Pricing a property in Big Bear is a lot different than your standard tract home or primary home location.
The fact is that the properties in Big Bear can be dramatically different, even when they are in the same location.
We have many areas with big homes next to small homes, old homes next to new homes, homes on the lake and homes off it, homes with ski slopes views and home with out a view.
There are very few locations that contain homes with a lot of commonality between them. Areas with upscale, newer homes such as Castle Glen, Meadowbrook Estates, High Timber Ranch, Ironwood Estates, and Eagle Point Estates are the exception, not the rule.
Pricing a property in Big Bear is more about the local real estate market knowledge than it is looking at comparables on paper, on a computer, or how much it costs to replace it (replacement cost). It has a lot to do with following your "gut", or intuition.
This is why no evaluation site, like Zillow & others, will ever replace a real estate agent. They do not have the actual human experience or intuition that is necessary when pricing a property.
When you are talking about real estate, just like in life, your "gut" comes from experience. Typically, the more experience one has, the more they can rely on it. Our "gut" tells us to do the right thing, and thus is not always the easiest to follow.
So, how does one come to price or value a typical property in Big Bear & where does my "gut" come into the equation? Check out the video below for my thoughts on this.
Let me know what you think.
Like the video above? Check out some of my other video posts.
Syndicated from & originally posted at The Big Bear Skinny.