Archives for January 2023

COUNTY COMMISSIONERS PASS RESOLUTION TO SUPPORT A 2nd BRIDGE TO PADRE ISLAND

January 24, 2023 By

The commissioners of Nueces County on Wednesday approved a resolution endorsing the building of a second bridge to Padre Island.

The second bridge’s location has not yet been made public.

TxDOT would be required to assist with the enormous project, which Mayor Paulette Guajardo estimated might cost up to $1 billion.

Brent Chesney, the commissioner for Nueces County’s Pct. 4, remarked, “It’s all about TxDOT, right?” “Because TxDOT has funding for projects, we need to move up the financing list. We need to go on even though we’re probably already behind other areas that require second causeways.”

The decision made on Wednesday is simply the beginning of the process, though.

Article Excerpt continued on KIIITV >>>>

 

Filed Under: Barefoot Mardi Gras, BeachWalk Development, chamber of commerce, Corpus Christ Real Estate Data, corpus christi city council, Harbor Bridge, Holiday Parties, Hurricane Relief, Mortgages, mustang island, Packery Channel

PADRE ISLAND HOUSING REPORT – DECEMBER 2022

January 15, 2023 By

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for December 2022. Our active listing median prices have slightly dipped to $353,250 this past month which is a fall of 3.8% compared to last December at this time!
CCAR continues to show us the data that shows active listings rising 36 % with a total of 136 properties this past month while inventory Has a slight decline to 2.6 compared to 1.7 last year during the month of December.

Days on the market for sale have slightly fallen to an average of 50 days on the market and the highest category for sales with 32.3% of all the sales was priced between $300,000 – $399,999. The market is holding steady which is normal after the Holidays. CPI Data has shown inflation is still lowering, and the fed still seems committed to getting inflation down to 2% and continue to signal more rate hikes to come.

Coastline Properties has been weathering the conditions of different markets since 1995. Prices are falling as more properties enter the market.A survey by Homes USA shows that new home prices have decreased recently.

The adjustment occurs in the midst of a market slump brought on by increased mortgage rates and the earlier increase in prices. Builders are therefore providing greater incentives to purchasers in an effort to enhance sales as inventory rises and new homes take longer to sell.

Real estate company HomesUSA, based in Dallas, analyzes data from multiple listing services and three-month averages for sales, pricing, active listings, and other metrics. This previous week saw a low in mortgage application volume as high mortgage rates continued to harm the housing market.

In 2021, new homes weren’t being added to the MLS since they were selling so quickly. The demand for homes was at its highest and most intense from spring 2020 through spring 2022. The patterns we are currently observing indicate that the local slowdown in new house sales might not just be a seasonal blip. Construction is being curtailed by builders as the market weakens. The houses you can currently see were started when the market was different. You can observe the results of those who entered into contracts only to have to cancel them when interest rates increased.

Soon, the spring housing market will begin, and we’ll probably want to know what to anticipate. The home market in 2023 might feel more like a nobody’s market after several years of a clear sellers’ market. More buyer advantages and slower home sales are something we anticipate. On the economic front, supply chain problems have started to get better and should keep getting better in the coming year. As interest rates and inflation reduce disposable income, we can anticipate the following five to six months to be sluggish. But the flooring and home improvement sectors will experience tremendous growth over the next five to six years.

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 December 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-november-2022

Filed Under: buying a home, Corpus Christ Real Estate Data, Corpus Christi Foreclosures, corpus christi jobs, home maintenance, Investment Property, Mortgages, mustang island, New Homes Padre Island, Padre Island Business Association, padre island events, selling a home, Water Exchange Bridge

BBB Tip: Buying a car online

January 6, 2023 By

The ability to purchase goods and services online has permanently changed how countless industries conduct business.
The days of high-pressure sales tactics and price haggling are
largely in the past, as online marketplaces allow buyers to comparatively shop for the best
deal on the product they want across hundreds or thousands of sellers. Particularly when
purchasing expensive items, such as automobiles, online marketplaces allow buyers to
carefully evaluate advertised prices and compare them to other dealers.
However, interacting with an online marketplace does come with inherent risks, especially
when dealing with a private seller. BBB Scam Tracker receives multiple reports of
misrepresentative or fraudulent car purchasing scams every year, with often disastrous
results for the victim.

Fort Worth: Earlier in 2022, one Arlington-area resident reported encountering an online
seller who claimed to be deployed overseas and was selling their vehicle for $10,000. The
seller stated the vehicle would be shipped through a shipping company that did not exist,
and the address they provided was for a completely different company. When checking the
website of the shipping company, it claimed the business has been in operation since 1997,
but the website was registered in 2021 to a different company. With this information, the
buyer walked away from the transaction and reported their experience to Better Business
Bureau.

Austin/Waco/Bryan: In October, one active-duty military member stationed at Fort Hood
reported encountering an online seller who claimed their husband had passed away and was
selling his truck for $24,500. All transactions for the purchase would go through a provided
shipping company. The first red flags began to appear when the company would not provide
any requested information such as VIN numbers, accident report, owner history and would
only communicate via email and wire transfers. Suspicions raised, the buyer stated they,
“called the office number attached to the building’s location to find out they have no clue
who the company is and appreciate the information about a false company using their
location.”

Permian Basin: In October, one active-duty military member stationed at a Texas base
reported encountering an online seller who claimed their husband had passed away and was
selling his truck for $24,500. All transactions for the purchase would go through a provided
shipping company. The first red flags began to appear when the company would not provide
any requested information such as VIN numbers, accident report, owner history and would
only communicate via email and wire transfers. Suspicions raised, the buyer stated they,
“called the office number attached to the building’s location to find out they have no clue
who the company is and appreciate the information about a false company using their
location.”

San Antonio/Corpus Christi: In June, one South Texas resident found an online seller
advertising a 4X4 Jeep for $1,200 which claimed the vehicle was in McAllen, Texas. When
the buyer said they would travel to pick up the Jeep and pay the money, the seller suddenly
changed the story and said it was in Missouri. To purchase, the buyer was directed to
deposit the money in an unfamiliar account and the seller stated the vehicle had previously
been owned by a family member that had sadly passed away. Unfortunately, emotional
appeals like this are an all-too-common tactic of scammers.

If you are considering buying a car online, BBB recommends the following tips to
help you avoid getting scammed and get the best deal possible:
Set a budget. Before you set out to find the perfect car, it is important to establish a
budget. You will also want to factor in monthly expenses that come with owning a vehicle,
including insurance payments, fuel, parking, and routine maintenance and repairs. A clearly
defined budget will make choosing a vehicle, negotiating with a dealer, and getting a loan
much easier.

Do thorough research. Once you have narrowed your search, compare models you are
interested in keeping a close eye on safety ratings, owner reviews, and warranties. Visit
manufacturer websites to see detailed images of each car and research MPG statistics,
interior options, cargo space, towing capacity, and more. The additional time you spend on
these initial steps, the more comfortable you will feel when making a purchase.
Shop for a deal. These may include cash-back deals, rebates, low-interest financing
options, or incentives for recent graduates, military veterans, Uber and Lyft drivers, or first
responders. In addition, many dealers are willing to make price cuts on previous year
models or any model that did not sell as well as expected. Purchasing one of these surplus
vehicles can mean extra incentives from the dealer.

Speak with internet sales managers. When you find a car you are interested in, it is
time to get in touch with an internet sales manager. During your initial conversations, focus
on what car you want, whether they have it in stock or can get it, and how much they will
sell it for. If you are considering purchasing a certified pre-owned vehicle, now is the time to
ask for a copy of the vehicle history report.

Test drive the vehicle. You should always take a test drive before you sign the final
paperwork. There is no substitute for seeing a car in person, looking under the hood, sitting
in the driver’s seat, and making sure the engine runs smoothly. To do so, you may need to
travel to the dealer’s place of business. Alternatively, some dealers offer the ability to test
drive upon delivery, and if anything isn’t as expected, you may cancel the sale.
Complete the sale at the dealer or upon delivery.  It is still usually necessary to sign
the final paperwork in person. If you would rather avoid visiting the dealership, ask about
delivery. Some dealers will drop off the car at your home or place of business and allow you
to sign upon delivery.

Avoid online car sales scams
There are plenty of pros to buying a car online, but caution is needed as well. Anytime you
shop online, and especially when making an expensive purchase like a car, you should keep
the following tips in mind:

 Watch out for too good to be true deals. They are most likely a scam. Scammers
often steal consumers’ personal information and money by offering them high-value
goods at highly discounted prices.
 Never wire funds or complete bank-to-bank transactions. Scammers love this
kind of transaction because there is no way to get your money back once completed.
Instead, make legitimate purchases by check or credit card.
 Contact the seller by phone. At some point during your negotiations, speak with
the sales manager on the phone. If they are unusually vague about specific details of
the sale or cannot confirm their location or the vehicle location, it’s most likely a
scam.
 See the car first. Never buy a car without making an in-person inspection and
taking a test drive first.
 Don’t give in to pressure. Scammers often try to pressure you to give up your
personal information or make a down payment before you have time to think about
the purchase. Take your time and consider a deal over before agreeing to anything.
 Don’t trust a seller or buyer who says that eBay, PayPal, Craigslist, or
another online marketplace guarantee the transaction. These sites explicitly
explain they cannot guarantee that people using their services are legitimate.

To learn more, see the BBB tips on buying a new car and buying a used car. You can also
lookup car dealerships at BBB.org to check their business rating and read customer reviews.
Find new car dealers near you and used car dealers near you.

Filed Under: Better Business Bureau, chamber of commerce, Charities, cybersecurity, Holiday Parties, Hurricane Aide, Padre Island Business Association, Scam Alert, spring break