Posted tagged ‘Real Estate’

The Power(Point) of Real Estate

March 28, 2016

Title Slide

Last week, CBGR’s Broker, Loren Gonella, presented his Annual Real Estate Update to both the Merced County Association of REALTORS®, and the Greater Chamber of Merced, as well as presenting at our monthly sales meeting.

Needless to say, it was a crazy week!

In case you missed them, here are some highlights of these presentations:

  • Local residential prices increased, however, at a slower rate. (click here for chart)
  • Residential for-sale inventory remains very tight, not just at the local level, but at the state & national levels as well.
  • Locally, new residential construction is gaining momentum with 85 permits pulled for new homes in the city of Merced, and 112 in the city of Atwater in 2015. (In 2014 Merced had 53, and Atwater had 44!)
  • Rental Market: Inventory is tight, and rents are increasing.
  • Shopping / Retail Centers: are about the same as 2014
  • Office Space: has an oversupply, and rents are negotiable
  • Industrial Space: Inventory is improving and there is an upward pressure on rents.
  • Agriculture: Commodities are experiencing downward pressure, and this is causing downward pressure on prices.

(and these are just the highlights!)

If you are interested in finding out about Loren coming to speak to your group please do not hesitate to contact him:

Loren Gonella          lgonella@gonellarealty.com

                                                    209-383-2171

If you are interested in understanding how all this great information relates to you as a buyer or seller, any of our qualified agents will be happy to assist!

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

 

1st Quarter of Real Estate in 2015- the Highlights

April 30, 2015

Prices continued to rise to $195,000 in March of 2015, from $149,000 in March of 2014.  This is an increase of 31% over 12 months.

1 year MSP

During the 4th Quarter of 2014, the inventory steadily rose to 5.5 months in December.  Starting in January of 2015, and continuing throughout the 1st Quarter, inventory dropped like a rock and at the end of March was down to 2.3 months.

1 year Inv

Summary:  Prices continuing to move up, and inventory at near record lows! For sellers this is indicative of a strong markets- so if you are considering selling, now is the time!

We believe that the market will continue to remain strong throughout the remainder of the Spring / Summer selling season.

For buyers- interest rates continue to remain at near historic lows, even though the inventory is tight.  Our agents can utilize the Multiple Listing Service’s auto-prospecting program to notify you immediately when a property that matches your purchasing criteria is placed on the market.

We have 2 Residential Sales Offices, located conveniently in Merced and Atwater.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

To be pre-qualified for a loan, contact Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                         209-261-4320

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.

Email: KJameson@gonellarentals.com;

TWinek@gonellarentals.com

Phone:                                         209-383-6277

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

So What Will Happen to Real Estate in 2015?

March 26, 2015

If you take a look at the change in Median Sold Price from February 2013 to February 2015 we see a 34% increase from $127,000 to $170,000 in 2 years.

 2 yr (2)

However, if you look at the change in Median Sold Price from February 2014 to February 2015, we see a 6% decrease from $180,000 to $170,000 in the last year.

1 yr (2)

Going forward, we believe that prices will continue to appreciate, however at a much more modest rate of +/- 7%-10% per year.

A 34% appreciation rate is not sustainable; we believe that the market is moving back towards the slower appreciation rates we experienced in the 80’s & 90’s.

So What Does That Mean???

For Buyers: It means that homes purchased will continue to appreciate (however, at the slower rate) and are still a good investment!

For Sellers:  It means that homes are selling, although sellers need to be sure their homes are priced correctly before being placed on the market.

With interest rates still at historic lows and more homes to choose from, now is an excellent time to buy your new home.

To be pre-qualified for a loan, contact Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                         209-261-4320

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.

Email: KJameson@gonellarentals.com;

TWinek@gonellarentals.com

Phone:                                         209-383-6277

If you are interested in selling, you may be surprised at the market value of your property.  If you would like a current market analysis of your property, please contact one of our highly trained agents.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Commercial Office:                  209-725-7253

Is Now A Good Time to Buy?

December 15, 2014

Home values continue to appreciate; however, at a slower rate.

MSP - 2 yr

Inventory remains somewhat tight.

Inventory- 1 year

Demand is very steady.

 Supply & Demand 2 yr

It is important to note that expired properties are still increasing at a dramatic rate.  We believe this is due to sellers not pricing their homes correctly.

Expired 2 yr

With interest rates still at historic lows and more homes to choose from, now is an excellent time to buy your new home.

To be pre-qualified for a loan, contact Dorathe Catlin of Coldwell Banker Mortgage.

Email: Dorathe.Catlin@mortgagefamily.com

Phone:                                                              209-261-4320

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Hoffman, or Assistant Property Manager Tina Winek.

Email: KHoffman@gonellarentals.com;

TWinek@gonellarentals.com

Phone:                                                           209-383-6277

If you are interested in selling, you may be surprised at the market value of your property.  If you would like a current market analysis of your property, please contact one of our highly trained agents.

Merced Sales Office:                                  209-383-2171

Atwater Sales Office:                                 209-358-6429 

Commercial Office:                                    209-725-7253

What’s Going On with Merced Real Estate?

January 16, 2014

Over the last 24 months the Median Sold Price has increased over 48%! We believe that property values will continue to increase in 2014, but at somewhat reduced rate. We are projecting an additional 12-15%.

Slide 6

Inventory has increased slightly to 2.3 Months.  We feel that, as prices increase, the inventory may grow slightly.  This will be advantageous to buyers as it offers them more selection.

slide 7

The Median For Sale Price is up 46% over the last 2 years.  Sellers need to take note as fewer properties are under water, and with tight inventory, now is an excellent time to take full advantage of the Spring sales season.

slide 10

2014 is shaping up to be a good year for the real estate market.  Prices should continue to increase, inventory will continue to remain tight, and interest rates are still very low.

 Call us today to find out the value of your property in today’s appreciating housing market.  If you are interested in buying, we can also help you find the home of your dreams!

Merced Sales Office:                                  209-383-2171

Atwater Sales Office:                                 209-358-6429

So what’s going on in the Merced Real Estate Market?

June 14, 2013

DOM
The average days on market (DOM) in the past 2 years has gone down from 61 days to 34 days. Homes are selling more quickly because…

Inv

…the supply of homes is down while the demand remains steady. As you can see in the graph above, inventory is down 71%!

During the same time frame, the median sold price has increased 33% from $110,000 to $146,000. The median for sale price has increase the same percentage from $119,900 to $159,000 (full details below).

MSP v MFSP
So what is going on in the market is:

  1. Prices are increasing at a fairly steep rate
  2. Inventory continues to remain at historic lows
  3. Homes are selling faster

It appears that these trends will continue, and if you are thinking of selling, now is the time to have one of our real estate professionals evaluate your property.

You may be pleasantly surprised!

Merced Sales Office: 209-383-2171

Atwater Sales Office: 209-358-6429

The Numbers Are In for Merced County!

April 16, 2013

Image

The Median For Sale Price has increased $45,000, or 38%, from March of ‘11 to March of ’13 to $164,900.

The Median Sold Price is also up, increasing $27,000, or 23%, to $142,000 in the same time period.

Image

Inventory has dropped drastically in the last 2 years. In March of ’11 the inventory in Merced County was 3.6 months.  By March of ’13, it was down to 0.9 of 1 month.  This is a drop of 76%!

With the extreme lack of inventory, and prices continuing to increase, now is an excellent time to speak with an agent about finding out what your home is worth in today’s market- you may be pleasantly surprised.

Merced Sales Office:                                  209-383-2171

Atwater Sales Office:                                 209-358-6429