Archives for May 2020

Padre Island Housing Report – April 2020

May 21, 2020 By

Sellers Are Holding Eager Buyers Back as State Reopens:

This pandemic doesn’t appear to be spooking some potential homebuyers away. Sporting masks and gloves, they’re beginning to preview homes in person. BUT it is home sellers who may be keeping them back, from what we’re seeing.

We’ve started finding buyers ready, willing, and able, and some sellers have been the ones who have pulled their properties, changed their minds – at this time.

Yes, you can see April new listings plunged through the week of May 2nd. It seems the number of properties on the market had kind of paused.

Many buyers increased their online looking of properties using virtual tools. Good real estate professionals stepped up offerings of 3D and virtual tours online as well as video walkthroughs in real-time to interested buyers. Real estate professionals would visit the properties and walk around the property over a live video chat with their interested buyer.

But, we believe as states start to reopen more so, more homebuyers may be wanting to see those properties in-person. They are willing to take proper steps to wear masks and definitely social distancing. Times are changing folks – and your true professionals are ready for you.

Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!


Padre Island April 2020 Data (Click Pic below for PDF)


padre-island-housing-report-april-2020

Filed Under: buying a home, Corpus Christ Real Estate Data, COVID-19 Virus, Mortgages, realtors, selling a home

TWIA News 2020

May 6, 2020 By

did-you-know-pxbyTWIA NEWS…….

Windstorm Certificates of Compliance (WPI-8’s & WPI-8-Cs) are an important eligibility requirement for TWIA as well as some private insurance companies. The process for coastal property owners to certify completed structural improvements will change next month. The process to certify new and ongoing improvements will not change.

WHAT’S CHANGING?

Beginning June 1, 2020, the windstorm certification process, the process that produces a Certificate of Compliance (WP1-8), will be administered solely by the Texas Department of Insurance (TDI). At that time:

  • TWIA will stop accepting applications for Certificates of Compliance for completed improvements. • May 31, 2020 is the last day TWIA will accept applications for Certificates of Compliance. Paper applications mailed to TWIA must be postmarked on or before that date for them to be processed by TWIA. • TDI will begin issuing Certificates of Compliance for completed improvements. TOI will continue to issue Certificates of Compliance for new and ongoing improvements.

This change and effective date are required by legislation passed in 2019 by the Texas Legislature (Senate Bill 615 and House Bill 1900). HOW WILL THIS BENEFIT PROPERTY OWNERS? TD1 already administers the Windstorm Inspection Program and is a regulatory agency. Consolidating the certification process and TD1 will:

  • Reduce property owner confusion on where to obtain a Certificate of Compliance. • Provide additional oversight to the certification process for completed improvements.

Make all future Certificates of Compliance searchable on the TDI online database. Property owners with a Certificate of Compliance issued by TWIA (WPI-8-C) can contact TWIA for a copy.

WILL TWIA CERTIFICATES OF COMPLIANCE (WPI-8-C) STILL BE VALID AFTER JUNE 1?

Yes. Certificate of Compliance issued by TWIA will remain valid and property owners will not have to recertify those same structures to remain eligible for TWIA insurance, unless they update the structures after being certified.

QUESTIONS?

To learn more, please read these frequently asked questions, available on the TWIA website. One may also visit Changes at TWIA webpage for additional details about this and other legislative changes affecting TWIA.

 

Filed Under: home maintenance, Hurricane Aide, Hurricane Relief, Mortgages, North Padre Island, property taxes, realtors, selling a home, windstorm insurance Tagged With: