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$18,000 IN COMBINED HOMEBUYER TAX CREDITS FOR A LIMITED TIME

Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits.  To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive.  Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.
Under the federal law slated to soon expire, a first-time homebuyer may receive up to $8,000 in tax credits, and a long-time resident may receive up to $6,500, for certain purchase contracts entered into by April 30, 2010 that close escrow by June 30, 2010.  Additionally, under a newly enacted California law, a homebuyer may receive up to $10,000 in tax credits as a first-time homebuyer or buyer of a property that has never been occupied.  The new California law applies to certain purchases that close escrow on or after May 1, 2010 (see Cal. Rev. & Tax Code section 17059.1(a)(4)).  California law generally allows buyers of never-occupied properties to reserve their credits before closing escrow, but buyers seeking to combine the federal and state tax credits will not be able to satisfy the timing requirements for such reservations (see Cal. Rev. & Tax Code section 17059.1(c)(1)(A)).  Other terms and restrictions apply to both tax credits.
For more information, C.A.R. offers a Homebuyer Tax Credit Chart with a side-by-side summary of the federal and California laws.  C.A.R. also offers a legal article entitled Homebuyer Tax Credit Update.

Information provided by ” California Association of Realtors”

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March 31, 2010 Posted by | Bank owned in Big Bear, Homes for Sale in Big Bear, Real Estate | , , | 2 Comments

Are You Ready to Buy a Cabin in Big Bear?

Most buyer’s start their search online before they contact a realtor. This gives the buyer a feel for the market, but not always a true picture.

After you have done some research online, you should contact a lender to determine the current mortgage rates, what you will qualify for, and a price range that will produce a payment that is comfortable on you budget. Taking the time to get your prequalification with a lender will allow you to avoid looking at homes that out of your budget.

Most lenders currently require a minimum of 20% down payment for second homes, and it’s a good idea to offer 3% in good faith deposit. Closing costs are additional cash needed to buy, so be sure to inquire with your lender what these will be for your loan etc.

This is also a good time to select a local Realtor to represent you during the buying process. Selecting your agent is an important process. I would recommend reading blogs from agents that live and work in the Big Bear area to get a feel for the agent that will best represent your interests. It would also be a good idea to check the agent’s client endorsements and reviews. Once you select your agent, I recommend communicating your list of wants and needs so that they can best serve you.

Every buyer wants to get a great deal, but great deals aren’t going to last long. Be ready to act quickly once you see the home that fits your needs and is priced like a deal. Be prepared to compete with other buyers, and often these homes will sell at or above the listing price.

Don’t forget to bring your checkbook!

March 28, 2010 Posted by | Big Bear Real Estate, Big Bear Real Estate Market, Homes for Sale in Big Bear, Real Estate | , , | Leave a comment

California Passes Home Buyer Tax Credit AB183

AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years. Under AB 183, purchasers will be required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state).

The positive impact of the federal home buyer tax credit is clear. Nearly 40 percent of first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered, according to C.A.R. research conducted last year.

The state’s previous home buyer tax credit program was so successful that it ran out of tax credits by the end of June 2009, eight months before it was set to expire and just as housing markets appeared to be turning a corner. Unlike last year’s legislation, AB 183 adds a tax credit for the purchase of an existing home by a first-time home buyer.

AB 183 will significantly contribute to the effort to stimulate jobs-creation within California’s housing market by helping to incentivize first-time home buyers to purchase homes that have been abandoned, foreclosed upon and returned to the lender, or have been sitting on the market for extended periods of time. It is these homes that will require substantial rehabilitation by the new owners, which will in turn generate a tremendous increase in jobs and accessory purchases connected to home improvement activities.

“Information provided by California Association of Realtors”

March 25, 2010 Posted by | Big Bear Real Estate, Real Estate | | 15 Comments

Cabin in Big Bear for Sale (Video)


Priced like a Bank Owned

Overview
Maps
Photos
Description
Market Stats
$179,900
Single Family Home
For Sale
Main Features
3 Bedrooms
2 Bathrooms
1 Unit
Interior: 1548 sqft
Lot: 8,322 sqft
Location
300 Bluebill
Big Bear City, CA 92314

Steve Hirschler Steve Hirschler

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

Listed by: Coldwell Banker

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March 22, 2010 Posted by | Bank owned in Big Bear, Big Bear Real Estate, Homes for Sale in Big Bear | , , , | Leave a comment

16 Homes Sold this Week in Big Bear 3/20/2010

Click here to see the details for these homes.

  • 9 of these homes (56%) were bank owned foreclosures, with average days on the market of 63.
  • 4 of these homes (25%) were short sales, with average days on the market of 292.
  • 2 of these homes (12.5%) were traditional sellers, with average days on the market of 67.

The ratio of closed short sales is the highest that I have seen this week. I don’t think this is a sign of things to come, just a coincidence….

Price differential is still holding high at 99.82% of list price. Overpriced properties are not selling. If you are a seller in this market, your list price is the most important thing that your agent provides to you. Don’t make the mistake of interviewing multiple agents and selecting the agent with the highest price, or lowest commission.

Steve Hirschler
DRE#01703081
Associate, The Tim Wood Group
Coldwell Banker
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
www.bigbearhomes.wordpress.com (blog)
www.stevesellsbigbear.com (website)
www.activerain.com/blogs/slhoo7\ (blog)
www.thetimwoodgroup.com/author/stevehirschler (group website)
http://twitter.com/stevehirschler (follow me)

March 20, 2010 Posted by | Bank owned in Big Bear, Big Bear Real Estate Market, Selling your home, Sold in Big Bear | , , , | Leave a comment

Big Bear Area 10 Year Residential Deed Recording History

Big Bear Deed Recordings YTD through February 2010 are down 11.6% from last year for the same period.  This is a small number considering the inventory is down to 624, close to 30% less than the approximately 900 units on the market last year at this time. It feels and looks like we will have a strong March, with 41 closed sales in the first 18 days. If you would like to discuss Big Bear Real Estate, please give me a call.

Steve Hirschler
DRE#01703081
Associate, The Tim Wood Group
Coldwell Banker
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
www.bigbearhomes.wordpress.com (blog)
www.stevesellsbigbear.com (website)
www.activerain.com/blogs/slhoo7\ (blog)
www.thetimwoodgroup.com/author/stevehirschler (group website)
http://twitter.com/stevehirschler (follow me)

March 19, 2010 Posted by | Big Bear Market, Big Bear Real Estate, Big Bear Real Estate Market, Sold in Big Bear | , | Leave a comment

Big Bear Home Sales By Category through 3/16/2010

Units Sold YTD

Days on the Market

Price Differential

Steve Hirschler

DRE#01703081

Associate, The Tim Wood Group
Coldwell Banker
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
www.bigbearhomes.wordpress.com (blog)
www.stevesellsbigbear.com (website)
www.activerain.com/blogs/slhoo7\ (blog)
www.thetimwoodgroup.com/author/stevehirschler (group website)
http://twitter.com/stevehirschler (follow me)

March 16, 2010 Posted by | Bank owned in Big Bear, Big Bear Market, Big Bear Real Estate, Big Bear Real Estate Market | , , , , | Leave a comment

In Big Bear, List Prices Can Be Deceiving These Days…


Steve Hirschler
DRE#01703081
Associate, The Tim Wood Group
Coldwell Banker
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.bigbearhomes.wordpress.com (blog)
http://www.stevesellsbigbear.com (website)
http://www.activerain.com/blogs/slhoo7\ (blog)
http://www.thetimwoodgroup.com/author/stevehirschler (group website)
http://twitter.com/stevehirschler (follow me)

March 13, 2010 Posted by | Big Bear Market, Homes for Sale in Big Bear, Selling your home | , , , | Leave a comment

60 Homes Sold in Big Bear this February 2010

ML # Price Address Area Bd Baths SF Apx Ttl Sold Price Sold Date
2100015 52,900 637 MERCED BLC 1 1 421 49,000 2/23/10
292386 54,900 595 VISTA SUGA 2 1 588 57,000 2/9/10
291670 57,000 44416 VALLEY VIEW LN. SUGA 2 1 738 50,000 2/17/10
292582 64,300 862 SAN BERNARDINO SUGA 1 1 408 61,000 2/24/10
2100021 70,240 755 SAN BERNARDINO SUGA 1 1 570 70,555 2/26/10
292278 75,500 708 W AEROPLANE BBC 2 1 940 73,150 2/2/10
292473 79,800 1091 PAN SPRINGS BBC 2 2 1038 102,000 2/2/10
290868 90,000 325 W COUNTRY CLUB BLVD BBC 2 1 570 90,000 2/11/10
292310 99,000 560 HIGHLAND BLC 1 1 868 95,000 2/5/10
291505 99,900 1121 W COUNTRY CLUB BBC 2 1 1080 85,000 2/3/10
291709 100,000 242 VISTA SUGA 3 1 952 94,000 2/5/10
291633 105,000 514 W BIG BEAR BLVD BBC 1 1.75 1064 60,375 2/23/10
290559 107,000 2164 7TH LANE ERWL 2 1 880 107,000 2/11/10
281685 109,000 129 W MOJAVE BLVD BBC 2 1 646 105,000 2/22/10
292460 109,900 2135 2ND ERWL 2 2 1040 106,500 2/16/10
292246 110,000 816 W AEROPLANE BLVD. BBC 2 1 896 77,500 2/8/10
292486 114,900 399 IMPERIAL SUGA 2 1 570 112,000 2/5/10
291952 116,900 586 SPRUCE SUGA 2 1.5 896 117,000 2/12/10
292290 118,700 781 W AEROPLANE BLVD. BBC 2 1 652 80,000 2/1/10
292370 125,000 42749 LA CERENA MOON 1 0.75 610 120,000 2/5/10
2100040 138,000 798 ORIOLE BLC 4 3.5 1728 146,100 2/19/10
292174 139,900 40156 HIGHLAND ROAD BLC 2 1 960 137,500 2/4/10
292567 144,800 612 BOOTH BBC 3 2 1200 155,000 2/19/10
292308 155,000 515 ELYSIAN BBC 2 1 816 155,000 2/26/10
292447 159,000 525 KERN SUGA 2 1 1100 159,000 2/12/10
292466 160,000 542 KERN SUGA 2 1 783 160,000 2/2/10
292376 160,900 404 BERNHARDT BBC 3 2 1080 157,500 2/26/10
292571 164,000 42742 WILLOW MOON 2 2.5 1138 160,000 2/5/10
291130 165,000 42769 LA CERENA MOON 3 2 1090 165,000 2/17/10
2100061 176,220 39263 N BAY BLW 2 1.5 1094 190,100 2/12/10
291968 179,900 40042 TR. OF WHISPERING PI BLC 3 2 1250 180,000 2/8/10
292367 185,300 616 KEAN BBC 4 1 1440 180,000 2/11/10
2100230 194,900 42929 ENCINO MOON 3 2 1040 194,900 2/12/10
292404 209,900 2308 STATE LANE ERWL 4 2 1680 193,000 2/19/10
280787 239,000 40195 GUINAN BLC 3 2 1632 239,000 2/17/10
291617 245,000 2159 MARIPOSA LANE ERWL 3 2.5 1730 245,000 2/18/10
2100066 269,900 782 MOUNTAIN SKY DRIVE BLE 3 1.75 1186 270,000 2/19/10
291010 269,900 1273 BALSAM DRIVE MOON 2 2 1142 250,000 2/25/10
2100132 279,900 42789 REDWOOD FOXF 3 1 1152 283,000 2/23/10
292039 285,000 44333 SISKIYOU LANE MOON 3 1 990 252,500 2/25/10
2100007 299,900 819 SILVERTIP MOON 3 2 1266 279,000 2/16/10
292292 313,900 46784 PIONEER TOWN BALD 4 2 2473 270,000 2/9/10
291313 329,000 41745 COMSTOCK  LANE BLE 4 2 1254 315,000 2/24/10
292279 334,000 791 RAYO BLW 2 2.5 1588 325,000 2/12/10
290794 349,900 1629 E BIG BEAR BLVD. BBC 3 2.5 2385 326,500 2/23/10
291735 369,900 39880 LAKEVIEW DRIVE BLC 3 2 1344 359,900 2/5/10
282420 399,900 471 VILLA GROVE MOON 4 3 1800 360,000 2/19/10
292471 400,000 575 VAIL BLE 4 2.5 2257 390,000 2/12/10
2100002 411,900 1100 JOHNNY FOXF 4 3.5 3580 500,001 2/11/10
291683 419,000 723 VILLA GROVE MOON 3 2 1708 391,250 2/19/10
290265 499,000 43827 YOSEMITE DR. MOON 4 3.5 2578 485,000 2/11/10
292198 499,900 943 D LANE ERWL 6 4 4486 459,500 2/16/10
282669 499,900 1277 BRUIN TRAIL FAWN 3 3.5 2800 475,000 2/12/10
290612 500,000 928 SAHUARO WAY MOON 3 2.5 2291 450,000 2/26/10
282342 550,000 42311 EAGLE RIDGE FOXF 3 2 2500 538,000 2/24/10
292359 699,900 39540 LAKE BLC 4 3.5 3263 699,900 2/1/10
2100030 699,900 1056 WILDERNESS DRIVE ERWL 3 3 2671 693,000 2/19/10
2100119 739,900 386 MEADOW CIRCLE BLE 3 3.5 2300 764,000 2/23/10
292574 764,800 323 STARLIGHT FOXF 4 3.5 3458 745,000 2/24/10
282772 999,900 38817 WATERVIEW DR. BLW 4 4 3095 1,000,000 2/19/10

Click here to see the details for these homes.

  • 40% (24) of these homes were bank owned.
  • 13% (8) were short sales.
  • 47% (28) of these were traditional sellers.

Real Estate is Local, Big Bear is a unique market!

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

Follow me on Twitter

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March 4, 2010 Posted by | Big Bear Market, Big Bear Real Estate, Big Bear Real Estate Market, Sold in Big Bear | , , , | 1 Comment