I just got our market report for March 09 for our Multiple Listing Service for homes in El Paso, TX and we were up over Feb 09. In Feb 332 homes were sold and in March 435! And that is for a down economy.
The average sales price for March of 08 was $154,446 and March of 09 was $153,181. Not bad for a tough real estate year. Average days on market is about 114 days and homes are selling at about 96% of list price.
Seller are making more concessions for sure but we are not seeing drastic reductions in price.
Now is the time to buy real estate in El Paso, TX so now is also the time to call a Realtor in El Paso, TX. Please feel free to call me at Dan Olivas and Associates at 915-584-5430 and ask for Patti Olivas and I can help you buy or sell a home in El Paso.
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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 16, 2009
Monday, April 13, 2009
Ft Bliss Housing Seminar
I attended the Ft Bliss Housing Seminar last week and while it was scary to see how many units we are short in housing the soldiers right now, it is optimistic to think that we will get all the units built before the soldiers arrive in mass.
The city of El Paso is offering incentives to builders and developers to help defray the cost in permits and the bigger the number of units built, then the bigger the incentive.
There were numbers speakers there from our Congressman Sylvestre Reyes to some people from Fannie Mae and Freddie Mac speaking about what is available in help to get these units built.
During the lunch networking session you could talk to the out of towners about the El Paso real estate market and let them know that being a Realtor in El Paso, TXis an exciting thing right now.
Ft Bliss is just another plus for El Paso's real estate market. Everyday you read in the paper that new doctors are being hired by TX Tech Med School and the University Medical Center of El Paso.
Foxconn is up and running in the Santa Teresa/Juarez area and is expected to hire about 30,000 workers in Juarez at the plant and will have approx. 2500 upper management living in the El Paso/ Santa Teresa area.
Rates are great and sellers are still helping with closing costs so don't wait for things to start going up, now is the time to buy
The city of El Paso is offering incentives to builders and developers to help defray the cost in permits and the bigger the number of units built, then the bigger the incentive.
There were numbers speakers there from our Congressman Sylvestre Reyes to some people from Fannie Mae and Freddie Mac speaking about what is available in help to get these units built.
During the lunch networking session you could talk to the out of towners about the El Paso real estate market and let them know that being a Realtor in El Paso, TXis an exciting thing right now.
Ft Bliss is just another plus for El Paso's real estate market. Everyday you read in the paper that new doctors are being hired by TX Tech Med School and the University Medical Center of El Paso.
Foxconn is up and running in the Santa Teresa/Juarez area and is expected to hire about 30,000 workers in Juarez at the plant and will have approx. 2500 upper management living in the El Paso/ Santa Teresa area.
Rates are great and sellers are still helping with closing costs so don't wait for things to start going up, now is the time to buy
Thursday, April 2, 2009
No April Fool's Joke Here
Well all is well in the El Paso, TX real estate market.
El Paso is humming along and luckily we are not with the rest of the country in how sales are going.
Our average price is holding steady-much as it was last year- and we are not going down in prices.
What we are seeing in the real estate market in El Pasois that homes are taking a little longer to sell and sellers are helping more with closing costs.
Now is the time to buy a home because we feel that prices will start going back up in El Paso because the military is bringing about 90,000 troops and family members here by 2013 and we know that we are short on homes for those soldiers and their families.
It is a great time to invest in El Paso, whether you are a big investor (like apts-the city is giving incentives to those that start building now) or if you want to buy a rental home it should not last long on the market.
We are seeing the rental market increase too. I know that everyone is reading about the violence in Juarez, Mexico but it IS NOT SPILLING OVER INTO EL PASO!
I have lived here for over 30 years and we are still one of the safest cities in the nation for cities over 500,000 even with what is going on over there. What is happening is that we are seeing alot more Mexican National buying and renting homes in El Paso.
Why wait for prices and interest rates to go up-you know they will so give me a call and let's get going.
El Paso is humming along and luckily we are not with the rest of the country in how sales are going.
Our average price is holding steady-much as it was last year- and we are not going down in prices.
What we are seeing in the real estate market in El Pasois that homes are taking a little longer to sell and sellers are helping more with closing costs.
Now is the time to buy a home because we feel that prices will start going back up in El Paso because the military is bringing about 90,000 troops and family members here by 2013 and we know that we are short on homes for those soldiers and their families.
It is a great time to invest in El Paso, whether you are a big investor (like apts-the city is giving incentives to those that start building now) or if you want to buy a rental home it should not last long on the market.
We are seeing the rental market increase too. I know that everyone is reading about the violence in Juarez, Mexico but it IS NOT SPILLING OVER INTO EL PASO!
I have lived here for over 30 years and we are still one of the safest cities in the nation for cities over 500,000 even with what is going on over there. What is happening is that we are seeing alot more Mexican National buying and renting homes in El Paso.
Why wait for prices and interest rates to go up-you know they will so give me a call and let's get going.
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