El Paso, TX · Member since 2015 · 33 posts · 9 votes
Hello all, I come today wanting to discuss the strategies and mindset in investing in a price stagnate and almost slightly depreciating market. I attached a few snap shots of a zillow price trend, I know it is zillow and not the most real able to use. In the El Paso area are population is increasing however it is due to births and immigration, migration out of the city is very high for high wage jobs.
I am considering investing in this area beyond my primary home and these graphs are alarming, on one hand it spells opportunity for a lower price but other hand not much opportunity for investing if this continues.
Investor · El Paso, TX · Member since 2015 · 14 posts · 8 votes
10y
in my experience here in El Paso, single family homes in stable neighborhoods can appreciate 2 to 4 percent. Multi family probably less, but I am still learning that. It's a slow and steady economy. Need to find deals carefully that can produce immediate cash flow, not buying for appreciation
Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
10y
@Account Closed
I personally would not hedge my bets on a Zillow graph. They were terribly inaccurate in their home prices 4 years ago, and now they are getting better.
In my area that means..... my duplex used to be worth $320,000 according to Zillow, however I paid 70k for it. Now it says it's worth 140k. CMA says it's worth 115k...
According to Zillow we have had major depreciation in my area. However that is not true... It's just not worth planning your life around. In my opinion.