Tag Archives: Mammoth Lakes

Toyota U.S. Snowboard and Freeski Grand Prix

The Toyota U.S. Snowboard and Freeski Grand Prix is this Friday, February 3rd and Saturday, February 4th. Come watch some of the best skiers and snowboarders in the works as they compete on their pathway to qualify for the 2023 U.S. Olympic Snowboard and Freeski teams. Come cheer on your favorites! You won’t want to miss this opportunity to see some of the best athletes in this sport in action.

Visit the official event website for additional information. The event will take place at Main Lodge with contests in Main Park below the chair line of Unbound Express. The sponsor village will be at the base of the competition venue, right off the Main Lodge sundeck.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Dane Deaner on Unsplash

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What’s the Best Use of Your Investment Property?

The residential rental market is now the fastest-growing segment of the housing market. In the United States, the demand for single-family rentals, defined as either detached homes or townhouses, has risen 30 percent in the past three years. And in Canada, rental units now account for nearly one-third of the country’s homes, with particular demand for multi-family units, including apartments and condominiums.

At the same time, the short-term, or vacation, rental market is also booming. The popularity of online marketplaces like Airbnb, HomeAway, and VRBO has helped the short-term rental market become one of the fastest-growing segments in the travel industry.

Now, more than ever, there is an abundance of opportunity for real estate investors. But which path is best: leasing your property to a long-term tenant, or renting your property to travelers on a short-term basis?

In this post, we examine the differences between the two investment strategies and the benefits and limitations of each category.

WHY INVEST IN A RENTAL PROPERTY? The Top 5 Reasons

Before we delve into the differences between long-term and short-term rentals, let’s answer the question: “Why invest in a rental property at all?”

There are five key reasons investors choose to real estate over other investment vehicles:

  1. Appreciation
    Appreciation is the increase in your property’s value over time. And history has proven that over an extended period, the cost of real estate continues to rise. Recessions may still occur, but in the vast majority of markets, the value of real estate does grow over the long term.
  2. Cash Flow
    One of the key benefits of investing in real estate is the ability to generate steady cash flow. Rental income can be used to pay the mortgage and taxes on your investment property, as well as regular maintenance and repairs. If appropriately priced in a solid rental market, there may even be a little extra cash each month to help with your living expenses or to grow your savings.

    Even if you only take in enough rent to cover your expenses, a rental property purchase will pay for itself over time. As you pay down the mortgage every month with your rental income, your equity will continue to increase until you own the property free and clear … leaving you with residual cash flow for years to come.

  3. Hedge Against Inflation

    Inflation is the rate at which the general cost of goods and services rises. That means as inflation rises, the money you have sitting in a savings account will buy less tomorrow than it will today. On the other hand, the price of real estate typically matches (or often exceeds) the rate of inflation. To hedge or guard yourself against inflation, real estate can be a smart investment choice.

  4. Leverage
    Leverage is the use of borrowed capital to increase the potential return of an investment. You can put a relatively small amount down on a property, finance the rest of the investment with a mortgage, and then profit on the entire combined value.
  5. Tax BenefitsDon’t overlook the tax benefits that can come with a real estate investment, as well. From deductions to depreciation to exemptions, there are many ways a real estate investment can save you money on taxes. Consult a tax professional to discuss your particular circumstances.

These are just a few of the many perks of investing in real estate. But what’s the best strategy to maximize returns on your investment property? In the next section, we explore the differences between long-term and short-term rentals.

LONG-TERM (TRADITIONAL) RENTAL MARKET

When most people think of owning a rental property, they imagine buying a home and renting it out to tenants to use as their primary residence. Traditionally, investors would use their rental property to generate an additional stream of income while benefiting from the property’s long-term appreciation in value.

In fact, that steady and predictable monthly cash flow is one of the key advantages of owning a long-term rental. And as an owner, you don’t usually have to worry about paying the utility bills or furnishing the property—both of which are typically covered by the tenant. Add to this the fact that traditional tenants translate into less time and effort spent on day-to-day property management, and long-term rentals are an attractive option for many investors.

However, there are also limitations to long-term rentals, which often come down to your ability to control the property. Perhaps the most obvious one is that you do not get to use the home or closely monitor its upkeep (this is different from a short-term rental, which we’ll share in the next section).

In addition, while you can usually generate a steady, predictable income stream with a long-term rental, you are limited in your ability to adjust rent prices based on increasing or seasonal demand. Therefore, you may end up with a lower overall return on your investment. In fact, according to data from Mashvisor, in the 10 hottest real estate markets, short-term rentals produced “significantly higher rental income” than long-term rentals.

SHORT-TERM (VACATION) RENTAL MARKET

Short-term rentals are often referred to as vacation rentals, as more and more travelers enjoy the benefits of staying in a home while on vacation. In fact, according to Wells Fargo, vacation rentals are steadily growing and predicted to account for 21% of the worldwide accommodations market by 2020.

Investing in a short-term rental or funding your second-home purchase by renting it out can offer many benefits. If you purchase an investment property in a top travel destination or vacation spot, you can expect steady demand from travelers while taking advantage of any non-rented periods to enjoy the home yourself. In addition to greater control over how your property is used, you can also adjust your rental price around peak travel demand to maximize your returns.

But short-term rentals also have risks and drawbacks that may dissuade some investors. They require greater day-to-day property management, and owners are typically responsible for furnishing the property, upkeep, and utilities.

And while rental revenue can be higher, it can also be less predictable based on seasonal or consumer travel trends. For example, a lack of snowfall during ski season could mean fewer bookings and lower rental revenue that year.

In addition, laws and limitations on short-term rentals can vary by region. And in some areas, the regulations are in flux as residents and government officials adapt to a new surge in short-term rentals. So make sure you understand any existing or proposed restrictions on rentals in the area where you want to invest.

Urban centers or suburban communities may be more resistant to short-term renters, thus more likely to pass future limitations on use. To lower your risk, you may want to consider properties in resort communities that are accustomed to travelers. I can help you assess the current regulations on short-term rentals in our area. Or if you’re interested in investing in another market, I can refer you to a local agent who can help.

 WHICH INVESTMENT STRATEGY IS RIGHT FOR YOU?

Now that you understand these two real estate investment options, how do you pick the right one for you? It’s helpful to start by clarifying your investment goals.

If your goal is to generate steady, predictable income with less time and effort spent on property management, then a long-term rental may be your best option. Also, if you prefer a less-risky investment with more reliable (but possibly lower) returns, then you may be more comfortable with a long-term rental.

On the other hand, if your goal is to purchase a vacation or second home that you’ll use, and you want to defray some (or all) of the expense, then a short-term rental may be a good option for you. Similarly, if you’re open to taking on more risk and revenue volatility for the possibility of greater investment returns, then a short-term rental may better suit your spirit as an investor.

But sometimes the decision isn’t always so clear-cut. If your goal is to purchase a future retirement home now to hedge against inflation, rising real estate prices, and interest rates, then both long- and short-term rentals could be suitable options. In this case, you’ll want to consider other factors like location, market demand, property type, and your risk tolerance.

 HERE OR ELSEWHERE … I CAN HELP

If you’re looking to make a real estate investment—whether it’s a primary residence, investment property, vacation home, or future retirement home—give me a call. I’ll help you determine the best course of action and share insights and resources to help you make an informed decision. And if your plans include buying outside of our area, I can refer you to a local agent who can help. Contact me to schedule a free consultation!

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Leeloo Thefirst

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The Felici Piano Trio

Join the Felici Trio and guest Ambroise Aubrun for an evening of music! Chamber music by Beethoven, Janáček and Mendelssohn, this Saturday and Sunday, January 21st and 22nd at the Cerro Coso Community College.

The Felici Trio is the musical home of Belgian pianist Steven Vanhauwaert German violinist Rebecca Hang and American cellist Brian Schuldt. Felici members are prize winners of the Los Angeles Liszt, Yellow Springs, and Osaka music competitions. This trio has performed over 350 concerts in Europe, South America, and the U.S. and has distinguished itself as a unique presence on the national music scene since coming to Mammoth Lakes.

For additional information visit the Felici Trio’s official website and be sure to purchase your tickets today!

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Manny Becerra on Unsplash

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Free Entrance Day in the National Parks

Monday, January 16th enjoy free entrance to your favorite National Parks. There are only 5 free days in 2023 so you will want to take advantage. The fee-free days provide a great opportunity to explore a new place or visit an old favorite!  The entrance fee waiver for fee-free days does not cover amenity or user fees for activities such as camping, boat launches, transportation, or special tours.

Visit the official event website for additional information. Other free days in 2023 are April 22nd, August 4th, September 23, and November 11th.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Thom Milkovic on Unsplash

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For Sale ~ 1111 Forest Trail #1123, Mammoth Lakes CA 93546 — $959,000

FULLY FURNISHED MAMMOTH VILLAGE CONDO!

Fabulous fully furnished 2 bedroom/2 bath unit in the heart of the Village of Mammoth. This ground floor condo overlooks the reflecting pond and pool. Peaceful location. Has newer carpet and paint. Sold fully furnished and ready for a quick sale for the upcoming ski season.

The Village has it all — fitness room, ski access, walk to gondola, restaurants, coffee shop, retail shops, music festivals, underground parking, charging station, pool and spa.

For more information visit Grand Sierra Lodge #1123.

Contact Nancy Davidson for All Your Real Estate Needs! For more information or to schedule a showing visit www.MammothCountry.com or email [email protected]. Let me make your home selling and or buying experience one of a kind!

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

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Woolly’s Tube Park

Woolly’s Tube Park is fun for the whole family with high-speed snow tube lanes and a snow play area for even the smallest of tube enthusiasts to enjoy. Everyone can enjoy a cup of hot cocoa or adults can enjoy a variety of adult beverages.

Bring the whole family and your sure to have a blast tubing down the groomed lanes in your high-speed snow tube. Visit the official Woolly’s Tube Park website to schedule your reservation today!

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Kostiantyn Li on Unsplash

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NYE Fireworks

Ring in the new year with fun and fireworks at the Village at Mammoth NYE fireworks! Dance the last dance of the year to Dead Winter & Co at 8 PM, with the fireworks extravaganza beginning at 9 PM.

Visit the official event website for additional information. Send 2022 off with a bang and get excited to greet 2023 at this one-of-a-kind spectacular celebration. You won’t want to miss it!

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Matt Hoffman on Unsplash

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Grand Opening Celebration

The Coca-Cola Lounge at McCoy Station is now open! Come celebrate the grand opening December 24th through December 30th with fun giveaways, games, snakes, and more. This event is free so come and hang out and grab a Coke and a chili dog or warm pretzel available for purchase from the food cart.

Visit the official event website for additional information and we will see you on the slopes!

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Glade Optics on Unsplash

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Prep Your Home Now for the New Year

Here are some simple maintenance tips that will help keep your home in good shape. Fortunately, most maintenance chores are quick and don’t require any special skills.

Maintaining appliances equals keeping the value in your home. This will help protect your investment, and one of the easiest waysnancy to do this is to keep up with maintenance on your property. It will also make preparations easier when you are ready to sell.

In the kitchen, clean the vent filters on your range hood before they get clogged with grease and dirt. Your range hood helps keep your home clean by pulling cooking smoke and grease out of the air. Disposable filters can be replaced regularly. If you have metal filters, wash them by hand.

Keeping the drip bowls under your stovetop burners clean will help keep your stove in good condition and prevent food particles from burning when you cook. Check the oven door to make sure it seals properly, so you don’t lose heat and energy every time you use it.

Keep your refrigerator running efficiently by vacuuming the coils a couple of times a year. Your refrigerator is one of the biggest energy users in your home.

To maintain your disposal, remove any large pieces stuck inside, then run ice through it to help clean out any small particles. You can add salt or vinegar to the ice for extra cleaning. It’s easy for food to get caught in your garbage disposal, which can create a bad smell in your kitchen. Freshen your entire kitchen by running a few small pieces of lemon or orange peel through the disposal.

For major appliances such as your clothes dryer, save energy and help protect your home from fire by vacuuming the lint out of the dryer exhaust vent at least once a year. Your clothes dryer is another big, expensive energy user in your home.

Your air conditioner will run more efficiently, use less energy, last longer and keep your home cooler if you change your disposable filter at least once a month. If you have a reusable filter, vacuum it every month.

You especially need to keep up with maintenance if you are getting ready to sell your home. By keeping up with these small maintenance projects, you’ll protect your home and make it easier to take care of larger issues as they come up. Contact me today for a consultation on selling your house, and to find out how much your home is worth.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Sidekix Media on Unsplash

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Mammoth Night of Lights

The Night of Lights is back at Mammoth Mountain this Saturday, December 17th. Celebrate the magic of the Holiday season at this one-of-a-kind firework spectacular. In addition to a spectacular show that lights up the Sierra sky, attendees can also enjoy family friendly activities including live music, snowmobile rides, a tubing hill, and more! Plus, keep an eye out for all your favorite holiday friends such as Woolly Mammoth and even Santa!

Visit the official event website for tickets and additional information. This is the most exciting event of the Holiday season you don’t want to miss it.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
[email protected]
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Jamie Fenn on Unsplash

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