Archives for February 2021

Representative Todd Hunter Questions Grid Operators for Accountability

February 26, 2021 By

Press Release Sent Out on Behalf of State Representative Todd Hunter February 18, 2021

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Filed Under: Todd Hunter

Padre Island Housing Report January 2021

February 20, 2021 By

Market is still super hot as we head into 2021!
Low inventory, bidding wars, and with continued low interest rates this looks to be another stellar year for home buyers, investors and sellers alike!

Days on the market for sale has decreased to an average of 69 days on the market. 29.3% of all the sales in November were priced between $200,000 – $299,999. The market is certainly remaining strong and it’s a great time to find that dream home you have been waiting for or cash out that equity. We are here to serve all your real estate needs.

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 January 2021 Data (Click Pic below for Larger Image)

 


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Filed Under: Corpus Christ Real Estate Data, Mortgages, North Padre Island, Real Time MLS, realtors

Did You Know How Much Mortgage Rates Can Help You?

February 9, 2021 By

When you look at interest rates there are so many advantages right now, let us share with you what Texas Real Estate is showing right now. Average U.S. mortgage rates started 2021 near historic lows and have hovered in that vicinity through January. That news has reached and encouraged buyers and sellers alike,this can seriously benefit your bottom line can provide valuable context for a homebuying decision.

The average rate for a 30-year fixed-rate mortgage was 2.77% as of January 21, according to Freddie Mac. The average was 3.62% in January 2020 and 4.46% in January 2019,  85 basis points and 169 basis points higher, respectively than the current rate. A buyer who purchases a $300,000 home at the average rate today would save just over $100,000 during the mortgage term compared to purchasing the same home two years ago—and the monthly payment would be almost $200 less.

Limited housing supply and low mortgage rates have contributed to increased competition and home prices, but the cost of borrowing money for a home is currently so low that buyers may be able to afford more than they would have one or two years ago.

Monthly mortgage rate averages stretching back to 1971 are available in MarketViewer (texasrealestate.com login required), the powerful data and market statistics tool available exclusively to Texas REALTORS® members. What a significant market advantage this is creating for all parties!

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi, Mortgages, New Homes Padre Island, property taxes, realtors