You will get a great deal no matter what time of year you buy. I work in Lake Arrowhead and Big Bear. There are plenty of great deals year round up here. Getting a great deal has a lot to do with the particular property, time on market, pricing, your offer and your agents negotiating ability. That will get you a great deal no matter when you buy. Feel free to contact me inf you have any questions.

As I think we all have found out, there is no predicting what the market will do. It seems that in the area of Big Bear Lake, which is a resort town, the market seems to be picking up a bit. There are some good buys right now and interest rates are still good. It would be best to familiarize yourself with the area you are interested in so that you know when the right home comes available for you and you will know if it priced well after comparing to the other homes you have viewed. The more familiar you are with your area of choice the better. If you are thinking of buying something to keep for at least five years or more is best right now.

Hi Michael:

I agree with the others, if you are planning to buy a property in a certain area, there is not a wrong time to look. You should get started and be educated about the area and inventory. Then when the right house comes along, you will be comfortable with the house you are buying and the offer you are making.

Remember that it is very difficult to time the market and it's very hard to be THE ONE PERSON to buy at the lowest of the market and the one to sell at the top of the market. So, what you want to do is to get the house at the price that makes the most sense to you.

You want to go and interview a few Realtors (preferable by referral or by reading answers from Realtors on Trulia - Tyler below gave a very detailed answer to your questions); build a good relationship with the realtor, perhaps have he/she show you a few houses that fit your criteria every time you go (sounds like there are quite a few different areas to explore) and you will be ready to jump on a great deal on the house you like.

Also, don't be shy to make a lower offer on houses that you like. You never know what the seller will do - consult your Realtor first, of course.

Sylvia
Sylvia

Hi Michael,

Yes, sales are slower in the winter because it is harder show property. That equates to lower inventory, but also fewer buyers who have come to visit the properties that are for sale.

Go look now, and don't get rushed into a purchase if aren't finding the properties that meet your criteria. If a great property for you is available, move forward now. There are fewer buyers competing with you, and that is to your advantage. If you dont' see what you are looking for, hold back and wait for more inventory to surface.

You can also ask an agent to pull expired listings or withdrawn lisitings to ask the seller if there is current interest in selling. If you have a solid working relationship w/ a buyer agent, he/she will do that for you.

Hello Michael. This is a question many buyers are asking these days.

I would recommend looking now to get a feel for the current market options in the specific area you are wanting to buy in. Be particular for the right deal. Look for the options that might have some built-in equity already in the price (there are some of these out there). If you do not find the right property now, then I would keep eye out and wait another 6 months as the overall real estate forecast does not look great over that time frame. Most of the buyers I talk with now are continuing to wait.

One thing to consider as well is how long you plan to own the proeprty. If you plan on holding onto the property for 10 years or more, waiting 6-8 months might not matter that much in the grand scheme of things. You probably won't recall exactly how much you paid for it 10 years from now. Our 10 year average appreciation is approx. 40% based on the last 30 years. If you plan on holding onto it for just a few years, then waiting 6-12 months might be the best option.

As with all real estate markets, you need to look at each one closely. While Lake Arrowhead, Crestline, Running Springs, and Big Bear may all be classified as "resort" communities, it could be a mistake to generalize that all the the real estate markets in these area are responding the same to the current market conditions.

That said, the first four months of the year are the slowest time for sales in the Big Bear Lake area. The inventory is typically at it lowest during these months as well (about 1050 residential right now as compared to 1500 during the summer months). This time can be good to buy as there is less competition form other buyers. Waiting until the summer/fall should provide you more options to look at plus some better prices, but you will be competing with some other buyers looking for the same things.

Either way, I think there are some good deals to be had in the current real estate market in Big Bear. I would get a good feel now for what it out there and then make a decision as to wait or not.

Decide what you are willing to spend and see if there is a property out there that fits your criteria. If not look until you find it. Then try to negotiate it to the price you have in mind. Be reasonable! If the seller has already lowered their price to fit the market don't try to take 20% off of the price but if they are still trying to get last years prices go for it. The worst they can say is no. Are you working with a realtor in the area. They will be an asset to you. They will keep their eye out for you and will no about a property well before you will.
Good luck.

There is a lot of inventory up here that has been on the market since last year already. Foreclosures are up and home prices are falling gently. We have had a lot of buyer activity in Jan so far, in Crestline/Lake Arrowhead, and there are many great deals on second homes. You need to look at interest rates also, in addition to home prices. It's a balance right now. I have sold several vacation homes so far this month, so it is the right time for a lot of vacation home buyers.