Bringing things up to date, on December 18th we saw 38859 Waterview Drive, a small, old, tear-down type 1544 square foot cabin on a spacious 20,600 square foot lot close for $800,000. This sale closed at $518 per square foot and could be considered to be pretty much at lot value with little or no value given to the actual home structure situated on the property. Furthermore, the home structure itself encroaches on a neighboring property which comes with its own potential legal complications.
This home was entered into the Big Bear MLS after closing as the neighbors had arranged and negotiated the purchase of this property prior to its posting. It is not unusual for neighbors to sell properties to each other with private arrangements but choose to use realtors to help with the contract aspect of the transaction. I presume this was the case here. In such neighborly transactions, it is also not unusual for properties to sell for more or less than market value as relationships and past promises sometimes play a larger part in negotiations than there would be in an otherwise arms-length transaction.