Big Bear real estate has not been an exception to the rest of the California when it comes to foreclosures. As in most places, the aggressive pricing of bank owned homes in Big Bear has put downward pressure on home values across the valley.
Although this has been to the detriment of many current property owners' home values, it has presented prospective Big Bear home buyers with a once in a lifetime opportunity. Never have prices retreated as they have since the market downturn in 2006. Take a look.
You will note that both the median and price per square foot of Big Bear homes has fallen a jaw dropping 48% since the market's peak. This eclipses the downturns of the markert crash of the early 1990s as we have receded back to 2001-2002 prices. In essence, Big Bear home values have lost a decade of gains!
If you are currently looking to purchase a mountain property, there are certainly plenty of homes for sale in Big Bear at heavily discounted prices. Many people will search Big Bear foreclosures feeling that this is their best opportunity to get a property at below current market value. This is oftentimes true, but it is also not uncommon for motivated traditional home sellers to aggressively list their homes at prices that are as good, if not better, than most Big Bear bank owned homes.
Ultimately, my suggestion is to go ahead and search foreclosures for that advantageous deal, but don't forget to keep your eye on the entire market to make sure you have all your bases covered.
Luckily, this website is a good tool to use to accomplish this. In looking at properties on this site, you will be prompted to sign-in. After doing so, you will not only have access to all of Big Bear's real estate listings, but you can also save as many property searches as you would like. I would suggest setting up a Big Bear foreclosures search as well as a search of all homes for sale in Big Bear. This way, you will be emailed eflyers when new bank owned homes come on the market that meet your criteria as well as traditionl sales that fall into the same category.
Happy searching! And please don't hesitate to contact me directly with any questions you may have. Speaking in person is oftentimes the quickest, most efficient way to find you your ideal Big Bear home.
Paul Zamoyta - Big Bear Lakefront Real Estate - firstname.lastname@example.org - 909.557.8285