Realtor of the Year, 2020, Big bear lake
It's COOL up here at 7,000 ft...
A "new way"...
🏡 Exciting News for New Big Bear Lake Real Estate Prospects!
I hope this message finds you well and enthusiastic about your real estate journey in beautiful Big Bear Lake. I'm thrilled to share some important updates that will enhance your property search experience and ensure that you find the perfect home that matches your preferences and needs.
🔎 Introducing a Modern Approach: The world of real estate is evolving, and so am I. In order to provide you with the best possible service, I've transitioned to a more personalized and efficient approach. Instead of the traditional method of touring homes solely based on predetermined criteria, I'm embracing technology to empower you in your home search.
🏠 Your Search, Your Way: You now have the flexibility to explore the Big Bear Lake real estate market at your own pace. Simply visit www.realtor.com or www.zillow.com, two trusted platforms known for their extensive listings and user-friendly interfaces. There, you can explore a wide range of properties, filter by your desired specifications, and compile a list of homes that catch your eye.
✨ Tailored Viewing Experience: Once you've selected a handful of properties that pique your interest, reach out to me with your curated list. I'll then coordinate with you to schedule personalized viewing appointments for the properties you've selected. This approach ensures that your time is spent exploring properties that truly resonate with you.
🌟 Your Preferences Matter: I understand that every buyer is unique, and your preferences are paramount. Whether you're looking for a cozy 3-bedroom, 2-bathroom home in the $500k range or have specific architectural styles or amenities in mind, this new approach empowers you to discover properties that align with your vision.
📞 Stay Connected: As always, I'm here to support and guide you throughout your real estate journey. Should you have any questions, require assistance with the platforms, or need expert advice, don't hesitate to reach out to me. Your satisfaction and successful property hunt remain my top priorities.
Embrace this new era of real estate exploration, where you're in the driver's seat of your home search. I'm excited to embark on this journey with you and look forward to helping you find your dream home in Big Bear Lake.
Meet Bill Young, DRE# 01365728
My Big Bear Background
First and foremost, I have been a full-time REALTOR in Big Bear. since 2003....and for several years I served on the board of directors of the Big Bear Association of REALTORS as the Treasurer/Board Officer. I was licensed in California real estate in 2003. I am certified by the National Association of REALTORS (NAR) as an Accredited Buyer Representative (ABR). I am also certified by NAR as e-PRO (Certified Internet Professional), a certified agent for Short Sales and Foreclosures (SFR), and a Certified Real Estate Negotiator (CREN). When all of my client’s concerns are satisfied, then I volunteer in the following areas: Past Chairman and Treasurer of the Big Bear Chamber of Commerce , Past President of the Friends of the Big Bear Alpine Zoo, current Secretary of the Big Bear Astronomical Society, Past President of the Big Bear Amateur Radio Club, and Past Director of Public Relations for the national Association of Zoos and Aquarium Docents (AZAD)
My Experience
After several years with Santa Ana Police dept, and 35 years in the computer business, I moved to Big Bear Lake in 2003. I have been an active, full-time REALTOR in Big Bear since 2003. I have been involved with Internet commerce almost since it's inception in the early 1990's (please, no Al Gore jokes). From a Seller's perspective, this experience gives me the ability to use the internet to help Market your home... after all, getting your home in front of Agents and interested Buyers is the principle method of selling your property. And if you select me as your Buyer's Agent, I will provide you with information that is timely, accurate, and comprehensive. After we find the right property for you, I will help with all aspects of the transaction, including negotiating the best possible terms and conditions for you. I promise to do everything that is legal and ethical to make your home buying or selling experience as painless, profitable, and enjoyable as possible. I'll personally be involved with your transaction from start to finish. If you need something, please contact me directly... and if I need something from you, I will be the person calling you.
Summary of August 2023 in Big Bear valley
The big question in the minds of both buyers and sellers is “will this crazy seller’s market turn around soon?”, and “When will the current trends soften up a bit?”
Although I’ve got a ton of data on our Big Bear Lake real estate market, the important info is the Current Data. We ask “how can we tell if the market is changing?”…
Naturally, our crystal ball is crystal clear when we look over the shoulder, and by analyzing the past data, we can get a glimpse of what future data may look like.
· Summary of August 2023 in Big Bear valley
Overall Big Bear market
- Lots of inventory in all price ranges
- August saw the highest unit volume this year
- Overall AUP is up in August to $556k
- 2 and 3 bedroom cabins continue to climb higher in price
- Median Days On Market (DOM) is 47 days
- Cash buyers represented 29% of August sales
Conventional loans represented 65% of August Sales
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56% of transactions were below asking price...
* With about 19% at asking price
* And about 26% above the asking price
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Lower priced cabins still a Seller's market
* Big Sales, but small inventory
* Unit sales mostly in unincorporated areas... Entry level investment mostly for personal use
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Mid-range cabins are closer to a balanced market
* $400k to $800k…inventory keeping up with sales
* Unit AUP in mid-range was down
* Buyers looking to Short Term Rentals (STR) to augment costs
* FHA/VA sales were 5% of unit sales Points to a few “owner occupied” for the summer
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High end homes are in a Balanced market.
* Lots of inventory, but slower sales.
* High-end properties took much longer to sell
* A mix of lakefront and high-end neighborhoods
* About 23% of total July sales volume.
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2023 vs 2022..........
* AUP % change= +11% ($468k vs $530k)
* # homes sold= down from 1648 to 1028
Is Inventory going up?
· Is Inventory going up? Yes (blue line)
* Our inventory is increasing to 339 units.
* We now have a very broad selection of cabins in all price ranges.
Buyer or seller market?
· There are 3 pricing ranges to evaluate:
* Above $1M market changed to a Balanced market
* Low range still a "Seller's" market.
* Looking at just the "Inventory vs sales" ratio isn't the whole story... we need to factor in the "speed" of homes selling as indicated by the "DOM" (Days On Market).
Are unit sales going down?
· Are unit sales going down? yes (blue line)
* The 5-year average for August is 125 units…
* In August-2023 we sold about 78 units
* August unit sales was the most in 2023
Are sold prices down?
Are SOLD prices going down? Yes
* Overall sold AUP was steady in August.
* 2 and 3bedroom cabins inching upwards
Multiple offers going down?
•Multiple offers going down? Yes
* This graph shows (in RED) where the closing price was "above" the list price... that points to a Seller's market thru last summer. Example: April 2023 about 16% of the transactions closed above the asking price
* Then we see a transition in about June of last year... the Green bars show that the contract prices were BELOW the asking price... that points to a Buyer's Market. Example: June 2023 saw about 50% of the closing prices were below the asking price.
* So, we can't rely on just the "inventory turns", but we must also factor in how quickly the home sold (DOM from a chart above)
* Bottom line: The August numbers point to a much more competitive market for Sellers (good for buyers). Remembering that the MARKET sets market price, WE don't.
Since the green bars in the graph are so high, this suggests that Sellers are pricing their homes with last year's mentality, while closing contract prices point to a much more competitive market for Sellers.
comments on big bear real estate
The Internet is Your Friend...
With all of the detailed property information that is available on internet sites like Realtor.com and Zillow.com, why do you still need a Realtor to guide you through the buying process here in Big Bear? Almost everything you would want to know about a property is available within just a few clicks on most real estate internet sites.
However, there are some very important details that you WON'T find on any internet site.
Details the internet can’t give you:
- Is real estate in Big Bear a good deal?
- What is the actual current condition of the home I found?
- Are the MLS pictures truthfully showing the property?
- What does your agent (me) think about the home's value?
- Are there any neighborhood problems?
- Does the street flood during rain or snow melt?
- Is there enough parking at the home?
- How about weekend noise?
- Any future developments that may affect the property's value?
- Is the road paved and maintained?
Step by step in the Buying Process
Here is how the “buying” process will go:
- Contact your favorite Lender to get a pre-approval letter. This will set the correct expectations and point us to the correct price range. If the purchase will be in Cash, then be prepared to send me the “proof of funds” that we’ll include in any offer.
- Search the internet, and review each listing that I send to you... then tell me about the Big Bear cabins that you find interesting. ALL available properties will be on the internet sites.
- I’ll go to each property you tell me about to make sure there aren’t any obvious surprises, and make sure the property is still available.
- Next, you must come to Big Bear and physically look at the interesting properties. Most sellers won't accept a "blind offer" where the buyer hasn't physically been to the property.
- We’ll select a property that you want to buy, and I’ll prepare the Residential Purchase Agreement for your e-signatures.
- Upon Acceptance from the Seller, we'll start Escrow the next day. Typical escrows are about 45 days long. Stay nimble since often times simple and unusual issues will pop up during the escrow period. We'll need to respond to escrow's comments with great haste.
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I am an expert guide. Buying a home involves dozens of forms, reports, disclosures, and other technical documents. I’ve been a Realtor in Big Bear for about 20 years, so know the CAR forms we'll use.
Objective information and opinions. I can provide local information on utilities, zoning, schools, handyman and tradesmen, and more. I will also provide you with objective information about each property ... we will use that data to help you determine if the property has what you want/need.
Negotiation knowledge. There are many factors up for discussion when buying a home in Big Bear. Things like what inventory stays with the cabin, escrow length, inspection periods, security system log ins, etc. I will help you look at every angle, including crafting a purchase agreement that allows you the flexibility you need to complete the purchase.
Up-to-date experience. Most buyers buy or sell only a few homes in a lifetime, usually with quite a few years in between each sale. Even if you've done it before, laws and regulations change. I've handled hundreds of transactions over the course of my career and I continuously study new laws, forms, and case studies, so you can be sure that my knowledge, and your transaction will be up to date.