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OT: Richest neighborhoods in El Paso

Willow Bend has two or three PGA players in there I believe.

Median home prices are going up fairly quickly and starting to gain pace, but not there yet, with big metro areas in Texas. Multi family Rental construction is increasing and rents were level for some years but now increasing. Flips go within 30 days (if priced right). Custom homes that couldn't go up fast enough in El Paso prior to the crash of 08 are now up again. Why? Median prices are increasing especially new home sales. BRAC and rich from Ciudad Juarez escaping drug war over the last few years have influenced El Paso commercial and residential economy.
 
For what it's worth, according to the North Texas MLS (Dallas metro area), you can't find a listing below $150,000.
 
FiliUTEP said:
https://www.homesnacks.net/richest-neighborhoods-in-el-paso-128981/

well this article is from 2018. I thought Santa Teresa, NM was the most expensive but i guess thats part of New Mexico.
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Have you been out to Santa Teresa in the past 5 years? Once the country club closed, the values plummeted and every house is up for sale.

The most expensive homes are in the area surrounding El Paso Country Club and Coronado Country Club. Kern/Rim Road area has a bunch of expensive ones too but now that both country clubs have stepped up their game and gone under renovations, the home prices are going up. Old homes that need gutting are going for $110-120/square foot and brand new is $150-200/square foot (Ie: 4,000sf home is $600,000+)
 
utep2step said:
Willow Bend has two or three PGA players in there I believe.

Median home prices are going up fairly quickly and starting to gain pace, but not there yet, with big metro areas in Texas. Multi family Rental construction is increasing and rents were level for some years but now increasing. Flips go within 30 days (if priced right). Custom homes that couldn't go up fast enough in El Paso prior to the crash of 08 are now up again. Why? Median prices are increasing especially new home sales. BRAC and rich from Ciudad Juarez escaping drug war over the last few years have influenced El Paso commercial and residential economy.
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Has Aaron Jones and Khalid bought house in El Paso? I hope they do. I know Khalid bought a nice house in L.A. Hopefully Will Hernandez will also purchase a home In El Paso.
 
WestTx12 said:
Have you been out to Santa Teresa in the past 5 years? Once the country club closed, the values plummeted and every house is up for sale.

The most expensive homes are in the area surrounding El Paso Country Club and Coronado Country Club. Kern/Rim Road area has a bunch of expensive ones too but now that both country clubs have stepped up their game and gone under renovations, the home prices are going up. Old homes that need gutting are going for $110-120/square foot and brand new is $150-200/square foot (Ie: 4,000sf home is $600,000+)
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Ive been to El Paso but just in and out . I havent been to Santa Teresa area in a while.
 
The Santa Teresa Country Club area could be a gold mine for a strong developer, turning that golf course and surrounding land into nice neighborhoods. With it's close proximity to El Paso, people would be willing to build their expensive houses there in a nicely developed neighborhood for the views and low property taxes(especially as El Paso's property taxes keep going higher). There are just a number of issues keeping it from being a slam dunk venture: 1.) Getting the water rights/back taxes is an issue with the golf course bankruptcy. 2.) Sunland Park has had a long lasting law suit where they are trying to take over Santa Teresa. 3.) Santa Teresa residents have to drive through a congested one lane bottle neck on country club road to get to El Paso.
 
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ST is a money pit, many developers have lost their shirt trying to make a go of the place. And now with it's crumbling infrastructure, water quality and street conditions it would cost too much to redevelop. If you had that kind of money you likely would start form scratch elsewhere. Incorperation is likely to be the only savior for homeowners, but the resort side is a dead horse.
 
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Tuscany Ridge, back of Valley Creek south, Crown Rock area off of Rich Beam are some newer high end areas. Vista Hills and Santa Teresa are going to crap. There are some really nice homes in and around EP and Coronado country club. The Willows area is still nice, but old. Kern and Rim is a very nice area with a good mixture of old homes and renovated homes.
 
UTEPDefense said:
The Santa Teresa Country Club area could be a gold mine for a strong developer, turning that golf course and surrounding land into nice neighborhoods. With it's close proximity to El Paso, people would be willing to build their expensive houses there in a nicely developed neighborhood for the views and low property taxes(especially as El Paso's property taxes keep going higher). There are just a number of issues keeping it from being a slam dunk venture: 1.) Getting the water rights/back taxes is an issue with the golf course bankruptcy. 2.) Sunland Park has had a long lasting law suit where they are trying to take over Santa Teresa. 3.) Santa Teresa residents have to drive through a congested one lane bottle neck on country club road to get to El Paso.
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Here ya go: I can not give detailed addresses and info, but here are two 1,700's +/- newly constructed single family residential homes right across both side of the state line, similar quality, amenities, etc., and within the sales range within the low $200k range: *figures rounded

Santa Teresa property tax (PROPOSED): $2,700
El Paso County property tax (PROPOSED): $6,200 (REMEMBER, TEXAS HAS NO INCOME TAX)

Tax rate for NM is 4.9%. x $80,000 (Santa Teresa)income per houshold=$3,920

$3,920 + $2,700 = $6,620

It's all a wash and buyers have caught on to that looking to buy a (new) home in that region.

**This is estimated and sources private and public. I make no guarantee to the accuracy and is estimated and rounded for some figures.
 
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Take in schools (El Paso has open enrollment), retail, commute times; IMO, El Paso has the edge. Then law suits and water rights issues for the golf course, a developer and builder will say "Don't mess with Texas" IMO.
 
These are some good points. The roads and infrastructure of Santa Teresa probably do need too much work before someone will come in and make a large investment. I was reading an article once how some of the citizens fill in pot holes or have hired people on their own to replace street lights.

New Mexico does have this bill(which has a ways to go) which would potentially make college free for New Mexico high school graduates and that could be an added appeal for NM border cities like Santa Teresa/Sunland Park. I also think that retiree's would be interested in a nicely developed Santa Teresa/Sunland Park area, as the state income tax won't impact them much and many retirees are looking for the low property tax area with good weather.

At the end of the day though, there are probably too many hurdles that would need to be cleared in order for that area come back any time soon.
 
El Paso has some very nice and expensive areas. The Tuscany on Bear Ridge is a new gated community with several $ million+ homes. There are some expensive homes on new gated communities along Stanton and near High Ridge. Some of the lots in the Stanton area are selling for over $250K.
I don’t know if you all have noticed the number of exotic cars lately in El Paso. It is no longer uncommon to see Ferrari’s, Maserati’s, Lambo’s, R-R, and Bugatti’s around town. That’s in addition to the many high end Range Rovers, BMWs and Mercedes.
 
Rot said:
El Paso has some very nice and expensive areas. The Tuscany on Bear Ridge is a new gated community with several $ million+ homes. There are some expensive homes on new gated communities along Stanton and near High Ridge. Some of the lots in the Stanton area are selling for over $250K.
I don’t know if you all have noticed the number of exotic cars lately in El Paso. It is no longer uncommon to see Ferrari’s, Maserati’s, Lambo’s, R-R, and Bugatti’s around town. That’s in addition to the many high-end Range Rovers, BMWs and Mercedes.
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Funny you mention that I had this conversation with my wife last night. The other day on my drive home down Mesa, I saw two Ferrari's, a Bentley and Dodge Viper and my drive is only 15 minutes. Range Rover's are extremely common vehicles on the westside so those don't phase me anymore.
 
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This morning I was driving on the west side and saw a black Masserati and a dark blue Rolls. I don’t know what these folks do for a living but some of those cars are worth more than the average home in EP.
 
WestTx12 said:
Funny you mention that I had this conversation with my wife last night. The other day on my drive home down Mesa, I saw two Ferrari's, a Bentley and Dodge Viper and my drive is only 15 minutes. Range Rover's are extremely common vehicles on the westside so those don't phase me anymore.
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Probably cartel money. Although my uncle (el tío rico) used to have a Ferrari and later a Viper (don't know what he has nowadays), so I guess there are a few clean ones around town.
 
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FeralFelidae said:
Probably cartel money. Although my uncle (el tío rico) used to have a Ferrari and later a Viper (don't know what he has nowadays), so I guess there are a few clean ones around town.
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Two rules to follow to judge how the economy is doing:
1. amount of 18wheelers on the freeway and trains you see. (Trade and commerce is doing well)
2. the amount of new and expensive cars. (people are getting paid well)
 
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WestTx12 said:
Two rules to follow to judge how the economy is doing:
1. amount of 18wheelers on the freeway and trains you see. (Trade and commerce is doing well)
2. the amount of new and expensive cars. (people are getting paid well)
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Oookaayyyy. I work in real estate and that's new to me.

Of course when I saw NMSU frat boy "autograph boy" like this I knew this was legit. :p

BTW, there are social sites that post photos of high end cars all over El Paso.
 
Rot said:
El Paso has some very nice and expensive areas. The Tuscany on Bear Ridge is a new gated community with several $ million+ homes. There are some expensive homes on new gated communities along Stanton and near High Ridge. Some of the lots in the Stanton area are selling for over $250K.
I don’t know if you all have noticed the number of exotic cars lately in El Paso. It is no longer uncommon to see Ferrari’s, Maserati’s, Lambo’s, R-R, and Bugatti’s around town. That’s in addition to the many high end Range Rovers, BMWs and Mercedes.
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BTW, BMW has loosened up their lending. What is not reported much is that they are the most repo'd in El Paso.

Porsche opened on the westside. RR on Airways almost two years ago.

I don't say this lightly but our country IS heading to a downturn sooner than expected. Second, EP didn't suffer as bad during the 08-09 crisis but I remember home lending came to a literal stop. Some loan officers called me panicking. However, El Paso was NOT a "bubble market" as compared to other large cities (but REO's did increase). BRAC and the drug war, which forced the Juarez elite to move to El Paso, bouyed the market. EP may not be so lucky next time.
 
FarWestTexas said:
Jesus Christ! What kind of Doctor? And in El Paso!?! Kudos to him!
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Doctor's with degrees from reputable school's get paid 2x or 3x starting salary what big markets pay. If you are young doc coming out of Johns Hopkins and you get an offer to Boston, LA and El Paso, you toss EP
utep2step said:
Oookaayyyy. I work in real estate and that's new to me.

Of course when I saw NMSU frat boy "autograph boy" like this I knew this was legit. :p

BTW, there are social sites that post photos of high end cars all over El Paso.
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I work in real estate too, commercial side. Not sure what being in this industry has to do with the advice I gave.
 
utep2step said:
BTW, BMW has loosened up their lending. What is not reported much is that they are the most repo'd in El Paso.

Porsche opened on the westside. RR on Airways almost two years ago.

I don't say this lightly but our country IS heading to a downturn sooner than expected. Second, EP didn't suffer as bad during the 08-09 crisis but I remember home lending came to a literal stop. Some loan officers called me panicking. However, El Paso was NOT a "bubble market" as compared to other large cities (but REO's did increase). BRAC and the drug war, which forced the Juarez elite to move to El Paso, bouyed the market. EP may not be so lucky next time.
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You should change your username to Negative Nancy.
 
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