PADRE ISLES PROPERTY OWNERS ASSOCIATION – DID YOU KNOW?

As a Real Estate Agent, I am commonly being asked questions regarding the Island’s POA. Whether you are new to the Island or have lived here many years, I hope to provide some clarity and possibly unknown information to those who may be wondering…what are they all about.

The POA oversees 26 subdivisions, with the exception of Packery Channel (who doesn’t have one), and Cane Harbor (who has their own). All but three subdivisions (Seapines, Section A and Section B) that DO belong to the POA pay the new fees (that aren’t really new anymore). Back in 2007, they changed. Annual POA fees are calculated by the size of the lot itself. Prior to 2007, the fees were .1 cent a square foot for an interior/water access lot, and .2 cents a square foot for a waterfront lot. With the exception of the three aforementioned subdivisions that did not approve the fee change, they’ve been .2 cents a square foot for interior/water access lots and .10 cents a square foot for waterfront lots for 10 years now. These annual fees cover the following: Maintaining the medians at Whitecap and Seapines, common area maintenance such as cul de sacs, canal end landscaping, and the 7 public boat ramps around the Island. The reason the cost is higher for a waterfront home is because these fees also cover canal bulkheads.

FACTS:

POA

  • When voting, POA board members need 50% + 1 to pass.
  • They have a seed account in the event of a hurricane in access of $9,000,000, of which they added $300,000 to this past year.
  • They spend roughly $500,000 a year on repairing canal bulkheads.
  • The architectural control committee (ACC) is responsible for reviewing plans for new builds, renovations, fencing, decks/docks, shade structures/any structure really, but NOT landscaping. Currently, the committee has 4 members, but they are seeking a 5th.
  • The ACC is also in charge of “unsightly properties,” defining them, and working on cleaning them up to maintain property values.
  • A gentleman is out on the canals every single day cleaning the debris.
  • On the POA website, you can find requirements for building, setbacks, decking depths, etc. for each and every subdivision.
  • The POA has three notaries.
  • The POA has a swapping library.
  • Approximately 5,300 residents are within the association, making PIPOA the largest HOA in Texas and possibly the United States.

ISLAND STATS

  • Available lots left:

629 interior

148 waterfront

87 multi-family

277 commercial

  • The population on the Island is approximately 13,000, compared to roughly 330,000 in Corpus Christi.
  • Of all crime committed in Corpus, only 2% of it comes from the Island, and 60% of that is “victim assisted,” meaning garages are left open, items in boats aren’t put away, etc.
  • 525 children are enrolled in the Island charter school.
  • All parks on the Island are actually owned by the city.
  • Water depths: 18 inches – 2 feet near the bulkheads, and roughly 6 feet in the center of the canals.
  • It is a NO WAKE ZONE until you get to the ski canals or the Laguna Madre.

ISLAND STICKER

  • Often referred to as the “vanity sticker” as Island residents are proud to show where they live, the sticker allows residents to park at the boat ramps.
  • Common misconception: the sticker DOES NOT allow you back on the Island in the event of an evacuation. Sticker or not, you’ll only be allowed back on with two forms of ID showing your Island address AND utilities have to be back on before anyone is allowed access.

 

 

Padre Island Planned Marina Development

Details of Planned Island Development
Restaurants, live music venue, retail, residential, marina under design
By Dale Rankin, Island Moon Newspaper
Island developer Paul Schexnailder spoke to the Island Strategic Action Committee on Tuesday and filled in details of his plans for Island development on the 104 acre site around Lake Padre including a Hilton Hotel, multi-family and single-family residential, a marine, and a restaurant and live music venue developed by Lulu properties which is owned by the Lucy Buffett, the sister of musician Jimmy Buffett.

The largest part of the current phase of development is on the 104 acres on the Lake Padre side of SPID where in recent months Schexnailder has moved, “almost one million acres of sand and created 10,000 feet of new bulkheads.” Those plans include:
· A 220 room Hilton Hotel including retail space and meeting facilities just north of the canal leading to the planned Park Road 22/SPID Water Exchange Bridge.
“That facility is currently under design,” Schexnailder said. “When the design is done we will permit the road to it and the utilities.

· Lulu’s campus, which will include a seafood restaurant, live music year round operated by Lulu’s properties, which is owned by Lucy Buffett, the sister of musician Jimmy Buffett. The company currently has similar facilities in Gulf Shores, Alabama; Destin, Florida; and a new development in Myrtle Beach, South Carolina set to open in the spring of 2018.
“This facility will be able to handle the biggest fishing tournaments on the Gulf Coast,” Schexnailder said. “The company is currently designing its new facility for Myrtle Beach that will open early next year and that plan will look like the one we will build here.”
It will also include a family oriented ropes course, a sand playground, children’s play area, and various other entertainment features, and a cluster of retail shops, Schexnailder said.

· A boat fueling station and boat supply shop located off an entrance from State Highway 361.
A Multi-family housing development just south of the canal leading to the Water Exchange Bridge which include townhouses.
· A marina located on the north end of Lake Padre with entrance from State Highway 361 will include a ship’s store and restaurant, separate from the Lulu’s operation.
· Residential development on the north end of Lake Padre near the entrance to Packery Channel.
“These will be high-end, residences with a view right down Packery Channel,” Schexnailder said. There will be 80-90 lots and a private marina.”

· Barefoot Dunes residential development along the beach south of Whitecap Boulevard.
“This will be a residential development much like Cinnamon Shore in Port Aransas,” he said.
On the west side of SPID, around the Schlitterbahn waterpark, the plans include:
· Island Walk Village and townhomes connected to the Lake Padre development by a canal leading under the Water Exchange Bridge. It will also include retail space.
· Completion of the 1600-foot long Beach Walk canal which will tie both sides of the development together through the Water Exchange Bridge.
Schexnailder also addressed the long-term prospects for development on The Island. He said that recently several potential hotel developers have been turned down by lenders who believe that the local hotel market is overbuilt.
“Our problem is not an overbuilt market,” he said. “Our problem is that there is not enough for people to do when they get here.”
He said that the Florida panhandle which includes 85 miles of continual development is served by 26 million people in six surrounding states.
“We have that many people in Texas alone,” he said. “We are in an undersupplied situation, not an oversupplied one.”
He said there are currently about 11,000 hotel rooms in Corpus Christi and to serve ten percent of the market requires an additional 1100 rooms on The Island.
“With Island development we can increase the number of people coming to this area by at least ten percent so we will not be drawing from the current visitor base but adding to it.” He also addressed questions about whether he will complete the canal and bulkhead work on the west side of SPID.
“Whether or not there is a Water Exchange Bridge I will build canals to both sides of the site,” Schexnailder said. “If I don’t the Army Corps of Engineers will take away the permit for the whole site.”
Currently the canals on both side of the proposed bridge site are in place but about 300 feet of the canal on the west side of the roadway still needs to be excavated in order to connect the new canal to the existing Island canal system. An agreement to facilitate that final stage of the work is currently under negotiations between the city and developers.

Barefoot Mardi Gras 2017

We are proud to be a significant sponsor of Barefoot Mardi Gras for the 5th Year in a row!!

Barefoot Mardi Gras
February 24 – 26, 2017
Padre Island, Texas

Add a little cayenne to your weekend & leave the shoes at home!

The Barefoot Mardi Gras returns on February 25, 2017 for a 8th year in a row on Padre Island raising money for Big Brothers Big Sisters and now the Island Foundation Schools.

A Family Parade takes place along the beach off Park Road 22 between Whitecap Blvd and Bob Hall Pier. Parade starts at 11am. The Parade Judges Float will open the parade followed a few minutes later by color guard and Mardi Gras themed floats in different divisions like Float, Jeep and Golf Cart. Many colorful characters enter the parade making it a unique activity for friends and family.

New this year is the Barefoot Mardi Gras Festival, a fun filled family event with Cajun music, food, drink, displays, exhibits, artists, children’s area, children’s stage and more! Admission is $5 with Kids 8 years old and younger FREE!

An adult-themed Party, The King & Queens Ball, will let the good times roll on the evening of the 25th from 7pm – 11pm at the Veranda Restaurant & Bar at Schlitterbahn. Miss Neesie and the Earfood Orchestra will perform and a special menu of Cajun style food will be served. Signature Barefoot Mardi Gras drinks will also be available. Guests are encouraged to wear costumes. Dancing and a live video stream from Bourbon Street in New Orleans will be part of the merriment. Attendees must be 21 years old and above. Tickets are $30 and available at various locations.

Events:

Barefoot Mardi Gras Parade

February 25, 2017
Begins at 11:00 am

Floats and fun for the whole family! The parade starts at Whitecap Beach and runs along Padre Island to the Briscoe King Pavilion near Bob Hall Pier.

2017 Barefoot Parade Registration & Rules

View the parade route map

Barefoot Mardi Gras Festival

February 25, 2017
11:00 am – 5:00 pm

Cajun Music, food & fun for all ages! The festival is located at the Briscoe King Pavillion in Bali Park on Padre Island and features live music, artists, car displays, exhibitors, a children’s area, food, drink and more!
Admission is $5.00 paid at the door. Cash Only.

King & Queens Ball

February 25, 2017
7:00 pm – 12:00 am

Patrons must be 21 years of age or older to attend. The ball is located at the Veranda Restaurant & Bar inside the Schlitterbahn Waterpark on Padre Island. Includes a cajun style dinner and dancing to the live New Orleans style music from Miss Nessie & the Ear Food Orchestra. Costumes encouraged!
Tickets are $25 pre-sale and $35 at the door. Tickets are available at Padres Island Properties Owners Association and Schlitterbahn at the Veranda Restaurant.

Kick Off Party
February 7, 2017
Begins at 5:30 pm

The 2017 Barefoot Mardi Gras Kick Off Party will be at Doc’s Seafood & Steak Restaurant at 13309 S Padre Island Dr, Corpus Christi, TX 78418.
Includes food, music and a silent auction to benefit Big Brothers Big Sisters and the Island Foundation Schools. Admission: $8.

Fat Friday Party
February 17, 2017
Begins at 6:00 pm

The 2017 Fat Friday Party will be at the Boathouse Bar & Grill at 15241 Leeward Drive, Corpus Christi, TX 78418.
Includes food, band and a live auction to benefit Big Brothers Big Sisters and the Island Foundation Schools. Admission $5.00. Reserve a table in advance for up to (4) four people for $30.00.

Our Cause:

The event was founded as a fundraiser for Big Brothers Big Sisters by Denise and Duane Ebert and has grown into a signature event for Padre Island. The Eberts asked the Padre Island Business Association to take on the management of the event and the two groups worked together in 2015.

Added into the mix by 2016 was an Island charity that will also serve as a beneficiary, The Island Foundation (Seashore Charter Schools).  EM Marketing Company located on Padre Island, along with the Barefoot Mardi Gras Board of Directors, Committee Chairs, numerous Committee Members and volunteers will all work together on producing the events.

Buy T-Shirts:

Exclusive 2017 Barefoot Mardi Gras T-shirts will be available starting on Tuesday, February 7 at the Kick Off Party at Doc’s. They will also be available on Friday, February 17 at the Fat Friday Party at the Boathouse. Available at participating Island businesses up to February 25 and then during the parade and festival.

Further Information:

Barefoot Mardi Gras Information:
barefootmardigras@yahoo.com

Padre Island Business Association:
info@padrebusiness.org

Exerpted from BarefootMardiGras.com

 

Coastline Properties Voted Business of the Year

Seasons Greeting Friends & Colleagues!

Over the years it has been our pleasure to serve many clients in all different facets of Real Estate.  We have given our best whether it was representing a buyer, or seller.  Our property management division has been a very important part of our business for the past decade and we have brought many owners and tenants together to create a great working experience while maintaining all properties with excellence.  Coastline Properties has supported many great charitable causes over the years, and we do it because we love our community!

We strive to give our best in everything we do, not because we are required to…but because we know that relationships are the most important part of our business.  We like to often say “Amateurs focus on sales, Pros focus on relationships”.

We are truly grateful & honored to receive the award from the Padre Island Business Association as “Business of the Year”.  This award has come as a great surprise to the team, and we feel elated to work with so many Padre Island business owners and citizens.  We are thrilled to see how many more new faces and lives we can touch this New Year and want you to know our door is always open if we can ever help you in anyway this coming year.  We are much more than Real Estate agents, Coastline Properties is here to make an impact on our community and improve the lives of the people living here and our future residents as well.

Have a wonderful holiday season…Cheers to 2017!

All our best…. Coastline Properties Team

coastline-propertiesteam2016-a

 

Meagan Furey – voted Citizen of the Year

We are thrilled to announce our very own Meagan Furey has been voted “Citizen of the Year” by the Padre Island Business Association. This is a very prestigious award and we feel it could not have gone to a more genuine, hard working community focused individual.  Congratulations Meagan …We are so proud of you for 2016 PIBA Citizen of the Year Award.  You inspire us all, thank you for all your dedication for making our little slice of paradise an amazing place to work and play! ~ Coastline Properties Team

meagan-furey

Paddle For Parkinson’s Sept. 3, 2016

We are thrilled to once again be a sponsor for the “Paddle for Parkinson’s – Catch the Cure” Races here on North Padre Island Saturday, September 3 2016.  This is our 3rd year sponsoring this event and it is sure to be a great day for all participants and attendees. Last year many of our realtors & family members placed either first or second in several events particularly in the “Kayak Competition”.  Come out for a great day and participate and give to such a great cause!

GO TO their website at www.CatchtheCure.org
 

CCPD launches Summer Crime Initiative

KRISTV.com | Continuous News Coverage | Corpus Christi

Unfortunately, as The temperature goes up, so does crime. That’s why The Corpus Christi Police Department unveiled their plans to fight crime.

The difference between The Summer Initiative, compared to others is, what parts of town officers will be focusing in on. With each initiative, CCPD crime analysts determine where The “hot spots” are at different times of The year. During The Spring Break initiative, beach goers will notice more law enforcement on North Padre Island, so they’ll drive along The beaches and visit bars, focusing on underage drinking.

During The Holiday initiative, implemented at The end-of-The-year, Police presence is focused in The parking lots of major department stores but The Summer Initiative, which lasts longer than other initiatives, will bring more officers to The Downtown and Uptown area.

The biggest problem in The Downtown and Uptown area? Synthetic marijuana.

Assistant Chief Mark Gutierrez said, “Not only are we targeting The users, but we’re also targeting their dealers and that’s part of what our Narcotics Unit will be doing. They’ll be working to take The dealers off The streets.”

Synthetic marijuana isn’t The only thing they’ll be looking for. Police will also keep an eye out for minors breaking curfews or underage drinking and distracted drivers.

Commander David Blackmon said, “We’ll be out there in unmarked units actively enforcing and frankly, making examples of these people that are just blatantly putting other people in danger.”

This is The 5th year for The Summer Crime Initiative. The first day of Summer (June 20th) kicks off The first day of CCPD’s Summer Crime Initiative and ends after Labor Day weekend.

Dine Island

dineisland

Here on the Island, we all speak one common language, and that is FOOD! It’s something that since the beginning of time has brought people together – we have holidays for food, special rooms in our home for making food and eating food, and food is a very universal topic of conversation.

For those of you who are familiar (or, rather, unfamiliar) with Dine Downtown, this event, hosted by Marina Arts, went on from January 18th-31st. It featured some of Corpus Christi’s best restaurants who were able to offer a three course value-priced menu. Residents bought tickets, dined, had a wonderful time, and were able to check out local eateries they may not have been to prior.

It was such a huge success, that Island resident, Debbie Noble, is bringing this concept right to our front doors! But her model is slightly different.

Sponsored by the Padre Island Business Association and the Padre Island Moon, Noble is bringing us together to break bread. This is the first restaurant-type event the Island has ever seen. Restaurants all over the Island have signed up to offer unique three-course dining experience at value price. This does not include beverages, tips and taxes.

The idea is to get both Island residents to try the local fare they haven’t yet made it out to, and to also encourage non islanders from all over the Coastal Bend to come see how special our restaurants are!

“We are so excited to show off our great Island restaurants to the rest of the city and give people a reason to come OTB,” Noble exclaims!

Currently, participating restaurants include: Veranda, Costa Sur, Boathouse, Angry Marlin, Padre Pizzeria, Island Time Sushi, JB’s German Bakery, A La Mode Gelateria, Mikel Mays, Scuttlebutts, Surfside Sandwich, Texas Mesquite BBQ, Black Sheep Bistro, Dragonfly, and Docs. Many will likely offer drink specials or signature drinks for the meal.

What’s best? Every meal that is sold, the participating restaurant gives $1 that goes toward the Corpus Christi Food Bank. Padre Pizzeria is so excited that they are donating $2 for every meal! According to the Food Bank, every dollar allows them to provide 7 meals. Talk about a delicious event for a worthy cause.

Coastline Properties has also graciously offered to match the money from the restaurant that does the most dine island meals. “Cheri Sperling is an instrumental member of the community and wanted to get involved as well,” Noble says.

Mark your calendars, and get ready for two weeks of marathon meals! The hope is to make this an annual event, so mangia!

 

North Padre Island Canal Construction Underway

KiiiTV.com South Texas, Corpus Christi, Coastal Bend

KIIITv has recently reported on all the dirt moving around on the east side of Park Road 22. If you live in the area you have no doubt noticed all the heavy equipment moving sand on the Gulf side of Park Road 22. It is all connected to the Riverwalk-style development that is soon to be going up there and the planned bridge over Park Road 22.  Lots of excitement Developing here on North Padre Island, as the “Upper Padre” Development project is well underway.

CC voters face critical sales tax vote in November

KRISTV.com | Continuous News Coverage | Corpus Christi
CORPUS CHRISTI –

Plenty of issues will be in voters’ hands come November, including a pivotal decision on how to spend sales tax revenue.

Depending on the vote, a powerful city board that spends your money, may not exist next year.

An eighth of every cent you pay in sales tax funds the city’s Type A Board, which controls the Type A Fund.

We’re talking millions of dollars a year controlled by five people.

The board spends most of it on economic development. They also spend money on seawall repairs and the American Bank Center.

CLICK HERE: Projects funded by Type A Board

The board (fund) is up for renewal this year, and it’s up to the voters.

Jerry Sansing is president of the Corpus Christi Taxpayers Association. He plans on voting against it.

“I’ve seen too much money go down the drain. You know, we can’t fix streets. We can’t do this. We can’t do that, but we can certainly tax for everything under the sun,” he says.

Sansing would rather the city give that money back to the people, or spend it, in part, to cut down palm trees off Airline. The ones right by the Gulfway Shopping Center.

Sansing says they violate the Americans with Disabilities Act because they take up too much room on the sidewalk, and make it almost impossible for people in wheelchairs to get by.

But Type A Board member Bart Braselton points out the board’s numerous accomplishments, like landing Schlitterbahn with a $5 million deal in incentives.

“It competes with other cities, and when you know, when you’re having somebody that’s bringing say, anywhere from 500 to 1,000 new jobs to your city, the return on investment is incredible,” Braselton says.

Sansing says projects like Schlitterbahn don’t need the money.

Braselton points out other things the Type A Board has helped fund, like the Engineering Department at Texas A&M Corpus Christi, or the truck driving program at Del Mar College.

If residents vote to get rid of the board, it’ll be disbanded after any remaining money is spent.

If that happens, it’ll likely be up to the city council to decide how to re-allocate that portion of sales tax revenue every year.  Via KrisTv.com

6 Smart Reasons to Buy a Home in 2016

2016

Is it really 2016 already?  For those of you who happen to be planning on buying a home in the new year—or even just trying to—there’s a whole lot to celebrate. Why? A variety of financial vectors have dovetailed to make this the perfect storm for home buyers to get out there and make an (winning) offer. Here are six home-buying reasons to be thankful while ringing in the new year:

Reason No. 1: Interest rates are still at record lows

Even though they may creep up at any moment, it’s nonetheless a fact that interest rates on home loans are at historic lows, with a 30-year fixed-rate home loan still hovering around 4%.

“Remember 18.5% in the ’80s?” asks Tom Postilio, a real estate broker with Douglas Elliman Real Estate and a star of HGTV’s “Selling New York.”“It is likely that we’ll never see interest rates this low again. So while prices are high in some markets, the savings in interest payments could easily amount to hundreds of thousands of dollars over the life of the mortgage.”

Reason No. 2: Rents have skyrocketed

Another reason home buyers are lucky is that rents are going up, up, up! (This, on the other hand, is a reason not to be thankful if you’re a renter.) In fact, rents outpaced home values in 20 of the 35 biggest housing markets in 2015. What’s more, according to the2015 Rent.com Rental Market Report, 88% of property managers raised their rent in the past 12 months, and an 8% hike is predicted for 2016.

“In most metropolitan cities, monthly rent is comparable to that of a monthly mortgage payment, sometimes more,” says Heather Garriock, mortgage agent for The Mortgage Group. “Doesn’t it make more sense to put those monthly chunks of money into your own appreciating asset rather than handing it over to your landlord and saying goodbye to it forever?”

Reason No. 3: Home prices are stabilizing

For the first time in years, prices that have been climbing steadily upward are stabilizing, restoring a level playing field that helps buyers drive a harder bargain with sellers, even in heated markets.

“Local markets vary, but generally we are experiencing a cooling period,” says Postilio. “At this moment, buyers have the opportunity to capitalize on this.”

Reason No. 4: Down payments don’t need to break the bank

Probably the biggest obstacle that prevents renters from becoming homeowners is pulling together a down payment. But today, that chunk of change can be smaller, thanks to a variety of programs to help home buyers. For instance, the new Fannie Mae and Freddie Mac Home Possible Advantage Program allows for a 3% down payment for credit scores as low as 620.

Reason No. 5: Mortgage insurance is a deal, too

If you do decide to put less than 20% down on a home, you are then required to have mortgage insurance (basically in case you default). A workaround to handle this, however, is to take out a loan from the Federal Housing Administration—a government mortgage insurer that backs loans with down payments as low as 3.5% and credit scores as low as 580. The fees are way down from 1.35% to 0.85% of the mortgage balance, meaning your monthly mortgage total will be significantly lower if you fund it this way. In fact, the FHA predicts this 37% annual premium cut will bring 250,000 first-time buyers into the market. Why not be one of them?

Reason No. 6: You’ll reap major tax breaks

Please, Mr. Postman Tax laws continue to favor homeowners, so you’re not just buying a place to live—you’re getting a tax break! The biggest one is that unless your home loan is more than $1 million, you can deduct all the monthly interest you are paying on that loan. Homeowners may also deduct certain home-related expenses and home property taxes.

via realtor.com

5 Real Estate Trends That Will Dominate 2016

real-estate-2016

This year may have marked the best for housing since 2007, but the market will likely get even rosier in 2016, according to a recent real estate forecast by realtor.com®. One of the main drivers behind the brighter 2016 is the projection that employment will continue to grow, which will add to consumers’ wallets and allow them to purchase their first home or upgrade to a new one.  Realtor.com® highlights the following housing predictions for 2016:

  1. ‘Normal’ is coming.

Expect a healthy growth in home sales and prices – at a slower pace than in 2015. “This slowdown is not an indication of a problem—it’s just a return to normalcy,” writes Jonathan Smoke, realtor.com®’s chief economist. “We’ve lived through 15 years of truly abnormal trends, and after working off the devastating effects of the housing bust, we’re finally seeing signs of more normal conditions.” New construction and distressed sales are expected to return to more historical levels, and home prices are expected to follow at “more normal rates consistent with a more balanced market.”

  1. Generational buying trends shape up.

Young adults’ presence on the housing market has been largely predicted for years, but 2016 may finally be the year they make a move in a larger way. Millennials represented nearly 2 billion sales in 2015 – one-third of home buyers. They are expected to continue to be a major buying pool in 2016 with the majority of buyers between ages 25 and 34 expected to be first-time home buyers next year. But two other generations will also have a big presence in 2016: financially recovering GenXers and older baby boomers who are entering retirement, realtor.com® notes. “Since most of these people are already homeowners, they’ll play a double role, boosting the market as both sellers and buyers,” Smoke notes. “Gen Xers are in their prime earning years and thus able to relocate to better neighborhoods for their families. Older boomers are approaching (or already in) retirement and seeking to downsize and lock in a lower cost of living.”

  1. New-home construction focuses more on affordability.

Builders have been faced with higher land costs, limited labor, and concerns about the demand of the entry-level market. As such, they have shifted to constructing more higher-priced homes, which has caused new-home prices to rise significantly faster than existing-home prices. In 2016, they likely will shift to more affordable product to cater to the entry-level buyers. “We are already seeing a decline in new-home prices for new contracts signed this fall,” notes Smoke. “In addition, credit access is improving enough to make the first-time buyer segment more attractive to builders.”

  1. Higher mortgage rates.

Mortgage rates will likely be volatile in 2016. But the recent move by the Federal Reserve to guide interest rates higher should push mortgage rates higher in the new year than the historical lows they have been at for years. The 30-year fixed-rate mortgage will likely end 2016 about 60 basis points higher than today’s level. “That level of increase is manageable, as consumers will have multiple tactics to mitigate some of that increase,” Smoke says. “However, higher rates will drive monthly payments higher, and, along with that, debt-to-income ratios will also go higher.” The markets with the highest home prices will see the effects from the higher rates the most.

  1. Rents to go up even higher.

Rental costs are skyrocketing, and the costs are likely to only go up in the new year. More than 85 percent of the nation’s markets have rents that exceed 30 percent of the income of renting households. “Rents are accelerating at a more rapid pace than home prices, which are moderating,” Smoke says. “Because of this, it is more affordable to buy in more than three-quarters of the U.S. However, for the majority of renting households, buying is not a near-term option due to poor household credit scores, limited savings, and lack of documentable stable income of the kind necessary to qualify for a mortgage today.”

Source: “The 5 Real Estate Trends That Will Shape 2016,” realtor.com® (Dec. 16, 2015)

TASTE OF THE ISLAND 2015

tasteoftheisland

Come to eat. Come to see and be seen. Combine the two and you’ll be seen stuffing your face. But it’s completely acceptable when you’re not alone! Over 1000 attendees are expected to be doing the same thing at the 28th annual Taste of the Island, where some of our best restaurant’s fare is being featured at the event on October 12st, beginning at 6 pm, at the most beautiful Port Royal on Mustang Island.

Don’t get out much? Now is your excuse to take a tasty tour of many of the restaurants perhaps you’ve always wanted to try but haven’t had the chance to! Aside from roughly 25 restaurants, there will also be 3 bars (bring your cash!) and live musical entertainment. If you think any of your senses will not be stimulated enough, bring your suit and take a dip in the famously large pool or hot tub (OK, maybe check with staff before hitting the water!).

The party lasts long into the night, as you’ll run into your friends, co-workers, friends of friends, and all the new friends you’ll make! And, if you stick around until the end, there are goodies to win! A silent auction throughout the evening will have roughly 70 items to bid on, then the live and Chinese auctions will proceed. So don’t forget to put your business card into the drawing. Win wine, gift certificates, island trinkets, and lots of other prizes that local businesses have been generous enough to donate will be given out to the lucky winners!

Meagan Furey, Chair for the PIBA Ambassadors, who has been selected to spearhead the volunteer committee, explains that “We expect more people than ever before to come, which means we need more volunteers than ever to help out! It’s going to be an incredible event that just gets bigger and more popular each year.”

As an attendee of the event last year, Tara Gallaspy, Coastline Properties Real Estate Agent, says “It was one of my favorite events of the year. The music was upbeat and fun, there was plenty of seating, and I ran into lots of friends. It’s the perfect venue and a great evening on the beach. Overall, a night to remember!”

Get your tickets a head of time! They are $50.00 a piece, and then it’s up to you to eat your money’s worth! Leaving hungry would simply be disgraceful.

Get Tickets Here >>