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79912 : Real Estate Advice

  • All25
  • Local Info1
  • Home Buying15
  • Home Selling0
  • Market Conditions1

Activity 19
Mon Apr 18, 2016
Bill Gassett answered:
A reverse mortgage can be a blessing or a curse! It is important for seniors to understand exactly how this loan product works. Essentially a reverse mortgage is for those who are over 62 years of age and have significant equity in their home. A reverse mortgage allows you to tap the equity in your home in the form of payments that come to you. Instead of having a monthly payment like a traditional mortgage, the lender actually pays you and you remain living in the home. Each month your equity potentially decreases. It is important to understand the pros and cons of this type of loan. Take a look at the detailed web reference below explaining exactly how a reverse mortgage works. ... more
0 votes 3 answers Share Flag
Mon Dec 21, 2015
Cynthia asked:
Tue Aug 5, 2014
Irene Dominguez answered:
79912:

There are currently 693 resale and new homes in ZIP code 79912 on Trulia, including 3 open houses, as well as 35 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 79912 was $275,155 for the week ending Jul 23, which represents a decrease of 1.4%, or $4,028, compared to the prior week. Popular ZIP codes in El Paso include 79912 and 79936, with average listing prices of $275,155 and $164,590.

79911:

There are currently 162 resale and new homes in ZIP code 79911 on Trulia, including 1 open house. The average listing price for homes for sale in 79911 was $238,409 for the week ending Jul 23, which represents an increase of 3.4%, or $7,739, compared to the prior week. Popular ZIP codes in El Paso include 79912 and 79936, with average listing prices of $275,155 and $164,590.
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Wed Jun 11, 2014
Mark Weiss answered:
IT depends on how long you have occupied the property since the Refi. Typically your Refi loan requires you live in the house for 2 years. However there are exceptions to every rule , for example if you are relocating for a job, military transfers etc. You can contact FHA directly at Email: answers@hud.gov
Good luck!
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0 votes 5 answers Share Flag
Sun Mar 3, 2013
Maria De La Vega answered:
You can go to El Paso Central Appraisal website http://epcad.org/ and it will let you know the information you need.
0 votes 1 answer Share Flag
Fri Mar 2, 2012
Don Groff answered:
Hi Melly,

If your loan is a conventional loan you will just pay the interest as accrued until the bank receives payment in full. If your loan is FHA and you pay off the loan in the middle of the month you would still pay the full months interest.

Hope that makes sense.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
listings@dongroff.com
... more
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Wed Dec 28, 2011
Anna M Brocco answered:
Contact local realty office for available rentals, or work with an agent; check local print media for by owner rentals, always verify ownership before exchanging any money; word of mouth, etc. ... more
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Mon Oct 10, 2011
Dallas Texas answered:
Since 2008 the leasing market has had huge increases ! Seen almost 30% or more in Dallas area

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 3 answers Share Flag
Mon Oct 10, 2011
Annette Lawrence answered:
Nat, you sound as though you are in a healthy real estate market. You are qualified to buy but you find homes are selling for more than you are willing to pay. So, nothing has changed. Sellers for decades say they sell to low and buyers, for decades say the pay too much. Sounds like nothing has changed.

What you failed to notice, and others have pointed out, is El Paso Tx, did not experience the bottom falling out of the real estate market like experienced in FL. Folks here can not get there roofs replaced because the $8,000 home equity loan they depended on in the past is no longer available because of fallen property values. This homeowner is at risk because the home insurer requires a roof with at least five years of life remaining. When the home insurance is cancelled, (and that IS happening) the mortgage company WILL foreclose. This is just one little story that commonly occurs in those parts of the country that have experienced a real estate melt down. Texas is not one of those areas. You should be more appreciative of your good fortune.

it benefits no one to randomly blame others. If you are actually wanting to buy or sell real estate there are solutions. Action, however, is more appropriate than crying a river.
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Mon Oct 10, 2011
Jose E Garza answered:
Sam,
My advice to you would be: Hire a REALTOR® and get professional advice. There are no limits on what you can offer for a for sale property regardless of condition and time on the market; however, a very low or unreasonable offer may upset the seller and this be a reason not only for a counter offer but even worse, a rejection. ... more
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Mon Oct 10, 2011
Bruce Lynn answered:
They also know how much you make.
If you think they're getting a better deal, you might call your Army Recruiter.
0 votes 1 answer Share Flag
Thu Apr 14, 2011
Dorene Slavitz answered:
Dear Michael,
Hundreds of Real Estate transacitons are conducted daily without any need for a Lawyer.
0 votes 6 answers Share Flag
Wed Dec 29, 2010
Rick Snow answered:
Richard, overall prices are staying pretty flat or declining slightly. People from Juarez are coming into the area but they are not driving up the prices, in my opinion.
0 votes 1 answer Share Flag
Thu Sep 9, 2010
Federico Villalobos answered:
Sr. Fierro;
Si hay varias formas que se puede lograr un financiamiento o credito hipotecario.
y tambien soluciones, la que Yo propongo, compren menos casa, o financiamiento privado que ya
les dijeron que no, pero casi tienen todo para calificar.

Sr. Fierro me va tener que aceptar una invitacion a comer, para discutir mas a fondo su problema,
si no puedo ayudarlo, tengo amigos que nos pueden suguerir mas opciones.

Federico Villalobos
Home Pros
(915)920-6115
... more
0 votes 6 answers Share Flag
Mon Apr 13, 2009
Patsy Maese Olivas answered:
This house at 6313 Stardust is a tri-level home. The main floor has the living area plus the 5th bedroom (or maid's room) plus a 3/4 bath. The upstairs has the master bedroom, bath and one other bedroom. The bottom floor has two bedrooms plus a bathroom. This information is from the listing agent.
There is another home at 312 Skyway that is very similar but has an extra living area on the bottom floor.
Let me know if you would like to see either of these properties.
Patsy M. Olivas
One Realty El Paso
915-867-3102
... more
0 votes 1 answer Share Flag
Sat Nov 29, 2008
Judy Luna answered:
What you need is a market analysis for the home you are interested in purchasing. What this involves is to have your buyer agent check the Multiple Listing Service database to see what similar homes nearby have sold for in the past 6 months. This is the same information that your lender's appraiser will use to determine the value of the home.

If you do not have a buyer agent, I recommend that you get one. In most states there is no extra cost to the buyer (the seller is paying a commission that will be shared with a buyer agent who actually sells the home) to have a buyer agent to represent one's interests.

A good buyer agent will also help in the sense that he/she will be knowledgeable about the market where you are. With so many foreclosures out there, there is a downward pressure on prices of "normal" homes as well. Each market is different, since real estate is essentially local.

If you need recommendations for acquiring a buyer agent, contact me at the website listed below. I have contacts throughout the country through organizations that I belong to.

Another alternative is to find a realtor with both the CRS and ABR designations. ABR stands for Accredited Buyer Representative and CRS stands for Certified Residential Specialist. An agent with these designations has taken the time to get additional training to better help his/her clients. For CRS, go to http://www.CRS.com and for ABR, go to http://www.REBAC.net.
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Sat May 3, 2008
Jason Brown answered:
Thanks Mark, but I am not in financial difficulty...just not rich. I do not want to tie up otherwise liquid cash in a big down payment with current market conditions.
1 vote 7 answers Share Flag
Mon Nov 19, 2007
Rick Snow answered:
Michael, that depends on many factors. The market in El Paso continues to be better than other parts of the country, but it has slowed from last years boom. We continue to sell homes everyday in all parts of town. average time on market has slowed from 60 days last Oct to 91 days this Oct. Market time is affected by the price range of the home as well. My personal opinion is that even though it is slower we are still in good shape. If your home is priced correctly it will sell. It may take a little longer but homesare still holding their value. Price reductions are due to unrealistic expectations to begin with. Pricing is key. Rick Snow, Broker, One Realty El Paso rick@ricksnow.com ... more
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