The Mammoth foreclosure pipeline will soon take a respite of unknown duration. It’s all part of the ongoing “controlled burn.” The California Legislature is the major culprit this time. I’m not complaining, this happened last summer and it made for a enjoyable summer after a busy fall, winter and spring. Regular real estate keeps me busy enough. But the new California Homeowner’s Bill of … [Read more...]
Mammoth Foreclosures 8.0. Nightmares Abound and More Twisted Operation
January 19, 2013 By Leave a Comment
My original slogan of “expect the unexpected” in the foreclosure and REO realm has recently moved in more twisted directions. While the slow turn of distressed properties continues with owners continuing to occupy properties for REALLY extended periods without making payments, now some of the banks and lenders are actually making it more difficult for qualified buyers to purchase their REOs. … [Read more...]
Mammoth Foreclosures 7.7––The (Potential) Buyers and Rolling The Dice!
October 25, 2011 By 1 Comment
The REO circus of the last two weeks has exposed and verified a few growing trends in Mammoth real estate and specifically the foreclosure and REO markets. While the banks and investors who own these properties are unemotional, methodical and have a very structured sales process, the (potential) buyers are quite another story. I’ve talked to dozens in the last couple of weeks and I can assure … [Read more...]
Mammoth Foreclosures v7.0–Where are the screaming deals?
May 28, 2011 By 1 Comment
The controlled burn of foreclosures in Mammoth flames on but the buyers looking for the screaming deals continue to be discouraged, but it is all relative. And what would a “controlled burn” be without things getting out of control just a little bit? The media, and especially the real estate related media, is full of stranger-than-fiction foreclosure stories. The stories range from indignant … [Read more...]
Real Estate Q&A––Double-Dip or Long, Strange Trip?
July 3, 2010 By 3 Comments
This Q&A appears in this weekend's Fourth of July issue of The Sheet. The winter/spring precipitation and recent lovely weather have made the Mammoth area and the Sierra simply gorgeous and it is certainly an epic year for wildflowers. Many have asked how the fishing was.....June once again provided outlandish fishing, caught dozens of sharks and numerous birds, but between them managed some … [Read more...]
Mammoth Foreclosures 4.0––Walk-Aways and Weasels
March 2, 2009 By 3 Comments
This column has been delayed several times by work duties, showing property, great ski conditions, and my ongoing attempt to understand how the Stimulus and Housing Bills and foreclosure intervention by the government will ultimately affect the Mammoth real estate market. My summation at present: the artificial delay of many foreclosures that began early last fall will now only further postpone … [Read more...]
Mammoth Foreclosures 3.0––Let The Games Begin.
July 14, 2008 By 13 Comments
The past few weeks have become more and more exciting in the Mammoth Foreclosure realm. From attending Trustee’s Sales (aka auctions), to “cash-for-keys” negotiations between lenders and former owners and tenants, to sometimes disgusting “trash-outs”, to seeing happy new owners settling into a once-foreclosed property, there are few dull moments. And the paperwork, endless forms, and … [Read more...]
Broker’s Report, June 16, 2008
June 16, 2008 By 24 Comments
Broker’s Report June 16––I’ve got plenty to say this time around so bear with me. I’ll try to be concise. I’ll cover ground including the very interesting current market conditions, the ongoing development planning in Mammoth, the anticipated effect (my guess) of escalating gas prices on Mammoth, the latest and perhaps desperate maneuvers by local real estate “professionals” that … [Read more...]
Mammoth Foreclosures 2.0––The First Inning
April 3, 2008 By 5 Comments
Foreclosures are reaching record numbers in many real estate markets, some to the extent that foreclosure numbers are exceeding actual closed sales. Seeing those kinds of statistics can be shocking. Clearly, the values in those markets will be greatly impacted by the volume of foreclosed properties. That is why I have been intensively watching and reporting on that segment of the market for the … [Read more...]
Broker’s Report, Feb. 5
February 5, 2008 By 5 Comments
Broker’s Report Feb. 5––Lots of good and interesting things to talk about. Snow. January was a snowy and windy month and it has spilled into February. Mammoth has solid snowpack on the ground and good skiing is guaranteed through spring and the winter certainly won’t be labeled drought. It is creating buzz. And the snow has brought real estate activity with it. Real estate sales. The … [Read more...]
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