Springtime in Mammoth Lakes

Springtime is in the air here in Mammoth! It’s truly a stunning day and the next few promise to deliver temperatures reminiscent of early summer. We’re experiencing that wonderful time of year when you can get your fill of skiing or boarding, hop on your bike for a quick ride around town and even make it down to Bishop for a short round of golf. But don’t fear, rumor has it that Mammoth Mountain will be open through the Memorial Day Weekend. With tons of snow on the Mountain the skiing/boarding has been great and those who’ve recently purchased their Mammoth Mountain season passes will be pleasantly surprised if they head up here for some spring skiing.

In light of the current economic situation, the Mammoth real estate market has been fairly active over the past five months or so. Most of the buyers have come to realize that the bottom is somewhere near and that if they’re looking for great prices and selection, now is a good time to buy. Where we’ve seen the activity is in those properties that have been priced aggressively to sell. Although we haven’t been bombarded with foreclosures here in Mammoth, they’ve definitely been the driving factor in the prices that we’re seeing now.

As far as Mammoth real estate prices go, we have started to see some signs that certain segments of the market MIGHT be bottoming out. In the Village at Mammoth(Grand Sierra Lodge, White Mountain Lodge and Lincoln House) we’ve seen the last six sales for 2-bedrooms come in around the high $300’s and low $400’s, with one of the more recent sales closing at $440K. Also, In Snowcreek V, we’ve seen a number of 2-bedrooms sell in about the same price range (around $430K) so it appears as though those prices are holding for now.

All that being said, the foreclosures have not ended and we expect to see more come on the market in the future. Currently there are just six foreclosure properties listed in the Mammoth Lakes area with one of those being a commercial property (no single family homes). With interest rates still historically low and sales prices back to 2003 (sometimes 2002) numbers, we expect to see a busy spring and summer season here in Mammoth.

On another note, air service for the Mammoth area came to an end for this ski season (sadly) on April 12th. Because it was such a huge success, there is talk of having multiple flights next ski season (more LA, Bay Area??, Las Vegas??) and possibly even service for the summer of 2010. I can personally say (Tara) that I was fortunate enough to take advantage of the service more than a few times this season and it was wonderful! Even on some days when it was dumping and blowing here in Mammoth, the flight out was perfect. Keep an eye on Horizon Air for next ski season.

Don’t forget, Fishing Season opens next week!

Tara Peterson and Dennis Cox
RE/MAX of Mammoth

Don't forget to visit our website for the latest on foreclosure listings and general Mammoth information!

Mammoth Airport - Conflicting News / 4th of July

According to http://www.ifyouski.com/, scheduled air service will begin for the 2008-2009 ski season to Mammoth/ Yosemite Airport (MMH) from Los Angeles International (LAX) on December 18, 2008. Daily service provided by Horizon Airlines will continue through April 12, 2009. Airline reservations will launch July 14th, 2008. Flight schedule is as follows:

LAX - MMH 14:20 hrs - 15:25 hrs
MMH - LAX 16:05 hrs - 17:10 hrs

The aircraft used will be the Q400, an 80-seat aircraft which services many of Horizon Airlines shorter domestic routes. Mammoth/Yosemite Airport is located only 15 minutes away from the Mammoth Lakes.

However, http://www.visitmammoth.com/ says, "At this time there is no scheduled air service into the Mammoth/Yosemite Airport. An annoucement regarding commercial air service to MMH Airport from LAX will be made on Monday, July 14, 2008. "

And yet, reliable sources say that Bill Manning, airport manager, confirmed that a contract has been signed with Horizon Air.

If/when an official announcement is released, we will post it here.

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Happy 4th of July! I'm getting ready for our Footloose Freedom Mile put on by the High Sierra Striders to pass by my window here at RE/MAX, followed by our town parade (the usual horses, hokey floats, and shamelss plugs by local businesses), and then the 1st annual Pops Concert at Mammoth Creek Park at 2pm, where yours truly will be tooting his own horn in the back of the orchestra for rousing renditions of Star Spangled Banner, America, and the like.

-DC

Mammoth Yosemite Airport update - Horizon Air on the horizon

Great news for our Mammoth/Yosemite Airport!

The FAA recently issued a Record of Decision conditionally approving Horizon Air to establish air service to Mammoth Yosemite Airport (MMH) beginning this December 2008. This definitive step towards having commercial air service into Mammoth Lakes, California once again is good news for our community and for those working for so many years on this idea. For more information, please see the following press release dated May 19th from Stuart Brown, Community Relations Manager for the Town of Mammoth Lakes:

"FAA ISSUES RECORD OF DECISION FOR MAMMOTH YOSEMITE AIRPORT"

Mammoth Lakes, CA – Scheduled commercial air service is one step closer with the Federal Aviation Administration (FAA) issuing its Record of Decision (ROD) approving the proposed Horizon Air Operations Specifications Amendment to allow scheduled air service to Mammoth Yosemite Airport (MMH).

The ROD allows Horizon Air to proceed with implementing commercial air service with two daytime flights between MMH and Los Angeles International Airport beginning in the winter ski season of 2008/2009 (approximately December to April) provided the Town of Mammoth Lakes obtains a 14 CFR Part 139 Class 1 Airport Operating Certificate for MMH. Horizon Air’s initial proposed service utilizes a 76 seat Bombardier DHC 8-400 (Q-400) turbopropeller aircraft.

“This Record of Decision represents a significant milestone for Mammoth in reinstituting commercial air service to Mammoth Yosemite Airport. The process has been lengthy, arduous and not without significant challenges, but the end result will greatly contribute to the economic sustainability of our community,” stated Karen Johnston, Assistant Town Manager. The aviation forecast anticipates that the subsidized winter ski season service could increase to eight flights per day by the winter ski season of 2011/2012 as additional regional markets such as Las Vegas, Northern California, San Diego or alternate Southern California markets are added.

Winter service is not expected to exceed eight flights per day due to the airport facility physical constraints (e.g., terminal capacity, available apron area). The forecast estimates that unsubsidized summer (July through August) air service could begin in 2012/2013 with two flights daily from LAX.

The Horizon Air Final Environmental Impact Statement (FEIS) was prepared and issued by the FAA in compliance with the National Environmental Policy Act of 1969 (NEPA) and the implementing regulations of the Council on Environmental Quality (CEQ). Although the Horizon Air FEIS demonstrates that there would be no significant impacts associated with the proposed action, the FAA prepared an EIS because FAA considered it most prudent in light of the previous injunction issued by the U.S. District Court for the Northern District of California for the Town’s proposed expansion of the airport, and the resources potentially affected by establishment of scheduled air carrier service. "

And to everyone who has said, "I'll believe it when I see it," the work has already begun on the runway, as seen in this photo taken on May 19th.

There were at least a dozen bulldozers scraping the runway getting ready to re-surface it. Local pilot Jon Eller explains that they should be getting rid of a small crown in the runway that prevents pilots at one end of the runway see all the way to the other end. For more information on the airport, including its current closure, click HERE.



To contact us regarding real estate opportunities in and around Mammoth Lakes, visit our website.

Mammoth / Yosemite Air Service Update - A few more steps in the right direction for bring commercial air service to Mammoth Lakes, California

At a recent Town of Mammoth Lakes Council meeting, a number of actions were taken that should bring us a few steps closer to really, truly having commercial air service here in Mammoth (Really!!). According to sources, the council approved the $1,500,000 budget for the renovation of the existing terminal and has awarded the contract to Spiess Construction. As well, it was stated that Mammoth Mountain Ski Area and the Town have signed a letter of intent agreeing to loan funds necessary for the completion of the Airport Terminal up to $1,800,000. The airport is scheduled to be closed to all flights starting May 19th so that construction can commence on the resurfacing of the runway, a contract that has been awarded to Qualcom Construction.

It was also reported that there were no negative comments to the Environmental Impact Statement (EIS) relating to the reinstatement of commercial air service and that a Record of Decision is expected on May 17th.

Horizon Air has signed a letter of intent to bring flights to Mammoth and is expected to be in Mammoth today and tomorrow in order to inspect the layout of the Mammoth Yosemite Airport.

The Airport Commission and Town Council seem to be confident that 2008 will be the year for Commercial Air Service here in Mammoth!