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Dear Prospective Homebuyer, It's all in the data. The basis for answers to questions, such as: What is this house worth? Should I buy now? Should I wait? is in the analysis of timely and relevant objective data. Whereas a national news report covers extreme cases in a nationwide housing market (i.e foreclosures) and does so in generalities, it is important to note that El Paso's residential real estate market is uniquely different, driven by local, less dramatic factors affecting our economy. El Paso's housing maket is established with significantly more residential properties on fixed rate mortgages than adjustable rate mortgages (ARMs). Fort Bliss is expanding and fast becoming the largest military installation in the world, major call centers are relocating to El Paso, a new children's hospital is under construction, and a new medical school is opening soon. These facts support our housing market is less prone to a downward market swing and has a very promising long-term outlook for sustainable growth. For the time being, the real negative factor affecting our housing market is buyer hesitancy and uncertainty regarding a particular home's fair market value. Buyers are hoping for additional reductions in home prices, and sellers are slowly realizing that they are not likely going to get top dollar. As a result, pent-up demand is being created. Supporting evidence for this can be found in our relatively low inventory of available MLS rentals. Buyers are waiting. Fortunately, however, this disequilibrium in the market is temporary. It is only a matter of time. With the bounty of available homes and anticipated lower interest rates this summer, the demand for homes will likely translate into a buyer's frenzy. Then in fall and winter, hopefully with a renewed consumer confidence and emerging positive political climate, the momentum in our housing market will slowly continue to stablize and eventually revert back to a seller's market by Summer 2009. In El Paso, now is the best time to buy! Inventory is high and interest rates are low, and over the long-run, our housing market will continue to experience growth. It is our job as REALTORS® to help you understand El Paso's historically stable housing market with an analysis of objective data. More specifically for prospective buyers in today's market, it is our job to help you negotiate a fair market price on a property which is oftentimes thousands less than the list price. In our continuing effort to help you with your residential real estate needs, this website is designed with you in mind. ElPasoTexas.org is easy-to-use and easy-to-find on ElPasoTexas.com. It offers relevant information and multiple photos on all El Paso's MLS Homes, For Sale & For Rent. It is freely accessible without the initial requirement of you having to share your contact information, and all changes to property listings appear here the very next day. ElPasoTexas.org is a perfect start for your home shopping because it enables you to communicate more effectively with your REALTOR®. You no longer have to thumb through out-dated print publications. All of El Paso's MLS Homes are here, freely accessible at your fingertips, and a knowledgeable REALTOR® is only a click away. Moreover, we encourage you to sign-up for daily email notifications of hot new listings to hit the market. Or better yet, we want to work for you! Initially, we will stay in communication with you about the fair market value of properties you've selected and provide you access to preview them. Then after you've submitted an offer to purchase, we will continue negotiating in your best interest on price and property repairs with the seller. Our professional Buyer's Representation service helps ensure you get the best possible price on a property in the best possible condition with the least amount of headaches. Request the time- and money-saving convenience of Buyer's Representation today! With Buyer's Representation, you pay nothing to employ us as a your buyer's representative REALTOR®. Instead, your commitment to work with us and give us valuable feedback helps us with our continuing effort to fine-tune our representation services. In the end, our financial compensation is a commission paid to us by the seller, at the closing of a transaction. To get started, send us the MLS numbers of the homes you would like to preview, accompanied by your contact information. We will reply with an online agreement for you to review, sign and return with the click of a mouse. Or if you prefer, you can sign with an ink pen and returned it in-person on our first or second day of previewing homes together. We look forward to hearing from you, Oscar Avila |