Newest Listings from Mike Dolan & Associates

Newest Listings from Mike Dolan & Associates

Monday, April 9, 2018

April 2018- The Big Bear Report

The Big Bear Report- April 2018

 
FEDS RAISE INTEREST RATES: WHAT THIS NEWS MEANS FOR MORTGAGES:
Last week the Federal Reserve voted to raise its short-term interest rates, likely resulting in more mortgage rate increases to come.  The Fed rates are not directly tied to mortgage rates but tend to follow 10 year Treasury bonds. However, mortgage rates are often influenced by the Fed rates.
The Feds increased its federal fund rate from 1.5 percent to 1.75 percent, which is the highest level since 2000.  The Feds marks the first of what many economists predict will be three rate hikes this year.  Some economists are predicting federal funds rate to be at 2.1 percent by the end of the year.
Mortgage rates do not move one-on-one with the Fed tightening, but clearly consumers should anticipate higher mortgage rates as time proceeds. Mortgage rate hikes have already become a near weekly occurrence in 2018. Mortgage rates have risen every week since the start of the year, with last week being the exception.
Couple this with many enacted limitations on deductions for state and local income and property taxes, as well as for mortgage interest deductions is causing some buyers and sellers to rethink their next move (especially in high tax states like California, New York, Illinois, Massachusetts and New Jersey).
The new tax law fundamentally alters the benefits of homeownership by nullifying incentives for individuals and families. Without engaging in “crystal ball talk,” this should concern any middle class family looking to claim a piece of the American dream.
On the Big Bear front, 239 homes sold the first quarter of 2018, predominately in the $200,000—$400,000 price range. We have definitely seen less activity in the market this year compared to the last quarter of 2017. As interest rates continue to climb, the Big Bear market tends to slow down. However, as long as inventory   remains low (331 homes currently on the market), prices should stabilize, making 2018 the perfect storm to sell at peak prices.
Until next month, see you at the top!
(Photo courtesy of Summer Sheffield) 

Friday, April 28, 2017

Our latest review....

Here is our latest review from another satisfied customer:

"One of the best experiences I have had! We weren't local and the entire office provided excellent service the entire time.  They went above and beyond!"

-Cathy S.

Friday, March 31, 2017

Our latest review...

 

 5 Stars

  • 5 Stars
  • 5 Stars
  • 5 Stars
  • 5 Stars
Handled the sale of our property very efficiently.  Negotiated on our behalf to make the sale.  Would recommend Mike to any and all who need to sell a property in the Big Bear, CA area.
 
 

Thursday, March 23, 2017

Nothing like a spring snow!

We woke up to an inch of snow, on this, the third day of spring.  Temperatures are going to be creeping back up into the 50's by the week's end and the sun will be shining.  The lake is rising day by day with the runoff from the mountains and will officially "open" on April 1st.

Friday, March 3, 2017

Fun Weekend Straight Ahead...

The 6th annual Freezin for a Reason Polar Plunge for Special Olympics will be taking place on Saturday, March 4th at Veteran's park in Big Bear Lake.  Click here for more information on this event.

It has been a beautiful week here in Big Bear with spring-like weather.  The slopes are open and there is plenty to do in the mountains. The Pink Floyd tribute band, Which One's Pink, will be performing at The Cave on Saturday night.  Come enjoy the fresh mountain air, a little sunshine and some.  Don't forget to call Mike Dolan & Associates at 909-866-6453 if you are interested in purchasing a vacation or permanent home here I Big Bear.  We can help you find exactly what you're looking for.

Friday, February 17, 2017

More Winter Weather Coming Our Way...

The Big Bear Valley has received 80" of snow  (our average is 62") and 11.9" of rain so far this season and there is more on the way! All of this precipitation is very welcome in Southern California, especially Big Bear.  The more snow and rain we get, the better.  The creeks around town are flowing into the lake bringing the lake levels up.  At the end of December 2016, the lake level was 16.65' down from full.  Today, it is 13.9' down from full.  That is quite a rise in such a short time.  We hope to keep that momentum going.  There is water in Bakers Pond once again.  If you live in the Baldwin Lake area (the dry lake on the east end of the valley), you now have a lake view as it is filled with water!  Even though it has made it difficult to get around at times we welcome the rain and snow. KEEP IT COMING MOTHER NATURE!

Wednesday, October 19, 2016

October in the mountains!

What a great time of year to be in Big Bear.  The weather is cooler (but not cold yet), the leaves are changing (and falling), and there are still plenty of activities going on to keep you busy during your stay.  Right now the world-famous Big Bear Oktoberfest is being held at the Big Bear Convention Center.  This even draws thousands of people each weekend.  Great for old and young alike.  If you fall in love with Big Bear, as many people do, and would like to look at the real estate that Big Bear has to offer, give Mike Dolan & Associates a call.  We are here to help you find the home of your dreams. Call us today at 909-866-6453.