on the west end of Big Bear Lake’s south shore. Recreation is offered year-round, including skiing, boating, fishing, camping, hiking, golf and fine dining. Visit us at www.citybigbearlake.com.
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Sold in Big Bear, Week Ending 4/25/2009
Click here for property details on these 16 homes.
I can show you any home for sale in Big Bear.
Search the Big Bear MLS (Multiple Listing Service)
Search the Southern California MLS (Multiple Listing Service)
Steve Hirschler
Associate, The Tim Wood Group
Coldwell Banker Mountain Gallery
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
http://www.stevesellsbigbear.com
Subscribe to “Ask an Expert, Big Bear Real Estate Blog”
6 New Bank Owned Reo Properties in Big Bear
These are 6 new bank owned homes that came on the market this week. Please call or email if you want to purchase a bank owned home in Big Bear, I will get you the best deal.
I can show you any home for sale in Big Bear.
Search the Big Bear MLS (Multiple Listing Service)
Search the Southern California MLS (Multiple Listing Service)
Steve Hirschler
Associate, The Tim Wood Group
Coldwell Banker Mountain Gallery
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
California Association of Realtors Fast Facts
- California median home price – February 09: $247,590(Source: C.A.R.)
- California highest median home price by C.A.R. region February 09: Santa Barbara So. Coast $715,000 (Source: C.A.R.)
- California lowest median home price by C.A.R. region February 09: High Desert $121,970(Source: C.A.R.)
- California First-time Buyer Affordability Index – Fourth Quarter 08: 59 percent (Source: C.A.R.)
- Mortgage rates – week ending 4/9/09 30-yr. fixed: 4.87% Fees/points: 0.7% 15-yr. fixed: 4.54% Fees/points: 0.7% 1-yr. adjustable: 4.83% Fees/points: 0.5% (Source: Freddie Mac)
Search the Big Bear MLS (Multiple Listing Service)
Search the Southern California MLS (Multiple Listing Service)
Steve Hirschler
Associate, The Tim Wood Group
Coldwell Banker Mountain Gallery
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
3 New Bank Owned Properties in Big Bear
These are 3 new bank owned homes that came on the market this week. 1123 Sugarpine is already in escrow and had multiple offers. Please call or email if you want to purchase a bank owned home in Big Bear, I will get you the best deal.
Search the Big Bear MLS (Multiple Listing Service)
Search the Southern California MLS (Multiple Listing Service)
Steve Hirschler
Associate, The Tim Wood Group
Coldwell Banker Mountain Gallery
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
San Bernardino County Homes Sales Prices March 2009
I can show you any home for sale in Big Bear.
Search the Big Bear MLS (Multiple Listing Service)
Search the Southern California MLS (Multiple Listing Service)
Steve Hirschler
Associate, The Tim Wood Group
Coldwell Banker Mountain Gallery
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
http://www.stevesellsbigbear.com
Subscribe to “Ask an Expert, Big Bear Real Estate Blog”
Home Sales information provided by:
Sold in Big Bear Week ending 4/11/2009
- 2 were bank owned “40%”
- None of these homes were short sales
- 3 were organic (traditional seller)
I can show you any home for sale in Big Bear.
Search the Big Bear MLS (Multiple Listing Service)
Search the Southern California MLS (Multiple Listing Service)
Steve Hirschler
Associate, The Tim Wood Group
Coldwell Banker Mountain Gallery
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
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