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Old 07-21-2008, 04:31 PM
 
167 posts, read 406,514 times
Reputation: 91

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Quote:
Originally Posted by alikat1205 View Post
Ha- yes, I meant $20k!!!!!!!! Park Hills is a nice area, I think when you get over $300K in El Paso there aren't many buyers. There aren't many high paying professional jobs here. All things I wish I would have been more aware of! I wish we had rented!!!!!!!
Oh yes - to have rented would have been wonderful. Hind-sight.

But homes are selling, albeit, slowly, and they don't seem to be building that many right now, so maybe we will both get lucky. I am praying for us both.
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Old 07-21-2008, 04:40 PM
 
248 posts, read 555,083 times
Reputation: 101
me too. I knew it was bad, but you're scaring me now!
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Old 07-21-2008, 05:30 PM
 
167 posts, read 406,514 times
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Quote:
Originally Posted by alikat1205 View Post
me too. I knew it was bad, but you're scaring me now!
I'm sorry - I didn't mean too. I guess I am just needing a little faith right now.

Each house is different and if you believe the realtors, there are a lot of exiciting things happening in El Paso next year which should help.

Also if we end up taking a loss right now, we may be able to get a good deal somewhere else.
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Old 07-22-2008, 01:25 AM
 
197 posts, read 451,078 times
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As I mentioned, I spent a week house hunting in EP. Various price ranges because we just did not know what the values:housing was like. I was underwhelmed with what I saw. There were a few stellar homes and we made offers which were then countered too high so we moved on. Sellers are still looking for their price because of impending school start dates and they may just get it.

We did get lucky on a house that had two deals fall through right before we stumbled on its open house. The house was kind of held off the market for several weeks due to the other contracts and I'm sure that's the only reason we got it - right place, right time.

Frankly, a super clean, well-staged house should do very well in my opinion -- to the tune of 3 to 5 percent below asking provided it's priced right to begin with and the loction and lot are good.

If you are on a corner or back up to a drainage ditch or some other wonky thing, buyers will indeed be looking for a deal.
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Old 07-22-2008, 07:23 AM
 
167 posts, read 406,514 times
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Quote:
Originally Posted by alliswell View Post
As I mentioned, I spent a week house hunting in EP. Various price ranges because we just did not know what the values:housing was like. I was underwhelmed with what I saw. There were a few stellar homes and we made offers which were then countered too high so we moved on. Sellers are still looking for their price because of impending school start dates and they may just get it.

We did get lucky on a house that had two deals fall through right before we stumbled on its open house. The house was kind of held off the market for several weeks due to the other contracts and I'm sure that's the only reason we got it - right place, right time.

Frankly, a super clean, well-staged house should do very well in my opinion -- to the tune of 3 to 5 percent below asking provided it's priced right to begin with and the loction and lot are good.

If you are on a corner or back up to a drainage ditch or some other wonky thing, buyers will indeed be looking for a deal.
Mine is a super clean. one year old home in a cul-de-sac and the cheapest per sq ft in the neighbourhood, with pool and spa and all the frills, but still no takers.
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Old 07-22-2008, 08:43 AM
 
248 posts, read 555,083 times
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again, i think the price range is a problem, missing you are in the over $300K price range, and while there may be buyers, i don't think there are many in that range, el paso doesn't offer many high paying jobs. the houses up here in franklin hills sit.
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Old 07-22-2008, 08:54 AM
 
167 posts, read 406,514 times
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Quote:
Originally Posted by alikat1205 View Post
again, i think the price range is a problem, missing you are in the over $300K price range, and while there may be buyers, i don't think there are many in that range, el paso doesn't offer many high paying jobs. the houses up here in franklin hills sit.
You are right. It may take a year for mine to sell.
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Old 07-22-2008, 09:03 AM
 
248 posts, read 555,083 times
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a year is frightening. if our house is not sold within six months, my husband's company will buy at current market price. a loss to be sure, but we're done by six months at the most, thank goodness.
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Old 07-22-2008, 09:09 AM
 
167 posts, read 406,514 times
Reputation: 91
Quote:
Originally Posted by alikat1205 View Post
a year is frightening. if our house is not sold within six months, my husband's company will buy at current market price. a loss to be sure, but we're done by six months at the most, thank goodness.
Our company accomodated us by letting us move, but they do not buy houses, so any loss is ours to take.

What was the other option, stay and be miserable. It may take us a couple of years to recover financially from the hit, but it will all work out in the end.
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Old 07-22-2008, 09:18 AM
 
248 posts, read 555,083 times
Reputation: 101
i can completely understand that. we were grateful that our relocation package included the home buyout. we will still take a loss in terms of paying more than it will sell for, but it will be off our hands, and we're not coming back here, ever.
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