Author: rachaelsmithrealestate

  • Are Zestimates on Zillow.com Correct?

    Zillow’s CEO
    Spencer Rascoff just gave real estate agents a gift we won’t ever forget: a
    sure-fire way to show that Estimates can miss by a mile.  How? 
    By selling his home for much less that what the Zestimate evaluated it
    at. 
    Early this
    year, Rascoff sold a Seattle home for $1.05 million, 40% less than the
    Zestimate of $1.75 million shown on its Zillow page.  Zillow recently acknowledged that Zestimates
    can be inaccurate, but some consumers can still take them at face value.  A Zestimate is just a conversation starter,
    not final word on Value. 
    In addition
    to highlighting the shortcomings of Zestimates, the Zestimate of Rascoff’s home
    also brings into focus the potential for some automated valuations to be more
    accurate than others. 
    Unlike
    Zillow’s property page on the home, Redfin’s page on the home showed a
    valuation of $1.1 million- much closer to the property’s sale price of $1.05
    Million.
    Pair that
    with the fact that Rascoff just paid $1.6 million over the Estimate on his
    Brentwood, Ca home and I think we can assume their valuation model is not one
    to base your home price on. 
  • Lender Referrals In Big Bear

    Hello,
    If you’ve been thinking about a purchase in Big Bear in the near future and need a loan I wanted to recommend my top providers to you.  Often we get clients with their own lenders, off the mountain that are not familiar with local processes/vendors that can make or break a deal.  
    Here is a list of lenders that cover our area and know how to keep a deal together! Feel free to let them know I referred them.  
    Martha Moriarity-McKinley
    Mortgage Planner
    NMLS# 247254
    PO Box 7021
    Big Bear Lake, CA 92315
    Phone: (909) 866-6856
    Mobile: (909) 744-4668
    Fax: (909) 866-7626
    41619 Big Bear Blvd.
    MMcKinley@SummitFunding.net
    Nicolas Ellis
    Branch Manager
    Ark-La-Tex Financial Services, LLC NMLS 2143
    Phone: (502) 371-5005
    Fax: (502) 371-5007
    License:: NMLS 10490
    nellis@benchmark.us
    www.nickellis.benchmark.us
     Slade Lohman
     
    Have a great Labor Day Weekend and let me know if you are wanting to see property!
    Rachael Smith, Broker
    Re/Max Big Bear Lake Village
    626 Pine Knot
    Office phone: 909-744-2190
    Email: rachael@bigbearsold.com
    Website: www.buyinbigbearlake.com
  • New Moonridge Listing with Great Rental Potential!

    New Moonridge Listing with Great Rental Potential!

    This home in Moonridge just hit the market about an hour ago.  
    Below is some of the feedback I get from the rental agencies that I work with.
    This home is super clean… Good Location and Sleeps 5.
    Our top producing 2 bedrooms do about $20K gross annually but they get rented like crazy to meet this.

    Spruce Hollow – This 2 bedroom sleeps 4 and rented 147 nights to gross $20K.
    http://www.destinationbigbear.com/Property_detail_v.aspx?propid=616

    Having the space for a pool table is great. Its a little more house than some 2 beds 2 baths.

    Set up the bedrooms correctly and I think it will doe $16K – $18K gross annually. Potentially more….

    If its possibly I would do this.

    Bedroom 1: Queen and Twin
    Bedroom 2: Queen and Twin

    or

    Bedroom 1: Queen and Twin
    Bedroom 2: Single Queen or King

    While this may not be the home you are looking for let me know which one is and I can get some feedback for you!
  • Infographic: September 2014 Existing-Home Sales

    Infographic: September 2014 Existing-Home Sales

    The information in this infographic is from September 2014 Existing-Home Sales data.

    Infographic: September 2014 Existing-Home Sales

  • What kind of trees can I plant in Big Bear?

    I get this question quite a bit.  We will find the perfect home but there needs to be more trees on it.  I spoke to Emingers Nursery and they recommended the following for planting in Big Bear:


    Evergreens
    Blue Spruce
    Green Spruce
    Maples
    Oak


    Southern California has a Mediterranean climate. This means that the weather
    is warm and dry in the summer, and cool and wet in the winter. The San
    Bernardino Mountains are well known for their lush forests of tall pine
    trees, but there are many other types of plants that live here.

    On the dry south side of the mountain, chaparral bushes cover the steep slopes. Chaparral
    is a bush or shrub, usually evergreen, with leathery leaves and very
    deep roots. Many types have sharp thorns. They can live in poor soil
    with very little water. This group of plants include manzanitas, scrub
    oak, chamise, and wild lilac. These are often joined by yucca plants,
    with their sword-like leaves and tall spikes of creamy white flowers.


    Deep-rooted chaparral covers the southern face of
    the San Bernardino Mountains.



    Black oaks reach for sunlight from the cool, steep canyons.
    Chaparral
    plants are important since their deep roots keep the soil in place,
    preventing mud slides and flooding. When soil washes or blows away, it
    is called erosion.

    In shaded canyons, the environment is
    very different. Ferns, herbs, and willow grow along little creeks under
    tall sycamore, live oak, white alder, elderberry, and big-leaf maple
    trees. Occasionally, big-cone spruce grows in shady ravines, with long,
    wide branches reaching for sunlight.
     
    Along the rim of the mountains, especially from
    Crestline to Big Bear, ponderosa pine, sugar pine, Jeffrey pine, white
    fir, and incense cedar trees mix with black oak and dogwood to create
    the “yellow pine forest.” These beautiful woods have drawn many visitors
    to the mountains, beginning with Indian families thousands of years
    ago. Beyond the rim, on the very highest mountain tops, tough lodge pole
    and twisted limber pines dot the landscape.


    The yellow pine forest is a mixture of oak, fir, cedar, and pine trees.


    Notice the dry landscape of the Mojave Desert caused by the rain shadow effect.
    Over the ridge of the mountain, the
    plants gradually change to adapt to the very dry habitat of the Mojave
    Desert. This is because the mountains block rain clouds from getting
    over them. This effect is called a “
    rain shadow.”
    Some of these hardy plants are pinion pine, western junipers, and
    Joshua trees. You may have tasted the seeds of the pinion pine. They are
    often roasted and sold as “pine nuts.”
  • Market Conditions

    Been a busy summer…for sellers placing their homes on the market.  Most of the sellers I’ve been talking to were waiting for the summertime to list and looks like that’s what all the other sellers were thinking about too.

    We have seen quite a surge in inventory since the beginning of June.  Mid may we were hovering on the 450 listings and to date we have 688 active listings.

    Here’s the rundown on locations:
    Baldwin 16
    Big Bear City 157
    Big Bear Lake 159
    Erwin Lake 51
    Fawnskin 29
    Fox Farm 35
    Lake Williams 3
    Moonridge 126
    Sugarloaf 92
    Whispering Forest 15

    Breakdown in price as follows
    < $100k- 22
    $100-$200k – 217
    $200-$300k -149
    $300-$400k -95
    $400-$500k -58
    $500-$600k -35
    $600-$700k -25
    $700-$800k -20
    $800-$900k -24
    >$900k- 49

    We’ve made the move to a buyers market and with the summer season that just started we’ve started to realize the buyer surge. 

    Award for most appreciated neighborhood goes to Sugarloaf, stats below:

    01/2013-06/2013-$115.26/sf
    07/2013-12/2013-$134.18/sf01/2014-06/2014- $154.07/sf

  • Burros in Big Bear!

    One of my all time favorite clients shot this video today!  Burros in Big Bear!

  • Snow Accumulation 2013-2014

    Snow Accumulation 2013-2014

    I was on Facebook the other night and had a friend post the following information regarding snow in Big Bear Lake.  He lives in Moonridge so surrounding communities may not get as much as they did.

    If you’re interested, here is the snow
    accumulation total at our house (about 7,000 feet) from October 9th thru
    April 26th. Total was somewhere around 35 inches, about a third of what
    we normally would receive

  • What can you buy with 0,000 In Big Bear?

    What can you buy with $250,000 In Big Bear?

    So, I’ve been thinking of making this picture for a while on how I can describe what and where you can buy, how much space you get and the quality of a home that you’re looking at when factoring in location and price.  It’s all relative even if you are buying above $250k.  Basically what the picture is describing is if buying inside Big Bear Lake you tend to get a smaller house, that is most likely going to be a fixer upper.  The tradeoff with that is if you’re looking for a vacation rental income generating property you will get the most from your investments inside Big Bear Lake.  If you’re not so concerned with location and income generating opportunities then you may want to look at Big Bear City where I think you get a good mix of size, location and quality.  For those seeking more home and more quality and not so much location perhaps you would want to take a look into Fawnskin and Erwin Lake area.