Don't do it now! I know people who work at the university and know how bad things are about to get for Merced. There will be exactly ZERO new professors to hired next year, and the ones there will get a pay cut very soon. There are likely to be layoffs for a number of staff soon too. There is a real question about whether the university will expand, the state is cutting funding like crazy and the UCOP is reducing enrollment for all UCs. It is unlikely that UCM will grow much in the next 2-5 years, and may well shrink. Local government (the other major employer in town) is planning for pay cuts and layoffs this summer too. Wait till the fall and save yourself 50k! People buying investment properties now will regret it for years... Just like those who bought last summer.

I personally think it is a good time to buy in Merced City. The properties are getting multiple offers.
I am talking only about Merced City not Merced county.

Harpal Harika
Realtor

I think it is a great time to buy property in the Merced area!! Prices are at an all time low, the rental market is very strong, especially with the college there. And if you are getting financing the rates are incredible!

I have a rental in Los Banos that I bought last year....do I wish I had waited another year to get a lower price? Um, sure...but I have great tenants in there and the rents more than cover the payment. So the property has done what I wanted it to do...and it was a huge help for us during tax time.

So go...it is a great time to buy!!

Hi Gemma, I personally believe Merced still has plenty of room to fall. See my post concerning this area below.

Best, Steve
http://www.Steven-Anthony.com

YES! Prices for foreclosures and short sale homes for sale are dirt cheap!