Below are pending and closed sales along the lake in Big Bear Lake, California for the 3rd Quarter.  

  (July 1, 2008 through September 30, 2008)  

Pending Sales  

I've decided not to give my opinion on each particular pending sale because I would hate to have it affect any of the transactions positively or negatively in either direction.

Closed Sales

777 Cove Drive, Big Bear Lake, CA 92315

Built in 1961, 3153 Square Feet, 3 Bedrooms, 2.75 Baths on a 27,700 square foot lot with Lake Views from virtually every room.  Vaulted ceilings, 4 fireplaces, 3 bedrooms, a great room, den, family room and custom kitchen.  Quality built-ins.  High end custom windows and doors, indirect lighting, a step down bar and a custom 3 slip covered dock.  Listed for $2,250,000 and sold on 10/2/2008 for $2,100,000.  It was on the market for 85 days.

My Opinion: This is a premium location.  It was protected from the wind, you had plenty of breathing room around you (it sits on a 27,700 square foot lot), and the homes around it are consistently large which will help it hold it's value from a comparable standpoint.  Some might not like the layout, but you cannot deny the views and the location if you want a deep water lakefront.  It is a little further from the ski slopes but owners pay a premium to be on the west end of the lake because of the depth of the water.  I grade this buy an A. 

41368 Condor, Big Bear Lake, CA 92315

This home was never in our MLS but was listed by owner for about 3 months.  It was custom built in 2006 with 3 bedrooms, 3 baths, and approximately 3329 square feet just outside the Eagle Point Estates area.  It sits on an 11,000 square foot lot but there is only approximately 20 feet of lake frontage.  The owner was asking $1,800,000 and it sold on 07/10/2008 for $1,675,000. 

My Opinion:  Great newer construction in Eagle Point.  Good location but not because of the depth of the water:  Close to shopping, Snow Summit and Bear Mountain Ski Resorts, the local hospital, etc....but it is not a deep water location.  I bring this up because our water levels vary from year to year depending on the precipitation we get.  I've seen the lake down 18' at the dam in drought years and I've also seen the lake completely full (everything along the lake looks good when we have a full lake!).  I don't doubt the quality of construction or the convenient access to everything "in town", but I question the price for a shallow water lakefront.  I grade this buy a C-.

39569 Lake Drive, Big Bear Lake, CA 92315

This is a new construction overlooking Metcalf Bay in Big Bear Lake with 4 master suites, 6 bathrooms, and a media/office/exercise room.  It features an open living area with cathedral ceilings, tall windows and doors, oak hardwood floors, lots of travertine, and limestone.  The bottom floor has a huge family room with wet bar and wine cellar.  Listed for $1,990,000 and sold on 9/25/2008 for $1,850,000.  It was on the market for 390 days.

My Opinion:  Nice newer construction overlooking Metcalf Bay and to the west.  Great finishing touches with quality materials.  I was a little disappointed with the layout.  It's very up and down with a lot of steps and it felt like the builder kept adding square footage because they had it left over in the build-up area (the lot is sloped).  From a replacement cost, I think the buyers did fairly well, but I thought they could've gotten a better price.  The property was on the market for over a year and it is borderline busy in this area because you are on the cusp of seeing all the boating traffic coming in and out of Holloway's Landing and Pleasure Point Marina.  I would grade this buy a B-. 

392 Gibralter, Big Bear Lake, CA 92315

Refurbished 3 bedroom (or 2 plus huge game room with wet bar), 2 1/2 bath lakefront home had new paint inside and out, new flooring, a dock slip, and a 2 car garage.  Built in 1981, this conventional floorplan covers 1560 square feet and sat on a 8525 square foot lot.  Expansive lake views and centrally located.  Listed for $875,000 and sold on 7/14/2008 for $850,000.  It was on the market for 3 days. 

My Opinion:  Decent location at a great price.  This was not a deep water location, nor was it a very shallow water location.  Nothing too flashy about the home but the buyer was a contractor and saw the potential in buying on the lake in the mid 800's and over time this property will appreciate because they bought on the lower end of lakefront prices and there's room for improvements.  I would grade this buy a B+.

The Current Lake Level from the Municipal Water District as of Monday September 29, 2008 is 66'3" measured at the dam (6'1" below full).  Last quarterly update the lake level was 4'8" below full. 

These numbers were pulled from the Big Bear Association of Realtors MLS on 10/1/2008.  All information herein is deemed reliable, but is not guaranteed. 

Originally posted at www.bigbearlakefrontinfo.com