Posted by: mikewochner | October 17, 2008

Recent Sales: 39200 Seminole and the Lot Next Door Close Escrow in Fawnskin, CA 92333

39200 Seminole Drive, Fawnskin, CA 92333

39200 Seminole Drive, Fawnskin, CA 92333

Situated over on the north side of Big Bear Lake, this custom built 3629 square foot home recently closed escrow.  Quality construction with copper color aluminum roofing, central air conditioning, and a back up generator were some of the highlights of this home.  It had 4 bedrooms, 3 bathrooms, a game room loft, formal dining room, a billiards room, and a nice gourmet kitchen to entertain large groups.  It sits on a level 13,750 square foot lot and had a large covered patio to enjoy the views. Built in 1992, this property sold in April of 2005 for $1,375,000.  This time, the seller was asking $1,699,000. 
Living Room

Living Room

Escrow closed on October 15, 2008 for $1,360,000.  This property was on the market for 889 days and was paid for in Cash.  The vacant lot next door also closed escrow on October 15, 2008 for $600,000 cash.  It covered just over 10,000 square feet and can either be merged into one property, or the owner could build a separate single family residence.  Both properties were owned by the same seller. 
I’ve mentioned in previous posts about how the lake level fluctuates from year to year.  Below is an excellent illustration of what I am referring to and visually easy to understand.
The first time this property came on the market (in August of 2004), the MWD (Municipal Water District) recorded the lake level at 56′ at the dam (or 16’4″ below full).  You can tell from the photo that the lake receeded all the way out of Grout Bay towards Windy Point!  My guess is that’s a good 100-150 yards back.  Some properties back then had water 10′ in front of them (the deepwater lakefronts) and some had water 150 yards away from them (the shallow water lakefronts). 

The second time this property came on the market (May 10, 2006) the MWD recorded the lake level at 72′ at the dam (or 4″ below full).  That’s a difference of 16′ at the dam over a 3 year period!!  The photo on the bottom is as good as it gets…..the photo on top is what it could look like after a couple seasons during a drought. 

List Price:  $1,699,000

Sales Price:  $1,360,000

List Price/Sales Price:   80%

Days On Market:  850

Sales Date:  10/15/2008

Sold Price Per Square Foot:  $375

View of Big Bear Lake from 39200 Seminole in 2004

View of Big Bear Lake from 39200 Seminole in 2004

View o Big Bear Lake from 39200 Seminole in 2008

View of Big Bear Lake from 39200 Seminole in 2008

 

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