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There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU.
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Dan Olivas & Associates
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The real estate market in El Paso, Texas is very unique compared to the rest of the country. Luckily we are not in that bad of a market considering what the rest of the country is going through. Lenders are lending, interest rates are at an all time low, and in alot of cases, sellers are helping the buyers with concessions in order to sell their homes. The El Paso Association of Realtors posted that there were almost 200 more homes sold in November of 2009 and more than 150 for the December time frame. That is not bad for real estate in El Paso, TX. We are real estate professionals in our community and we are dedicated to provding you with the most up to date information possible. Becasue the real estate industry is becoming more sophisticated and changing almost every day, you need professionals who are keeping up with those changes and the team at Dan Olivas and Associates are here to help you. As professional real estate agents in El Paso, TX, your satisfaction is our #1 priority. Our years in the business have provided the experience to assist you in all of your real estate needs. If you are buying, selling, investing in El Paso and the surrounding areas of New Mexico we are here to help you. If you are a military person being transferred to Ft Bliss we are here to offer our services to you and more importantly to thank you from the bottom of our hearts for serving our great country. Our goal is to make your move as easy and as stress free as possible. Buying or selling should be fun and exciting and it is our job to make sure that it is.  --Dan Olivas & Associates
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First Time Buyers >The Seller May Pay
The costs of buying a home may be daunting. For example, you may have finally saved enough for a down payment on your first home, with a little left over to buy the furniture you will need. Then you hear about having to pay closing costs you weren't anticipating, and this may seem like a real setback.
One way to cover such a shortage is to make the sellers an offer that calls for them to credit you for some of the closing costs. As a rule, the sellers may pay a maximum of 3 percent of the sales price if the buyer is putting five percent down. If the buyer is making a down payment of 10 percent or more, the seller can contribute up to 6 percent of the sales price to cover the buyer's closing costs. Some items, such as prepaid taxes and the first month's mortgage payment, must be paid by the buyers. Sellers may also contribute to paying the appraisal, points, title insurance, settlement attorney fees, state or local transfer taxes and similar items.
Keep in mind that if the credit is included in the price of the house, the appraiser will have to justify the amount, based on sales prices of similar homes in the neighborhood.
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| Q |
What famous person said this? "Real Estate is the best investment in the world because it is the only thing they're not making anymore!"
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| A |
Will Rogers, who began his career as a rope-throwing cowboy and later became a famous stage and film star. |
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