If so,why have property taxes gone up and no pay raises?

Asked by Nat Brown, El Paso County, TX Mon Oct 10, 2011

Everyone claimed el paso would realize an economic boom with the military boom and the mexican nationals leaving mexico. Furloughs, no pay raises, property taxes, hospital taxes, school taxes, community college taxes, county taxes etc going up. What happened? Locals can't afford to rent or to buy. I don;t see it. Realtors don't care as long as the buyer pays cash or is backed up by the government. Cry me a river.

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5
Annette Law…, Agent, Palm Harbor, FL
Mon Oct 10, 2011
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.
1 vote
Rick Snow, Agent, El Paso, TX
Mon Oct 10, 2011
When you compare what's going on in the housing market (and the economy in general) in El Paso with other areas of the country we are in pretty good shape. The influx of military and military related jobs has played a large part in maintaining what we have. The economy in general sucks and being stable is way better than falling prices. To say that REALTORS® don't care is an unfair characterization of the profession. Yes, selling homes and managing properties is how we make a living but many REALTORS® and our local and state associations are very involved in protecting and fighting for personal property rights. We lobby at the local, state and national levels to fight higher taxes, transfer fees on real estate and more. We also pay taxes so we are as concerned about it as you are. Lower property values(even slightly lower), coupled with cuts in state funding for cities, counties, and schools result in higher local taxes. As for my comment about pricing of rentals I simply meant that property owners can hurt their ability to rent to military if they go too high in their prices. People are buying and selling every day in El Paso. Very few of the deals are cash deals so that indicates that there is still financing available, but qualification standards are more stringent now than in years past, but that's driven by the feds and the finance industry, not the local market. I hope you are able to find something that meets your needs. If you are working with an agent, be realistic in your expectations and truthful and honest about your qualification and let them work for you. Good luck
Web Reference:  http://elpasosnewhomes.com
1 vote
Cynthia Morr…, Agent, El Paso, TX
Mon Oct 10, 2011
I hear your frustration. The United States hears your frustration. The worlds feels it. It will not help to tell you that we fare better in El Paso far greater than most cities. Many are renting and buying and many REALTORS really care, really feel what you are going through and have all kinds of ideas and know about programs that help. Wishes for much joy and success to you today
Web Reference:  http://www.EPHomeSearch.com
1 vote
Nat Brown, Home Buyer, El Paso County, TX
Mon Oct 10, 2011
You seem to think my credit is bad and I can't afford a down payment etc. Wrong. The issue is that a simple home is worth more than it should be because of the powers in play in El Paso (military personel with tax free allowances, foreclosure breaks, mortage allowances, etc and mexican nationals with cash). See a recruiter, you've got be be kidding. My taxes and your taxes are paying for all this and a bag of chips. Should we have all of El Paso's youth join the military? My family has done that 5 fold.
0 votes
Bruce Lynn, Agent, Coppell, TX
Mon Oct 10, 2011
"People are always blaming their circumstances for what they are. I don't believe in circumstances. The people who get on in this world are the people who get up and look for the circumstances they want, and, if they can't find them, make them."

-- G.B. Shaw, Mrs. Warren's Profession, 1893
Web Reference:  http://www.teamlynn.com
0 votes
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