House of the Day: Mammoth Lakes Lodge Now $7.5M

mammoth lakes

In real estate's Old World Order -- back when homes appreciated in value hourly -- it used to be that the best time to pick up a bargain in a ski vacation home was when all the skiers had gone home: To wit, springtime -- now.

Mammoth Lakes, near Yosemite, has long been Southern California's go-to ski resort, in part because you can fly there in an hour from the Los Angeles basin or, do as most people do, enjoy the scenery along Highway 395 for five or six hours.

Checking in on the market up there now shows bargains to be had, as many condo prices are about 50 percent to 60 percent off their 2007 peak. And there is this not-so-little gem: A long-admired lodge-style house with 8,000-square-feet now listed at $7.5 million. It had been listed at $9.5 million.

While Mammoth Lakes has worked hard to cultivate its image as skiing's "anti-Aspen" -- the high-end amenities have crept both into the town and certainly into the larger luxury homes like this one.

The house, a log cabin lodge built in 2003, makes good use of its mountainous setting and just oozes character and elegance. The ability to watch the snow fall from your glassed-in eating area is pretty magical. And Mammoth is a four seasons' resort area with real fall foliage for all those ex-New Yorkers living in Los Angeles and then outstanding hiking and fishing in the summer.

The home sits on a .75 acre wooded lot, fully landscaped and with spectacular views of Mammoth Mountain, the Sherwins and Mammoth Rock. There are five bedrooms, six bathrooms and an enormous family/entertainment room where all the house action takes place around the Rumford fireplace. Absolutely glorious wood floors here of white and red oak that were originally Pennsylvania barn wood. There is indoor-outdoor sitting and cooking areas and since the lot fronts U.S. Forest Service land, no one will be building near you.

Larry McKee, Century 21 Mammoth Realty, has the listing.

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Here is how you can buy this for $500,000.

1) Let some idiot but it for $7,500,000.

2) Wait 6 months then the bank will foreclose on it because the idiot that bought it had no income.

3) Buy it at public foreclosure auction for $500,000 because the idiot trashed it.

June 02 2011 at 1:48 PM Report abuse rate up rate down Reply

This house has way too much "faux log cabin" character and way too little elegance. This house is too expensive, too stylized, too big, and on a postage stamp sized lot. I expect that this one will be on the market for a LONGGGGG time.

June 02 2011 at 12:32 PM Report abuse rate up rate down Reply

All ads for homes should list the total annual taxes. Otherwise I'm not interested. Why buy an inexpensive home and pay local RE taxes that in a oouple of years exceeds the price of the home. RE Agents should take notice.

June 02 2011 at 11:57 AM Report abuse +1 rate up rate down Reply
Al's Toy

Reply to nitro54651 They don't need to smoke anything they get thier high on greed man.

June 02 2011 at 11:33 AM Report abuse +1 rate up rate down Reply

There is only a .75 acre lot and, evidently, no tennis court. This is way too expensive. I will take a pass on it.

June 02 2011 at 10:55 AM Report abuse +1 rate up rate down Reply

7.5 million for a house worth less that 500K? What are they smoking?

June 02 2011 at 10:18 AM Report abuse +1 rate up rate down Reply

No wonder no one has purchased that house. It is only on three quarters of an acre! Ha ha. This isn't in the city. That's a small parcel of land for a 10 or 7 MM dollar vacation home.

June 02 2011 at 10:14 AM Report abuse +1 rate up rate down Reply
1 reply to ImportantFacts's comment

Goofball. They already told you that the property abuts U.S. Park land that no one will ever build on. I don't know about you, but if my home came with 10,000 acres of free post-card quality mountainous land with a view that I didn't have to pay for, and that was guaranteed never to be developed . . . well I would think I had died and gone to Heaven . . . you chump!

June 02 2011 at 1:36 PM Report abuse rate up rate down Reply