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Greetings from Mammoth Lakes,

Fall…warm then cool then warm again.  The fall colors were brought up a bit short this year when we had our first winter snow a few weeks ago.  After 30 some odd years in Mammoth that is just way too early for me.  But you have to love it.  Today it was 65 degrees and not a cloud in the sky.  Temps are suppose to continue in the mid 60’s for a bit so if you are considering coming up you can enjoy the warm days, cool nights and the tail end of the fall colors.

Very exciting news, Horizon Air touched down at the Mammoth Yosemite Airport the morning of October 14th.  The 74 seat, high speed twin engine turbo prop Bombardier Q400 landed at 10:05.  The inaugural flight was meant to give Horizon Air’s staff, select media guests and others a glimpse of what’s to come.  The airport just underwent 12 million in improvements which includes a 5,000 sq. ft. commercial terminal, reconstructed runway and a new automated weather system.  It has been 13 years since our last commercial service.  My hat is off to Mammoth Mountain and The Town of Mammoth Lakes.  What a long, hard road that was.  I am duly impressed.  We have air service starting Dec 18th!!!  For more info on flights and schedules go to www.horizonair.com.

Couple of dates to keep in mind:  November 13 is Opening Day and December 20th is Night of Lights.

And, as always, real estate…  The summer market remained slow.  We saw a pick up in sales towards the later part of summer which has continued into the fall.  Along with the pick up in sales we are seeing more price reductions, foreclosures, and short sales with listing inventories staying about the same.  For anyone needing to sell, my position is the same.  Get it on the market now and be aggressive in your pricing.  The wait for a better price than today could be three to five years away.  Hard to say, time will tell. 

Both locals and second home buyers are still actively looking.  They are all searching for the phenomenal deal.  Almost daily I am seeing new properties come on or price reductions that I consider ‘Wow’ deals.  If you are interested in my monthly ‘Best Buys’ list, let me know and I will email it to you.

Below is my market update comparing the first 9 months of 2005 thru 2008. 


Mammoth/Mono County Real Estate Update
Third Quarter - 2008
Mammoth Lakes, California


Mammoth
Residences Number Closed Median Price
2005 89 $765,000
2006 45 $855,000
2007 40 $882,500
2008 35 $795,000
Currently Active: 93
Currently Pending: 6
Condominiums Number Closed Median Price
2005 425 $539,000
2006 296 $612,500
2007 137 $537,000
2008 154 $494,500
*closings without The Westin 105* $445,000
Currently Active: 272
Currently Pending: 24
Residential Lots Number Closed Median Price
2005 48 $395,000
2006 31 $625,000
2007 16 $550,000
2008 5 $360,000
Currently Active: 59
Currently Pending: 1

Mono County
Residences Number Closed Median Price
2005 141 $719,000
2006 110 $699,000
2007 79 $664,000
2008 59 $575,000
Currently Active: 168
Currently Pending: 11
Condominiums Number Closed Median Price
2005 432 $537,500
2006 304 $589,000
2007 140 $535,000
2008 155* $494,000
*closings without The Westin 106* $447,500
Currently Active: 283
Currently Pending: 24
Residences Lots Number Closed Median Price
2005 103 $350,000
2006 66 $370,000
2007 41 $275,000 2007 -26% over 2006
2008 11 $250,000
Currently Active: 178
Currently Pending: 5

**Current Active and Pending data retrieved 10/20/08**

Know of anyone interested in buying or selling here in Mammoth/Mono County? If you do, please call me. I promise to take very good care of them.

Look forward to hearing from you soon.

Take care and have a great Fall.

Darcy Bauer
Broker Associate
Mammoth Realty Group
760 934 6516
866 500 6515
darcy@qnet.com or
darcy@mammothrealtygroup.com
www.buymammoth.com

If your property is currently listed with another agent, this is not meant as a solicitation. The information in this report was obtained through the Mammoth Lakes Board of Realtors and is deemed reliable, however, accuracy cannot be guaranteed.

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Darcy Bauer, REALTOR®, real estate agent and broker for Mammoth Lakes, Crowley Lake and June Lake, California home listings, property and land for sale - NUMBER1EXPERT(tm)

Darcy Bauer
Mammoth Realty Group

501 Old Mammoth Road
PO Box 100 PMB 574
Mammoth Lakes, CA 93546
Toll Free: 866-500-6515
Local: 760-934-6516
Fax: 760-934-6476
Email: darcybauer@NUMBER1EXPERT.com
Alternate Email: darcy@qnet.com


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