Another gorgeous weekend has past in Big Bear Lake and surrounding areas. Both days were absolute perfect with deep blue skies and warm temperatures. I attended "Friday Nights in the Village" on Friday night and it was a blast! The Village merchants stay open until 9:00pm on Friday nights. There are singers and bands about every half a block on the sidewalks and many visitors were dancing. It was very festive. I had an "Ike's" hot dog from a street vendor and by the way, it was good! It appeared that the people walking the streets were having fun. There were lots of families with children as well as older people and I thought it was great! I ran into several old friends while I was there. I understand this affair will go on for about another month. I hope you get a chance to browse the Village one of these Friday Nights!
Until next time, BB
Monday, August 17, 2009
Monday, August 10, 2009
If you were here in Big Bear on Saturday and got to see those gorgeous old cars you had a rare treat! There were more cars for the antique car show this year than I have ever seen in Big Bear. They were terrific. Then at 3:00 p.m. they had a fun run around the lake and lots of people were gathered on the main highway to watch the cars drive by! It was great fun and oh, so many memories. Like the Oldsmobile 88's which were the car of choice when I was in high school. Such a shame that they don't make them any more. Boy, did they have an engine! Very fast and powerful. I am sure your dad's and your grandpa's cars were at the show.
The wooden boat show is coming up soon here in town. Old boats like the "crisscraft", I am not certain of the spelling. They were beautiful, highly varnished boats with inboard motors with lots of power. As I remember Oldsmobile engines were used in many boats in the past!
There are so many things going on in Big Bear this summer, like the movies on the beach, music at the park events, the car and boat shows and next month the Oktoberfest will begin. Besides the hiking and biking and boating there are always other things to amaze and amuse on the weekends. We have a marathon coming up in September, "Run the Bear", if you dare! So, what are you waiting for? Get up to Big Bear and have some fun this summer and fall!
Until next time, BB
The wooden boat show is coming up soon here in town. Old boats like the "crisscraft", I am not certain of the spelling. They were beautiful, highly varnished boats with inboard motors with lots of power. As I remember Oldsmobile engines were used in many boats in the past!
There are so many things going on in Big Bear this summer, like the movies on the beach, music at the park events, the car and boat shows and next month the Oktoberfest will begin. Besides the hiking and biking and boating there are always other things to amaze and amuse on the weekends. We have a marathon coming up in September, "Run the Bear", if you dare! So, what are you waiting for? Get up to Big Bear and have some fun this summer and fall!
Until next time, BB
Saturday, August 8, 2009
Again, I have been remiss in blogging! Business is all consuming at this time of the year. That is great; however, there isn't enough time to do everything.
Last Sunday's "Old Miner's Day" parade was great! It was hot but no rain or clouds. It was a perfect day for a home town parade. The parade ends the two week "Old Miner's Day" celebration. I always feel a little sad after it is over because I know that marks the nearing of the end of summer. I love summer in Big Bear. It is not too hot and you need a blanket at to keep warm. Summer is beautiful here with all the native shrubs and flowers blooming. It can be very bleak in the winter months but we have those gorgeous deep blue skies all year long. I think anyone living or vi sting here is very lucky to have clean air and the four seasons!
I want to speak to sellers in Big Bear right now. Many of you own your cabins free and clear or owe very little on them. If you are considering selling, let me ask you a question. Have you thought about, "Owner Financing or Owner Will Carry" on your property? Now don't get scared! The current problem with foreclosures and bank owned properties was two things: first, the banks loaned 100% on the houses so the buyer had nothing invested in the property. Two: the banks didn't even ask if the borrower had a job or sufficient income to repay the loan. So, forget about the banks, they were very eager to make large profits and they forgot about the principles of lending.
That said, I will explain why this could be a wonderful deal for you and for the buyer. Let's say you are in a position to finance for the buyer. We would put the terms you wish in the listing and when we receive offers you then can make the decision if you want to carry for that particulars buyer. Remember, you know the property you are selling well, why not finance on a property you are familiar with. You could expect to receive an offer very close to full price, get 20% down which is what the bank requires now, and receive between 7.5% to 9% interest on a first trust deed and 10% to 11% on a second trust deed. If you didn't really have any real need for the cash after closing this could be a very good way to sell your property quicker as well as for a higher price. Of course, you would see the buyer's credit report and there would be a built in due on sale clause and a late charge. The note generally addresses most of these items. It is such a sweet deal for the seller. The tax advantages are great too. It is treated as an installment sale and you pay the tax you owe as you collect it. Remember the time vs money theory...money today is worth more than money down the road. When you are paying the money you want it stretched out as long as possible. If you just sell the property outright your capital gains is due now. Unless you have a real need for the cash it would behove you to finance for the buyers. If you have questions about this type of sale please e-mail me or call and I will explain it.
In my next blog I will explain the buyers side of "Owner Finance".
Until next time, BB
Last Sunday's "Old Miner's Day" parade was great! It was hot but no rain or clouds. It was a perfect day for a home town parade. The parade ends the two week "Old Miner's Day" celebration. I always feel a little sad after it is over because I know that marks the nearing of the end of summer. I love summer in Big Bear. It is not too hot and you need a blanket at to keep warm. Summer is beautiful here with all the native shrubs and flowers blooming. It can be very bleak in the winter months but we have those gorgeous deep blue skies all year long. I think anyone living or vi sting here is very lucky to have clean air and the four seasons!
I want to speak to sellers in Big Bear right now. Many of you own your cabins free and clear or owe very little on them. If you are considering selling, let me ask you a question. Have you thought about, "Owner Financing or Owner Will Carry" on your property? Now don't get scared! The current problem with foreclosures and bank owned properties was two things: first, the banks loaned 100% on the houses so the buyer had nothing invested in the property. Two: the banks didn't even ask if the borrower had a job or sufficient income to repay the loan. So, forget about the banks, they were very eager to make large profits and they forgot about the principles of lending.
That said, I will explain why this could be a wonderful deal for you and for the buyer. Let's say you are in a position to finance for the buyer. We would put the terms you wish in the listing and when we receive offers you then can make the decision if you want to carry for that particulars buyer. Remember, you know the property you are selling well, why not finance on a property you are familiar with. You could expect to receive an offer very close to full price, get 20% down which is what the bank requires now, and receive between 7.5% to 9% interest on a first trust deed and 10% to 11% on a second trust deed. If you didn't really have any real need for the cash after closing this could be a very good way to sell your property quicker as well as for a higher price. Of course, you would see the buyer's credit report and there would be a built in due on sale clause and a late charge. The note generally addresses most of these items. It is such a sweet deal for the seller. The tax advantages are great too. It is treated as an installment sale and you pay the tax you owe as you collect it. Remember the time vs money theory...money today is worth more than money down the road. When you are paying the money you want it stretched out as long as possible. If you just sell the property outright your capital gains is due now. Unless you have a real need for the cash it would behove you to finance for the buyers. If you have questions about this type of sale please e-mail me or call and I will explain it.
In my next blog I will explain the buyers side of "Owner Finance".
Until next time, BB
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