The Christine Galbreath Mammoth Real Estate Blog

Mammoth Lakes Athletes Excel in Recent Competitions

A follow up from the Canyons in Utah Skicross results where 3 Mammoth locals excelled:
As a reminder John Teller took 1st place, which also ranked him as the U.S. Men’s National Champion.  Tyler Wallasch took 2nd place in that race. Madeline Riffel took 2nd place, which ranked her as the U.S. Women’s National Champion.

As the ski racing season is coming to a close, the racers have ramped up their schedules and have been competing in Canada and Europe.

John Teller took 3rd in Oslo, Norway in the Freestyle World Championships on March 10th.    He is currently ranked 1st in the United States and 9th in the world.  John suffered an injury and has taken a couple weeks off, but he is gearing up for the World Cup Championships in Sierra Nevada, Spain this Sunday, March 24th

Tyler Wallasch has been Madeline Riffel, Mammoth Lakes, CA Residentcompeting on the Europa Cup and is currently ranked 24th.

Madeline Riffel took a 1st Place and a 4th place in Canada last weekend, March 16th & 17th at the Panorama NorAm races.  She is currently ranked 2nd in the U.S. and 4th in the NorAm Circuit.  Madeline will be competing in Valmalenco, Italy at the Junior World’s Skicross on March 29th. (Photo: Madeline center)

Please be cheering these Mammoth locals on as they finish up this year’s Skicross World Championships

Mammoth Runner, Deena Kastor, competed in the Los Angeles Marathon last Sunday and finished third, with a time of 2:32:38.  This was Deena’s first marathon since the birth of her 2 year old daughter Piper.  Deena holds the American women’s marathon record of 2:19:36 which she set by winning the London Marathon in 2006.  Deena has also earned a bronze medal in the Women’s marathon in the 2004 Olympics and has won a myriad of other races.  She is in an elite group of women runners to make the National Championships for four consecutive years.  Deena and her husband Andrew have hearts of gold.  They personally encouraged my son Chad when he was in high school and were instrumental in getting him accepted to UCLA as a cross country runner.

The new Whitmore Park Track and Sports Field which had its grand opening November 17, 2012 will be attracting many world class athletes looking to train and gain the benefits of high altitude in 2013.

There are many fine athletes that make Mammoth their home and have been very successful in their different sports. Mammoth is truly a year round resort with excellent training venues for both summer and winter sports enthusiast.

Now is an excellent time to consider buying a home, condo or lot.  Much of California seems to be recovering their property values and Mammoth as a second home market, is on the verge of this as well.

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Boomerang Buyers - Buying Post Short Sale or Foreclosure

"Boomerang Buyers" are those who purchased homes and either did a short sale or foreclosed and then rebuilt their credit and bought again. Boomerang sales are on the rise. The most important factor in purchasing a home after shorting or foreclosing is rebuilding your credit - stay current on all bills (utilities, HOA's, car payments, credit cards, etc.). Here is the breakdown on waiting periods for buying again:

Foreclosure
7 years for a government backed Fannie Mae or Freddie Mac loan.
3 years for a Federal Housing Administration (FHA) loan.
1-2 years fir a FHA loan if there were extenuating circumstances (such as illness or death of a wage earner).

Short Sale
7 years for Fannie Mae or Freddie Mac with less than 10% down.
4 years for a Fannie Mae or Freddie Mac with 10% down.
2 years for a Fannie Mae or Freddie Mac with 20% down - extenuating circumstances.
3 years for an FHA loan.

Deed in Lieu of Foreclosure
7 years for Fannie Mae or Freddie Mac with less than 10% down.
4 years for a Fannie Mae or Freddie Mac with 10% down.
2 years for a Fannie Mae or Freddie Mac with 20% down.
3 years for an FHA loan.
1-2 years for an FHA loan with extenuating curcumstances.

Source: Fannie Mae, Department of Housing and Urban Development, Wells Fargo
**Each mortgage is case by case dependent on current employment, debt, savings, etc.

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Mammoth...A Dream for Locals Coming True

Mammoth...A dream for locals coming true!

John Teller and Madelaine Riffel

What an exciting week it has been for 3 Mammoth locals that all took center stage in last week’s Skicross finals at the U.S. Grand Prix at Canyons in Utah.

Madeline Riffel, took 1st place for U.S. women’s national championships for Skicross.   She was 2nd to finish, but the 1st American so has taken the national title.  I have known Madeline since the day she was born, so it is truly exciting to see her flourish as I also know and have an understanding for her commitment to the sport.

John Teller took 1st place for the U.S. men’s national championships for Skicross, and was also 1st place finisher overall.  Another local Tyler Wallasch took 2nd place.

John Teller has been a coach to both Madeline and Tyler.  John has been around the sport for several years while Madeline and Tyler are just beginning their careers, and at 18 having a very successful start! Madeline is currently training under James Tautkus.

People come to Mammoth because it is a beautiful place to recreate, to perfect their skiing, snowboarding, cross country skiing and other athletic skills.  We have many families that make the trip to Mammoth every weekend so their kids can enroll in and be part of the Mammoth Ski Team.

Mammoth is about a lifestyle, family memories, friends and a beautiful place to live and visit.  The success of the locals competing on a national level is also evidence of what Mammoth Mountain has to offer in terms of terrain, lessons, safety, and an unusually long ski season.

I will be following the success of these 3 skiers and especially Madeline Riffel.  Yes, she is related to my broker!  John has gone on to Oslo, Norway and Madeline may be competing in Canada this next week.

I will continue to update on the local real estate market, trends, interest rates, construction costs, local news, ordinances, new businesses, and other things that are of interest, but love the opportunity of sharing the success of the locals that make Mammoth their home.

The real estate market may be at the bottom, but the life style Mammoth offers is worth more than gold!   Come and join us as we cheer on our next generation of successful Mammoth athletes. 

Mammoth is more than a home or a condo, it is about quality of life and a relationship, which makes buying something second nature!

 

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