Mammoth Foreclosure of the Week | Meridian Court #F202

Meridian Court F202 — Okay, it’s been a little more than a week but I’ve been busy. Seems most of Mammoth has tried to escape to the Tropics or someplace warm and I can’t blame them. My turn comes at the end of the month. But here is something interesting. My readers know I am fascinated by the “crashpad” concept here in Mammoth. A crashpad is the term I use for something that is in demand: a small condo as a second home and more utilitarian and efficient than luxurious. Because after all the owners intend to spend their time outdoors. A Mammoth crashpad needs a bathroom, a kitchen, a bed and a place to drop a laptop. Even better if it is warm. And a garage might be the ultimate. So here it is…

The Meridian Court project is a new opportunity for second homeowners. Originally built and sold in 2006 (at the peak of the market) as part of Mammoth Lakes Housing “affordable housing” stock, these unit are now coming back to the market as bank owned properties. And the deed restrictions have been lifted. So here is a new crashpad opportunity. This is a small 1-bedroom unit, it is upstairs, it has gas heat, and it has a garage, and a relatively low common area fee. It even has new paint and carpet. Right now the bank has it priced at $115,000. But it has (and will have) competition within the project. Somebody is going to score some nice little crashpads in the near future. And just steps out the door to the Meridian shuttle right to Chair 15/Eagle. What more could a powder hound want?

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