Right Place. Right Time. RIGHT PRICE.

Posted April 22, 2016 by lgonella
Categories: Merced County Real Estate, Real Estate Market Update, Sellers, Uncategorized

Tags: , , ,

As we move into the spring buying season, inventory has hit the lowest level in 12 months.

1 yr Inv

In the last 24 months the median list price has increased by 50% while the median sales price rose only 24%.

2 yr mlp v sp

This points out that there is a wide gap between what sellers are asking for, and what buyers are paying.

This is also reflected in the large number of homes that require a price reduction before they sell, as well as in the length of time properties are remaining on the market.

2 yr DOM

Days on market showed an increase of 40% from 38 days in 2014 to 53 days in 2016.

Best advice we can give sellers:

Make sure your home is priced correctly from the beginning.

 

If you would like information on the current value of your property we have 2 Residential Sales Offices, located conveniently in Merced and Atwater.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Hoffman, or Assistant Property Manager Tina Winek.

Email: KHoffman@gonellarentals.com;

TWinek@gonellarentals.com

Phone:                                         209-383-6277

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

The Power(Point) of Real Estate

Posted March 28, 2016 by lgonella
Categories: Merced County Real Estate, Real Estate Market Update, Rental Market, Uncategorized

Tags: , , ,

Title Slide

Last week, CBGR’s Broker, Loren Gonella, presented his Annual Real Estate Update to both the Merced County Association of REALTORS®, and the Greater Chamber of Merced, as well as presenting at our monthly sales meeting.

Needless to say, it was a crazy week!

In case you missed them, here are some highlights of these presentations:

  • Local residential prices increased, however, at a slower rate. (click here for chart)
  • Residential for-sale inventory remains very tight, not just at the local level, but at the state & national levels as well.
  • Locally, new residential construction is gaining momentum with 85 permits pulled for new homes in the city of Merced, and 112 in the city of Atwater in 2015. (In 2014 Merced had 53, and Atwater had 44!)
  • Rental Market: Inventory is tight, and rents are increasing.
  • Shopping / Retail Centers: are about the same as 2014
  • Office Space: has an oversupply, and rents are negotiable
  • Industrial Space: Inventory is improving and there is an upward pressure on rents.
  • Agriculture: Commodities are experiencing downward pressure, and this is causing downward pressure on prices.

(and these are just the highlights!)

If you are interested in finding out about Loren coming to speak to your group please do not hesitate to contact him:

Loren Gonella          lgonella@gonellarealty.com

                                                    209-383-2171

If you are interested in understanding how all this great information relates to you as a buyer or seller, any of our qualified agents will be happy to assist!

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Commercial Office:                  209-725-7253

 

If you are interested in renting, contact our Property Management:

Email: KJameson@gonellarentals.com

TWinek@gonellarentals.com

Phone:                                         209-383-6277

 

MERCED RENTAL INVENTORY IS LOW

Posted November 2, 2015 by lgonella
Categories: Merced County Real Estate, Rental Market

Tags: , , ,

for-rent-sign

Are you seeing less of these signs?

In the ’80s & ’90s the available inventory of rentals was very low.  Starting in 2000 and up until 6 months ago the rental inventory in the Merced area has been normal to very high.  As a result rents have remained relatively stable and landlords have not been able to increase rents.

However, in the last 6 months rental inventory has decreased drastically.  Some possible reasons for this are:  the increase in the UC Merced student population; potential buyers may be priced out of the market due to increasing sales prices and turning to rentals; or some potential buyers may be opting to rent in order to stay mobile.

So… it means:

If you are considering selling your rental property, please contact one of our agents- you may be pleasantly surprised at the value of residential income properties in today’s market.

Conversely, if you are considering investing now is a great time to contact one of our sales professionals:

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Commercial Office:                  209-725-7253

If you are interested in renting, contact our Property Management:

Email: KJameson@gonellarentals.com

TWinek@gonellarentals.com

Phone:                                         209-383-6277

The Market Continues to Improve!

Posted July 1, 2015 by lgonella
Categories: Merced County Real Estate, Real Estate Market Update, Uncategorized

Prices continued to rise to $197,000 in May of 2015, from $169,000 in May of 2014.  This is an increase of 16% instead of stagnating.

  1 yr msp

During the 3rd and 4th Quarters of 2014, inventory was steadily increasing and approaching normal levels.  Starting in January of 2015, the inventory began dropping and is NOW BELOW the 2.8 months we were at in May of 2014, to 2.4 months currently.  This is extremely low.

1 yr inv

The number of sold properties by month has been steadily increasing since January of 2015.

1 yr sold

SUMMARY:

Prices are up; Inventory is very low AGAIN; and the volume of sales is increasing!

SO…

If you are curious about when would be a good time to place your property on the market, the answer is NOW.

We have 2 Residential Sales Offices, located conveniently in Merced and Atwater.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

To be pre-qualified for a loan, contact Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                         209-261-4320

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Hoffman, or Assistant Property Manager Tina Winek.

Email: KHoffman@gonellarentals.com;

TWinek@gonellarentals.com

Phone:                                         209-383-6277

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

1st Quarter of Real Estate in 2015- the Highlights

Posted April 30, 2015 by lgonella
Categories: Merced County Real Estate

Tags: , , , ,

Prices continued to rise to $195,000 in March of 2015, from $149,000 in March of 2014.  This is an increase of 31% over 12 months.

1 year MSP

During the 4th Quarter of 2014, the inventory steadily rose to 5.5 months in December.  Starting in January of 2015, and continuing throughout the 1st Quarter, inventory dropped like a rock and at the end of March was down to 2.3 months.

1 year Inv

Summary:  Prices continuing to move up, and inventory at near record lows! For sellers this is indicative of a strong markets- so if you are considering selling, now is the time!

We believe that the market will continue to remain strong throughout the remainder of the Spring / Summer selling season.

For buyers- interest rates continue to remain at near historic lows, even though the inventory is tight.  Our agents can utilize the Multiple Listing Service’s auto-prospecting program to notify you immediately when a property that matches your purchasing criteria is placed on the market.

We have 2 Residential Sales Offices, located conveniently in Merced and Atwater.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

To be pre-qualified for a loan, contact Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                         209-261-4320

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.

Email: KJameson@gonellarentals.com;

TWinek@gonellarentals.com

Phone:                                         209-383-6277

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

So What Will Happen to Real Estate in 2015?

Posted March 26, 2015 by lgonella
Categories: Merced County Real Estate

Tags: , , , ,

If you take a look at the change in Median Sold Price from February 2013 to February 2015 we see a 34% increase from $127,000 to $170,000 in 2 years.

 2 yr (2)

However, if you look at the change in Median Sold Price from February 2014 to February 2015, we see a 6% decrease from $180,000 to $170,000 in the last year.

1 yr (2)

Going forward, we believe that prices will continue to appreciate, however at a much more modest rate of +/- 7%-10% per year.

A 34% appreciation rate is not sustainable; we believe that the market is moving back towards the slower appreciation rates we experienced in the 80’s & 90’s.

So What Does That Mean???

For Buyers: It means that homes purchased will continue to appreciate (however, at the slower rate) and are still a good investment!

For Sellers:  It means that homes are selling, although sellers need to be sure their homes are priced correctly before being placed on the market.

With interest rates still at historic lows and more homes to choose from, now is an excellent time to buy your new home.

To be pre-qualified for a loan, contact Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                         209-261-4320

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.

Email: KJameson@gonellarentals.com;

TWinek@gonellarentals.com

Phone:                                         209-383-6277

If you are interested in selling, you may be surprised at the market value of your property.  If you would like a current market analysis of your property, please contact one of our highly trained agents.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Commercial Office:                  209-725-7253

Is Now A Good Time to Buy?

Posted December 15, 2014 by lgonella
Categories: Merced County Real Estate

Tags: , , ,

Home values continue to appreciate; however, at a slower rate.

MSP - 2 yr

Inventory remains somewhat tight.

Inventory- 1 year

Demand is very steady.

 Supply & Demand 2 yr

It is important to note that expired properties are still increasing at a dramatic rate.  We believe this is due to sellers not pricing their homes correctly.

Expired 2 yr

With interest rates still at historic lows and more homes to choose from, now is an excellent time to buy your new home.

To be pre-qualified for a loan, contact Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                                              209-261-4320

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Hoffman, or Assistant Property Manager Tina Winek.

Email: KHoffman@gonellarentals.com;

TWinek@gonellarentals.com

Phone:                                                           209-383-6277

If you are interested in selling, you may be surprised at the market value of your property.  If you would like a current market analysis of your property, please contact one of our highly trained agents.

Merced Sales Office:                                  209-383-2171

Atwater Sales Office:                                 209-358-6429 

Commercial Office:                                    209-725-7253


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