Market Trends

How to Bridge the Appraisal Gap in Today’s Real Estate Market

If you’re searching for drama, don’t limit yourself to Netflix. Instead, tune in to the real estate market, where the competition among buyers has never been fiercer. And with homes selling for record highs,1 the appraisal process—historically a standard part of a home purchase—is receiving more attention than ever. That’s because some sellers are finding out the hard way that a strong offer...

Mammoth Lakes Real Estate Market Update for July 2021

As of July 1, 2021, the Mammoth Lakes real estate market continues to be hot seller’s market.  What does that mean?  Simply put, it means there are more buyers than sellers.  I continue to receive new buyer calls daily and there are not a lot of options for them.  If/when they do find a property they like, there or multiple offers and often over list price.  The good news for buyers is inventory is...

Buyers Willing To Go the Extra Mile To Win Bidding Wars

Thanks to historically low inventory and high demand for properties, in today’s market, bidding wars are the norm. And in order to give themselves a competitive edge in said bidding wars, many buyers are willing to go the extra mile to make their offers more attractive—including waiving contingencies. According to the most recent REALTORS® Confidence Index from the National Association...

Mammoth Lakes Real Estate Market Update for June 2021

As of June 1, 2021, the Mammoth Lakes real estate market continues to be hot seller’s market.  What does that mean?  Simply put, it means there are more buyers than sellers.  I continue to receive new buyer calls daily and there are not a lot of options for them.  If/when they do find a property they like, there or multiple offers and often over list price.  The good news for...

Homebuyers Should See an Increase in Listings Within the Next Year

There’s no denying that we’re in a tough market for buyers. With historically low inventory, high competition, and rising prices, finding a home has been a real challenge. But buyers, get ready, because it looks like things are about to get at least slightly better for people searching for a home. According to data outlined in a recent realtor.com article, about 10 percent of homeowners...

Mammoth Lakes Real Estate Market Update – May 2021

As of May 1, 2021, the Mammoth Lakes real estate market continues to be hot seller’s market.  What does that mean?  Simply put, it means there are more buyers than sellers.  I continue to receive new buyer calls daily and there are not a lot of options for them.  If/when they do find a property they like, there or multiple offers and often over list price.  The good news for...

2021 Home-Buying Insights From Mortgage Lenders

The majority of buyers purchase their home using a mortgage. So, what do mortgage lenders want buyers to know about buying a home—particularly in today’s hot real estate market? A recent article from realtor.com outlined the key insights mortgage lenders want home buyers to understand if they’re planning to buy a home in 2021, including: Get pre-approved from the get-go. Because...

Mammoth Lakes Real Estate Market Update – April 2021

As we enter the second quarter of 2021, the Mammoth Lakes real estate market continues to be hot.  What does that mean?  Simply put, it means there are more buyers than sellers.  I am answering new buyer calls daily but there are not a lot of options for them.  If/when they do find a property they like, there are multiple offers and often over the list price.  Some people think a...

Is the Real Estate Market Going to Crash?

While many areas of the economy have contracted, the housing market has stayed remarkably strong. But can the good news last? When COVID-related shutdowns began in March, real estate brokers and clients scrambled to respond to the shift. Record-low interest rates caused some lenders to call a halt to new underwriting, and homeowners debated whether or not to put their houses on the market. However,...

Mammoth Lakes Real Estate Market Update – March 2021

There are several different data points to review when analyzing the current state of the Mammoth Lakes real estate market including median price, days on market and total inventory sold. Below is a snapshot of the last several years of transactions closed and current inventory in Mammoth Lakes. Note that this report doesn't include any of the outlying areas beyond Mammoth Lakes. Mammoth Lakes...

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