Living in Big Bear Lake

Author: rachaelsmithrealestate

  • Home Evaluation in 5 Feet of Snow

    Just got a call from an expired listing in regards to his cabins on the Blvd.  I had to run from my office in the Village of Big Bear Lake to get to the property since the berm is 6+ feet high and there was no where to park!

    Nice place with 65 feet of frontage on Big Bear Blvd zoned C-3 Commercial/Visitor Use.  Can stay as it is existing with the 3 cabins on it or build a Hotel/Motel/Bed and Breakfast.  Endless Opportunities!

    Call for more info 909-744-2190

  • I love making dreams come true!

    I love making dreams come true!

  • Real Estate Humor For Our FSBO Owners out there!

    Real Estate Humor For Our FSBO Owners out there!

  • Condo on the Slopes of Big Bear!

    Condo on the Slopes of Big Bear!

    Take a look at this fabulous condo right on the slopes of Big Bear Mountain in Big Bear Lake California.

    Owner is motivated to sell, not listed in the MLS.

    http://www.tourfactory.com/1690454

    Asking price $299,000

    Location, location, location! ski in ski out! fronts bear mountain resort. walk to bear mountain golf course. just down the street from the forest entry! this awesome unit is at the base of bear mountain. walk out the door and get on the lift. upgraded flooring, nicely furnished, turn-key. great income potential, hot tub, tennis court what else do you need. move in ready.


  • Winter Storm MLK Weekend 2017!

    Winter Storm MLK Weekend 2017!

    Mother Nature provided what is a perfect winter holiday weekend in Big Bear. With a couple of feet of new snow during a 36-hour period and the possibility of a few lingering snow showers, skiers, snowboarders and anyone who wants to experience the winter wonderland its at their fingertips.
    Big Bear Mountain Resorts reported another 6 inches of fresh powder overnight, adding to the 2 feet received Jan 13. The season is shaping up to be a fabulous winter, with more snow on the way later in the week.
    Chains were required on all roads leading into the mountains including Highway 18 and 38. Fog is reported on Highway 38 between Onyx Summit and Lake William. R-2 restrictions are in place meaning all vehicles must have chains except those with four-wheel or all-wheel-drive and snow tires on all four wheels.
    Jan. 13 began with a power outage across Big Bear Valley. Residents and visitors made the best of the dark, and enjoyed the snow until the power was restored around noon. Snow continued to fall throughout the day setting up the ideal holiday weekend conditions.
    A new storm system is in the extended forecast with snow beginning on Thursday, Jan 19.
    As always if you’re thinking of buying or selling a Big Bear Cabin or know someone who is, give me a call, 909-744-2190 or email at rachael@bigbearsold.com.
    Hope you had a great MLK Weekend! Don’t miss the upcoming forecast below- MORE SNOW ON THE WAY!
    Rachael Smith
    Re/Max Big Bear

  • 10 THINGS TO REALIZE WHEN SELLING A HOME

    I know you hate to imagine swallowing 10 tough pills when you’re thinking about selling a home, yet it happens. There can be some tough pills you have to deal with once that sign goes in the front yard and the sale doesn’t go as planned and you weren’t prepared for the outcome.

    Handling the tough pills is the discussion here. The tough pills and how best to resolve them. You’ll be glad to learn now instead of learning the hard way, while you’re in the midst of selling your home. Swallow hard and let’s jump in.


    Don’t Expect Dollar For Dollar Return From Your Lovely Upgrades

    Buyers will only pay what the local Real Estate market will bear and not what you spent. Unfortunately when you over improve, you risk losing the money you invested. Therefore, choose wisely.

    A minor Kitchen remodel will recoup roughly 80% of your costs, which varies according to the area in which you live. An upgraded Kitchen however, can certainly have added appeal to bring in more interested Buyers. Simply know you cannot add the cost of the remodel to your home’s selling price.

    Don’t let this discourage you however, as there are a few home feature replacements that will recoup over 100% of the cost. Now that’s good to hear. This good news will offset the fact that most will not come in at 100% coverage.


    To brighten your mood, if you replace your front door with a new steel replacement door you can look at recouping your cost nicely at about 110% of the cost. You liked that good news, I’m sure! It’s short lived, as I must continue with the 9 other tough pills to swallow when selling a home. Let’s keep going.

    Just Because Your Neighbors Home Sold For Such And Such Doesn’t Mean Your Home Will Sell For The Same Amount Of Money

    If I could tell you the number of times I’ve heard homeowners spout out that their neighbors home sold for $350,000 so their home should too, as they just love the home that they’ve lived in for the past 15 years. Little do they know that their neighbors home just had a complete Kitchen renovation. Do they think a Buyer will pay the same price for the home they’re trying to sell that has an outdated Kitchen with laminate countertops and cabinets? I bet you know the answer to that. Emotional attachment routinely gets in the way of making an educated decision regarding the home you want to sell. You simply need to trust the advice of a Real Estate professional who sells homes for a living, like I do.


    Get Rid Of Your Realtor Friends

    What, get rid of your friends you ask?! One of your friends that you chum around with, has their Real Estate license and occasionally dabs in selling homes. She sold her mom’s home when her mom had died this past year and she’s helping her cousin who is relocating to Boca Raton Florida to escape the winter cold from Michigan. Other than that, you can’t remember her last Real Estate transaction. She really doesn’t have the time while fulfilling a full time job as administrative assistant to a busy law firm. But heck, you think, “…she’s my friend, how can she do me wrong?…” After all, the two of you have so much in common.

    There are so many ways that she can do you wrong. In fact, these wrong ways will stop you from selling your home. Can you afford to take the risk? I understand it’s not always easy to say “no”, especially to a friend, but in this case, you must. Hire a skilled Real Estate Agent and sell your home fast and for the most money.

    You Have To Keep You Home Show Ready When Selling

    Did you know that over 81% of home Buyers express that it’s easier for them to envision living in a home when it’s staged and show ready? Not a made up percentage either as the National Association of REALTORSⓇreported. 

    Plan your showing schedule so when a prospective home Buyer visits, it will be a breeze for them to see themselves living in your home. If you always keep a tidy, neat home than just a quick notice that a Buyer is on their way should be enough. However, if you need a little more time to spruce up, then an hour’s notice to a home showing or up to 24 hours might be a requirement you’ll need. If you work all day, make sure your home is pristine before you leave for the day even if no showings have been scheduled.

    What a pain in the you know what, you think! Would you rather be inconvenienced for a few weeks before you get an offer on your home, or do you want it drawn out for months on end? It gets drawn out when Buyers visit your home and see a mess, while the previously staged home now seems non-existent. Know that there aren’t any shortcuts or tricks to avoid this either. (Note that I said receiving an offer within a few weeks. This brings up a whole other topic not covered in this Real Estate article, that discusses the importance of pricing a home for sale so you get offers and your home doesn’t languish on the market for weeks on end.)

    Not Everybody Will Love Your Home In Its Current Condition And/Or Style

    Understanding this from the beginning will result in less heartaches. More than likely you love your home. You love how you decorated your home. You love that red dining room wall. You love having the children’s bedrooms right next to your bedroom. Yet, diversity makes the world go round and some prospective Buyers may like certain things about your home, while not other things about your home. They may plan a remodel.  Understanding Buyer differences and that certain things about your home will appeal to certain Buyers, while not all things will appeal to them. Not all Buyers will like where your home is located, how your home is decorated or what amenities your neighborhood offers them or lack of amenities. What does matter is that just one Buyer thinks the price of your home is fair, likes where your home is located and can envision themselves living in your home, even if they want to get rid of the red dining room wall and do a bit of remodeling. That’s okay. It doesn’t matter. You just need that one Buyer. Of course, if your home is priced right and presented well there will likely be more than one interested Buyer, particularly in the current Real Estate market that showcases a Seller’s market in most southeast Florida cities. So remember, if they send you an offer to buy your home, you’re halfway there.


    Eliminating Your Garage To Add On An Extra Room In Your Home Will Cost You Many Prospective Buyers

    You thought you would convert your garage to have the use of a home office. Your argument is that many Buyers want a home office, don’t they? Sure they do, but not at the expense of losing a garage. Do you now understand the tradeoff here? If that garage was really a must, then swallow hard and accept the fact that the perfect Buyer may be harder to come by for you when selling your home.

    Your Home’s Selling Price Is Not A Simple Square Foot Calculation

    What? No way. Really, you ask? Who knew?! Unfortunately, you’re not alone, as many, including Real Estate Agents, wrongfully calculate a home simply by its square footage. A home’s value is so much more than it’s square footage. It’s about the updates or no updates, it’s about the good/bad location, it’s about the functionality, it’s about the condition, it’s just so much more that must be factored into your home’s selling price.

    Now, that you’re feeling that lump in your throat as you really had no idea, by all means, make sure your Real Estate Agent doesn’t try a simple square foot calculation, as that’s just one of many things to avoid in a Real Estate Agent.

    Not Requiring A Solid Pre-Approval From Prospective Buyers You Risk Not Selling Your Home

    “Oh, but I do on all Buyer’s offers. See, this letter says they’re pre qualified to buy our home”. Too funny! How many times have I heard Buyers say they’re pre qualified to buy a home. I’ll respond to them by saying, “… oh, okay, so you provided your Mortgage Lender with your bank/asset statements, pay stubs, tax returns and your credit report?…”. “Well no,” they’ll reply. “We just had a phone conversation and I told them how much money I made and that I have good credit and they advised me that based upon that, I’d be qualified to buy a home with a sales price of $350,000”. I shiver in thought. Here we go again. Unfortunately, such a conversation is worthless, utterly without value. Meaningless. All of the financials mentioned above need to be reviewed by the Mortgage Lender in order to get a meaningful Pre-Approval letter.

    The Pre-Approval letter will provide home Sellers with the best knowledge of knowing the Buyer’s ability to secure a mortgage. Without it, you could go through all the steps of selling a home only to find out a week before closing that the Buyer’s Lender cannot approve them for a loan. Could you imagine finding that out, after all you’ve gone through in getting to that point in the Real Estate transaction? That would be really hard to take, hard to swallow, wouldn’t it? So will you require a strong Pre-Approval letter now? I thought you’d say yes.


    There May Be A Gap Between The Time You Sell Your Home And Buy Your Home

    Perfect timing of selling your home and then buying your home can certainly happen, yet not always 100% of the time. In the event, there’s a snag and you can’t move into the new home, it’s best to anticipate such an event and don’t be thrown into a tailspin when it happens. You may have to put your sold home belongings briefly into storage while you shelter up in a short term rental or bunk with family and friends until you can move into your new home. Knowing it can happen is best so you don’t worry yourself crazy over it, just anticipate.

  • Are you Afraid of these Real Estate Terms?

    Are you Afraid of these Real Estate Terms?

  • 9 Common Real Estate Myths That Plague Buyers and Sellers

    Buying or selling a house is not something most of us do every day. You may do it once a decade, or even once in a lifetime. Despite the fact that most of us enter the world of real estate only rarely, we all think we know how it works, based on the experiences of friends and family members, stories we have heard and things we have read.
    But for everything we believe we know about the industry, there are a number of myths that circulate about how real estate actually works. Buying into those can hurt your chances of buying or selling the right home at the right price.
    In recent years, technology has radically changed the way homes are bought and sold, and yet some aspects of real estate are the same as they were when your parents bought their last home. If a long time has passed since your last transaction, you may be surprised at how much has changed.
    The Internet has made much more information available to consumers, but not all the information is equal, or even accurate. 
    “A lot of people, for some reason, they believe what they read on the Internet,” says Gea Elika, principal broker of Elika Real Estate in New York and a regional director of the National Association of Exclusive Buyer Agents. “Read everything you see on the Internet with a grain of salt.”The danger with believing everything you hear or read is real estate myths can cost you money when it’s time to buy or sell a home. Here are nine of the most common ones that can trip up buyers and sellers:
    Set your home price higher than what you expect to get. Listing your home at too high a price may actually net you a lower price. That’s because shoppers and their real estate agents often don’t even look at homes that are priced above market value. It’s true you can always lower the price if the house doesn’t garner any offers in the first few weeks. But that comes with its own set of problems. “Buyers are highly suspicious of houses that have sat on the market for more than three weeks,” says Nela Richardson, chief economist for the brokerage Redfin. In areas such as San Francisco where multiple offers are common, sellers will actually price their homes for less than they expect to get, in the hopes of getting multiple offers above asking price. However, if you do this in a declining market, the danger is that all the offers will come in at the asking price or lower.
    You can get a better deal as a buyer if you don’t use a real estate agent. “That’s a completely false premise,” Elika says. If the house is listed with a real estate agent, the total sales commission is built into the price. If the buyers don’t have an agent, the seller’s agent will receive the entire commission.
    You can save money selling your home yourself. Some people do successfully sell homes on their own, but they need the skills to get the home listed online, market the home to prospective buyers, negotiate the contract and then deal with any issues that arise during the inspection or loan application phases. It’s not impossible to sell a home on your own, but you’ll find that buyers expect a substantial discount when you do, so what you save on a real estate commission may end up meaning a lower price. It’s not impossible to sell your home on your own for the same price you’d get with an agent, but it’s not easy.
    The market will only go up. In recent years, homebuyers and sellers have experienced a time of increasing home values, then a sharp decline during the economic downturn and now another period of increasing values. “They think that the market only goes up,” Elika says. “They don’t think about when a correction will come.” The recent recession should have reminded everyone that real estate prices can indeed fall, and fall a lot. Economist Robert Shiller created an inflation-adjusted index for home prices dating to 1890 and found that home prices have fallen a number of times over the years, including in the early 1990s, the early 1980s and the mid-1970s.
    You should renovate your kitchen and bathroom before you sell. If your kitchen and baths work, a major remodel could backfire. Prospective buyers may not share your taste, but they don’t want to redo something that has just been renovated. “You’re better off adjusting your price accordingly,” says Kevin Brown Jr., president of Praedium Real Estate Services in Pittsburgh and a regional director of the NAEBA. “Most buyers want to put their own spin on things.”
    You’ll earn back what you spend on renovations. If you fix the heating and air conditioning system or roof, you will sell your house more quickly, but you probably won’t recoup what you spent. According to Remodeling magazine’s 2015 Cost vs. Value Report, the only renovation that is likely to net you as much as you spent is a new front door. You’re likely to recoup only 67.8 percent of what you spent on a major kitchen remodel and 70 percent of what you spent on a bathroom remodel on a mid-range home. “Very few things will bring you great returns,” says Sabrina Booth, an agent with Redfin in Seattle. “If you’re going to do these projects, it’s better to do them for your own enjoyment.”
    All the properties listed in the multiple listing service show up online. Your agent must choose to let the listings show up online. Most do, but it never hurts to verify that yours will.
    Open houses sell properties. Homes rarely sell to buyers who visited them during an open house. Agents like open houses because it enables them to find additional customers who are looking to buy or sell homes. If you or your agent choose not to have an open house, it probably doesn’t hurt your sale chances – although holding a broker’s open house for other agents may be worthwhile.
    The agent who shows you homes or lists your home represents your interests. Maybe and maybe not. In about half the states in the U.S., agents may be “transaction brokers” who don’t have a fiduciary duty to either the buyer or seller. In many states, a customer has the option of signing an agreement for the agent to represent him as a listing agent or as a buyer’s agent. Before you start working with the agent, ask about your options and do some of your own research. Most brokerages require buyers and sellers to sign a form indicating that they understand whom the agent represents.

  • Big Bear Events Last Quarter

    October Events
    -Big Bear Lake Oktoberfest Every weekend in October
    -Oct. 1-North Shore Half Marathon/10K/5K
    -Oct. 1-Big Bear Lake Troutfest
    -Oct. 31-Halloween in the Village
    -Oct. 31-Boo in the Zoo
    November Events 
    -Nov. 4- First Annual Big Bear Comedy Festival in the Village
    -Nov. 24- Turkey Trot
    -Nov. 26-Santa’s Grand Entrance and Tree Lighting Ceremony
    -Nov. 27-Mountain Christmas Boutique 
    December Events 
    -Sat/Sun in Dec—Christmas in the Village
    -Dec. 31-New Years Torchlight Parade
    -Dec. 31-Bear Mountain New Years Eve Party

    -Dec 31-Snow Summit Party Years Eve Party

  • 10 Ways Home Buyers Self-Sabotage Their Chances At Homeownership

    Let’s face it, you need a strong stomach, a large dose of hang-in-there-and-hold-on-tightly, as well as an ounce or two of patience stored away to make it through a real estate transaction these days. Even “easy” deals can and often do get hung up over minor details. With all the pitfalls ready to snare prospective buyers before they take the keys and begin moving into their love nest, the last thing these consumers need to do is get in their own way!
    So, long before you take possession of that cute craftsman, jump for joy at the views from your new condo, or strip down and run around your new private acreage, you need to do everything in your power to avoid these 10 real estate loan killers.

    1. Just Sign Here

    Although it is tempting to sign up for all those snail mail credit card applications, show some restraint, at least until after you close on the home. Getting approved for more credit can actually lower your credit score and give creditors pause about your ability to repay any new debt. The lenders I know are all great peeps, but they universally do not want to suddenly see credit surprises, so do your utmost to avoid the temptation to acquire more credit card bling.

    2. Early Payoff Temptation

    Figuratively, just keep your extra cash under the mattress until you are a new homeowner. When you pay off debt it updates your credit score date of last activity. Generally, while paying off debt early can be a smart move, during the home loan process is not the ideal time to have that revelation, as it can have a negative impact on your credit score. Sleep on the funds and pay off those nagging debts after you have the house keys in hand, not before. If you must indulge, make an extra payment across all your balances at the same time.

    3. Charge It!

    The new thingy, bright and shiny, must have, want so badly can nearly taste it, and fill-in-the-blank item can wait! It.Can.Wait. There is no quicker way to sabotage your home loan than to run up your credit cards while waiting for your loan to get through all the wickets. Your credit score will drop quickly and you may find that incredibly reasonable interest rate is no longer available to you, or worse yet, you no longer qualify for the home loan. A good rule of thumb is to ensure your card balances remain below 30% of their available limit.

    4. Credit Card Consolidation

    You could get penalized by moving around your balances and maxing out one (or more) card(s). Again, either wait until you own the property or complete the debt consolidate long before you decide to buy a home. If your lender gives you the green light, go for it, otherwise your best move is to make no move at all.

    5. Cash is King

    It can be, especially if you have fully documented where the money came from. Undocumented funds might as well be fool’s gold as your lender will ignore this unsubstantiated cash. The cash may be legit but it cannot be used to verify your income or as a down payment without a paper trail.

    6. Avoid Closure

    This is not a Dr. Phil moment! It is a prudent move to avoid closing credit card accounts while getting a home loan. Your debt ratio will go up, your credit history will be affected, and your lender, agent, significant other, etc. will not be happy with the outcome. Check with your lender before making this move, but the exception is closing old accounts showing an available balance if you believe they are already negatively affecting your credit.
    7. More is Less and Less is Better
    Wait, what? The less you do to affect your credit the better. Period. That means tasks like creating new accounts, large fund transfers, changing your name, and being a loan cosigner need to wait until after you sign the closing documents.

    8. Ignorance is Not Bliss

    If your lender tries to contact you and needs you to send them something or call them back, you need to follow their instructions. You need them more than they need you so do everything in your power to be proactive when requests are made.

    9. Not Making Periodic Payments

    Please continue making regular payments on all your debt! Do not skip ANY payments. If you do miss a payment let your lender know as quickly as possible so they can determine if/how your loan application has been affected by your faux pas.

    10. Not Being Transparent

    Trying to hide credit issues will catch up with you. So will incorrectly reporting income, debt, and your work history. Your lender will find out anyway so it is best to be brutally honest from the beginning. You may be surprised by their willingness to help you, so help yourself by being as transparent as possible.
    These are just a few of the ways consumers can get in their own way and sabotage their loan before the ink is dry. If in doubt about the process or approach you need to take, talk with a qualified mortgage professional. Getting and keeping a loan puts you on the path towards home ownership!