Big Bear Lake is at its fullest in over a decade

Excerpts from Orange County Register and KNX News

“We are three feet 10 inches from capacity, and we haven’t had these water levels since May of 2011,” Visit Big Bear’s Travis Scott said.

After hitting record lows two years ago due to drought, Big Bear Lake reported a 10-foot increase in its water level in December 2023 and new data shows it’s risen even higher the first four months of 2024. In December 2022, the water level at Big Bear Lake was just below 55 feet, officials said. Two consecutive winters brought heavy storms in early 2023 and 2024, resulting in significant rainfall and snowpack that have helped restore the lake after water levels hit a record low in late 2022.

Video: Big Bear Lake before and after a 15-foot increase in water depth thanks to winter storms

Video by Jeff Gritchen/Orange County Register/SCNG

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Big Bear Real Estate is a proud partner with Big Bear Vacations. Together, the two companies offer unparalleled service to our clients who invest in income-producing vacation rental properties in Big Bear. The agents at Big Bear Real Estate are the most qualified real estate professionals in Big Bear to educate and consult with buyers and investors who want to diversify into resort market real estate ownership. The staff at Big Bear Vacations has specialized knowledge of what criteria will make a good vacation rental and how to maximize the return on investment.

Sales & Marketing Manager Kim Hermon gives a brief rundown of what Big Bear Vacations has to offer.

Located in the beautiful log building on Big Bear Blvd, just west of Summit Blvd, Big Bear Vacations is the top rated full-service vacation rental property management company in Big Bear Lake.

Big Bear Vacations understands resort market investment property and is positioned to help property owners reach their investment goals. BBV manages all types of vacation rental properties, from small cabins to large luxury homes.

Big Bear Vacations offers a full in-house housekeeping department, maintenance department, guest service department, and also a 24/7 call service center.

Kim and the entire staff at Big Bear Vacations are knowledgeable, experienced, and happy to help vacation rental owners prosper with their investments.

Savvy investors always have trusted advisors

Put Big Bear Real Estate and Big Bear Vacations to work for you and feel confident that you and your vacation rental investment property are in good hands.

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Discover the advantages of investing in a tiny cabin in Big Bear Lake, California. With manageable costs, high rental demand, and predictable usage, tiny cabins offer an excellent entry point into the vacation rental market.

Why Choose a Tiny Cabin Investment?

• Lower Costs: Tiny cabins are more affordable to purchase, furnish, and maintain. Lower utility bills and maintenance expenses make it easier to achieve your desired return on investment.

• High Rental Demand: There’s a limited supply of charming one-bedroom or studio cabins in Big Bear. These properties are highly sought after by couples seeking romantic getaways, ensuring consistent occupancy rates.

• Predictable Usage: Renters of tiny cabins are typically couples looking for a quiet retreat, resulting in less wear and tear on the property. This predictability simplifies property management and maintenance.

Maximizing Your Investment

To make the most of your tiny cabin investment, consider the following:

• Location: Proximity to the lake, ski resorts, or the village can enhance rental appeal.

• Amenities: Features like hot tubs, fireplaces, and cozy interiors attract renters.

• Marketing: Target your listings toward couples seeking romantic mountain getaways.

We’re Here to Help

At Big Bear Real Estate, our team specializes in resort market investments. We can guide you through the process of selecting, purchasing, and managing a tiny cabin to ensure a successful investment. Contact us today.

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Big Bear Real Estate market snapshot for the month of March 2016

The median sales price of single family homes in March decreased by 6% compared to the previous month, average sales price was down 2% from February, though was 2% higher compared to the average sale price over the first quarter of 2015.

List Price vs. Sale Price and Days on Market

Properties sold in March went for 97% of the asking price after 118 days on market on average, compared to 98% and 108 DOM in February.  The list-to-sell price ratio was 97% on average over Jan-Mar 2015.

Big Bear Inventory Trends

Total inventory was up 5% month over month.  There were 45 more new listings in March than in February.  The total number of homes on the market last month was about the same as it was in March 2015.  Distressed listings, bank-owned and short sales, continue to account for less than 1% of the inventory.

Home Prices By Quarter

The graph below shows average and median home prices in each quarter since Q1 2011.  We can see that home prices have risen fairly steadily over the last several years.  It is interesting to note how significantly prices dipped in the second quarter of 2015 and then raised again for the rest of 2015 and Q1 2016.

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 5 Considerations For The Luxury Vacation Home Investor

Luxury vacation homeowners often have mixed feelings about placing their fine homes on a vacation rental program, especially when a revenue return was not necessarily a requirement for making the investment. There is a significant demand for high-end vacation rental properties in the Big Bear market. Renting out a luxury vacation home, even part-time, can benefit the investor in more ways than just a revenue return. The following 5 points touch on ideas that just might make the squeamish luxury vacation homeowner rethink this niche.

1. Local Property Management

Whether you rent out your Big Bear luxury cabin or not, you will need some level of local property management for your investment. Full-service vacation rental companies, such as Big Bear Vacations, offer comprehensive property management for their clients. Snow removal, weed abatement, or emergency matters such as fire, weather, or security, are just a few reasons you need to have a local resource keeping an eye on your property.

2. Expect Excellence

Your luxury property has the potential to generate an significant return for you and your vacation rental management company, so it is warranted to expect excellence. Identify your bottom line zero tolerance concerns and make sure you will not have to worry about them. If you do not want pets in your home, ask your vacation rental management company candidate what they do to ensure that pets will be disallowed. If damage to your cabin or items in your cabin is a concern, ask your management company what they do to prevent and/or repair issues that could come up. Establish clear boundaries and expectations upfront so key concerns can be addressed in a manner that will set you up for the best possible professional partnership with your vacation rental management company.

3. Controlled Use

There are many ways to control the use of your luxury cabin to help ensure the risk of problems is kept to a minimum. Pricing above the average for comparable properties, limiting the number of guests you allow to stay in your cabin, and limiting the times it is available to rent, are ways to help keep all but select renters from renting. If your property can sleep 14 but you only allow it to sleep 8, you will be capturing renters who will pay more to accommodate a smaller group. Make sure your management company ensures that your requirements are being honored and respected by the company and the guests.

4. Building A Rental History

When the time comes to sell, an established rental history with “turnkey vacation rental” status (ready to rent, registered and fitted for the purpose of renting) will add to your ability to capture the best buyers and price for your property. For every luxury vacation homeowner in Big Bear who does not want to rent, there is one who absolutely does. All things being equal, the cabin that is ready to rent will sell faster than the one that is not.

5. Tax Advantages

This is perhaps the most relevant reason to have your Big Bear investment property on a vacation rental program. A second home, if not classified and utilized as an investment property, must pay capital gains tax when sold. The property can be sold as part of a tax-deferred 1031 exchange for another investment property without capital gains consequences if it is a vacation rental property that generates a revenue return. Only a minimal amount of use will qualify your luxury vacation rental property for a 1031 exchange (i.e., the property may only be required to be rented for 14 days/year), so this can benefit the investor who wants to keep renters to a minimum. Make sure to consult with your tax professional if considering a 1031 exchange.

Have Your Cake And Eat It, Too

The luxury vacation homeowner need not lose the quality of their personal use experience if he is clear on his personal needs and is partnered up with the right management company. With a little preparation and proper expectations, the luxury vacation home investor can benefit from using his or her property as a vacation rental.

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Return On Investment

Investing in a second home can be a lucrative way to build and diversify your investment portfolio. Owning a home in a resort market like Big Bear can have additional benefits, especially if you know how to maximize the potential for return on your investment. Purposeful and focused management of your investment property as a vacation rental can yield significant returns, financially and otherwise, for you and your family.

Maximize Your Potential

To maximize the income-generating potential of your investment property, you will need to make some sacrifices when renting it out. Here are some things you should consider:

1. People typically vacation on weekends and holidays, often during the same times of the year that you would like to use your vacation home yourself. Remember that for every hot holiday weekend you or your family members are using your vacation home, you are missing out on earning potential revenue from a renter.
2. Second homeowners can feel uncomfortable about others using their treasured mountain retreat, especially people they don’t know. This is a mental obstacle that can best be overcome by adopting an investor’s mindset and understanding that the investment itself is made feasible because of its income-generating potential. You can also address this challenge by limiting rental availability (this will always impact the bottom line) or, agree that there will be a point in your ownership that rental income is no longer necessary.

The Head And The Heart

I tell my investor clients that purchasing a resort market investment property can be fun and exciting, but can also be conflicting. The first order of business when pursuing a resort market investment property is to reconcile the head and the heart. The buyer’s heart is drawn to the quiet escapes from the rat race, creating memories, and the joyous integration into a mountain resort community; his head is crunching numbers. How much of the decision to purchase must be driven by critical thought and how much can be for the LOVE of Big Bear? That question has different answers for everyone. Once a buyer/investor is clear on this, then the cabin hunting can begin!

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