After a spectacular year for sales of lakefront homes in Big Bear, we just had our first closing for what we hope will be another busy year in the Big Bear lakefront real estate market.
39556 Forest Road, a 4 bedroom, 2.75 bath, 3408 square foot lakefront home originally listed in July of 2011 for $1,599,000, eventually dropped its price over time to $1,150,000, and finally sold this month for $1,000,000 after 525 days on market, selling at $293 per square foot.
Built in 1970, this home had had some upgrades but the overall finish was an interesting mixture of dated and updated features. The floor plan was also less than perfect but certainly workable. One of the most attractive featires of this property was the back yard which is a nice landscaped lawn surounded by iron fencing. There is also a separate beach area complete with fire pit and of course, a boat dock.
The home sits on a small cove and does not have substantial panoramic views. The proximity to neighbors is on the close side aa well. But overall, considering the price, I feel this was a good buy for someone needing the square footage and wanting to get on the lake.
After 2012, it's difficult to not have high expectations for lakefront sales. With there being only 20 homes for sale on Big Bear Lake currently and with the market beginning to shift towards a seller's advantage, I would expect to see prices start to rise, perhaps at the expense of fewer sales, as sellers may stick firmer to their list prices in light of the continued predicted market change.