April 2017 “Sold” and “Pending/Back-up” Properties Lists/Happy Mother’s Day!!

Hi folks!
After receiving our annual “Mother’s Day snow” this past Sunday (the early May/late season snow that we receive almost every year), the weather is warming back up to match the housing market.  Late April was unseasonably warm (both the weather and the market).  Part of this appears to be caused by the increasing pace of the housing market, but some it can also be attributed to the mid-April announcement that our local resorts (and Mammoth) are being purchased by Aspen, which has created a lot of buzz about future appreciation and improvements.  Over-all, there were over 300 properties sold or in escrow for the month of April!!

Here’s a link to the Mother’s Day Weekend edition of What’s Up at 7000ft.  This weekend’s highlights include several Mother’s Day Brunches, Baldwin Lake Ecological Reserve Guided Wildflower Walks, and “Queen Nation: A Tribute to Queen” at The Cave.  For next week, don’t forget the May 19th Time trial for Amgen’s Tour of California Bike Race.

Have a great weekend and a fantastic Mother’s Day!!

March 2017 Big Bear Real Estate Stats/Aspen Acquisition!!

Hi folks!
Here are last month’s single family residence statistics for the Big Bear area.  As usual for the last month of winter, the emphasis was closer to the slopes and the $/sqft in Moonridge jumped to almost $260/sqft! There were 4 shallow-water lakefronts that sold (great news, since that particular sub-category hasn’t moved much until the Lake went up 5-6ft this winter); but that is why the BBL-lakefront category was a little lower than usual and Fawnskin was higher than usual.
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC34$254,854$189.3698.0%121
BBL-general15$292,467$223.5896.5%130
BBL-lakeview 2$774,950$247.5597.5%227
BBL-lakefront 3$686,667$388.2294.5%261
FAWN 2$342,500$290.6793.0% 45
FOX10$557,700$207.4394.5%162
MOON16$358,081$257.0998.5%130
SUGA15$201,960$171.7397.2% 99
As you probably heard, Aspen/KSL opened escrow to buy Mammoth Resorts last week, which means our local resorts are going to be part of the Aspen family!  This is HUGE news for anyone invested in or thinking about investing in Big Bear real estate.  The growth over the last two years since Mammoth bought our local resorts has been impressive, but this could be game-changing! I attended the town hall meeting at Bear Mountain last night and they are expecting the escrow to take about 4 months.  In the meantime, they are planning on continuing expansion and increasing summer activities, including the new zipline, which they are expecting to open Memorial Day weekend. As noted by Rusty Gregory, chairman and CEO of Mammoth Resorts, in the article below “We already had an aggressive capital improvement plan [for the two San Bernardino resorts, and] as the newly formed organization is fine-tuned, that investment plan could accelerate”.

Bear Mountain, Snow Summit ski resorts purchased by joint venture in a 4-resort deal

Have a fantastic weekend!!

March 2017 Big Bear “Sold” and “Pending” Properties/HGTV Link

Hi folks!
Here are last month’s lists of “sold” and “pending/back-up” properties.  Sales in the first month of Spring continued to be very strong and were especially high, given the historically low inventory.   In total, there were over 300 properties either sold or in escrow!
If you didn’t have a chance to watch our latest episode of HGTV’s “Log Cabin Living”, here’s a link where it can be viewed on Youtube for only $1.99.  The crew did a fantastic job of showcasing the cabins, as well as our beautiful town and Village!
Have a great weekend!

February 2017 Big Bear Stats/Moonridge Improvement Project/New HGTV Show

Here are the Big Bear real estate stats for February 2017.  Although it was a short month, the number of sales remained relatively high.  As usually happens at this time of year, there were significantly more sales closer to the slopes than closer to the Lake (the $/sqft on the one lakeview property was considerably lower than normal because it was a very large home – almost 5000sqft).
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC21$288,532$193.5496.5% 74
BBL-general14$427,402$231.3796.0%116
BBL-lakeview 1$799,900$168.97100% 60
BBL-lakefront N/A N/A N/A N/AN/A
FAWN 2$220,000$148.5691.8%190
FOX 2$422,500$223.5198.6% 34
MOON14$381,986$232.7197.6% 54
SUGA 8$155,050$156.6196.6% 83
As many of you know, there are a lot of very exciting planned improvements in the Moonridge area, in addition to Mammoth’s plans for the resorts.  Here’s the most updated info on the scheduled improvements in Moonridge, including the improvements along the Moonrdige corridor and the new Rathbun Creek Hiking and Biking Trail.
Finally, we recently filmed another HGTV show in Big Bear Lake and it is airing this Saturday, March 18th.   Here’s more information on the episode, which airs at 8:30pm PST on Dish Network, but at different times on DirecTV and cable, so please check your local listings for tune-in times:
Have a great week!

January 2017 Big Bear “Sold” and “Pending/Back-up” Properties/NEW SEARCH FORMAT

January officially went down as the snowiest January on record up here (surpassing the previous record in 1979) and the record snow has brought record crowds.  That’s not great news for traffic, but it’s fantastic news for vacation rentals, the lake level (up 30″ already!), real estate sales, and prices.  Last month there were 100 properties sold and another 166 in escrow.  That brings us down to less than a 4-month supply with only 322 Single Family residences left on the market!!  That’s the lowest number we have seen in at least 10 years!!! Below is the latest average sales price graph for Big Bear Lake going back 10 years.  The last 12 months have shown a significant increase in average sales price and an approximately 11% year-over-year increase in median sales price.  At this point, we’re a little over half-way back between the bottom of the market in 2011 and peak prices in 2006-2007.

Matrix stats

As I mentioned in my previous email, Big Bear recently changed MLS providers and, in order to prevent any appearance of spam, buyers need to click on the original “Welcome email” or they will not receive additional listing emails.  In addition, you need to click on listings at least once every 90 days (we got them to increase that from 30, at least), in order to keep your search active.  If you have not seen the new “Welcome to the Portal” email or if you have stopped receiving listings, please check your “junk” or “spam” folder to make sure that they didn’t go there.  You might also want to add *.matrixemailer.com to your safe sender list to avoid Matrix emails from being caught in spam. If you still don’t see them, please let us know and we will make sure to re-send the welcome email manually.

December 2016 Big Bear Real Estate Stats/New MLS

We made it through another holiday weekend and, so far, it’s been the busiest winter season we can remember up here!  Between the changes made by Mammoth and the great snowfall we’ve gotten so far (not to mention the additional 2-4ft we’re supposed to get by next Tuesday) the number of visitors has dramatically increased.  More visitors always bring more business and there were 123 sales last month and another 170 in escrow.  A large number of those sales occurred closer to the slopes and the average $/sqft in Moonridge jumped to over $250/sqft!!
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC26$254,189$184.4098%114
BBL-general12$296,625$235.9097%123
BBL-lakeview 4$443,250$251.78100%236
BBL-Lakefront 1$852,000$562.17 92%185
FAWN 4$211,000$195.80 90% 79
FOX 4$693,750$245.35 97%376
MOON29$331,665$251.26 97% 97
SUGA16$157,537$172.54 97% 97
The Board of Realtors up here just changed MLS providers, so you may have noticed that you either stopped getting search results or are getting them in a different format,  This new MLS has a lot more restrictions (number of clients, number of results, number of auto emails, etc); so if you are no longer getting results or you would like us to tweak your search, please let us know.  In addition, to avoid spam, this new MLS requires the client to open the first “Welcome to the Portal” email and to log in at least once every 30 days or it automatically discontinues your search.  There are definitely going to be some growing pains for all the realtors up here when it comes to this new MLS, so please don’t hesitate if you want us to re-activate your search or make any changes.  In addition, there are some nice improvements, like market updates and a new link where you can do your own searches at any time:  http://bigbearrealestate.bbv.mlsmatrix.com
 
Have a great weekend!!

November 2016 Big Bear Stats/What’s Up for Christmas Weekend

Hi folks!
We got a little fresh snow this weekend and the resorts are already packed!  As always happens at this time of year, the number of sales increases around the ski resorts and drops off closer to the Lake.  In addition, the inventory has dropped to only 426 single family residences already, so it’s on track to reach a record low by the end of the winter season.  Just a quick heads-up that the Big Bear MLS is in the process of transition to a new provider and contacts/searches are in the process of being migrated over, so if anyone’s searches stop sending out emails in the next couple of weeks, please give us a call or email, in case we need to manually re-add any that don’t get switched over automatically.
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC28$232,886$191.3598%92
BBL-general15$307,966$213.9096%124
BBL-lakeview 2$722,500$213.2094%139
BBL-Lakefront 2$993,500$370.6091%481
FAWN 1$725,000$205.5096%172
FOX 7$488,671$215.4098%123
MOON27$321,544$210.9797%117
SUGA19$172,752$165.2596%129
Here’s a link to this week’s “What’s Up at 7000ft”, which includes several Christmas/Santa-related activities, along with businesses and restaurants open on Christmas Day
Have a very Merry Christmas and Happy Holidays!!

September 2016 Big Bear Real Estate Stats/What’s Up for Halloween Weekend

Here are last month’s stats for Big Bear real estate in terms of single-family residences (cabins and homes).  As normally happens in the fall, attention starts turning toward the areas around the slopes (Summit Estates and Moonridge), so it’s a great time of year to buy closer to the Lake (or list closer to the slopes)!
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC22  $200,150$166.4595%108
BBL-general21  $333,728$230.9996% 96
BBL-lakeview 3  $345,420$271.6897%108
BBL-Lakefront 1$1,050,000$380.5791%120
FAWN 7  $264,500$234.2095%  73
FOX12  $500,741$246.4297%121
MOON23  $339,884$238.4797%102
SUGA20  $167,415$171.8097%106
Here’s a copy of this week’s edition of “What’s Up at 7000ft”.  For the Halloween weekend, highlights include the final day of the year for Oktoberfest, Trick or Treat Day at Alpine Zoo, and Halloween in the Village on Monday!!
Have a great weekend and a safe and Happy Halloween!!

September 2016 Big Bear “Sold” and “Pending/Back-up” Properties

Here are last month’s lists of “sold” and “pending/back-up” properties for the month of September. Sales remained strong through September and the number of new listings is balanced out by sales, so the inventory remains about the same as last month at 540 single family residences.
120 Sold:
184 Pending/Back-up:
Here’s an excerpt from a recent article in the Business section of the OC Register about second homes in Big Bear and recent improvements from the Mammoth acquisition:
“Home sales in Big Bear have risen dramatically in the past decade, nearly doubling from a low point eight years ago. In 2008, 472 homes sold between January and August, compared with 810 for the same time period this year, according to a CoreLogic analysis of four area ZIP codes.  The median price – the midpoint of all sales – for the eight- month period was $310,00 in 2007 and fell to a low of $160,500 in 2012. This year it was at $243,500, up 13.5 percent from the same time in 2015.”
Finally, here’s a link to this week’s edition of “What’s Up at 7000ft”.  This week’s highlights include the ongoing 45th Annual Big Bear Lake Oktoberfest, Flashlight Safari at the Big Bear Alpine Zoo, and Mountain Bike Ride to Pioneer Town.
Have a great weekend!

August 2016 Big Bear Real Estate Statistics/What’s Up this weekend

As temperatures start to cool, the inventory has fallen to 551 Single family residences already.  That’s about a 10% drop from the peak a month ago. That makes this the last chance of the year to buy a property while there are still a relatively good number of choices and get it on a rental program by Thanksgiving.  Sales and prices remained strong for the last full month of Summer.  The only real exception is the one lakeview property that was on the market for 9 months.  It was located on a dirt road/driveway off of Edgemoor and had a very disjointed “two different houses stuck together” feeling because of a bad addition, so it sold for much less than a “normal” lakeview property.
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC 29$236,233$185.4198% 81
BBL-general 15$385,460$256.8195% 79
BBL-lakeview  1$320,000$149.6795%270
BBL-lakefront  0NANANANA
FAWN  3$286,600$210.3698% 55
FOX 11$434,363$228.7997% 76
MOON 16$406,662$247.7598% 85
SUGA 10$174,240$189.6596% 43

 

Here’s a link to this week’s edition of “What’s Up at 7000ft”. This weekend’s highlights include the second weekend of the 46th Annual Big Bear Oktoberfest, the Kodiak 100 Ultra-marathon, and Aaron’s Big Bass Fishing Tournament.
Have a great weekend!!