Big Bear Bummers

Address: 42536 Cedar Ave, Big Bear Lake, CA 92315

Link: https://www.redfin.com/CA/Big-Bear-Lake/42536-Cedar-Ave-92315/home/4114856

Beds/Baths: 2 bed, 2 bath, 964 squares

Purchase Price (1/2021): $350,000

Asking Price: $500,000

Difference: +$150,000

Commission (3%): -$15,000

Total Gain: +$135,000 (LOL)

These numbskulls have been listed since June 2023. That’s right – we recently surpassed the 400-day mark.

FOUR HUNDRED DAYS!

The greed and delusion on display here is incredible.

Our seller bought in January 2021 for $350,000, and in the summer of 2023 listed it for an absolutely bonkers $575,000. On what planet did that price make sense?

After a series of chickenshit price cuts (including $2,000 and a pathetic $1,000 “reduction”) they are still on the market begging for half a million bucks.

I’ll have some of whatever they’re smoking.

And shame on their realtor for going along with this brain-dead horseshit. They need to get real with their client and convince them to lower the price. But these dank, zero-effort photos that look like they were taken with a russet potato indicate this listing agent might not be super invested to begin with.

Are you interested in committing financial suicide? Here you go:

Purchase price: $500,000

Down Payment: $100,000

Approx. Payment: $3,663/mo (@7.4%)

That monthly payment is outrageous for this sub-1,000-square-foot hovel.

The sad thing is if our seller had initially listed it for $400,000 in 2023, I bet they could have gotten it. That price would have allowed them to cover their sales commissions and walk away with like 38 grand in their pocket. And they would have been free of this albatross!

But now it’s too late. Rates are crazy high, the stock market is spooked, employment is softening and there’s simply too much competition. If you recall, this part of lower Moonridge has at least 25 other sellers competing for the same handful of buyers. $500,000 for this pile just isn’t going to happen.

But rather than taking what they can get and escaping their financial horror show, these greedy gremlins decided to chase the market down in slow motion. And now their listing is stale beyond repair at a price that has no basis in reality (realty?).

What’s their next move? I guess we’ll have to wait another 411 days to find out.