Archive for the ‘Merced County Real Estate’ category

The Numbers Are In for Merced County!

April 16, 2013

Image

The Median For Sale Price has increased $45,000, or 38%, from March of ‘11 to March of ’13 to $164,900.

The Median Sold Price is also up, increasing $27,000, or 23%, to $142,000 in the same time period.

Image

Inventory has dropped drastically in the last 2 years. In March of ’11 the inventory in Merced County was 3.6 months.  By March of ’13, it was down to 0.9 of 1 month.  This is a drop of 76%!

With the extreme lack of inventory, and prices continuing to increase, now is an excellent time to speak with an agent about finding out what your home is worth in today’s market- you may be pleasantly surprised.

Merced Sales Office:                                  209-383-2171

Atwater Sales Office:                                 209-358-6429

Median Sales Price Continues to Increase!

October 15, 2012


The median sales price in September of 2012 was $139,900. This is an increase of 27% over September 2011. Local home values have hit the bottom, and continue to move up.


While home values are on the rise, the inventory of available homes for sale is moving in the opposite direction.

In September 2012 the available inventory was 1.3 months, whereas in September 2011 it was at 4.1 months. This is a decrease of 68%! When homes are placed on the market they sell quickly and, in many cases, for more than the asking price.

For more information, or if you would like to speak with a sales person about selling your home, please feel free to contact us today at one of the following numbers.

Merced Sales Office:                                                   209-383-2171
Atwater Sales Office:                                                  209-358-6429

We also offer professional property management services:

Gonella Property Management:                           209-383-6277

Inventory Remains Very Tight – Home Values are Increasing

August 15, 2012

Not only have home values bottomed out, they are increasing. When we compare the median sold price of $109,450 in July 2011 to $132,000 in July 2012 we see an increase of $22,500 – or 21%!

The inventory continues to remain very tight. The inventory for Merced currently stands at 1.3 months, which greatly benefits sellers.  Sellers are continuing to receive multiple offers, and in some cases, offers above list price.

For more information, or if you would like to speak with a sales person about selling your home, please feel free to contact us today at one of the following numbers.

Merced Sales Office:                                                  209-383-2171
Atwater Sales Office:                                                 209-358-6429

We also offer professional property management services:

Gonella Property Management:                          209-383-6277

Legal Update with Neil Kalin

June 19, 2012

Coldwell Banker Gonella Realty was proud to welcome Neil Kalin when he led a seminar for our agents this past Thursday, June 14, 2012. Mr. Kalin, the Assistant General Counsel with the California Association of REALTORS® (C.A.R.), came to Merced to update Gonella Realty on the changes that have taken place in real estate law.
Mr. Kalin’s 90 minute seminar focused on a number of different areas. He spoke of several new laws such as changes in small claims court limits, new discrimination laws based on gender, as well as new rules regarding licensees’ behavior towards appraisers. Neil also presented new and revised C.A.R forms, in addition to updating our agents on the most recent case law affecting real estate sales, leases, and property management.
At Gonella Realty, we believe it is vital for our agents to constantly strive to be the best possible resource for our clients, both by having a solid foundation in current real estate laws and regulations as well as having an in-depth understanding the present market.
We would like extend our appreciation to Mr. Kalin for his time and outstanding information.

Merced ranked in the top 10!

June 14, 2012

According to the special report by Inman News – “10 Prime Real Estate Markets for First-Time Buyers,” Merced, CA is considered 4th in the nation! As stated in the article, “The markets in this report were chosen based on the percentage of all home sales in the area made to first-time buyers with FHA-insured loans in 2011.” 4 of the 10 markets listed are in the Central San Joaquin Valley.
The complete list of markets is as follows:

    1. Wilmington, Del.-Md.-N.J.
    2. Charleston, W.Va.
    3. Visalia-Porterville, Calif.
    4. Merced, Calif.
    5. Fresno, Calif.
    6. Hagerstown-Martinsburg, Md.-W.Va.
    7. Modesto, Calif.
    8. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
    9. Atlanta-Sandy Springs-Marietta, Ga.
    10. Camden, N.J.

So, what makes Merced such a friendly environment for first time home buyers?  The largest of several contributing factors is the drastic drop of 71.5% in median sales price from the peak in 2006.

Our very own Dorothy Kielty, from Coldwell Banker Gonella Realty Merced Office was quoted with the following explanation:

“With the drop in prices to 1989 levels, many first-time homebuyers who were left behind when prices were climbing and thought they would never be able to buy a home are taking advantage of these low prices to get themselves situated.”

Stay tuned as we look at the other contributing factors in the next coming weeks!

To get started buying your first home, click here!

Now is a Fantastic Time to Sell!

June 11, 2012

According to Clarus Market Metrics, the inventory in Merced County’s MLS (Multiple Listing Service) is 1 month.  In my 34 (soon to be 35) years in real estate, I have NEVER seen inventory this low!

As  sellers place their property on the market, many are receiving multiple offers,  a number of the offers that are often above the asking price, and in many cases the offers are all cash.

The sales data indicates that we have bounced off of the bottom and that home prices are definitely increasing.

Note the trend line for 2012- it is heading straight up!  The median sold price in May ’12 was $115,750. This is an increase of over 5% from $110,000 in May ’11.

So, if you have been thinking of selling your property, now is a GREAT time to take advantage of the low inventory, increasing prices and the large number of qualified buyers.

Call us today for professional real estate assistance:

Merced Sales Office:                                   209-383-2171

Atwater Sales Office:                                  209-358-6429

Commercial Office:                                     209-725-7253

Property Management Office:                209-383-6277

Helping Merced Feed the Hungry

May 9, 2012

Loren Gonella kicking off the auction

Yesterday, May 8th, at the offices of the Merced County Association of REALTORS® (MCAR), Coldwell Banker Gonella Realty, along with Century 21 M&M and Associates, sponsored the annual auction through MCAR’s Charitable Foundation to benefit the Salvation Army, Merced County Food Bank, as well as the Merced County Rescue Mission. The auction raised more than $22,000 which will be used to help those in need in our local area.

This year’s event was a fantastic success – as we were able to fund-raise over $6,000 more than the previous year!

We each want to express our appreciation to everyone who donated items, all of you who attended, and each of our generous sponsors. This is a prime example of what can take place when competitors stop competing for a moment and unite to help mankind.

Members enjoyed a variety of foods donated by several sponsors

Captain Joel Harmon of the Merced Salvation Army

Generous Sponsors helped this event be so successful!

Loren Gonella with Diedre Kelsey of the Merced County Board of Supervisors

Check out our Facebook page for more photos of the auction!

Why Should I Sell My House Now???

May 4, 2012
  •  Inventories are at historic lows.  In March of 2012, the Multiple Listing Service reported an inventory level of 1.3 months. This means that if no new properties came onto the market, and we continued to sell them at the current rate, in 1.3 months there would be no houses left to sell.

  • Affordability is at an all time high.  Currently, Merced is one of the most affordable places in the United States with 85% on the affordability index, meaning that 85% of the local population can afford to buy a median priced home. This is a huge difference when compared to the 11% of the population that could afford to buy during the peak in September of 2005.

  • With so many buyers chasing so few properties most sellers receive multiple offers- which usually results in the seller obtaining a higher price.
  • Approximately 35% of all offers being written today are ALL CASH. With cash offers the seller does not have to worry about the buyer qualifying for a loan or the property not appraising for the sales price.

In summary, now is an excellent time to place your home on the market. Call us today to find out the value of your property in today’s appreciating housing market.

Merced Sales Office:                                          209-383-2171
Atwater Sales Office:                                         209-358-6429

Why am I having trouble buying a house?

March 19, 2012

With the all of the changes that the real estate market has endured throughout the current economic climate, it is imperative that we keep a very close eye on several aspects of the market in order to understand the challenges that buyers and sellers may face.  One of the key factors we analyze is the current inventory of homes for sale.

One of the reasons buyers may be having trouble securing a home is that there are so few properties for sale.  In January of 2012, the Multiple Listing Service reported an inventory level of 2.2 months.  This means that if no new properties came onto the market, and we continued to sell them at the current rate, in 2.2 months there would be no houses left to sell.

At an inventory level of 6 months the market is considered to be in balance and when inventory exceeds 1 year there is considered to be an oversupply. So at 2.2 months, when a property comes onto the market and is priced correctly, it typically sells in a short period of time and usually obtains multiple offers – some of which will be all cash.

If you are currently in the process of looking for a home and if you keep in mind the low level of inventory, this awareness should help you in structuring your offers to increase the chances of them being accepted.  A few important points to consider when structuring your offer:

  1. A good deposit to show you are serious
  2. Full price offers, or in some cases, offers that are above asking price when there appears to be a lot of competition.
  3. Keep your conditions to a minimum

On the other hand, if you have been thinking of selling your property, NOW is an excellent time, as values are increasing and homes are selling quickly!

Don’t forget to keep checking back with us this month as we cover some of the other topics that are vital in today’s real estate market.

Success Starts with Information

March 1, 2012

Loren Gonella

In the real estate industry, a vital aspect of the services we offer is the sharing of information.  Coldwell Banker Gonella Realty strives to secure the most current and accurate data, in order to remain the best resource possible for our clients and our community.

Loren Gonella, Broker/Owner of CB Gonella Realty, was asked by several groups and organizations to present his overview on the changes that the national, state and local markets underwent in 2011, as well as to offer a forecast for 2012.

January proved to be the perfect starting point, when Loren was well received by the Merced Rotary Club.  February included the presentation of a full update to the Merced County Association of REALTORS®, as well as a specialized local update for the Merced County Economic Summit.

The Summit, which was held February 23rd at the Merced County Fair Grounds – Pavilion Bldg, hosted 250 guests and featured 8 presenters.  Loren was invited to speak as the residential real estate specialist.  Robert Olzack, the Broker of CB Gonella Realty’s Commercial Office, was also invited to present at the Summit, as an expert on commercial office space.

Check back with us this month as we cover some of the topics included in Loren’s presentations more in depth.  After all, information is empowering!

If you are interested in having Loren Gonella speak at one of your events, or to your organization, please feel free to contact him:

                          Email:           info@gonellarealty.com

                          Office:           (209) 383-2171