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Making an offer on a Mammoth Lakes home is a decision that shouldn’t be taken lightly. Offer too much and you may overspend and feel buyer’s remorse. Offer too little and you could get passed by. Fortunately there’s a bit of real estate science to it.

The amount you offer should consider these factors:

1. What have comparable properties sold for in the past three months?

A comparable property is one that has similar square footage, number of bedrooms/bathrooms, amenities, neighborhood, etc. In Mammoth Lakes, other things to consider in “comps” are the view, the HOA cost and the zoning of the area. Your agent should compile a list of comps for you and take into consideration if the sales were regular sales, bank owned or short sales.

2. What condition is the property in?

In Mammoth Lakes, development boomed in the 1960s and 1970s. Many homes have been beautifully renovated, while others haven’t been touched since they were built. Is the property the nicest one in the neighborhood or complex? Or does it look just like it did in 1970? What types of upgrades or improvements has the current owner done? What about the complex?  Look for a project that is well-maintained will little deferred maintenance.

3. How long has the property been on the market?

If a property was just listed, the seller might not have any offers yet and might be hopeful they’ll get their asking price. If it’s been on the market for several months, the property may be over-priced. Your agent can provide some insight by talking to the seller’s agent and seeing how eager they are to sell. Various life events can cause a seller to become more or less motivated to sell, so see if you can get the inside scoop. The seller probably won’t go for an offer that’s more than 5% under the list price unless it’s been on the market for a long time and the buyer has very few contingencies. Of course this all depends on how appropriate the property was priced initially.

4. Do you have any contingencies in your offer?

Offers that depend on an appraisal, financing coming through, or the sale of your current home make offers less attractive to the seller. A seller would rather take a comparable offer with no strings attached than worry about your uncertainties. If you have contingencies, consider offering a higher price to encourage a seller to take your offer. Another consideration is the length of escrow. Some sellers may want a quick escrow while others want to get in one last trip to Mammoth before closing. Your agent can help uncover the goals of the seller.

So what do you actually DO with these four things? Start with the lowest price of the comparable properties (#1). Add or subtract based on the condition of the property (#2). Based on the seller’s motivation (#3), you can add or subtract as needed. If you have contingencies (#4), consider increasing your offer.

I love finding people the perfect home or second home in Mammoth Lakes. Learn more about buying a home in Mammoth Lakes with my Ultimate Home Buyer’s Guide. Give me a call if you’d like to talk: (760) 914-4664.

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Beautiful sunset tonight.

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Sonja was very knowledgeable and competent in selling our house in Mammoth. She is very personable and answered all of our numerous questions with courtesy, humor, and patience. Despite a greatly slowed real estate market, she sold our house in a reasonable time frame. - Stuart F.

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#nofilter Sunday evening neighborhood stroll. ❤️reflections, water, blue skies and fluffy clouds ☁️ #lovewherewelive ...

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If you have a light fixture you want to keep and take with you to your next home, take it down and replace it before you put your house on the market. You can also leave it up and "exclude" it from the sale within your listing, but it can cause issues if a buyer sees it and wants it. Avoid problems by removing it ahead of time.

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Beautiful day at the village. I love the clouds and like to look for shapes or object -- what do you see?

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Amazing two-bedroom condo next door to Canyon Lodge! Ski all season long in this cozy mountain home!

Properties Link Below:
https://www.destinationmammoth.com/properties/

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Hope everyone is having an amazing time at the Mammoth Trail Fest! If you haven't already make sure to check out this awesome event the rest of the weekend!

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Beautifully updated two-bedroom slope side condo just listed for sale. Check it out!

Link in Bio...

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What does “Months of Supply” tell us about the market?

To break it down simply:

📊Balanced Market = 6 to 7 months of supply
There are a relatively even number of buyers and sellers.

📈Seller’s Market = Fewer than 6 months of supply
There are more buyers than homes for sale, thus sellers hold the upper hand.

📉 Buyer’s Market = More than 7 months of supply
There are more homes for sale than willing and able buyers, thus buyers have more negotiating power.

Have a question about current market trends? Reach out at any time! We’re here to help you decode the lingo and make the most of today’s market 👨‍💻

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SNEAK PEAK! This two-bedroom condo next door to Canyon Lodge will be listed for sale in the next 24 hours!

Check out an early video tour now on our YouTube!

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I love working with awesome realtors like Heidi Vetter! How thoughtful is this?!” @vetter_heidi ...

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If your agent isn't available, don't call a random agent to show you a house you're interested in seeing if you plan on having your agent write an offer if you like the house. Agents don't get paid for simply showing houses, so it's inconsiderate to ask an agent to show you a house they have no chance of selling to you.

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The Mountain & Adventure Film Festival is entering its 9th year, this 3 day, free festival celebrates the best adventure films and athletes of the year. Films are shared nightly, outdoors, in the Mammoth Mountaineering Supply parking lot. Runs Thursday September 22nd - the 24th!

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What is your favorite season in Mammoth Lakes? #destinationmammoth #visitmammoth ...

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The Destination Real Estate team will definitely volunteer for the cause.

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You know, I hear there are a lot of trees in Mammoth Lakes... hmmmm...

In a study published in July 2015, a team of psychologists concluded that "having 10 more trees in a city block, on average, improves health perception in ways comparable to an increase in annual personal income of $10,000 and being 7 years younger."

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