Posted tagged ‘investors’

Merced makes the Top 10!

June 23, 2011

Source: Zillow

Inman News,  a leading source of real estate news for industry professionals and consumers,  recently reported that Zillow, a real estate marketplace that compiles information on homes for sale, homes for rent, and homes not currently on the market,  has identified the top 10 hottest markets for real estate investors in the country.

7 of the 10 markets are in California.  The #1 market is Merced.  According to Loren Gonella, Broker of Coldwell Banker Gonella Realty, “UC Merced Students are having a profound effect on the rental market.  Beginning last year and significantly increasing this year, students have been renting housing in N. Merced. At the present moment, the inventory of available housing in N. Merced has decreased dramatically.”

Students indicate that renting off campus is significantly less expensive than on-campus housing.  The increased demand for rentals has resulting in rental amounts increasing in the N. Merced Area.

To read the full article on Inman News click here.

Students Soak Up Summer Vacancies

August 16, 2010

According to UC Merced, there are approximately 1,450 more students starting this fall semester as compared to last fall semester. UC Merced also indicated that the dorms are filled and there are over 400 additional students on the waiting list. More than likely these students will have to find housing in the community. The overall effect will be absorption of units, thus decreasing the vacancies in the area. As the vacancy factor decreases, rental rates will continue to stabilize and will increase. Investors should definitely take note and continue to invest in both single family and multi-family residences.