You know with all the negative news we all hear about the real estate market, I have some positive news about the El Paso, TX real estate market.
Ft Bliss Military Base will be adding about 90,000 more soldiers and their family members by 2103. We already know that we are going to be way short on homes for the soldiers to rent or to buy. The city of El Paso is offering incentives to apartment developers in order for them to start building right away.
It is almost certain that the apartments will rent out very quickly and where can you get incentives to build right now? Investors are needed to start buying rental homes as not all soldiers will live in apartments.
Home buyers are making some great purchases right now and they are getting help from the sellers to buy the homes too and that includes new and resale. For normal buyers(not investors) interest rates are at an all time low and now with the tax credit for 1st time buyers or even for buyers that have not bought a home in the past three years there is some good tax relief. To get all of the up to minute information on that credit please go to http://www.federalhousingtaxcredit.com to get the correct information.
Why wait for prices and interest rates to go up again. El Paso is going to boom again, not only with the Base but with the 4 year medical school that will start its first class this August, the new Children's Hospital being built and the $154 million expansion of the county hospital. All these mean more jobs and more houses being sold so ultimately prices will go up again.
Please feel free to give me a call if you have any questions. My office is 915-584-5430 and ask for Patti Olivas
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