Real News – May 2018

WORKFORCE HOUSING While local government elections can be contentious, candidates for this election have had one resounding “thread” – Workforce Housing. It is apparent that there is the public will and the expectation of action. The new Town Council and County Board of Supervisors will start their terms with two foundational milestones completed. A comprehensive and detailed Housing Action Plan has been written and adopted. Also, the Town has purchased a 26-acre parcel known as Shady Rest. The zoning for this land already has a workforce housing overlay and is ideally located in the center of town. The stars may be aligning to make a positive difference in addressing our housing needs.

Real News – April 2018

KEEP LOOKING While all the current indicators point to its being a “seller market,” if you are currently considering buying don’t hesitate to start looking. The key is to understand the market well enough so when that exceptional buy is listed you can respond quickly. Come to Mammoth, enjoy the beautiful spring weather and let’s take a look at some properties!

*   Median Sales Price for Condominiums increased 16% year over year.
*   Median Sales Price for Single Family Homes increased 24% year over year.
*   Number of Active Listings decreased 24% Q1 2018 compared to Q1 2017

Real News – March 2018

We are so grateful for the weather confusion that has brought us a blustery winter storm—so far that means 3 feet of snow in 3 days, with more in the forecast for next week.

And while we are enjoying spring skiing/boarding at its best, Alterra Mountain Company is talking about future capital improvements. These include some nice improvements for Mammoth Mountain. According to a recent press release, Canyon Lodge will receive an innovative redesign over the next two years, positioning it to become the day lodge of the future…and summer adventure will include the longest top to bottom zipline tour in North America.

Real News – February 2018

Shall we believe the Ground Hog and hope for 6 more weeks of winter? While predicting the weather this winter has been futile, I can say currently we have perfect spring conditions. Lots of fast, hard pack snow for your enjoyment!

In case you missed the news, two big announcements from Mammoth Mountain’s parent company last month. The 12 iconic North America mountain destinations that include our “home mountain” are now called Alterra Mountain Company. “Our vision…is to protect and enhance what makes each destination special, inviting guests back to their favorite mountain, and enticing them to visit new destinations on their bucket list” per Alterra. And to encourage the new destination experience they have announced their Ikon Pass which includes 23 resorts!

Real News – December 2017

NUMBER OF HOMES FOR SALE continues to decline both locally and nationally. Currently, there are 41 single family homes and 55 condominiums listed for sale in Mammoth Lakes. Below are a few tips on how to successfully buy when inventory is tight:

  • Decide what on your wish list is a “must have” and what you are willing to “settle” for
  • Then practice “patience” but be prepared to act “quickly” when your dream home comes on the market
  • If financing, “research” loan products and receive a “prequalification letter” from your top pick
  • Make your offer as “strong” as possible and be “flexible” on closing dates
  • Most important, let me know what you’re looking for

Be sure to cheer on your Mammoth-trained Winter Olympians bound for PyeongChang: Kelly Clark, Chloe Kim, Maddie Mastro, Greg Bretz, Shaun White, Carly Margulies, Brandon Davis, Brock Crouch, Judd Henkes, Stacey Cook, Tyler Wallash and Katrina Schaber

Real News – October 2017

MARKET HIGHLIGHTS With the days shortening and the first dusting of winter snow on the mountains, there is great anticipation for what winter 2017-2018 will bring-for snow and real estate activity.

The 3rd Quarter 2017 real estate market performance was healthy and constrained by the limited supply. While last year at this time it was still a buyer’s market, it has now switched to a seller’s market.
When comparing 3rd Quarter Sales for this year to the previous year for Mammoth Lakes:

*   Number of Closed Sales Increased 18%
*   Median Price for Condominiums Increased from $310,000 to $339,000
*   Median Price for Single Family Homes Increased from $685,000 to $750,000
*   Number of Active Listings Decreased 48% from 267 to 140

Congratulations to all the N.Y. Marathon runners and especially Shalane Flanagan and Meb Keflezighi. Living in Mammoth, I’ve had the pleasure of meeting both Shalane and Meb. They are amazing runners and true heroes for the values they espouse.

Real News – September 2017

JOY OF FALL As many full-time residents will share, fall is absolutely the premier time of year in Mammoth Lakes. Besides the dramatic color of the changing leaves, it is also a great time to shop for real estate. The summer crowds have left and the winter enthusiast haven’t arrived. With occupancy lower than normal, it makes it easy to see your favorite homes/condos that you have been tracking on the internet. And the weather is still perfect for an endless number of outdoor activities.

Real News – July 2017

LIFE IS GRAND

Summer continues to be grand in Mammoth Lakes! While the shredding season officially ended August 6th, there is still a plethora of activities to enjoy. The fishing is amazing, weather is perfect for high-altitude training and photo ops abound around every corner. The night sky will provide a spectacular attraction with the Perseid Meteor Shower, sandwiched conveniently between a lunar eclipse and the rare, total solar eclipse.

Adding to the excitement, the acquisitions of Intrawest, Mammoth Resorts and Squaw Valley Ski Holdings by a joint venture formed by affiliates of KSL Capital Partners, LLC (“KSL”) and Henry Crown and Company (“HCC”) is now complete. 12 unique mountain resorts under one umbrella!

Real News – June 2017

MAMMOTH LAKES HAS IT ALL: The four-day 4th of July Holiday this year is a double bonanza. Not only are there all the traditional festivities that Mammoth Lakes is known for but it is one of the few places in the world where you can celebrate all 4 seasons in 4 days. While it is not an all-day adventure, the skiing/boarding is still decent with a Mountain base of 20-140”. The golf courses are intensely green with far-reaching water elements. Bike trails are rapidly opening and are practically dust free as the snow melts. Hiking along the rivers is an amazing venture with the run off from the record snow. And the best news, Tioga Pass to Yosemite is now open. Hope to see you in paradise soon.

Real News – May 2017

ROBUST SALES ACTIVITY

Fueled by record snowfall and the announcement that Mammoth Mountain will be acquired by affiliates of Aspen Skiing Company and KSL Capital Partners, real estate sales activity has been robust. This activity continues to reduce the record low inventory levels.

Active Listings as of today:

  • Condominiums: 77 ranging in Ask Price from $229,000 to $1.295 million with a Median Price of $500,000.
  • Single Family Homes: 37 ranging in Ask Price from $477,000 to $4.5 million with a Median Price of $1.049 million

Search the MLS by clicking on Home Search at the top of this page. Especially in a dynamic market, don’t rely on information from Zillow or Trulia to be accurate. As I mentioned before, the Mammoth Lakes Board of Realtors elected to restrict information sent to these portals, as their information has been historically inaccurate and misleading.