El Paso Real Estate Market Statistics

August 21, 2012

The real estate market in El Paso is doing well in 2012!

Year to date, through July, El Paso residential sales are up 9% over last year. The median sales price is up 3.8% to $134,950. We have a 7.1 month supply of homes for sale in El Paso Texas, down from 8.6months last year. Things are looking up!

If we can be of assistance in helping you buy or sell a home in El Paso, Texas let us know.

By the way, interest rates are still incredibly low – below 4%!!!

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

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Special Down Payment Assistance Financing Available for Teachers, Fire Fighters, Police!

August 15, 2012

If you are a teacher, fire fighter, or police officer, you can now purchase a home with no down payment required – thanks to special Texas State Bond Money Financing that just became available. The interest rate is a low 3.75% fixed for 30 years. You don’t need to be a first time home buyer to take advantange of this. To find out more about purchasing a home for sale in El Paso Texas give me a call at 915-549-4663 or email at BarrySKarch@aol.com .

You can search all homes for sale in El Paso Texas by clicking here.

Mid Year Check of the El Paso Texas Real Estate Market

July 21, 2012

Through the first half of this year, the El Paso real estate market has been much stronger than last year. Year to date, the number of homes sold has increased 9.2% while the median price has increased 2.3%. Housing affordability continues to increase as interest rates have set record lows.

These are truly historic times. Don’t miss the opportunity of a life time to buy a home now. Homes will probably never be this affordable again.

Let us know if you’d like to get started – and remember – there is no cost for us to professionally assist you.
You can search all homes for sale in El Paso Texas by clicking here.

What Renters Are Willing To Sacrifice For A Home

June 25, 2012

According to an article in this month’s RealtorMag, 80% of renters are willing to give up certain things so that they can purchase a home.

What are renters willing to give up?

* 50% would cut back on dining out
* 49% would cut back on shopping for non-essential items
* 47% would give up luxuries such as trips to the salon and expensive cable packages
* 39% would cut back on vacations
* 10% would contribute less to their retirement plans

Why are so many renters willing to make sacrificies? The record low mortgage rates and appealing home prices are making home ownership very attractive right now.

How do you stack up?

Ready to get started? Find out how easy home ownership can be. Give us a call or email today!

Search all homes for sale in El Paso Texas by clicking here .

You can also get a free app for your smart phone to search all homes for sale in El Paso Texas by texting SunCity to 87778.

El Paso Real Estate Market Statistics

May 16, 2012

Activity in the El Paso real estate market has increased over last year. Year to date, the number of closed sales has increased by 6.5% and the number of pending sales has increased by 20%. Prices have remained virtually unchanged, however. Our median sales price is still a very affordable $131,000.

For a seller, the average days on the market is 147 days.

If I can be of assistance in helping you buy or sell a home in El Paso, Texas, please give me a call at 915-549-4663 or email me at BarrySKarch@aol.com .

You can search all homes for sale in El Paso Texas by clicking here.

Looking For A Home For Sale In El Paso Texas?

March 21, 2012

We were featured in The El Paso Times:

New business: The Real Estate Power Houses
Times staff reportselpasotimes.com
Posted: 03/18/2012 12:00:00 AM MDT

Name: The Real Estate Power Houses.

Type of business: Real estate brokerage.

What is your specialty: Residential real estate in the El Paso area. The Real Estate Power Houses embraces the latest technology to provide cutting-edge service for our clients. We can even provide our clients with an app so that they can see what homes are for sale in each neighborhood as they drive by.

Number of employees: seven.

Future goals: To remain on the cutting edge of real estate technology to provide our clients with exceptional service.

Your motto: Cutting-edge technology with old-fashioned service.

Address: 251 Shadow Mountain.

Website or social media: TheRealEstatePowerHouses.com

Information: 549-4663 or BarrySKarch@aol.com

You can search all homes for sale in El Paso Texas by clicking here.

Get an app for your phone or tablet to search all homes for sale in El Paso Texas by clicking here:

http://mobile.smarteragent.com/treph/barrytammykarch

or text SunCity to 87778

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.

 

Search Homes For Sale In El Paso Texas On Your Mobile Phone

February 11, 2012

I want to tell you about a great new way you can search for homes for sale in El Paso Texas – right from your mobile phone.

This tool will allow you to search homes for sale in El Paso, Texas anytime, anywhere – right from your cell phone!

Wherever you are, driving, or walking around looking at properties, you’ll have access to all of the MLS information on the homes for sale around you, with just one touch of a button on your cell phone. Hit “Call to See” and you will be put right in touch with ME, ready and waiting to serve all of your real estate needs.

It’s so easy to do! Just text SunCity to 87778, and the application will be sent to your phone by text message. Just click on it and the application downloads right away.

I know you will love this great new way to look for homes. So don’t delay – start searching for your dream home TODAY!

Always at your service,

Barry Karch
The Real Estate Power Houses

El Paso Real Estate Market Results 2011

January 18, 2012

Here are some El Paso market stats for 2011:

The median sales price remained unchanged at $135,000.

The number of days on the market until sale remained unchanged at 135.

The number of closed sales decreased 9.6%.

The number of months supply of homes for sale decreased from 7.2 to 6.5.

What does all of this mean? The El Paso home market was quite stable in 2011. I’m expecting a stronger year in 2012 due to the smaller supply of homes for sale, the still affordable prices, and super low interest rates.

If you’d like to search for a home for sale in El Paso, Texas click here .

The Golden Age of Real Estate Investment

January 10, 2012

This is the best time I have ever seen for investing in real estate in El Paso, Texas. We have a unique set of circumstances – super low interest rates, high rents, a shortage of rental properties, and low sales prices. Most real estate investments will now yield a high cash flow – especially compared to the alternatives – bank accounts are paying next to nothing, and stock market returns haven’t been any better.

Most long term wealth has been created through owning real estate. Whether you are an experienced investor or just starting out, give me a call or email and I’ll be glad to help you find a great property to help you achieve your goals.

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