Posted by: mikewochner | May 14, 2009

Pending Lakefront Sale: 40578 Simonds, Big Bear Lake, CA (In Escrow)

40578 Simonds, Big Bear Lakefront Home goes into Escrow

40578 Simonds went into escrow yesterday. 

It’s a short sale (the purchase price accepted by the seller is less than what is owed to the lender) which means the agreement is contingent upon the bank approving the price.  This property (zoned R-3 for mulitple units) had 2 detached units on it.  The main residence was a 3 bedroom, 2 bath single story home facing the lake. The guest home was a separate unit above the garage towards the street. It had 1 bedroom and 1 bath. Nice and clean property.  Walking distance to the Village. Centrally located….which can be a positive thing, and it can also be a negative. The last client I showed this property to didn’t like the fact that it was so close to Big Bear Marina. They didn’t want to see all of the activity over at the Marina and felt that it was too busy.  So it in that case, being centrally located was a negative in my buyers’ eyes. 

What’s interesting about this transaction is the fact that it sold back in April of 2007 as a bank owned property (REO) for $875,000. The current owner is advertising it as a short sale at $990,000….so they must have refi’d and leveraged this property to the tilt after the purchase in order for it to be considered a short sale. It’s another classic example of why we’re going through what we’re going through with today’s real estate market. 

 40578 Simonds Drive, Big Bear Lake, CA 92315

Lakefront Homes Sold So Far in 2009:

40080 Francis Way, Big Bear Lake, CA 92315 (3 bed, 3 baths, 2394 sqft: Sold 1/30/09 for $1,150,000).

*208 N Eagle Drive, Big Bear Lake, CA 92315 (4 bed, 4.5 baths, 4194 sqft: Sold 2/20/09 for $2,700,000).

*42020 Eagles Nest, Big Bear Lake, CA 92315 (5 bed, 4.5 baths, 4480 sqft: Sold 3/13/09 for $1,850,000).

*200 N Eagle Drive, Big Bear Lake, CA 92315 (5 bed, 1.75 baths, 1735 sqft: Sold 3/16/09 for $1,750,000).

*511 Lakeview Court, Big Bear Lake, CA 92315 (3 bed, 3 baths, 2622 sqft: Sold 4/10/09 for $890,000).

*4 out 5 sales were cash sales.

 

Lakefront Homes Currently In Escrow:

211 N Marina Point, Big Bear Lake, CA 92315 (4 bed, 8 baths, 7786 sqft: Listed at $4,775,000 with Vlasta Kubis of Prudential Properties of Big Bear and has been in escrow for roughly 1 year….will it ever close? Who knows? In my opinion, probably not.

40135 North Shore Drive, Fawnskin, CA 92333 (4 bed, 4.5 baths, 3000 sqft: Listed at $1,750,000 with Cindy Pearson of Gilligan Log Homes and has been in escrow since 4/30/09).

149 Lagunita Lane, Big Bear Lake, CA 92315 (5 bed, 3.5 baths, 2390 sqft: Listed at $902,900 with Carolyn Dalby of Keller Williams and has been in escrow since 4/1/09).

384 Meadow Circle, Big Bear Lake, CA 92315 (3 bed, 2.5 baths, 1878 sqft: Listed at $770,000 with Ed Ello of Keller Williams and has been in escrow since 4/24/09).

730 Tayles Point, Big Bear Lake, CA 92315 (3 bed, 2 baths, 1392 sqft: Listed with Tyler Wood of Coldwell Banker and has been in escrow since 5/3/09).

482 Tavern, Big Bear Lake, CA 92315 (3 bed, 1.5 baths, 960 sqft: Listed with Paul Zamoyta of First Team and has been in escrow since 5/8/09).

If you’re in the market for a property in Big Bear, or if I can help in any way feel free to call or email me.


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