Foreclosures

www.MammothLakesForeclosures.com

UPDATED DAILY!  Click on the following buttons to view the active Foreclosure listings in our area.

Bank-Owned / REO CONDOS in Mammoth
Bank-Owned REO HOMES in Mammoth (Video of 294 Wagon Wheel for $520k here: https://youtu.be/Nxv8UtCNPc8
Bank-Owned / REO OTHER in Mammoth (Vacant Land, Multi-Family)
Bank-Owned REO’s in Surrounding areas (Crowley Lake, June Lake, Bishop)

 

** CLICK HERE for Upcoming Trustees Sales **

** CLICK HERE for Recent Trustees Sale Results **

Overall, inventory is very low. Short sales can be good options as well, however serious sellers will price their properties aggressively and there are great deals to be had. We’ve seen a number of short sales close for amazingly low prices.

Call Dennis & Tara for more details on a any listing or for information on PENDING listings, as we are not allowed to post pending information online.

You can also give us your email address and what type and size of property you are looking for and in what price range and we will consistently send you listings which match your criteria. We can also provide sales comparables for any of the listings above.

 

Disclaimer: Information above is taken from the listing details from the Mammoth Lakes Board of Realtors Multiple Listing Service.  It is for the consumer’s personal, non-commercial use.  This information is deemed reliable but is not guaranteed.Call Dennis & Tara for more details on a any listing.

 Sales Statistics for 2015 REO’s in Mammoth:

# of Foreclosed CONDOS Sold: 6 Financing:
Time on market: # Sold: Sales Price as % of Original List Price:  Cash: Loan:
    <1month  1  100%  1  0
    1-2 months 2 98% 0 2
    2-3 months 1 97%   1 0
    3-4 months 1 93%  0 1
    4-5 months 1 91%  0 1

 Sales Statistics for 2014 REO’s in Mammoth:

# of Foreclosed CONDOS Sold: 10 Financing:
Time on market: # Sold: Sales Price as % of Original List Price:  Cash: Loan:
    <1month
    1-2 months 2 103%  2 0
    2-3 months 4 97%   1 3
    3-4 months 1 104%  1 0
    4-5 months 3 90%  0 3
# of Foreclosed HOMES Sold:  4 Financing:
Time on market: # Sold: Sales Price as % of Original List Price:  Cash: Loan:
    <1month
    1-2 months
    2-3 months 3 96%   1 2
    4-6 months 1 90%   0 1
    >6 months 0  0 0

Sales Statistics for 2013 REO’s in Mammoth:

# of Foreclosed CONDOS Sold:  25 Financing:
Time on market: # Sold: Sales Price as % of Original List Price:  Cash: Loan:
    <1month 16 102%   9 7
    1-2 months 17 96%   9 8
    2-3 months 4 98%   3 1
    3-4 months 6 92%   4 2
    4-5 months 2 97%  0 2
# of Foreclosed HOMES Sold:  13 Financing:
Time on market: # Sold: Sales Price as % of Original List Price:  Cash: Loan:
    <1month 4 102%   2 2
    1-2 months 2 97%   1 1
    2-3 months 4 94%   3 1
    4-6 months 3 92%   1 2
    >6 months 0  0 0

Reporting of sales information in the following section is not meant to imply that the owners of this website were involved with every single transaction. Based on information from the Mammoth Lakes Multiple Listing Service (MLS) for the dates stated in each sale. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.

 

**  Please call or email us for information on any pending or sold REO’s. **

 

Call or email for more info on the REO and Foreclosure market in Mammoth Lakes.  These properties are sold “As-Is” and banks want very short loan and inspection contingencies (if any).  Be prepared to provide proof of down payments.

The banks also tend to drop prices every 30 days or so if no offers have been received.

 

Trustees Sales:

Before a property is foreclosed upon, it is auctioned at a Trustees sales at our local escrow office.  An interested buyer will need cash to purchase an auctioned property.  One way is to have your bank prepare cashier’s checks for the starting bid amount and additional checks in appropriate increments up to your highest planned bid amount. If you are the winning bidder, you will then be refunded the difference (if any) between the winning bid amount and your sum of cashier’s checks.

These properties as sold as is without any rights to an inspection, leaving a big risk for the buyer of non-working appliances, possible water leaks, and other health or safety issues.

Occupancy may not be immediate, especially if there are tenants in the property who need to be evicted and if there is personal property left behind valued at more than $300.

Buyers are not attending and bidding on most of these sales since the bid amounts are sometimes as high or higher than what they are currently worth on the market (since the defaulting borrower bought them at the peak of the market with 100% financing).

When no one bids at the auction, the property is foreclosed upon and buyers wait until they come back on as an REO (“real estate-owned,” or foreclosure).

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