Big Bear Real Estate Update for November 2013
by Bob Angilella
Time for turkey! Yes that is right, the holidays are upon us and what does that mean for Big Bear Real Estate? Sales, sales, and more sales! Traditionally, November through February is our 2nd busiest time of the year for real estate sales in Big Bear Lake, summer being the busiest. This past summer, we had sales and home appreciation that touched on 2006 and 2008 values, and now, values have settled down which I am very happy about. In addition, the interest rates have settled, at around 4% for a 30 year fixed loan.
Statistics for Big Bear lake real estate in the month of October were as follows; We had an average of 465 Active listings, as compared to October 2012, and we had an average of 545 listings. The average pending’s for October 2013 were 142 pending’s, with an average of 125 pending in October 2012. The sold's for October 2013 were 119, as compared to October 2012, which were 129, just a few more as compared to today’s sold's.
As you can see, with these statistics, we have a somewhat stable market, and I expect this to continue well through next spring, 2014. Our inventory will fluctuate from 450 to 635 active listings throughout the winter, and sales will remain brisk, averaging 100 to 140 sales per month. The interest rate, volatility in today’s stock market and the political dogma that keeps surfacing in the news, makes it a great time to buy, as values are normal, interest rates low and credit is available to all credit worthy folks. It seems people, (including myself) want to invest in something that is solvent and a good investment that will grow over the years. Investment property, as we have here in Big Bear Lake, CA seems to be very popular for investors as vacation income producing rental property or just owning a 2nd home and enjoying with your family or friends over the years, while the property appreciates. Of course, there are no guarantees.
As always, contact me if you have any questions and please use our website to search all Big Bear real estate. Remember, we are Big Bear’s number one sales team for your real estate experience here in Big Bear Lake, let us serve you! Until next month, have a beautiful Thanksgiving holiday.
Bob Angilella
