Read below to find out if buying a U.S. Forest Service cabin is for you…
Ever dream of having a secluded rustic historic cabin in the woods here in Big Bear Lake for less than half the cost of a traditional home in Big Bear? According to the Big Bear MLS, the current average price for a residential property in the City of Big Bear Lake is $396,000 dollars for the month of July of 2011. This week our company opened a new escrow for a U.S. Forest Service cabin here in Big Bear Lake with a listing price of $89,000 dollars. This home featured 2 bedrooms, 1 bath, a vintage rock fireplace, washer/dryer hookups, a two-car garage and a terrific views of the lake and both mountain ski resorts.
Ok, so you want to know more about these land lease cabins? Well, to begin the lease period is a 20 year renewable lease, (many owners have owned these cabins more than 60 years!)…the current lease runs from January 2008 to January 2028 and can be renewed to 2048. The annual lease amount is between $850-$2700 a year depending upon the cabin.
The inside of the cabin can be updated to the owners wishes, though the outside is required to remain in the historic style. Any outside upgrades or increasing the size of the cabin, owners can place their request with the forest service here in Big Bear. Other terms with the forest service is this cabin is supposed to be a 2nd home and it cannot be used as a full-time or vacation rental.
What buyers must be aware of is the inability to obtain a loan on these cabins because the owner owns the cabin, but not the land that the cabin sits on. Financial institutions do not make loans on properties where the land is not owned by the owner. Instead, buyers purchase these cabins with 100% cash or they use an equity line from one of their personal properties or they can ask the current owner to carry a note.
Currently, here in Big Bear, there are 19 listings for sale with a price range from $125,000-$395,000 dollars. These homes are located on both shorelines, some have dock rights, some are lakefronts and some have lakeviews and yet there are other cabins so secluded and tucked away in the San Bernardino Mountains.
For more information on any of these listings or if you would like me to send pictures of these Big Bear listings, please give me a ring or go to our government land lease cabins section … of course there is much more information I can inform you about as this article’s purpose is to introduce you to our special lease cabins here in Big Bear Lake!
Windermere Real Estate
Big Bear Lake, CA