After an early October snow storm Mammoth has been granted a reprieve. An interlude of quiet grace. Gilded low angled light sets the countryside aglow. Temperatures arc into the 70's. Aspens and willows, cottonwoods and birches turn out in luminescent golds and shocking reds.Fishing, by some accounts, has gone off, like a pre-holiday two hour sale. One local tells of bolting down 395 on his lunch break, clomping through a mile of boggy meadow in waders to a Crowley Lake glory hole, making two casts, catching and releasing a 23 inch broad girthed 4 pound rainbow and returning to work without anyone being the wiser.
It's a swell time to be in Mammoth.
It's not a bad time to be looking for real estate either. Mortgage rates hover near 4%. Sellers are eager to move before the real snow hits, and marked down prices, paced by short sales and REOs, haven't looked this cheap since, well, since 2001.
80 condos changed hands in the third quarter of 2011, up 11% from last year's third quarter. The median price eased 16.6% to $223,000 from the same period in 2010. Bank and developer negotiated transactions accounted for 55% of sales while just 17.5% of the current 215 active condo listings are short sales, auction offerings or bank owned. One lucky Mammoth Realty Group client snapped up an 1849, 4 bedroom/3 bath condo for the pre-historic price of about $380,000.
20 homes sold in the third quarter, a 150% increase over last year, leaving just 66 active home listings. The median price slid about 10% to $530,000. Just 10.5% of the home market is made up of REOs or short sales. If you hurry you might still catch the glory of Mammoth's Fall and maybe even a piece of Mammoth real estate.
For the latest listings please contact me at: dphillips.dpbp@verizon.net.
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