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Market Conditions in 79941 : Real Estate Advice

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Activity 10
Tue Dec 20, 2011
Michael Bulzomi answered:
http://www.huduser.org/portal/publications/PDF/ElPaso_Comp_2011.pdf

Is this good info below?

report cites: The student population at UTEP, which is 3 percent of the HMA population, also significantly affects the rental market. About 20,550 students are estimated to live off campus, and those students represent about 4 percent of the occupied rental units in the HMA. Apartments account for approximately 42 percent of all rental
units in the HMA; the remainder of the rental stock primarily consists of single-family homes and mobile homes."
... more
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Mon Jul 26, 2010
Jim Lanfranchi answered:
You would contact your City's or County's assessor's office. Be prepared for a possible increase in your home's taxes though!! Also, the building inspector may pay you a visit to try and figure out how your home "grew." A good appraiser will measure your home properly and then try to reconcile any differences between the property card and his/her measurements, and explain them in the appriasal report. ... more
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Sat Jun 26, 2010
Cynthia Morris answered:
Price per square foot varies greatly in any area. Variances are attributed to condition, ammenities, location, size, age, new or resale or short sale or foreclosure or auction. Whew and that is only part of the valuation equation. So today in 79938 there is as low as $38 to a high of $140. Just looking, what are you looking for. We have it all...

Wishes that just looking is fun, and if it is not call me

Cynthia Ann Morris,
"At Home With Diversity: One America" REALTOR®:
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Serving you and all of El Paso County..
Phone 915 471 4300
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email cynthia@EPHomeSearch.com
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I want to be the only REALTOR ® you will ever need
Technology will NEVER replace real estate professionals, but real estate professionals with technology WILL
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Thu Dec 24, 2009
Mike Alvarado answered:
Hi warrior44iraq, As you well know, we are smack in the middle of a very strong "buyer's market" and sellers in this area are reducing their prices drastically to finally sell their homes.Unfortunatelly, there are numerous foreclosures that are also affecting home sales. Add all of this up and you get price reductions galore.

Why don't you click on the following web site and order your free no obligation market analysis to see exactly where your selling price should be at?
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Wed Jun 17, 2009
Rick Snow answered:
The beauty of the internet is that it allows you to do all kinds of research. The drawback is the data is not always accurate. We have closed about 2000 homes so far this year in El Paso since January. We are averaging about 350 homes a month. As for prices for 2000 sq ft homes on the east side, my data indicates there have been 75 homes sold between 1900 and 2100 sq ft with a low of $55/sq ft up to $106/sq ft. Sales prices are averaging out to just over 96% of list price. Of course this is MLS data and would not include bank owned, FSBO, repos, etc not listed through the MLS.

Sellers that are realistic in their pricing are selling their homes. Buyers are still getting good deals and homes with value.

Let me know if I can provide any more info or clarification.
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Fri Dec 4, 2009
kristal wilson answered:
When comparing new home construction to resale homes it is often difficult to manage an apples to apples comparison since the builder can offer additional incentives here in California. They may contribute up to 6% for closing costs & buydown of interest rates. The warranties the builder provides are from 1 year (builder warranty) to a 10 year structural warranty. All of these intangibles have weight when assessing the value per square foot cost. Really it comes down to the closed comparables and the value you may give to a new home vs resale. This is always a great negotiating tool when working with a builder. ... more
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Mon Jun 8, 2009
Rick Snow answered:
4 Bedroom homes are typically in demand, simply because there are fewer of them. There are currently 7 homes with 4 or more bedrooms at 3K sq ft and up, in west El Paso. In the last 6 months there have been 8 rentals with those criteria, renting from1700-3799 per month. ... more
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Thu Dec 24, 2009
Rick Snow answered:
Properties in this area have sold from $60,000-$340,000. There have been 28 sales. In order to narrow your search you need to get more specific about the property you want to compare. If you would like a market analysis of a specific property or a marketing consultation, with no obligation of course, just send me an email. rick@ricksnow.com ... more
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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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Sun Jul 15, 2007
Deborah Madey answered:
Where did you find this? Not all sites are created equal. Data integrity varies site to site. It's possible that there are no sales. It's also possible that the site data is dated or incomplete. If you can advise where you saw this, someone might be able to better answer. ... more
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