Mammoth Country, Inc. 
November 2022 Newsletter
Happy Veterans Day
Thank you for your service!
My dad, WW II Veteran and
Purple Heart Recipient
Even though it is still autumn, WINTER IS HERE IN MAMMOTH!!!  The Mountain officially opened on the 5th but we got a doozy of a storm that dropped from 49-70” that started on Monday. Even Hwy 395 was closed part of Tuesday. So we kicked off the ski season with a BANG!!! Time to start planning your ski trip to Mammoth. Speaking of planning, Thanksgiving will be epic this year and for me one of the highlights of December prior to Christmas is the Night of Lights at Canyon Lodge on December 17th. If you haven’t seen it you will be WOWED! Would love to see you there…

Check out the Conde Nast Traveler article I included below about Mammoth. Since I moved to Mammoth in the 70’s some things have changed but a lot have not. I think we still have the same small town, non-pretentious feel and that’s why I love it here!
 
Take a look at this website for the latest conditions: Mammoth Mountain Ski Area Snow Report & Weather Forecast (mammothsnowman.com) 
 
Click Here to view the new, fully updated map for the Town of Mammoth Lakes.
 
Sales have slowed a bit with the interest rate adjustment, BUT WE STILL NEED MORE LISTINGS!!  Take a look at my listing in the Village, it is the only 2 bedroom unit for sale and it’s in Grand Sierra Lodge overlooking the pond and pool. Also my listing in Round Valley is great if you want a little space and country living, great neighborhood! (my street, haha!) Just had a $40,000 price reduction.  Horses are welcome. For a winter getaway the La Quinta home is in a wonderful community, Trilogy, if you are 55+ & ready for retirement, it is for sale or rent.  
 
The market here in Mammoth Lakes is still moving but at a bit slower pace. Our inventory is dropping down on the low side. As of today we are at 45 Condos on the market!!!. It seems that we are leveling off and the market is becoming more stable with the days on market (DOM) lower if the properties are priced right. We still have a high demand for purchasing vacation properties. The rise in loan interest rates is also affecting the market but according to my mortgage lenders the interest rate should be stabilizing around 6.5 - 7%. With our early winter I anticipate a renewed interest in purchases. SO, it is still a great time to sell a home if it is something you have been considering. Mammoth Owners, if you would like a current market evaluation on your property value just send an email or call, I’m here for you! 
 
Please stop by our office in the Village and say HI, you are always welcome!


Best Wishes,
Nancy Davidson
Mammoth Village Properties
Cell: (760) 937-2301
The nicest compliment is a referral. Who do you know that is considering buying or selling?
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My website is mobile-friendly! You can search the entire MLS from the your smart-phone. Other tools on my website include a buyer's and seller's road map, searchable area map of Mammoth Lakes and Bishop, and much more! Visit my website today to start using these features.
A Ski Trip to Mammoth Mountain, Where Little Has Changed
Source: Conde Nast Traveler

Mammoth Mountain is remote. Located way out on the eastern flank of the Sierra Nevada range, it's a five-hour drive to Los Angeles, the closest major city. When I first skied here, in the early aughts, I expected to find a California version of Aspen—skiers kitted out in Moncler, popping bottles on sun-soaked terraces. Maybe the distance kept the bling at bay? I wasn't sure, but I was delighted to discover that the vibe was more Venice Beach than Beverly Hills, with that neighborhood's 1970s Dogtown energy still permeating the mountain, from JFA and Social Distortion playing loudly in the bars to the surf films looping in the ski shops. There were no luxury hotels. No celebrity-chef restaurants. No historic downtown or Euro-inspired base village.

The Latest Update on Snow
in Mammoth Lakes
Source: MammothSnowman.com

November 11th, 2022 @ 8 AM – Good morning everyone, it’s amazing up here in Mammoth right now. This is the most snow I have seen this early since the Fall of 2004.

Currently, out on Mammoth Mountain, you will find mostly clear skies. Up Top, the temperature is 25 degrees with an NNW wind of 1 MPH. Down at Main Lodge, the temperature is 16 with a W wind of 3 MPH.

For today expect Chairs 1, 2, 3, 4, 6, 11, 17, 21, and 11 with Gondola 1 and 2 and the Village Gondola. The Canyon parking area is open with limited services at the Lodge.

The snow surface on Thursday was amazing with light and dry powder and in the sections that got groomed you had that marvelous mid-winter packed powder snow.

Holiday Tree Lighting
in the Village
Source: Mammoth Mountain

The Village at Mammoth and Town of Mammoth Lakes present a kickoff to the holidays with free fun for the whole family. Join Woolly and Santa for photos, kids activities and live music outdoors before the magical first lighting of The Village holiday tree.

Featured Listings
The Heart of Mammoth Village!!
2 Bedrooms | 2 Bath
$999,000

Fabulous 2 bedroom/2 bath unit in the heart of the Village of Mammoth. This ground floor condo overlooks the reflecting pond and pool. Peaceful location. Has newer carpet and paint. Sold fully furnished and ready for a quick sale for the upcoming ski season. The Village has it all -- fitness room, ski access, walk to gondola, restaurants, coffee shop, retail shops, music festivals, underground parking, charging station, pool and spa.
Great New Price!
3+ Loft Bedrooms | 2.5 Bath
$839,000

Super-efficient newer home in 40 Acres! This Lindal Cedar home was built in 2007 and has an over-sized detached 2 car garage plus a garden shed. The lot is .85 acres and has 2 streams and a fenced yard with native landscaping. Enjoy the lovely setting in Round Valley right below Mt Tom and the beautiful views from this highly sought-after neighborhood.
PALM SPRINGS AREA
FEATURED PROPERTY
AVAILBLE FOR RENT!
4 Bedrooms | 3.5 Baths
RENT: $3,100/month
SALE: $660,000

Spacious home located in Trilogy La Quinta, a 55+ gated community. This is a 4 bedroom, 3.5 bath home (3 bed/2.5 baths plus a 1 bed/1bath casita) and is one of the larger floorplans in this area, located on a quiet cul-de-sac. It has been meticulously maintained and has newer carpet and blinds. Home comes unfurnished but does include the refrigerator and washer/dryer. Come and enjoy all of the activities and amenities that Trilogy has to offer.
Mammoth Mountain
Buried Under Fresh Snow
Source: KTLA 5
Buyers Embrace Adjustable-Rate Mortgages
Source: National Assn. of REALTORS

Fixed-mortgage rates that are now above 7% are prompting a sharp pullback in the housing market as home buyers digest the higher rates.

Buyers trying to snag a lower rate are looking at adjustable-rate mortgages, which tend to have lower introductory rates for a set period of time before resetting. Though ARMs are viewed as a riskier loan product, home buyers are being tempted: This week’s rate for a 5-year ARM is 5.96%. The share of home buyers applying for an ARM has more than quadrupled since the start of the year, the Mortgage Bankers Assn. reports.


Mammoth Lakes
Market Reports
Current Mortgage Rates for
MONO COUNTY, CA
Mortgage Rates Fall Sharply to Under 7% After Inflation Eases
Source: CNBC

Mortgage rates fell sharply Thursday after a government report showed that inflation had cooled in October, prompting a decline in bond yields.

The average rate on the 30-year fixed plunged 60 basis points from 7.22% to 6.62%, according to Mortgage News Daily. That matches the record drop at the start of the Covid 19 pandemic. The rate, however, is still more than double what it was at the start of this year.

Repairs That Will Help Sell Your House in a Cooling Market
Source: Mansion Global

The playbook for selling a home needs a makeover, and often so do the houses.

Selling a house takes much more elbow grease than it did a year ago. Homeowners earlier could expect a bidding war the moment they staked the for-sale sign in the front yard, even if the property was in dire need of updating.

With mortgage rates now pushing 7%, buyers are harder to come by and easier to turn off, real-estate agents say. Making repairs or even small cosmetic improvements that buyers care about could make the difference between getting your asking price or giving a discount.

Current Housing Trends
Repairs That Will Help Sell Your House in a Cooling Market
Source: House Logic

You’ve made an offer on a home that’s been accepted by the seller, so you’re golden. Many sellers accept the best offer they receive, for a variety of reasons.

But sellers are also known to reject offers for a variety of reasons. Or make counteroffers. If you do receive a counteroffer, you'll need to decide whether you want to accept the new contract, negotiate the terms, or walk away. Look to your agent to guide you. Your agent will use their negotiating skills to help get you the best deal. This is what agents do every day.

The Strategy Millennials
Are Using to Enter the
Real Estate Market
Source: Yahoo Finance

A growing number of young adults are building wealth through a different homeownership path, prioritizing buying an investment property before a primary residence, according to a new survey by Mynd, a company that leverages technology tools to help investors buy, finance and manage single-family rental properties.

Forty-three percent of people younger than 40 say they are considering becoming “rentvestors,” who continue to rent their own home while shoring up income from an investment property, Mynd’s 2022 Consumer Insights Report shows. That compares to just 9% of baby boomers and 27% of Gen Xers who are using the same wealth-building strategy. Some first-time investors see this as an opportunity to make more money and better afford a lifestyle in larger, more expensive markets.

Success Stories
"My wife and I used Nancy for a purchase in Mammoth Lakes. Nancy made the whole process easy and enjoyable. She knows the area very well and had a number of houses scheduled for us to view in a single trip. Nancy is so responsive to questions, getting documents circulated, and for everything else. She also helped us with many things after the closing to get us settled in to our home. She really went above and beyond. Nancy has a great personality and her client service cannot be beat. I highly recommend her."

-Brad & Stephanie J.
"We were searching online for properties in the area and found Nancy. She showed us homes that met our needs and price point and also gave us a tour of the surrounding area. We found the perfect home for us and are now enjoying it and consider Nancy a good friend."


-Bill & Susan P.
“My relationship with Nancy from the very start when I walked into her office has always been professional and friendly. She is very informed about the Mammoth Lakes area and advised me with the most current information with a great knowledge of the potential of various properties. Nancy has been  very professional with keeping me up to date on the market conditions which I have been greatly appreciated. I would look forward to working with Nancy again.”

- Robert T.
Current Weather Conditions and Webcams
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