Archive for the ‘Uncategorized’ Category

Mammoth Real Estate Update for August 14, 2011

mountain biking above Twin Lakes

On Sunday August 14, 2011 there are 81 homes listed for sale in Mammoth Lakes ( includes mobile homes ). The average price is $1,188,016, the price range is from $28,000 – $7,500,000 and the average days on market is 174.

There are 49 lots for sale. The average price is $773,302 the price range is from $59,000 – $10,500,000 and the average days on market is 327.

There are 244 condominiums for sale (does not include deed restricted properties). The average price is $390,659, the price range is from $72,900 – $1,695,000, and the average days on market is 191.

There are 32 commercial properties for sale. The average price is $618,009, the price range is from $11,995 – $3,900,000, and the average days on market is 396.

June Lake and Carson Peak


                                                
 In June Lake, there are 26 homes for sale. The average price is $1,120,188, the price range is from $110,000 – $16,400,000, and the average days on market is 169.

There are 30 lots for sale. The average price is $171,483, the price range is from $60,000 – $299,000, and the average days on market is 573.

There is 1 commercial property for sale. The average price is $1,329,000 the price range is  $1,329,000 -$1,329,000, and the average days on market is 460.

There are 4 condominiums for sale. The average price is $575,975, price range is $459,900-$725,000, and the average days on market is 449.


Crowley Lake


               
  In Crowley Lake/ Sierra Springs, there are 20 homes for sale. The average price is $636,840, the price range is $40,000 (mobile home) – $2,500,000 and the average days on market is 240.

There are 15 lots for sale. The average price is $674,386, the price range is from $75,000 – $4,000,000, and the average days on market is 365.

There are 2 condominiums for sale. The average price is $235,500. The price range is from $232,000 – $239,000, and the average days on market is 12.

In Aspen Springs and Sunny Slopes there are 5 homes for sale. The average price is $1,214,600. The price range is from $459,000 – $2,200,000 and the average days on market is 191.                                                       

There are 2 lots for sale. The average price is $462,500. The price range is from $126,000 – $799,000, and the average days on market is 233.


swall meadows


                     
      In the Paradise/ Pinion Ranch/ Rimrock and Swall Meadows areas there are 6 homes for sale (Mammoth Lakes listing service). The average price is $1,165,633, the price range is from $398,900 – $2,999,999, and the average days on market is 168.

There are 13 lots for sale. The average price is $348,292. The price range is from $83,000 – $1,950,000, and the average days on market is 660.

My Real Estate website is an excellent resource for you as you look at properties throughout the Eastern Sierra.

Once on my homepage, click on Mammoth Deals for condos priced up to $125,000 and single family residences priced up to $400,000.

Click on Mammoth Foreclosures (REOs) and Short Sales for single family residences, condos, town homes and lots in foreclosure or short sale status.

Click on Mammoth Luxury for single family residences listed for sale in the Bluffs, Greyhawk, Juniper Ridge, Snowcreek Fairway Ranch, Snowcreek Ranch and Starwood subdivisions.

 Thank you for your time and consideration!!

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Mammoth Memorial Day Weekend Beach Party

Mammoth Memorial Weekend Beach Party!!

mammoth beach party

Memorial Day Weekend – May 28-30 in Mammoth will have superb Spring snow conditions with ten lifts running: 1,2,3,6,G1,G2, 4,5,10 and 23.

In addition to the skiing and riding, you will be able to participate in a variety of on-snow beach activities like snow volleyball, ping pong, live music, bikini/board short contests, drink/food specials and more!!

The Roving Mammoth will be serving up a $10 beer/burrito special including a FREE Mammoth t-shirt ( while supplies last ). You can also relax at one of the bars enjoying a 20oz. Bacardi Planters Punch, served up only for Memorial Weekend.

Additionally, now is the time for the best gear deals. Stop by Mammoth Mart, in the Village, for the blowout sale May 27-30! Take advantage of 20-60% discounts off of selected Winter hardware, boots, outerwear, accessories, after ski boots, streetwear and Mammoth logowear.

Finally, make it a long Memorial Day Weekend and enjoy a third night free at Mammoth Mountain Inn. For a limited time, when you book two nights you’ll get your third night FREE!!

Weekly Mammoth Lakes, Ca. Real Estate Listings Summary

On Monday April 18, 2011 there are 50 homes listed for sale in Mammoth Lakes ( includes mobile homes ). The average price is $1,297,645, the price range is from $39,500 – $7,500,000 and the average days on market is 261.

There are 43 lots for sale. The average price is $522,889, the price range is from $120,000 – $2,700,000 and the average days on market is 385.

There are 190 condominiums for sale (does not include deed restricted properties). The average price is $451,074, the price range is from $97,000 – $2,100,000, and the average days on market is 181.

There are 28 commercial properties for sale. The average price is $623,989, the price range is from $39,500 – $3,900,000, and the average days on market is 484.

In June Lake, there are 15 homes for sale. The average price is $601,466, the price range is from $155,000 – $1,399,000, and the average days on market is 307.

There are 23 lots for sale. The average price is $178,391, the price range is from $81,000 – $329,000, and the average days on market is 550.

There is 1 commercial property for sale. The average price is $1,329,000 the price range is  $1,329,000 -$1,329,000, and the average days on market is 342.

There are 3 condominiums for sale. The average price is $516,633, price range is  $325,000-$725,000, and the average days on market is 500.

In Crowley Lake/ Sierra Springs, there are 13 homes for sale. The average price is $612,479 the price range is $85,000 (mobile home) – $2,500,000 and the average days on market is 284.

There are 14 lots for sale. The average price is $854,500, the price range is from $75,000 – $4,000,000, and the average days on market is 281.

There are 0 condominiums for sale. The average price is $0. The price range is from $0 – $0, and the average days on market is 0.

In Aspen Springs and Sunny Slopes there are 3 homes for sale. The average price is $777,833. The price range is from $334,500 – $1,499,999  and the average days on market is 214.

There is 1 lot for sale. The average price is $1,950,000. The price range is from $1,950,000 – $1,950,000, and the average days on market is 178.

In the Paradise/ Pinion Ranch/ Rimrock and Swall Meadows areas there are 3 homes for sale (Mammoth Lakes listing service). The average price is $1,381,666, the price range is from $546,000 – $2,999,999, and the average days on market is 160.

There are 11 lots for sale. The average price is $447,327. The price range is from $95,000 – $2,500,000, and the average days on market is 801.

Please bookmark My Real Estate website so you can be current on Mammoth Lakes real estate.

Once on my homepage, click on Mammoth Deals for condo listings priced up to $125,000 and single family residences priced up to $400,000.

Mammoth Foreclosures (REOs) and Short Sales is updated daily with new listings, price reductions, and days on market.

Mammoth Luxury highlights single family residences in the Bluffs, Grayhawk, Juniper Ridge, Snowcreek Fairway Ranch, Snowcreek Ranch and Starwood subdivisions.

Thank you for your time and consideration!!

Energy Efficient Mortgage (EEM)

In my last post, I wrote about the FHA 203(k) program where one loan includes purchase funds plus renovation funds.

Homebuyers/homeowners can also benefit from a green financing option called an Energy Efficient Mortgage (EEM). In fact, an EEM is just one green financing option available for residential and commercial buyers and sellers.

An Energy Efficient Mortgage allows the homebuyer/homeowner to roll the cost of the needed energy improvements into the mortgage, amortizing the cost of the improvements over the life of the mortgage. So,not only do you get to finance the energy improvements, you also increase your buying power!

The FHA guidelines include:

1. Energy-efficient improvement costs of $4,000 or 5% of the property value up to $8,000, whichever is greater.

2. The FHA maximum mortgage limit for an area may be exceeded by the cost of the improvements.

3. No additional down payment is required.

4. The EEM can be used in conjunction with the FHA 203(k) program.

An inspection from a professional, who has been certified under an accredited Home Energy Rating System (HERS), is required.

You can apply for an EEM through a government-insured or conventional loan program. Check with your State energy office to see if there is any type of program for residents.

Please share your thoughts by leaving a comment or calling me, toll-free, at 1-800-231-0622.

For more information on Mammoth Lakes real estate, please log onto my real estate website at www.easternsierraproperties.com.

References:

Consumer and Lender Resources for Energy Efficiency Financing and Home Energy Ratings

Alliance to Save Energy

Website: http://www.ase.org/finance2.htm

“Energy Efficient Mortgage Home Owner Guide”

United States Department of Energy

Office of Building Technology, State and Community Programs

http://www.pueblo.gsa.gov/cic_text/housing/energy_mort/energy-mortgage.htm

http://www.energyefficientmortgages.com

Weekly Mammoth Lakes Real Estate Listings Update

On Monday March 29, 2010 there are 69 homes listed for sale in Mammoth Lakes. The average price is $1,610,143, the price range is from $49,900 (mobile home) – $7,900,000 and the average days on market is 226.

There are 35 lots for sale. The average price is $980,472, the price range is from $109,000 – $13,000,000 and the average days on market is 402.

There are 174 condominiums for sale. The average price is $485,302, the price range is from $105,000 – $2,100,000, and the average days on market is 195.

There are 37 commercial properties for sale. The average price is $579,971, the price range is from $39,000 – $4,250,000, and the average days on market is 383.

In June Lake, there are 16 homes for sale. The average price is $3,076,437, the price range is from $128,000 – $19,998,000, and the average days on market is 171.

There are 21 lots for sale. The average price is $209,226, the price range is from $70,000 – $399,000, and the average days on market is 404.

There are 5 commercial properties for sale. The average price is $4,983,800 the price range is  $430,000 -$19,995,000, and the average days on market is 486.

There are 5 condominiums for sale. The average price is $479,400, price range is  $309,000-$850,000, and the average days on market is 649.

In Crowley Lake/ Sierra Springs, there are 9 homes for sale. The average price is $454,766 the price range is $52,000 (mobile home) – $1,399,000 and the average days on market is 145.

There are 14 lots for sale. The average price is $431,142, the price range is from $80,000 – $1,950,000, and the average days on market is 278.

There are 4 condominiums for sale. The average price is $164,450. The price range is from $124,900 – $222,500, and the average days on market is 180.

In Aspen Springs and Sunny Slopes there is 1 home for sale. The average price is $1,275,000. The price range is from $1,275,000 – $1,275,000  and the average days on market is 112.

There are 2 lots for sale. The average price is $1,054,500. The price range is from $159,000 – $1,950,000, and the average days on market is 274.

In the Paradise/ Pinion Ranch/ Rimrock and Swall Meadows areas there are 3 homes for sale ( Mammoth Lakes listing service). The average price is $1,503,333, the price range is from $680,000 – $2,999,999, and the average days on market is 29.

There are  10 lots for sale. The average price is $517,090. The price range is from $89,900 – $2,990,000, and the average days on market is 680.

In Bishop, there are 28 homes for sale (Bishop Listing Service). The average price is $431,593, and the price range is from $225,000 – $699,000. The average days on market is 72.

There are 13 lots  for sale. The average price is $320,669 and the price range is from $95,000 – $1,300,000. The average days on market is 249.

There is 1  commercial business opportunity. The average price is $110,000 and the price range is from $110,000 – $110,000. The average days on market is 175.

Should You Rent Out Your Resort Condominium?

Now That You’re In The Market For Buying A Townhome, Should You Rent It Out?

Assuming this isn’t your primary residence, here are some questions that should be addressed before you make an offer? Is the prospective property currently on a rental program? With whom? How long has the rental management company been in business? How much gross rental income has the property earned over the last couple of years? How much does the rental management company charge? What services do they provide? Do they have a website for people to browse? What is their policy for dealing with any damages or stolen property by renters? How many similar sized properties do they manage? How many are in the same project? What should your rental income expectations be? How many days, per year, can you expect rental income? How long of a commitment does the rental management company want?

Addressing these questions, and more, are critical to be making an informed decision before you make an offer on any property you would like to purchase.

In Mammoth Lakes, most condominiums and townhomes can be rented out on a nightly basis. Single family homes, with the exception of those in certain subdivisions, cannot be rented out on a nightly basis.

Depending on the unit size and proximity to the chair lifts/ gondola, your rental income will vary. Particularly during the Holidays! People will pay a premium to stay in ski-in/ ski-out locations. You will also pay a higher price for purchase of such properties.

If you’re paying cash, then a substantial portion of the rental income is going into your pocket. However, if you’re getting a loan there’s a lot more to talk about. Your lender needs to be advised of your rental intentions. How much are you putting down? How much are your monthly payments? How much is the monthly Homeowners Association ( HOA ) payment? What is the local tax rate? Would the current rental income cover your payments, HOA dues and taxes? If not, can you afford to put more money down?

If you can’t afford to put more money down, then you have to discuss looking at smaller properties where the gross rental income is going to be less. The calculation of projected costs needs to be done for these properties too.

You see, when you are counting on cash flows to help you afford the purchase of a property it has to work for you in good times and in bad times. Understanding your projected cash flows/costs and being confident you can handle those costs under varying economic conditions is part of your due diligence prior to writing any offer. In fact, I would go so far as to say that if you can’t afford the purchase, without the rental income, you should think twice-even three times- before proceeding with any written offer.

Your Realtor is going to be an important source of information and local knowledge during this process. Lean on him/her! In addition to your Realtor, you also need to speak with a couple different reservation companies and gather as much information as possible.

Here are a couple of reservation companies, in Mammoth Lakes, that you can contact:

  1. Elizabeth Gonzales of Mammoth Property Reservations. 1-888-MAMMOTH. Local: 1-760-615-5295
  2. Mammoth Premiere Reservations. 1-800-336-6543. Local: 1-760-934-6543

Please share your thoughts by leaving a comment.

For more information on Mammoth Lakes real estate, please log onto my real estate website at http://www.easternsierraproperties.com

Weekly Mammoth Lakes Real Estate Listings Summary

On Monday March 22, 2010 there are 71 homes listed for sale in Mammoth Lakes. The average price is $1,641,561, the price range is from $49,900 (mobile home) – $7,900,000 and the average days on market is 227.

There are 35 lots for sale. The average price is $981,330, the price range is from $109,000 – $13,000,000 and the average days on market is 395.

There are 166 condominiums for sale. The average price is $502,228, the price range is from $105,000 – $2,100,000, and the average days on market is 201.

There are 38 commercial properties for sale. The average price is $569,946, the price range is from $39,000 – $4,250,000, and the average days on market is 375.

In June Lake, there are 16 homes for sale. The average price is $3,057,937, the price range is from $128,000 – $19,998,000, and the average days on market is 175.

There are 19 lots for sale. The average price is $203,671, the price range is from $70,000 – $399,000, and the average days on market is 369.

There are 5 commercial properties for sale. The average price is $4,983,800 the price range is $430,000 -$19,995,000, and the average days on market is 479.

There are 5 condominiums for sale. The average price is $479,400, price range is $309,000-$850,000, and the average days on market is 642.

In Crowley Lake/ Sierra Springs, there are 10 homes for sale. The average price is $459,200 the price range is $52,000 (mobile home) – $1,399,000 and the average days on market is 136.

There are 15 lots for sale. The average price is $412,733, the price range is from $80,000 – $1,950,000, and the average days on market is 265.

There are 4 condominiums for sale. The average price is $164,450. The price range is from $124,900 – $222,500, and the average days on market is 173.

In Aspen Springs and Sunny Slopes there is 1 home for sale. The average price is $1,275,000. The price range is from $1,275,000 – $1,275,000 and the average days on market is 267.

There are 2 lots for sale. The average price is $1,054,500. The price range is from $159,000 – $1,950,000, and the average days on market is 260.

In the Paradise/ Pinion Ranch/ Rimrock and Swall Meadows areas there is 1 home for sale ( Mammoth Lakes listing service). The average price is $2,999,999, the price range is from $2,999,999 – $2,999,999, and the average days on market is 65.

There are 10 lots for sale. The average price is $515,090. The price range is from $89,900 – $2,990,000, and the average days on market is 677.

In Bishop, there are 25 homes for sale (Bishop Listing Service). The average price is $433,726, and the price range is from $225,000 – $699,000. The average days on market is 81.

There are 12 lots for sale. The average price is $325,808 and the price range is from $95,000 – $1,300,000. The average days on market is 233.

There is 1 commercial business opportunity. The average price is $110,000 and the price range is from $110,000 – $110,000. The average days on market is 168.

Seller Carry back

Seller Carry back / Owner Financing

Have you noticed more Owner Financing opportunities in your MLS or in the local newspaper real estate classifieds?

What does that mean? Well, it means that the seller assists the buyer by acting as a lender and financing part or all of the sale of the sellers’ property. The term applied to such financing is carryback financing. The seller versus a lending institution, is literally carrying back part or all of the financing on the property.

Can this be applied to different types of real estate? Sure! Large parcels, lots, mobile homes, mobile homes on a lot or large parcel, single family residences, condominiums, motels …. you get the idea.

Who benefits? The seller and buyer! Why?  For the buyer, the rigorous lender qualifications  aren’t involved, seller lending terms may be more favorable than those offered by a lending institution,  lower closing costs and reduced personal liability ( the property sold is the security for the debt ).

Benefits for the seller include a larger number of prospective buyers, an opportunity to defer taxes on an installment sale, a higher sale price plus terms that provide for monthly income and a cash payment for all or a portion of the note carried.

Sounds great, huh?! Well, why aren’t more people doing it? Because there’s a lot to it!

 If you, as a buyer are interested in going down this road, I  recommend that you work with a Realtor who has extensive experience with seller carry back transactions and/or an attorney, with the same type of seller carry back experience. Each of these people will discuss and review your offer/ counter offer terms and make sure that your risk is minimized, that you understand your responsibilities and that the reward of homeownership is truly within your grasp.

Here are two local legal contacts in Mammoth Lakes:

  1. Jim Reed of Liebersbach, Mohun, Carney & Reed at 760-934-4558
  2. Therese Henkel at 760-934-3133

Please share your thoughts by leaving a comment or call me, toll-free, at 800-231-0622.

For more information on the Mammoth Lakes real estate market, please log onto my real estate website at www.easternsierraproperties.com

Weekly Mammoth Lakes Real Estate Listing Update

On Monday March 15, 2010 there are 70 homes listed for sale in Mammoth Lakes. The average price is $1,699,615, the price range is from $49,900 – $7,900,000 and the average days on market is 236.

There are 35 lots for sale. The average price is $985,037, the price range is from $109,000 – $13,000,000 and the average days on market is 388.

There are 161 condominiums for sale. The average price is $502,199, the price range is from $105,000 – $2,100,000, and the average days on market is 207.

There are 38 commercial properties for sale. The average price is $570,735, the price range is from $39,000 – $4,250,000, and the average days on market is 368.

In June Lake, there are 17 homes for sale. The average price is $2,898,647, the price range is from $128,000 – $19,998,000, and the average days on market is 163.

There are 18 lots for sale. The average price is $202,888, the price range is from $70,000 – $399,000, and the average days on market is 362.

There are 5 commercial properties for sale. The average price is $4,983,800 the price range is $430,000 -$19,995,000, and the average days on market is 472.

There are 5 condominiums for sale. The average price is $479,400, price range is $309,000-$850,000, and the average days on market is 635.

In Crowley Lake/ Sierra Springs, there are 10 homes for sale. The average price is $466,800 the price range is $52,000 (mobile home) – $1,399,000 and the average days on market is 174.

There are 14 lots for sale. The average price is $433,428, the price range is from $80,000 – $1,950,000, and the average days on market is 266.

There are 2 condominiums for sale. The average price is $155,200. The price range is from $130,900 – $179,500, and the average days on market is 246.

In Aspen Springs and Sunny Slopes there is 1 home for sale. The average price is $1,275,000. The price range is from $1,275,000 – $1,275,000 and the average days on market is 98.

There are 2 lots for sale. The average price is $1,054,500. The price range is from $159,000 – $1,950,000, and the average days on market is 260.

In the Paradise/ Pinion Ranch/ Rimrock and Swall Meadows areas there is 1 home for sale ( Mammoth Lakes listing service). The average price is $2,999,999, the price range is from $2,999,999 – $2,999,999, and the average days on market is 58.

There are 10 lots for sale. The average price is $515,090. The price range is from $89,900 – $2,990,000, and the average days on market is 670.

In Bishop, there are 26 homes for sale (Bishop Listing Service). The average price is $429,019, and the price range is from $225,000 – $699,000. The average days on market is 83.

There are 13 lots for sale. The average price is $331,908 and the price range is from $95,000 – $1,300,000. The average days on market is 236.

There are 0 commercial business opportunities. The average price is $0 and the price range is from $0 – $0. The average days on market is 0.
Please share your thoughts by leaving a comment or call me, toll-free, at 800-231-0622.
For more information on Mammoth Lakes real estate, please log onto my real estate website at http://www.easternsierraproperties.com.

Mammoth Lakes and Local Communities Active Listings Summary

On Monday February 15, 2010 there are 71 homes listed for sale in Mammoth Lakes. The average price is $1,735,036, the price range is from $49,900 – $7,900,000 and the average days on market is 227.

There are 32 lots for sale. The average price is $1,051,075, the price range is from $109,000 – $13,000,000 and the average days on market is 403.

There are 153 condominiums for sale. The average price is $503,122, the price range is from $115,000 – $2,100,000, and the average days on market is 218.

There are 43 commercial properties for sale. The average price is $529,893, the price range is from $39,000 – $4,250,000, and the average days on market is 323.

In June Lake, there are 15 homes for sale. The average price is $3,232,733, the price range is from $128,000 – $19,998,000, and the average days on market is 156.

There are 22 lots for sale. The average price is $207,568, the price range is from $70,000 – $399,000, and the average days on market is 333.

There are 5 commercial properties for sale. The average price is $4,983,800 the price range is  $430,000 -$19,995,000, and the average days on market is 444.

There are 5 condominiums for sale. The average price is $514,700, price range is  $309,000-$850,000, and the average days on market is 577.

In Crowley Lake/ Sierra Springs, there are 12 homes for sale. The average price is $445,500 the price range is $59,000 (mobile home) – $1,399,000 and the average days on market is 139.

There are 14 lots for sale. The average price is $419,357, the price range is from $80,000 – $1,950,000, and the average days on market is 270.

There are 3 condominiums for sale. The average price is $148,433. The price range is from $130,900 – $179,500, and the average days on market is 192.

In Aspen Springs and Sunny Slopes there is 1 home for sale. The average price is $1,275,000. The price range is from $1,275,000 – $1,275,000  and the average days on market is 70.

There is 1 lot for sale. The average price is $1,950,000. The price range is from $1,950,000 – $1,950,000, and the average days on market is 243.

In the Paradise/ Pinion Ranch/ Rimrock and Swall Meadows areas there is 1 home for sale ( Mammoth Lakes listing service). The average price is $2,999,999, the price range is from $2,999,999 – $2,999,999, and the average days on market is 30.

There are  10 lots for sale. The average price is $519,690. The price range is from $89,900 – $2,990,000, and the average days on market is 642.

In Bishop, there are 26 homes for sale (Bishop Listing Service). The average price is $405,885, and the price range is from $219,000 – $649,500. The average days on market is 91.

There are 13 lots  for sale. The average price is $536,908 and the price range is from $130,000 – $2,750,000. The average days on market is 225.

There are 2 commercial business opportunities. The average price is $348,750 and the price range is from $110,000 – $587,500. The average days on market is 506.

For more information on real estate in Mammoth Lakes, and the neighboring communities, please log onto www.easternsierraproperties.com. Click on Property Search, type in your search criteria and active listings will be displayed.