Interesting numbers regarding the towns and cities that are leading the nation's housing recovery. 

By: Melissa McCue

Jumbo loans, also known as non-conforming, are typically loans where the principal balance exceeds the conforming loan limit of $417,000 that is set by Fannie Mae or Freddie Mac, although some areas have higher limits. Jumbo loans have always carried a higher interest rate than conforming loans, until recently. 

In September 2013 the interest rates for jumbo loans were lower than those of conforming loans. Major news sources have analyzed the possible reasons for this occurrence, ranging from the shift showing health and stability in the market to others stating that it is a sign of instability. One article linked the decrease in rates to an increase in the sale of high-end homes, which piqued my interest as to whether Big Bear has experienced any such increase. Since the rate decrease just occurred in September, it seems it would be premature for data to indicate a solid increase. However, I decided to look at sales in different price ranges regardless of whether they are linked to the decrease in loan rates.

Overall the numbers for Big Bear showed very little change in the percentage of sales from 2012 to 2013 in broad categories. For instance, sales over $500k increased just 0.47% from 2012 to 2013. However, when the price range categories are broken down into smaller increments, a larger redistribution is evident.

The chart to the left shows that price ranges are shifting. As you can see, sales under $200k decreased by 8.13% while there was a closely corresponding increase of 7.42% in the $201k - $400k price range, and that trend of upward redistribution continues throughout the rest of the chart. The cause of these shifts is not apparent, but I suspect it is a combination of a market driven increase in prices meeting buyers who have increased confidence in market stability which encourages them to spend a bit more to get the homes that they want.

Make sure you take a few small steps to ensure that your home is ready for the cold. Here are a few suggestions to get you started: 

• Set thermostat to a minimum of 55 degrees
• Turn off your stop and waste valve and drain the pipes
  
• Have your furnace & chimney serviced by professionals
  

Here are links to some helpful articles regarding winterizing your home:

     MSN Real Estate - Winterizing Tips

     Wiki How - Winterizing a Vacant Home

     Boston Globe - Winterizing Tips

For 9 years running, Bear Mountain Ski Resort has hosted an annual pre-season handrail competition highlighting some amazingly talented skiers and snowboarders performing tricks that are pretty impressive, sometimes even awe-inspiring! On September 21, 2013 this tradition will continue in the form of the 10th Annual Hot Dawgs and Handrails winter kick off party! Entrance to the event is FREE  and you get plenty of entertainment, this year's competition will boast 40 skiers and snowboarders from across the country jibbing on 130 tons of ice that will be chipped into snow.

I realize that these types of competitions are not high on the list of social events for everyone out there BUT there is one very compelling reason to attend, even for those not interested in freestyle skiing and snowboarding. That reason, is to save money on season passes! For those who visit the season pass office at Bear Mountain Ski Resort from 9am - 6pm on the day of the event there are significant savings to be had, ranging from around 11% - 15% depending on the pass you buy. For a family of three purchasing Anytime Dual Mountain Passes, this could equate to $250.00 - $280.00 in savings! 

Click the link below to view a schedule of prices for various types of passes. Make sure to refer to the pricing on or before May 31, 2012 or the HDHR One Day Only Price, not the current date, as these are roll-back prices.

                                             BEAR MOUNTAIN RESORTS SEASON PASS PRICES

Saving money is a great excuse for a drive up to Big Bear to enjoy the last of the beautiful summer weather, so come on up and get away from it all for a weekend!

There are 33 public lake access points on the south shore of Big Bear Lake. Members of the public are allowed to launch non - motorized vessels such as kayaks, canoes & stand up paddleboards as well as swim, fish or picnic!

For a map of these access points, visit the fantastic interactive Google map that I have created at:

 www.RealEstateBigBearLake.com/public-lake-access

OR

Visit the Municipal Water District at:

40524 Lakeview Drive, Big Bear Lake