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

What Does it All Mean???

Posted October 28, 2014 by lgonella
Categories: Merced County Real Estate

Tags: , , ,

The trend line for average Days on Market continues to increase, from 28 days in Sept. 2013 to 53 currently.

1 yr DOM

The rate of appreciation for Median Sold Price is up slightly over a 2 year period, but the rate has slowed.

2 yr SP

The supply of homes for sale has increased slightly from 2.7 months of inventory to 3.3.

1 yr INV

So what does it all mean?

We believe the real estate market is returning to a ‘more normal’ market – where marketing time is longer, there are more homes for buyers to select from, and values are appreciating, but at a slower more manageable rate.

The Federal Reserve has relaxed loan standards, allowing more buyers into the market, so this is a great time to buy.  Loan information on rates and fees can be obtained by contacting:

Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                                        209-261-4320

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

Merced Sales Office:                                  209-383-2171

Atwater Sales Office:                                 209-358-6429

The Market Continues to Change!

Posted September 18, 2014 by lgonella
Categories: Uncategorized

The average Days on Market is increasing, from 34 days in Aug. 2013 to 53 currently.

DOM

The rate of appreciation seems to be slowing with values increasing 16% from Aug. 2013 to Aug. 2014.

sP

However, the BIG NEWS is that the number of expired listings went up 163% in the same time period.

exp

When we look at the data, our advice to sellers is to price your property realistically from the beginning.  If your property is priced correctly, it will sell- and in a reasonable amount of time.

For additional information on this data, or if you are in need of a market evaluation of your property, please contact one of our highly trained agents.

Merced Sales Office:                                  209-383-2171

Atwater Sales Office:                                 209-358-6429

If you have questions regarding rentals or managing your property, please contact

Gonella Property Management               209-383-6277

Loan information on rates and fees can be obtained by contacting Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                                     209-261-4320

The Market is Changing!

Posted September 2, 2014 by lgonella
Categories: Real Estate Market Update, Uncategorized

Tags: , ,

Home values have increased approximately 29% in the past 24 months.

MSP - 24 months

However, in the past few months the market appears to be changing.  We are noticing more listings expiring.  Properties are taking longer to sell, and sellers are reducing their asking prices.

Exp

The market appears to be adjusting.  In this changing market, sellers need to be very conscious of their asking price.  The days of extra tight inventory and oversupply of buyers is changing.

For additional information on this data, or if you are in need of a market evaluation of your property, please contact one of our highly trained agents.

                        Merced Sales Office:                                  209-383-2171

                        Atwater Sales Office:                                 209-358-6429

Loan information on rates and fees can be obtained by contacting Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

 

What’s Going On with Merced Real Estate?

Posted January 16, 2014 by lgonella
Categories: Merced County Real Estate, Real Estate Market Update, Uncategorized

Tags: , , , , , ,

Over the last 24 months the Median Sold Price has increased over 48%! We believe that property values will continue to increase in 2014, but at somewhat reduced rate. We are projecting an additional 12-15%.

Slide 6

Inventory has increased slightly to 2.3 Months.  We feel that, as prices increase, the inventory may grow slightly.  This will be advantageous to buyers as it offers them more selection.

slide 7

The Median For Sale Price is up 46% over the last 2 years.  Sellers need to take note as fewer properties are under water, and with tight inventory, now is an excellent time to take full advantage of the Spring sales season.

slide 10

2014 is shaping up to be a good year for the real estate market.  Prices should continue to increase, inventory will continue to remain tight, and interest rates are still very low.

 Call us today to find out the value of your property in today’s appreciating housing market.  If you are interested in buying, we can also help you find the home of your dreams!

Merced Sales Office:                                  209-383-2171

Atwater Sales Office:                                 209-358-6429

So what’s going on in the Merced Real Estate Market?

Posted June 14, 2013 by lgonella
Categories: Merced County Real Estate, Real Estate Market Update, Uncategorized

Tags: , , , , ,

DOM
The average days on market (DOM) in the past 2 years has gone down from 61 days to 34 days. Homes are selling more quickly because…

Inv

…the supply of homes is down while the demand remains steady. As you can see in the graph above, inventory is down 71%!

During the same time frame, the median sold price has increased 33% from $110,000 to $146,000. The median for sale price has increase the same percentage from $119,900 to $159,000 (full details below).

MSP v MFSP
So what is going on in the market is:

  1. Prices are increasing at a fairly steep rate
  2. Inventory continues to remain at historic lows
  3. Homes are selling faster

It appears that these trends will continue, and if you are thinking of selling, now is the time to have one of our real estate professionals evaluate your property.

You may be pleasantly surprised!

Merced Sales Office: 209-383-2171

Atwater Sales Office: 209-358-6429