Lovely home located in Casitas Coronado. High in the mountain, this beautiful neighborhood offers a peaceful welcoming community. Enjoy the beautiful view from the Patio and a walk surrounded by greenery. The kitchen is equipped with granite, stainless steel appliances and, just a few steps away, formal dining, breakfast room, family room. 5 bedrooms including an office/study, 4 baths. The master bedroom, separate from the others, is spacious and shows off a fireplace, luxury bath, and a private balcony. With flexible rooms, dining room can easily become a second living area, office/study converts to a bedroom, breakfast room can become formal dining. Beautiful hardwood flooring, custom shutters. Live happily at the top of the mountain.
Professional office building located off Mesa and next to the Montecillo Development with easy access to I-10 Thru Executive and very soon through alternate routes. These suite is ideal for insurance companies, CPA firms, Engineers, Attorneys and other professional service contractors. This suite has one front desk area, two offices and one break room with a kitchenette.
Courtesy of City Bank, here is a weekly report with the market information; “Markets in a minute” is relevant information that may help you in your decision making while deciding to get a mortgage or refinance.
Please take a minute to check it out, now is good time to make an investment in Real Estate as the rates are at an all time low. Call us if you want to discuss the market, we are here to help.
We want to share some interesting information with you. December was a good month for El Paso Real Estate Market we sold 15.7% more homes than the last month, and 25.8% more compared to the same month last year.
The good news is that the market maintains a growth trend. The sale price of the properties is also growing, 7.5% more compared to December, 2019. This can be explained by the low inventory, the intense demand and the current low interest rates as low as 2.5% (30 year fixed).
According to some industry sources, rates are expected to rise modestly in 2021. The combination of rising mortgage rates and increasing home prices due to shortage of inventory will accelerate the decline in affordability and further squeeze potential home buyers during the spring home sales season.
So if you or someone you know is considering buying a home in El Paso, it’s better to get in on the action fast before the springtime. It’s tough out there to buy, but might as well get on with it.
But on the other hand, if you want to sell and you have a plan B of where to live, then you are in a good spot to sell your house faster than normal and get top dollar (appraisers allowing).
So let us know which direction you or a loved one desires to take, we can help.
In the meantime, check out the current El Paso Real Estate market statistics:
Are you ready to buy a Home but you don’t know where to star? Follow this steps:
Talk to mortgage brokers. Many first-time home buyers don’t take the time to get prequalified. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely.
Be ready to move.
This is especially true in markets with a low inventory of homes for sale. It’s very common for home buyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house.
Find a trusted partner. It’s absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process.
Make a good offer. Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller.
Factor maintenance and repair costs into your buying budget.
Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.
Think ahead. It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy. The average first-time buyer expects to stay in a home for around 10 years, according to the National Association of REALTORS®’ 2013 Profile of Home Buyers and Sellers.
Develop your home/neighborhood wish list.
Prioritize these items from most important to least.
Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account nearby schools, recreational facilities, area expansion plans, and safety.
Are you looking to lease for that ideal office space that provides you with the flexibility to have two different departments or areas in a convenient part of town? Look no more, we got this great space that has easy access and plenty of parking. Nestled in the heart of the East Side, this office complex on Yarbrough offers you complete access to all parts of the East Side. Easy access to 1-10 or Montana, makes this space a desirable location. Property Hi-lites:7 Offices1 Conference roomOffice can be split into two separate areas since it has two separate entrances (Ideal to split departments).Two bathrooms.23 parking spaces.Refrigerated air.$17/sq ft Modified Gross or $3,543 Dlls monthly does not include electricity, water and taxes.
Strategically located in the heart of the West Side of El Paso, this house makes a perfect home for anyone that wants be close to great stores, restaurants and schools and yet live in a quaint neighborhood. A five to seven minute drive gets you to Coronado High School, Whole Foods, great restaurants and shopping. This one story, 4BD and 3 BA house features a large corner lot with a recently updated HVAC system. In addition to a great floor plan, this house features a room that can be used as an office or home schooling venue. Please make an appointment as soon as possible, this might be yours soon.
I hope everyone is doing well and coping with the current situation to the best of your capabilities and holding on strong in good health.
With all the recent news and the upcoming downturn in the economy, I took a quick dive into how El Paso has done in real estate matters (Residential) in good times and bad times. I found a great research article on the El Paso housing market from a reputable Texas University. Here are some of the findings for you to see and reach your own conclusions.
Lets talk, I am here to help.
El Paso Real Residential Market
During the boom of the Real Estate Market in the US, El Paso indeed had a spike in volume of unit sales in 2006 and 2007 as well in average sales, beating the $1B Dlls mark. Then it dropped to levels of back when things were normal. So the El Paso market did not take a nose dive to levels worse to when things were normal. Market just went back to where things started in 2003.
As for Volume of sales in El Paso, 2008, the worst year of the crisis, the sales volumes compared to those of 2001 but the sales price remained strong and helped offset things.
Average Sales price NEVER dropped as a result of the Real Estate Crisis in El Paso according to these figures provided by this source. Very interesting finding.
As you can see, it took 6 years in El Paso to get back to the levels of the Real Estate Boom of the wild days of Real Estate in America, starting in 2015 things got back to those levels and has remained consistent until 2019.
If we did not have the current situation (CV), the trend in Volume is set to diminish as there is less inventory available to produce sales. So price would remain steady or increase.
The question right now is what will happen to sales volume? My thoughts are they could offset to slow down a bit, but still be confronted with LOW INVENTORY of property that is currently available in El Paso (Currently at 3 months down from 10 months in 2008).
So my personal take is that home prices will remain solid in El Paso as the above history has shown us and sales Volume will drop slightly to the 2015 levels, but it will be coupled with a low inventory. So the effect can somehow be netted out for the next 2 to 3 years (Pepe Guess) without hurting average sales price of homes.
A pressing question to ask is how hard will the upcoming economic downturn affect the El Paso Market, as quantity and quality of jobs translate directly to Real Estate Sales.
Lets keep El Paso Strong!
El Paso Residential Market
An interesting takeaway of this chart is that Sales volume never has taken a dive from the BASE LINE VOLUME, it does decrease Vs the previous year, but never against the VOLUME BASELINE.
In terms of the Average Price, we do see that prices go down Vs previous years , but stabilized to the Pre Boom Years of 2004 and started climbing in 2014/2015. So this could be an indicator of what is to come. My personal take.
El Paso Residential Market
This table helps us see that we are moving away from the cheaper houses little by little, but the bulk of things in El Paso are still between $100K and $200K. So this table can help you to see where is where you want to do your FLIPS or Rental Investments long term, as this is what El Pasoans are mostly buying (76.40%).
I hope these loose and rapid thoughts help give you some context into how the El Paso market does when the rest of America is both in trouble and good times.
Lets talk if you find some interesting facts or observations that I overlooked. I have not drunk enough coffee yet.
Beautiful cozy home located at Franklin Hills, with a beautiful view, 1 story, 3 Bedrooms, 2 full baths, 2 living areas, one with gas fireplace. Both front and back yards are completely landscaped. Pre-wired for alarm. Clean and well maintained close to parks, trails, and A+ Schools. (Tippin Elementary, Hornedo Middle School, Franklin High School)
Industrial warehouse on Barranca off Pellicano with easy access to I-10. Large open facility with 4 office space in the front with one bathroom, Mezzanine space for storage. Lab room, Meeting room, Break room, Testing facility, 14 parking space and maneuvering and parking space for trucks.This property is zoned P-I, ceiling high 14′ One dock, garage door 10’x9′ and 8’x8′. Sprinkler fire systems, alarm, 3 phases electricity, men and women Bathrooms, flag pole.. Refrigerated air at the offices.