Big Bear California

Posts Tagged ‘Big Bear’

Question: real estate question, its long sorry, would like an opinion, we live in lake havasu city az?

we were renting a big 4 bdrm house with a huge pool and nice lake view for 800 a month, my wifes friends who are realtors told her in dec 2005 that she has to buy now or get left behind, she found a 1966 4bdrm 1 car garage fixer upper for 205.000, our payment doubled from 800 a month to 1700 a month, i told her if we wait and put the extra money in an interest bearing account that in 2 years the market would fall and we would be in a much better buying position on a new house, with no fixing to do, she didnt listen and signed some papers without me, well the market has fallen and new homes here are about 225,000 with 3 car garages,, was this a mistake on her part, whats sad is we have a 1 car garage, only about 10 people in town have those,, everybody else has monster garages,, thanks to all that answer

Answer: Well, you were a victim of timing. The good news- real estate is cyclical. The market should come back in a year, or two. You don’t lose anything until you sell. If you don’t want to stay in the home, think about making it a rental until the market comes back. Don’t be so quick to cut your losses and run. Talk to some contractors to see if it is possible to add on to your garage, or maybe it would be better to convert it to living space and go without a garage. Either way, speak with someone who is an expert on your community, and not the wife’s friend!

Big Bear Lake, California Real Estate for Sale Video House T