Honestly, there are several answers to this question. When chatting up friends and clients about the local real estate market here in Merced, I respond to that question with some focusing questions of my own, because my answer will depend on whether you are a buyer, seller, investor, or armchair expert.
For the buyer in Merced, the market is different today than it was 4-6 weeks ago. Interest rates are up, on average, more than 1%! Which, as a rule of thumb, decreases purchasing power by 10% (to maintain the same monthly payment). While this has created a ton of confusion in our marketplace, this lack of clarity is actually creating an opportunity for buyer’s with a savvy negotiator (like myself).
For the seller in Merced, things have definitely changed. However, despite the uptick in days on the market, price drops, and a significant increase in active listings, there is still not enough supply to meet demand. What there is, is a place for you to move to if you want to make a change without moving to a new city. And, if you price your home appropriately and follow some simple suggestions from your agent to ensure your home shows properly, there is truly no need to panic. What we are seeing is a trend back toward a stabilized market. So yeah, get with someone like myself to come up with an action plan on what you need to do to not contend with rapidly changing market dynamics. If this is you, get with me so you can see how I’ve marketed my client’s homes over the last 12 months despite the market moving so fast. I’m the same rain or shine! There are a few other Realtors I think highly of that can give you a similar or better experience than I can—I’d be happy to connect you with them if I’m not quite your vibe on your listing in Merced or Merced County.
As for the investor, I don’t give this info out willy nilly. Having started and presided over Bear Creek Properties here locally, I have an exceptional amount of useful information for investing in and around our market. I’d be happy to discuss areas out of state as well, that my family is considering purchasing real estate in. If you’re an investor and want to chat, or want to be an investor and don’t know where to start, I can give you a rundown and provide you with some resources to get you started on this journey!
And finally, the “armchair expert”. Ha ha. You know who you are. What’s there left for me to tell you? You know more than me anyway. Please, grace us with your supreme perspective and opinion in the comments 😂.
Sincerely,
Andrew Alkema
DRE # 02135815
Email: andrew@merced.realestate
Website: merced.realestate
Cell: 209-201-5280
Keller Williams Property Team
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