Big Bear Lake Foreclosure Data and Trends

 

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.

What is the Best Source of Information on Big Bear Real Estate?

New Bank Owned Homes in Big Bear Under $150,000

Click here to see the details and additional photos of these new bank owned homes in Big Bear

Please give me a call if you would like to schedule a showing for any of these Big Bear homes.

Steve Hirschler / Coldwell Banker “The Tim Wood Group”

909 725 5889

5 New Bank Owned Homes in the Big Bear Area.

I preview all 5 of these homes this week.

• 41770 Tanager is in a nice location with easy access to the grocery stores, restaurants, and ski slopes. It was built in 1977, and the interior still feels that age. Lots of square footage, and a large lot make this home an appealing choice for buyers looking for a deal. At the list price this home is $116 a square foot in Big Bear Lake East.
• 843 Orange sits in a beautiful location in Sugarloaf. This home has recent upgrades and is steps to the National Forest. The home needs a little TLC, but with 2580 sq ft for only $229,900, it is priced at only $89 per foot.
• 508 Kean is a great find. This home sits high on the hill and has tree top views. The 2 car detached garage is oversized. The homes has 2 bedrooms, but the downstairs den could be split to allow for an additions bedroom space if desired. I don’t expect this one to last long. I sold this home to the previous owner for $310,000 in May of 2007.
• 42736 Peregrine is in lower Moonridge near the base of Bear Mountain Ski area and the Bear Mountain Golf Course. This home is a cosmetic fixer.
• 1340 Shay is a rare find for buyers looking for a low priced bank owned with a nice size lot. Carpet, small improvements, and some sweat equity could pay off big with this opportunity home.

If you would like to discuss Big Bear Real Estate, or schedule a showing for any of these homes, please give me a call.

Thanks!

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.thebigbearrealtor.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)
www.thebigbearrealtor.com/client-endorsements/
www.facebook.com/profile.php?id=652023432&ref=profile&v=info

CALIFORNIA’S TAX CREDIT MONIES MAY GO FAST

The $100 million allocated for California’s first-time homebuyer tax credits may be depleted in about 10 to 20 days or sooner, according to C.A.R.’s Economics team.  California’s Franchise Tax Board (FTB) plans to begin accepting applications on May 1, 2010 for tax credits up to $10,000 for first-time homebuyers and for homes that have never been previously occupied.  However, the total tax credit allocation for all taxpayers is $100 million for first-time homebuyers and $100 million for new homes, both on a first-come, first-served basis.

C.A.R.’s forecast of 10 to 20 days to deplete the $100 million allocation for first-time home buyers is based on estimated May sales figures and other parameters.  It does not take into account the possibility that buyers scheduled to close escrow in April may delay closing until May to take advantage of the tax credit.  If a shift in closings from April to May occurs, the first-time homebuyer tax credits may be depleted even more quickly than indicated above.

Applications for the California tax credit must be faxed to the FTB after escrow closes.  The FTB will update its website when the 2010 application form and other information become available.

REALTORS® are reminded not to give their clients any tax or legal advice, such as the availability of funds under the California tax credit program.  Agents should encourage their clients to seek specific advice from an accountant, attorney, or other professional as they deem appropriate.

For more information, please refer to C.A.R.’s Homebuyer Tax Credit Chart 2010 .

Information provided by “California Association of Realtors”

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

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

Our recent listings Great Value! Gold Crown Hallmark Store Mountain Get A Way Lots and Lands for $109,900 in Big Bear City, CA Affordable Cabin in the Mountains Subscribe to our listing feed

See more Big Bear City, CA real estate for sale

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)

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)

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)

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

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