What will 2010 bring to El Paso

I guess all Realtors in El Paso, TX are wondering that. I know that is a pretty loaded question.

The real estate market in El Paso,Texas is not as bad as people think.

I had an offer presented on one of my listings last night and it was about $30,000 short. Needless to say the seller was not happy with the offer so they countered back. The other agent told me that the buyer said "its a buyers market" so they should be happy with the offer. They offered low becasue they wanted the sellers to replace carpet with hardwood floors! While it is a buyers market in El Paso that does not mean that all sellers are giving away their homes.

A buyers market in El Paso usually means that there are alot to choose from but if the homes are priced correctly they usually sell very close to list price and in alot of cases sellers are helping with closing costs.

I don't know if this one will work or not but some buyers have to make a few offers before they realize that El Paso is not like the rest of the country as far as real estate is concerned.

I guess the best analogy is that real estate is sort of like the weather and is very regional. If it is zero in New York and snowing that does not mean that it will be the same in El Paso and in fact it would probably be sunny and around 60!

Hope all the real estate in El Paso, Texas will be great next year.

almost the end of the year

Well, 2009 is almost over and I am thankful for that and I am looking forward to 2010being much better for El Paso real estate. I guess I really don't have too many complaints other than I want to see lenders lending more and not making it so hard for buyers to qualify.

I do understand that there needs to be some balance, but now alot of buyers are having a hard time and in order for the economy to get back on its feet buyers need to be able to buy homes.

We had a quiet Christmas, I was not feeling very well so Dan went to the shelter and served lunch and then we had some neighbors over for Christmas dinner.

Talked to all of our children (that is the best part) and they were all doing well and the grand kids were happy as can be that Santa had made it to thier homes.

Let me hear from you all about your thoughts on the new year and what your plans are.

Light snow in El Paso today

Maybe Santa is on his way becasue there is a light snow today in El Paso!!! The temp is only 36 and for a desert rat that is pretty cold.

We looked up weather in Reno (one of our Daughters -Samantha lives there) and it was 18 with a high of 35 so our temp does not sound that bad.

Even though it is cold real estate in El Paso, Tx goes on as I was showing homes this morning.

This Christmas we are going to serve lunch at the shelter here in El Paso and then go home and have the neighbors over for a dinner later that afternoon.

I wish everyone a very Merry Christmas and all the best in 2010- I know it will get better and we will have have a great year next year.

What is new in El Paso

As the year draws to an end, I am grateful that our market has not been as terrible as other areas of the country. Our unemployment rate is at about 9.5% and that is just a little bit higher than the state of Texas.

Home sales are not bad, considering what is happening across the country. November stats were even better than Octobers' with sales being almost 150 more in November than the same time in 2008!! How about that, way to go El Paso.

I think that 2010 will be a good year for Real Estate in El Paso, TX because I feel that interest rates will remain low and after talking to one of the lenders that I like to use, even investor loans are decent. You can get a great rate with only 20% down and with rates low your cash flow possibilities are even better.

For home purchases the extended tax credit is great and even better it now included repeat buyers. Please be sure to read up on the qualifications so you have the correct information.

If you are thinking of buying a home soon, don't wait for rates to go back up. DO it NOW!!!!



Call me today for more information.

Patti Olivas

Great Housing Stats for El Paso

I am Vice President of our Multiple Listing Service for our Association of Realtors and we had our last meeting this morning and our stats for November were great!!!

In November of 2008 there were a total of 375 homes sold (not great but better than some other areas) and in November of 2009 there were 546 homes sold. Now that is impressive.

Texas has been pretty lucky in the real estate market and El Paso,TX real estate market has fared even better.

We do not have an abundance of foreclosures, our prices have gone down some but not like other areas of the country, and days on market are starting to drop.

What a great Christmas present that is for our economy.

Now is a great time to buy a home in El Paso, TX.

Email me for more information.

Merry Christmas to all

Great Restaurant

I had a great meal at Queretaro's Restaurant on North Mesa yesterday. It was cold outside but warm and delicious inside.

I had a bowl of posole that was to die for. Great pork (you can cut it with a fork) and it served with lettuce and radishes cut up in a bowl and you dump it in the soup bowl and then you are ready to dive in. All this for $6.50 plus a basket of home made tortillas , Yum Yum,Yum.

Parking is at a premium because it is always packed but I highly suggest you go there. The Caldo de Res is great too and in fact I have never had a bad meal there.

When relaxing from the El Paso Real Estate Market this is where I want to be.

Low Low interest rates

By now I am sure everyone knows that the interest rates dropped below 5% and in the El Paso Real Estate Market,investors, as of Friday Dec 5th, were able to get 5 3/8 with 20% down and good credit. That will help with cash flow for sure.

I think with the tax credits that are available and the low interest rates, now is the time to get off the fence and take action. Rates will start to rise again and home sales are already picking up in El Paso according to the stats from our Board of Realtors.

Call me today or email me and let me tell you about the El Paso market.

915-584-5430