Posted tagged ‘Gonella’

“Real” Family Appreciation

October 18, 2010

Today, too often the only social thing about our increasingly “social media” workforce is facebook chatting…

So because Gonella Realty is the family business that treats business like family, including our employees and agents, recently Gonella Realty celebrated its fantastic employee-agent-family with an Agent & Staff Appreciation BBQ.

 

Joe Stefani and crew preparing a delicious meal!

 

With tables set up outside in the beautiful California Central Valley Sun, the management team served the meal that Joe Stefani from Mason-McDuffie Mortgage prepared. There were approximately 70 of Gonella Realty’s agents and staff in attendance–showing that Gonella Realty is not just a workplace, and not just place where people specialize in selling homes and renting apartments, but Gonella Realty is a place where work feels like family.

 

Our Management Team pulled out all the stops for serving agents and staff

 

Gonella Realty wishes to recognize each staff member and each agent as being the very best in the business. Thank you for being part of the family!

 

The Gonella Realty Family

 

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!


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.

March 5, 2010

March 5, 2010

The following is a reprint courtesy of Gonella Rentals Market Update (originally posted 1-29-10):

We at Gonella Property Management have been working diligently to accommodate the needs of the Merced community. Our staff has been assisting our customer base by showing as many properties as we can and taking as many steps as possible to get housing for people when it is needed the most. We have not seen a downturn in our customer base, even with upheaval of the holiday season. Many of our clients include new property owners, families and students.

Most of our clients of the past three months have been families that have suffered the unfortunate impact of foreclosure. Thankfully our fully staffed office is in the position to assist as many individuals/ families as we can. At this time rental homes have been the main driving force for our office. We have several apartments available and we believe that market activity will be picking up in the coming months. Typically January is a slow month for rentals February sees more activity.

Properties Rented


Featured Apartment

257 Brookdale Drive – 2 bedroom/1 bath

$600.00 Rent & $600.00 Deposit

(G Street, turn onto Brookdale) 750sf new carpet throughout,  Living

room, kitchen,central heating and air, laundry hook-ups,

No Pets, Fridge included!!!

FIRST MONTH FREE WITH A 6 MONTH LEASE!!!


Select the links to view view more listings or to print a rental application!

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.

January 15, 2010

January 15, 2010

In order to know where you are going, you must take a look back to where you have been. The 2009 real estate market provided many challenges and surprises.

In Merced County the median sold price in December of 2008 was $115,000. In December of 2009 the median sold price was $110,500. This is a decrease of only 4%. An argument can be made that the market is starting to stabilize. Taking a longer look back- in December of 2007 the median sold price was $227,000. The December 2009 price of $110,500 is a decrease of 51% over a 2 year period.

The average of days that a property was on the market was 114 days in December 2008. In December 2009 the average days on the market was 31 days. This is a decrease of 73% in a 1 year period.

From December 2008 to December 2009 the number of properties for sale has decreased 56%. This is most likely attributed to State and Federal efforts to slow down the number of foreclosures. This has resulted in a decrease in the number of properties sold from 288 in December 2008 to 156 in December 2009 – a decrease of 46%. Also, the inventory (as noted in months) has decreased from 4.4 months in December 2008 to 2.9 months in December 2009 – a dramatic change from 25.6 months of inventory in December 2007.
I believe that the strongest indicator that the market has stabilized is that the median sold price has only decreased 4% in the last 12 months. Further evidence of market stabilization is that the median for sale price has gone from $124,750 in December 2008 to $124,900 in December 2009 – a slight increase of less than 1%.

In 2010, the market will continue to stabilize; interest rates may rise, but still remain affordable; and prices, we believe, have hit bottom and we feel may slightly increase.