Archive for the ‘Uncategorized’ Category

El Paso Texas Real Estate Market Continues Up!

June 28, 2013

The El Paso Texas real estate market has continued to move in an upward direction.  The median sales price is up 4.9% year to date over last year to $137,975.  The number of homes sold has increased 5.3%.  The supply of homes on the market has decreased from 8.1 months to 7.3 months.  You can see all homes for sale in El Paso Texas by clicking here .

Which Mortgage Is Right For You?

March 13, 2012

By Michelle Hille of www.newhomesource.com

                When it comes time to buying a new home whether it’s your first or fifth time, deciding the type of mortgage you will have is one of the most important decisions in the home-buying process.  For the first time buyer the world of mortgages can be a little daunting, but if you study up on your mortgage terms, you’ll have no trouble talking with a mortgage banker. Here is a comparison of the Fixed Rate Mortgage and the Adjustable Rate Mortgage. 

The Fixed Rate Mortgage

  • Fixed payments every month with a choice of a 15 or 30 year plan.
  • Good plan for people who will stay in their home for many years.
  • Refinancing is an option to decrease the fixed interest rate.

Adjustable Rate Mortgage (ARM)

  • Can offer a lower initial payment and lower interest payment in comparison to the Fixed Rate Mortgage.
  • Interest rates can drop making payments even lower; however rates can also increase and make your payments higher.
  • This is a good plan for people who will live in their house for a short time and are confident of low interests in the future.

There are other terms in the mortgage world that new homebuyers should recognize as well, such as a mortgage with a balloon payment. This is a term that describes a mortgage with an initially low monthly payment and interest rate and then it requires the homeowner to pay off the last of the mortgage in a short period of time.

Prepayment penalties can be written into a mortgage and it is a fee that is incurred when you pay off the mortgage before the set date.

Interest only payments may be allowed on your mortgage and this is when you are allowed to make payments only on the interest. This deal is usually for a limited period of time and it can sometimes make your principal payments increase. 

Make sure you learn these terms and do your own research for the type of mortgage that fits you and your family best. The type of mortgage that you receive should fit your lifestyle and financial ability.

You can search every home listed for sale in El Paso, Texas by clicking here .

Additionally, you can search every home for sale in El Paso, Texas on your mobile phone or iPad by clicking here  http://mobile.smarteragent.com/treph/barrytammykarch or texting SunCity to 87778.

 

Tempting Times for Home Buyers

November 30, 2011

Welcome to the great buyers market.  The monthly cost of owning a home is now more affordable than at any time in the past 15 years!  As a matter of fact, it is well less expensive than renting a home.

Low home prices, combined with low mortgage rates – around 4%, or even less – have created a very appealing buyer’s market.

You may never see another opportunity like this in your lifetime – but as you know, there are very unusual times!

You can search all of the homes listed for sale in El Paso, Texas by clicking here.

To get started taking advantage of the buyer’s market, give us a call or email at 915-549-4663 or 1-800-963-1909 or BarrySKarch@aol.com . We are glad to help. Our goal is to help you find the perfect home for your needs and to make your home buying experience an enjoyable one!

Interest Rates Fall Below 5%!!!

May 21, 2010

One positive result of all of the financial upheaval is that interest rates have fallen to their lowest levels of the year.  You can now get a loan for under 5%!  Homes are more affordable than ever.

To take advantage of this opportunity, if you’re looking for a home for sale in El Paso Texas, give us a call at 915-549-4663 or email at BarrySKarch@aol.com .

You can also view all of the homes listed for sale in El Paso Texas by clicking here.