Big Bear Bummers

Address: 1241 Redwood Dr, Big Bear City, CA 92314

Link: https://www.redfin.com/CA/Big-Bear-Lake/1241-Redwood-Dr-92315/home/4115345

Beds/Baths: 3 bed, 2 bath, 1,040 squares

Purchase Price (8/2021): $600,000

Asking Price: $799,000

Difference: +$199,000

Commission (3%): -$23,970

Total Gain: +$175,030 (!)

I’ve seen some low-effort photos in my time, but these out-of-focus turds are really something else.

In August 2021 our seller got into a bidding war and plunked down 50 grand over ask ($600,000). After only two years they decided to cash in their winning lottery ticket and in October 2023 listed for a mind-boggling $799,000.

And rather than reduce their ridiculous asking price during the last nine months, these knuckleheads refused to budge and have been collecting cobwebs ever since. As it stands they have been languishing on the market for nearly 300 days without any offers.

Like, how does this happen? Did they forget their house was for sale? Is the listing agent’s roster of unsold properties so large that this one just got lost in the shuffle?

Or maybe it’s just a “Make Me Move” price? They can easily afford the payment so they throw out an absurd number to see if anyone is mentally deficient enough to fall for it? It’s truly a mystery.

All I know is this seller loves overpaying for stuff and must think everyone is as foolish as they are. Just look at the RAV4 Prime in the carport.

When these plug-in hybrid versions came out during the pandemic the demand was through the roof – people were lining up to pay 5-10 grand over MSRP just to get their hands on one. We’re talking $60,000 for a crossover that starts at like $29,000.

So it seems these sellers have plenty of cash and aren’t in any kind of rush to sell their ho-hum vacation property.

Are you interested in rewarding these greedheads for all their “hard work”? Here you go:

Purchase price: $799,000

Down Payment (20%): $160,000

Monthly Payment: $5,471/mo (@7.4%)

That payment is absolutely bonkers for this testament to mediocrity. I don’t understand their pricing strategy and lack of urgency. The listing description isn’t helping things either:

Turnkey Investment Opportunity in Big Bear Mountain, located in the upscale Fox Farm Neighborhood, this property features front to back elegance and in a open spacious setting. The cabin greets you with a open layout, rustic appeal and modern design ideal for hosting friends & family. Perfect 2nd home that doubles as a rental, this cabin has generated over 60k a year in annual income since 2021

First of all, $800,000 and that’s all the information we get? That’s one way to do it I guess.

Second, they boast about the alleged $60,000 in annual rental income assuming you’re too stupid to realize that’s gross income. We have no idea how much of that was eaten up by insurance (way higher now than when they bought), repairs, maintenance, property management costs and Airbnb fees. It’s a meaningless number.

Third, $60,000 in annual rental income means something totally different to someone with a monthly payment of $5,741 ($800,000 @7.4%) than someone like our seller paying $3,000 a month ($600,000 @4%). Again, how stupid do they think we are?

Anyhow, there isn’t much hope for greedy, willfully ignorant sellers like this. They’ll stick with their brain-damaged asking price and continue blaming buyers for “not seeing what a gem this place is” and petulantly insisting “we’re not going to just give it away!”

I wish they would pull the listing and end the charade, but even their realtor hasn’t been able to convince them this isn’t 2021 anymore. So expect this place to continue rotting on the market and contributing to the ongoing stalemate between delusional sellers and eligible buyers who refuse to overpay.