Big Bear Bummers

Address: 42554 Cedar Ave, Big Bear Lake, CA 92315

Link: https://www.redfin.com/CA/Big-Bear-Lake/42554-Cedar-Ave-92315/home/4114848

Beds/Baths: 2 beds, 1 bath, 768 squares

Purchase Price (7/1986): $58,000

Asking Price: $424,900

Difference: +$366,900

Commission (3%): -$12,747

Total Gain: +$354,153

They expect you to hand them a $350,000 profit but can’t be bothered to take a few decent photos. Like, come on dude.

These photos are hilariously dark.

And this listing description is…ambitious. Let’s break it down:

Explore this exquisite, well-maintained mountain haven.

“Exquisite” is an interesting word choice.

This inviting cabin features a newly painted exterior, modern wood plank flooring, and elegant wooden shutters in the living room.

“Elegant wooden shutters”? Elegant?!

Being offered as is and fully furnished, this cabin is ready for immediate occupancy.

Bro, nobody wants your old, nasty furniture!

The delightful wood-burning fireplace in the living room ensures a warm and cozy ambiance during the winter, as well as on chilly fall and spring nights.

Are they trying to tell us the heater is on the fritz?

Relish your morning coffee and enjoy barbecues on the front deck throughout the year!

I hope you enjoy barbecues by yourself because I don’t think there’s enough room for another person on this deck.

The rest of the listing description seems fine:

Ideally situated, the cabin is only minutes away from ski resorts, shuttle parking, Moonridge Zoo, and the golf course. The national forest, with its opportunities for biking, hiking, and snow play, is just a short stroll away. Located in the heart of the valley, it’s a mere few miles from the lake and grocery shopping and the Big Bear Village. The recently developed Moonridge corridor, ideal for biking and strolling, boasts a selection of retail shops and dining options. Make sure to visit and tour this home during your search—you’re in for a delightful surprise!

And that “delightful surprise” is that this dung pile will cost you three grand a month!

Purchase price: $424,900

Down payment: $84,980

Monthly nut: $2,817/mo (@7%)

These sellers seem to have tons of equity but not a lot of brains. If they just spent 15 MINUTES taking proper photos and marketing this place they might be able to justify this absurd $424,900 asking price. Notice I didn’t say they could get this asking price, just that some well-lit and decently composed photos might help justify it.

Because, as we have covered many, many, many times, there is plenty of eager competition in this tiny one-square-mile area of Lower Moonridge. As of today there are 30 sellers all begging for buyers, and their Days on Market keep ticking up.

So how does our featured seller plan to stand out from the crowd? Certainly not on price – there are several homes undercutting them by tens of thousands of dollars.

Certainly not on condition – this place looks dark, dank and outdated.

Certainly not on size – this tiny 768-square-foot property sits on a postage-stamp lot and your neighbors are so close you could pass them a roll of toilet paper through the bathroom window.

I don’t understand the strategy here, but when you have 40 years of equity I guess it doesn’t really matter – they’re going to make a killing either way. The question is: will they be willing to aggressively lower the price to quickly get a deal done, or will they arrogantly decide their sizable equity makes them immune from market forces and slow-walk their price cuts?