For the past 60 days, Big Bear has experienced weather events, buyer events and seller's events. The weather event that occurred over the past two weeks virtually shut down the streets of Big Bear and all routes into Big Bear Lake. The snow is piled high, roads are still challenging, but we are functioning. Amidst this weather event, we have been inundated with requests via the internet and my website,
www.BigBearHomesandLand.com, with appointments to view properties.
This past weekend (January 30th) was our first weekend in two, that we were able to accommodate buyers. Even though the roads were closed, our systems have been very busy, averaging 40,000 visitors on my website alone. All of our listings, including yours have showings, and as we move forward, the inventory is low, under 640 active residential listings. To put that in perspective, last January, 2009, we had 1600 residential active listings. Now, with that in mind, why has your property not sold? Most buyers are looking for rock bottom prices, short sales and foreclosures. We have fewer than 50 foreclosures in the Big Bear valley, and any good foreclosure listings have multiple offers on them. Buyers are looking to find great values, and this is why we must keep our values low and priced right. You will find on the attached showing record, a line item for a price reduction. If I feel your home needs a reduction, it will be in red. This is the only way, we can sell the home by establishing a "new price" on the home as to what it should be in today's market. Prices have stabilized, and are not dropping at this time. However, adjustments are being made due to the short sales and foreclosure comparisons used by banks and appraisers.
