Home meticulously maintained
• 3,272 sq. ft., 4 bath, 5 bdrm 2 story "Master Bedroom Suite Upstairs" - 
MLS® $425,000
Franklin Hills, Franklin Heights - Bright and cheerful custom made 2 story 5 bedroom 4.5 baths home located in the Franklin Hills area. Nestled in the Franklin Mountains and located within minutes of schools, shopping, family outings and everything west El Paso has to offer. Formal living and dining room, landscaped front and back wtih automatic sprinklers, spacious kitchen with granite and stainless sttel appliances is amazing. This home has been proudly and meticulously maintained and is available for immediate move in. Schedule your appointment to see it today.
Property information
Many times, I get emails from first time home buyers that request additional information on home buying in the El Paso area. The following is an email with questions from an active duty soldier looking to relocate to the El Paso/Fort Bliss area and my response towards the end.
In a message dated 4/11/2008 7:21:50 A.M. Mountain Daylight Time, [name witheld] writes:
Good Morning Mr Alvarado-
We are diligently going through the homes on the website and other places to see what is available. We have made a short list of houses that we are interested in and are planning on making a trip to El Paso to look at some of them in May. We are interested in working with you to find our home. We have not gotten pre-approved yet because we're unsure about how long that approval will last and given the fact that my husband will be away at training until the end of July we were uncertain. We did have a couple of questions though:
1. How long does the typical pre-approval last? We have checked our credit reports/scores and right now we both have a 740. I'm assuming that might be acceptable given the current state of the market- or are we looking at a problem? We're would like to go with a VA loan-possible through USAA unless you have another suggestion?
2. If we find a home and want to put an offer in, is it possible to schedule the closing the end of July, when we'll actually be moving to El Paso?
3. Is there a list of bank repossessions or foreclosures? What are the advantages/disadvantages of purchasing one of these homes?
I think those are our questions right now. Thanks for your willingness to help us navigate the housing market as we make our transition to sunny El Paso!
Thanks,
Hi [name witheld],
Thanks for getting back to me so soon. In response to your email:
1) Your pre-approval is good for three months (depending of who you go with). The reason I like to get you pre-approved three months in advance is that your pre-approval gives us a very good "starting point" before initiating a home search. I can't tell me how many times I've had home buyers "settle" for a much smaller house that what they would have liked just because they did not qualify for the bigger house. Of course, you may go through USAA. I have worked with them in the past and am looking forward to working with them again. One thing that I ask, get a "good faith estimate" on your closing costs and let's compare with another mortgage company here in town. Ultimately, it is your choice who you go with. I do know for a fact that different companies will charge you different rates.
2) When we find you a home that you like, it is advisable that we put in an offer as soon as possible. The home buying process will take approximately thirty days to closing once we put in an offer so let us plan ahead. I have seen home sellers wait as long as forty five days towards their closing. I'm afraid that much more than that and they will not accept your offer to purchase. Think about it for a moment, they have to give additional mortgage payments and that reduces their profits from the sale of their home.
3) To keep up with the current lists of bank repos and foreclosures, I go to the bank's home site and that is where they are listed. Just so you know, banks play by their own rules and much of what I'm advising you does not apply.
Please feel free to email me back with any more questions that you might have.
Mike Alvarado
Remax Associates
(915) 494-6637
Wide Open Spaces
• 2,709 sq. ft., 3 bath single story "High Ceilings" - $299,000 - For Sale By Owner
Emerald Estates, Horizon City - Fall in love with this beautiful single story home offering a four bedroom with three full bathrooms, three car garage with a garage door opener. The chef of the house will absolutely love the super large kitchen with spacious eating area, tons of cabinet space and kitchen island with custom Kitchen Aid appliances. Wide open spaces welcome you into the formal living room and separate formal dining room with high ceilings, custom shutters and ceiling fans. Relax in your spacious family room with custom built-in entertainment center, custom shutter, and ceiling fans.
If you like to entertain, this is the home for you with front and back landscaping, the huge backyard includes surround sound ready, a half basketball court, custom gas grill, and two level patio deck all included!!
Your own personal touch will make this home a great place to enjoy for many years to come. Call me to view this property today by appointment only.
Property information
Home Value Estimate
Thinking of selling your home this year? You'll want to order a Comparative Market Analysis from your local real estate agent. This analysis is free from most Realtors. This report consists of researching your neighborhood and finding out which homes have sold in the past six months in your area or are currently for sale as recorded in the Multiple Listing Service (MLS) that all REALTORS® use. What is MLS? The biggest thing to remember is that this report is not a certified appraisal.
If you are looking to sell your house or, just want to know the value of your home, this is the place to find out.
Of course, every home is unique. That’s why having an accurate home evaluation is so important. Your home’s amenities – such as a fireplace or deck – can add value to your home. So can any new or remodeling work you’we done, such as kitchen renovations or a new roof. Find out just how much value these features add to your home by requesting your free Comparable Market Analysis now.
Please complete and submit the following Home Evaluation form. The more information given, the more accurate the evaluation. All information you provide is secure and will be kept strictly confidential.
To provide a more detailed Comparative Market Analysis, we would be more than happy to also assess your listing in person.
Start now by filling out the quick and easy online form below to get your home’s value:
By now, everybody in the United States knows that the country is in the middle of a major correction in the real estate market and the city of El Paso is no different. With news of price reductions in all major news channels, home sellers that have to sell expect the worst.
Most real estate markets have price reductions unlike we've seen in many, many years. Many times home buyers are seeing "instant equity" the day of their closing because houses are priced way below appraised value. Even with these changes in this market, home sellers still need to sell and home buyers still need to buy.
What to do? The more prepared home sellers are the better their outcomes. With literally thousands of homes for sale in El Paso County, the home seller must do everything possible to have their home stand out amongst a sea of MLS listings.
Whereas location, location, location used to be the single most important criteria for home buyers, the presentation of the home at the initial showing has taken over as the most important item:
- Is the entrance to the front door free of debris from yesterdays sand storm?
- Does the inside of the house need paint? Upon entering does the house look clean?
- Was there a pet living inside the house? Does the house smell clean?
I can't tell you how many times my home buyers ask to see a house that is not in the area that they initially were looking at. Either because they drove by a house that "looked nice on the outside" or they saw a set of very nice photographs online along with virtual tours and great listing information. And yes, I end up selling them the better looking home.
Ultimatelly, what's going on inside the home buyer's mind is, "If I buy this house, what's in it for me?" Check with your listing agent and ask if he or she has any other ideas to placing your home listing in front of more home buyers and then, listen to his advise. It may cost you just a few hundred dollars to paint the inside of your home now but, it is almost guaranteed that you'll make up for it in thousands of dollars at closing.
Next Week: The more home buyers that see your home listing the better - Is your home listing being seen by thousands of potential home buyers?