Brayton's Big Bear Blog

August Sold Data for Big Bear Properties

You may be thinking, "why is August data coming out so late?" I have found that when I wait until about the 5th or 15th of the month to get the previous month's data, there are still some closed escrow's that have not yet been reported. Sales are supposed to be reported within 3 days of the close of escrow. With that being said, I will wait a little longer in the month so I can hope to get a truer picture of the stats.

So here is what August looks like when compared to June and July.

# of listings sold
June 79 (26 are bank owned)
July 87 (30 are bank owned)
August 76 (25 are bank owned) 

Average Selling Price per Sq. Ft.
June $183.28
July $168.30
August $167.99

Days on Market (How many days until accepted contract)
June 124
July 133
August 127

Average percentage of sold price compared to list price
June 96%
July 95%
August 94%

Beautiful day for a run/walk in Big Bear Lake, CA

Today was the 3rd Annual 1st Lt. Jared Landaker Memorial Run For Freedom. It was held at Snow Summit and included a 5K, 10K, 15K, and 1 mile family fun run. The course goes through Moonridge and loops back to Snow Summit parking lot. To learn more about The Seven Stars Foundation Click Here

A Wilderness Retreat

Buying Bank Owned Property

My client who is in a contract with a bank owned property offered $120,000 cash, 2 week escrow that was listed for $125,000 and was on the market a little over 30 days.

The banks response was $121,000 AND the buyer to pay the BANK'S (seller) escrow and title insurance fee. Sweet deal for the bank. The bank would have helped with the closing costs IF the buyer obtained a loan to buy the property rather than cash.

I guess because a buyer is responsible with her money and is able to pay cash, then she should be penalized. Then, to rub a little more salt in the wounds... we get the bank addendum which says there will be verbiage in the deed that says the buyer may not sell the property for 3 months for a price over a certain amount OR put a loan on it for over a certain amount for 3 months. All of this from an organization who wants to make home ownership easier and available to more people???

Homebuyer tax credit

The $8000.00 first time home buyer tax credit will end December 1st that means if you qualify for the credit you must close escrow by November 30 (about 2 1/2 months from today).

Time is running out and the interest rates are low and home prices are down. Wherever you are, if you can take advantage of it, it is time buy your own place. Ask you accountant about any other tax credits that go along with being a homeowner.

Will this tax credit be extended? There is some talk about it, but don't get caught short in case it isn't

Big Bear Marathon was a success!

Although I only ran the 5K today, I have to say the organizers did a wonderful job. The traffic was not  impacted like last year and it seemed every detail was well thought out! See you next year.

Marathon

Big Bear Marathon is almost here... This Saturday is the big day. Road closures may cause a traffic challenge if you are planning a trip to Big Bear. This is a link to the Marathon website which includes the closures and information if you want to join the run. There is also a bicycle race, 5K and Half Marathon as well as a Kid's Run.

What to do in Big Bear For September

Another month of something for every weekend in Big Bear

Download Events for September2009