Big Bear Real Estate
All of Your Big Bear Lake Real Estate Buying, Selling & Management
Big Bear Real Estate, Big Bear Lake, CA
Bear Real Estate - Investing with a vacation rental
Turn The Dream of Second Home Ownership Into Reality.
in a vacation rental can be a very rewarding experience. You can own
an asset that you get to use and enjoy – Big Bear resort real
estate – while that same asset can help pay for itself and appreciate
in value. Big Bear Vacation rentals, also called resort rentals, are
single-family homes, cabins, and condos that are offered for rent on
a short-term basis. This distinctive type of vacation accommodation
has many advantages to the consumer and property owner, and vacation
rental use is strong compared to all sectors of the travel industry.
Bear Vacation rentals offer large living spaces often with multiple
bedrooms, kitchens, and unique floor plans and décor. Many include
their own private outside areas such as patios, decks, and yards. Also,
because of the recent tumultuous events throughout the world and in
the United States, there is a heightened sense of security in staying
at a single-family home or small lodge when compared with the high profile
of large hotels and resorts. In addition, many people are reluctant
to travel far for vacations. Accordingly, resort areas in the contiguous
United States, especially drive-to areas like Big Bear Lake, are seeing
higher demand for accommodations. These factors have caused an increase
in demand for the unique amenities presented by vacation rentals –
especially those located in resort areas, such as Big Bear, that are
only a few hours driving time from major metropolitan areas.
rentals are usually just a second home owned by a private party and
managed by a professional rental agency. Thus, Big Bear vacation rentals
offer a convenient route to owning a second home. And second home
ownership is on the rise.
to the National Association of Realtors® (NAR) Profile of Home
Buyers and Sellers, in the first quarter of 2003, 15 percent of homebuyers
were either buying a second home, owned a second home or were buying
a new primary residence and keeping their existing property as a second
home. According to the 2002 NAR Profile of Second-Home Owners, nearly
one-third of all these second-home owners use their properties as
an investment or income-producing vehicle. NAR further declares that
second homes have been outperforming the stock market recently. For
example, in 2002 the median price of second homes had risen 26.8 percent
in two years, and that is at a time when the stock market saw diminishing
buying a second home the most important thing is to buy the home because
you really want to own and enjoy the property. Making your second
home in Big Bear a vacation rental will help offset the costs of ownership
– mortgage, taxes, maintenance, and other expenses – but
it is unlikely your vacation rental will pay for itself entirely.
And there are ways to improve the profitability of your investment.
Location is the primary factor to consider when looking for a good
potential vacation rental.
vacation rentals are obviously located in areas where people want
to vacation. Resort areas are the natural choice. Availability of
many activities is important, and if there are activities associated
with more than one season the potential number of rental days increases
dramatically. An area that has skiing, hiking, biking, shopping, a
lake or beach, and boating is a best bet. And as noted above, a location
that is only a few hours drive from one or more major metropolitan
areas is ideal.
next most important factor is finding a good property manager for your
Big Bear real estate investment. Finding a professional, experienced,
and successful property management company is easy if you follow some
look at what services the management company provides its guests.
Do they provide housekeeping, or does the guest have to clean up after
themselves (and if maid service is not provided, do you want to trust
a guest to do a good job). Is guest check-in easy – does the
management company have a nice office with convenient hours, or is
a key left under the doormat. Are linens, soaps, and other amenities
provided, or does the guest have to bring their own. Remember, the
easier it is for a guest to enjoy their vacation, the more guests
– and rental nights – your house will have.
how does the management company get those guests. Marketing is what
generates sales, so look at the type and quantity of the company’s
marketing. Are they on the Internet, and is their website easily found
with a simple search. Does the company advertise on television and
radio. Do they use direct mail and print advertising. Do they have
billboards or other outdoor ads aimed at the motorists of the drive-to
market. All of these types of marketing are important when it comes
to filling beds.
management fees (the percentage of the reservation that the management
company keeps for its services) vary by area and company. And while
the amount of the fee is a consideration, a higher fee doesn’t
always mean less money to you. So focus on the estimates of how much
money you will net, not on the amount of the fee itself. Often a company
that charges a little more can afford to offer much more marketing
and guests services, and will have higher occupancy rates.
you have found the location and the management company, its time to
find your second home. Remember, make an informed buying decision,
not an emotional one. Rely on the advice and counsel of your chosen
professionals: your accountant, attorney, mortgage broker, and insurance
agent. Find a real estate agent that knows the not only the sales
market, but also the rental market. Ask your chosen management company
for guidelines on what neighborhoods, property styles, and décors
are the most popular with renters. Then use this information to find
a house or cabin that you really want to own and enjoy – and
you’ll be on your way to having a second home that can help
pay for itself while it appreciates in value