Posted tagged ‘Loren Gonella’

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

Happy Holidays from Our Family to Yours!

December 22, 2011

Santa paid a wonderful visit to Coldwell Banker Gonella Realty this past Monday, December 19th. During his visit, he sat with the agents and staff, as well as their children and grandchildren.

Tina Winek from Gonella Property Management, along with her husband and children.

Pam Spiva, from Merced, with 2 of her grandchildren

Kay Kane, a Broker Associate with the Merced Office.

Many of the children also enjoyed the bounce house that was located in the Coldwell Banker Gonella Realty parking lot.  When they were finished bouncing, they were treated to hot chocolate and cookies. A really good time was had by children of all ages.

Santa is thrilled that Coldwell Banker Gonella Realty is a Toys for Tots™ Drop Off location.  This year, our company collected more toys than ever to help under privileged children and to bring them joy during this season.

Santa was also pleased to see that Mary Camper of the Merced office organized several of the staff and agents to ring the bell at a Salvation Army collection site this past Tuesday, December 20th.

Paul Treso with the Merced Office

Beverly Ward, Administrative Assistant

Everyone at Coldwell Banker Gonella Realty wishes you and your family the very best for this holiday season, as well as a healthy and very happy New Year.

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.

Gonella Realty Hosts its 37th Annual Awards Breakfast

March 25, 2011

 

Coldwell Banker Gonella Realty celebrates its staff!  We held our 37th Annual Awards Breakfast this past Thursday. We recognized our staff, agents, and managers for their hard work, dedication, and professionalism in 2010. Despite a challenging economy, our staff, agents, and managers rose to the occasion and have performed exceptionally. Doris Gonella, Founder, and Loren Gonella, Broker/ Owner, want to extend their heartfelt thanks and appreciation to all of our coworkers at Gonella Realty for making 2010 a great year.

We think that 2011 is going to be even better.  Thank you for being part of the family that treats business like family.

3/28/11 UPDATE: More Photos of this event can be seen on our Facebook Page!

Supply and Demand

December 15, 2010

The law of supply and demand is alive and well in the Merced/ Atwater Real Estate market.  In October, 2010, the inventory of available homes for sale stood at 2.3 months (meaning that if no new homes came on the market, the existing inventory would be sold out within 2.3 months if sales continued at their current pace). The inventory 2 years ago in 2008 was a 5.9 months which is a decrease of 61%.

The lack of available inventory is continuing to increase prices.  The median sales price increased from $105,000 in October 2009 to $113,000 in October 2010.  This is an increase of 8% over one year.  Interestingly, the median list price was $122,950 in October of 2009 and $125,000 in October 2010.  This is just a slight increase of approximately 1%.  What does this mean for buyers and sellers?  This represents an incredible buying opportunity for buyers because, although present inventory remains limited, prices are down 60% from the peak in 2005 and interest rates remain at historic lows, thereby increasing affordability for our local community.  In fact, over 90% of our local buyers can now afford to buy the median priced home, whereas in 2005 only about 11% of our local buyers were able to afford to buy the median priced home.

In October 2010, 205 properties were listed in the multiple listing service.  During the same period of time, 195 properties were placed in escrow.  New inventory is selling almost as quickly as it is listed.  This real estate phenomenon has resulted in the inventory continuing to remain tight.  This is a wonderful opportunity for sellers to sell their homes quickly and profitably as, in many cases, sellers are selling their homes for even more than their asking price.

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!


Gonella Realty Updates Military Officers Association of America

July 19, 2010

On Saturday, July 17, 2010, Loren Gonella spoke before the Military Officers Association of America, Yosemite Chapter in Merced, CA.  Loren spoke about what created the massive increase in housing prices and the over-building that occurred during the real estate boom, as well as where the  real estate market is today, and the future of real estate.

3 things led up to the real estate boom:

1)      Speculative fervor due to the coming of UC Merced

2)      Many out of town builders coming into the area (due to the speculative fervor due to the coming of UC Merced) and then paying too much for land

3)      Cheap credit led to no-documentation-stated-income loans—a person would walk into a lending office and say “I earn $20,000 per month” and the income would never get verified—the lender would just take the person’s word.

These factors contributed to a speculative fervor that caused prices to increase by 25-35% per year in 2003, 2004, 2005.

The market peaked in the 3rd quarter of 2005 at a median sale price of $350,000.  Home values started to fall in 2006 and have dropped almost 70% since the peak.  Today, home values are starting to increase—home values are up from June 2009-June 2010 with an increase of 14%.

We believe that values have bottomed out and will continue to increase.  In fact, there are more buyers than sellers, which have created an inventory shortage.

So where is the real estate market going from here?

We believe that the market is starting to transition from short sales and foreclosures to more traditional sellers.  Also, new home construction is starting to make a comeback, in part due to the fact that the City of Merced is working on reducing new construction fees.

To summarize, we told the Military Officers Association of America, Yosemite Chapter that the market has appeared to bottom out, prices are increasing, and homes are selling!