Posted tagged ‘Merced’

MERCED RENTAL INVENTORY IS LOW

November 2, 2015

for-rent-sign

Are you seeing less of these signs?

In the ’80s & ’90s the available inventory of rentals was very low.  Starting in 2000 and up until 6 months ago the rental inventory in the Merced area has been normal to very high.  As a result rents have remained relatively stable and landlords have not been able to increase rents.

However, in the last 6 months rental inventory has decreased drastically.  Some possible reasons for this are:  the increase in the UC Merced student population; potential buyers may be priced out of the market due to increasing sales prices and turning to rentals; or some potential buyers may be opting to rent in order to stay mobile.

So… it means:

If you are considering selling your rental property, please contact one of our agents- you may be pleasantly surprised at the value of residential income properties in today’s market.

Conversely, if you are considering investing now is a great time to contact one of our sales professionals:

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Commercial Office:                  209-725-7253

If you are interested in renting, contact our Property Management:

Email: KJameson@gonellarentals.com

TWinek@gonellarentals.com

Phone:                                         209-383-6277

What Does it All Mean???

October 28, 2014

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

Inventory Remains Very Tight – Home Values are Increasing

August 15, 2012

Not only have home values bottomed out, they are increasing. When we compare the median sold price of $109,450 in July 2011 to $132,000 in July 2012 we see an increase of $22,500 – or 21%!

The inventory continues to remain very tight. The inventory for Merced currently stands at 1.3 months, which greatly benefits sellers.  Sellers are continuing to receive multiple offers, and in some cases, offers above list price.

For more information, or if you would like to speak with a sales person about selling your home, please feel free to contact us today at one of the following numbers.

Merced Sales Office:                                                  209-383-2171
Atwater Sales Office:                                                 209-358-6429

We also offer professional property management services:

Gonella Property Management:                          209-383-6277

Merced ranked in the top 10!

June 14, 2012

According to the special report by Inman News – “10 Prime Real Estate Markets for First-Time Buyers,” Merced, CA is considered 4th in the nation! As stated in the article, “The markets in this report were chosen based on the percentage of all home sales in the area made to first-time buyers with FHA-insured loans in 2011.” 4 of the 10 markets listed are in the Central San Joaquin Valley.
The complete list of markets is as follows:

    1. Wilmington, Del.-Md.-N.J.
    2. Charleston, W.Va.
    3. Visalia-Porterville, Calif.
    4. Merced, Calif.
    5. Fresno, Calif.
    6. Hagerstown-Martinsburg, Md.-W.Va.
    7. Modesto, Calif.
    8. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
    9. Atlanta-Sandy Springs-Marietta, Ga.
    10. Camden, N.J.

So, what makes Merced such a friendly environment for first time home buyers?  The largest of several contributing factors is the drastic drop of 71.5% in median sales price from the peak in 2006.

Our very own Dorothy Kielty, from Coldwell Banker Gonella Realty Merced Office was quoted with the following explanation:

“With the drop in prices to 1989 levels, many first-time homebuyers who were left behind when prices were climbing and thought they would never be able to buy a home are taking advantage of these low prices to get themselves situated.”

Stay tuned as we look at the other contributing factors in the next coming weeks!

To get started buying your first home, click here!

zipForm® Training at Coldwell Banker Gonella Realty

January 19, 2012

Dorothy Kielty, certified zipForm® trainer, is shown teaching her first class in a series of 3 on zipForms® to Gonella Realty agents. This first class was a beginners’ class to introduce the system. Next month she will follow up with an intermediate session, and finish with advanced training in March.

Gonella Realty wishes to extend our sincere appreciation for Dorothy’s outstanding training, and willingness to help our other agents continue to be the best possible resource for our clients.

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.

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!

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!