How long does it take to buy a home 03/01/2010
Hi El Paso Home Buyers So glad you found my site helpful. As a Buyer's Agent, I invest a tremendous amount of time and money to provide these real estate tools and services for my clients. Please call to set up an appointment to meet. If you are trying to take advantage of the First Time Home Buyer tax credit then time is of the essence. Because the process of buying a home can take 2-4 months on average, you are running out of time. You may be wondering why the process takes so long. First, you need to pre-qualify because 99% of seller's want a pre-qualification letter to make sure you have the ability to purchase their home. Call me for El Paso Mortgage companies with many years of experience in bond, FHA, and VA programs and will handle your application promptly. Pre-qualification should take about 24-48 hours. Then you shop for your home, which can take from 2-4 weeks depending on your expectations. Once you have selected the right home, I proceed to negotiate a contract with the seller. Depending on the number of contingencies, the negotiation process can take a few days. Once the contract has been executed by both parties, you are going to schedule and pay for a termite and home inspection, which can take about a week. I always make my purchase agreements contingent on inspection. It is likely the home inspector my find some issues with the home depending on the age of the home. We then need to decide if you want to take the house as is or we need to ask for concessions from the seller. If the seller makes the requested repairs then that will take some time. Your lender will require an appraisal which can take 3-7 days due to the changes in appraisal laws. Once the appraisal is done (hopefully at or above the price you offered) the loan goes to an underwriter for review which can take several days. Your lender will often require that you have PMI if you put down less than 20% on the home mortgage. This is just a brief summary of what to expect in the process. I can provide more details at our meeting but in the meantime, you can read all about buying a home at Texas Real Estate. Homes in Horizon City and El Paso Tx 02/24/2010
Horizon city is a thriving community in El Paso County with many cheap lots in Horizon city - El Paso County. A renowned El Paso Economist David Schauer along with other at IPED authored an economic impact report last year that explains the impact of El Paso - Horizon City's growth to the east. We are already seeing huge development of both commercial and residential properties in east of loop 375 and north of I -10. I have been fortunate to be an El Paso native for 30+ years and have seen huge changes in our city's dynamics. As a Horizon city and El Paso Remax Realtor of my current clients are military relocations and many want to buy in the Horizon City - El Paso Tx areas, away from the base but convenient to the 375 loop. If you inherited/own/or just need to know where your particular Horizon City - El Paso Tx parcel then I recommend, as I do all my sellers with property out there, GETTING A SURVEY. The cost is nominal and he/she will tell you exactly where the property is. Before I market any land in Horizon City - El Paso Tx I require a survey not only because I need to know exactly where the lot is to take pictures for the mls but you will have to provide that as part of the purchase contact. I am in the process of researching exactly who the surveyor was on several lots in Horizon city 105 because I believe there very well may be developer interest in the next few years. Perhaps some of you have the original survey conveyed with the deed. If so, that surveyor was probably the same one used for the entire area. Please email me at yrussell@russell-realtor.com if you have any questions or comments. El Paso - Horizon City Foreclosures 02/10/2010
Looking for a Foreclosure Property in El Paso and not affaid of a little hard work then here are the latest listings of Foreclosures in El Paso - Horizon City. Call/email Me for more details and to show these properties. 375338 4324 LOMA DEL NORTE EL PASO, TX 385237 4941 WINGARD EL PASO, TX 385264 3405 WATERSIDE DR EL PASO, TX 385909 7416 CAMINO DEL SOL EL PASO, TX 386512 10108 CHINABERRY DR EL PASO, TX 386589 1401 HAWTHORNE EL PASO, TX 382054 4872 EXCALIBUR DR. EL PASO, TX 383915 3076 TIERRA SALADA EL PASO, TX $ 384434 12216 HOLY SPRINGS EL PASO, TX 385160 10724 AQUAMARINE EL PASO, TX 385252 6012 MORNING GLORY EL PASO, TX 386103 11220 WILLIAM MCCOOL EL PASO,TX 386497 5300 DEBEERS EL PASO, TX 386498 10893 LOMA CORTA EL PASO, TX 379617 1604 VILLA DEL SOL EL PASO, TX 379623 3820 HARRISON EL PASO, TX 382315 630 BLUFF CANYON CIR EL PASO TX 383958 10312 SHOSHONE EL PASO, TX 38435 12238 MARIA SEANES EL PASO, TX 38459 13705 PASEO RICO HORIZON, TX 38476 7059 CROWN RIDGE EL PASO, TX 38483 5464 RIDGE ST EL PASO, TX 38524 1729 SARAH RACHEL EL PASO, TX 38548 11357 LINDENWOOD EL PASO, TX 38552 12448 TIERRA INCA EL PASO, TX 385544 11960 ROYAL WOODS EL PASO, TX 385952 6061 MORNING GLORY EL PASO, TX 386389 12256 TIERRA ALAMO EL PASO, TX 386577 5808 SIXTA EL PASO, TX 386645 14133 DE STEFANO HORIZON, TX 386664 533 COVINGTON RIDGE EL PASO, TX Yvonne Russell, Buyer's Agent Remax Associates El Paso, Texas 79935 (915) 873-8646 yrussell@remax.net Homes under $100K in El Paso 02/10/2010
El Paso east side home in the Tierras, El Paso Texas priced below market. This very cozy and clean single story home is only 5 years old. Near schools and shopping. Close to new hospital and Joe Battle. Bedrooms good size, 2 full bathrooms, double garage, dog run. tile throughout main areas, professionally cleaned. Brokered And Advertised By: RE/MAX Associates Listing Agent: Yvonne Russell 2010 Housing Outlook 01/30/2010
Are foreclosures dragging home prices down? According to most economist the answer is a definitive YES. Economist, Mark Zandi predicts with growing unemployment, home prices will likely continue to fall another 10% in the next 12 months. By his estimates another 2 million homes will be in foreclosure in 2011. Currently about 2 million single family homes are in foreclosure or REO. Talk about transfer of wealth. The El Paso - Fort Bliss area has not been exempt for the foreclosure story. But not because of unemployment as Zandi predicts will continue to contribute to the increase of bank-owned properties. No, it is predatory lending practices that prevailed during the 2005 - 2006 housing boom. Making homes affordable for people with enuse credit or transitory employment was a huge mistake for El Paso. Unfortunately, the only one left holding the bag was the home owner. The silver lining, if you can call it that, in El Paso is that for the first time since labor records have been recorded here, unemployment is lagging behind the national rate of 10.2%. Zandi predicts a one point increase mortgage rates will increase after the first quarter of this year as government programs like First time home buyers tax credit expire. Although other economist predict a sharper increase in mortgage rate well above 30Y Tbills. Download the pdf to see the housing picture for 2010 provided by Economy.com. As you will notice some states will fare better than others. According to Zandi we are nearing the end of the housing crash. 
Seller's Agent/ Listing Agent Representation 01/23/2010
As a Buyer’s Agent and REALTOR I have access to any property in the El Paso, Taxas, Fort Bliss and Horizon area no matter who listed the property. So even if the house is a foreclosure a Buyer's Agent can get you in to see the home. When searching for a home it’s important to be independently represented. If you contact the selling agent a/k/a the LA you are talking to the agent that represents the seller ONLY. The LA may get you to sign with him/her and may or may not tell you that they will act as an Intermediary. As you may know the Seller’s Agent does not owe you any duty to protect your interest. But when he says he will represent both seller and buyer he must not disclose any confidential information to you about the seller and vice-versa and he must disclose material information to you and vice versa. It gets pretty sticky when, as a seller’s agent, you already know so much about your seller and now must act as an impartial party to the transaction. I have never and will never act as a intermediary because of the possible conflict of interest this presents. This is the only licensure that allows dual agency. As you can see I feel passionate about this subject because home buyers are not aware of the fiduciary duty owed to them by agents. It’s like appearing in court with the same attorney as your opponent. I use this analogy because I was in the legal field for 20 years. According to Washington based CQ Press El Paso is the 2nd safest city in the nation. Economically, if your want to know what is really happening in El Paso, read the IPED economic impact report (dry but good info). With the influx of 30K military personnel relocating to El Paso plus the new medical school we haven't really felt the recession yet. Actually, El Paso is generally insulated from national economic conditions. Additionally we have a thriving housing sector. $24.5 Million in bond money is now available through the El Paso Housing Finance Corporation plus USDA funding for certain areas of El Paso- Horizon. As you may have read in the El Paso Times Horizon city, "the Tierras" has been in the news due to a flood of foreclosures. Not because of the economy but because of subprime loans resetting. This area was flooded with no-doc, stated income type loans that led to the housing collapse. This is unfortunate for some but a goldmine for others. These properties are 10-20% below market and in near new condition. As you can probably tell my undergrad degree is in Economics and I'm a Realtor but I also love this town. PCS Paperwork you will need 01/18/2010
Paperwork Checklist
Managing Your Military Travel CardWhen you receive PCS orders, you probably will be issued a military travel card. This card—similar to a credit card—comes in handy when paying for moving expenses, but it also must be used wisely to avoid running up extra expenses. Follow these steps to manage your travel card: If you have any questions about how the military travel card works, ask your chain of command or travel card monitor. 7 tips in buying a foreclosure 01/17/2010
1. Budget the amount of money which will be required to make the many repairs. 2, Don't buy sight unseen 3. Evaluate the neighborhood 4. How long has the property be vacant? The longer it has been siting unoccupied the more likely there will be extensive repairs 5. Was it winterized 6. Get it inspected 7. Consider both bank owed repos and HUD homes. HUD homes go on the market 6 months after foreclosure |  
Yvonne Russell, RE/MAX
Main: (915) 594-3034 Fax: (915) 594-9253 Toll Free: (800) 880-3060 Contact email: yrussell@remax.net Mobile: (915) 873-8646 ResourceVisitor CounterArchivesMarch 2010 CategoriesAll Click to set custom HTML
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