41222 Owl Drive just became the 16th lakefront home sale this year. First listed in spring of 2008 for $1,999,000, this home was on and off the market over the following 5 years, eventually dropping its asking price to $1,395,000 and then recently selling for $1,200,000. This home was purchased with a conventional loan.
This home is a 5 bed, 4 bath, 4604 square foot, self-proclaimed English Manor style home that was built in 1973. This property was somewhat dated but in good condition. The grounds were impressively landscaped and the home sufficiently maintained. Although in a prestigious Eagle Point location, this home faced the direction of the public swimming beach which detracted from an otherwise desirable west-facing view.
At $260 per square foot, this home sold well below the 2013 average price per square foot of $426.
With summer drawing to a close, currently there are only 19 Big Bear lakefront homes listed for sale with 6 lakefronts currently in escrow. This remarkably low inventory of lakefronts coupled with the increasing demand for waterfront properties should continue to support an appreciating lakefront home market through the foreseeable future.
If you are interested in buying or selling a Big Bear lakefront home, please contact me.
Paul Zamoyta - info@Zamoyta.com - (909) 557-8285