Finding Your
Big Bear Lake Residence
Big
Bear Valley real estate has gained tremendous value over
the last couple of years.
Buying in the Big Bear Valley is
a smart investment when it comes to real estate appreciation.
The confines of the surrounding landscape are expected
to continue to push home and land prices upward. The
area market
looks strong and stable for the future, interest rates
remain low and real estate values are appreciating. Now
is a great
time to buy or sell in Big Bear.
Here
is some information about our economy: Big Bear is a resort community and as a result the majority
of housing in Big Bear is owned as a second home. Of the
total 20,352 housing units, approximately 65.1% are vacant
(second homes), 25.2% are owner occupied, and 9.7% are
renter occupied. The median home value was $207,425 in
2004 with an average value of $262,416, compared to $134,947
and 171,289 in 2000, respectively.
Future population and
economic growth is expected to outpace that of the past
based upon the forecasted growth for the
Inland Empire (both San Bernardino and Riverside Counties).
The Inland Empire remains one of the fastest growing
regions in the nation. Out of the 3,100 counties in the
nation,
Riverside ranked 3rd and San Bernardino ranked 6th in
terms of absolute population growth between 2001 and 2002. Travel
(hotel and amusement) and retail are by far the largest
business segments in Big Bear, accounting for 29.8%
and 28.0% of Big Bear’s 2000 employment, respectively.
Combined, these two segments account for 58% of Big Bear’s
2000 employment. These segments also experienced the largest
employment gains from 1991-2000, indicating the fastest
growing segments. The travel segment gained 560 employees
during the 10-year period, with retail gaining 373. The
next largest growth occurred in the finance/real estate
segments with a gain of 128. Approximately 64% of all job
growth from 1991-2000 occurred in the travel and retail
segments.
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