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Past 30 days there have been
58 closed escrows of homes through the Big Bear MLS.
19 of them were bank owned properties.
8 of the bank owned sold for over list price.
Bank owned properties are hot right now, they are priced to move fast and for the buyer that is willing to do some work, what a great buy. I have even seen some properties that have been purchased, fixed up and put back on the market. Let the flipping begin! This could be a sign...
I have a client who recently purchased a home in Big Bear and had paid cash for it with the intention of getting a small loan on it after the close of escrow (make the purchase a lot easier). He came to me the other day and said that his lender made the comment that, his house is currently on the market and they cannot give him a loan if the property is listed for sale. Well, that being said, I googled his address and found it listed on a couple of sites. The moral of my story is that if you are a buyer looking for property in Big Bear, or anywhere else on-line, just know that all the listing information may not be current.
