Welcome to Mammoth Real Estate Newsletter
I'm Stacie Robbins, Realtor-Associate, Vacation Specialist, ePRO and TransNational Referral Certified.
In the real estate market, it's key to be informed and 'in the loop' as to what is going on, specifically, here in Mammoth. That includes the real estate climate, political environment on the local level, area growth and potential and sales prices versus listing prices.
Mammoth Real Estate Newsletter is set up just for this purpose. Monthly I provide Mammoth real estate sales statistics as well as details of the properties that sold and links to current listing. The Mammoth Real Estate Newsletter is produced monthly, and sometimes will include two months if market activity is slow, and is sent out via email.
Right now is the time for buyers to have a keen eye on the market if the intention is to eventually buy Mammoth property. Knowing what criteria needs to occur for you to jump in the game and make an offer is critical. Many real estate buyers say, "I'm waiting for the bottom of the market before I buy". But that is a criteria that will NEVER be achieved and I'll tell you why. The bottom of the market is a point on a chart just before an upswing. Problem is that you don't know you're on an upswing until it happens. By that point, the bottom of the market is behind you and prices are already beginning to climb. Also, at this point seller know the power of negotiation is back with them.
My point is that the perfect time to buy is either just before the bottom of the market or, more than likely, when the criteria you set is met and you find a property that meets all of your needs. As far as predicting the point just before the bottom of the market, well, your guess is just as good as mine or any economist you hear making their own predictions.
The market is already down more than 25% from the peak (late 2005 through early 2006). Many Mammoth homes are now valued far less than what is owed on mortgages which is why we are seeing more and more REOs in Mammoth (bank owned properties) and short sales in Mammoth (real estate being sold for less than what is owed).
Short sales and REOs are traditionally sold as is. This means that although you still have a 17 day contingency period to conduct inspects, the seller will most likely not agree to making, or reimbursing you, for any repairs.
If you want to buy Mammoth real estate or real estate in the Eastern Sierras, this is information you can't afford to pass up. It's free, there's no obligation and your information is not shared with any third parties.
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