Foreclosures & REO's - Mammoth Lakes, California

UPDATED 7-29-2010

Call/email Dennis & Tara for more details on a few upcoming Mammoth Lakes Foreclosures/REOs.

CURRENT FORECLOSURES/REO'S IN MAMMOTH LAKES

HOUSES:

132 Sierra Blvd.: ACTIVE Listed on 6/15/10 for $586,900. Custom 5 bedroom / 3.5 bath home with attached 2-car garage. Built in 2005. Listing courtesy of Stephanie Cook, Mammoth Realty Group.

249 St. Anton: ACTIVE (Back on Market on 7/25/10). Pending on 7/9/10. Reduced to $570,000 on 6-7-10. Reduced to $598,500 on 4/13/10. Re-Listed for $627,000 on 3-9-10. Beautifully remodeled home in The Knolls. 3 bedrooms, 2 bathrooms, 2-car garage, loft above kitchen, and large deck. Forced air heating (no fireplace), upgraded flooring and kitchen. Offered As-Is. (Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth. Marketing agents - Dennis Cox and Tara Peterson.) VIDEO: YouTube walkthrough video showing the furnishings which are not included: http://www.youtube.com/watch?v=9RAsE5x3_XE.]

CONDOS:

*NEW* La Residence V #R-8: ACTIVE Listed on 7/28/10 for $165,000. 1 bedroom + loft / 1.5 baths. Centrally located in town and on the shuttle route. Low HOA fees. Listing courtesy of Heidi Helbig, Mammoth Realty Group.

*NEW* Mammoth Estates #205: ACTIVE Listed on 7/23/10 for $294,900. 3 bedroom / 2 bath within walking distance of the Village and Gondola. Open living room floorplan. Listing Courtesy of Deanna Lantieri, RE/MAX of Mammoth. Full amenities. Walkthrough video here: http://www.youtube.com/watch?v=N2z8YtNJIxc.

White Mountain Lodge #2205: ACTIVE Listed on 7/21/10 for $340,000. 2 bedroom / 2 bath in The Village. Listing courtesy of Stephanie Cook, Mammoth Realty Group. Sold unfurnished, as-is. This particular unit faces outward towards Minaret Blvd. Shops, restaurants and Gondola right outside your front door. All cash required.

Westin Monache #609: ACTIVE Listed on 7/20/10 for $209,900. Studio / 1 bathroom condo. Located up the hill from the Village. 6th floor with views to pool and Mammoth Mountain. Listing courtesy Deanna Lantieri, RE/MAX of Mammoth.

Summit #A 212: IN ESCROW Listed on 7/12/10 for $266,900. 2 bedroom + loft / 2 bath in Summit II. Near Chair 15/Eagle Express, across the street from Sierra Star Golf Course. Understructure parking, elevator access and full amenities. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Mammoth Gateway #9: ACTIVE Listed on 7/9/10 for $561,000. 3 bedroom + loft / 2.5 bath townhome with an attached 2-car garage. Located in between down town area and The Village. Built in 2006. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group.

St. Moritz #77: ACTIVE Listed for $104,900 on 7/7/10. Studio + 1 bathroom condo on Meridian Blvd. Located near the complex pool, spa and recreation room. Listing courtesy Deanna Lantieri, RE/MAX of Mammoth.

White Mountain Lodge #2414: IN ESCROW Pending on 7/27/10. Reduced to $365,900 on 7/23/10. Listed on 7/1/10 for $374,900. 2 bedroom, 2 bathroom condo at The Village at Mammoth. Overlooks clocktower pavillion and pool area. Listing courtesty of Deanna Lantieri, RE/MAX of Mammoth.

Westin #216: ACTIVE REDUCED to $204,900 on 7/20/10. Listed on 6/23/10 for $214,700. 1 bedroom / 1 bath suite at the new Westin Monache. Mammoth's newest full service hotel. Walk to the Village and Gondola. Listing courtesy of Susan Sanders, Highmark Advisors.

Grand Sierra Lodge #1217: IN ESCROW Pending on 7/7/10. Listed on 6/24/10 for $219,900. 1 bedroom / 1 bath in the centrally located Grand Sierra Lodge in The Village at Mammoth. Listing courtesy of Stephanie Cook, Mammoth Realty Group. Grand Sierra Lodge offers full amenities including year round heated swimming pool, spa, underground parking, elevator access, 24 hour front desk, conference facilities and more. Shops, restaurants and Gondola right out your front door. All cash required.

Bigwood #47: IN ESCROW. Pending on 7/8/10. Reduced to $197,676 on 6/29/10. Listed for $208,080 on 6/15/10. 1 bedroom + loft / 2 bathroom / 1-car detached garage. Listing courtesy Jeff Warwick, Coldwell Banker. Hardwood floors, pellet stove, sold furnished.

Bigwood #6: ACTIVE. REDUCED to $204,999 on 7/20/10. Listed on 6/16/10 for $235,750. 1 bedroom + loft / 2 bathroom / 1-car detached garage. Listing courtesy Stacey Bardfield, Mammoth Sierra Properties. Pellet stove. Sold unfurnished.

Viewpoint #102: IN ESCROW Pending on 6/26/10. Listed on 6/11/10 for $225,000. 1 bedroom + loft / 2 bathroom condo. Comp sold for $290,000. Listing courtesy Stephanie Cook, Mammoth Realty Group. Corner unit, walking distance to Village. Complex has pool, spa and tennis court.

Sierra Park Villas #9: IN ESCROW Pending on 6/16/10. Listed on 6/9/10 for $209,900. 2 bedroom + loft / 3 bath at Sierra Park Villas. Great in town location. Full amenities. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group. Cash offer required.

Juniper Springs Lodge #421: WITHDRAWN Listed on 6/9/10 for $217,500. 1 bedroom / 1 bath at the slopeside Juniper Springs Lodge. Full amenitites include pool, spas, conference facilities, elevator, onsite coffee shop/store, understructure parking and more. HOA fees include all utilities except telephone.

1849 phase II #562: ACTIVE Reduced to $294,900 on 7/28/10. Reduced to $334,500 on 6/28/10. Listed on 5/28/10 for $354,900. Two bedroom / two bath in the second phase of 1849, next to Canyon Lodge. Complex has recently received a complete exterior renovation. Listing courtesy of Stephanie Cook, Mammoth Realty Group.

Krystal Villa West #13: ACTIVE. REDUCED to $101,500 on 7/1/10. Listed on 5/24/10 for $104,000. 1 bedroom / 1 bathroom condo closet to center of town. HOA dues approx $295/mo. Listing courtesy Stacey Bardfield, Mammoth Sierra Properties.

Mountain Shadows K 15: ACTIVE REDUCED to $198,900 on 7/20/10 (17.2% overall reduction). Reduced to $210,000 on 6/19/10. Listed on 5/17/10 for $240,350. Studio loft/ 2 bath condo at Mountain Shadows. Upstairs unit. Mountain shadows is located along the shuttle route and within walking distance of some shops and restaurants. Complex has pool, spa. Listing courtesy of Stacy Bardfield, Mammoth Sierra Properties. Relatively low HOA fees (posted as $290/month).

Sunflower #5: ACTIVE REDUCED to $295,100 on 7/13/10. Reduced to $330,000 on 6/2/10 (7.6% reduction). Listed for $357,200 on 4/29/10. 3 Bedroom / 3.5 bath with an attached 1-car garage. Listing courtesy of Stacey Bardfield, Mammoth Sierra Properties. Centrally located in town location. Near shuttle stop.

BEST BUY Juniper Springs Lodge #213: ACTIVE. Reduced to $307,900 on 7/27/10 (13.2% overall reduction). Reduced to $318,900 on 7/6/10. Reduced to $326,900 on 6/14/10. Reduced to $334,900 on 5/24/10. Reduced to $344,900 on 5/3/10. Listed for $354,900 on 4/13/10. 2 bedrooms, 2 bathrooms. Listing courtesy Deanna Lantieri, RE/MAX of Mammoth. Furnished, but no gold upgrade (laminate countertopes). On 2nd floor, looking out over the front entrance.

OTHER (MULTI-FAMILY, COMMERCIAL, VACANT LAND)

140 Pinecrest Avenue - Vacant Lot: ACTIVE Reduced to $115,000 on 7/21/10. Reduced to $128,000 on 6/17/10. Listed on 5/19/10 for $143,000. South facing lot.

714 Majestic Pines Drive - Vacant Lot: IN ESCROW Pending on 7/19/10. Reduced on 7/13/10 to $237,900 (21% overall reduction). Reduced to $264,900 on 6/18/10. Reduced to $279,900 on 6/13/10. Reduced on 5/21/10 to $289,900. Listed on 5/12/10 for $299,900. Beautiful south facing lot within walking distance of Eagle Express/Chair 15. Sherwin views. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

25 Joaquin (6-Plex): ACTIVE. Reduced to $599,000 on 4-28-10. Listed for $629,500 on 2/26/10. Multi-Family building with 6 units. Built in 1955, three units are 1-bed/1-bath, one unit is 2-bed/1-bath, one unit is 2-bed/2-bath, and the last unit is 3-bed/2-bath. Three garage spaces. Listing courtesy of Stacey Bardfield, Mammoth Sierra Properties.

19 Rusty Lane - Vacant Lot: ACTIVE. Reduced to $170,000 on 5/22/10. Reduced to $178,500 on 4/13/10. Listed for $187,000 on 3/8/10. Approx. 0.23 acre lot in area behind post office. Gentle sloping lot and zoned residential single family. Listing courtesy of Bonnie Endrick, Coldwell Banker Mammoth Real Estate.

CURRENT FORECLOSURES / REO'S IN SURROUNDING AREAS (CROWLEY, JUNE LAKE, BISHOP, NORTHERN MONO COUNTY)

744 Paiute Dr. (June Lake): ACTIVE. Listed for $649,500 on 5/26/10. 4 bedrooms, 4 bathrooms, newer home, hardwood flooring, granite countertops, 2 fireplaces, forced air heating. Listing courtesy Deanna Lantieri, RE/MAX of Mammoth.

SOLD FORECLOSURES / REO's in MAMMOTH LAKES:
[Sold data is for historical sales information only. It is not meant to imply that Dennis Cox or Tara Peterson were involved with every transaction.]

Sales Statistics for 2009 REO's in Mammoth:

# of Foreclosed Condos/Homes Sold: 60

Time on market: # Sold: Sales Price as % of Original List Price:

    <1month on market 27 99.7%

    1-2 months on market 16 90.1%

    2-3 months on market 9 85.9%

    3+ months on market 8 75.8%

Sherwin Villas #42: Sold on 7/27/10 for $119,900. Pending on 6/14/10. Reduced to $119,900 on 6-7-10 (19% overall reduction). Reduced to $139,900 on 4/30/10. Listed for $147,990 on 3/25/10. 1 bedroom / 1 bathroom condo. In-town location. HOA dues approx $453, complex was built in 1972. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group.

Snowcreek V #809: Sold for $550,000 (all cash) on 7/23/10. Pending on 6/16/10. Listed on 5/28/10 for $579,900. Great location on this 3 bedroom / 3 bath / 1-car garage Townhome in Snowcreek phase V. BAcks to USFS land. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group. Great open floorplan.

Westin #206: Sold on 7/23/10 for $195,000 (all cash). Pending on 7/7/10. Reduced to $203,500 on 6/28/10. Listed on 6/9/10 for $214,200. 1 bedroom / 1 bath suite at the new Westin Monache. Mammoth's newest full service hotel. Walk to the Village and Gondola. Listing courtesy of Jeff Warwick, Coldwell Banker Mammoth.

201 Hilton Creek Drive (Crowley): SOLD for $330,000 (all cash) on 7/22/10. Pending on 6/9/10. Listed on 5/27/10 for $326,900. 3 bedroom/ 2 bath + den / 2-car detached garage situated on approximately 1 acre up in the aspens in Crowley. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group.

Sherwin Villas #43: SOLD for $103,000 (all cash) on 7/22/10. Pending on 6/17/10. Reduced to $114,500 on 6-7-10 (41% overall reduction!). Reduced to $139,900 on 5/5/10. Reduced to $162,900 on 3/30/10. Reduced to $173,990 on 2/25/10. Listed on 1/22/2010 for $193,990. 1 bedroom / 1.25 bath in the full amenity Sherwin Villas complex. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group.

White Mtn Lodge #2305: Sold for $370,000 (all cash) on 7/19/10. Pending on 6/9/10. Listed for $379,000 on 5/27/10. 2 bedrooms, 2 bathrooms, facing Minaret Blvd. Granite kitchen upgrades. Listing courtesy Stephanie Cook, Mammoth Realty Group.

795 Bridges Ln - Vacant Lot: SOLD for $246,000 (all cash) on 7/13/10. Pending on 6/21/10. Reduced on 6/11/10 to $297,900 (25.5% overall reduction). Reduced to $339,900 on 6/1/10. Reduced to $349,900 on 5/13/10. Reduced to $389,900 on 4/19/10. Listed for $399,900 on 3/29/10. Approx 0.30 acres in exclusive ski-in/ski-out Greyhawk neighborhood. Listing courtesy Deanna Lantieri, RE/MAX of Mammoth.

White Mountain Lodge #2317: SOLD for $680,000 on 7/8/10. Pending on 6/16/10. Listed for $671,900 on 6/3/10. 3 bedrooms / 3 bathroom condo at The Village at Mammoth. On 3rd floor on the Minaret Blvd side of the building. Listing courtesy Deanna Lantieri, RE/MAX of Mammoth.

Sunstone #314: SOLD for $362,000 on 7/7/10 (all cash). Pending on 6/7/10. Listed for $349,000 on 5/26/10. 2 bedrooms, 2 bathrooms, sold partially furnished. Upgraded countertopes. Listing courtesy Stephanie Cook, Mammoth Realty Group.

311 Mono Street (house): SOLD for $487,000 (conventional loan) on 7/7/10. Pending on 5/21/10. Listed on 5/12/10 for $520,000. 4 bedrooms / 3 baths with an attached 2-car garage. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group.

Sierra Manors #122: SOLD for $180,000 (All Cash) on 6/30/10. Pending on 6/10/10. Reduced to $186,500 on 5/31/10. Listed for $234,500 on 3/26/10. 2 bedrooms + loft / 2 bathrooms, recently remodeled. Listing courtesy of Stacey Bardfield, Mammoth Sierra Reservations.

Bigwood #3: SOLD for $98,500 on 6/30/10 (All Cash). Pending on 6/5/10. Listed on 5/24/10 for $111,500. 1 bedroom / 1 bathroom condo with 1-car detached garage. Listing courtesy Sylvia Bouzaglou, Mammoth Realty Group.

108 Mono Street: Sold for $156,000 on 6/22/10 (all cash, pre-auction sale). Pending on 5/26/10. Reduced to $220,689 on 2/2/10. Reduced to $232,304 on 1/12/2010. Reduced to $244,530 on 12/23/09. Listed on 12/3/09 for $257,400. 2 bedroom / 1 bath cabin on multi-zoned lot. House MAY encroach on neighbor's property. (Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.) View a walkthrough video here: http://www.youtube.com/watch?v=rXEcVcfRIsk.

321 Forest Trail: SOLD for $310,000 on 6/15/10 (conventional loan). Pending on 4-27-10. Listed for $284,900 on 4/9/10. A-frame house across the street from forest service land. 2 bedrooms, 1 bathroom, deck on back of house. Built in approx 1963. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Sierra Manors #138: Sold on 6/10/10 for $137,000. Listed for $135,500 on 3/19/10. 1bedroom + loft / 1 bathroom. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group. HOA dues approx. $316/mo.

Forest Meadows #13: Sold for $165,250 on 6/8/10. Pending on 4/9/10. Reduced to $159,900 on 3/29/10 (5.9% reduction). Listed for $169,900 on 2/23/2010. Bottom floor 2 bedroom / 1 bathroom condo in the 'Blue Roofs' complex behind Vons and next to the open space and paved trail south of Mammoth Creek Park. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group

701 Palisades (June Lake house): SOLD for $385,000 on 6/4/10 (All cash). Pending on 5/11/10. Reduced to $439,000 on 4/4/10. Listed on 3/5/10 for $467,000. 4 bedrooms, 3 bathrooms, 1 car attached garage. Built in 2007. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Grand Sierra Lodge #1121 (Village at Mammoth): SOLD at auction for $390,000, then add 10% auction fee to get final price ot $429,000. Auctioned on March 19th in Denver, CO. 2 bedroom, 2 bathroom, ADA compliant unit, ground floor facing the Village pool. Listing courtesy of Sheldon Good & Co.

Pinion Springs #3, Door C (Crowley condo): SOLD for $224,500 on 5/26/10 (Call Cash). Pending on 5/6/10. Listed on 4/20/10 for $224,500. 3 bedroom / 2 bath townhome in Crowley with an oversized attached 2-car garage. New paint and carpet. Listing courtesy of Stacy Bardfield, Mammoth Sierra Properties.

2055 Old Mammoth Road: SOLD for $295,000 on 5/24/10 (conventional financing). Pending on 3/30/10. Reduced to $314,900 on 3/5/10 (4.5% reduction). Listed on 1/27/2010 for $329,900. 1 bedroom + loft / 1 bath in Old Mammoth. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Whiskey Creek Condo #7 (Crowley Lake): SOLD for $115,000 on 5/24/10 (conventional financing). Pending on 1/25/2010. Reduced to $134,900 on 1/12/2010. Went to auction on 2/18/10. Reduced to $139,900 on 12/4/09. Reduced to $172,800 on 10/27/09. Listed for $180,000 on 9/28/09. Listing courtesy Stepahnie Cook, Mammoth Realty Group. Built in 1982, 2 bedrooms, 2 bathrooms, bright upstairs unit.

White Mountain Lodge #2105: Sold on 5/3/10 for $340,000 (all cash) Went pending on 4/2/10. Listed for $364,900 on 3-23-10. 2 bedrooms, 2 bathrooms on bottom floor of building (which has higher ceilings). Right near the gym and spa. Overlooks Minaret Rd. Listing courtesy Stephanie Cook, Mammoth Realty Group.

Lakeridge Bluffs lot #7 (Crowley): SOLD for $75,000 on 4/29/10 (All Cash). Reduced to $124,900. Listed on 10/23/09 for $123,000. Vacant lot in Crowley's Lakeridge Bluffs subdivision. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Grand Sierra Lodge #1412: Sold on 4/27/10 for $240,000 (all cash) Went pending 4/2/10. Listed for $200,000 on 3-22-10. 1 bedroom, 1 bathroom condo in The Village. Faces north towards Forest Trail. Listing courtesy Stephanie Cook, Mammoth Realty Group.

Summit #290: SOLD for $171,500 (all cash) on 4/26/10. Pending on 3/11/10) Listed for $164,875 on 3/5/10. 1 bedroom / 1 bathroom condo in the "D" Building of Summit condos located across from Eagle Lodge. Listing courtesy of Bonnie Nott, Coldwell Banker Mammoth Real Estate. Sold by Dennis Cox / Tara Peterson.

127 Zurs Ct. (house): SOLD for $995,000 on 4/16/10. Listed for $995,000 on 2/10/2010. 4 bedrooms, 5 bathrooms backing up to Forest Service land in The Knolls subdivision. Built in approx 1972 but recently remodeled, on 0.21 acre lot. Listing courtesy Sylvia Bouzaglou, Mammoth Realty Group. Sold by Dennis Cox / Tara Peterson

Juniper Springs Lodge #330: SOLD for $370,200 on 4/16/10 (all cash). Listed for $364,900 on 3/4/10. 2 bedrooms, 2 bathrooms, looking up hill towards the horseshoe courtyard part of JSL. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group. Offered furnished and with the 'gold upgrade' package with granite countertops. Sold by Dennis Cox / Tara Peterson.

Whiskey Creek #6 (Condo in Crowley): SOLD for $89,500 on 4/15/10 (All Cash). Reduced to $130,900 on 1/21/2010. Reduced to $145,000 on 12/16/09. Listed on 12/4/09 for $167,500. 2 bedrooms, 2 bathrooms. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Mammoth West #109: Sold on 4/14/10 for $207,000 (all cash). Listed for $185,500 on 2/13/2010. 2 bedrooms, 1.5 bathrooms located right next to the Canyon Lodge parking lot. Listing courtesy of Stacey Bardfield, Mammoth Sierra Properties.

737 Forest Trail: SOLD for $355,500 (all cash) on 4/8/10. Pending on 3/4/10. Listed for $348,100 on 2/25/2010. 3 bedrooms, 2 bathrooms, 2-car detached garage on lower Forest Trail. House built in 1963, on approx. 0.19 acre lot. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group.

Westin Monache #315: SOLD for $200,000 on 4/1/10 (All Cash). Went pending on 3/8/10. Reduced to $200,000 on 2/23/2010. Listed on 12/14/09 for $214,900. Studio / 1 bath at The luxurious Westin Monache. Listing courtesy of Stephanie Cook, MRG.

800 Bridges Lane: SOLD for $1.285M on 3/26/10 (conventional financing). Went pending on 1/22/2010. Reduced to $1,319,900 (total of 15% reduction). Reduced to $1,439,900 on 12/9/09 (7% reduction). Listed on 11/6/09 for $1,549,900. Beautiful custom home with stunning views in the prestigious Greyhawk subdivision. 3 bedrooms / 3 bonus rooms / exercise room / 4.5 baths. Features an indoor pool and hydronic in-floor heating. Stunning panoramic views. Listing courtesy of Stephanie Cook, MRG.

Crowley Lake House at 45 Larkspur Dr: SOLD for $740,000 on 3/26/10 (conventional loan). Pending on 3/1/10. Reduced to $789,200 on 2/4/10. Listed on 1/14/2010 for $830,700. 5 bedrooms, 3.5 bathrooms, 3-car attached garage in Sierra Springs neighborhood of Crowley Lake. Built in 2002 and approx 0.49 acre, this home has slate flooring, granite kitchen countertops and great views. Listing courtesy of Jeff Warwick, CBMRE.

Juniper Springs Lodge #321: SOLD for $205,000 on 3/19/10 (all cash). Listed for $226,900 on 2/19/10. 1 bedroom / 1 bathroom. Does not have the gold upgrade (granite countertops). Listing courtesy of Stacey Bardfield, Mammoth Sierra Properties.

Chateau Blanc #22: SOLD for $295,000 on 3/18/2010 (conventional loan). Pending on 12/23/09. Listed on 12-18-09 for $319,900. 3 bedrooms, 2 bathrooms, recently remodelled townhome close to town. A few doors are missing, sold unfurnished. (Listing courtesy of Sylvia Bouzaglou, MRG.)

1849 I #209: SOLD for $375,000 on 3/16/10 (conventional loan). Pending on 1/13/2010. Reduced to $408,900 on 1/13/2010. Reduced to $425,000 on 12/15/09. Listed on 11/12/09 for $448,000. 2 bedroom + new solarium in the newly renovated 1849 phase I. Just steps from Canyon Lodge! Remodeled kitchen. (Listing courtesy of Stacey Bardfield, MSP.)

Sierra Manors #57: SOLD for $190,000 on 3/12/10 (Financed). Listed on 1/21/2010 for $193,050. Upgraded 2+loft / 2 bath at Sierra Manors. In town location. (Listing courtesy of Jeff Warwick, Coldwell Banker Mammoth.)

June Lake House at 93 Aspen Grove Ln: SOLD for $675,000 on 3/12/10 (Financed). Pending on 1/20/2010. Reduced to $690,000 on 1/13/2010. Reduced to $705,900 on 1/5/2010. Reduced to $767,900 on 12/10/09. Listed on 11/10/09 for $806,900. 4 bedrooms, 4 bathrooms, 3-car garage, built in 2006, Listing courtesy of Stephanie Cook, MRG.

76 Rusty Lane (House): SOLD for $415,000 on 3/9/10 (FHA loan). Pending 1/21/2010. Reduced to $426,900 on 12/22/09 (6.6% reduction). Listed on 11/25/09 for $456,900. 3 bedroom + loft / 2 bath with a 2 car garage. South facing on an upsloping lot. Hardwood floors throughout. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Mountain Meadows (Crowley) #22: SOLD for $213,000 on 2/26/10 (Financed). Pending on 1/12/2010. Reduced to $219,900 on 11/17/09. Listed on 10/16/09 for $246,400. 3 bedroom / 3 bath townhome with attached 2-car garage. Listing courtesy of Stacy Bardfield, Mammoth Sierra Properties.

1849 I #102: SOLD for $360,000 on 3/4/10 (Financed). Pending on 1/18/2010. Reduced to $369,900 on 1/11/2010 (5.1% reduction). Originally listed on 12/15/09 for $389,900. 2 bedroom / 2 bath + solarium. Full amenities. Incredible location adjacent to Canyon Lodge. (Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.)

Horizons IV #136: SOLD for $187,000 on 3/4/10 (All cash). Pending on 1/28/10. Listed on 1/21/2010 for $179,000. Upgraded 1 + loft / 2 bath at Horizons IV. Granite counters, newer cabinets, appliances and carpet. Full amenity complex. Located on the shuttle route. (Listing courtesy of Stephanie Cook, Mammoth Realty Group.).

Mountainback 59: SOLD for $340,000 on 3/4/10 (Financed). To escrow on 2/4/10. Listed on 1/13/2010 for $368,900. 2 bedroom / 2 bath in the well maintained Mountainback complex. Understructure parking, full amenities with spas throughout the complex. Located on the shuttle route. (Listing courtesy of Stacey Bardfield, MSP).

White Mountain Lodge #2103: SOLD for $211,700 (All Cash) on 2/26/10. Pending on 1/27/2010. Listed on 1/21/2010 for $206,700. Studio / 1 bath in The Village at White Mountain Lodge. Rare and large studio floorplan with murphy bed and other furnishings. (Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group.)

Westin Monache #307: SOLD for $195,000 on 2/26/10 (All Cahs). Pending on 2/2/10. Reduced to $203,900 on 1/19/2010. Listed on 11/19/09 for $214,900. Studio / 1 bath at the full service Westin Monache. (Listing courtesy of Stephanie Cook, Mammoth Realty Group.)

Forest Meadows #9 Condo: SOLD for $156,000 on 2/26/10 (All Cash). Pending on 1/25/2010. Reduced to $169,900 on 1/14/2010. Reduced to $180,500 on 1/6/2010. Reduced to $189,900 on 12/3/09. Listed on 10/22/09 for $195,893. 2 bedroom / 1 bath. (Listing courtesy of Stacey Bardfield, MSP.)

109 Trails End (House): SOLD for $738,000 on 2/24/10 (Conventional financing). Pending on 1/11/10. Listed on 1/5/09 for $738,900. 5 bedrooms / 4.5 baths / family room + office. Located at the end of Trails End (cul de sac). Spacious home that backs up to the school. (Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.)

78 Convict Dr (House): SOLD for $350,000 on 2/18/10 (All Cash). Pending on 1/15/10. Reduced to $399,900 on 1/11/10 (11.1% reduction). Originally listed on 12/30/09 for $450,000. 5 bedrooms, 3 bathrooms, 2-car attached garage. About 1/2 mile from Canyon Lodge. Needs TLC throughout. (Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.) View a walkthrough video here: http://www.youtube.com/watch?v=Y4LDsrWq9bE.

Diamond Run Townhomes #2: SOLD for $255,000 on 2/19/10 (All Cash). Listed on 1/26/2010 for $249,900. 1 bedroom / 2 bath / attached 1 car private garage. These townhomes are fairly new (built in 2005). Features include granite countertops, stainless steel appliances, forced air heat and a gas log fireplace. No nightly rentals allowed. (Listing courtesy Deanna Lantieri, RE/MAX of Mammoth.)

Timberline #11 Condo: SOLD for $205,000 on 2/19/10 (All Cash). Pending on 1/29/10. Listed on 1/11/2010 for $225,000. 2 bedroom / 2 bath townhome at Timberline condos. Located along the shuttle route and walking distance to shops and restaurants. Complex has spa and pool. (Listing courtesy of Sara Knadler, Mammoth Properties.)

Snowcreek #919: SOLD for $515,000 on 2/18/10 (All Cash). Pending on 1/5/09. Listed on 12/31/09 for $530,000. 3 bedrooms, 3 bathrooms, attached 1-car garage, built in approx 1989. Listing courtesy of Sylvia Bouzaglou. Offered partially furnished.

June Lake House at 740 Garnet: SOLD for $464,000 (conventional financing) on 2/17/10. Listed on 12-7-09 for $469,800. 4 bedrooms, 2 bathrooms, 2-car attached garage, built in 1979. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Chateau de Montagne #45: Sold for $365,000 on 2/4/10 (all cash) Pending on 12/22/09. Listed on 12-18-09 for $360,000. 4 bedrooms, 3 bathrooms, corner unit townhome on red line shuttle route. Upgraded kitchen and bathrooms. Listing courtesy of Sylvia Bouzaglou, Mammoth Realty Group.

Mountain Shadows #A-1: Sold for $115,000 on 2/3/10 (all cash) Listed on 12-17-09 for $119,900. Studio + 1 bathroom condo, built in 1972. New drywall, paint, carpet/flooring, new kitchen and bathroom. Clean, north-facing getaway condo! Contact Dennis and Tara for more info. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Lodges # 1135: Sold for $689,900 on 1/29/10 (all cash) Listed on 12/7/09 for $689,900. 3 bedrooms / 3.5 baths / 2-car garage. Featuring wood and slate flooring, granite countertops, woodblinds. Overlooks the water feature. Built in 2006. Listing courtesy of Stephanie Cook, Mammoth Realty Group.

Juniper Springs Lodge #315: Sold for $204,900 on 1/29/10 (all cash) Listed on 12/8/09 for $204,900. 1 bedroom / 1 bath slopeside at Juniper Springs. Understructure parking, elevator access, on site coffee shop/convenience store, year round heated pool, 3 spas, fitness room, conference facilites and more! HOA fees include all utilities except telephone. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Solstice 14: SOLD for $320,000 on 1/29/10 (all cash) Reduced to $344,800 on 12-14-09. Reduced to $353,800 on 11/20/09. Back on market on 11/13/09. Listed on 10/8/09 for $362,800. 2 bedroom / 2 bath. Golf course frontage, built in 2006. Granite counters, stacked w/d. Underground parking. HOA/CAF are posted as $1045 per month. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

Aspen Creek #124: SOLD for $191,900 (Conventional Loan) on 1/15/2010. Listed on 10/6/09 for $191,900. 1 bedroom / 1.25 bath located adjacent to Juniper Springs Lodge and Chair 15/Eagle Express. Complex offers pool, spa, sauna, underground parking and elevator access. Original condition, 2 separate vanities, and enclosed patio. HOA includes cable. Listing courtesy of Deanna Lantieri, RE/MAX of Mammoth.

FORECLOSURES SOLD IN 2009

FORECLOSURES SOLD IN 2008

Call or email for more info on the REO and Foreclosure market in Mammoth Lakes. These properties are sold "As-Is" and banks want very short loan and inspection contingencies (if any). Be prepared to provide proof of down payments.

The banks also tend to drop prices every 30 days if no offers have been received.

Short Sales:
A word on short sales in Mammoth Lakes. Early on (2008) when no one knew how to deal with them and banks were only helping those in true need (as opposed to those who own 2nd homes up here), they were not happening. Only in rare cases where the borrow had true hardship (loss of job, death in family, etc) and where the property was their primary residence were these approved. If it was a 2nd home and the bank saw you had other assets you could sell off or cash limits on credit cards to tap into, they would deny the short sale.

Then short sales picked up steam in 2009 and were a way to prevent foreclosure. Banks like Wells Fargo were quick on the ball to approve them (if they fit their formulas) and get them closed. Others, like Countrywide/BofA and WaMu, took forever to review/evaluate.

Then in late 2009 we saw more banks opt to foreclose than deal with a short sale. Maybe it is not as expensive as we thought for banks to foreclose instead of approve a short sale. One recent short sale had three all-cash offers at what we considered was market value, but the bank went ahead and foreclosed on the borrowers and will probably list the property below the price of the three offers.

Then in 2010 we saw the reverse. More and more short sales were getting approved. But often times they were approved only to see that the buyer had lost patience and moved on to another property. So the listing agent scrambled to find another buyer and they were able to at the same price, then the short sales often worked.

Short sale list prices are attractive, but it is not even a real list price. It is a price that may entice an offer, but then the borrower has to submit a 50+ page short sale application to the lender. And most often, it is not just one lender. Many people took out a 'first' and a 'second' loan to purchase the property and have to get agreement from both to reduce the loan amount due to them. In some cases, the 1st will pay off the 2nd at 10 cents on the dollar or $3,000, whichever is less.

Trustees Sales:
Before a property is foreclosed upon, it is auctioned at a Trustees sales at our local escrow office. An interested buyer will need cash to purchase an auctioned property. One way is to have your bank prepare cashier's checks for the starting bid amount and additional checks in appropriate increments up to your highest planned bid amount. If you are the winning bidder, you will then be refunded the difference (if any) between the winning bid amount and your sum of cashier's checks.

These properties as sold as is without any rights to an inspection, leaving a big risk for the buyer of non-working appliances, possible water leaks, and other health or safety issues.

Occupancy may not be immediate, especially if there are tenants in the property who need to be evicted and if there is personal property left behind valued at more than $300.

Buyers are not attending and bidding on most of these sales since the bid amounts are sometimes as high or higher than what they are currently worth on the market (since the defaulting borrower bought them at the peak of the market with 100% financing).

When no one bids at the auction, the property is foreclosed upon and buyers wait until they come back on as an REO ("real estate-owned," or foreclosure).

BLOG - www.ILoveMammothLakes.com for posts about real estate updates and what it is like to live in Mammoth Lakes. News on the Mammoth Yosemite Airport, local news, real estate deals in Mammoth Lakes, etc.

ACTIVE MARKET NUMBERS - Mammoth Lakes: (Updated 6/2/2010)

Mammoth CONDOS
     # Active:                        190 (28 are short sale listings, 12 are REOs)
     # Pending:                     52
     Average Days on Market: 179
     Average List Price:         $425,000
     Median List Price:           $347,000

     Condo Supply:                6.0 months

Mammoth HOMES
     # Active:                        65
     # Pending:                      11
     Average Days on Market: 192
     Average List Price:          $1,609,000
     Median List Price:           $1,099,000

Mammoth LOTS
     # Active:                        42
     # Pending:                     2
     Average Days on Market: 392
     Average List Price:         $890,000
     Median List Price:            $464,000