El Paso Texas is declared an undervalued market
I am a Broker Owner in El Paso Texas and came across the following interest research article. I know this is a great market and now everyone will know!! According to the real estate research service, Local Market Monitor, six towns qualify as under-valued according to their most recent survey. An interesting note is that two are in Texas and all in more southern areas of the U.S.
Under-valued U.S. residential real estate markets:
Augusta, Georgia
El Paso, Texas
Fayetteville, North Carolina
Little Rock, Arkansas
Mc Allen-Edinburg, Texas
Memphis, Tennessee
Price per sq ft ranges from $60 to $110. Of course their are some high high ends and some serious bad ones but the average is aweome. Buying El Paso Real Estate is a deal, a great deal.
Sellers, well it depends when they bought like in any market, but we are having success if the house is ready to show, easy to show, curb appeal, priced right. This is the same criteria of any time and any market condition but I do find that market, market, market is what sets apart the solds from the ones still on the market.
Hey, what no mention of foreclosures, just undervalued. I speak about El Paso and the undervalue comment is a fact. And then with the market as it is, foreclosures and short sales, add to the formula of 30,000++ military descending upon the community between now and 2011, huge medical school complex, manufacturing capital of Mexico across the river, this spells BUY. I am not talking today about flipping, but purchasing properties that are desirable rentals and cash flowing. Imagine, if you will, owning, 10, 20, 30 or more properties paid in full and 100% occupancy. Thought that dream went away? Think it is possible in El Paso? I do and I do it and my clients do it. Just writing this opens my eyes and all I can say is WOW!