Sorry for the interruption in blogging in past week or so. My sister had knee surgery and then my mother had a heart attack last Wednesday. I have spent a good deal of time down in Glendale with them. I brought my sister home on Thursday. My mother had a stent placed in her heart and she is now home. She is 87 and she came through it all very well. She is on a lot of medication; however, she is strong and I think she will do well. I drove over 1,000 miles just in a 3 day period. It is hard when you live in Big Bear and your family is in L. A.
This is our slow time to of year between April and the end of June. Not many tourist come at this time of year because it is in between seasons. No snow and it is too cold to be on the lake. The other reason for the slow time of year is weddings, graduations and little league play offs. About the last weekend of June it starts to get busier and people come back to Big Bear. So, this time of year is an excellent time to purchase some good buys. This is our listing season and more listing come on the market this time of year than any other time. If you are a buyer you would have little competition right now with other buyers and the inventory is great.
On the other hand if you are a seller this is the time to get your property on the market for the season that begins July 4th and ends the first week of December! Now is the time to list your property if you want it to sell this selling season! I can help you with either buying or selling. Just give me a call.
The lake is beautiful right now and everything is so pretty and green. You couldn't ask for a better time of year! Hope to see you in Big Bear soon! Until next time, Bonnie
Monday, May 10, 2010
Tuesday, April 27, 2010
Interest rate hikes!
It looks like rain, it smells like rain and I believe it will rain today or tonight! You know that old song about April showers that bring May flowers...it is true this year. April is not usually a wet month in Big Bear but it has been this year.
Everything I read says that interest rates will soon be rising. They have already gone up slightly and are expected to rise somewhere between one and one and a half percent by the end of the year. A 1% rate increase on a 30 year loan would increase the cost of the house by almost 17% over the life of the loan. That is a large increase! If you can possibly buy prior to the interest rate jump it would certainly be financially beneficial. It's not just extra interest you will pay each month but you will have to qualify for a larger payment which in some cases would be difficult for many buyers.
I have seen interest rates as high as 20% and as low as 2% in my career. However, most of the time it was 7 to 10%. So if it stays under 8% it looks good to me! It is going to climb, it is just a matter of when. The current interest rates are artificially low and they can't stay there. So expect the rise in interest rates and make your plans accordingly! My belief is that borrowing money to purchase a home or cabin is about the cheapest money you can get! Look at the interest rates that credit cards charge. 30 to 38% and people continue to use their credit cards...so why would they complain about mortgage interest? It's the same with auto loans. Their interest rate is usually much more than mortgage rates. So, if you look closely at the rates for homes even if they do go up it is the cheapest money you can buy!
Until next time, Bonnie
Everything I read says that interest rates will soon be rising. They have already gone up slightly and are expected to rise somewhere between one and one and a half percent by the end of the year. A 1% rate increase on a 30 year loan would increase the cost of the house by almost 17% over the life of the loan. That is a large increase! If you can possibly buy prior to the interest rate jump it would certainly be financially beneficial. It's not just extra interest you will pay each month but you will have to qualify for a larger payment which in some cases would be difficult for many buyers.
I have seen interest rates as high as 20% and as low as 2% in my career. However, most of the time it was 7 to 10%. So if it stays under 8% it looks good to me! It is going to climb, it is just a matter of when. The current interest rates are artificially low and they can't stay there. So expect the rise in interest rates and make your plans accordingly! My belief is that borrowing money to purchase a home or cabin is about the cheapest money you can get! Look at the interest rates that credit cards charge. 30 to 38% and people continue to use their credit cards...so why would they complain about mortgage interest? It's the same with auto loans. Their interest rate is usually much more than mortgage rates. So, if you look closely at the rates for homes even if they do go up it is the cheapest money you can buy!
Until next time, Bonnie
Monday, April 26, 2010
Monday Morning
We are almost at the end of the month of April. Last week we had a couple of days of snow and wet but it is beautiful today! The tulips are blooming in my yard and the lilacs and snowballs are getting ready to put out leaves and blooms. It is spring time! I have a window on the world out my office French door. The squirrels, birds and chipmunks feed outside my door all day. They have food and water there and the cats and I can watch them. It is great entertainment and such a close up view!
There are only a few days left for you to purchase a first time home and receive the government credit. It expires on After April 30, 2010. It was sure a great opportunity for the first time buyer to help with down payment, fix-up or furniture.
I listed a few great houses this past week. One in Forest Springs Estates in Big Bear City, with 4 bedrooms and 3 baths only three years old, at $489,000. Another one in Sugarloaf that is also three years old with 3 bedrooms and 2.5 baths, a huge great room, laundry and log style exterior for $234,900. And a short sale in Fox Farm for $199,900, 3 bedrooms and two baths, on a large lot in a very sought after area of Big Bear. I have many more but those are the latest good deals!
If you want to look at property please call me. If you want to sell this is the time to get your property listed! Call me, I would love to assist you.
Until next time, Bonnie
There are only a few days left for you to purchase a first time home and receive the government credit. It expires on After April 30, 2010. It was sure a great opportunity for the first time buyer to help with down payment, fix-up or furniture.
I listed a few great houses this past week. One in Forest Springs Estates in Big Bear City, with 4 bedrooms and 3 baths only three years old, at $489,000. Another one in Sugarloaf that is also three years old with 3 bedrooms and 2.5 baths, a huge great room, laundry and log style exterior for $234,900. And a short sale in Fox Farm for $199,900, 3 bedrooms and two baths, on a large lot in a very sought after area of Big Bear. I have many more but those are the latest good deals!
If you want to look at property please call me. If you want to sell this is the time to get your property listed! Call me, I would love to assist you.
Until next time, Bonnie
Wednesday, April 21, 2010
It's Back!
Yes, it is snowing once again! Just when we thought winter was over...it is back! We have received about 3" this morning so far and it is cold! I was just working in the yard on Sunday and here it is all white and wet again. We need the water so I won't complain too much but I am ready for summer and some heat!
Real estate sales continue to pick up and we are selling property. Prices are drifting up and as I mentioned earlier interest rates are drifting as well. However, they are drifting in the upward trend which will make a mortgage more expensive! With the depressed housing market we don't need higher rates, but it is not "if, but when" will they rise. Expect it by the third or last quarter of this year.
The bank owned properties are still few but there is an abundance of "short sales" to choose from. Many good buys are just normal, individual listings that are a private seller. They are competitive with the short sales and many are excellent buys. Plus you usually get a home warranty and disclosures that tell you something about the property. That is certainly a plus when buying.
This is our listing season and the majority of what we list between now and the end of June will be what is available for the rest of the year. Our inventory remains low but there is more of a selection now than earlier this year. If you are thinking of selling now is the time to place your property on the market and get it sold before those bank owned properties hit the market later this year. Call and talk to me, I would love to discuss the sale of your Big Bear property or the purchase of Big Bear cabin.
Until next time, Bonnie
Real estate sales continue to pick up and we are selling property. Prices are drifting up and as I mentioned earlier interest rates are drifting as well. However, they are drifting in the upward trend which will make a mortgage more expensive! With the depressed housing market we don't need higher rates, but it is not "if, but when" will they rise. Expect it by the third or last quarter of this year.
The bank owned properties are still few but there is an abundance of "short sales" to choose from. Many good buys are just normal, individual listings that are a private seller. They are competitive with the short sales and many are excellent buys. Plus you usually get a home warranty and disclosures that tell you something about the property. That is certainly a plus when buying.
This is our listing season and the majority of what we list between now and the end of June will be what is available for the rest of the year. Our inventory remains low but there is more of a selection now than earlier this year. If you are thinking of selling now is the time to place your property on the market and get it sold before those bank owned properties hit the market later this year. Call and talk to me, I would love to discuss the sale of your Big Bear property or the purchase of Big Bear cabin.
Until next time, Bonnie
Thursday, April 15, 2010
Last Chance
Hurry, hurry, hurry! The first time buyer program is expiring on April 30, 2010. There are no signs that the government will continue the program. So, if you wanted to purchase, now is the time to do so. You have to have a property in escrow by April 30th to qualify! Don't pass up $8,000...free from Uncle Sam!
It remains cold here in Big Bear. It feels like winter all over again. The tulips are about to bloom and the lilacs have lots of buds so I know that spring is just around the corner for the mountains.
Prices are still down and so are the interest rates. That won't last either. This window of opportunity for buyers is on the way out. We will return to a normal market very soon. The bargains will continue to shrink. Now is the time to make a decision and move forward. Don't be sorry later..if you are thinking of buying or selling now is the time!
Until next time, Bonnie
It remains cold here in Big Bear. It feels like winter all over again. The tulips are about to bloom and the lilacs have lots of buds so I know that spring is just around the corner for the mountains.
Prices are still down and so are the interest rates. That won't last either. This window of opportunity for buyers is on the way out. We will return to a normal market very soon. The bargains will continue to shrink. Now is the time to make a decision and move forward. Don't be sorry later..if you are thinking of buying or selling now is the time!
Until next time, Bonnie
Tuesday, April 13, 2010
Is it Spring?
Boy, do I wonder! When I woke up yesterday morning at 6:00 a m it was snowing to beat the band! I had an appointment down the hill in Palm Springs at 9:00 a m. After surveying the weather conditions I decided to cancel. It just isn't worth taking a chance driving in poor conditions if you don't have to. So, I felt like I had been given a free day by the universe! I made use of that day here in the office by digging into a pile of things that I have put off or never gotten around to. It made me feel great at the end of the day. Some of those pesky papers were finally off my desk!
I walked on the treadmill for 30 minutes as well yesterday. All in all I had a very productive day and I went to bed feeling up.
The snow storm of yesterday dropped about 4" of snow and made for a very miserable day if you had to work outside. It was colder and last night the temperature dropped. Some of the roads are icy this morning but I hope the sun will be out and it will warm up soon. We need all the moisture we can get so I am happy to see the snow. It is just that we have had such a winter that we are all looking forward to sunshine and warm temperatures. However, Big Bear is always unpredictable at this time of year and yesterday was no exception.
Real estate continues to move forward as well as move up in price. The new crop of cabins for sale are listed at higher prices. I have been saying that the low prices would not last and I was correct. The market has morphed into another faze and it is called "less inventory and higher prices"! Yes, you can buy at a pretty good price right now but it is not the price of one year ago! By the same token it won't be this price next year either. So, what I am trying to say is if you want to buy in Big Bear you better get moving if you want a good deal! After a while the steals will all be gone. They are almost gone now. Don't wait any longer to buy. If you do it will cost you dearly! I would love to help you find your dream home in Big Bear and help you begin to build those precious memories with your family and friends. Those good times are just here waiting for you. So, come on up and start looking!
Until next time, Bonnie
I walked on the treadmill for 30 minutes as well yesterday. All in all I had a very productive day and I went to bed feeling up.
The snow storm of yesterday dropped about 4" of snow and made for a very miserable day if you had to work outside. It was colder and last night the temperature dropped. Some of the roads are icy this morning but I hope the sun will be out and it will warm up soon. We need all the moisture we can get so I am happy to see the snow. It is just that we have had such a winter that we are all looking forward to sunshine and warm temperatures. However, Big Bear is always unpredictable at this time of year and yesterday was no exception.
Real estate continues to move forward as well as move up in price. The new crop of cabins for sale are listed at higher prices. I have been saying that the low prices would not last and I was correct. The market has morphed into another faze and it is called "less inventory and higher prices"! Yes, you can buy at a pretty good price right now but it is not the price of one year ago! By the same token it won't be this price next year either. So, what I am trying to say is if you want to buy in Big Bear you better get moving if you want a good deal! After a while the steals will all be gone. They are almost gone now. Don't wait any longer to buy. If you do it will cost you dearly! I would love to help you find your dream home in Big Bear and help you begin to build those precious memories with your family and friends. Those good times are just here waiting for you. So, come on up and start looking!
Until next time, Bonnie
Wednesday, April 7, 2010
Post Easter Holiday
I was away for part of the Easter week. I spent the time in Palm Springs with my mother and daughter. The weather was nice, one day it was actually 80 degrees. I shopped, ate out and went to the Fabulous Palm Springs Follies. That is always a treat. I have gone for the entire 19 years it has been in operation. If you haven't seen it, you should!
I drove to San Bernardino on Monday morning to drop off my mother with my sister who always meets me at Costco. It was raining the whole way. The wind was fierce and the traffic bad. It took us much longer than usual because of the weather. We made the exchange and then I drove to Waterman Avenue and took it up the hill to Lake Arrowhead. The front road to Big Bear is closed so I had to come around the horn! It was so foggy I couldn't see anything so, I fell in behind some other cars and allowed them to lead me. When I reached Running Springs I didn't even recognize it because of the fog! I finally made it home to Big Bear. It took almost 4 hours from Palm Springs to Big Bear. I had my cats, Julie and Ellie in the car in their crates. They were becoming impatient and wanted to get home. It was an adventure!
It snowed some here on Monday and it has turned cold again but we know spring is near. The ski slopes say they will be open at least until April 15th and possibly May 1st. It was a great season for them.
I am back at work very busy with listings this time of year. Sales remain good and the market appears to be improving! I hope to see you up here soon and show you property. Just give me a call. Until next time, Bonnie
I drove to San Bernardino on Monday morning to drop off my mother with my sister who always meets me at Costco. It was raining the whole way. The wind was fierce and the traffic bad. It took us much longer than usual because of the weather. We made the exchange and then I drove to Waterman Avenue and took it up the hill to Lake Arrowhead. The front road to Big Bear is closed so I had to come around the horn! It was so foggy I couldn't see anything so, I fell in behind some other cars and allowed them to lead me. When I reached Running Springs I didn't even recognize it because of the fog! I finally made it home to Big Bear. It took almost 4 hours from Palm Springs to Big Bear. I had my cats, Julie and Ellie in the car in their crates. They were becoming impatient and wanted to get home. It was an adventure!
It snowed some here on Monday and it has turned cold again but we know spring is near. The ski slopes say they will be open at least until April 15th and possibly May 1st. It was a great season for them.
I am back at work very busy with listings this time of year. Sales remain good and the market appears to be improving! I hope to see you up here soon and show you property. Just give me a call. Until next time, Bonnie
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