Big Bear Bummers

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  • SOLD: The Royal Tannenbaums

    This seller’s long journey has mercifully come to an end. After more than two grueling years on the market they finally got rid of their albatross. With a sales price of $755,000, they ate roughly $92,000 after 3.5 years of ownership. I have a feeling that’s not the outcome they were expecting when they bought…

  • PRICE CUT: Wings of a Fa(i)lcon

    This price reduction is notable because the seller finally, mercifully acknowledges they will not walk away with a profit. That dream is officially dead. Psychologically it was probably difficult to give up on the promise of making money on their ill-timed investment. So, good on them for breaking through the fog. However, before you think…

  • Blunder Dome

    Address: 160 Yosemite Dr, Big Bear City, CA 92314 Link: https://www.redfin.com/CA/Big-Bear-Lake/160-Yosemite-Dr-92315/home/3513841 Beds/Baths: 4 bed, 3.5 bath, 3,478 squares Purchase Price (8/2021): $950,000 Asking Price: $965,000 Difference: +$15,000 Commission (3%): -$28,950 Total Gain/Loss: -$13,950 OK, I kind of love these dome cabins.  They’re so unique and weird. And I do mean weird. Unfortunately, not everybody is looking for…

  • Overpay at Your Peril

    Address: 43734 Yosemite Dr, Big Bear Lake, CA 92315 Link: https://www.redfin.com/CA/Big-Bear-Lake/43734-Yosemite-Dr-92315/home/3513151 Beds/Baths: 2 bed, 2 bath, 992 squares Purchase Price (2/2022): $679,500 Asking Price: $574,900 Difference: -$104,600 Commission (3%): -$17,247 Total Loss: -$121,847 Wow, this one is going to hurt. In February 2022, this place was listed for $589,000. Our seller thought it would be a great…

  • UPDATE: A Moment of Clara-ty

    At this point they have been rotting on the market for an astounding 241 days. And after being stuck at $685,000 since APRIL, they finally decided a price cut was needed to stir up some interest. And boy did they drop the hammer, cutting a whopping five grand from their ridiculous asking price. This is…

  • UPDATE: Fridge Benefits

    Things aren’t looking good for this seller. It certainly doesn’t help that they’ve been dribbling out penny-ante price cuts instead of getting aggressive. Assuming this new price can attract a buyer, at this point the seller will eat around $43,000. Pretty harsh for just one year of ownership. But what I find most interesting is…

  • UPDATE: Pick Your Pain

    This is just getting sad: Even if we calculate the sales commission at 3% rather than 5% to reflect the recent NAR settlement, their losses still total $190,000 – not to mention tens of thousands in renovation costs. When you’re upside down and can’t sell it or rent it, what do you do? Some would…

  • “Seller Wants it Sold”

    Address: 1224 Redwood Dr, Big Bear Lake, CA 92315 Link: https://www.realtor.com/realestateandhomes-detail/1224-Redwood-Dr_Big-Bear-Lake_CA_92315_M27672-28985 Beds/Baths: 4 bed, 3.5 bath, 2,553 squares Purchase Price (2/2022): $960,000 Asking Price: $899,900 Difference: -$60,100 Commission (3%): -$26,997 Total Loss: -$87,097 Don’t all sellers technically “want it sold”? Isn’t that the point of listing a property – to sell it? The real question is what…

  • SOLD: Alta la Vista, Baby

    Wow, they pulled it off. After all that shit I talked they actually found a buyer willing to step up and overpay, resulting in a $25,000 profit for our seller. I’ve said from the beginning that the dialed-in, turnkey properties have the best chance of getting good money in this environment, but I never thought…

  • UPDATE: Code Brown

    I keep trying to warn obstinate sellers: If you sit around waiting for a miracle rather than fixing your price, that gives long-time, equity-rich neighbors the opportunity to undercut you and inflict even more financial pain. Exhibit A: https://www.redfin.com/CA/Big-Bear-Lake/41764-Brownie-Ln-92315/home/4112140 Because the seller of Unit 4 refused to budge on price, Unit 6 was able to…