After another year of subpar snowfall and unseasonably warm temperatures, one would think spirits may be down about our latest winter experience here in Big Bear. But nothing could be further from the truth as the recent purchase of our two local ski resorts by industry giant Mammoth Resorts has resulted in a busier than usual ski season and announcements of future development has the town abuzz with optimistic speculation as to what the future has in store for the Big Bear area. This optimism certainly has boded well for Big Bear real estate as home sales have remained strong in the face of a slight cooling of home purchases on the statewide level.
Mammoth Resorts has made it clear through their actions that development of the local resorts is an almost certain event. As referenced in several news articles, on their list of future expansion projects you will find connecting the two resorts, building new mountain bike trails for their mountain bike park, and exploring significant development of summer activities including zip lines, climbing walls and other such resort based adventure activities. There has been a steady stream of rumors about real estate expansion that includes building upscale hotels, retail shops, and amenities to cater to what they predict will be a significant increase in visitors to Big Bear. With Starwood hotels being a familiar development partner to Mammoth Resorts, the backing is there to make whatever expansion they deem worthy of doing a reality.
In regards to increased tourism, the effect of Mammoth's purchase of the local resorts has already been seen and felt by Big Bear locals. The new owner's commitment to making snow whenever possible and the increased number of skier visits attributed to the honoring of Mammoth season passes at Big Bear's resorts has resulted in a far busier winter than one would have expected given the warm, dry weather we've had.
Anecdotally, I can say that the majority of prospective Big Bear home buyers I have worked with have cited the recent resort purchase as a significant reason they are considering buying a Big Bear vacation home or investment property. This increased interest in Big Bear real estate will likely result in a greater rate of appreciation for home values than what otherwise would have been experienced. The extent of this appreciation is tough to predict, but it seems almost certain that very positive things lie ahead for Big Bear and the Big Bear real estate market.