Brayton's Big Bear Blog

Sold Statistics for Big Bear Properties 2004-2009

Tax credits to make your wallet happy

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  Tax Credits for Solar Water Heaters

  A federal tax credit makes energy-efficient solar water heaters a more affordable and sustainable option for many homeowners. Read
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  Tax Credits for Replacing Heating and Cooling Systems

  Upgrading to an energy-efficient heating and cooling system can save hundreds on your utility bills and earn you a tax credit worth as much as $1,500. Read
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  Tax Credits for Replacing Your Roof

  Replacing your roof with a qualifying energy-efficient metal or asphalt roof can cut your cooling bill and earn you a $1,500 tax credit. Read
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  Tax Credits for Adding or Replacing Insulation

  A federal tax credit makes adding insulation an even cheaper way to improve your home’s energy efficiency and cut your heating and cooling bills. Read
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  Tax Credits for Replacing Windows, Doors, and Skylights

  If money seems to be escaping through drafty windows, doors, and skylights, this federal tax credit might make energy-efficient replacements more affordable. Read

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS

Save on energy costs

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  8 Easy Ways to Seal Air Leaks Around the House

  For what the typical family wastes every year on air leaks--about $350--you can plug energy-robbing gaps, start saving money, and enjoy a more comfortable home. Read

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  Save Money With an Insulation Upgrade

  Beefing up inadequate insulation is one of the quickest energy-payback projects you can do, resulting in lower heating and cooling bills and increased comfort. Read

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  7 Tips for Saving Energy with Home Lighting

  Lighting eats up as much as 20% of your annual electric bill, but using energy-efficient bulbs and making other simple changes can cut lighting costs dramatically. Read

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  Water Heaters: 5 Tips for Saving Energy

  Water heating accounts for up to 25% of household energy costs, but there are inexpensive things you can do to increase efficiency and reduce energy bills. Read

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  Low-Flow Showerheads: How to Choose

  Thanks to innovative new technology, today's super-efficient low-flow showerheads save water, reduce your energy bills, and still feel good to use. Read

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS

Yikes, that's a lot of snow on the roof!

I was showing property the other day and noticed this.

   

Not good. We did have one heck of a storm and there are roofs with 3+ feet of snow. The sun comes out during the day to melt just a little of that snow,  then freezes at night.  Now there is rock hard ice on the roof that when it slowly melts, and cannot drain off properly, can seep under the shingles and the weight may be too much for some older homes. It is not every winter that we see this but if your Big Bear home still has snow and ice on it, you may want to get up there with a shovel. I hired a local handy person and he got up on the roof and got rid of all that snow and ice.  I feel much better (especially if we get more snow) after all, it is only February.

Stats for sold properties in Big Bear, CA

Sold properties for September, October, November, December 2009
and January 2010 for residential properties in Big Bear MLS

# of listings sold
September 94 (34 are bank owned)
October 94 (31 are bank owned)
November 90 (28 are bank owned)
December 77 (26 are bank owned)
January 57  (27 are bank owned)

Average Selling Price per Sq. Ft.
September $155.67
October $184.66
November $165.64
December $178.09
January $151.83

Average Number of Days on Market (How many days until accepted contract)
September 111
October 137
November 143
December 148
January 127

Average percentage of sold price compared to list price
September 96%
October 96%
November 95%
December 95%
January 94%

Did you buy your first home in 2009? Home buyer credit

Form # 5405 from IRS

Above is the link to the pdf of form #5405 that all eligible homebuyers must send in with 2009 tax return. You must also include one of the following with your return.

A copy of the final settlement statement showing all parties' names and signatures, property address, sales price, and date of purchase. Also known as a  Form HUD-1, Settlement Statement.

• For mobile home purchasers who are unable to get a settlement statement, a copy of the executed retail sales contract showing all parties' names and signatures, property address, purchase price and date of purchase.
• For a newly constructed home where a settlement statement is not available, a copy of the certificate of occupancy showing the owner’s name, property address and date of the certificate.

As always your tax professional is a good source for tax questions

 

Stats for sold properties in Big Bear Lake

Sold properties for August, September, October, November and December 2009
for residential properties

# of listings sold
August 76 (25 are bank owned) 
September 94 (34 are bank owned)
October 94 (31 are bank owned)
November 90 (28 are bank owned)
December 77 (26 are bank owned)

Average Selling Price per Sq. Ft.
August $167.99
September $155.67
October $ 184.66
November $165.64
December $178.09

Average Number of Days on Market (How many days until accepted contract)
August 127
September 111
October 137
November 143
December 148

Average percentage of sold price compared to list price
August 94%
September 96%
October 96%
November 95%
December 95%

Kids say very funny things!

I had a buyer sitting in front of me with her young son and she was commenting on the fact that they really need a get-a-way home in Big Bear Lake. They want to be in the mountains and let the kids run around in mother nature. The words were still hanging in the air when her son said, "Look out the window mommy, I just saw a monkey outside". This gave her an opportunity to mention again that they need a get-a-way as her son thinks that the squirrels are monkey's.

Have you lost your perspective? Do you need a get-a-way?

View Get-a-way's (properties) that are for sale

Homebuyer Tax Credit Changes

This is a chart that explains the new tax credit for home purchases.

Download Tax credit chart

Big Bear Real Estate Update - Tax Credit Extension

 

The tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline.  First-time home buyers will continue to receive a tax credit of up to $8,000, while existing homeowners will receive a credit of up to $6,500.  Existing homeowners will be eligible for the $6,500 if they have lived in their current residences for at least five years.  The bill also will increase the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to $125,000 and $225,000, respectively.  The purchase price of the home is capped at $800,000.

Under additional provisions in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The bill maintains the provision that home buyers do not have to repay the credit, provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order.

For weeks, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R and its members have urged Congress and the U.S. Senate to extend and expand this crucial piece of legislation.

Nationwide, more than 1.4 million first-time home buyers were given the opportunity to become homeowners as a result of the Federal Tax Credit for First-time Home Buyers.  According to C.A.R. research, nearly 40 percent of first-time home buyers surveyed said they would not have purchased a home without the federal tax credit, and approximately 70 percent said the tax credit was "the most important" or a "very important" factor in their decision to buy a home.