Big Bear Real Estate is a unique market. With less than 10% of the listings in the Big Bear MLS being bank owned, it isn't the same as the rest of the Inland Empire. While bank owned properties seem to be driving the market here with over 30% of the closed transactions in the past 3 months, these numbers are far below the average for the other areas of San Bernardino County.
Close to 70% of the transactions in Big Bear MLS are still coming from traditional Real Estate transactions with a typical buyer and seller situation. Currently we have 931 residential properties available in the Big Bear MLS, and 68 of these are flagged as bank owned (7.30%). The Big Bear MLS has 100 pending sales and 52 of these are flagged as bank owned (52%). Month to date (January 1 - 23, 2009) we have had only 28 closings, with 9 of those being bank owned (32.1%).
*These numbers do not include the listings that are not in the Big Bear MLS, so it would be fair to say that there are more bank owned properties on the market and more sales occurring that are not shown here.
Steve Hirschler
Associate, The Tim Wood Group
Coldwell Banker Mountain Gallery
42153 Big Bear Blvd.
P.O. BOX 6820
Big Bear Lake, CA 92315
stevehirschler@gmail.com
909 866-3481 EXT. 217 CELL 909 725-5889
Fax 909 866-3531
http://www.stevesellsbigbear.com
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