Posted tagged ‘Sellers’

Right Place. Right Time. RIGHT PRICE.

April 22, 2016

As we move into the spring buying season, inventory has hit the lowest level in 12 months.

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In the last 24 months the median list price has increased by 50% while the median sales price rose only 24%.

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This points out that there is a wide gap between what sellers are asking for, and what buyers are paying.

This is also reflected in the large number of homes that require a price reduction before they sell, as well as in the length of time properties are remaining on the market.

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Days on market showed an increase of 40% from 38 days in 2014 to 53 days in 2016.

Best advice we can give sellers:

Make sure your home is priced correctly from the beginning.

 

If you would like information on the current value of your property we have 2 Residential Sales Offices, located conveniently in Merced and Atwater.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

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

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

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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.

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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.

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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