Posted tagged ‘95348’

Open House Extravaganza

June 14, 2011

Courtesy of the Merced Sun-Star (originally ran June 4th, 2011)

On June 4th and 5th we celebrated the National Association of REALTORS® Open House Weekend.  Coldwell Banker Gonella Realty held 19 open houses, and it was so exciting to welcome a total of 152 visitors to these homes.  Coldwell Banker Gonella Realty is, and always has been,  committed to providing the very best service to all of our clients – both buyers and sellers.  Our Open House Extravaganza is just one of the many ways in which we aim to serve our clients.  Please stop by to learn about the myriad of ways we may be of service to you, and please stay tuned for our next Open House Extravaganza!

If we may answer any of your questions, please do not hesitate to call upon any of our sales associates, conveniently available at these locations:

Merced Sales Office: 209-383-2171

Atwater Sales Office: 209-358-6429

Commercial Office: 209-725-7253

Property Management Office: 209-383-6277

MCAR Charitable Foundation Annual “Feed the Hungry” Auction

June 2, 2011

On May 17th, at the offices of the Merced County Association of REALTORS® (MCAR), Coldwell Banker Gonella Realty, along with Century 21 M & M and Associates, sponsored an auction through MCAR’s charitable foundation to benefit the Salvation Army and the Merced County Food Bank. The auction raised slightly more than $16,000 which will be used to help those in need in our local area.

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

UC Merced Students Impact Rental Market

May 5, 2011

According to the University of California, Merced, the student population is continuing to rise! UC Merced expects 5100 students this year.  This is an increase of approximately 700 students over last year’s census.

This large influx of students is having dramatic effects on the residential rental market. According to Gonella Property Management, there may be a severe shortage of large single family residences in North Merced beginning this summer.

If you have been thinking about purchasing a single family rental NOW is the time!  Prices are still very low and according to Gonella Property Management rents are increasing!

For more information contact Gonella Realty:

Merced Office: (209) 383-2171

Atwater Offie:  (209) 358-6429

Property Management: (209) 383-6277

August 11th, 2010

August 11, 2010

From July 2009 to July 2010, home prices have remained essentially unchanged. This is a departure from the last 6 months, which have had a steady increase when compared to the same time period during the previous year. For example, May 2010 showed an increase in price of 22% over May 2009 and June 2010 showed an increase of 14% over June 2009. The most likely conclusion is that not all recoveries are steady–there are going to be peaks and valleys.

Currently, the supply inventory of homes continues to remain very low at 2.1 months.

Even though the Median Sale Price shows no increase from July 2009 to July 2010, the Median For Sale Price, or asking price, for the same time period has increased 9% from $119,000 to $130,000. We believe the cause for this might be more traditional sellers, as opposed to short sales and bank owned properties, on the market.

Bank owned properties at the moment only represent about 25% of the total transactions in contrast to  2009 where bank owned properties accounted for almost 75% of transactions.  In 2010, private owners represent about 42% of the total transactions. It is our prediction that more and more private sellers will come into the market as it continues to rebound.

Rental Property Inventory Update

July 23, 2010

For several months now, the Central Valley has had very small number of properties for sale. Now, it appears that this trend is also beginning to affect rental properties.

According to our Property Management Department, Gonella Realty Property Management – out of 30 single family residences available for rent, there has been an application for, or a holding deposit on all but 3 properties. This indicates a tremendous surge in demand for rentals and we believe that rental prices, which have been steadily rising, will continue to increase.

So, if you’ve been thinking about buying a rental property, but are wondering if you will be able to find a tenant, the answer is more than likely to be ABSOLUTELY!


Home Buyer Tax Credit Gets Extended!

July 1, 2010

The Home Buyer Tax Credit deadline has been extended to September 30, 2010.  This ONLY applies to ratified contracts in place as of April 30, 2010 that have not yet closed.

IT’S UP! IT’S UP! IT’S UP!

June 28, 2010

Review of the last 12 months

The Median Sales Price for the Merced/Atwater area has risen 22% in the last 12 months–from $100,000 in May 2009 to $122,000 in May 2010!  The market appears to have bottomed out and since January of this year is steadily moving up. The average days on market has decreased from 60 days in May 2009 to 47 days in May 2010.

If you have been hearing people say that there is nothing on the market–they’re right.  Inventory has dropped to 2.3 months (meaning if the rate of sales continues and no new inventory is introduced, the current inventory will be completely exhausted in 2.3 months).

Many people have been asking: “Is is a great time to buy?” –  The answer is YES

Many people have also been asking: “Is is a great time to sell?” –  The answer is YES

Why is it a great time to buy?

  • The Median Sales Price is down to $122,000 from $350,000 – a reduction of 65% from the peak in the 3rd quarter of 2005.
  • Interest rates are at historic lows.
  • The Local Affordability Index is at 90% – which means that 90% of the local population can afford to buy the average priced home.  (At the peak in 2005 only 12% of the population could afford to buy the average priced home)

Why is it a great time to sell?

  • With affordability up and interest rates down, there are many, many, many buyers actively looking in the market.
  • With very low inventory, there is the perfect combination of low supply and high demand – which produces quick sales, and many times offers are above the asking price.

Encouraging the Real Estate Community

March 12, 2010

This week, Loren Gonella – Principal Broker at Coldwell Banker Gonella Realty – spoke before the San Joaquin Valley Chapter of the Women’s Council of REALTORs® He challenged the SJVWCR to be proactive in the market place. Mr. Gonella encouraged them to contact the local newspaper and share the REALTOR’s® side of what is going on in the market. He urged the group to speak to the City of Merced regarding the reduction in building permit fees, due to the fact that if the fees are reduced houses will start to, once again, be constructed and local contractors, local title companies, local suppliers, and local lenders will be able to generate business.

Mr. Gonella presented information regarding sales trends and data from 2009. According to this information, it appears that the market is beginning to bottom out: sales will remain strong in 2010, the inventory will continue stay tight, and there may even be a slight appreciation of value in the coming year. As with every downturn, things eventually turn around and go back up.

February 26, 2010

February 26, 2010

ARE WE NEARING THE BOTTOM?

(Select Graph for Larger Image)

According to Clarus MarketMetrics® the median for sale price in 2009 was essentially flat.  The sold price declined 4% from December 2008 to December 2009.  This, I believe, is excellent evidence that the market is beginning to bottom out.

In 2010, we feel that there will be a continuation of strong buyer demand for homes, because the prices continue to remain affordable, and interest rates remain at historic lows. The inventory of homes, however, will remain very tight. We may even see a slight increase in sales price in perhaps the 3rd or 4th quarter of 2010.