NOW IS THE TIME TO BUY IN EL PASO- this just shows that our market is not like most of the country:
El Paso foreclosures fall 52%
By Vic Kolenc / El Paso Times
Article Launched: 04/17/2008 12:00:00 AM MDT
El Paso continues to see a declining number of home foreclosure filings while foreclosures continue to skyrocket nationally.
El Paso had 328 homes in some stage of foreclosure in the first three months of this year, down 52.3 percent from the 688 foreclosure filings for the same period last year, show data from RealtyTrac, a California company which tracks foreclosures nationally. Filings decreased 24.5 percent in March.
Meanwhile, home foreclosures increased 58 percent in the United States in the first three months of this year compared to the same time last year. Foreclosure filings increased 57 percent in March.
Foreclosure filings are decreasing in a few areas around the nation, especially in Texas, where the housing market has been more stable than in other parts of the nation, said Daren Blomquist, a RealtyTrac spokesman.
"El Paso seems a little more dramatic than some other areas in terms of the downward trend," Blomquist said.
Texas had a 5.5 percent decline in foreclosure filings in the first three months of this year and a 16.1 percent decline in March, RealtyTrac data show.
"We see a lot of foreclosures in areas where (home) prices skyrocketed out of control, and people couldn't afford the homes, but people were able to get into homes because of the (past) loan products out there," Blomquist said.
Pam Sparks, who oversees the mortgage loan department at Pioneer Bank in El Paso, said El Paso's foreclosure decline "is not surprising. I think that's because we've always been a fixed-rate (mortgage) community, and that's kept El Paso out of trouble."
Jose Escobedo, head organizer in El Paso for the Association of Community Organizations for Reform Now, or Acorn, which counsels people with mortgage troubles, said the RealtyTrac data is "encouraging."
But Acorn continues to see an increase in the number of people coming into its El Paso office with mortgage problems and trying to avoid foreclosure, Escobedo said.
For more information: www.realtytrac.com.
Heading down:
Foreclosure filings in El Paso for the first quarter in recent years, and percentage change from previous year:
2006: 775, up 37.2 percent.
2007: 688, down 11.2 percent.
2008: 328, down 52.3 percent.
Source: RealtyTrac
Active Rain Real Estate Network
You can find great local El Paso, Texas real estate information on Localism.com Patti Olivas is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
Thursday, April 17, 2008
Wednesday, April 16, 2008
Life is Great in El Paso and NOW is the time to buy
Today is suppose to be in the mid to high 80's and with slight breezes. This is our windy season but that is the only weather related problem that we usually have and that only lasts for a few months.
Are you ready to buy in El Paso, TX. Now is the time because there is going to be so much happening that will change our market and we are going to see prices start going up again.
As I have mentioned in earlier blogs, Ft Bliss is already expanding and will expand by close to 100,000 people (soldiers and families) by 2103. The new medical school and research center for Border Health will open its first class in 2009. The high tech weaponary has already started here and soon the defense contractors will follow. The new Children's Hospital will bring in close to 300 more nurses and doctors.
That is just a short glimpse of what is going on and where will all those people live? Don't you see that now is the time to buy in El Paso?
Are you ready to buy in El Paso, TX. Now is the time because there is going to be so much happening that will change our market and we are going to see prices start going up again.
As I have mentioned in earlier blogs, Ft Bliss is already expanding and will expand by close to 100,000 people (soldiers and families) by 2103. The new medical school and research center for Border Health will open its first class in 2009. The high tech weaponary has already started here and soon the defense contractors will follow. The new Children's Hospital will bring in close to 300 more nurses and doctors.
That is just a short glimpse of what is going on and where will all those people live? Don't you see that now is the time to buy in El Paso?
Wednesday, April 2, 2008
Don't Fence me In
I'm sure most of you have read about the Border Fence that the Gov't wants to put up to keep illegal immigrants out of the county and especially along the Texas border.
Well does the Berlin Wall ring a bell for anyone and weren't we the ones that wanted the wall torn down in the first place?
Why do we want to wall in our country? I do understand that we need to handle our immigration problem but I don't think that building a wall is really what we want. How do you think that will look and more importantly do you really think it will work?
How about if we charge ( and a big amount) a fee to the people that employ illegal immigrants so that it is too costly to employ them-maybe they won't want to come over illegally and maybe they will want to become citizens and earn a living the way the rest of us do.
I would love to hear your comments.
Well does the Berlin Wall ring a bell for anyone and weren't we the ones that wanted the wall torn down in the first place?
Why do we want to wall in our country? I do understand that we need to handle our immigration problem but I don't think that building a wall is really what we want. How do you think that will look and more importantly do you really think it will work?
How about if we charge ( and a big amount) a fee to the people that employ illegal immigrants so that it is too costly to employ them-maybe they won't want to come over illegally and maybe they will want to become citizens and earn a living the way the rest of us do.
I would love to hear your comments.
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