Condominium median
$325,000
$500,681 in 2026 money
Mammoth Lakes in 2009
A condominium sold for a median of $325,000 — $500,681 in today’s money, 37% below where it stands now. The Mammoth Times ran 177 stories we can still read.
Snowfall
470"
season total at the main lodge
Housing approved
5
residential units authorised
Lodging tax
$9,701,283
collected by the Town
What happened
- Economy & ratesFannie Mae condo-project lending crackdown
Post-crisis Fannie Mae underwriting flagged resort condo projects with front desks and condo-hotel characteristics as risky, imposing project-approval scrutiny.
Fannie Mae is tightening on condo projects that have ostensible “front desks” and other “risky” red flags
Paul Oster Broker Report → - Building & developmentIntrawest condo-hotel fire sale
Intrawest re-opened its Playground sales arm and began liquidating roughly 60-70 developer-owned Westin Monache units at deep discounts.
you can now purchase for a substantial (20-30%) discount off of what buyers were closing at just a year ago
Paul Oster Broker Report → - Economy & ratesFederal foreclosure intervention delays the correction
Federal stimulus and housing legislation plus foreclosure-intervention programs mass-postponed trustee's sales in Mono County from late 2008 through 2009.
will now only further postpone the inevitable and will prolong and flatten the downward slide of real estate values
Paul Oster Broker Report → - Economy & ratesMammoth REO discount cycle sets the price floor
By March 2009 the entire inventory of foreclosed and lender-owned units in the Village had cleared, with nothing visible in the 8-12 month foreclosure pipeline.
These REO sales have been major discounts (some up to 60%) from the peak values.
Paul Oster Broker Report → - Policy & taxFannie Mae condo-hotel financing freeze
Fannie Mae's post-crisis policy reclassified projects with on-site front-desk rental programs as "condo hotels," killing conventional financing across roughly half of Mammoth's condo projects.
The downstream effect––cash buyers only in these projects. And guess what, cash buyers want a discount.
Paul Oster Broker Report →
What the paper was writing about
Headlines only, linked to the Mammoth Times. We read the Internet Archive’s copies and cite the paper; the words are theirs.
- 01-15The Uniqueness of Basic Aid School Districts
- 02-05Mammoth Mountain: What happend, what’s next?
- 02-12Checking in on Hot Creek
- 03-06Is there gold in these hills?
- 03-06He’s got the perfect ski for you
- 03-27Campground concessionaire Frederickson loses two-decade gig
- 04-11Teamwork and big-hearted principal leads to distinction at Mammoth Middle School
- 07-24Mammoth’s first and only cemetery
- 07-24Personal triumphs mark June Lake Triathlon
- 07-31Vive La France
- 09-11News Breifs 9/11/09
- 11-20Doing my homework on medical marijuana dispensaries
- 12-04Diversity marks Mammoth’s 3rd Annual Film Festival
- 12-24Mammoth’s geothermal institute gathering steam
163 more stories from 2009 are in the corpus.
The ground
15 recorded earthquakes of magnitude 2.5 or greater in the Long Valley Caldera, the largest at M3.4.