Everyone who has purchased a lakefront home in Big Bear does so in part for the unique experience of living lakeside and in part as a financial investment. My experience is that most people primarily purchase for the former; a vacation home in which to spend quality time relaxing with friends and family. But that does not exclude the fact that a Big Bear lakefront home is a significant financial investment as well, which may take precedence at times, particularly when making a decision as to whether to sell one’s property.
That being said, here are the most common reasons I hear for why people decide to sell:
• The property is no longer being used often enough to justify the expense of upkeep, taxes, etc.
• Due to life circumstances – relocating across the country, health reasons, etc. – using the property is no longer a real possibility.
• From a financial perspective, the proceeds from selling the property might be better invested elsewhere.
• A tax professional advises them to do so for financial reasons.
• The homeowner can no longer afford the cost of homeownership and is forced to sell.
Again, these are all common reasons to sell one’s property. If the decision is made that selling your lakefront property is worth considering, the next logical question is when to do so.
When selling a lakefront property, there are a few Big Bear specific real estate related matters to consider:
• From a real estate perspective, the far majority of Big Bear lakefront homes go into escrow during the summer and autumn months. Listing before the summer begins gets you exposure heading into the busy buyer season.
• Although not a significant concern for all properties, selling when the lake’s water level is higher is much better than selling when it is lower. The lake is usually near its highest annual levels in late May to early June.
• It is always better to sell when there are fewer homes on the market. Less competition means you are more likely to get a higher offer at that particular point in time.
• Ultimately,it is recommended to consult a financial advisor and tax professional for guidance in when to sell.
Only you can decide if it’s the right time to sell your Big Bear lakefront property. But if you are considering selling your home, there is likely much more you would like to know about the selling process before making a decision. I welcome your correspondence in regards to these matters and offer my experience and services in helping you make the best decisions in light of
your particular circumstances.
Lastly, one of the biggest determining factors of whether to list one’s home for sale is the property’s current market value. In that
regard, if you would like to know the current market value of your lakefront home, please contact me and I will be happy to provide you with a comparative market analysis of your particular property.