A Monthly Review of the Big Bear Real Estate Market

Any story can be another story altogether. Many experts feel the U.S. economy has turned the corner due to positive indicators in the housing market. Overall residential construction supposedly jumped 23 percent (annual rate) last quarter, the first gain in nearly four years and the biggest since 1986. However, a separate report showed the sales of new homes unexpectedly tumbled in September, the first drop in over six months.  Recently, a panel of economists from across the country overwhelming agreed the   severe recession that started over two years ago has come to an end.  According to the panel’s findings, the Inland Empire home prices rose 5.53 percent from a year earlier surprising most economists. Later in the same report it read; “After experiencing the sharpest decline in history, the median price of existing homes in California will begin a modest rebound next year”. So have we hit bottom or not?

Still uncertain, however, is whether a new rush of foreclosures could topple the housing market once again. A reporting agency indicated foreclosure filings for the Riverside-San Bernardino-Ontario market had the sixth-highest foreclosure rate in the nation (one filing for every 30 homes). Where will those buyers continue to come from? Why is the refinancing trend that’s sweeping the nation not catching on in California? What happens when the government runs out of money? After all, the Fed has been purchasing mortgage-backed securities to ease borrowing costs and the central bank plans to buy $1.25 trillion of securities through the end of March. No takers on Wall Street so let the taxpayers take all the risk. This week, Bernanke will likely repeat his promise to keep interest rates very low for an “extended period”. But what happens if interest rates begin to creep up as many experts predict?

No reason to panic. I guess we just keep a positive attitude and remind ourselves it will be our future young people that will have to deal with this mess. They won’t know anything different because, if left to our experts, “any story can be another story altogether”.  Until next month...

Mike Dolan

Big Bear’s Leading Realtor

 # 8 Prudential Agent Award

 7 time PREA 100 Award

 11 time Diamond Circle Award

 2 time 5 Year Legend Award

(909) 866-6453

mikedolan@bigbearproperties.com

Mikedolan.com

DRE License #  00752899

           The Big Bear Report

 August 2009

A Monthly Review of the Big Bear Real Estate Market

Buyer activity in the Big Bear real estate market is showing signs of strengthening. Although typical for this time of year, both pending" and "closed" sales increased last month in nearly all sectors of our market. While land sales and commercial business    opportunity demand remain sub-normal, residential sales under $400,000 are the sector of the market that is getting the majority of attention. We are finding more and more sales coming from multiple bidders on bargain priced properties that push lower offers  upwards, thus creating a "bidding war". Multiple offers usually  signify a market in which prices are rising and buyers outnumber sellers. When the buying public perceives there are people fighting for a property, that's good for increasing demand. Regardless if it's a bank related house or not, if it's in a good area, is maintained properly and is well priced, it will attract more buyers. However, given the rampant foreclosures and low demand on higher priced homes, I feel we are not out of the woods quite yet.

Last week we have seen and heard several reports indicating we may have finally hit bottom in the housing market. Although some skeptics believe the market is "just catching its second wind" before prices decline even further, the National Association of Realtors (NAR) reported sales of new homes nationwide increased last month by the largest percentage in eight years. With the median price range in the housing market appearing to stabilize, even Greenspan feels he's "pretty sure we have already seen the bottom".

I try and maintain an attitude of optimism because I must. I'm in an industry that's performance driven. My compensation is earned when all the time and hard work is already extended.I owe it to my family, my employees and my clients to "stay between the lines" so I don't go "nutty". Like I tell my agents and staff, "keep riding your horse in the direction it's pointed". Rest assured we are going to get through this economic debacle.

Until next month.

Mike Dolan

Big Bear's Leading Realtor

   # 8 Prudential Agent Award

   7 time PREA 100 Award

   11 time Diamond Circle Award

    2 time 5 Year Legend Award

(909) 866-6453 (Office)

(909) 936-6453 (Cell)

mikedolan@bigbearproperties.com

Mikedolan.com

DRE License #  00752899

"The Locals' Choice"

If you always do what you've always done, you'll always get what you always got.

The Big Bear Report

A Monthly Review of the Big Bear Real Estate Market

 July 2009

For the first time in 10 months, the median home price in Southern California did not decline. The result of combining record low interest rates and the sharp decline in overall sales have given some real estate "experts" an indication that we may be close to hitting bottom. As I've mentioned in previous reports, no one can predict the bottom until we are on our way up.There are just too many variables, especially with the current administrations illusion on capitalism.

My personal observation (along with many "down-the-hill" brokers) is that sales activity at prices below $500,000 has really picked up, but that the $500,000 and up range is very soft right now. A significant factor that affects our ability to attract "upper end" prospects to areas like Big Bear and Lake Arrowhead is our regional county loan limits. San Bernardino may be the largest county in the country but we have the lowest of the conforming loan limits available, currently $417,000. Orange and Los Angeles counties are currently $729,750 and San Diego's conforming loan limit is $697,500. Perhaps we will see a "trickle" up effect as sales continue to pick up in the lower ranges.

If you think about it, the "buying public" is in the midst of a perfect storm. With the likely possibility of inflation rearing it's ugly head, it's important to remind any investor that real estate has always proven to be the best hedge against inflation. This makes investing a much more serious strategy than at any time since the depression.

Short sales and bank owned property will likely remain a fixture in the coming months and may continue to be the driving force behind keeping the median home prices soft. However, not all prospective buyers today are attracted to the inherent risk and inconveniences of buying a "bank controlled" property. 

Unfortunately, it seems our personal economic survival is no longer based on the work ethic, but rather recognizing that our current administration wants to reward mediocrity at the expense of the ambitious. Until next month...

Mike Dolan

Big Bear's Leading Realtor

   # 8 Prudential Agent Award

   7 time PREA 100 Award

   11 time Diamond Circle Award

    2 time 5 Year Legend Award

(909) 866-6453 (Office)

(909) 936-6453 (Cell)

mikedolan@bigbearproperties.com

Mikedolan.com

"The Local's Choice"

It's a good thing we don't get all the government we're paying for. Will Rogers

HOME ON THE RANGE

IMMACULATE 4 BED, 3.5 BATH SINGLE STORY RANCH STYLE WITH FORMAL DINING, KNOTTY PINE CABINETRY, VAULTED CEILINGS, 2 FIREPLACE'S, 1,500 SQ. FT. SHOP WITH OFFICE (OR OVERSIZE DETACHED GARAGE) 3 STALL MARE MOTEL WITH BIRTHING STALL & TACK ROOM, EXTENSIVE IRRIGATION SYSTEM, 60' ROUND PEN, FULL DRESS ARENA, FRUIT TREES, BUNK HOUSE ALL ON VINYL FENCED 2.41 ACRES WITH WELL.

$569,000

To schedule a showing of any property in Big Bear. Please don't hesitate to contact me.

Mike Dolan

Big Bear's Leading Realtor

   # 8 Prudential Agent Award

   7 time PREA 100 Award

   11 time Diamond Circle Award

    2 time 5 Year Legend Award

(909) 866-6453 (Office)

(909) 936-6453 (Cell)

mikedolan@bigbearproperties.com

Mikedolan.com

Prudential Properties of Big Bear

 "The Locals' Choice"

June 2009

The Big Bear Report

 A Monthly Review of the Big Bear Real Estate Market

As we "sell off" the future of our children we continue to enable all 545 policy makers (Government Representatives and Bureaucrats) to use our tax dollars (known as public funds) to protect bond-holders for their confidence in some of the most mismanaged  companies in our nation's history instead of allowing them to take losses that were clearly their own.

Most "career" Realtors from across the country are finally getting fed up with all the doom and gloom of daily economic  reports that confuse the buying and selling public. Industry insiders have had enough of the uninformed and misdirected financial press and "we're not going to take it anymore". Our industry has always recognized that real estate is both a neighborhood and relationship business and it's time to get  buyers back in the game. However, it's going to take more effort from the buyers. They must realize if they are trying to time the bottom of the market they may see an increase in mortgage rates which negates their over all investment.

Over the past decade, most lenders were complacent and did not require proof of income or documentation. It was all about FICO scores and whether you could "fog a mirror" in order to get a loan. Nowadays, like in the 1980's and ‘90's, borrowers are required to provide evidence of their ability to repay their loan. They must provide pay stubs, bank statements, verification of deposits and even tax returns. During my first 20 years of selling in Big Bear, this was the normal sequence of events.

 For sellers, the order of the day is "price reductions". I routinely convince sellers that reducing their price today could actually net them more money in the long run. Besides saving the "carrying costs" over the next several months, as values continue to slide, converting your real estate equity to cash can provide you the opportunity to make an investment that would surely make up for any loss you think you would lose otherwise. In today's economic climate, survival requires the willingness to accept the change in the way we conduct our business. I will remain relentless in my effort to attract prospects while keeping you informed.

Until next month.

Mike Dolan

Big Bear's Leading Realtor

   # 8 Prudential Agent Award

   7 time PREA 100 Award

   11 time Diamond Circle Award

    2 time 5 Year Legend Award

(909) 866-6453 (Office)

(909) 936-6453 (Cell)

mikedolan@bigbearproperties.com

Mikedolan.com

License: 00752899

 "The Local's Choice"

"My father didn't tell how to live; he lived, and let me watch him do it".

Events at the Discovery Center

Friday, May 22
 Fee: $25 adults, $15 children (6-12).

· Canoe Tour; 4pm-6pm.

• Campfire ~ Summer Astronomy Series; 8pm - 9:30pm. Join Dr. Frank Murray, Randy Fear from the Big Bear Solar Observatory, and Tim Baggerly from the High Desert Astronomical Society will start the night with a short presentation around the campfire about the solar system, stars, planets, moons and nebulas. Following the presentation you will get a chance to view sky objects through high powered telescopes. The summer astronomy series is scheduled around the star calendar, so you'll always get a chance to see something new! Sponsored by California Land Management. Fee: $5, children 5 & under Fee!

 Saturday, May 23
Join the local fire departments and find out how to kick off summer in a fire safe way. Information on fire preparedness will be available and activities for the whole family. Free!

· Fire Safety Summer Kick-Off; 10am-2pm.

 · Kayak Tour; 9am-11am.

 Fee: $30 per person, ages 10 & up

· Gold Panning; 11am-12pm.

· Map & Compass; 12pm-1pm.

· High Flying Rockets; 1pm-2pm.

· Nature Walks; 1pm & 2pm.

· Canoe Tour; 4pm-6pm.

· Music in the Mountains ~ The Ramblin' Rangers; Bluegrass & Folk, 7pm

05/23/09
Snow Summit Scenic Skychair
Open for sightseeing and mountain biking; weekends through June 20, then daily. Snow Summit (909)866-5766

Antique Car Club Show and Pinewood Derby
Citibank
(41969 Big Bear Blvd., Big Bear Lake) 8:00am to 3:30pm Free spectating
(909)584-4333

Sunday, May 24
 Fee: $25 adults, $15 children (6-12).

· Canoe Tour; 9am-11am.

 · Gold Panning; 11am-12pm.

Come learn how to pan for gold! Children will learn the process of gold panning, using real panning equipment. The "gold" is pyrite, and children can take home their findings along with an informational handout and a certificate! Fee: $3

· Nature Walks; 11am & 12pm.

· Junior Forest Ranger; 1pm-2pm.

· Pinecone Birdfeeders; 12pm-2pm.

Monday, May 25
• Canoe Tour; 9am-11am.  Fee: $25 adults, $15 children (6-12).

05/25/09
Memorial Day Service
With color detail, music, wreath presentation. Veteran's Park, Big Bear Lake 10:00am (909)585-4045

To schedule a showing of any property in Big Bear. Please don't hesitate to contact me.

Mike Dolan

Big Bear's Leading Realtor

   # 8 Prudential Agent Award

   7 time PREA 100 Award

   11 time Diamond Circle Award

    2 time 5 Year Legend Award

(909) 866-6453 (Office)

(909) 936-6453 (Cell)

mikedolan@bigbearproperties.com

Mikedolan.com

Prudential Properties of Big Bear

 "The Locals' Choice"

Get your Lakefront home befor the summer. Here is a list of just some of the fabulous homes available.

Price Is Right Lakefront

Nearly 2,000 sq. ft. in this charming 4 bed, 2 ½ bath 2 story lakefront chalet with 2 rocks fireplaces cozy den or spacious dining room, low maintenance vinyl siding, extensive redwood decking and spectacular lakeview all with boat dock. $649,900

Double Your Pleasure

Main home includes a furnished 3 bed, 2 bath single story w/granite counters, extensive decking, boat slip and incredible lakeviews all with separate, detached 1 bed, 1 full bath guest home w/laundry and 2 car garage all on a level 10,175 sq. ft. lot walking distance to the village (zoned R-3). Subject to short sale approval. $ 990,000

Lakefront Special

Wait till you see the setting, design and view of this centrally located 4 bedroom, 3 ½ bath, lakefront home with family room loft, wet bar, vaulted ceilings, 2 fireplaces, granite counters, oak cabinetry, spacious dining room, 2 jetted tubs, double garage, dock rights, 440 sq ft in decking all on a huge 19,000 level lot with beautiful views. $1,195,000

Eagle Point Lakefront on Sale

Way below market in this 4 bed, 3 bath classic woodsy mountain lakefront with approx 3,529 sq ft double lofts, cozy den, 3 f.p's, formal dining, extensive patio & decking, big beam construction, outdoor spa, double dock slips, spectacular lake & ski slop view, outdoor spa and double detached garage all on over a third of an acre. ($75,000 net vacation rental income) $1,395,000

Deep Water Lakefront

Built in 2001, this incredible 3 bed, 3 bath "Tudor" includes library-office, 3 fireplaces, huge vaulted ceilings, spacious loft, granite counters, state of the art gourmet kitchen, impressive master suite, steam shower, jetted tub, extensive sealed decking, oversized garage and more. $1,350,000

Spectacular Lakefront Location.

New Boulder Bay Lakefront

Built in 2007, this huge 4 bed, 6 bath furnished lakefront includes, game room, media room, office, formal dining, gourmet kitchen, pro series stainless appliances, granite counters, wine cellar, cathedral ceilings, extensive decking, boat dock, attached garage & double lakeviews all in the greatest Boulder Bay setting of all times. $1,490,000

LAKEFRONT MASTERPIECE.

THIS SPECTACULAR GILNER POINT LAKEFRONT EUROPEAN VILLA PERMEATES OLD WORLD ITALIAN CHARM WITH 4 BEDROOMS, 4.5 BATHS, HUGE GREAT RM/THEATER, SPACIOUS GYM, ELEVATOR, 3 FIREPLACES, VOLUME CEILINGS, WINE CELLAR, RARE IRISH MARBLE, CARVED ROSA STONE, MARIBU WOOD FLOORS, 3 CAR GARAGE PLUS BOAT GARAGE AND DOCK. $3,100,000

To schedule a showing of any property in Big Bear. Please don't hesitate to contact me.

Mike Dolan

Big Bear's Leading Realtor

   # 8 Prudential Agent Award

   7 time PREA 100 Award

   11 time Diamond Circle Award

    2 time 5 Year Legend Award

(909) 866-6453 (Office)

(909) 936-6453 (Cell)

mikedolan@bigbearproperties.com

Mikedolan.com

Prudential Properties of Big Bear

 "The Locals' Choice"

10 Year Average-Deed Recordings

Compliments of Mike Dolan

Prudential Properties of Big Bear

2007 vs. 2008 Average  89%

Mike Dolan

Big Bear's Leading Realtor

   # 8 Prudential Agent Award

   7 time PREA 100 Award

   11 time Diamond Circle Award

    2 time 5 Year Legend Award

(909) 866-6453 (Office)

(909) 936-6453 (Cell)

mikedolan@bigbearproperties.com

Mikedolan.com

The Local's Choice

The Big Bear Report

May 2009

 A Monthly Review of the Big Bear Real Estate Market

What's it going to take for buyers to understand that NOW is the right time to invest in property? Of course there are some buyers "sitting on the fence" for fear of losing their job (that's understandable). What is not understandable is why so many buyers remain on the fence from their fear of buying  before the market "hits bottom". Today we know values are down and bargains are to be made. We also know that    interest rates are currently at a 42 year low (4.6%). So what happens if values continue to drop and we "bottom out" but then interest rates go back up to 8% or 10%? So shouldn't it become a strategy rather than a guessing game.

The Local's Choice

Great Big Bear Properties Under $200,000

Cute As A Bug

Located just 2 blocks from the national forest is this affordable 1 bedroom, 1 bath single story with corner rock fireplace, covered front porch, fenced back yard and 2 storage sheds on a low maintenance level lot with EZ year round access. $89,900

Super Starter Seller Financing

Charming, woodsy cabin includes real rock fireplace, Murphy bed, storage shed and half log siding all on a level 50 x 90 cul-de-sac lot with great setting. $119,900

Best Buy In Big Bear

Newly built 3 bed, 2 bath single story with custom fireplace, refrigerator, dishwasher & free standing range. All on a double street-to-street lot with beautiful mountain views. $139,900

Real Log Cabin

Built in 1992, this efficient full log home includes 2 bed, 1 full bath with "Lopi" wood stove, rock fireplace, "Artist's" cabinetry, new wood flooring, woodsy interior, skylights, open beam ceiling, large sun deck and rear fenced yard all on a double lot. $149,900

Better Than Bank Owned

Spacious 2 bed, 1 ½ bath fully furnished Mountain get-a-way. Perfect for entertaining all with additional bonus room (non conforming) 2 car attached garage and located on a great 50'x 100' level lot in desirable Bear City location. Subject to short sale approval $169,900

2008 Built Foreclosure

Approx 1,202 sq. ft. in this new 3 bed, 2 bathroom single story with central heating, separate utility room. Vaulted ceilings, corner fireplace and complete kitchen appliances all on a double level lot in quiet sunny location. $169,900

Commercial Residence

Affordable 2 bedroom, 1 bathroom single story home w/river rock f.p, laundry hook-ups, new roof, new flooring, fresh paint, storage shed, fenced yard all on a 35' x 100' commercially zoned lot steps to shopping. $179,500

Foreclosure With A View

2007 built 3 bed, 2 bathroom single story with separate utility room, vaulted ceilings & corner fireplace, all on a double level lot backing to acreage all with incredible meadow and mountain view. $179,900

Beats Bank Owned.

"Teachers" state cut backs "Forces" single mom to liquidate this spacious 3 bed, 1 ½ bath, 2 story with separate laundry, new roof ('05), "Lopi" pellet fireplace, tankless H20 heater and nice mountain view all on a double corner lot with fenced yard. $189,900

SECLUDED HIDEAWAY.

 SPECTACULAR SETTING JUST STEPS FROM NATIONAL FOREST ON THIS FULLY FURNISHED 2 BEDROOM WITH NEW WOOD FLOORING AND CARPET, NEW ROCK FIREPLACE, TANKLESS WATER HEATER, GRANITE COUNTER, NEW CABINETRY & FAUCETS ALL WITH A BABBLING BROOK AND TREEHOUSE FEELING. $199,900

 To schedule a showing of any property in Big Bear. Please don't hesitate to contact me.

Mike Dolan

Big Bear's Leading Realtor

   # 8 Prudential Agent Award

   7 time PREA 100 Award

   11 time Diamond Circle Award

    2 time 5 Year Legend Award

(909) 866-6453 (Office)

(909) 936-6453 (Cell)

mikedolan@bigbearproperties.com

Mikedolan.com

Prudential Properties of Big Bear

 "The Locals' Choice"