We are going to have an epic holiday season because WINTER IS HERE IN MAMMOTH!!! The Mountain if fully opened and at the time of this writing (Saturday) we have a base of 107” and it is still snowing!!!! Time to start planning your ski trip to Mammoth. Speaking of planning, time to start now, for the many activities that are happening around the holidays kicking off Christmas is the Night of Lights at Canyon Lodge on December 17th. Take a look at the video. If you haven’t seen it you will be WOWED! I’ll be there…
There are a few great articles below about the forecast of the real estate market in the upcoming year.
Click Here to view the new, fully updated map for the Town of Mammoth Lakes.
We are on a steady pace with sales, 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!) Reduced to $839,000. Horses are welcome.
The market here in Mammoth Lakes is still moving slower but steady. Our inventory is dropping down on the low side. We have the exact same # of condos available as last month, with different inventory. 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 is heading down, slowly. 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!
Hope you all have a happy holiday season!! 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
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Mammoth Lakes Named
"Best Ski Town" of 2022
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Source: USA TODAY and 10Best.com
A long ski season makes Mammoth Lakes especially appealing to skiers of all levels, in addition to those interested in backcountry skiing. Mammoth Lakes also offers plenty of options for off-mountain entertainment, whether you're looking to indulge in theater and the arts, shopping local or planning a spa day. "Friendly and sporty, Mammoth is the center of snow sports in winter and all kinds of outdoor activities in summer," expert Laura Sutherland tells us.
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Mammoth Mountain: Why This Ski Resort Is Great For Beginners & Expert Skiers |
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Source: The Travel
Planning a Northern California vacation is not complete if tourists will not immerse themselves in nature and explore Mammoth Lakes, California's top attractions. The town is a destination for outdoor enthusiasts since it has plenty to do for everyone, including breathtaking treks, splendid breweries, beautiful waterfalls, and pristine lakes. The town, also known as Mammoth Village, is a stunning location for adventures and activities situated in a geologically active region surrounding the extinct volcanoes known as Mammoth Mountain. The region's primary tourist attractions during the summer months include hot springs, trekking, stunning lakes, and a ghost town. Tourists may take advantage of fantastic skiing in the winter. One of the top winter sports locations in California is the enormous Mammoth Mountain Ski Area. It is situated alongside the Inyo National Forest and offers 3,500 acres (14.16 square kilometers) of outstanding skiing terrain. It is also one of the most well-liked destinations in Mammoth Lakes, whether tourists are there in the winter or the summer. Here are the reasons why this Mammoth Mountain Resort is great for beginners and experts.
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The Latest Update on Snow
in Mammoth Lakes
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Source: MammothSnowman.com
December 5th, 2022 @ 11:44 AM – Over the weekend lots of heavy wet snow came down (2+ feet) on top of the mid-ratio snow that fell on Thursday (2-3 Feet). Will be interesting to see what happens to the top once it clears and gets bombed and blasted.
In areas that don’t slide coverage will be great with a 59 to 98-inch base on the hill from Main Lodge to the top.
Lifts open this week 1, 2, 3, 4, 5, 6, 10, 11, 12, 16, 17, 22, G1, G2, and the Village Gondola (Weather Permitting). Little Eagle will reopen for the season on Friday morning. At this point, it looks like there will be pt cloudy skies for Tuesday morning so expect the top to open around mid-day.
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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.
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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.
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Night of Lights
12/17/2022
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Our one-of-a-kind evening is back this year at Canyon Lodge. Join us for this free event as we celebrate the holiday season with a firework spectacular that lights up the Sierra Sky. Enjoy outdoor family activities including fire pits, snowmobile rides, a sledding hill and a light experience – keep your eyes out for Woolly and Santa! So grab your crew, bundle up, and come find us in the fun at Night of Lights.
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Homebuyers' and Sellers' Misconceptions About the Shifting Market |
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Source: Zillow
A new Zillow survey finds nearly half (46%) of real estate agents say the biggest misconception among aspiring home buyers is that home prices will significantly fall, while more than a third of agents (35%) say prospective buyers mistakenly think they should wait for high mortgage rates to come down.
Buyers may think it's better to wait out the market, but in reality, experts say there is more opportunity in this market than in the past five years if buyers approach real estate as a long-term investment. If a buyer can purchase today, they have bargaining power, more options and more time to find the right home, instead of being rushed into a purchase they might regret.
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Mammoth Lakes
Market Reports
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Current Mortgage Rates for
MONO COUNTY, CA
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Fannie Mae, Freddie Mac to Increase 2023
Conforming Loan Limits
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Source: CNN
Fannie Mae and Freddie Mac will raise the limits of government-backed loans to a record level for 2023, with the maximum loan limit hitting $1,089,300 for high-cost areas such as in California, the Federal Housing Finance Agency said.
“The higher limits will help make homeownership more accessible to Californians across the state and provide homebuyers with more financing opportunities,” said C.A.R. President Jennifer Branchini, a Bay Area REALTOR®. This year in California, nearly one out of every four homes sold between $1.25 million and $2 million were purchased by first-time homebuyers.
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Industry Forecast:
Rates will come down next year
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Source: WTOP
For buyers who can wait, the Mortgage Bankers Association’s (MBA) forecast calls for mortgage rates to come down sooner rather than later as the Fed should be ending its Fed Funds increases in the beginning of next year.
The MBA expects the average rate on a 30-year fixed-rate mortgage to come down to 5.4% by the end of next year and then to drop further to 4.5% by the end of 2024. For those who can’t wait, an adjustable-rate mortgage is an option. Or get a fixed rate and hopefully be able to refinance in a couple of years.
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Historical Mortgage Rates |
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Source: Freddie Mac’s Primary Mortgage Market Survey®. Rate shown is the rate on a 30-year fixed-rate mortgage on a prime conventional, conforming loan with an LTV of no more than 80%. Fees and points associated with these rates are not shown. The average fees and points charged with these rates from 2009 forward has been 0.64 points. One point represents one percent of the loan amount.
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Mortgage Rates Fall for Third Straight Week |
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Source: CNBC
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased for the third straight week to 6.49% from 6.67%, with points remaining at 0.68 for loans with a 20% down payment.
An estimated 100,000 more current borrowers could now benefit from a refinance with the latest rate drop, refinance demand, which dropped 13% from the previous week and was 86% lower than the same week one year ago, continues to be weak.
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Festive Outdoor Decor Enhances Winter Sales |
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Source: Houseopedia.com
The winter holiday season can be a difficult time to sell your house. Fortunately, staging the outside of your home with potted plants and simple decorations will help attract potential buyers. Try these trimming tips, and you may find yourself celebrating an offer along with the holidays.
Keep it simple.
To stage your home to sell during the winter months, add a few cheery touches while still keeping your décor neutral. Not all buyers celebrate the same holidays, so it’s a good idea to avoid overtly religious decorations. Your goal is to help buyers visualize themselves living in the space. Decorations should be stylish and elegant. Think fresh greenery, warm white twinkle lights, and a few pops of color from flowers.
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“Nancy was always available to answer any questions and was very thorough in keeping everything on track. We felt very comfortable working with her and felt assured that she had our best interests in mind.”
-Karen S.
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"Excellent performance as my agent in finding and obtaining a property. I would strongly recommend her and use her again."
-Stanley B.
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Current Weather Conditions and Webcams |
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For more information on all things MAMMOTH:
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