Key Insights on Mammoth Lakes Real Estate
This 3 bedroom and 3 full bath and 2-car garage townhome is in super clean condition. I call it a deluxe crashpad because that is what it is; great utility with compact, modern efficiency. The project was built in 2006 by Presson Construction of Mammoth Lakes. So this light-and-bright tri-level townhome was built to modern construction codes and quality. It has forced air gas heating, gas cooking … [Read more...]
Real estate can be a funny business, especially in Mammoth. As I often tell people, the local market is for the most part a “don’t have to buy, don’t have to sell” marketplace. Only with truly distressed sellers do we find real motivation. Because most buyers are second homeowners or investors, the sense of urgency is diminished. Thankfully, the intent of real estate agreements compels … [Read more...]
Mountain Meadows #26 -- This new bank owned REO may not be in Mammoth Lakes proper but it is located in the same zip code. This is located in the community of Crowley Lake. These spacious townhomes were originally designed for more local-resident-type living but because of their current values and tremendous utility, they can make great crash pads for second homeowners. This particular floorplan … [Read more...]
Broker’s Report, Nov. 12––Snow anxiety fills the air here in Mammoth. For many it is the anticipation of cold air rushing past their face while hearing the crunch of fresh snow under their bases. For others it is financial: will the winter provide the necessary cash flow to service mounting debt? The anxiety for some is a question of readiness. Contractors, property managers, even the Town … [Read more...]
Some things just torture me. And a recent article in the Mammoth Times about a new business for sale just irked me. I just really have to ask myself how this came about? This was a gross disservice to these owners and potential sellers. What were the editors thinking? I’m criticized for being candid to a fault, but this was abusive. And where was the broker who represents them? Why didn’t he … [Read more...]
Summertime in Mammoth provides some humorous glimpses of human nature. And after all who really cares--––--these people are on vacation. The first location, of all places, is in VONS. Sometimes I think I frequent there just for the entertainment. In summer there seems to an especially large number of folks who are obviously not regular visitors to supermarkets. Often they are middle-aged men … [Read more...]
Sometimes life in the small town of Mammoth becomes a bit bizarre, and the dog days of this summer have found us here again. Too many lovers of life have recently lost their lives. And just when we thought financing properties couldn’t get much more difficult (at least in this decade), our “go-to” mortgage banker over the years has passed away. The vacuum in the local market is substantial … [Read more...]
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...]
Some of the folks who regularly quiz me about Mammoth real estate think I have lost my mind. When prodding me for ideas about “opportunities” I have recently suggested watching the Westin Monache condo hotel project. What? (Paul HAS lost his mind!) But I didn’t say start buying––I said start watching. Here’s what I see and potentially foresee. First, from what I can see, feel and … [Read more...]
This Real Estate Q&A appeared in this last weekend's issue of The Sheet under the headline "Maybe a Trip to Mexico Is a Good Idea". That was the Publisher's banner. I originally titled it Asleep At The Wheel? Both are appropriate. Q: In a very recent column you stated that the spring buyers “have exited for the most part and there won’t be any volume of buyers looking until late … [Read more...]
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