The  Mammoth Lakes MLS is reporting 16 real estate closings for the period ranging from a low of $205,000 to a high of $1,775,000. Of the 16 escrow closings, all 16 were financeable properties and 10 were conventionally financed. Six (6) of the 16 closings were condos selling under $500,000. For early August, the Mammoth real estate market remains very consistent with the activity of the past two years. The 10-year Treasury rate bounced around during the period and actually settled settled under 2.9%.

The Bluesapalooza week and event has come and gone through the period. It looked to be about the same success as last year but the smoke from forest fires has definitely subdued summer business. We won’t know to what extent until all the sales tax and bed tax numbers come in. I was in Reno and north Lake Tahoe last week and it was just as bad, if not worse, up there and everywhere in between. The drive south was all smoke. Mammoth’s air quality changes during the days based on air flow. Some days it hasn’t been that bad but there have been some bad periods. Mammoth’s elevation and the “funnel” that is the Mammoth Pass certainly creates changing air flows. The most immediate fires (Lions and Ferguson) to Mammoth Lakes are coming under greater containment but they aren’t likely to be truly out until there is some snow or significant rain.

The construction at Canyon Lodge now has the entire parking lot closed off as a construction zone. Looks like this years’s improvements will be more than just a new escalator. One of my clients will be doing some sub-contracting work on the project and he said the out-of-town general contractor is “extremely professional” and they desire to work with as many local sub-contractors as possible…. The new Euro-style climbing course (Via Ferrata) on the Roger’s Ridge area of the Ski Area is now open. And the new “Mega” zip line is scheduled to open in fall. I’m wondering if the zip line will be open in winter??…Ultimately, it is great to see capital improvements happening. Let’s hope it continues.

The proliferation of electric and pedal-assist bikes has created its own calamities. Many riders are riding much faster than normal, much to the angst of regular vehicle traffic and others. Some riders are simply unpredictable and many are clearly a danger to themselves. Who knows how much they’re had to drink. And the “downhillers” on Lake Mary Road (they didn’t ride up) are a threat too. I recently watched one middle-aged man flying down LMR without a helmet; even worse, he had an infant in the rear child’s seat and she didn’t have a helmet on either! Mammoth Hospital’s ad campaign all summer has been “Wear a Helmet! We can fix everything else.”

The Ice Rink/MUF took another turn during the period. The Town Council basically approved a new “half assed” (a hockey fan’s description) version of the facility. They agreed by a 3-1-1 vote to pursue a scaled down version, most likely the “rink and roof” version without the MUF portion. They directed staff to come back with a new plan including a revised entry, etc.. Still unresolved is the restroom and locker room arrangement. Apparently the fans and teams don’t make a good mix (and will there be a transgender locker room?). The cost of the new facility should be $13 million and in Parks & Rec. lingo it is “fully programmable”. Nobody on the Town staff seems to have any idea of how much the facility will cost to operate. Managing expenses doesn’t seem to be a Town priority.

The Staff Report did highlight something that hasn’t been there in the past or I missed. The facility is now particularly important for the “underserved segments” of the community. Approximately 60% of the students in Mammoth are classified as “socio-economically disadvantaged” and the facility is needed to address that inequality. I guess anybody opposed to the facility will now be labeled a racist? But do we really need a $25 million structure to enrich these kids for three months with “programs?” Isn’t there a more logical and cost effective strategy? We dolive in the middle of vast public lands and there are plenty of facilities already in place. We live in a joint-use, multi-use community with limited resources. 

But I have a new question. When the LA Kings want ice time in the summer and they propose to displace the “socio-economically disadvantaged” kids (I’m sure that gets a laugh from out-of-towners) in the community, what is going to happen?? Who gets priority? I see another infamous Town lawsuit. Personally, I see the ice skating crowd as the elitists in the community (ice skating was some privileged-kid luxury when I was kid). So now the Ice Rink/MUF is likely to become an elitist versus socio-economic disadvantaged debate. 

And it continues to amaze how far down the rabbit hole the Town will go to “save” $1 million over the next 25 years ( $40,000 (lease) X 25). Even worse, the Town can’t even keep the storm drains cleared during and around heavy rain events. How do they think they can adequately manage this facility?

….So to preserve sanity, I have decided I need to take the “new Mammoth attitude” about this hell-bent project. So first of all, I’ll take the greedy/self interested approach. I have two properties within close proximity of this site. I believe the ice rink will inherently improve the values (kind of like being in the Village). So not only will I support the project, I will push for the expenditure of increased dollars for more and better improvements and amenities. Who cares if the community can’t afford it as long as my property values go up. Riiiight? The pervasive attitude seems to be “if I can profit from it or get some big ego stroke, let’s go for it.”

Secondly, I will abandon the community’s attempt over the past 35 years of incorporation to resolve the hodge-podge planning in the downtown area (so much for the “giant eraser”). Placing this facility in this location and away from the IP (Institution Public) zone and the schools will continue the poor planning that makes Mammoth Lakes so endearing (and dysfunctional). And forget any real Main St. revitalization, the Town has spoken; long live poor planning!

Thirdly, who cares about the critical environments and our natural resources? All in the name of “progress” and becoming a “world class resort.” Let’s just try to pollute Mammoth Creek as much as possible, after all it just flows down into Crowley Lake and eventually Los Angeles. Who cares? Water flows down hill. The Town must think they deserve it. The new “half assed” plan will certainly dismiss the need for any safeguards. They can just cut those out of the plan. The extra restroom will be far more important.

There, I feel so much better now that I have adopted the new Mammoth attitude.

Favorite New Listing For The Period!