Color Pyschology: How they Effect Emotional States!

Have you ever come home to find that your house has been broken into, your husband has canceled your recordings of The Bachelor, and it appears as though your “big bad guard dog” has actually led the robber to the fine china? I truly have “seen red” before. And I bet you have, too.

So how do colors affect human emotion and reaction? Company owners, home decorators, web designers, have all recently been paying more attention to not only what colors to choose, but why to choose them. Color psychology is now known to play a larger role in marketing, design and branding. Perhaps as homeowners, we, too, should choose wisely. The colors you choose for your spaces can actually play a role in your mood and temperament.

Black begs power and authority. You wouldn’t bully the karateka sporting the black belt.

For the home: Choose an accent wall in your home office and paint it black! Own your work space, and make it be known that you’re the boss in there! It will demand dominance.

White symbolizes purity, innocence, and sterility. Wouldn’t it just seem odd to baptize a baby in a red gown? Or to paint the walls of an operating room a dirty tone of split pea soup?

For the home: If you have a case of kitchen OCD, a white kitchen is a necessity. White will make the kitchen appear larger (and it IS the heart of the house, so the bigger, the better!), but the more sterile this room feels, the better. Perhaps your guests don’t want to question whether their food was prepared in a germ breeding ground, as white countertops and cabinets are no hiding place for grease splatters or red wine rings.

Red brings about feelings of passion and rage. Studies also show that it increases circulation, action, and exudes an empowering masculine energy.

For the home: Assuming most households do have at least one man in them, perhaps use red as an accent color: Red pillows, a red door, red vases. Does your house have a man cave? Red that room!

Orange has the tendency to elicit increase in energy and optimism. Think of the fruit – it’s bright, sweet, makes you want to do an Irish jig.

For the home: If you have a home gym, this is the PERFECT place for this color. It will likely give you that needed boost an extra shot of espresso may provide…without the calories!

Yellow sometimes enhances concentration, but can lead to irritability and anxiety. Just because it’s gender neutral doesn’t mean you should paint your nursery this color. Studies have shown that the same baby will cry more in a yellow room than in a blue room.

For the home: As with red, use this color as an accent. If you just love the color, a downstairs powder room would be a nice place to put yellow on the walls. It will add a kiss of zest to the first floor. Consider the sun…it’s always nice when it’s out, but you never want to stare at it!

Green…ahhhh green. It’s natural…relaxing…can’t you smell the fresh cut grass? Not only does green bring you down to earth, but it can symbolize greed and envy. So, use green wisely.

For the home: Incorporate green by using indoor plants! Plants will bring the outdoors in, and studies have shown plants and flowers will reduce stress and improve general well-being. You wouldn’t bring your sick friend a gerbil, right? You’d bring them a fresh bouquet! If you’d rather bring green in another way, go with a nice pale green for the living room.

Blue has a similar effect as green. You feel calm around blue. It symbolizes loyalty and peace. Straight from Wikipedia, “In 2000, Glasgow installed blue street lighting in certain neighborhoods and subsequently reported the anecdotal finding of reduced crime in these areas.”

For the home: I’d choose a navy blue as an accent wall in the dining room, or a light blue for a bedroom. If you’re like most, your bedroom is the one place you can really go to unwind. Blue will allow you to feel soothed and restful. Light up a beach wood candle, and you’re in heaven! Just don’t go painting clouds on the ceiling. Then you’ve taken it too far.

Purple is the color of royalty, wealth, and sometimes romance. In ancient healing therapies, the color psychology behind purple was believed to treat skin problems, and purple crystals were used for both emotional and physical healing.

For the home: If it is believed to aid in skin therapy, what better place for a purple paint job than the master bathroom? Maybe the good purple vibes will work their magic and make you forever beauteous. If that’s not what you’re about, picture a relaxing lavender scented bath. Purple is also said to spark the imagination. I know many people do their best thinking in the bathroom!

Pink makes people think of love and romance. But it also brings about a sense of nurturing and immaturity – the silly, playful kind.

For the home: A little girl’s bedroom is the obvious choice here. But I think another less obvious space would be lighter maroon color in a playroom. This may help mold creative thoughts and visionary children.

Now go grab some color swatches, and create your own desired household aura!

PADRE ISLAND HOUSING REPORT – DECEMBER 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for December 2025.

December closed the year with a clear message for Padre Island. The market slowed, but it did not slide. Prices held. Inventory grew. Buyers paused. Sellers adjusted.

At the start of the month, the median home price landed at $365,000. That number sits 2.2 percent higher than December 2024. This matters. Even with fewer sales and more listings, prices stayed resilient. The island did not give back ground.

Most activity clustered in the middle of the market. Homes priced between $300,000 and $399,999 made up 39.1 percent of all sales. This range remains the heartbeat of the island. The next strongest segment came from homes priced between $500,000 and $749,999 at 21.7 percent. Entry level inventory stayed thin, with very little movement below $200,000.

Inventory told a different story. Active listings rose 9.3 percent year over year, ending December with 318 homes on the market. Buyers saw more options than they have in several years. Sellers faced more competition, especially in higher price ranges.

Sales activity slowed sharply. Only 23 homes closed during the month, a 28.1 percent drop compared to last December. Higher borrowing costs and cautious buyers stretched decision timelines. Fewer deals closed, but serious buyers stayed engaged.

Time on market continued to lengthen. Homes averaged 128 days before going under contract, followed by another 28 days to close. From list to finish, the process now averages 156 days. That is 11 days longer than last year. Speed favors sellers who price correctly and prepare well. Everyone else waits.

The clearest signal came from months of inventory. Padre Island ended December at 12.1 months. Last year closed at 10.1 months. This shift confirms a buyer favored environment. Choice returned. Negotiation returned. Balance moved.

This market did not collapse. It reset. Prices remained firm because people still want to live here. Sales slowed because buyers became selective. Inventory grew because sellers stayed confident.

Padre Island closed 2025 steady, not rushed and not overheated. Buyers gained breathing room. Sellers gained clarity. The island kept its long term appeal, driven by lifestyle, location, and limited land.

Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties owner Cheri Sperling for all pre-sales. sperling@coastline-properties.com

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 Corpus Christi 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 Corpus Christi December 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-december-2025

Prep For The Cold?

BREAKING NEWS: Winter is upon us. “So what” you say? We live in S. Texas – it’s always warm, sunny, driveway drinks and pool parties weather around here. MYTH. We can and do get freezes! Who remembers February 2021? That was pretty extra, and as atypical as it was, history CAN repeat itself.

I know we’re all tempted to start purchasing heat lamps and tents for our palms and delicate landscaping, but if you are among the majority who have children, pets, or anything with a heartbeat living under your roof, it’s best to learn from last year’s unfortunately scary and chilly events that to be prepared for inside is the best thing you can do.

Here are the top 5 ways to plan ahead to alleviate some of the discomforts of inclement weather.

  1. GENERATOR – get one. Any one. Small one, big one, an automatic one, propane tank one, whole-home, portable…red one, blue one, get one, run run. You will not want the precious food (or beer) in your fridge to spoil, and you want to be able to at least turn on a small-space portable heater. IF your fridge isn’t going to run on the generator you have, pull out what’s important to you and put it outside! You have a FREE freezer on your patio.
  2. PIPE INSULATION – remember having no water? Or worse yet, no water AND a burst line? Head to your favorite hardware store and grab some pipe insulation. Know where your main water line is and make sure you have enough insulation (or in a clutch situation, blanket and lots of duct tape) to wrap it. Let your faucets drip slowly to keep that water moving, and it is less likely to freeze. In the unfortunate event of a burst, turn them off immediately.
  3. HEAT SOURCE – if you failed to grab that generator, have a backup plan! If you have a fireplace, stockpile wood (and keep the flue closed when not in use!). Gas cooktops? Make sure you have a lighter to spark that bad boy up. If you followed rule #2, you’ll have water to boil for noodles, baby bottles, sponge bath…and while I give you a moment to get your mind out of the gutter…clear THEM, too! If there is debris in them, that melting ice could drip into your attic. Make sure your doors and windows have tight seals to keep drafts out.
  4. CHARGERS – have your battery packs ALL juiced up so you do not end up with a dead cell phone and no way to communicate with the outside world. Or no way to keep yourself entertained…Netflix never sounded so good. Furthermore, have a full tank of gas in your car in the event you DO need to charge your devices from there!
  5. STOCK UP – on weighted blankets, board games, books, wool socks, candles, beef jerky (a personal favorite but any non-perishable protein of your preference!), water (and wine…), flashlights and batteries, first-aid kit, and perhaps make an extra effort at making nice with your neighbors. Sometimes they’re the real saviors with a hot pot of coffee or a quick shower.

I repeat: we CAN and DO freeze! Stick to this top 5 list first, and pray we can save it all for 2072.

PADRE ISLAND HOUSING REPORT – NOVEMBER 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for November 2025.

Our active listing median prices have slightly declined the past month to $458,000 which is actually a 5.6% decrease from where it was compared to last November at this time! CCAR shows us the data that has increased for active listings to 18% with a total of 367 properties this past month compared to November 2024 while inventory rose to 13.6 compared to 11.1 last year at this time.

Days on the market has increased this past month with an average of 159 days and the highest categories for sales with 23.5% of all the sales being priced between $200,000 – $299,999 and $400,000 – $499,000 respectively.

The BUYER’s market continues as we wrap up the year, and we are all eager to see what is in store for 2026. Give us a call and you so we can show you what living on Padre Island is all about.

Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties owner Cheri Sperling for all pre-sales. sperling@coastline-properties.com

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 Corpus Christi 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 Corpus Christi November 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-november-2025

PADRE ISLAND HOUSING REPORT – OCTOBER 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for October 2025.

Our active listing median prices have risen the past month to $451,500 which is actually a 18.4% decrease from where it was compared to last October at this time! CCAR shows us the data that has increased for active listings to 21.8% with a total of 385 properties this past month compared to October 2024 while inventory rose to 14.2 compared to 11.3 last year at this time.

Days on the market has declined this past month with an average of 139 days and the highest categories for sales with 26.7% of all the sales being priced between $500,000 – $749,999.

The BUYER’s market continues, they are some fantastic deals out there right now! Give us a call and you so we can show you what living on Padre Island is all about.

Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

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 Corpus Christi 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 Corpus Christi October 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-september-2025

What Happens to Real Estate When the Government Shuts Down

When the federal government closes, real estate feels it first.

Behind every sale, mortgage, or permit are government-backed systems that make homeownership possible. Flood insurance, FHA and VA loans, rural housing programs, and federal verifications all rely on staff and systems that stop or slow when Washington grinds to a halt.

On a recent episode of The Advocacy Scoop, NAR’s Shannon McGahn and Patrick Newton explained what really happens during a shutdown and how REALTORS® help keep the market steady when uncertainty rises.


A Modern Habit Washington Cannot Shake

Government shutdowns were not always part of the American budget cycle. Before the 1970s, if Congress failed to pass spending bills, federal agencies kept operating, assuming new funding would arrive soon. That changed in 1980 when a Justice Department ruling made it illegal for agencies to spend money without congressional approval.

Since then, shutdowns have become a regular feature of politics. McGahn called it “a reality, not a new one, but a consistent one.”

When Congress fails to pass all twelve annual appropriations bills, parts of the government lose legal authority to operate. To avoid this, short-term fixes known as continuing resolutions are sometimes used to buy time. But when those expire, the shutdown begins.


The Real Estate Ripple Effect

Few industries depend more on the federal government than real estate. Housing transactions are heavily regulated and insured, and that means any disruption quickly reaches buyers and sellers.

“Even if some functions continue, uncertainty slows deals,” McGahn said. “That is why we talk directly with lawmakers. Behind every delayed form or policy renewal is a family waiting to move.”

During a shutdown, the Federal Housing Administration, which insures about 15 percent of U.S. mortgages, faces reduced staffing. Loan processing slows, affecting first-time and lower-income buyers most. VA loans usually continue, but veterans often see delays in eligibility checks or customer service. Rural housing loans through the USDA stop entirely, halting transactions in many smaller communities.

The National Flood Insurance Program is another major concern. It has been kept alive through short-term extensions since 2017, often tied to broader spending bills. When the government closes, its authorization lapses unless Congress acts. Without it, tens of thousands of home closings in flood zones could stall, threatening roughly 1,400 transactions every day.

Existing policies remain valid for 30 days and can be transferred to new owners, but uncertainty spreads quickly. “It is not that everything stops on day one,” McGahn said. “But the longer a lapse lasts, the harder it becomes for people to close on their homes.”


Builders, Renters, and Confidence

The impact extends beyond buyers. Builders and developers face delays when they need federal permits or environmental reviews. HUD rental assistance payments can be held up, leaving housing providers waiting for funds. FHA condo approvals slow down, which affects new supply and development.

Even short shutdowns cause bottlenecks. Longer ones can ripple through markets for months, changing mortgage rates and shaking investor confidence.

Consumer confidence is often the hardest to protect. “Come and use this government program, but the government is shut down,” McGahn said. “That is a hard sell.”


REALTORS® as Advocates

NAR’s advocacy team prepares for these moments long before they happen. When shutdowns threaten, they launch immediate outreach to Congress through the Federal Political Coordinator network, mobilizing members across every district. Within 48 hours of this shutdown, NAR reached 70 percent of lawmakers to explain how the closures affect homebuyers and local economies.

That outreach has sparked bipartisan attention. Lawmakers from both parties have voiced support for keeping critical housing programs open. Behind the scenes, NAR continues meeting with White House officials and housing regulators to keep the focus on one goal: protecting access to homeownership.

Because when Washington closes its doors, the housing market still turns, and REALTORS® still show up for the people trying to move their lives forward.

PADRE ISLAND HOUSING REPORT – SEPTEMBER 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for September 2025.

Our active listing median prices have lowered the past month to $435,000 which is actually a flat 0% increase from where it was compared to last September at this time! CCAR shows us the data that has increased for active listings to 30.8% with a total of 408 properties this past month compared to September 2024 while inventory rose to 15.0 compared to 11.4 last year at this time.

Days on the market has declined this past month with an average of 142 days and the highest categories for sales with 29.6% of all the sales being priced between $400,000 – $499,999.

In September 2025, Padre Island had a 15.0 month supply of properties FOR SALE. The BUYER’s market continues, they are some fantastic deals out there right now! Give us a call and you so we can show you what living on Padre Island is all about.

Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

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 Corpus Christi 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 Corpus Christi September 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-september-2025

Breast Cancer Awareness 2025

Each year, the month of October is recognized as Breast Cancer Awareness Month.
Spearheaded by the National Breast Cancer Foundation, this annual initiative serves to raise
awareness about breast cancer and offer support to those impacted by the disease. The National
Cancer Institute estimates that there will be 297,790 new cases of breast cancer in 2024. Breast
cancer is also the second most common cancer in women behind skin cancer. Furthermore, 1 in 8
women will be diagnosed with breast cancer. Given these statistics, I would like to use this
week’s article to share information about breast cancer risks and warning signs as well as the
important role cancer screenings and early detection play in fighting the disease.

Breast cancer occurs when malignant cells grow in the tissue of the breast. These cells
sometimes form into a tumor, which can be felt as a new lump or mass in the breast. While this
new lump, along with other unusual changes, may indicate the presence of cancerous cells,
breast cancer does not always present physical symptoms in the earliest stages of the disease.
According to the American Cancer Society, however, cancer found at an early stage – when it is
small and has not spread – is easier to treat. For this reason, screening exams, such as
mammograms, are key to finding cancers before they start to cause symptoms, known as early
detection.

Breast cancer screenings are recommended for all women beginning after the age of 40.
However, individuals with a higher risk of the disease may need to be screened earlier and more
often. There are several key factors that are used in determining a person’s risk level of
developing breast cancer, such as age, ethnicity, and family history. While some men, especially

those with a genetic history of the disease, have a risk of breast cancer, women represent 99
percent of all breast cancer cases and have a significantly higher risk of breast cancer than men.
In addition to this, the American Cancer Society states that lifestyle also plays an important role in
determining a person’s risk level. These factors can include weight, alcohol and tobacco use,
physical activity level and diet.

To learn more about this important awareness month, you can visit the National Breast
Cancer Foundation website here: http://www.nationalbreastcancer.org . More information about
the National Cancer Institute’s research can be found here: https://www.cancer.gov .
Additionally, for information about the different symptoms and risk factors for breast cancer,
please review the American Cancer Society’s guide here: https://www.cancer.org/cancer/breast-
cancer/about/what-is-breast-cancer.html

If you have questions regarding any of the information mentioned in this week’s article,
please do not hesitate to call my Capitol or District Office. Please always feel free to contact my
office if you have any questions or issues regarding a Texas state agency, or if you would like to
contact my office regarding constituent services. As always, my offices are available at any time
to assist with questions, concerns, or comments (Capitol Office, 512-463-0672; District Office,
361-949-4603).

– State Representative Todd Hunter, District 32

Rep. Hunter represents Aransas County and part of Nueces County. He can be contacted at
todd.hunter@house.texas.gov or at 512-463-0672.

PADRE ISLAND HOUSING REPORT – AUGUST 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for August 2025.

Our active listing median prices have risen the past month to $449,950 which is actually a 9.3% decrease from where it was compared to last August at this time! CCAR shows us the data that has increased for active listings to 34.8% with a total of 430 properties this past month compared to August 2024 while inventory rose to 16.1 compared to 11.5 last year at this time.

Days on the market has declined this past month with an average of 87 days and the highest categories for sales with 33.3% of all the sales being priced between $400,000 – $499,999. The August 2025 U.S. Consumer Price Index (CPI) showed an annual increase of 2.9%, up from the previous month’s 2.7% and the fastest pace of inflation since January. Month-over-month, the “all items” index rose 0.4%. Core inflation, which excludes volatile food and energy prices, rose 0.3% in August and 3.1% over the past year

In August 2025, Padre Island had a 16.1 month supply of properties FOR SALE. The BUYER’s market continues, they are some fantastic deals out there right now!

Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

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 Corpus Christi 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 Corpus Christi August 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-august-2025

The Ripple Effect of Real Estate in Corpus Christi, Texas

Can a Successful Real Estate Transaction Strengthen the Corpus Christi Community?

When most people think about buying or selling a home, the focus is usually on square footage, price, and the negotiation at hand. But real estate is rarely just about bricks and mortar. In a city like Corpus Christi, where neighborhoods carry unique histories and families often stay rooted for generations, every transaction can also become an opportunity to build something larger: a stronger, more connected community.


The Ripple Effect in Corpus Christi

A home sale is never an isolated event. Each deal sets off a chain reaction that reaches far beyond the closing table. Local inspectors, appraisers, contractors, title companies, movers, interior designers, and landscapers all feel the impact. According to the National Association of Home Builders, building a single-family home supports about three full-time jobs for an entire year. Even resales pump money into the economy as buyers invest in improvements, furnishings, and services.

In Corpus Christi, where many buyers are drawn to coastal living, waterfront homes, and new developments on the Southside and Padre Island, this ripple effect is easy to see. A family’s decision to purchase a home near the bay might mean work for local dock builders, marine supply stores, and fishing outfitters. A sale in an established neighborhood can inspire remodeling projects that give small tradespeople steady business. Every transaction recirculates dollars close to home, strengthening the local economy and helping small businesses thrive.


Real Estate as a Force for Good

More real estate professionals in Corpus Christi are starting to see their role as bigger than simply guiding clients through contracts. They are finding ways to use their work to lift up local causes and deepen the sense of connection that defines this coastal city. Coastline Properties has been contributing to our local events, charities and causes for 2 decades now. We feel blessed to live here and we want to set a new standard for contribution in our community.

Some brokerages now dedicate part of their commissions to community programs. Imagine a portion of each sale helping fund scholarships at Texas A&M University–Corpus Christi, supporting sea turtle rescue initiatives on Padre Island, or underwriting youth sports programs that keep kids engaged and active. Other teams host client appreciation events that double as fundraisers, shining a light on nonprofits that protect local beaches, support arts programs, or preserve South Texas history.

These efforts do more than provide financial support. They reinforce the idea that real estate is woven into the fabric of community life. Buyers and sellers begin to see their move not just as a transaction but as a contribution to the city they love.


Why Community Involvement Matters

Strong communities do not happen by accident. They are built through relationships, shared values, and a willingness to invest in the common good. For real estate professionals, being active in Corpus Christi’s civic life pays dividends in trust and credibility.

A broker who volunteers at a beach cleanup or sponsors a local Little League team is not just advertising. They are showing clients they care about the same things the community cares about: safe neighborhoods, thriving schools, and a vibrant coastal lifestyle. When people make life-changing financial decisions, they look for professionals who are not only skilled but also grounded, accessible, and genuinely invested in the area’s future.

Active participation also gives brokers sharper insight into the city’s dynamics. By being involved in community events, they stay in touch with local concerns, from downtown revitalization to floodplain management to discussions about coastal development. This perspective is invaluable when advising clients on where to buy, what neighborhoods are rising in popularity, and how long-term trends may shape property values in the Corpus Christi real estate market.


Meeting Today’s Clients Where They Are

Clients increasingly prefer to work with companies that “do good.” Whether it is sustainability initiatives, charitable partnerships, or neighborhood involvement, buyers and sellers want their choices to align with their values. This is especially true in Corpus Christi, where the natural environment and local culture are part of what makes the region special.

By choosing brokers who reinvest in the community, clients are not only securing technical expertise. They are partnering with professionals who see beyond the commission check. They are choosing someone who understands the rhythm of the city, values its people, and is willing to put skin in the game for the greater good.

For buyers searching Corpus Christi homes for sale or investors looking into Padre Island real estate, this kind of local knowledge and involvement is often the deciding factor. People want agents who are deeply connected to the South Texas real estate market and committed to keeping the community strong. This is why Coastline Properties is always contributing and sponsoring local events in our area, we believe in investing in our community by raising a new standard of service for all.


The Bottom Line

So, can a successful real estate transaction be a win for the community? In Corpus Christi, the answer is yes when there is intention behind it. A closing is not just the end of a deal; it can also be the beginning of impact. Whether through local hiring, charitable giving, or partnerships with nonprofits, every sale has the potential to leave something lasting.

Real estate here is not just about properties near the bay, homes on Padre Island, or houses tucked into quiet subdivisions. It is about people and the shared sense of place that makes Corpus Christi feel like home. When each transaction feeds into the broader community, the city as a whole becomes stronger, more resilient, and better prepared for the future.

PADRE ISLAND HOUSING REPORT – JULY 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for July 2025.

Our active listing median prices have risen the past month to $398,000 which is actually a 11.4% decrease from where it was compared to last July at this time! CCAR shows us the data that has increased for active listings to 41.3% with a total of 448 properties this past month compared to July 2024 while inventory also dipped to 17.1 compared to 11.0 last year at this time.

Days on the market has stayed steady this past month with an average of 101 days and the highest categories for sales with 28.6% of all the sales being priced between $300,000 – $399,999. The July 2025 Consumer Price Index (CPI) data showed a 2.7% increase over the 12 months ending in June 2025. This was a slight increase from the 2.6% annual rise in May. On a monthly basis, the CPI increased by 0.3%.

In July 2025, Padre Island had a 17.1 month supply of properties FOR SALE. It’s definitely still a Buyer’s Market!

Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

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 Corpus Christi 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 Corpus Christi May 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-july-2025

Massive Surge in Homes for Sale, But Where are the Buyers – What’s Really Going On?

What is happening in today’s housing market?

Listings are expanding at a steady pace. In June, housing inventory was up 16 percent compared to the same time last year. Pending home sales dropped just 0.8 percent from May and are down only 2.8 percent year over year, according to the National Association of REALTORS®. While more properties are being listed, many buyers are still waiting before making a move.

Why are buyers not jumping in yet?
Affordability remains a concern. The median existing-home price reached $435,300 in June, which is a 2 percent increase over the past year. At the same time, mortgage rates have been holding between 6.5 and 6.75 percent, which continues to stretch monthly budgets. Many buyers are still sitting on the sidelines, hoping for better timing or improved affordability.

What explains the surge in listings?
Sellers are listing for a variety of reasons, including relocations, lifestyle changes, and a sense that market timing may not get much better. Major metro areas such as Austin, Denver, Dallas, and Seattle saw sharp increases in listings between April and May. In fact, there were nearly 500,000 more home sellers than buyers in April, marking the largest gap in over a decade.

Does this inventory growth help all buyers equally?
Unfortunately, not yet. While inventory is up significantly nationwide, it is still not meeting the needs of lower and middle-income buyers. Buyers earning less than $50,000 a year could afford only 8.7 percent of listings in May. Even those earning between $75,000 and $100,000 could only access about 21 percent of homes. As supply increases, there is hope that more affordable options will open up.

Is the market turning in buyers’ favor?
There are strong indications that it is beginning to shift. Real estate professionals are expressing growing optimism about increased activity in the months ahead. Mortgage applications have jumped 20 percent compared to the same time last year, showing that buyers are preparing to reenter the market. This pent-up demand could start to release once conditions improve even slightly.

What regional patterns are emerging?
There are some clear geographic differences. The Northeast saw a 2 percent increase in pending sales in June, with the median home price climbing to $543,300. Meanwhile, the Midwest, South, and West saw modest declines in pending sales. However, markets like Austin and others in the Sun Belt are seeing prices adjust and more homes coming online, which could reengage cautious buyers.

Who is benefiting most right now?
Current homeowners continue to benefit from historically high equity gains. Over the past five years, the average homeowner has gained more than $140,000 in home value. For sellers, this means there is still plenty of room to price competitively and attract interest. Homes that are priced well and presented properly are still moving, even in a more selective market.

How could the rest of the year play out?
There is reason for optimism as we move into the second half of the year. If mortgage rates settle or begin to dip slightly and inflation stays under control, affordability could improve. This would likely bring many sidelined buyers back into the market. With more homes to choose from and sellers increasingly open to negotiations or price adjustments, a more balanced and active housing market could take shape.


Key Takeaways for Buyers and Sellers

Buyers Sellers
More inventory creates more choice and flexibility Equity remains strong and proper pricing attracts interest
Mortgage application volume is increasing, signaling more buyer activity Pricing realistically can help you sell faster in a shifting market

The bottom line: The market is gaining momentum. Listings are up, buyers are showing interest again, and sellers are becoming more flexible. Whether you are looking to buy or sell, staying informed and acting strategically could open up big opportunities before the year ends.

PADRE ISLAND HOUSING REPORT – MAY 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for May 2025.

Our active listing median prices have softened the past month to $424,500 which is actually a 14.2% decrease from where it was compared to last May at this time! CCAR shows us the data that has risen for active listings t0 53.6% with a total of 473 properties this past month compared to May 2024 while inventory also rose to 18.1 compared to 10.6 last year at this time.

Days on the market decreased this past month with an average of 76 days and the highest categories for sales with 28.6% of all the sales being priced between $500,000 – $749,999. The market is continuing to show signs of stability with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

In May 2025, the Consumer Price Index (CPI) showed a modest rise, with an annual increase of 2.4%. This is up from 2.3% in April. The increase was less than expected, and the monthly rise was only 0.1%.

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 Corpus Christi 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 Corpus Christi May 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-may-2025

PADRE ISLAND HOUSING REPORT – APRIL 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for April 2025.

LOCAL DATA AS OF 5/8/2025

Single Family FOR SALE on Padre Island:  93 Homes   $475,000 to $2,500,000   

Single Family SALE PENDING on Padre Island:  8 Homes under contract;  
 
Single Family SOLD on Padre Island: There have been only 24 homes closed   01/01/2025 through 05/07/2025.
2 closed in the $400,000 range
5 closed in the $500,000 range
6 closed in the $600,000 range
2 closed in the $700,000 range
1 closed in the $800,000 range
2 closed in the $900,000 range
7 closed in the $1,000,000 range
 
Median Price of a Listing was $700,000
Median Price of a Closing was $685,000
Average Days on the Market:  117 Days
 
The real estate market continues to remain quite sluggish. 

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 Corpus Christi 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 Corpus Christi March 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-march-2025

WHY USE A LOCAL PADRE ISLAND REALTOR?

Local-Realtors-corpus-christi

WHY USE A LOCAL PADRE ISLAND REALTOR?

This question probably prods every seller at one point or another…it’s your property, aren’t you the best suited to sell it? Perhaps. Then again, let me explain why maybe not. As a buyer, it’s just as critical to use a local Realtor. It comes down to the three Ts: Tools, Training, Transaction-Related Matters.

Tools:

Real estate agents have tools, and they don’t come in a box or on a belt. One of these tools is the Multiple Listing Service (MLS). This is a system paid for by agents to showcase listings to all other agents. It also allows us to see and search every other property for sale, along with what’s closed, what’s under contract, etc…always in real time. Because the MLS dates back decades, it is trend and individual property history at our fingertips. It gives agents the unique ability to create a comparative market analysis on your property with the knowledge we have from recent closures. As a tight-knit community, we have a network of other agents and a network of title company experts who keep us up-to-date on changes to contracts and changes to the law. We are vested in the community where we live and work, and where you want to live or sell. We are familiar with the local market, building guidelines, and numerous specifications that our seaside area requires.

Training:

OK, it sounds like we’re running a marathon, but seriously, sometimes a real estate transaction feels like one! Real Estate Agents went to a school focused specifically on real estate and can help you navigate the (sometimes rough) terrain. Both a national and a state required exam must be passed to become licensed. Pricing, contract paperwork, real estate finance and law, these are all areas we’re proficient in and experts at. Likewise, we’re required to continue our education with a certain number of hours each year to ensure we stay informed and updated on the ever-changing regulations occurring in this industry. Also, not all real estate licensees are the same; only those who are members of the National Association of Realtors are properly called REALTORS and can proudly display that trademark on marketing and sales literature.

Transaction-Related Matters:

This comes down to the meat and potatoes of it all, concerning the contract itself, to the negotiations, to possible repair work, to closing details, and every possible scenario in between. It also heavily involves our Code of Ethics – for over 100 years, this code ensures agents treat their clients professionally and ethically. These ethics are strictly enforced, and you know you will be working with a true professional who focuses on your needs and wants. Your agent is accountable for fulfilling their full “fiduciary responsibilities” to you (has your best interest in mind from finances to full disclosure to confidentiality).  Realtors are committed to treat all parties in a transaction honestly. An independent survey reported that 84% of home buyers would use the same Realtor again.

The best agent I know once told me, “You’ve done your job if you’ve made it look easy.” So I invite you to relax…have a lemonade…allow us to make the process appear as seamless as possible.

PADRE ISLAND HOUSING REPORT – MARCH 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for March 2025.

Our active listing median prices have risen slightly the past month to $380,000 which is a large a 20.8% decrease from where it was compared to last March at this time! CCAR shows us the data that has risen for active listings t0 48.6% with a total of 413 properties this past month compared to March 2024 while inventory also rose to 14.7 compared to 9.7 last year at this time.

Days on the market decreased this past month with an average of 61 days and the highest categories for sales with 30.4% of all the sales being priced between $300,000 – $399,999. The market is truly moving forward this spring with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The consumer price index fell a seasonally adjusted 0.1% in March, putting the 12-month inflation rate at 2.4%, down from 2.8% in February.
Excluding food and energy, so-called core inflation ran at a 2.8% annual rate, having increased 0.1% for the month. That was the lowest rate for core inflation since March 2021.

LOCAL DATA AS OF 4/8/2025

94 Waterfront Homes on Padre Island FOR SALE ranging $474,900 to $2,500,000

Median Price: List Price is $762,000 3/3/2 2,188sf

1/1/2025-4/7/2025

14 Waterfront Homes on Padre Island SOLD with sales price ranging from $492,000 to $1,425,000

Median Price: List Price $662,400 – Selling Price $652,950 113 Days on the Market

1 home sold $492,000

4 homes sold in the $500,000+ range

3 homes sold in the $600,000+ range

2 homes sold in the $700,000+ range

1 home sold in the $800,000+ range

1 home sold in the $900,000+ range

2 homes sold over the $1,000,000 range

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 Corpus Christi 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 Corpus Christi March 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-march-2025

PADRE ISLAND HOUSING REPORT – FEBRUARY 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for February 2025.

Our active listing median prices have softened the past month to $379,000 which is actually a 4.4% decrease from where it was compared to last February at this time! CCAR shows us the data that has risen for active listings t0 35.1% with a total of 350 properties this past month compared to February 2024 while inventory also rose to 12.3 compared to 8.6 last year at this time.

Days on the market increased this past month with an average of 134 days and the highest categories for sales with 30% of all the sales being priced between $500,000 – $749,999. The market is continuing to show signs of stability with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The median estimate (year-over-year, not seasonally adjusted) for the consumer price index (CPI) for the month of February 2025 is 2.9%. If 2.9% is the actual year-over-year increase in the CPI, it will mark a decrease from the previous month. It will also be below the trailing 12-month average of 3.0%.

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 Corpus Christi 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 Corpus Christi February 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-february-2025

Boomers, Billions, and the Future of Senior Housing: The Investment Opportunity of the Decade

The oldest baby boomers are about to hit 80, and with this demographic shift comes a massive opportunity for commercial real estate investors according to the Wall Street Journal. The demand for senior housing is set to skyrocket, and those who position themselves strategically in the market stand to benefit from one of the most significant trends in real estate today.

The Boomer Effect: A Market Ready for Growth

By 2030, the U.S. population aged 80 and older is projected to reach nearly 19 million, a staggering increase that will send ripples through the senior housing sector. As millions of aging adults seek accommodations that cater to their evolving needs, the market will need to step up to meet demand.

While aging in place has been a preference for some, many seniors transition to senior living communities when maintaining a home independently becomes impractical. This shift creates a major supply-demand imbalance—one that presents a compelling investment opportunity.

Just a few years ago, senior housing faced an oversupply issue. But the pandemic slowed development, and today, new construction is failing to keep pace with projected needs. Experts estimate that over 560,000 new senior housing units will be needed by 2030, yet current development trends suggest only 191,000 units will be added. This gap signals a major shortage—and a chance for investors to capitalize.

Adapting Investment Strategies: Acquisitions Over New Builds

Developers looking to enter or expand in the senior housing market are shifting their strategies in response to challenges like high interest rates, soaring construction costs, and labor shortages. Instead of focusing solely on ground-up construction, acquisitions are taking center stage.

Real estate giants like Welltower and Ventas are aggressively investing in existing senior housing communities, modernizing properties, and repositioning them for long-term profitability. This approach reduces development risks while allowing investors to bring in revenue more quickly than with new builds.

For investors, this shift highlights an opportunity to acquire undervalued assets, upgrade them, and benefit from rising demand as occupancy rates climb. With fewer new developments coming online, well-positioned properties stand to appreciate significantly in value.

Luxury Senior Housing: The Next Big Play

One of the most promising areas of senior housing investment is the luxury segment. Developers are targeting wealthier baby boomers—a generation that has built substantial wealth and is willing to pay for high-end amenities and experiences.

Upscale senior living communities are no longer just about basic care; they offer resort-style living with features such as:

Private wine rooms
Golf cart-friendly paths
Wellness spas & fitness centers
Fine dining & chef-prepared meals
Art studios & cultural activities

These high-end communities are resilient to market fluctuations, as affluent seniors can better absorb rent increases and operating cost adjustments. For investors, this means stronger margins, higher occupancy stability, and long-term profitability.

The Road Ahead: A Golden Era for Senior Housing Investors

The next decade will be a defining moment for the senior housing sector. Investors who recognize the supply-demand imbalance and position themselves early can reap substantial rewards.

🔹 Acquisitions and repositioning of existing properties will allow for faster market entry.
🔹 Luxury senior housing developments will continue to attract high-net-worth residents.
🔹 A focus on operational efficiency will be key to maximizing NOI and long-term value.

With an aging population driving demand and a market facing a supply crunch, now is the time for investors to act. The senior housing boom is just beginning—those who move strategically will lead the way in shaping the future of this high-growth sector.

PADRE ISLAND HOUSING REPORT – JANUARY 2025

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for January 2025.

Winter months, particularly December and January, present several challenges that make them the worst time to sell a property. One of the
primary reasons is the colder weather, even on Padre Island, which can make property hunting much less appealing attracting fewer buyers to a property.

We are still looking at a Buyer’s Market locally. Which means THIS is the perfect time to buy because prices are lower. Yes, interest rates are a bit
higher, but property prices are down. Buy now, and once interest rates adjust, refinance that property. They are saying the interest rates won’t change much
in 2025 but this gives you time to get that perfect property – BEFORE rates go down and prices of property start to rise.

While it’s not a strict rule or guarantee, properties typically appreciate over five years. It’s been forecasted there will be a modest increase in property
sales and property prices. HOWEVER, if inventory continues to rise with new listings coming out daily and property sales continue to be slow, then who
knows exactly when it will become a Sellers’ market once again?

Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

In January, inflation unexpectedly accelerated. The consumer price index rose 3% from a year ago, data published Wednesday showed. That’s above December’s rate and the consensus expectation, both of which were 2.9%.

The CPI increased 0.5% over the month in January from December, above the forecast of 0.3% and recent month-over-month increases.

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 Corpus Christi 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 Corpus Christi January 2025 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-january-2025

PADRE ISLAND HOUSING REPORT – DECEMBER 2024

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for December 2024.

Our active listing median prices have softened the past month to $357,000 which is actually a 23.4% decrease from where it was compared to last December at this time! CCAR shows us the data that has risen for active listings t0 41.2% with a total of 298 properties this past month compared to December 2023 while inventory also rose to 10.3 compared to 6.6 last year at this time.

Days on the market increased this past month with an average of 116 days and the highest categories for sales with 37.5% of all the sales being priced between $300,000 – $399,999. The market is still softening a bit as we head into new year with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index rose at a slightly quicker pace than the 0.3% increase in the prior month, as energy prices surged by 2.6% in December alone. Gasoline prices shot up 4.4%. Over the year ending in December, CPI rose 2.9% — up from 2.7% in November 2024.

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 Corpus Christi 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 Corpus Christi December 2024 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-november-2024

PADRE ISLAND HOUSING REPORT – NOVEMBER 2024

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for November 2024.

Our active listing median prices have softened the past month to $485,000 which is actually a 20.1% increase from where it was compared to last November at this time! CCAR shows us the data that has risen for active listings t0 33.6% with a total of 322 properties this past month compared to November 2023 while inventory also rose to 11.5 compared to 7.3 last year at this time.

Days on the market stayed steady this past month with an average of 86 days and the highest categories for sales with 30.4% of all the sales being priced between $300,000 – $399,999. The market is still softening a bit as we head into the last month of 2024 with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.3 percent on a seasonally adjusted basis in November versus the prior month, following four consecutive months of 0.2 percent increases. Over the past 12 months, the all-items index has increased by 2.7 percent before seasonal adjustment.

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 Corpus Christi 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 Corpus Christi November 2024 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-november-2024

PADRE ISLAND HOUSING REPORT – OCTOBER 2024

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for October 2024.

Our active listing median prices have risen the past month to $556,7500 which is actually a 23.7% increase from where it was compared to last October at this time! CCAR shows us the data that has risen for active listings t0 33.3% with a total of 328 properties this past month compared to Ocotber 2023 while inventory also rose to 11.7 compared to 7.3 last year at this time.

Days on the market stayed steady this past month with an average of 143 days and the highest categories for sales with 40.0% of all the sales being priced between $500,000 – $749,999. The market is still softening a bit as we head into the holidays with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally
adjusted basis in October, the same increase as in each of the previous 3 months, the U.S. Bureau of
Labor Statistics reported today. Over the last 12 months, the all items index increased 2.6 percent before
seasonal adjustment.

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 Corpus Christi 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 Corpus Christi October 2024 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-october-2024

PADRE ISLAND HOUSING REPORT – SEPTEMBER 2024

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for September 2024.

Our active listing median prices have dipped the past month to $487,000 which is actually a 25.2% increase from where it was compared to last September at this time! CCAR shows us the data that has risen for active listings t0 36.6% with a total of 321 properties this past month compared to September 2023 while inventory also rose to 11.9 compared to 6.6 last year at this time.

Days on the market for sale increased this past month with an average of 143 days and the highest categories for sales with 22.2% of all the sales being priced between $300,000 – $399,000 and $750,000 – $999,999. The market is still softening a bit as we head into the holidays with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index (CPI) rose by 0.7% between September 2023 and September 2024, down from an annual increase of 1.7% in the 12 months to August 2024. Excluding energy and unprocessed food, the CPI went up by 2.4% in the 12 months to September 2024. The current federal funds rate is 4.75% to 5.00%. The Federal Open Market Committee (FOMC) set this target range at its September 17–18, 2024 meeting. This was a 50 basis point decrease, or 0.50 percentage point, from the previous rate.

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 Corpus Christi 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 Corpus Christi August 2024 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-september-2024

PADRE ISLAND HOUSING REPORT – AUGUST 2024

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for August 2024.

Our active listing median prices have risen the past month to $496,000 which is actually a 27.6% increase from where it was compared to last August at this time! CCAR shows us the data that has risen for active listings t0 46.8% with a total of 320 properties this past month compared to August 2023 while inventory also rose to 11.6 compared to 5.6 last year at this time.

Days on the market for sale increased this past month with an average of 110 days and the highest categories for sales with 30.0% of all the sales being priced between $750,000 – $999,999. The market is softening a a bit as we head into fall with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in August, increasing at the slowest pace since February 2021, and down from a 2.5% gain in July 2024. The Federal Reserve will lower interest rates for the first time today in more than four years as the U.S. central bank starts to reverse the restrictive conditions it imposed to beat back inflation, but whether policymakers opt for a half-percentage-point cut or smaller move remains up in the air.

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 Corpus Christi 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 Corpus Christi August 2024 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-august-2024

PADRE ISLAND HOUSING REPORT – JULY 2024

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for July 2024.

Our active listing median prices have risen the past month to $427,500 which is actually a 0.6% increase from where it was compared to last July at this time! CCAR shows us the data that has risen for active listings t0 42.7% with a total of 324 properties this past month compared to July 2023 while inventory also rose to 11.2 compared to 5.7 last year at this time.

Days on the market for sale increased this past month with an average of 110 days and the highest categories for sales with 23.3% of all the sales being priced between $500,000 – $749,999. The market continues to stay stable so far into 2024 with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The median estimate (year-over-year, not seasonally adjusted) for the consumer price index (CPI) for the month of July 2024 is 3.0%. If 3.0% is the actual year-over-year increase in the CPI, it will match the number from the previous month.

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 Corpus Christi 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 Corpus Christi July 2024 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-July-2024

PADRE ISLAND HOUSING REPORT – JUNE 2024

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for June 2024.

Our active listing median prices have risen the past month to $476,000 which is actually a 10.8% increase from where it was compared to last June at this time! CCAR shows us the data that has risen for active listings t0 49.3% with a total of 327 properties this past month compared to June 2023 while inventory also rose to 10.5 compared to 4.3 last year at this time.

Days on the market for sale decreased this past month with an average of 81 days and the highest categories for sales with 32.4% of all the sales being priced between $500,000 – $749,999. The market is very stable so far into 2024 with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

Forecasts for the June Consumer Price Index report agree that overall inflation continued to soften in June, thanks to falling prices for energy and used cars. Inflation has fallen dramatically from its peak of 9.1% in 2022. Still, the Federal Reserve has said it is awaiting more confidence that price pressures are easing toward its target before it begins to cut interest rates and loosen monetary policy.

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 Corpus Christi 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 Corpus Christi June 2024 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-June-2024

PADRE ISLAND CORPUS CHRISTI HOUSING REPORT MAY 2024

Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for May 2024.

Our active listing median prices have risen the past month to $495,000 which is actually a 8.7% increase from where it was compared to last May at this time! CCAR shows us the data that has risen for active listings by 63.8% with a total of 308 properties this past month compared to May 2023 while inventory also rose to 10.5 compared to 4.3 last year at this time.

Days on the market for sale rose this past month with an average of 92 days and the highest categories for sales with 47.4% of all the sales being priced between $500,000 – $749,999. The market is very stable so far into 2024 with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

Previous monthly figures for 2024 have seen 0.3% to 0.4% for both monthly and core inflation. Core inflation excludes food and energy price changes. For May’s figures now casts from the Cleveland Federal Reserve estimate that headline monthly inflation will be 0.08% and core inflation 0.3%.

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 Corpus Christi 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 Corpus Christi May 2024 Data (Click Pic below for Larger Image)

padre-island-corpus-christi-housing-report-may-2024

WE LOVE MAILBOX MONEY

Anyone else sit at home and blast Jimmy Buffet radio through the surround sound? Mailbox Money is one of my personal favorites. He’s got the right idea: Invest in a piece of paradise, rent it, make (more than) a few bucks! With the housing market being as strong as it is right now, most buyers are losing out on the rat race – they WANT to be here, but (1) cannot afford to buy in this high seller’s market; (2) are attempting to purchase but continue to not be “the chosen one” in the multiple offer scenarios presenting with most properties for sale; (3) are unsure as to how long they’ll be able to spend away from their homestead; or (4) just want to get a feel for the Island before purchasing themselves.

These folks want to RENT! They want to give YOU their MONEY!

Spring and Summer are often pique times to consider selling and buying, especially now with the population AND popularity of the Coastal Bend rapidly increasing. Demand is HIGH and for good reason. Travel is becoming increasingly more accessible, and many are still working remotely and want to do so from our Island. Two really huge reasons to jump in and both buy and sell while the flocks are flocking.

So WHAT makes real estate such a powerful investment, not only now in the current market, but long-term?

WHAT:

If checking that mailbox for a monthly check is what has your face morphing into the heart eye emoji, then you’re asking yourself, “what are the elements of value to an investor?” Well, that depends on commitment: Do you intend on having a long-term or short-term investment? You also need to do your due diligence on rental rules – single-family homes must have a 30+ day minimum; however, most condos will allow vacation rentals. Ask your agent for the specifics on each property you have your eye on to ensure it aligns with your goals.

Property values and their projected appreciation may play a large role in your (a buyer’s) intentions. This past year is a prime example of how quickly appreciation can happen – and may likely continue on that upward trajectory. Tax depreciation, capital gains, and inflation hedge may also play a role in values. As important as these matters are, they may be a little snooze-worthy. So let’s make it quick.

Let’s take a look at each of these potential advantages:

Projected Appreciation: This is a percentage that estimates what your property will be worth in the future. Of course, nothing is ever promised, but the numbers could aid in the decision process.

Tax Depreciation: COULD help you maximize your tax savings. This is the depreciation that can be listed as an expense on a tax return, the gradual charging to expense of a fixed asset’s cost over its useful life.

Capital Gains: Another key tax advantage of owning an investment property. Capital gains on investment real estate is the difference between the sales price and the cost of purchase and improvements. They’re taxed at either a short-term rate or a long-term or reduced rate.

Inflation Hedge: This has to do with the rent that’s charged to the tenant. Some leases have provisions for rent increases to be indexed to inflation. In other cases, rental rates are increased whenever a lease term expires and the tenant is renewed. Either way, real estate income tends to increase faster in inflationary environments, allowing an investor to maintain its real returns.

Selling: When rental properties are sold, the proceeds can be rolled into other rental properties without paying capital gains taxes. This is called a 1031-Tax Exchange.

Now, most of you are probably thinking “This sounds great, but I can’t afford that…” Fortunately for many of us, you don’t have to be a part of the ultra-rich to own an investment property! After all is said and sold, as long as your rental income exceeds your monthly expenses, you WIN!

Here are some helpful tips that may guide you in the right direction:

  1. Work with an agent who is knowledgeable about the area. Here in our Coastal Bend, most agents are accustomed to working with investors/second home buyers.
  2. Know what the seller’s main goals are. That alone will give you a leg up on any offer you send their way. If they’re money-driven, offer over the asking price. If they need a long close and a lease-back, offer that. Extra Earnest Money? You get the idea.
  3. Spend time doing your research and asking your agent the property questions. Which is the right neighborhood for your needs, the costs of maintenance, HOA dues, taxes, insurance, etc.
  4. Have money. This may seem obvious but daunting, so let me explain that it doesn’t mean millions in the bank. Paying cash may give you a leg up, but many buyers will need a loan – your lender’s underwriter needs to see that you have adequate reserves (as often your down payment will be larger for a second property).
  5. Consider your debt-to-income ratio. It cannot be too high.

If you are at all capable, dive in. The options and advantages can far outweigh the fear of dabbling in real estate investing. If you live here, you know the magic of the Island – now is the time to capitalize on the growing rental market. Let not “checking the mail” be a chore – Cash in!

PADRE ISLAND HOUSING REPORT – APRIL 2024

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for April 2024.

Our active listing median prices have slightly dipped the past month to $460,000 which is actually a 17.4% increase from where it was compared to last April at this time! CCAR shows us the data that has decreased slightly for active listings by 71.3% with a total of 286 properties this past month compared to April 2023 while inventory Has stayed stable at 9.6 compared to 3.7 last year at this time.

Days on the market for sale decreased this past month with an average of 80 days and the highest categories for sales with 32.4% of all the sales being priced between $400,000 – $499,999. The market is still staying very stable so far into 2024 with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The April 2024 Consumer Price Index (CPI) report rose by a softer-than-expected 0.3% month-over-month (MoM) and 3.4% year-over-year (YOY). Inflation eased as smaller gains in services (e.g., food services) costs offset the continued strong rises in rent and gasoline prices.

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!

 

North Padre Island March 2024 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-april-2024

NORTH PADRE ISLAND HOUSING REPORT – MARCH 2024

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for March 2024.

Our active listing median prices have risen the past month to $480,000 this past month which is an 13.6% decrease from where it was compared to last March at this time! CCAR shows us the data that is increasing for active listings by 82.9% with a total of 278 properties this past month while inventory Has risen at 9.8 compared to 3.1 last year at this time.

Days on the market for sale increased this past month with an average of 90 days and the highest categories for sales with 32.2% of all the sales being priced between $400,000 – $399,999. The market is still staying very stable so far into 2024 with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The consumer price index climbed 3.5% year over year in March, according to data released today by the Bureau of Labor Statistics, faster than February’s 3.2% pace. Economists surveyed by FactSet had expected an annual increase of 3.4%.

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!

 

North Padre Island March 2024 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-march-2024

NORTH PADRE ISLAND HOUSING REPORT – FEBRUARY 2024

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for February 2024.

Our active listing median prices have dipped the past month to $403,700 this past month which is an 1.6% decrease from where it was compared to last Febuary at this time! CCAR shows us the data that is increasing for active listings by 82.3% with a total of 257 properties this past month while inventory Has risen at 8.6 compared to 2.8 last year at this time.

Days on the market for sale increased this past month with an average of 86 days and the highest categories for sales with 40.0% of all the sales being priced between $300,000 – $399,999. The market is still staying solid so far into 2024 with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

We learned this morning that inflation as measured by the Consumer Price Index was 0.4 percent in February and 3.2 percent over the past year. Core inflation, which leaves out volatile food and energy prices in order to better parse inflation’s underlying trend, was also 0.4 percent over the month and 3.8 percent over the last year.

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!

 

North Padre Island Febraury 2024 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-december-2023

NORTH PADRE ISLAND HOUSING REPORT – JANUARY 2024

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for January 2024.

Our active listing median prices have dipped the past month to $356,000 this past month which is an 8.5% decrease from where it was compared to last January at this time! CCAR shows us the data that is increasing for active listings by 77.9% with a total of 233 properties this past month while inventory Has risen at 7.5 compared to 2.5 last year at this time.

Days on the market for sale increased this past month with an average of 84 days and the highest categories for sales with 31.3% of all the sales being priced between $300,000 – $399,999. The market is still holding quite well moving into 2024 with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index (CPI) rose 2.9% on a year-over-year basis in January, following a 3.4% gain in December. The largest contributor to headline deceleration was lower year-over-year prices for gasoline in January (-4.0%) compared with December (+1.4%)

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!

 

North Padre Island November 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-december-2023

NORTH PADRE ISLAND HOUSING REPORT – DECEMBER 2023

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for December 2023.

Our active listing median prices have risen the past month to $465,750 this past month which is a whopping 34% increase from where it was compared to last December at this time! CCAR shows us the data that is increasing for active listings by 59.4% with a total of 212 properties this past month while inventory Has risen at 6.6 compared to 2.5 last year at this time.

Days on the market for sale increased this past month with an average of 62 days and the highest categories for sales with 27.3% of all the sales being priced between $500,000 – $749,999. The market is still holding quite well moving into 2024 with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index for All Urban Consumers (CPI-U) increased 3.4 percent over the last 12 months to an index level of 306.746 (1982-84=100). For the month, the index decreased 0.1 percent prior to seasonal adjustment.

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!

 

North Padre Island November 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-december-2023

NORTH PADRE ISLAND HOUSING REPORT – NOVEMBER 2023

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for November 2023.

Our active listing median prices have stayed steady the past month to $400,000 this past month which is a 8.6% increase from where it was compared to last November at this time! CCAR shows us the data that is increasing for active listings by 70.2% with a total of 240 properties this past month while inventory Has risen at 7.3 compared to 2.6 last year at this time.

Days on the market for sale decreased this past month with an average of 42 days and the highest categories for sales with 42.9% of all the sales being priced between $300,000 – $399,999. The market is still quite stable moving into 2024 with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in November on a seasonally adjusted basis, after being unchanged in October, the U.S. Bureau of Labor Statistics
reported today. Over the last 12 months, the all items index increased 3.1 percent before seasonal adjustment.

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!

 

North Padre Island November 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-october-2023

NORTH PADRE ISLAND HOUSING REPORT – OCTOBER 2023

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for October 2023.

Our active listing median prices have risen the past month to $450,000 this past month which is a 9.8% increase from where it was compared to last October at this time! CCAR shows us the data that is increasing for active listings by 60.8% with a total of 246 properties this past month while inventory Has risen at 7.2 compared to 2.8 last year during the month of October.

Days on the market for sale increased this past month with an average of 72 days and the highest categories for sales with 33.3 % of all the sales being priced between $300,000 – $399,999. The market is still quite stable moving into our short winter with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The median estimate (year-over-year, not seasonally adjusted) for the consumer price index (CPI) for the month of October 2023 is 3.3%. If 3.3% is the actual year-over-year increase in the CPI, it will mark the first decline in the consumer price index relative to the previous month since June 2023. This begins to show that inflation may be softening a bit as we head into the end of 2023.

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!

 

North Padre Island October 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-october-2023

NORTH PADRE ISLAND HOUSING REPORT – SEPTEMBER 2023

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for September 2023.

Our active listing median prices slightly dipped the past month to $389,500 this past month which is a 4.5% decrease from where it was compared to last September at this time! CCAR shows us the data that is rising for active listings by 65% with a total of 236 properties this past month while inventory Has risen at 6.6 compared to 2.6 last year during the month of September.

Days on the market for sale dipped this past month with an average of 51 days and the highest categories for sales with 34.6 % of all the sales being priced between $300,000 – $399,999. The market is stable moving into fall with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI has started sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index (CPI) showed inflation rose 0.4% over last month and 3.7% over the prior year on a headline basis in September, a deceleration from August’s 0.6% month-over-month increase and in line with August’s 3.7% annual rise. Both measures were slightly higher than economist forecasts for a 0.3% month-over-month increase and a 3.6% annual increase, according to data from Bloomberg.

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!

 

North Padre Island September 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-september-2023

NORTH PADRE ISLAND HOUSING REPORT – AUGUST 2023

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for August 2023.

Our active listing median prices fell the past month to $389,000 this past month which is a 2.3% decrease from where it was compared to last August at this time! CCAR shows us the data that is rising for active listings by 41.8% with a total of 217 properties this past month while inventory Has risen at 5.6 compared to 2.8 last year during the month of August.

Days on the market for sale are increasing from last month with an average of 59 days and the highest categories for sales with 26.8% of all the sales being priced between $300,000 – $399,999 and $500,000 – $749,999. The market is moving forward nicely this summer with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is set up to start sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

Headline Inflation measured by the Consumer Price Index (CPI) was 0.6 percent in August and 3.7 percent over the previous year. Both of these rates were higher than recent figures on inflation, and the main driver of the increase was the rise in retail gasoline prices in August. fuel provided 34 basis points, or slightly more than half, of the overall monthly CPI, which increased by 10.6 percent over the course of the month (the price of fuel has decreased by 3.3 percent over the last year).

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!

 

North Padre Island August 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-august-2023

HOW TO FEEL PART OF THE ISLAND COMMUNITY

Whether you’ve lived here for several decades or just a few months, it can take a while to feel like you belong. Often it’s not painting the walls and installing a new chandelier that will make you feel “at home” … try rather engaging in your community! But HOW?

Shape where you live:

Knowing what’s going on in your neighborhood gives you an opportunity to speak up on things that matter to you, like voting on a local ordinance, participating in school board elections, or petitioning for the new dog park you’d love to have. By getting involved, you can help make your community a better place to live.

Create stronger social ties:

Meet your neighbors – This is the easiest first step, and they are the perfect entry point for getting to know the larger community. If you’re a bit reserved and initiating a coffee invite seems daunting, try breaking the ice through neighborhood apps such as Nextdoor or Padre Island Neighbors They are a great avenue for starting conversations and can open the doors (literally!). People are the heart of any community, and when you get to know the neighbors, shopkeepers, and service people around you, you’ll feel like you belong.

Attend a neighborhood meeting – Our monthly POA meetings are open to the public! Come, listen, ask questions…this gives you a platform to discuss concerns and improvement opportunities, while also introducing you to key people within the community.

Get involved:

After you’ve met your neighbors and have attended some neighborhood meetings, have some fun!

Shop local – Your local coffee shop, friendly hardware store, welcoming car repair spot, pet store…just some of the shops that make our Island unique. Dine at our delicious family-owned restaurants, get your hair cut by our resident barber. Small businesses are at the core of a thriving community, and shopping local ensures the money you spend goes back into keeping our community vibrant.

Take to the streets – The Island is known for fishing tournaments, farmers’ markets, parades, races, etc. Show up! The more you stroll the booths and cheer on your fellow Islanders, the more social connections you’ll make.

Volunteer your time – There are ALWAYS places to volunteer. You’ll find shared interests and gain a sense of self reward. Clean up the beach, organize a food drive…giving back will always bring you closer to the community. This can also be in the form of joining or starting a club.

Protect your property value:

When you partner up with others in our community to work together to make The Island a safe, clean, fun place, you make the neighborhoods more attractive to people looking for a new home, driving up the area’s desirability and boosting property values. Better for ALL of us!

Your community is an extension of your home. When you invest in your community, it returns the favor by helping you.

NORTH PADRE ISLAND HOUSING REPORT – JULY 2023

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for July 2023. Our active listing median prices rose the past month to $425,000 this past month which is a 17.6% increase from where it was compared to last July at this time!
CCAR shows us the data that significantly rising for active listings by 44.5% with a total of 2224 properties this past month while inventory Has risen at 5.5 compared to 2.8 last year during the month of July.

Days on the market for sale are declining from last month with an average of 47 days and the highest categories for sales with 31.0% of all the sales being priced between $500,000 – $749,999. The market is moving forward nicely this summer with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is set up to start sales of their lots in Phase 1, If you haven’t visited their trailer yet be sure to contact us so that we can get you a priority visit with them.

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in July on a seasonally adjusted basis, the same increase as in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment.

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!

 

North Padre Island July 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-july-2023

Home Sales Declining While Prices Soar to Record Highs

As the housing market struggles with a severe inventory constraint, existing-home sales continued to decline in June, while home buyers push up prices showing significant demand.

The most recent housing data from the National Association of REALTORS® shows that the median sale price of an existing property in June was $410,200, the second-highest amount ever seen in the previous 24 years. According to NAR data, the record high of $413,800 was achieved a year ago. According to Lawrence Yun, the chief economist for the NAR, home sales decreased in June, while home prices remained stable across most of the nation. “Limited supply continues to encourage multiple offers, with one-third of homes selling for more than the asking price.”

Homes are moving quickly off the market: According to NAR data, 76% of houses that were sold in June were available for less than a month. There were only the market for an average of 18 days.

Despite Obstacles, Buyers Are Confident

The majority of Americans still seem eager to buy a home despite high home prices, high mortgage rates, and a lack of housing options. The most recent Mortgage Service Index from TD Bank shows that 54% of consumers believe that the moment is right to make a purchase. However, the survey also reveals that home buyers are anxious, listing inventories and mortgage rates as two of their top stresses.

The scarcity of available properties is an issue for prospective buyers of real estate: At 1.08 million units, the total housing inventory at the end of June remained historically low. According to data from NAR, inventory is down 13.6% from a year earlier. Yun claims that there aren’t enough houses available for purchase. “A doubling of inventory can be easily absorbed by the market.”

However, recent data from the Census Bureau reveal that new home construction was down last month and isn’t making up the difference. Following four consecutive months of growth, production of single-family homes fell by 7% annually in June. The National Association of Home Builders attributed a decline in homebuilding activity and worsening affordability conditions for purchasers to higher construction costs and rising mortgage rates.

Regional Breakdown

Sales varied across the country last month, with the Northeast posting gains, the Midwest holding steady, and the South and West reporting decreasing sales, NAR’s report shows. All four regions recorded year-over-year sales declines.

  • Northeast: Existing-home sales rose 2% month over month to an annual rate of 510,000 but are down 21.5% from a year ago. Median price: $475,300, up 4.9% from the prior year.
  • Midwest: Sales were unchanged from a month ago at an annual rate of 990,000, falling 19.5% from one year ago. Median price: $311,800, up 2.1% from June 2022.
  • South: Sales decreased 5.4% from May to an annual rate of 1.91 million, a decrease of 16.2% compared to the previous year. Median price: $366,600, down 1.2% from a year ago.
  • West: Sales fell 5.1% from the previous month to an annual rate of 750,000, down 22.7% from a year ago. Median price: $606,500, down 3.4% from June 2022.

Data sourced from NAR

NORTH PADRE ISLAND HOUSING REPORT – JUNE 2023

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for June 2023. Our active listing median prices fell slightly the past month to $433,250 this past month which is 3.2 % increase than where it was compared to last June at this time!
CCAR shows us the data that significantly rising for active listings by 43.7% with a total of 217 properties this past month while inventory Has risen at 5.2 compared to 2.7 last year during the month of June.

Days on the market for sale are declining from last month with an average of 58 days and the highest categories for sales all with 22.2% of all the sales being priced between $300,000 – $749,999. The market is dramatically moving forward this summer the summer with properties available in many pricing categories. The North Padre Island’s newest development Whitecap NPI is nearly ready to start selling properties and we will have sales information shortly. The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in June on a seasonally
adjusted basis, after increasing 0.1 percent in May, the U.S. Bureau of Labor Statistics reported today. The monthly increase in all goods was primarily driven by the index for housing, which contributed more than 70% of the increase. Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment. We will watch mortgage rates carefully each month, but it actually has not hindered prices locally.

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 June 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-may-2023

PADRE ISLAND HOUSING REPORT – MAY 2023

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for May 2023. Our active listing median prices rose quite a bit the past month to $460,273 this past month which is 20.3% increase than where it was compared to last April at this time!
CCAR shows us the data that significantly rising for active listings by 73.8% with a total of 186 properties this past month while inventory Has risen at 4.2 compared to 1.9 last year during the month of May.

Days on the market for sale are declining from last month with an average of 60 days and the highest category for sales with 31.8% of all the sales being priced between $400,000 – $499,999. The market is heating up as we are moving into the summer. The Island’s newest development Whitecap NPI will be selling properties soon as constructions continues to boom on Padre island. The Consumer Price Index (CPI) rose 0.1 percent in May, down from 0.4 percent in April, while the yearly rate rose 4 percent, compared to 4.9 percent in April, the lowest yearly inflation rate since March 2021. Federal Reserve officials left interest rates unchanged this past week, skipping an increase after raising rates 10 times in a row since March 2022. Still, policymakers predicted that they might need to raise rates two more times this year to keep driving inflation downward.

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 May 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-may-2023

PADRE ISLAND HOUSING REPORT – APRIL 2023

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for April 2023. Our active listing median prices dipped slightly the past month to $390,000 this past month which is 0.8% less than where it was compared to last April at this time!
CCAR shows us the data that significantly rising for active listings by 62.8% with a total of 166 properties this past month while inventory Has risen at 3.6 compared to 1.8 last year during the month of April.

Days on the market for sale are increasing from last month with an average of 88 days and the highest category for sales with 36.0% of all the sales being priced between $300,000 – $399,999. The market is staying quite strong as we move closer to summer. The consumer price index rose 4.9% in April 2023, the smallest increase in two years, the U.S. Bureau of Labor Statistics said Wednesday in a monthly inflation report. The FED still showing signs of inflation continue to slow down if not holding steady. The Summer Housing market is right around the corner, and we are anticipating an extremely busy season.

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 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-february-2023

PADRE ISLAND HOUSING REPORT – MARCH 2023

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for March 2023. Our active listing median prices continue to rise the past month to $425,000 this past month which is 7.3& above where it was compared to last March at this time!
CCAR shows us the data that significantly rising for active listings by 54.6% with a total of 153 properties this past month while inventory Has risen at 3.1 compared to 1.8 last year during the month of March.

Days on the market for sale are steady from last month with an average of 79 days and the highest category for sales with 34.0% of all the sales being priced between $300,000 – $399,999. The market is keeping pace as we move deeper into Spring. The consumer price index eased to 5% in March 2023 on an annual basis, down from 6% in February, according to the U.S. Bureau of Labor Statistics inflation report. The FED still showing signs of inflation that is slowing a bit now. The Spring Housing market is well underway, and we are anticipating a very busy season.

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 March 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-february-2023

Happy Easter 2023

As Easter is upon us, it is a time for reflection and renewal. At Coastline Properties would like to take a moment to wish all of our valued clients and their families a very Happy Easter!

The Easter holiday holds special significance for many of us. It is a time to celebrate the promise of new beginnings, to reflect on the blessings in our lives, and to spend time with loved ones.

In the spirit of the season, we want to extend our heartfelt appreciation to each and every one of our clients for entrusting us with their real estate needs. We feel privileged to be a part of your home buying and selling journey, and we look forward to continuing to serve you in the years to come.

We also recognize that the past year has been challenging for many of us, and we want to express our gratitude for your continued support and trust in our team. We are committed to providing the highest level of service, expertise, and guidance to help you achieve your real estate goals, no matter what challenges may arise.

As we celebrate this joyous occasion, we hope that you and your loved ones enjoy a wonderful Easter filled with love, laughter, and the promise of new beginnings. May the beauty and hope of the season bring you peace, happiness, and many blessings.

Thank you again for choosing Coastline Properties as your trusted partner in all of your real estate endeavors. We wish you all a Happy Easter!

PADRE ISLAND HOUSING REPORT FEBRUARY 2023

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for February 2023. Our active listing median prices have risen the past month to $410,250 this past month which is 6.3& above where it was compared to last February at this time!
CCAR continues to show us the data that shows active listings rising 26.3 % with a total of 144 properties this past month while inventory Has stayed steady at 2.8 compared to 1.0 last year during the month of February.

Days on the market for sale are climbing a bit from last month an average of 80 days on the market and the highest category for sales with 37.5% of all the sales being priced between $300,000 – $399,999. The market is keeping pace as we move into Spring. The Consumer Price Index declined from 6.4% to 6% in the last 12 months ending in February, continuing an eight-month trend of declining annual inflation. The FED meets next week to decide whether they will move the rate again to continue to fight inflation this year. The Spring Housing market is underway, and we are anticipating a very busy season.

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 February 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-february-2023

PADRE ISLAND HOUSING REPORT – JANUARY 2023

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for January 2023. Our active listing median prices have stayed very stable through the holidays at $370,000 this past month which is exactly where it was compared to last January at this time!
CCAR continues to show us the data that shows active listings rising 25.7 % with a total of 132 properties this past month while inventory Has stayed steady at 2.6 compared to 1.8 last year during the month of Janaury.

Days on the market for sale have had a slight rise to an average of 63 days on the market and the highest category for sales with 37.5% of all the sales was priced between $300,000 – $399,999. The market is still holding up quite well for the beginning of the year as we head toward Spring Break. CPI Data has shown inflation is still lowering, and the fed still seems committed to getting inflation down to 2% and continues to signal more .25 basis points likely coming by the first quarter of 2023.

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 January 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-november-2022

THE GULF COAST’S NEWEST LUXURY MASTER-PLANNED DESTINATION COMMUNITY IS COMING TO PADRE ISLAND

whitcap-project-padre-island-ashlar-development

DOWNLOAD FULL DETAILS ON WHITECAP NPI PROJECT (CLICK HERE) 

It’s a done deal! The roughly 240-acre master-planned community of Whitecap North Padre Island has received unanimous approval from the Corpus Christi City Council (NPI). Over 600 residential residences and homesites are planned for this $800 million development, along with more than 50 acres for a town center, a nature preserve, and other amenities.

Between the Gulf of Mexico and Laguna Madre, Whitecap NPI is a unique refuge that encourages enjoyment of and access to natural wildlife, including Kemp Ridley Sea Turtles and more than 380 migratory, over-wintering, and resident bird species.

This legacy project is being developed by Ashlar Development LLC and is owned by Diamond Beach Holdings, a fully owned subsidiary of International Bancshares Corporation.

Whitecap will be a unique and exciting new development that offers a water-centric way of life, modern, fresh house designs, and a thriving retail and commercial center within the neighborhood. Anywhere in the United States, the combined ambiance created by this once-in-a-lifetime concept will embody the next chapter in coastal culture. According to Steve Yetts, president of Ashlar Development, “It is destined to become the most prominent coastal community on the Texas Coast, if not the entire country.”

Whitecap NPI, which features coastal contemporary architecture everywhere, will raise the bar for seaside living. The residences are situated on island enclaves, providing distinctive neighborhoods connected to the rest of the community by bridges and pathways, many of which include canal access for boating and water sports.

The Whitecap NPI community is anticipated to have amenities like kayaking, paddle boarding, activity centers, pools, a nature preserve with walking trails, multimodal paths with golf cart access, a proposed luxury marina with state-of-the-art dry-stack boat storage, and a public town center with a planned resort-style hotel, shops, and restaurants, as we can see. The community is focused on scenic waterfront living, boardwalks, green space, and easy access to more than 52 acres of canals.

The Whitecap community will serve as a catalyst for economic activity on both the island and the mainland, according to Corpus Christi Mayor Paulette Guajardo. All locals will benefit from the new and expanded services, the better water quality and infrastructure, the bridge access for boats and walkers, and the large city revenue that will result from this high-quality development.

The Whitecap NPI site, which is on one of the longest undeveloped barrier islands, is essential to the prairies and marshes along the Gulf Coast where the nearby waters serve as a vital habitat for marine and terrestrial plants and animals throughout the year.

“IBC Bank has a long history of supporting South Texas by making investments there. We are dedicated to making Whitecap NPI a premier neighborhood in Corpus Christi and the surrounding area. We have always understood the significance of this site and how it might lead to favorable changes for Corpus Christi and North Padre Island. IBC Bank’s Director of Public Affairs Jennifer Hoff remarked, “As a result, we have been very cautious to build an engaging community where nature can balance itself alongside development for the long-term benefit of the environment, people, and visitors.

The infrastructure and canal network connecting the beach to the bay, which will serve as the community’s basis, are now being built. In the first quarter of 2023, there will be an opportunity to reserve lots by visiting http://www.whitecaplivingnpi.com

PADRE ISLAND HOUSING REPORT – DECEMBER 2022

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

PADRE ISLAND HOUSING REPORT – NOVEMBER 2022

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for November 2022. Our active listing median prices have fallen to $369,000 this past month which is a fall of 3.9% compared to last November at this time!
CCAR continues to show us the data that shows active listings rising 39.6 % with a total of 148 properties this past month while inventory Has a slight decline to 2.7 compared to 1.8 last year during the month of November.

Days on the market for sale have risen to an average of 54 days on the market and the highest category for sales with 31.4% of all the sales was priced between $300,000 – $399,999. The market has softened a bit which is very typical for the Holidays. CPI Data has shown inflation is still lowering, and the fed still seems hawkish with their latest rate hike of .50 % with a commitment to continue raising rates until they get to see solid downward pressure on inflation with the upcoming March 2023 meeting.

Coastline Properties has been weathering the conditions of different markets since 1995. Our market is very unique and the word over the bridge and up North is “Padre Island is on the move.” There is more dirt turning on our little sandbar right now than we have seen in decades, exciting times ahead for residents.

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 November 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-november-2022

PADRE ISLAND HOUSING REPORT – OCTOBER 2022

The Local Real Estate Market active listing median prices have risen to $410,000 this past month compared to last October at this time!
Corpus Christi Association of Realtors continues to show us the data that shows prices have jumped significantly to 32.6% in median price homes while inventory Has been rising 2.9 compared to 2.2 last year during the month of October.

Days on the market for sale have lessened to an average of 41 days on the market and the highest category for sales with 34.2% of all the sales was priced between $500,000 – $749,999. The market is still stable but edgy as the Holiday season is here, we are keeping our eyes on those mortgage rates and whether the FED will raise benchmark interest rates this month. CPI Data has shown inflation to be cooling off a bit, no telling how markets will react but rest assured our Island is still going through its boom with all the construction projects underway.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. Our market is very unique and the word over the bridge and up North is “Padre Island is on the move.” There is more dirt turning on our little sandbar right now than we have seen in decades, exciting times ahead for residents.

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 October 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-september-2022

PADRE ISLAND HOUSING REPORT – SEPTEMBER 2022

The Local Real Estate Market active listing median prices have risen to $409,450 this past month compared to last September at this time!
Corpus Christi Association of Realtors continues to show us the data that shows prices up 11.6% in median price homes while inventory Has been rising 2.7 compared to 2.0 last year during the month of September.

Days on the market for sale have risen to an average of 49 days on the market and the highest category for sales with 24.2% of all the sales was priced between $500,000 – $749,999. The market is stable but cooling off quite a bit now as we head toward the holidays, we are keeping our eyes on those mortgage rates and whether the FED will raise benchmark interest rates in their November 2022 meeting.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. Our market is very unique and the word over the bridge and up North is “Padre Island is on the move.” There is more dirt turning on our little sandbar right now than we have seen in decades, exciting times ahead for residents.

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 September 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-september-2022

PADRE ISLAND HOUSING REPORT – AUGUST 2022

The housing market on Padre Island this year is like sitting in the shade in August; slightly cooler but still fairly warm. We are seeing some slowdown and some increase in new listings. We saw listed homes reducing – even before the Labor Day holiday this year.

It is true, that homes are starting to take a little longer to sell, and of course, that means sellers reducing their asking price. The pandemic led to a surge in demand as so many Texans wanted larger homes and more space. Millennial buyers also entered the market. The lower interest rates several months back enticed buyers into the market. We also saw a lot of activity in new home construction but also a lot of remodeling. Normally you see one or the other….not both at the same time.

Homes now are taking a little longer to sell. The elephant in the room will be what it will take to get inflation back in order. Typically, the more one fights inflation, the more likely you are to go into recession. Consumer confidence is slowing things down which is reflected in our housing sales. We have weathered downturns and crashes before. Even with the home price growth this past year we’ve experienced, we’re still relatively more affordable than the other coasts. August was a decent month on Padre Island. I believe the reduced price levels we’re at now are more reflective of where they’re going to be for a while.

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 July 2022 Data (Click Pic below for Larger Image)

TIPS FOR WHEN A HOMEOWNER PASSES AWAY

The home changes hands.  It could pass to a surviving spouse or child whose name is on the deed, or be bequeathed to the family as part of the homeowner’s estate.  Often  times, the family simply wants to sell the property.

  1. Talk to the Executor:  The deceased homeowner’s will should name an executor.  Only that person can make financial decisions for the estate, including setting the asking price.
  2. If No Will….if the homeowner died without a will, the estate may go to probate court.  The purpose of court involvement is to protect the rights of the family, those entitle to receive property, and the creditors of the deceased person’s estate, according to the Texas Bar Association.  State law governs who inherits what if the estate has no will.
  3. Bill to Pay?….The estate is required to pay outstanding debts.  The executor must make sure the estate has enough money to cover them.  Texas is one of nine community property states, meaning relatives may be required to pay off the deceased person’s debt.  One will want to make sure there is nothing preventing the sale of the property.

It is stressful to handle the paperwork and make decisions while mourning.  Always be understanding and sympathetic.

~ Cheri Sperling, Owner Coastline Properties

 

STAY COOL MY FRIENDS

Helter swelter, you could fry an egg on the sidewalk! Eat the egg, but don’t BE the egg. If you follow these 10 tips, you may actually find that there are ways to enjoy the dog days of summer. Our bodies, moods, and bills take a toll during the scorching summer heat, but don’t let the temperature and humidity keep you from the beach, outdoor entertaining, and boating. Stay cool, my comPADREs.

  1. Clothing is your friend. It seems instinctual to remove as many items as possible without fear of an arrest. However, loose, long garments made from natural and breathable fibers will actually keep you cooler than bearing it all. The shade from the clothing protects the body, and the loose fit allows air flow to evaporate sweat.
  2. Accessories are not your friend. You’re still cute without your statement metallic necklace and fun hoop earrings. These are sun magnets and could actually burn you. Furthermore, if you’re able to pull your hair off your neck, opt for that flouncy pony tail or bun. You want that breeze on your neckline (pressure point, which we’ll get to later). Sunglasses ARE an acceptable and encouraged accessory.
  3. As are hats. It’s believed that roughly 20% of our blood supply flows to our faces. Simply covering your head can lower the heat to the rest of your body. Hats, bandanas, and hooded tops can make all the difference. Dust off that floppy beach hat you wear only on vacation – it’s functional AND adorable!
  4. On the topic of fashion, light colors are better than dark. White, beige, and light pastels reflect the sun and keep you cooler, whereas its darker counterpart absorbs heat. Welcome, your new go-to trend for this season’s garb. Be bold, try mint!
  5. Speaking of herbs and trends…do as the traditional herbalists do and reach for those mint body washes, lotions, and oils. They have a cool and calming effect that when eaten or used on the skin can help fight the heat. See? I have given you the reason you’ve been searching for to slurp down that mint julep. Try dabbing a bit of spearmint or peppermint oil on your neck or chest for a quick burst of cooling sensation.
  6. AFTER your mint julep, get busy hydrating. This is possibly the No. 1 preventive measure you can take to stay cool. Drink as much water as your belly can handle. Your body actually won’t tell you that you’re thirsty until it’s too late, as thirst will usually come late in the dehydration process. Be proactive in your hydration. Don’t love water? Try lemonade, sports drinks, coconut water, or munch on some watermelon!
  7. That’s right, eating can help, too. Aside from the obvious choice snacks that are high in water concentrate such as cucumber, celery, lettuce and strawberries, a less obvious but surprisingly effective alternative is spicy food! I know, it seems counterintuitive to want to sip a bowl of hot chili, but studies show that eating spicy foods can cool the body by making you sweat and therefore lowering your internal temperature. Whip up a nice curry chicken salad or jalapeño guacamole and let your mouth do the work.
  8. Sunscreen, sunscreen, sunscreen. Protecting your skin does more than preventing you from premature aging, sun poisoning, and even skin cancer. Our intensely strong South Texan sun can burn even the most experienced sun worshipers in 20 minutes. Sunburns impact your body’s ability to cool itself down, therefore increasing your risk for dehydration. If you’re not on the sunscreen bandwagon, try an SPF 15. Anything is better than nothing.
  9. Cool your pulse points. These are the points on your body where you can easily feel your pulse – the skin is often thinner there and your blood vessels are closer to the surface. Cooling your blood helps cool your entire body. Tip: Keep a cup of water nearby to dab on the body’s cooling points: temples, wrists, knees, ankles, thighs and elbows.
  10. Seek shade. This may seem obvious, but compared to direct sun, shade can make the temperature up to 15 degrees cooler! There is a huge difference between an unbearable 100° and a lovely 85°. Can’t find shade? Make your own! Bring an umbrella to the beach, put a sail shade over your pool, or put an awning over your patio. If you can find some shade and a nice breeze (don’t have a hard time finding wind here!) you are sittin’ pretty.

Padre Island Housing Report – July 2022

The Local Real Estate Market active listings have moved up to 29.3% the past month compared to last July at this time!
Corpus Christi Association of Realtors continues to show us the data that leans toward Prices slightly lowering by 5.9% in median price homes while months of inventory Has been rising the past month.

Days on the market for sale have lowered to an average of 41 days on the market. 35.6% of all the sales in March were priced between $300,000 – $399,999. The Median Price of homes has fallen by 5.9% to a price of $363,000 compared to the same month in 2021. The market is stable but cooling a bit as we head toward Labor Day, eyes will be on the fed as they will make another rate decision by end of next month and this could easily influence the buyers out there to make their decisions before summer’s end.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. It’s a good time to get prepared and if you are a homeowner currently as we are now in Hurricane Season, it’s a great time to make sure your insurance and plans are in order for a potentially big season of storms ahead according to NOAA.

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 July 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-july-2022

HOW TO NAVIGATE THE MOST COMMON CHALLENGES IN A REAL ESTATE TRANSACTION

Those of you who have ever been a seller or a buyer in a real estate transaction likely know firsthand that the process can often be riddled with twists and turns. It is the job of your real estate professional to not only talk you through it all, but to bare the brunt of the stress for you by navigating the trenches on your behalf. Here is some advice for both buyers and sellers on what to expect of these three most common challenges.

Price

It’s no secret that sellers want the most for their property, and buyers would prefer a great deal.

Buyers: It can be fun to fantasize that the waterfront, east facing, fingtertip property in mint condition with a pool exists for pennies on the dollar. But, being unrealistic will only hurt your search and waste your time. Stick strictly to your budget and work with your top 3 must-haves. Then, be fair with an offer given the comps your agent can pull for you. This way you’re being fair to both yourself and the seller.

Sellers: Sit down with your agent and have the lengthy discussion that may be necessary to price your property properly. Compare past sales, run net sheets, look at all the numbers and know where you need to be to not only attract the most buyers, but to get what you need out of it. This will be helpful during negotiations as you’ll already know your bottom line.

Home Inspection

Inspections are the buyer’s way of performing due diligence on the property to know exactly what they’re getting in to. Inspections mark any and all deficiencies with the subject property, most importantly the ones concerning the “bones” (foundation, pipes, roof, etc), major systems (HVAC, plumbing, etc) and appliances. The buyer is permitted to make any desired repair requests of the seller after the inspection. If the parties cannot come to an agreement, the buyer is entitled to exercise their right to terminate during the time period prescribed and walk away from the deal without losing their Earnest Money Deposit.

Buyers: More often than not, you’re purchasing a previously owned home. Systems will very well be near their expected useful life, yet still functioning as intended. It can be unrealistic to expect a seller to replace said system. Be sure to ask that they do provide a very comprehensive residential warranty in exchange. New construction is more expensive for a reason.

Sellers: If something simply doesn’t work or is broken, it shows good faith to fix it or offer the buyer a comparable credit. Most inspectors will find the same deficiencies, so it’s in your best interest to work hard to compromise with a current buyer instead of letting a deal go and risk facing the same problem(s) with all future purchasers.

Financing and Appraisals

All the puzzle pieces have to fall in place for a borrower to secure a loan in time to close. Over the years, banks have significantly increased the paperwork requirements and scrutiny on buyers, and recent changes by the Consumer Finance Protection Bureau (CFPB) have changed the protocols between lenders and settlement agents. These cause difficulties for both parties. If a mortgage is involved, the bank must also complete an appraisal of the home. A satisfactory appraisal substantiates the agreed upon purchase price of the home. If the bank determines that the home’s value is less than the agreed upon purchase price, this can create problems. Without financing, there’s no deal and if there’s no deal, Earnest Money Deposit may be at risk.

Buyers: Refer to your agent for a local lender who is responsive and has a good reputation. Your pre-approval should be based on a detailed review of your financial accounts and include a credit check. Services offering “immediate” approvals that don’t require documentation should be avoided. Finally, do your homework while you’re searching for properties so that you’re ready to select your lender within a day or two of going under contract. When you find a property you love, ask your lender to prepare a few estimate sheets so you’re comfortable with the numbers and the type of loan that works best.

Sellers: Have your agent check in weekly with the buyer’s agent on how the loan process is coming along. You can even ask that they call the loan officer themselves and ask questions about what they have reviewed. Either way, you want confirmation that the lender is accessible and proactive with the file. An unresponsive lender makes life tough on the buyer and could cause possible delays, which is stressful on all. It happens, but constant communication will ensure there are no surprises and then even delays don’t seem as scary if everyone is informed on how the loan is moving along.

Having the knowledge that challenges will exist when buying or selling a home can make a world of difference.  You may not control all the events that happen to you, but you can control how you react to them.

Padre Island Housing Report – June 2022

The Local Real Estate Market active listings have jumped up by 36.7% the past month!
Corpus Christi Association of Realtors continues to show us the data that leans toward Prices slightly Rising in median price homes while Inventory Has been rising the past month.

Days on the market for sale have stayed steady at an average of 79 days on the market. 28.8% of all the sales in March were priced between $300,000 – $399,999. The Median Price of homes has risen additionally by 1.8% to a price of $420,000 compared to the same month in 2021. The market is stable at the moment, the fed will make its rate decision by next week and this could influence the buyers out there to make their decisions before summer’s end.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. It’s a good time to get prepared and if you are a homeowner currently as we are now in Hurricane Season, it’s a great time to make sure your insurance and plans are in order for a potentially big season of storms ahead according to NOAA.

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 June 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-april-2022

WHAT’S YOUR NORTH PADRE ISLAND STREET NAME MEAN?

A La Entrada – An expedition or journey into unexplored territory, or, in Spanish it means Entrance.

Almeria – A city of southeast Spain on the Gulf of Almería, an arm of the Mediterranean Sea.

Aloha – Hawaiian word used when greeting or parting from someone.

Aquarius – The Water Bearer, a zodiacal constellation – A good person who doesn’t judge.

Aruba – An island in the Netherlands Antilles, in the West Indies.

Atascadera – Atascadero in Spanish means stumbling-block.

Barataria – A bay in The Gulf of Mexico, off Louisiana (See Laffite).

Beaufort – An empirical measure that relates wind speed to observed conditions at sea or on land.

Binnacle – A built-in housing for a ship’s compass.

Blackbeard – Nickname of Edward Thatch who was a notorious English pirate who operated around the West Indies and the eastern coast of the American colonies.

Bonasse – Easy-going and simple-minded.

Bounty – A British naval ship commanded by Captain William Bligh, which was on a scientific voyage in 1789 between Tahiti and the West Indies when her crew mutinied.

Bowsprit – A spar, extending forward from the stem of a ship, to which the stays of the foremast are fastened.

Brigantine – A two-masted sailing ship, square-rigged on the foremast and having a fore-and-aft mainsail, often with square main topsails.

Broomsedge – Broom sedge: any of several grasses of the genus Andropogon.

Bullion – Gold or silver considered in mass rather than in value.

Cabana – A cabin, hut, or shelter, especially one at a beach or swimming pool.

Cabo Blanco – It’s a fishing village in northwestern Peru, or in Spanish, “White Terminal.”

Camino De Oro – In Spanish, meaning “Path to Gold.”

Camino De Plata – In Spanish, meaning “Path to Silver.”

Canadian Mist – A brand of Blended Canadian whisky produced by the Brown-Forman Corporation.

Capstan – A revolving cylinder with a vertical axis used for winding a rope or cable, powered by a motor or pushed around by levers.

Captain Kidd – 1645(ish)–1701, he was a Scottish navigator and privateer who was hanged for piracy.

Caravel – A small, fast Spanish or Portuguese sailing ship of the 15th–17th centuries.

Carlos Fifth – Carlos THE Fifth is the name of a creepy looking candy bar from Mexico, what you call someone that does something in a stupid manner.

Cartagena – A seaport in SE Spain.

Catamaran – A yacht or other boat with twin hulls in parallel.

Cayo Cantiles – Cayo, in Taíno meaning “small island,” Cantiles in Spanish meaning “cliff.”

Cayo Gorda Ct – Cayo, in Taíno meaning “small island,” Gorda in Spanish meaning “fat.”

Cobo De Bara – Cobo, meaning “sea snail” and Bara in Hebrew means “heaven and earth.”

Commodores – A naval officer of high rank, in particular an officer in the US Navy or Coast Guard ranking above captain and below rear admiral.

Coquina Bay – A soft limestone of broken shells, used in road-making in the Caribbean and Florida.

Cozumel – In Mexico, the name was given to it by the Spaniards; however its origin is derived from the words Cuzam (meaning Swallow) and Lumil (meaning land of).

Crossjack – The lowermost square sail set on the mizzenmast of a ship or of a bark with four or more masts.

Cruiser – A relatively fast warship larger than a destroyer and less heavily armed than a battleship.

Cumana – A city in NE Venezuela founded in 1523 that is the oldest European settlement in South America.

Cutlass – A short sword with a slightly curved blade, formerly used by sailors.

Cuttysark – It is a British clipper ship built on the River Clyde in 1869 for the Jock Willis Shipping Line and was one of the last tea clippers to be built.

Dasmarinas – It is the largest city in the province of Cavite, Philippines. In the 19th century during the Spanish Colonial Period, Dasmariñas was originally called Tampus meaning “end of the forest.”

Dorsal – Relating to the upper side or back of an animal, plant, or organ. Fin – an unpaired fin on the back of a fish or whale.

Doubloon – A Spanish gold coin.

Dragonet – A marine fish that often lies partly buried in the seabed; the male is brightly colored.

Ducat – A gold coin formerly current in most European countries.

Dyna – Simply defined as “power.”

Eaglesnest – The nest of a bird built high up on a cliff or on the top of a mountain OR a room or building built high up so that people inside can see things happening below them.

El Soccorro – It’s a Portuguese-Spanish noun meaning “help” or “relief.”

Emerald – A bright green precious stone consisting of a chromium-rich variety of beryl.

Encantada – In Spanish, means “delighted” as in “pleased to meet you.”

Escapade – An act or incident involving excitement, daring, or adventure.

Finistere – Element which has reached the limits of its expansion.

Flintlock – An old-fashioned type of gun fired by a spark from a flint.

Forestay – A stay leading forward and down to support a ship’s foremast.

Fortuna Bay – Fortuna was the goddess of fortune and personification of luck in Roman religion and was represented as veiled and blind, as in modern depictions of Justice, and came to represent life’s capriciousness.

Grenadine – A thin fabric of leno weave in silk, nylon, rayon, or wool. Presently, a syrup made from pomegranate juice.

Gun Cay – Where the Lighthouse is located less than 10 miles south of Bimini.

Gunwale – The upper edge of the side of a boat or ship.

Gypsy – A nomadic or free-spirited person.

Halyard – A rope used for raising and lowering a sail, spar, flag, or yard on a sailing ship.

Hawksnest – The nest of a bird of prey OR a house located high on a hill or mountain.

Highland Mist – A Blended Scotch Whisky.

Isabella – A wine made from the fox grape. Also, Queen Isabella  of Castile whose marriage to Ferdinand of Aragon in 1469 marked the beginning of the modern state of Spain.

Isla Colon – Isla meaning Island in Spanish, Colon is a city of northern Panama at the Caribbean entrance to the Panama Canal.

Isla Pinta – Isla menaing Island in Spanish, Pinta was the fastest of the three ships used by Christopher Columbus in his first transatlantic voyage in 1492.

Jackfish – A pike or sauger, especially the northern pike.

Jacktar – It was a common English term used to refer to seamen of the Merchant or Royal Navy. By World War I the term was used as a nickname for those in the U.S. Navy.

Jibstay – In schooners, the stay to which jibs are hanked.

Jolly Roger – A pirate’s flag with a white skull and crossbones on a black background.

Keel  – The longitudinal structure along the centerline at the bottom of a vessel’s hull, on which the rest of the hull is built, in some vessels extended downward as a blade or ridge to increase stability.

Key Largo – The largest island of the Florida Keys.

King Phillip – [War] (1675–77) the first large-scale military action in the American colonies, pitting various Indian tribes against New England colonists and their Indian allies.

La Blanquilla – (N) A very small coin, A Californian fish, A white grape.

Laffite – Pirate Jean Lafitte: he and his brothers smuggled goods to local merchants through the La Barataria (See Barataria) berth on the Louisiana coast in the early 1800s, after the Embargo Act of 1807 barred such trades. Barataria was far from the U.S. naval base, and ships could easily smuggle in goods without being noticed by customs officials. Later, legend has it, he came to our own Packery Channel, as, when pursued, Lafitte’s shallow draft boats could escape into the knee-deep Laguna Madre where larger boats could not follow. Folklore says that he buried treasure here, right near the Port A jetties, and marked it with a golden dagger. 

Lafitte – See Laffite. Pirate Jean Lafitte and his elder brother, Pierre, spelled their last name Laffite, but English-language documents of the time used “Lafitte.”

Lanyard – A rope threaded through a pair of deadeyes, used to adjust the tension in the rigging of a sailing vessel.

Leeward – On or toward the side sheltered from the wind or toward which the wind is blowing; downwind (see opposite, Windward).

Longboat – A large boat that may be launched from a sailing ship.

Main Royal – [mast] Part of the mainmast situated immediately above, and generally formed as a single spar with, the main topgallantmast.

Man O War – An armed sailing ship.

Mingo Cay – An island of the United States Virgin Islands.

Mizzen – The mast aft of a ship’s mainmast.

Mutiny – An open rebellion against the proper authorities, especially by soldiers or sailors against their officers.

Nemo – In Oromo it means “The Man,” but in Latin, the same word means “Nobody.”

Palmira – A city of western Colombia southwest of Bogotá where coffee and tobacco are grown.

Palo Seco – In Spanish means “without anything else.”

Peseta – The basic monetary unit of Spain (until replaced by the euro).

Pionciana – A tropical tree with showy red or red and yellow flowers.

Playa Del Rey – Spanish for “Beach of the King.”

Port Royal – It is a city located at the end of the Palisadoes at the mouth of the Kingston Harbour, in southeastern Jamaica founded in 1518.

Portillo – It literally means “small port” from Latin portus.

Ports O Call – An intermediate port where ships customarily stop for supplies, repairs, or transshipment of cargo.

Primavera – The hard, light-colored timber of a Central American tree.

Punta Bonaire – In Spanish, Punta: point, Bonaire: an island in the E Netherlands Antilles.

Punta Espada – In Spanish, Punta: point, Espada: sword.

Quarterdeck – The part of a ship’s upper deck near the stern, traditionally reserved for officers.

Queen Johanna – She was Queen of Naples and Countess of Provence and Forcalquier from 1343 until her death. She also reigned as Princess of Achaea and claimed the crowns of Jerusalem and Sicily.

Reales – A unit of currency in Spain for several centuries after the mid-14th century.

Royal Fifth – An old royal tax that reserves to the monarch 20% of all precious metals and other commodities acquired by his subjects as war loot, found as treasure or extracted by mining.

Sabre – A heavy cavalry sword with a curved blade and a single cutting edge.

Salt Cay – The second largest of the Turks Islands.

San Felipe – A city in NE Venezuela, on the Orinoco River.

Skysail – A triangular sail set on a stay between the fore and main trucks of a racing schooner.

Tajamar – Spanish for the cutwater.

Tesoro – Spanish for the word treasure.

Three Fathoms Bank – Fathom: a unit of length in the old imperial and the U.S. customary systems, used especially for measuring the depth of water.

Topgallant – The section of a square-rigged sailing ship’s mast immediately above the topmast.

Topsail – A sail, or either of a pair of sails, set immediately above the lowermost sail of a mast and supported by a topmast.

Tortuga – Spanish for the animal Turtle.

Verdemar – Spanish for the color sea-green.

Vincent – From a Latin word meaning “conquering.”

Whitecap – A small wave with a foamy crest.

Windjammer – A merchant sailing ship.

Windward – The side or direction from which the wind is blowing.

Yardarm – The outer extremity of a ship’s yard.

Padre Island Housing Report – May 2022

The Real Estate Market continues to soften a bit with Mortgages rates getting bumped up now due to the Federal Reserve raising rates 75 basis points. Padre Island, is still hot for relocations & second homes, things are definitely shifting more and more each day now with more uncertainty in the world.

Stock market conditions are still uneasy out there and America is taking a much slower approach to big purchasing decisions given our inflation report coming out with a CPI at levels we haven’t seen in decades.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. It’s a good time to get prepared and if you are a homeowner currently as we are now in Hurricane Season, it’s a great time to make sure your insurance and plans are in order for a potentially big season of storms ahead according to NOAA.

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 May 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-april-2022

Padre Island Housing Data – April 2022

America’s home buying binge seems to be coming to an end. Our specific area, Padre Island, is still hot for relocations & second homes, but we are starting to sense a shift and data is beginning to support this sense.

Home sales have tumbled for the third month. Cash buyers are beginning to be fewer and disappearing. Even though mortgage rates eased this past week many buyers are pulling back from the housing market. The stock market is scaring people. Where is our economy going?

Before long, and we’ve seen this before, there will come a time when buyers and sellers are not knocking down a sellers door. Many of we real estate brokerages are beginning to prepare for the upcoming market changes. Our real estate inventory is beginning to rise, ever so slightly, and fewer sold/closings.

We’ve been here before…..get prepared.

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 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-april-2022

Padre Island Housing Data – March 2022

The Local Real Estate Market prices moving up sharply this Spring 2022!
Corpus Christi Association of Realtors continues to show us the data that leans toward Prices Rising in median price homes while Inventory Has been Lowering the past month.

Days on the market for sale have decreased now to an average of 75 days on the market. 29.5% of all the sales in March were priced between $300,000 – $399,999. The Median Price of homes has risen additionally by 11.2% to a price of $395,000 compared to the same month in 2021. The market is certainly holding steady and it’s still a very good time to list your home with inventory still quite low and the spring buyers with cash are looking at getting in the market before Memorial Day.

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 March 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-march-2022

Padre Island Housing Data – February 2022

The Local Real Estate Market continues to stay in a very positive direction with prices!
The Coastline Team along with the Corpus Christi Association of Realtors continues to keep a sharp eye on market conditions…The 2 notable areas we continue to watch are the decrease in inventory, and a standard 30-year rate fixed mortgage now up a little over 1.5% from the start of the year averaging 4.56% according to BankRate.com

Days on the market for sale have increased now to an average of 103 days on the market. 41.8% of all the sales in January were priced between $200,000 – $399,999. The Median Price of homes has risen additionally by 8.3% to a price of $390,000. The market is certainly holding steady and it’s still a very good time to list your home with inventory still quite low and the spring buyers are already out looking.

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 February 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2022

Padre Island Housing Data – January 2022

The Local Real Estate Market has started the year off in a positive direction with prices!
As we monitor the market closely…The 2 notable areas to watch are the amount of inventory nearing lows, and a standard 30-year rate fixed mortgage up a little over 1% from last month as we eagerly await the FED’s decision by end of the 1st quarter regarding tapering and its possible impact on market conditions.

Days on the market for sale have decreased to an average of 68 days on the market. 39% of all the sales in January were priced between $300,000 – $399,999. The Median Price of homes has risen substantially by 23.6% to a price of $370,000. The market is certainly holding steady and it’s still a decent time to list your home with inventory still quite low and the spring buyers are already out looking.

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 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2022

It’s 2022, but what’s in? New vs. Existing Homes

Padre Island Corpus Christi

….started developing in the 70’s, and with numerous projects including a new water exchange bridge and a marina, the island is becoming the most valuable real estate in the city. It seems like building your dream home has been on the upward trend. But what are the advantages of an existing home? A buyer has one of two options: Embrace the new or embrace the existing. Here are some variables that outline the pros of each!

Character and Uniqueness

New: Build the character that you want! Do you like the bay windows of a Victorian, the half-timbering of a Tudor, and a central chimney of a Colonial home? You have the liberty to mix and match!

Existing: You get true history, vintage hardware, and maybe a hidden crawl space! Personality shines through, as this house is less likely to look like your neighbors.

Bang for your buck

New: If you’re building, you can choose which materials to splurge on, and where to cut costs. Go for brick on the exterior, but laminate floors on the interior. If a huge crystal chandelier in your entry reigns supreme, consider offsetting your must-haves with less expensive detailing in other areas.

Existing: You can often get a larger, older home for less per square foot than you might pay in a new home. Looking to gain a little profit? Flip it!

Quality Craftsmanship

New: Builders have fine-tuned their skills and in a timely manner! The average 3-bedroom house can go up in about 4-5 months. Here, you can get efficiency, and have it done quickly.

Existing: In years past, craftsmanship was an art and materials are more likely to be the real deal: Brick, hardwood floors, custom molding.

Desirable Location

New: You have options! Keep in mind, acting fast is important as there are fewer and fewer lots to buy, or houses to renovate or demolish. With the right vision and plan, you can have the location of your dreams.

Existing: More times than not, the fabulous locations were snatched up a long time ago. Location, location, location. You’ve heard it a thousand times. But that’s because it’s important! Here on Padre Island, the first homes built probably have the best views and the biggest lots.

Test of Time

New: You don’t have to wonder how previous owners treated the property. If you maintain your home and property, it is probably going to last you a very long time. The ball is in your courtyard!

Existing: If the home is still standing, something was done right! This goes hand in hand with the craftsmanship. If properly built, that house will last to see many generations play capture the flag and to host decades of turkey dinners.

Landscaping

New: You have a blank canvas! Plant the trees, bushes, and flowers that you want to see grow over the years. Prefer the maintenance-free kind of yard? Rock out with a rock garden.

Existing: Mature landscaping can be a huge advantage to buyers and sellers. It takes many years for trees to grow big! The older the home, the bigger the trees. They provide privacy, shade, curb appeal, and heck, they can even increase the value of the home!

Grandfather Clauses

New: Your home will be up-to-date with all the most recent requirements.

Existing: When a new zoning ordinance or code comes into effect, these older homes will likely be granted a grandfather clause, meaning they are not in violation of the law. For instance, you may be given a grandfathered rate of flood insurance in a place where the risk of flood has since increased. Always ask about grandfather clauses on an older property – you may be pleasantly surprised by what advantages you have over your neighbors!

There is so much to consider, and lots of options awaiting you on Padre Island. Best of luck in your adventures!

3 Things To Think About Before You Sell

It’s exciting to put your house on the market. It can also be nerve-wracking. How do you make sense of all the options and decisions? There are a few things to bear in mind:

Is it Time and Money Well Spent?

Be aware that you may not be able to recoup all of your remodeling costs when you sell your home with a remodeled 1970’s style bathroom for exampe. Some remodeling decisions, such as using out-of-style materials, make it more difficult to sell a home. Other improvements may be required to attract any reasonable offers. Additional considerations include the condition of surrounding homes for sale, the home’s price range, and whether current market conditions favor buyers or sellers.

What Benefits Every Household

It pays to keep your home clean, uncluttered, appealing, and free of small annoyances, regardless of its size, age, price, or location. A fresh coat of paint and a few potted plants go a long way toward making a good first impression. Sticking doors, an overgrown yard, or dripping faucets, on the other hand, can turn buyers off before they ever give your property a chance.

Don’t Mistake the Importance of This

Your asking price is perhaps the most crucial issue. A figure that is too high may discourage offers and leave the property unsold, while a number that is too low may create a bidding battle that drives offers higher than you ever imagined. Elements outside your control may also dictate price, such as market conditions and time constraints to sell.

Your REALTOR® is the trusted professional who can guide you through the entire process of selling your home.

Padre Island Housing Data – Dec 2021

WHAT DO SUPPLY AND DEMAND TELL US ABOUT TODAY’S HOUSING MARKET?

There’s a well-known economic theory – the law of supply and demand. Elevated demand persisted as homes averaged roughly one month on the market and after multiple offers coming in. When demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is VERY HIGH and supply is VERY LOW, prices can rise significantly.

If you’re waiting to enter the market because you’re expecting prices to drop, you may end up paying more in the long run. Even if price increases occur at a slower rate this coming year, prices are still projected to rise. That means the property of your dreams will likely cost even more in 2022.
The bottom line is, high demand and very low supply on Padre Island are what’s driving property prices in today’s real estate market. And while prices may increase at a slower pace in the coming months, experts still expect them to rise.

If you’re a potential real estate buyer, connect with your trusted REALTOR today to discuss what that could mean for you if you wait even longer. It’s a seller’s market and they feel if you don’t buy their property, the next one will.

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 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-dec-2021

Padre Island Housing Data – November 2021

The Local Real Estate Market is still going strong as we turn the corner into 2022!
Low inventory, consistent low interest rates that are still holding right now until the first quarter of 2022, where will see a likely small rate hike according the recent FED meeting.

Days on the market for sale has decreased to an average of 33 days on the market. 48.8% of all the sales in November were priced between $300,000 – $499,999. Median Price of homes has risen slightly by 10.8% to a price of $384,000. The market is certainly holding steady and it’s a still a phenomenal time to list your home with inventory nearing it’s lowest point of the year with increased buyers looking for their dream homes.

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 November 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-oct-2021

Padre Island Housing Data – October 2021

The Local Real Estate Market is still doing well as we head into 2022!
Low inventory, bidding wars, and with continued low interest rates holding right now, 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 35 days on the market. 25% of all the sales in October were priced between $200,000 – $299,999. Median Price of homes has risen slightly by 3.6% to a price of $309,250. The market is certainly holding steady 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 October 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-oct-2021

Homeowners Uncertain About Selling Right Now

Many homeowners are making difficult decisions on whether it’s a good time to sell or not. After all, home appreciation has risen tremendously over the past year, and the temptation may be stronger than ever.

Homeowners typically sell their homes after 16 years, according to U.S. Census Bureau data. About 20.2 million homeowners have purchased their home in the last 10 to 19 years, which would mean many of them may be feeling that desire to move, notes the National Association of REALTORS® Economists’ Outlook blog.

“Although the market typically slows down in fall, there is still stiff competition among buyers, with multiple offers for each home due to low inventory,” writes Nadia Evangelou, NAR’s senior economist and director of forecasting, on the association’s blog. “As a result, sellers continue to have strong negotiating power as most of them are able to sell their home for higher than the asking price.”

Homebuying activity remains strong this fall, even if reports do indicate it has slowed somewhat from the ultra-busy summer. Buyer demand continues to outpace supply. Eighty-seven percent of homes sold in August were on the market for less than a month, according to NAR data.

Also, for home sellers who also have to buy, they can still take advantage of historically low mortgage rates. Rates are expected to rise over the next year. Last week, the 30-year fixed-rate mortgage averaged 3.05%, according to Freddie Mac.

Bidding wars are still occurring too. About four offers were received on each closed home sale in August, according to real estate professionals surveyed for the REALTOR® Confidence Index survey for August.

home-owners-looking-to-sell-corpus-christi

Source: REALTORS® Confidence Index Survey, August 2021

A recent report on HomeLight says that certain homeowners especially should consider selling now, like those desiring to trade up and wanting to lock in a low mortgage rate; those who are looking to maximize retirement funds; and homeowners who have a current house that may need some work (seller’s markets tend to offer homeowners negotiation leverage in repairs).

Stacey Glenn, a real estate professional in Fort Myers, Fla., told HomeLight that it may cost home buyers about 10% to 20% more to purchase a home than a year ago, but buyers can still come out ahead in the long run, if they remain financially stable and stay in the house long enough for market appreciation.

On the other hand, HomeLight points out that homeowners may not want to sell if they recently refinanced their home; can’t afford current housing prices; or haven’t built up much equity yet.

Article Source National Association of Realtors

HOW TO APPROACH FALL SALE’S SEASON!

It’s hot here on the Island…is an 80-degree day too much to ask for? Although it is nearing the end of what most may consider real estate’s “busy” season, that doesn’t mean buyers are going anywhere, and it doesn’t mean owners will stop listing their homes. The show must go ON! As the market is still quite active, it’s critical to take a look at your spending, whether you are the buyer OR the seller. Here are some smart tips on how to save and spend this season to continue to get the most out of the current market.

BUYERS:

DO NOT overpay. Unless you find yourself in a bidding war for the home of your absolute dreams, there is not a single home like it, and you do not plan to leave…ever. Note: Do not fall victim to the county appraisal district’s “appraised value” on the property. They have not visited the property, know the amenities, comparables, etc. If you want a far more accurate value, hire a reputable appraiser who actually visits the home and runs their own detailed determination of real value.

DO get an inspection. It’s worth the couple hundred dollars. Do your due diligence and know what you’re buying. If there is a deficiency on a large ticket item, it’s best to find out ahead of time so you can budget for it in the future or you can ask the seller to help right the wrong. You do not want to find these deficiencies later, once the sale is over, and you haven’t budgeted for them.

DO NOT make a lowball offer. Negotiating is normal, and it’s okay to not offer full price. But if you’re interested enough to make an offer, make sure it’s worth your time and the seller’s time. Your agent will be able to give their best advice as to what a good offer price would be, based on comparables and their knowledge of the market and area.

DO lender shop if you are not paying cash. Different lenders can offer different rates. Shop around, see with whom you can save and where.

DO NOT make large purchases prior to closing if you’re obtaining a loan. This is a huge expensive mistake, as it can alter your credit score and can actually take you from having loan approval to not. You can lose your property and in turn gain something of expense (whatever it was that you bought, albeit a car, boat, etc.).

SELLERS:

DO NOT remodel what won’t pay off. If you’re going to do some upgrading prior to listing your property, spend money in the kitchen. This is a room that’s important. Otherwise, less expensive updates you can do include painting, new hardware, fixtures and carpet. Gutting bathrooms and shellacking your garage floor is likely not worth the pay off.

DO price properly. Your listing agent will be able to guide you to a proper sales price, so use their knowledge! You’re paying them, after all. If your property is priced too high, it’s likely to not sell as quickly, wasting your money on months of bills, taxes, mortgage payments, etc., and likely not attracting the desired buyers who would be making offers.

DO NOT reject reasonable offers. Letting your emotions get in the way of your sale can be tough, but you do not want to push qualified buyers away because you’re not remembering that this is in fact business. At the very least, provide a counter offer.

DO disclose. If there are issues that you do know about, it’s the law to disclose known deficiencies. If you do not, this could turn in to a lawsuit. Now THAT is expensive!

Try to keep these Dos and Don’ts in mind while the summer comes to a close and the fruitful fall approaches, and you will be free from the most pricey mistakes that buyers and sellers tend to make. You work hard for your money, so keep your dollars where they will work for YOU!

 

Know Before You Owe

knowbeforeyouowe

When you are a Buyer, knowledge is power. And The Consumer Financial Protection Bureau knows that. They have worked diligently to make the loan process more transparent. The forms discussed below (the Loan Estimate and Closing Disclosure) were introduced to present less confusing information as to ensure consumers understand the terms of their loan and the fees they’re paying. Know before you owe!

To walk the walk, you have to talk the talk. Here is the new lingo and the new forms.

Let’s talk Terminology:

A lender is now a “Creditor”

The Good Faith Estimate (GFE) is now the “Loan Estimate” or LE for short.

HUD or Settlement Statement is now your “Closing Disclosure” or CD for short.

The GFE was meant to provide the buyer with a really good idea of what they’d be bringing to closing and the terms of their loan. But the rules behind its successor, the LE, are stricter and provide higher financial accuracy to the buyer. It includes the interest rate, fees for both creditor and third-party services (ie: appraisals, title insurance, closing costs, etc.)

Before you do anything, shop around for a lender and get prequalified for a loan. There’s little advantage to visiting with a Real Estate Agent until you know what you can afford.

First, you get prequalified, then you work with a Realtor who finds you the perfect home, and then comes your Loan Estimate.

SIX ELEMENTS TO GET THE LOAN ESTIMATE

  1. The consumer’s name
  2. The consumer’s income
  3. The consumer’s SSN to obtain a credit report (creditor shopping will NOT affect credit rating)
  4. Property address
  5. An estimate of the value of the property
  6. The mortgage loan amount sought

CLARIFY!

The prequal is NOT a Loan Estimate. If the consumer/buyer requests a preapproval or prequalification and provides 5 of these 6 elements in their application, the creditor will provide the prequalification, but is not yet obligated to provide the LE.

Only when the consumer provides all six elements of the application, the creditor must get the LE to the consumer within 3 Federal Business days (if the creditor is open on Saturday, then Saturday counts). Once provided, the LE holds true for 10 days once a property has been determined.

The home does not actually have to be under contract at this point, but it greatly benefits the buyer if it is. Without knowing which title company the contract will be at, your creditor can’t know the exact fees. With the new LE, the liability and financial accuracy weighs much heavier on the creditor than it did in the past. So what if there are differences presented on your final CD than those on your LE?  There are zero tolerance fees, and fees that fall between a 10% tolerance. So if there is a difference between your CD and your LE, depending on which category the miscalculation falls under, the creditor may have to pay.

Moral is, sellers want strong buyers. Preapproval from a creditor shows just that, which is why it’s critical to get that first. Present that to your Realtor, house hunt, get under contract, and request the LE. Leave the rest to your happy and knowledgeable Realtor.

We’ll leave the changes to the consummation (the new term for closing) for a later discussion…

Net-Zero Home?

Despite the sounds of it, this term does not apply to selling your home and seeing a fat ZERO on the Monies Owed to Seller at closing. This is FAR from a financial “wash” actually. It refers to energy efficiency! By definition, a net-zero home produces as much energy as it consumes. Most of us would agree that part of being a homeowner is watching our spending – trying to cut back on our utility bills is a big part of that. Seeing as most of us likely are unable to attain this completely, we can still utilize aspects that could help put a little jingle in the boat savings piggy bank.

Building Envelope – This is the physical separator between the conditioned and unconditioned spaces of your home. Ever see the sun through those minor gaps in your doors? Seal that up! Although your neighbors appreciate you cooling down the cul-de-sac, your energy bill doesn’t. Other areas to check are leaky ductwork and gaps in attic insulation (and wall insulation if you’re building a home).

Windows – If you’re like many Island residents with an older home, this may apply to you. By upgrading to double-paned, glazed, low-E windows, you’ll not only be saving energy, but you’ll also be better protected in the event of a hurricane. Go the extra mile by purchasing nice shades, too.

Lighting and Fixtures – Wherever possible, swap out your bulbs and fixtures for energy-efficient LED lighting. Install energy-saving ceiling fans in bedrooms and main living areas to assist your AC system with that extra boost of circulation.

Heating and Cooling – This is a big one as it accounts for well over 50% of interior energy bills. When your systems need replacing, do your homework. Three main areas to research: 1) AFUE rating; the closer to 100%, the more efficient; 2) SEER rating; a score of 16 SEER or higher is considered efficient; 3) Output Capacity; two-stage and variable-speed systems are the most energy-efficient. Consider installing a smart thermostat that will automatically adjust to your needs.

Green Power – Check your energy provider as they may offer an opt-in program for renewable energy sources.

YOUR Habits – Be mindful of our own usage and habits. A few tricks: 1) Close your blinds, curtains, or shutters on hot days and switch on your AC before the peak of the heat so it doesn’t have to work as hard. 2) Close off rooms you’re not using. 3) If you’re bad at turning off lights, install sensors in rooms like bathrooms and outside. 4) Remind your family members of the importance of turning off appliances when they’re finished with them.

Reduce your energy footprint as you’re able! Small changes can make a big difference. You can be comfortable, healthy, sustainable, AND no longer live in fear of the monthly mailbox utility bill. Live the COOL life.

SECOND HOME BUYING ON PADRE ISLAND TEXAS

I, for one, admire Winter Texans. They’ve got the right idea: Come to our piece of paradise, spend a few months, spend a few bucks, then repeat! Some come in RVs, others have a home/townhome/condo to which they retreat. The time is coming to welcome our Winter Texans back, and it’s the Winter Texan “way” that reminds me of one powerful investment tool – real estate of course! We are lucky enough to live in a place where many come to vacation. Whether you live here and want to capitalize on the growing rental market, or you’ve got relatives and friends to whom you’d love to persuade to do the same or invest in a vacation home…Get your own piece of Padre Island Pie!

But WHY is now a good time, and WHAT makes real estate this aforementioned “powerful investment tool”?

WHY:

With the population of the Coastal Bend steadily increasing, more businesses coming to the area, and the increasing amount of national attention we’ve gained over the past few years, it’s no wonder investors and second home buyers have piqued interest.

First thing is first, what are your goals? To be an investor, or to use the property for vacation and enjoyment? There is certainly NO wrong answer here!

WHAT:

But what are the elements of value to an investor? Well that depends on their commitment: Do they intend on having a long-term or short-term investment? Will they live there part-time themselves or will they use it as a rental? Property values and their projected appreciation may play a large role in a buyer’s intentions. So may tax depreciation, capital gains, and inflation hedge. As important as these matters are, they may be a little snooze-worthy. So let’s make it quick.

Let’s take a look at each of these potential advantages:

Projected Appreciation: This is a percentage that estimates what your property will be worth in the future. Of course nothing is promised, but the numbers could aid in the decision process.

Tax Depreciation: COULD help you maximize your tax savings. This is the depreciation that can be listed as an expense on a tax return, the gradual charging to expense of a fixed asset’s cost over its useful life.

Capital Gains: Another key tax advantages of owning investment property. Capital gains on investment real estate is the difference between the sales price and the cost of purchase and improvements. They’re taxed at either a short-term rate or a long-term or reduced rate.

Inflation Hedge: This has to do with the rent that’s charged to the tenant. Some leases have provisions for rent increases to be indexed to inflation. In other cases, rental rates are increased whenever a lease term expires and the tenant is renewed. Either way, real estate income tends to increase faster in inflationary environments, allowing an investor to maintain its real returns.

Selling: When rental properties are sold, the proceeds can be rolled into other rental property without paying capital gains taxes. This is called a 1031-Tax Exchange.

Now, what about those who’d like to get away from their primary residence and invest in a second home? Fortunately for many of us, you don’t have to be a part of the ultra-rich to own a second home! This, too, could be wise, even if it will only be used for family and friends and not as a rental.

Here are some helpful tips that may guide you in the right direction:

  1. Have money. This may seem obvious but daunting, but let me explain that it doesn’t mean millions in the bank. Unless you’re paying cash, your lender’s underwriter needs to see that you have adequate reserves (as often your downpayment will be larger for a second property).
  2. Consider your debt-to-income ratio. If it’s too high, this may be an issue for your lender.
  3. Spend time in the area, first! Know that you love the region and foresee wanting to be there often before buying there. Do your due diligence on the right neighborhood, the costs of maintenance, HOA dues, taxes, insurance, etc.
  4. Double the fun, but potentially double the work! Assess the yard – will you need someone to mow it while you’re not there? Will the pool need weekly maintenance?
  5. Work with an agent that is very knowledgeable about the area. Here in our Coastal Bend, most agents are accustomed to working with investors/second home buyers.

DO BOTH!

If you meet the less-than-14-day-or-10% test, you can write off all the usual expenses associated with owning a rental property. Or, if you rent the house a quarter of the time, for instance, a quarter of your mortgage interest, property taxes, utilities, insurance costs, and repair expenses are deductible against rental income.

The options and advantages seem to outweigh the fear of dabbling in real estate investing or owning a second home. Try it, you may become a mogul! So come and stay and play at your leisure, then make the money, honey!

How to Get Rid Of Those Summertime Pests

Pest-NoBugsSignThey fly, crawl, bite, invade and annoy! And the word is that this summer, they’re coming in larger numbers due to the increased rain we’ve received this spring.

The cockroaches are sneakier, the fire ants are terrorizing from their sandy mounds, the ticks hide in unmentionable places, and the mosquitoes are the size of small hummingbirds. Then of course, with lots of rain, comes lots of pretty flowers with lots of buzzing bees!

Here are some tips to still enjoy the summertime, spend time outside, and not end up itching, burning, screaming, and picking.

  1. First and most effective is to have your local pest control company come and spray your yard and home. Then when your landscapers come, ask them to blow the dead ones away.
  2. On that note, be sure to keep your yard maintained and cut regularly, as insects will lay eggs in your lawn.
  3. Clean your house and reduce any clutter. This gives them places to hide. Cockroaches in particular will be drawn to food in your pantry or pet food. Keep those items tightly sealed.
  4. Check your screens. Even the smallest of holes is equivalent to a fancy written invitation to a pest to enter.
  5. Get rid of outdoor lights. If you do need them, use yellow lights. The bugs are less attracted to those.
  6. Check your yard for standing water, which is the perfect breeding ground for mosquitoes, among other insects. Eliminate any standing water you do find.
  7. Plant onions in your garden. They HATE onions!
  8. Keep your trash covered or taken our regularly. Need I explain more?
  9. Use a Eucalyptus-based repellent or just plain old Eucalyptus essential oil (Walmart sells this) and rub it on your exposed skin. The bugs will stay far away from you.
  10. Don’t forget about your pets! Treat them and give them their monthly doses of flea and tick meds. Not only do we want them to be protected, but they provide a first-class ticket for these insects into your home.

Enjoy this amazing time of year, and don’t be bugged by the bugs!

The Hidden Eviction Win at the Supreme Court

 

Hi All!

It has been a monumental week for the CDC eviction ban, and a flurry of media stories may have rightfully left folks a bit confused, to say the least!

So, let me try and break it down for us.  Despite some misguided headlines, there actually was some excellent news this week on this very issue.

As you know, the Trump White House directed the Centers for Disease Control and Prevention (CDC) to act during the pandemic health emergency to ban all evictions nationwide.  The CDC under President Trump and then President Biden extended the moratorium several times, most recently through July 31st.

With the National Association of REALTORS backing and guidance, the Georgia and Alabama Associations of REALTORS sued in federal court, claiming the CDC lacked statutory authority to ban all evictions.

The was a strategic decision by the National Association of REALTORS (NAR).  In May, a federal judge struck down the ban as unlawful NATIONWIDE!  Although the case was won, the judge issued a stay of her ruling pending an appeal by the government, of course!

With so many housing providers suffering under a financial strain, NAR  immediately appealed to the D.C. Circuit Court and then to the Supreme Court to lift the stay.

Now, this is where it gets interesting. This week, four Supreme Court justices voted to end the stay immediately and, therefore, the eviction ban.  They agreed with all the merits of the case – that the CDC acted unlawfully!

A fifth justice also agreed on the merits, BUT he wanted the ban in place through the end of July to allow more time for an orderly transition – if that makes sense.

The bottom line:  A majority of Supreme Court justices are now on the record agreeing with the merits of the case that the CDC exceeded its existing statutory authority to bank all evictions.

So, even though the ban is here for a few more weeks, it is still a BIG win for property rights with the help of the National Association of REALTORS.

The CDC should not be able to do this again in a future emergence without going through Congress.  AND, for the FIRST time, the CDC eviction bank is coming to an end.

At an Eviction Prevention Summit yesterday at the White House with Domestic Policy Advisor Susan Rice, she said ‘Following the CDC’s announcement last week of an instant, one-month extension of the eviction  moratorium until July 31st, the Administration announced a series of actions to stabilize families and prevent evictions, including steps to encourage state and local governments to disburse the more than $46 billion in emergency rental assistance made available to assist households in need.’

NAR is pleased with the Administration’s effort to deploy rental assistance to struggling property owners much more speedily.

The NAR team fought for and helped secure billions in rental assistance in 2020.  They reached almost every single member of Congress on the issue and held meetings with the White House.  One of the most influential members of Congress said it would not have happened without NAR’s influence.  GO, REALTORS!!!   This is Who We Are…

Padre Island Housing Data May 2021

May 2021 Real Estate Housing Report just out!!

As of today, Padre Island has only 15 Waterfront homes listed For Sale.
From $489,900 to $3,200,000

1 – Listed for $489,900
3 – Listed in the $500,000 range
1 – Listed for $615,000
2 – Listed in the $700,000 range
1 – Listed for $874,900
1 – Listed for $989,500
6 – Listed for over $1,000,000
15 Waterfront Homes For Sale on Padre Island

The largest amount sold pricing was from $200,000 – $299,999 29.3%Sold The second amount sold pricing was from $300,000 – $399,999 22.4%Sold

See attached numbers.

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 May 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2021

Padre Island Housing Data – March 2021

Priced Right properties are going like hotcakes!

Priced Right properties are going like hotcakes! As of TODAY there are only
17 waterfront homes on the market For Sale on Padre Island. Pricing ranges from $439,900 to $3,200,000. There are 39 condos For Sale on Padre Island.
Pricing ranges from $75,000 to $509,000. With properties selling at a record pace, buyers are frustrated with being outbid. Bidding wars are happening around the country. Supplies are limited. Mortgage rates have dropped and millions of millennials are entering their home-buying years.

People with dreams of owning a home could be in for a rude awakening. The spike is happening as a result of the pandemic, as more people work from home or near the coast. Should I buy a home? Should I sell my home? This is the million-dollar question.

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 March 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2021

Padre Island Housing Data – February 2021

It has been roughly a year since the COVID-19 pandemic began in the United States, and more people than ever are buying residential real estate in vacation housing markets.

In a study of counties that have seen the largest uptick of homebuyers and subsequently, home value – the top 10 are all in either vacation destinations or relatively affordable areas of big cities. That’s in line with the country’s sweeping work-from-home mandates put in place last March, which allowed millions of people with the capital to buy a property realizing they could work – and live – anywhere.

A demand for second homes across the country has skyrocketed since last January. What remains to be seen is how the continued vaccine rollout and expected economic stimulus checks impacts the larger metro areas’ housing markets. With most people receiving immunizations from COVID-19, more workplaces opening up to their employees – in turn, drawing them back to the city to avoid commuting from suburbs and vacation areas such as Padre Island and Port Aransas.

Mortgage rates continue to increase as the economy improves with the labor market and vaccinations continuing to roll out and additional stimulus spending. Even as mortgage rates rise modestly, the housing market remains healthy on the brink of spring home-buying season.

Homebuyer’s demand is strong, and for homeowners who have not refinanced but are looking to do so, they have not yet lost the opportunity. Cash-out refi’s have exploded. Many economists expect home prices to keep growing.

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 February 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2021

WHAT YOU NEED TO KNOW ABOUT THE SELLER’S DISCLOSURE FORM

what-you-need-to-know-about-mortgages

This one form, filled out by the seller of a property, is more important than you may have realized. I compare it to a hard hat at a construction site. Seems overly precautious until a large piece of material falls from above and suddenly you’re awfully glad you had that protection!

In 1993, this form became mandatory, exclaiming that “Texans would be bound to truth in selling their homes…is designed to protect Realtors from the burgeoning number of ‘failure to disclosure’ lawsuits…the bill would require sellers to complete a disclosure form detailing the condition of the house, property and certain equipment within the house.”

What is it?

This statement is a disclosure of the condition of the property in compliance with the seller Disclosure Act. This statement is a disclosure of the condition and information concerning the property, known by the seller. Unless otherwise advised, the seller does not possess any expertise in construction, architecture, engineering, foundation, roof, or any other specific area related to the construction or condition of the improvements on the property or the land. This statement is not a warranty of any kind by the seller and is not a substitute for any inspections or warranties the buyer may wish to obtain. NOTE: For sale my owners are also legally required to provide this form.

Can your agent help you fill it out?

No. As Realtors, this would infringe on our duties to abide by the National Association of Realtors “Code of Ethics and standards of practice.” We are not lawyers and cannot give any advice or interpret any law regarding what the form says or means. If there are any questions, sellers need to consult an attorney.

Both TAR and TREC have a seller’s disclosure notice. Which to use?

Both forms are in compliance with the law. With that said, the TAR form is far preferred. It asks more questions, is far more thorough, is easier to fill out, spells out specific safety hazards the TREC form does not, is more useful for buyers and is designed to serve as a better risk-reduction tool for sellers. It is in your best interest as the seller to ask your agent to provide you with the TAR form.

Who is exempt from filling this form out?

There are 11 exceptions, but the most common are:

  • A builder of a new home
  • A trustee or executor of an estate
  • The lender after foreclosing on a property
  • Duplex owners

Even though these types of sellers (and a few others) are not required to provide a disclosure notice, they still must disclose any known material defects. Requirements of Section 5.008, all sellers have an obligation to disclose known defects about the property. Failure to do so exposes them to liability under the Deceptive Trade Practices Act or other civil laws.

What about previous death in the property?

The statute does not require disclosure of deaths by natural causes, suicide, or accidents unrelated to the condition of the property.

Previous Inspection Reports

If a seller bought the home within the past 4 years OR if a seller receives a copy of an inspection report from a buyer but the contract with that buyer falls through, the seller and brokers should consider sharing the report and they have a duty to disclose any known material defects. Possession of a prior inspection report may be evidence of the seller’s or broker’s knowledge of a known defect, although no law requires that the report must be provided.

Consequences When Sellers Don’t Disclose

A seller who doesn’t disclose known defects can be sued by the buyer after the defect is discovered. As a seller, you don’t want to look back after closing!

If a court finds the seller responsible, they may be required to:

  • Repairs and other damages resulting from the undisclosed defect
  • Pay the buyer’s attorney’s fees and costs of the lawsuit
  • Take back the house if the court invalidates or rescinds the sale
  • Punishment for punitive damages of failure to disclose defects

 

A surprise birthday party is fun…a surprise moldy house is not! Use of this form may result in fewer surprises to the buyer after closing and less liability for the agents and the seller(s). Don’t make your home sale any more challenging than need be. A seller’s accurate and honest disclosure is worth it.

Representative Todd Hunter Questions Grid Operators for Accountability

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

todd-hunter-press-release-ercot-2

Padre Island Housing Report January 2021

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)

 


padre-island-housing-report-jan-2021

Did You Know How Much Mortgage Rates Can Help You?

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!

Design Trends in 2021

destrends2016

“This home is so ’70s.” How many times have we heard a home identified by a year based on its appearance and finishes? Well, 2021 will be no different, as fun and fresh designs are sure to be trending.

Outdoors, Indoors

Here on the Island, we practically live outdoors most of the year! Designs are beginning to recognize this. Homeowners are working on bringing the outside in with things like plants, and double doors, and also purchasing furniture that can be used both indoors and out. Create a fluid space where the indoor outdoor living concept is seamless.

Geometric Tiles

Tile backsplashes aren’t a new concept, but what we expect to see in 2021 are using the tiles to create more geometric patterns that feature fluid movement. New materials for this are coming onto the scene such as cement and wood. Whether it is a backsplash, an intricately patterned floor or a countertop, fluid geometry is eye-catching and coming in strong this year.

White Appliances

With so many homeowners going with the trending white cabinets, white appliances just blend right in. Also, many are becoming tired of the maintenance from the marks and handprints that are so evident and inevitable that show up on stainless steel appliances. Try Ice White from Whirlpool. Slate kitchen appliances can also bring a classic and modern look and are gaining momentum.

Metallics, Metals, and Minerals

All trends come back around, and the 1950s and 1970s are hot fashion trends in 2019, and this will also translate to the home. Gold and metallic finishes are exceedingly popular right now. Retro bling, shine, and polished geodes will rock your home (pun intended). Accessorize with oversized bowls of fools gold, big chunks of quartz, or even unpolished semi-precious stones turned into door pulls. Go au natural!

Chevron is Out

Herringbone, Chevron, Zig-Zag, the fun and often colorful pattern was so 2020. If you are still a fan of it, try putting it in easily removable ways, such as an area rug or throw blanket. Don’t stick it up on a large wall. Instead, try solid-colored, textured fabrics, or even animal hide is in!

Bye Brass

Brass hardware is one design element that almost immediately outdates a home. Hardware is one incredibly easy and inexpensive way to update! To replace brass hardware or other knobs, be sure to choose a size that will cover the “footprint” of whatever is currently installed. For 2021, try brushed or satin nickel hardware. Magic.

Fake Wall Treatments

Solids are back. 2021 interior design approaches emphasize authenticity. The prevalent use of natural materials (back to minerals, above) goes back to midcentury modern design. That means it may be time to get rid of the fake wall treatments such as Tuscan paint finishes and marbled columns. Use a solid paint! It’s chic, clean, and IN.

Padre Island Housing Report – November 2020

3 Trends seem to be driving this fast-paced market!
Low inventory, bidding wars, and cheap mortgage rates are giving home buyers a sense of FOMA – fear of missing out – and heating up the competition.

To our surprise, the housing market has not only recovered but roared past pre-pandemic levels. Mortgage rates remain at record lows. Pending home sales are up over 20% from a year ago and the buyer traffic is up over 32% which ups the mortgage applications as well. This winter may be the best
ever for the housing market.

Days on the market for sale has decreased to an average of 78 days on the market. 45.4% of all the sales in November were priced between $200,000 – $399,999. Closed Sales were up a whopping 109.4% in the month of September. The market is certainly remaining strong with the interest rates still holding it’s a great time to find that dream home you have been waiting for or cash out that equity. We would be glad to navigate you to success!

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 November 2020 Data (Click Pic below for Larger Image)

 


padre-island-housing-report-september-2020

Padre Island Updates from Greg Smith, District 4

One of the important issues facing the Island is Short Term Rentals of homes.  Currently, Corpus Christi does not have an ordinance addressing STR’s as they are growing in popularity across the nation and particularly on the Island.  The Island Strategic Action Committee that advises Council has set up a subcommittee that has been meeting for recommendations and will address STR’s in their December meeting.  The PIPOA has sent out a questionnaire to homeowners for their input with a December 1 deadline.  The advice that the City Council receives from both of these organizations will have a significant impact on the City’s direction on any ordinance addressing short-term rentals.

After sixteen years it’s happening, the Water Exchange Bridge is under construction.  It has been quite a saga and one that came down to the wire.  When first proposed in 2004 the project was strictly water exchange consisting of large culverts that would not have allowed boat passage but would have had significant water movement that would greatly improve the water quality in the main canals.  As time went on plans were changed to elevating the bridge providing boat, golf cart and pedestrian access to both sides of the road.  To protect taxpayers from a “Bridge to Nowhere” it has been the City’s position that the canal should be dug first or monies escrowed.  This was reinforced by the original developer’s financial and legal issues on the adjacent property.  In 2017 the City bid the project contingent on the canal being built or sufficient funds escrowed to build it.  Twice the contract was extended to allow more time for the developers to come through on their side.  Then in 2019, the bridge was bid again with a six-month notice to proceed clause that allowed time for the canal to be built.  Part of the agreement was when the canal was substantially complete the City would issue a notice to proceed for construction.  The months kept passing by and still no activity on the Canal.  Finally, the dirt began to fly and one day before the contract was set to expire I walked the site with Peter Zanoni, the City Manager and he declared the canal digging substantially complete.  The rest is history and the bridge is on the way.

When the water exchange bridge is complete expect to see a complete change in the water quality in the main canals.  Currently, there is little to no circulation, creating oxygen-deprived, warm, stagnant water body hence the need for aerators operated by the PIPOA.  About 2/3 of the time water is coming in the Packery from the Gulf of Mexico.  The circulation pattern in the Bay causes some of the flow in from the Gulf to return through the Corpus Christi Ship Channel.  The result will be cleaner, higher oxygen levels and cooler water in the canals with the majority of water flow from the Gulf rather than the Laguna Madre.

Another issue the City is tackling is improving our air service.  With new executive leadership at the CVB and Airport the City is now actively soliciting airlines to add direct flights to destinations other than Houston and Dallas.  Management met with eleven airlines last month in Denver and was favorably received. An important part of this initiative is to change our culture from Corpus Christi being a “drive market” to promoting us also a fly destination with an emphasis on our Gulf Beaches.  This is a complete change in how we operated in the past.  With this alteration our airport is already outpacing other airports in these Covid ravaged times.  This bodes well for the future as we adjust to the pandemic.

30-Year Fixed Mortgage Rates Fall to New Low: 2.78%

freddie-mac-rates-november-2020

For the 12th time this year, mortgage rates have hit a record low. The 30-year fixed-rate mortgage fell to an average of 2.78%, the lowest ever recorded in Freddie Mac’s books dating back to 1971.

Sam Khater, Freddie Mac’s chief economist, attributed the record-low rates this week to “economic and political ambiguity.”

“Despite the uncertainty that we’ve all experienced this year,” he said, “the housing market, buoyed by low rates, continues to be a bright spot.”

Consumers are saving much more than they were before the rise of the pandemic—nearly 14% of their disposable income, according to the National Association of REALTORS®. Personal income also rose 6% in September compared to a year earlier. “With people saving more than ever before, home buying is more attractive, although home prices continue to rise,” writes Nadia Evangelou, a research economist, on NAR’s Economists’ Outlook blog. “Meanwhile, these ultra-low mortgage rates significantly lower mortgage payments, making housing more affordable than a year earlier in many areas.”

For example, in the Washington, D.C., metro area, home prices have jumped nearly 12% compared to a year earlier, Evangelou says. However, due to low mortgage rates, the monthly payment on a 30-year fixed-rate mortgage is lower than a year ago, averaging $1,820.

The housing market is also getting a boost from an improving job market. This week’s labor market report showed that the U.S. added another 638,000 in net job gains. The unemployment rate now stands at 6.9%. Since the April lockdown from the COVID-19 pandemic, about 12.1 million jobs have been recovered. Another 10 million jobs are needed to return to pre-pandemic levels, says Lawrence Yun, NAR’s chief economist. Residential construction and contracting trades added a major bulk of the jobs last month at 23,800, Yun says.

Freddie Mac reports the following national averages with mortgage rates for the week ending Nov. 5:

  • 30-year fixed-rate mortgages: Averaged 2.78%, with an average 0.7 point, falling from last week’s 2.81% average. The previous all-time low for the 30-year fixed-rate mortgage was set in October with an average of 2.80%. A year ago, 30-year rates averaged 3.69%.
  • 15-year fixed-rate mortgages: Averaged 2.32%, with an average 0.6 point, unchanged from last week. A year ago, 15-year rates averaged 3.13%.
  • 5-year hybrid adjustable-rate mortgages: Averaged 2.89%, with an average 0.3 point, rising slightly from last week’s 2.88% average. A year ago, 5-year ARMs averaged 3.39%.

Freddie Mac reports average commitment rates along with points to reflect the total upfront cost of obtaining the mortgage.

Reported by Realtor Magazine

Padre Island Housing Report – September 2020

With the Close of September, the median sale price on residential homes was 270,000 which is a decrease of 9.1% here on Padre Island compared to last year at this time.

Lots of Island Developments are on the move now, and the preliminary signage for the new Park Road 22 bridge has been posted and we are about to see our Island start making headlines across the state of Texas.

Days on the market for sale has decreased to an average of 78 days on the market. 36.5% of all the sales in September were priced between $200,000 – $299,999. Closed Sales were up an incredible 16.4% in the month of September. The market has cooled off a bit with school starting up, there are still some great bargains out there, and with the interest rates still holding it’s a great time to find that dream home you have been waiting for.

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 September 2020 Data (Click Pic below for Larger Image)

 


padre-island-housing-report-september-2020

CONSEQUENTIALLY CONTINGENT

22869326 - coming to an agreement through negotiation illustrated by three road or street signs with the words you want, i want, negotiate

The C word – it’s not well understood, so it’s not well liked. But, we should no longer feel the need to whisper it only in dark shadows after certain hours. Unless you’re a first-time home buyer or have been renting, there’s a chance you’ll need to sell your home before purchasing a new one. And the safest way for a buyer to do this is through a contingency. Let it be known, this is a beautiful risk and has pretty perks, so for those of you who see the glass half full, this one’s for you. For the rest, as they say, pour your liquid into a smaller cup and no longer fear this scenario.

 

What does it Mean?

By definition, it means a future event or circumstance that is possible but cannot be predicted with certainty. In real estate, this clause defines a condition or action that must be met in order for a real estate contract to become binding (as aforementioned, with a home sale contingency in place, the transaction is dependent upon the sale of the buyer’s home). The contingency becomes part of a binding sales contract when both parties agree to the terms and sign the contract.

Why is it Risky?

To Sellers: the main risk is that there is no guarantee that the home will sell. Before agreeing to a contingency, a seller may want to do their due diligence, for instance: is the home already for sale, is the list price attractive, what’s the sales time for homes in the neighborhood.

To Buyers: Buyers must still spend the same amount of money on home inspections, repair negotiations, appraisal fee (to name a few) and the buyer does not get these monies back if the deal falls through due to their property not selling on time. Also, because sellers are taking a gamble of sorts of the buyers ability to sell their current property, buyers need to make their offer as attractive as possible so that the seller will consider this risk.
What are the Benefits?

To Sellers: One major benefit is that the home can continue to be shown, and the seller can continue to receive offers. If the seller accepts a written offer, the seller is required to notify the buyer of such acceptance.  Per the contract, the buyer has a specified amount of time (say, 2-3 days) to either remove the contingency and put down additional earnest money, or the contract terminates automatically and the earnest money is refunded to the buyer. A home sale contingency might also be a good thing if the seller has had the property on the market for a while and is unable to find a buyer. A contract with a contingency is still a contract, and there is a chance that the property will sell.

To Buyers: A home sale contingency gives buyers the opportunity to not miss out on the home they want, while allowing them time to sell their property. This way, buyers can avoid owning two homes and holding two mortgages at one time while waiting for their own home to sell. A home sale contingency can allow the buyer to sell their property with peace of mind knowing their next purchase is already in motion.
Why is it Misunderstood?

Many may only see the risks and not truly understand the benefits. Home sale contingencies protect buyers who want to sell one home before purchasing another. Upon receiving or writing a contract involving a contingency, it is important to review and understand the terms of the sale. This is something your real estate agent should be able to explain in detail to you. Fear not the world of contingencies, as knowledge is power!

 

Padre Island Housing Report – August 2020

At The End of August, the median sale price on residential homes was 335,000 which is an increase of 17.1% over last month here on Padre Island compared to last year at this time.

We are still trucking along here with many developments either under construction or set to go. The last round of approved funding was committed for the new Park Road 22 Bridge which is set to begin construction shortly.

Days on the market for sale has decreased to an average of 91 days on the market. 29.2% of all the sales in August were priced between $200,000 – $299,999. Closed Sales were up an incredible 69% in the month of August. The market is absolutely scorching right now, there are still some great bargains out there and with the interest rates still holding its a great time to find that dream home you have been waiting for.

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 August 2020 Data (Click Pic below for Larger Image)

 


padre-island-housing-report-august-2020

Home Fire Prevention and Safety Tips

As one of the nation’s leading disaster relief organizations, the American Red Cross responds to thousands of disasters each year. While many might associate the organization’s outreach efforts with major catastrophic events such as hurricanes and wildfires, the American Red Cross reports that home fires represent approximately 90 percent of its disaster response efforts. In fact, home fires represent one of the biggest disaster threats to families in the United States. Fires kill more Americans each year than all-natural disasters combined, and affect people from all backgrounds and geographic locations. Given these startling statistics, the American Red Cross suggests tips, aimed at reducing deaths and injuries resulting from home fires by 25%. As such, I would like to share some simple steps you can take to protect your family and home in the event of a home fire.

The American Red Cross has created a Home Fire Campaign to help families prepare for a home fire. The American Red Cross recommends taking the following steps in protecting your home:

  • Install the right number of smoke alarms. Test them once a month and replace the batteries at least once a year. Purchase smoke alarms here.
  • Teach children what smoke alarms sound like and what to do when they hear one.
  • Ensure that all household members know two ways to escape from every room of your home and know the family meeting spot outside of your home
  • Establish a family emergency communications plan and ensure that all household members know who to contact if they cannot find one another.
  • Practice escaping from your home at least twice a year. Press the smoke alarm test button or yell “Fire” to alert everyone that they must get out.
  • Make sure everyone knows how to call 9-1-1.
  • Teach household members to STOP, DROP and ROLL if their clothes should catch on fire

Also, it is important to develop and practice home fire escape plans with your family. If you need help in developing your unique plan, the American Red Cross has made fire escape plan worksheets available on its website https://www.redcross.org/get-help/how-to-prepare-for-emergencies/types-of-emergencies/fire/home-fire-preparedness.html.

It is important to check fire alarms every month to make certain they are working properly in the event of a fire and the batteries do not need to be replaced. When smoke alarms fail to operate correctly, it is generally due to missing, disconnected or depleted batteries. It is important to note smoke alarms should be replaced every 10 years from the manufacturer’s date listed on the back of the alarm. According to the National Fire Protection Association, three out of five home fire deaths occur in homes where there is no smoke alarm or no working smoke alarm, which is why this is so important.

In addition to following the American Red Cross’ tips to plan for fire safety, I would encourage you to take the time to read more information about the different ways you can protect your home from a fire. This includes keeping flammable objects a safe distance from items that get hot, such as heaters and stoves, never leaving a candle unattended, and learning about safe cooking methods. To read more about the different ways you can protect your home and family from fires, please visit the American Red Cross website https://www.redcross.org/get-help/how-to-prepare-for-emergencies/types-of-emergencies/fire.html. The National Fire Protection Association also has information on fire, electrical and related hazards at https://www.nfpa.org/.

If you have questions regarding any of the information mentioned in this week’s article, please do not hesitate to call my Capitol or District Office.  Please always feel free to contact my office if you have any questions or issues regarding a Texas state agency, or if you would like to contact my office regarding constituent services. My offices are available at any time to assist with questions, concerns, or comments (Capitol Office, 512-463-0672; District Office, 361-949-4603).

– State Representative Todd Hunter, District 32

 

Rep. Hunter represents Nueces County (Part).  He can be contacted at todd.hunter@house.texas.gov or at 512-463-0672. 

Padre Island Housing Report – July 2020

The end of July, the median sale price on homes was 311,500 which is an increase of10.3% over last month here on Padre Island compared to last year at this time.

New land development projects continue to increase with the completion of  Starbucks Coffee house at the development near the JFK causeway bridge called packery pointe. Also coming is a new development at Marker 37 than will bring a real fun coastal flair to the area.

Days on the market for sale has decreased to an average of 81 days on the market. 23.1% of all the sales in July were priced between $300,000 – $399,999. Closed Sales were up a whopping 50% in the month of July. The market is a soaring right now, there are some great bargains out there and with the interest rates holding low now is your chance to upgrade to that home you have been waiting for!

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 July 2020 Data (Click Pic below for Larger Image)

 


padre-island-housing-report-july-2020

DECLARATION OF LOCAL DISASTER – Hurricane Hanna

(note: Tropical Storm Hanna is now Hurricane Hanna, but was a Tropical Storm when the order was written)

County of Nueces

BARBARA CANALES
County Judge

Nueces County Courthouse, Room 303
901 Leopard Street
Corpus Christi, Texas 78401-3697

Read the full document here:  Declaration of Local Disaster 2020-07-24pdf

ORDER BY NUECES COUNTY JUDGE

DECLARATION OF LOCAL DISASTER

WHEREAS, the County of Nueces on the 24th day of July 2020 will suffer a threat of imminent disaster, injury, loss of life or property resulting from flooding from Tropical Storm Hanna; and

WHEREAS, the County Judge of Nueces County has determined that extraordinary measures must be taken to alleviate the suffering of people and to protect or rehabilitate property.

NOW, THEREFORE, BE IT PROCLAIMED BY THE COUNTY JUDGE OF NUECES COUNTY:

  1. That a local state of disaster is hereby declared for Nueces County pursuant to §418.108(a) of the Texas Government Code.
  2. Pursuant to §418.108(b) of the Government Code, the state of disaster shall continue for a period of not more than seven days from the date of this declaration unless  continued, or renewed, by the CommissionersCourt of Nueces County.
  3. Pursuant to §418.108(c) of the Government Code, this declaration of a local state of disaster shall be given prompt and general publicity and shall be filed promptly with the County Clerk.
  4. Pursuant to §418.108(d) of the Government Code, this declaration of a local state of disaster activates the County emergency management plan.
  5. That this proclamation shall take effect immediately from and after its issuance.

DULY ORDERED ON THIS THE 24th DAY OF JULY 2020.

Date: 7/24/2020

BARBARA CANALES

Nueces County Judge

Real Estate on Padre Island

Do you know what a SELLER’S MARKET is?  It occurs when demand exceeds supply, or there are more buyers seeking to purchase properties than there are available properties on the market. This often leads to multiple buyers interested in a single property, resulting in bidding wars.

In a SELLERS’S MARKET, properties priced well and look good, don’t stay listed for too long.  Many properties sell in just weeks

For much of the last decade, the real estate market has been….well, not really in the greatest shape.  Home sellers have had to do everything short of staging a three-ring circus in the front yard in order to attract buyers and throwing in their firstborn child to seal the deal.

Over the course of the past few months, though, there’s been quite the turnaround, to the point wherein many parts of the country we’re now in what is known as a ‘true’ SELLER’S MARKET.

The drop in interest rates, which allows more people to qualify to buy homes, or to afford more expensive homes has been a major factor.

The BEST way to make sure you’re taking full advantage of a SELLER’S MARKET is to work with an experienced local REALTOR. Your REALTOR will help you know just how high you can price a property, and what offers are worth a second look.

Homeowners, the real estate market on Padre Island is HOT and now is a great time to sell.  Interest rates are low and there are more buyers than inventory. Let us help you find your perfect gem!

~ Cheri Sperling

Padre Island Housing Report – June 2020

Homeowners, the real estate market on Padre Island is HOT and now is a great time to sell. Interest rates are low and there are more buyer’s than inventory.

We are still seeing lots of willing, and able and ready buyers, the market is moving fast as we head into the deep of summer with the temperatures outside are sizzling in the upper 90’s.

We are well into Hurricane Season so it’s always good to prepare for these times by keeping the items you need handy along with a checklist in the event of the need for evacuation on our Lil ol sandbar.

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.

We are practicing all the social distancing, masking, and hygiene requirements in and out of our office as we navigate these challenging times. We are committed to protecting all our clients and helping them with all their 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 June 2020 Data (Click Pic below for PDF)


padre-island-housing-report-april-2020

Hurricane Season 2020

Hurricane season began June 1, and forecasters at the National Oceanic and Atmospheric Administration (NOAA) are predicting above-normal hurricane activity in 2020, which means there could be three to six major hurricanes this year. With towns along the coast, Texas may face the storms head-on.

Hurricane season brings not only climate concerns but scammers as well. In the home repair business, “storm chasers” are untrustworthy contractors that travel to areas impacted by severe weather and go door to door offering to repair damage for low prices. Then, after receiving payment upfront, these storm chasers either leave without starting the projects or only partially complete it.

Along with the usual concerns associated with hurricane season, 2020 brings a new challenge in the form of COVID-19. NOAA warns that the pandemic can affect your ability to prepare for incoming hurricanes. Use these tips from the National Weather Service (NWS) and your Better Business Bureau to prepare for hurricane season and storm chasers:

  • Check your insurance policy. Checking your insurance before a storm hits can save you time and stress later. Contact your insurance agent to review what your policy covers and if you need more coverage. You should also take a detailed inventory of items in your home to make any necessary claims process more efficient.
  • Create a disaster kit. In the event of a severe hurricane, power may be lost, or roads shut down. Create a kit with bottled water, flashlights, batteries and nonperishable foods. Make sure your kit includes supplies for pets and infants, as well as prescription medications. Visit the Department of Homeland Security (DHS) at ready.gov/kit for a full list of disaster kit supplies.
  • Prepare your home. Minimize damage by tying or weighing down any items that could get blown away in strong winds. Cover windows and doors with impact-resistant shutters. You should also prepare an evacuation plan with your family in the event you need to leave your home.
  • Watch for storm chasers. After a storm hits and damage has been assessed, be wary of contractors going door to door in your area. Storm chasers often use high-pressure tactics, like offering a great deal that is only available that day. Ask any contractor that comes to your door for references or visit BBB.org to find trustworthy businesses to repair damage to your home or property.
  • Plan ahead. Because of COVID-19, supplies may be low and evacuation plans may need to be adjusted. The sooner you begin preparing for hurricane season, the easier it will be to handle the aftermath.

You can’t control the weather, but you can prepare for it! Visit BBB.org to find trustworthy contractors and go to weather.gov/safety/hurricane for more on hurricane safety.

CARES Small Business Relief

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed into law with the intent of helping those financially impacted by COVID-19. Small businesses, such as local restaurants and retailers, have struggled due to consumers spending increased time at home. In addition to relief for American workers, employees, and families, the CARES Act provides assistance to small businesses.
While Texas has begun allowing businesses to reopen, the road to recovery will still take time. If your small business is looking to take advantage of the opportunities offered by the CARES Act, here’s the information to keep in mind:

• Paycheck Protection Program. This program provides small businesses with loans to fund employee payments, including benefits, for up to eight weeks. Certain nonprofits can also apply, and funds can be used for paying rent, utilities, and interest on mortgages. Qualifying businesses can also convert the loans to grants, meaning the money will not have to be repaid.

• Economic Injury Disaster Loans (EIDLs). All businesses with fewer than 500 employees (or more than 500 for certain industries) are eligible to apply for EIDLs. This loan advance can provide up to $10,000 for successful applications, which does not have to be paid back. If your business submits a successful application, the funds will be available within days.

• Business tax changes. Under the CARES Act, certain changes were made for business taxes. These changes include eligibility for employee retention tax credits, delaying payroll tax payments, claiming corporate alternative minimum tax credits, and more. Consult your business’ tax consultant to see which changes apply to your business. If you do not have a consultant, go to BBB.org to find trustworthy tax professionals.

• Families First Coronavirus Response Act (FFCRA). FFCRA makes changes to the Family and Medical Leave Act (FMLA) and sick leave for businesses and their employees. Covered employers must provide up to 80 hours of paid leave to all employees unable to work due to personal quarantine or COVID-19 symptoms. Up to 80 hours at two-thirds of the regular pay rate are provided to those unable to work while caring for a relative due to COVID-19. You can visit the Department of Labor’s website to learn more details about FFCRA.

Small businesses are the heart of communities across America. Encouraging those in your life to shop and eat at small businesses is a great way to stimulate local economies, but the CARES Act strives to provide extra protection for business owners and their employees. Visit the Small Business Administration at SBA.gov to learn more about what CARES can do for your business, and go to BBB.org to search for trustworthy small businesses in your area.

Padre Island Housing Report – April 2020

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

TWIA News 2020

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.

 

Texas Quarterly Housing Report for 1st Quarter of 2020

Homes sales and median home prices across Texas experienced a moderate increase in the first quarter of 2020, according to the 2020 Texas Quarterly Housing Report released Wednesday by Texas REALTORS®.  Although this time period includes the beginning stages of the COVID-19 outbreak, the statistical representation of its impact on the Texas housing market will be made more apparent in the second and third quarters of the years.

The housing statistics for the first three months of the year show the continuation of more than a decade of growth in the Texas housing market.  However, the rapid growth of the ‘global’ pandemic we are facing is poised to affect this momentum. Before this unprecedented event and the economic downturn and shelter-in-place orders, our biggest market concern was the lack of affordable housing to meet the demand.

during the first quarter of 2020, 75,052 homes were sold in Texas. Statewide, the median price increased by 5.1% to $241,500.  The largest percentage of homes sold ACROSS the state was in the $200,000-$299,000 price range.

Because of COVID-19, many sellers have been pulling their listings to wait out the quarantine.  This will only add to our housing shortage and strained inventory availability.  Sales are anticipated to drastically drop.  In the long-term, there will be continued demand within the Texas housing market as long as the job market is able to rebound quickly they are saying.

The good news is we went into the disruption with positive velocity and will be ready to come out the other side with a swift recovery.  In the meantime, opportunities are everywhere, and we Texans always outperform expectations

2020 State of Padre Island Real Estate

A new decade can bring excitement, anticipation, and chatter of changes. But one thing that doesn’t seem to change is what’s most important in the real estate market: As we real estate experts commonly quip, it all comes down to three simple things: Location, location, location! And lucky for us, that’s the one absolute permanent asset we have – our sparkling coast and sunny skies. Not only is Texas itself seeing exponential growth, so are we here on the Island.

Future job growth in Corpus Christi over the next ten years is predicted to be 25%. Unemployment rates are down, home prices are up, and the Texas economy is strong. As the state keeps attracting new businesses and cranking out jobs, these trends are only likely to improve.

The Island, known in large for its tourism, has seen and will continue to see phenomenal growth over the past few years. With new industry and population increases, it’s no wonder the real estate market is healthy and busier than ever.

So what if you wanted to buy or sell here? By comparing these price trends, you’ll have a good idea of where the market could be heading. The median listing and sold property prices (below) are calculated based on the market activity each month. Our Island is valuable!

Listed vs. Sold

It’s important to understand the difference between “list price” (what sellers are asking for) and “sold price” (what buyers are actually paying).

Let’s break it down!

FOR SALE – through February 15, 2020

Interior Homes

  • 68 homes currently listed for sale

Statistics

  • Low price – $200,000
  • High price – $785,000
  • Average price – $375,258
  • Average square footage – 2,255

Waterfront Homes

  • 81 homes listed for sale

Statistics

  • Low price – $309,900
  • High price – $4,500,000
  • Average price – $671,596
  • Average square footage – 2,505

SOLD HOMES – January through February 15, 2020

Interior Homes

  • 16 sold interior homes in the first month and a half of 2020

Statistics

  • Low price – $201,250
  • High Price – $383,000
  • Average price – $286,522
  • Average square footage – 1,878

Waterfront Homes

  • 15 sold waterfront homes in the first month and a half of 2020 (up 216% from the same timeframe in 2019; 6 houses)

Statistics

  • Low price – $250,000
  • High price – $825,000
  • Average price – $454,833
  • Average square footage – 2,096

Chamber of Commerce COVID-19 Update

Good morning,

As part of our commitment to providing our members with the information necessary to address the COVID-19 crisis, we would like to invite you to listen in to our Chamber Update on the CARES Act. This call will take place on Tuesday, April 7th at 1:00 PM Central.

Our guest speaker for the call is Kris Denzel, Senior Director for Policy with the United States Chamber of Commerce. Kris will be on the call to walk us through provisions in the CARES Act that are designed for our members and explain how to apply.

You can join us by dialing in at: (346) 248-7799 or via Zoom at: https://zoom.us/j/553643721?pwd=dGNSNU5OZmd2SW1HcERiaGNMK094Zz09

Meeting ID: 553 643 721
Password: 019633

Padre Island Housing Report March 2020

The end of February, the median sale price on homes was 326,500 which is an increase of 2.9% over last month here on Padre Island.

New land development projects continue to increase with the building of a new Starbucks Coffee house at the development near the JFK causeway bridge called packery pointe.

Days on the market for sale has decreased to an average of 93 days on the market. 31.8% of all the sales in February were priced between $300,000 – $399,999. Closed Sales were flat 0% in the month of February. The market is a bit soft but spring is nearly here!

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 2020 Data (Click Pic below for PDF)


padre-island-housing-report-december-2019

Padre Island Housing Report February 2020

The end of January, there were many available properties for sale on Padre Island

Days on the market for sale has increased to an average of 148 days on the market. 41.2% of all the sales in January were priced between $200,000 – $299,999. Closed Sales were up 43.2% in the month of January. The market is certainly on it’s way up.

Interest rates are supposed to remain low. We will be updating buyers with the increase of new loan programs are coming out. Lots of new development projects are happening on Padre Island including the New Park Rd. 22 which has gone through its final approval at City Council and construction should begin sometime after spring break.

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 2020 Data (Click Pic below for PDF)


padre-island-housing-report-december-2019

Padre Island Housing Report Dec 2019

As of the end of December, there were a number of waterfront homes on Padre Island, For Sale. The pricing ranged from $293,000 to $4,500,000.

There are many dry lot homes on Padre Island, For Sale.
The pricing ranges from $200,000 to $950,000.

Days on the market for sale has decreased to an average of 103 days on the market. 42.9% of all the sales in December were priced between $200,000 – $299,999. Closed Sales were up 2.9% in the month of December. People are eager to get the New Decade started.

2020 Will be a fabulous year for buyers, sellers and investors. Interest rates are supposed to remain low. A few new loan programs are coming out. Lots of new devlepment projects are happening on Padre Island including the New Park Rd. 22 which has gone through its final approval at City Council and construction should begin sometime after spring break.

Cheri Sperling is 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 are the most knowledgeable real estate office on Padre Island. No pressure style, patience, and intimate understanding of the local market. They go to work for you!


Padre Island December 2019 Data (Click Pic below for PDF)


padre-island-housing-report-december-2019

DON’T FA LA LA LA FRET

Cooking and cleaning and hosting, oh my! Broken wine glass shards as far as the living room? Kitchen sink spitting up last month’s pot pie leftovers? Aunty Shissa sprained ankle on the kids’ long-lost Lego piece? Get through the final holiday season without a hitch, and make it seem flawless.

Before Guests Arrive:

Clear your entryway! The people will come, and they come with THINGS. Lots of things. Purses, shoes, presents, tupperware, scarves, jackets, cats in doggy bags…give these things a place. Whatever you have going on in your foyer, de-clutter it. Then add extra hooks.

Add a few extra lights. YOU know where the hallways begin and end, where the steps are and how steep. But your guests do not, and it gets dark early now! Add motion detecting night lights inside and outside so no one goes home with a broken hip.

Zhuzh up your powder room. With the eggnog and spiced wine flowing, your guests will find their way here…often. Aside from the kitchen, it may be the next busiest room. Make sure it’s fully-stocked with toilet paper, hand soap, clean hand towels, tissues, and…air neutralizer…plunger. A scented candle provides nice ambience.

Create extra seating. Especially around bars, coffee spots, and kitchen islands. The masses congregate here. No one should have to call “seat backs”!

Cook a few appetizers in advance. This keeps your guests happy and you with less to do/more time to chat and concentrate on the main dishes. Keep wine and glasses out for guests to serve themselves!

Prep a guest room. Just in case you get the tipsy friend who simply shouldn’t drive, get a bedroom ready in advance. Clean bedding, a ceiling fan, and matching footed PJs are all they need!

Garbage cans. Double or triple line them. It’ll make clean-up so easy during and after the party!

Troubleshooting 101:

Dish disaster. First, use as many “oven to table” dishes as possible to avoid doubling up on what needs to be washed. Next, set up a soaking station for those inevitable hard-to-wash dishes. Quick tip: use a trashcan as your soaking spot, and stick it under your sink. That way it can hold a lot but is also out of the way.

Oven issues. How to avoid the possibility of your oven “gone fishin’” on the most critical day of the year? Set the SELF-CLEAN to AFTER the holidays. That way you’re less likely to blow a fuse or a thermostat. Don’t Turducken this up.

NUTS. Any type of food allergy. A simple heads up with a small sign that says what has nuts, dairy, etc. in it could mean a much-appreciated trip saved to the ER.

Fires. First and foremost, do not overload outlets. You and your guests don’t want to be left in the dark, or worse, in the midst of a house fire. And for those outdoor hanging icicles and blow up Santas, stick to exterior specified extension cords.

Plastic. It’s not so tacky anymore. Super wine glasses and lovely dishware come in plastic or even disposable! No more shattered glass or paranoia over grandma’s fine china.

Party Is Over:

Doggy bag. Purchase little doggy bags for your friends and family to leave with leftovers. They get a tasty treat the next day, and your fridge isn’t left overloaded.

Clean your kitchen first. That is important. Get dishes going, trash out, and spills up. But your guest bath or linens can wait. Categorize by what needs to happen right away vs. in a day.

Double check electronics. Make certain the stove is off, you’ve unplugged the fondue machine, and your after-dinner coffee maker isn’t still heating up water.

Get the kids to help: You don’t have to do it alone! Crank up the Carols and make it fun!

Your guests will love how effortless your festivities were, and how comfortable they felt. Happy merry holidays, Island.

Padre Island Housing Report Nov 2019

As of the end of November, there were 80 waterfront homes on Padre Island, For Sale. The pricing ranged from $298,000 to $4,500,000.

There are 73 day lot homes on Padre Island, For Sale.
The pricing ranges from $200,000 to $950,000.

Days on the market for sale has risen to an average of 141 days on the market. 35.5% of all the sales in November were priced between $200,000 – $299,999. No closings over $500,000 in the entire month of November. Sales were down 25.6% in the month of November. I believe people are thinking holidays.

We are looking forward to a much better 2020. Interest rates are supposed to remain low. A few new loan programs are coming out. Lots of new things happening on Padre Island. Happy Holidays!!

Cheri Sperling is 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 are the most knowledgeable real estate office on Padre Island. No pressure style, patience, and intimate understanding of the local market. They go to work for you!


Padre Island November 2019 Data (Click Pic below for PDF)


padre-island-housing-report-september-2019

Padre Island Housing Report October 2019

After a disappointing September, October median list pricing has gone up a bit. Thanks to climbing earnings, expanding jobs and low mortgage rates, according to the latest National Association of REALTORS report sales throughout the US have gone up however Padre Island’s closed sales went down 12.7%.

Historically low interest rates, continuing job expansion, higher weekly earnings and low mortgage rates are undoubtedly going to cause higher sales.
It is nice to see home list prices starting to rise again. Let’s hope these conditions continue to remain favorable for real estate investment on Padre Island.

Cheri Sperling is 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 are the most knowledgeable real estate office on Padre Island. No pressure style, patience, and intimate understanding of the local market. They go to work for you!


Padre Island October 2019 Data (Click Pic below for PDF)


padre-island-housing-report-september-2019

Padre Island Housing Report September 2019

The Corpus Christi Association of REALTORS (CCAR) September market report for Padre Island shows the Median Price at $299,990 which is UP from September 2018 ($289,700)

The inventory levels are up a bit. Dry lot homes continue their dominance in active listings over the water front homes. Our closed sales were up in September which is typical because sales in July/August would be closing in September. The Island grocery store is in construction at this time. Waves Resort has stepped up their game and doing extremely well with their presentations, look and services.

Cheri Sperling is 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 are the most knowledgeable real estate office on Padre Island. No pressure style, patience, and intimate understanding of the local market. They go to work for you!


Padre Island September 2019 Data (Click Pic below for PDF)


padre-island-housing-report-september-2019

31st TASTE OF THE ISLAND 2019

tasteoftheisland

>> GET YOUR TASTE OF THE ISLAND TICKETS HERE >>

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 31st annual Taste of the Island, where some of our best restaurant’s fare is being featured at the event on October 23rd, beginning at 6 pm, at the Waves Resort on Padre 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 20 restaurants, there will also be cash bars open and live musical entertainment.

The party lasts until 9pm, 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 40 items to bid on. 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, President for the PIBA, who is spearheading 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 $35.00 a piece, and then it’s up to you to eat your money’s worth! Leaving hungry would simply be disgraceful.

Get Tickets Here >>

Padre Island Housing Report August 2019

Total housing sales through the MLS corrected upward in July after declines the previous two months. Despite the monthly jump, the sales pace shows signs of slowing. The Median List price is now $285,000.

Continued concerns about global economic growth and trade uncertainty pulled interest rates down for the ninth consecutive month. The Federal Home Loan Mortgage Corporations 30-year fixed-rate dropped below 3.8%. Refinance mortgage applications, which are more sensitive to interest rate fluctuations, have doubled since year end.

Days on the Market: July was approx 94 days. August approx 139 days.
Median List Price: July was $282,450 August approx $285,000
Closed Sales: July up 7.7% August down 18.3%

Coastline Properties has been on the Island since 1995. We strive to set the standard in our industry and inspire others by raising the bar on providing exception real estate knowledge and savvy!
Come Coast Awhile……right here!


Padre Island August 2019 Data (Click Pic below for PDF)


padre-island-housing-report-august-2019

North Padre Island Housing Report – July 2019

Recently an agent described the current real estate market as, squirrely. As the market has softened, buyers are more finicky and more selective, and right now many sellers have unrealistic expectations of their home’s worth. The bottom line is, homes MUST be priced right.

The condominium and townhomes sales have dipped and inventory continues to increase. The homes sales have risen on Padre Island, somewhat, and the housing inventory continues in rising. Buyers have access to more properties not just here but statewide. However, working with a local Texas REALTOR in the market one is considering will ensure a Buyer or Seller the most accurate information and guidance to buying or selling a property. That professional will know the geographic area and can guide a buyer or a seller with much local information .

Coastline Properties has been on the Island since 1995. We strive to set the standard in our industry and inspire others by raising the bar on providing exception real estate knowledge and savvy!
Come Coast Awhile……right here!


Padre Island July 2019 Data (Click Pic below for PDF)


padre-island-housing-report-june-2019

North Padre Island Housing Report – June 2019

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

If you are considering property in Corpus Christi, the most affordable properties are located on Padre Island. Padre Island has the most affordable waterfront properties around. We sit on the warm Gulf of Mexico with miles of beaches and that isn’t including the long sandbar islands of Port Aransas and San Jose Island.

Many savvy real estate investors have retired early in their lives by investing in some of the best real estate markets on Padre Island. Our real estate market offers an excellent mix of opportunities such as catering to the student market from the college, military market at our base and our tourism market.

Our local economy and demographics makes Padre Island housing market incredibly stable, insulating from wild price swings while guaranteeing decent returns. Whether buying an investment property or wanting to own an owner-occupied home…Coastline Properties can answer your questions. whether you are a beginner or a seasoned pro you probably realize the most important factor that will determine your success is a working with a seasoned local real estate company.

Coastline Properties has been on the Island since 1995. We strive to set the standard in our industry and inspire others by raising the bar on providing exception real estate knowledge and savvy!
Come Coast Awhile……right here!


Padre Island June 2019 Data (Click Pic below for PDF)


padre-island-housing-report-june-2019

REAL ESTATE TRENDS IN 2019

Now that we’re halfway through the year, 2019 is revealing some trends that may interest any of you potential seller(s) or buyer(s). And some may surprise you! I’ll skip the hashtags and rhetoric, and get straight to them.

  1. PRICES ARE RISING. Albeit slowly, but they are on the up. Isn’t that why we own? Real estate is meant to be an appreciating asset, so this makes us happy. For sellers, this means you can expect to net a little more than perhaps you expected. As mom would say, don’t spend it all in one place. But, be aware of the competition, price accordingly, and do not get discouraged if you’re not getting as much activity as you’d like. Due to higher prices, there may be fewer buyers and therefore fewer showing appointments and offers. Be patient, it will come. Because, what this means for buyers is…you need to save a bit longer and perhaps sacrifice a “want” or two. Concentrate more on your “needs” than “what would be nice” in a home. Be in close touch with your lender, understand the numbers, what is expected of you throughout the process, and take the time to save up for what it is you want.
  1. MILLENNIALS! Don’t cringe, they are your friends…they are your BUYERS! Move aside, baby boomers and Gen Xers! The Millennials are now older, have stable careers, and currently account for roughly 45% of home purchases! This so happens to be at a good time, as baby boomers are downsizing and/or retiring. As a seller, keep these things in mind when speaking to your agent about marketing. Millennials shop online – be sure your hired agent has taken professional photos, has spent quality time on a detailed property description, and truly knows about your home, as once it gets input in to the local MLS, the internet sites such as Zillow, Trulia, and the like pick it up. If it doesn’t look or sound enticing, they’ll quickly move on. If you can, prep your home to be more energy efficient and maintenance free as possible. We’re seeing a movement toward quality over size, so declutter, brighten up, and maybe replace that oven with one that can be operated by a phone application. Buyers, know what you want and be quick when you are in fact ready…if you like it, your friends will, too! And do not forget to use an experienced real estate agent. It is a free service to YOU!
  1. We’ve talked on this topic before, but the interest rates are higher than they’ve been in recent years’ past. Despite grumblings, it’s actually a good thing! To help stabilize the strong economy and rising inflation during the past few years, the Federal Reserve increased short-term interest rates. It’s somewhat natural to see a trickle-down effect to the bank level like what we’re seeing now with mortgage interest rates. What it means in short is that more people are willing to spend and borrow money. We just need to know how to react to this as a seller and a buyer. Sellers, your home may be on the market a bit longer, so plan for this by maybe listing a bit earlier than you may otherwise would have wanted to. Your best bet is to hire a local agent who understands the current market. They’ll help you set expectations for how much you can make and how long you’ll have to wait for the right offer. Buyers, taking out a mortgage is like getting married – you’re going to be together a long time! It’s normal to need to take a moment to make this commitment, especially when the rates are higher than they may have wanted. Believe it or not, rates are still relatively low. If you’re not buying with cash, check with your lender on the terms of a conventional 15-year fixed-rate mortgage. You may find that route beneficial.

Maybe all this sounds great, but you currently have no interest in selling or purchasing. It’s still good news for you! Prices are supposed to continue to steadily increase by 2-6% by 2020. People are spending money, employment rates are high, and cash-buyers are becoming more common. There is no reason to believe a crash is anywhere in sight. So kick your feet up and breathe easy!

Save and Spend Smartly

piggy-bank-It’s hot here on Padre Island, and I’m not talking just the high temperatures. It is real estate’s steamy season, and properties are being listed and sold faster than season tickets at the ‘bahn. With the active market, it’s critical to take a look at your spending. How can you be assured you’re not wasting money? Here are some smart tips on how to save and spend during peak purchase season. Do not fall victim to these common money mistakes.

 

BUYERS:

DO NOT overpay. Unless you find yourself in a bidding war for the home of your absolute dreams, there is not a single home like it, and you do not plan to leave, ever ever ever, do not pay over the appraised value. Note: Do not get this number from the tax office, get this from an actual appraiser who visits the home and runs their own detailed determination of real value.

DO get an inspection. It’s worth the couple hundred dollars. Do your due diligence and know what you’re buying. If there is a deficiency on a large ticket item, it’s best to find out ahead of time so you can budget for it in the future or you can ask the seller to help right the wrong. You do not want to find these deficiencies later, once the sale is over, and you haven’t budgeted for them.

DO NOT make a lowball offer. Negotiating is normal, and it’s okay to not offer full price. But if you’re interested enough to make an offer, make sure it’s worth your time and the seller’s time. Your agent will be able to give their best advice as to what a good offer price would be, based on comparables and their knowledge of the market and area.

DO lender shop. Different lenders can offer different rates. Shop around, see with whom you can save and where.

DO NOT make large purchases prior to closing. This is a huge expensive mistake, as it can alter your credit score and can actually take you from having loan approval to not. You can lose your property and in turn gain something of expense (whatever it was that you bought, albeit a car, boat, etc.).

SELLERS:

DO NOT remodel what won’t pay off. If you’re going to do some upgrading prior to listing your property, spend money in the kitchen. This is a room that’s important. Otherwise, less expensive updates you can do include painting, new hardware, fixtures and carpet. Gutting bathrooms and shellacking your garage floor is likely not worth the pay off.

DO price properly. Your listing agent will be able to guide you to a proper sales price, so use their knowledge! You’re paying them, after all. If your property is priced too high, it’s likely to not sell as quickly, wasting your money on months of bills, taxes, mortgage payments, etc.

DO NOT reject reasonable offers. Letting your emotions get in the way of your sale can be tough, but you do not want to push qualified buyers away because you’re not remembering that this is in fact business. At the very least, provide a counter offer.

DO disclose. If there are issues that you do know about, it’s the law to disclose known deficiencies. If you do not, this could turn in to a lawsuit. Talk about expensive!

Try to keep these Dos and Don’ts in mind this summer and in to the fall, and you will be free from the most expensive mistakes that buyers and sellers tend to make. You work hard for your money, so keep your dollars where they will work for YOU!

Did You Know…

The real estate community is rushing to help victims of record-breaking floods in the Midwest last month, which hit the state of Nebraska particularly hard.  The REALTORS@ Relief Foundation has partners with the Nebraska REALTORS@ Association to collect donations for mortgage and rental payment assistance for hundreds of residents who have been displaced.

Receding floodwaters are revealing extensive damage in affect communities, including crumbled bridges and roadways, homes and businesses covered in thick river silt, and acres of destroyed farmland.  Nearly 70% of the 03 counties in Nebraska have declared states of emergency due to the flooding, which has been blamed for at least three deaths.

The REALTOR@ community is spreading the word about how to help homeowners and renters who have been affected by the floods.  Local associations and individual real estate professionals and brokerages are also contributing.  100% of the funds collected go to disaster relief causes.

Cleanup efforts is extensive.  In some areas, the water stripped away topsoil and left behind mounds of sand.  Acres of farmland, in some cases, were covered with        two feet of sand after the waters receded.  The flooding has turned some farms and properties into deserts.  It very difficult right now for many many residents.  The real estate community is hoping many folks will choose to rebuild.

 

Tax Time 2019

Your home is likely your largest asset, and therefore, deserves special attention at tax time. Be sure you’re handling them correctly this year, using these tips!

Deduct from the correct year:

Here, we’re billed in arrears on our taxes, which can be confusing when taking the tax deduction. You’ll want to be sure to enter the amount you actually paid in that tax year, no matter what the date on your tax bill says. Because of this, it can be easy to confuse your payments and actually claim the incorrect amount.

Note: If taxes were paid from your escrow account, do not just deduct the amount escrowed. That’s because sometimes the amount you pay from this account can be a little bit higher or a little bit lower. Your lender will align the two to make sure they end up matching.

For example: Your property taxes were $6,000. Your lender collected $5,800. Or, maybe your lender collected $6,200. You’ll deduct $6,000, the actual taxes paid. This number will be the amount noted on your Form 1098.

Deduct your mortgage interest:

A home mortgage interest deduction allows you, the taxpayers who owns your home, to write off any interest you paid on a loan secured by your home (main home or a second home). The loan may be a mortgage, a line of credit, or a home equity loan. This allows you to reduce your taxable income by the amount of interest paid on the loan.

Note: You must file Form 1040 and itemize deductions on Schedule A (Form 1040), and prove your mortgage is a secured debt on a qualified home in which you own.

Exceptions: You cannot deduct mortgage interest on a mortgage that is over $1,000,000, or you have over $100,000 in home equity debt.

Refinanced?

If you’ve refinanced, you’ll be deducting points over the life of your new loan (as opposed to your regular mortgage, where you’ve been deducting points based on what you paid your lender to secure your mortgage over the course of your loan’s life – 15 years, 30 years…)

For example: Let’s say you paid $3,000 in points for a refinance of 30 years. You’ll divide 3,000 by 30 and pay $100 a year.

Went green?

If you made any energy improvements, such as installing solar electric, solar water heater, geothermal, any energy-efficient systems…you may be able to take a 10% tax credit up to a certain dollar amount. However, these are one-time credits. If you claimed your new energy-efficient windows last year, you can’t do it again.

Note: See Form 5695, Residential Energy Credits

Don’t forget to:

  • Keep track of your home-related expenses.
  • Track your capital gains (If you sold your main home last year, you’ll have to pay capital gains taxes on your profit from that sale). Keep your receipts as long as you own the property plus three years.
  • Deduct your home office (If you’re eligible, you can deduct $5 per sq. ft. up to 300 feet, or up to $1,500 a year).
  • Keep your mortgage payoff statements forever. You never know when you may need that proof.
  • Keep your appraisal or valuation used to calculate depreciation as long as you’re the owner plus three years.
  • Keep your property tax payment, year-end mortgage statement, PMI payment, and energy tax credit receipt for three years after the due date of the return showing the deduction.

North Padre Island Housing Report – March 2019

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

Look at this!! The Median priced homes on Padre Island this past March have gone up 19.4% compared to March 2018! That’s good news! However, we are stilling having rain with the fronts moving through and the number of Active listings has fallen. People don’t want to list when it’s rainy and ugly out there AND people don’t want to buy when it’s rainy and ugly. Where’s the sunshine?

The active market in March were homes priced $200,000 to $399,999. The higher end homes seem to continue to sit. Maybe a showing here and a showing there – but sales in the higher end is extremely slow.

Come on Spring…we are ready for you!! ~Cheri Sperling

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!


Padre Island March 2019 Data (Click Pic below for PDF)


north-padre-housing-report-oct-2017

North Padre Housing Report – February 2019

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

Look at this!! The Median priced homes on Padre Island this past February have gone up 19.4% compared to February 2018! That’s good news! However, with all the rain and bad weather days we’ve had in January and February, the number of Active listings has fallen. People don’t want to list when it’s rainy and ugly out there AND people don’t want to buy when it’s rainy and ugly. Where’s the sunshine?

The active market in February were homes priced $200,000 to $399,999. The higher end homes seem to continue to sit. Maybe a showing here and a showing there – but sales in the higher end is extremely slow.

Come on sunshine…show us your rays!! ~Cheri Sperling

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!


Padre Island February 2019 Data (Click Pic below for PDF)


north-padre-housing-report-oct-2017

North Padre Island Housing Report – January 2019

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

Single-family sales are still projected to slow down more so in 2019 and bounce back in 2020. Despite slower sales activity, the average Days on Market balanced at 147 days in January 2019; 10 days more than in January 2018.

Despite slower price growth, home-price appreciation outpaced wages and weighed on housing affordability. Texas’ affordability remained favorable compared with other states but continues a steady decline that began in 2013. More progress is necessary to balance the market. Six months of inventory is considered the equilibrium level and January 2019 showed 6.3 on Padre Island compared to 7.3 in January 2018. Padre Island’s median home price increased 9.7 percent; $200,000 – $299,999 being the popular price
line.

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!


Padre Island January 2019 Data (Click Pic below for PDF)


north-padre-housing-report-oct-2017

Barefoot Mardi Gras 2019

 

mardigras2019

We are Proud to once again be Major Sponsors for the 10th Annual Barefoot Mardi Gras .  Its going to be spectacular this year, sure to bring a very festive environment as we all celebrate together for a great cause!

A Family Parade will take 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.

Events:

Barefoot Mardi Gras Parade

March 2, 2019
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.

Register now for the parade

Barefoot Mardi Gras Festival

March 2, 2019
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

March 2, 2019
7:30 pm – 12:00 am

An adult-themed Party, The King & Queens Ball, will let the good times roll on the evening of March 2nd from 7:30pm – Midnight at the Briscoe King Pavillion. Leave the kids at home & Let the Good Times Roll as we transform the festival into the streets of New Orleans!
Ball Ticket includes traditional shrimp boil fixins from Rollin’ Tide Boil Company and a coffee and king cake station! Dance in high heels, flip flops, or barefoot to the blues rock New Orleans style music of Splendiferous. Costumes encouraged! Put on your royal beads and feathers ‘cause we will be crowning our new 2019 Barefoot Mardi Gras King & Queen! Plus, enjoy face painting as only the Cajuns can, a cigar bar, crooning saxophones, and much more! Patrons must be 21 years of age or older to attend. Tickets are $30 in advance or $40 at the door and available at various locations.

FOR MORE INFO and To Get TICKETS to the KING & QUEENS BALL Click Here Barefoot Mardi Gras 2019

North Padre Island Housing Report – December 2018

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

The current construction boom is affecting sales of “used” homes. Since the end of the last housing boom in 2006, Corpus Christi has followed closely the statewide market. The number of new home permits reflects residential construction activity. The properties being watched closely are priced below $300,000.

Unlike the market for single-family homes, rental housing faced record high vacancy rates. Following Hurricane Harvey, residents displaced by damage have turned to apartments around Corpus Christi rather than properties on Padre Island.

Despite a recent slowdown in new home construction due in part to rising material costs and skilled-labor shortages, new construction is still selling strong. If the home looks good, priced right and marketed professionally – it’ll sell. With all the industry being developed in and around the Corpus Christi Ship Channel, Corpus Christi is going to benefit and home owners will benefit. The ongoing industrial construction activity is adding construction employment and permanent manufacturing jobs. Replacement of the Harbor Bridge by 2020 will add another 600 construction jobs during its peak time. Hang on Corpus Christi – times are going to be changing!

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!


Padre Island December 2018 Data (Click Pic below for PDF)


north-padre-housing-report-oct-2017


Padre Island Annual Housing Data 2018 (Click Pic Below for PDF)


north-padre-housing-report-oct-2017

North Padre Island Housing Report Oct 2018

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

* The Island pricing has dipped since Labor Day in September. We also are seeing it the number of listing that are reducing pricing on a daily basis, particularly the new construction.
* Our ACTIVE listings is down – and, I attribute to the fact we’re going into the holidays and many folks are going to wait until after the first of the year, nearer Spring and hope the real estate market on Padre Island begins to turn upward.
* The higher priced home, over $500,000 are struggling. Not as many buyers in that range at this time. If a Seller receives a contract he needs to try and make it work because the competition priced over the $500,000 mark have Seller’s that want to move onward and may be more negotiable.

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!

north-padre-housing-report-oct-2017

North Padre Island Housing Report – Sept. 2018

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

* Median pricing on Padre Island raised 11.5% in the month of September 2018 compared to September 2017 pricing.
* We are down in Active homes For Sale on Padre Island today. Padre Island is down is Closed sales by 13% – closing only 40 in September 2018.
* If a property is priced correctly, it’s taking about 123 days, on the Average, to close. The supply of waterfront homes is down. Supply & Demand!

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!

north-padre-housing-report-oct-2017

Did You Know?

DID YOU KNOW…THIS TEXAS CITY HAS THE HIGHEST SHARE OF $1 MILLION HOMES….

Austin, Houston, and Dallas were ranked in Lending Tree’s top 50 cities nationally with homes valued at more than $1 million.

Austin’s share of million-dollar homes was 2.16% putting it at No. 11.   Houston was ranked No. 15 with a 1.52% share, with Dallas ranked No. 18 with a 1.31% share of million-dollar homes.

DID YOU KNOW…CITY HAS THE MOST-DEMANDING RENTERS….

Renters in San Antonio seek amenities like air conditioning, parking, a balcony, a pool, and hardwood floors.  That may sound standard, but they have the highest amenity demands among all the cities analyzed by Apartment List’s Rentonomics blog.

The study also finds that renters in affordable markets tend to have higher demand for amenities than those in the priciest markets.  San Antonio is one of the nation’s most affordable large cities for renters, with a median two-bedroom rent of $1,050.

DID YOU KNOW…TEXAS IS GETTING MORE DIVERSE

Though California has the largest Hispanic population of any state, Texas saw the largest numeric increase in Hispanic population (234,000 people) in 2017, according to recent data released by the U.S. Census Bureau.  Starr County, Texas, has the highest percentage of Hispanics of any county in the U.S., with 96.3%.

Texas also had the largest black or African-American population in the country at 3.8 million.

DID YOU KNOW…HURRICANE HARVEY RAINFALL BREAKS RECORDS

Hurricane Harvey was the most significant rainfall event in U.S. history, both in scope and peak rainfall amounts, since the U.S. Geological Survey records began in the 1880’s.  The eight-day rainfall exceeded 60 inches in some locations, which is 15 inches more than average annual amounts of rainfall for eastern Texas and the Texas coast.  The areas affected by Harvey also was larger than previous events.

DID YOU KNOW….“TALK TO A TEXAS REALTOR”

An advertising campaign launched in June 2018 by the Texas Association of REALTORS  tells consumers that, no matter what type of real estate transaction they’re contemplating, talking to a Texas REALTOR  is the place to start.  The campaign consists of online ads, over-the-air and internet radio, video, social media, email, and online search engines.  It targets consumers interested in residential, commercial, property management, and farm and land transactions.  The campaign, which also includes Spanish ads, stresses that Texas REALTORS  are the trusted professionals who can help with pricing, negotiations, and advise.

DID YOU KNOW…Immigrant households will play a larger role in growing housing demand.  Texas is one of only a few larger states benefiting from positive net migration, which means more people are moving in than out.  While much of this migration comes from households moving from other states, that sources has tapered down while international households continue to provide steady growth.   Good to know!

Padre Island Housing Market July 2018

THE HOUSING MARKET IS HOLDING STEADY THIS SUMMER ON NORTH PADRE ISLAND. NEW LISTING ACTIVITY STILL BOLSTERING THE 200-400K RANGE STILL, WHICH COVERS THE MAJORITY OF THE MARKET.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO HEALTHY SUMMER 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

Padre Island Housing Report June 2018

THE HOUSING MARKET IS RED HOT AS SUMMER IS IN FULL SWING HERE ON NORTH PADRE ISLAND. NEW BUYER ACTIVITY STILL DOMINATING THE 200-400K RANGE STILL, WHICH COVERS THE MAJORITY OF THE MARKET.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO A GREAT SUMMER 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

What is the true cost when a Real Estate AGENT Cuts their commission?

In today’s competitive real estate market in Corpus Christi, some agents are offering to cut their commissions in an attempt to attract more business. The truth is that they want to be listing agents. Here are some questions to ask before listing your home with an agent who’s willing to take a “pay cut” to work with you:

WHAT IS THE REAL ESTATE AGENT‘S PRIMARY MOTIVATION FOR CUTTING THEIR COMMISSION? In all likelihood, it’s because they are in a position where they simply need the business that badly. Do you really want to trust the sale of your property to someone who is desperate for your business? There is a difference between WANTING your business and NEEDING your business.

IF YOUR PROPERTY DOESN’T SELL, WHAT HAVE YOU ACCOMPLISHED? There is a difference between listing a property and selling a property. What the agent didn’t tell you is that they will make less money selling your property than if they sell another property on the market. You want an agent who’s going to be excited about bringing you an offer.

WHICH SERVICES ARE THEY GOING TO CUT? If you cut your commission, then you have to cut service. Many factors come into play in finding the right buyer who’s willing to pay your price. To get top price for a property, you need as many services for you as you can possibly get.

WOULD YOU REALLY BE EXCITED ABOUT A 15% PAY CUT? A 1% reduction in commission equals more than 15% of the total commission or 60% of the selling agents commission. How can the agent really be excited about working for you? Is the agent being honest with you when he or she tells you that they’re excited about getting the property sold?

ARE THEY GOING TO COOPERATE WITH OTHER BROKERS? What are they going to pay the other brokers? Why are those brokers going to be excited about taking a 15% pay cut? To get top price for your property, you need to have all brokers in the marketplace excited about selling it.

IS THE REAL ESTATE AGENT A SKILLED NEGOTIATOR? If the other broker is willing to let you negotiate them out of 15% or more of their income from the sale of your property, will they also let the buyer negotiate 15% or more from the purchase price of your property? What is that other broker’s sale price to list price ratio? You might be costing yourself tens of thousands of dollars by trying to save a couple thousand dollars in commissions.

What’s the most important thing to you in the sale of your home? Is it paying a lower commission, or is it getting “top dollar for your home?” We are in the business of “protecting” the financial interest of our sellers, and want you to receive top dollar for your property, at Coastline Properties it is our mission to insure that you receive the absolute best buyer for your home!

Padre Island Housing Report May 2018

THE HOUSING MARKET IS REALLY PICKING UP STEAM AS SUMMER HEATS UP HERE ON NORTH PADRE ISLAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 200-400K RANGE STILL, WHICH COVERS THE MAJORITY OF THE MARKET.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO A GREAT SUMMER 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

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 last year in January. 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!

Restaurant Week Dining Event on Padre Island!
May 2-16, 2018

1) Check out the enticing menus
2) Plan where to dine (as many days as you want!)
3) Enjoy a delicious 3 course meal for a value price
4) $1 for each Dine Island meal goes to the Corpus Christi Food Bank

FACEBOOK EVENT PAGE WITH MENUS> https://www.facebook.com/DineIsland/

Try out a new restaurant or visit an old favorite on the Island. Help yourself, help the restaurants, help the food bank! Come over the bridge and try out the amazing restaurants. #DineIsland2018

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!

 

Padre Island Housing Report – March 2018

THE HOUSING MARKET IS PICKING UP AS WE HEAD INTO SPRING. WE ARE UP 14% ON MEDIAN SALES PRICE COMPARATIVELY TO 2017 HERE ON NORTH PADRE ISLAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 200-300K RANGE STILL.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND & PORT ARANSAS.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO A GREAT SUMMER 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

Padre Island Housing Report – February 2018

THE HOUSING MARKET IS STILL SLOWLY RECOVERING SINCE HURRICANE HARVEY. WE ARE SEEING A LULL IN PRICING COMPARED TO LAST YEAR. THE DIFFERENCE IS THE SUPPLY AND DAYS ON MARKET ARE HIGHER THAN PREVIOUS LOWS, SHOWING AN UPWARD TREND IN BUYER DEMAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 200-300K RANGE STILL.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO HAPPY & HEALTHY 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

National Market Data From NAR

EXISTING-HOME SALES SLIP 3.2 PERCENT in January 2018
Existing-home sales slumped for the second consecutive month in January and experienced their largest decline on an annual basis in over three years, according to the National Association of Realtors. All major regions saw an annual sales declines last month. The Buyer Traffic Index came in at 69 in January, up from 63 in January 2017.
GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

THE “TAX CUTS AND JOBS ACT”

Just before the New Year, President Trump signed the Tax Cuts and Jobs Act. You’ve probably read a bit on the topic, but what does it mean for all you valued homeowners out there?

The National Association of REALTORS® (NAR) worked throughout the tax reform process, on behalf of all of us, to preserve the existing tax benefits of homeowners and investors. Although many areas of the old law were retained, there were also many changes. Let’s take a look at what is different – spark notes style.

Provisions Affecting Current and Prospective Homeowners:

Tax Rate Reductions – The new law, in general, provides lower tax rates for those filing individually. Although many will pay lower taxes, it is not a blanket rule. The tax rate schedule retains seven brackets with slightly lower marginal rates of 10%, 12%, 22%, 24%, 32%, 35%, and 37%. However, the current maximum rates on net capital gains remains the same. Over the next decade, the total size of the tax cut from the rate reductions equals more than $1.2 trillion.

Mortgage Interest Deduction – Now, for loans taken out, the new limit on deductible mortgage debt has been reduced from $1 million to $750,000. Current loans of up to $1 million are grandfathered. The final bill repealed the deduction for interest paid on home equity debt through the end of the year 2025. And if the proceeds are used to improve your property, interest is still deductible on home equity loans or second mortgages. Second homes? Interest remains deductable, but is still subject to the aforementioned limits.

Standard Deduction – The new standard deduction for single filers is $12,000 and $24,000 for joint returns (indexed for inflation). This significant increase will reduce the value of the mortgage interest and property tax deductions as tax incentives for homeownership.

Repeal of Personal Exemptions – Before, filers could deduct $4,150 in 2018 for the filer and their spouse and each dependent (if any). These exemptions have been repealed in the new law. This change alone mitigates (may even eliminate) the positive aspects of the higher standard deduction, as it would more than make up for the loss of not receiving personal exemptions.

Deduction for State and Local Taxes – Although Texas doesn’t have state taxes, the new bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes.

Deduction for Casualty Losses – Now there is a deduction only if a loss is attributable to a presidentially-declared disaster.

Moving Expenses – The final bill repeals moving expense deduction and exclusion, except for members of the Armed Forces.

It sounds as though home ownership will continue to be a strong and stable driver for our economy. And NAR will continue to work hard for us. They said it best: “Home ownership is not a special interest, it is our common interest.”

Padre Island Housing Report – January 2018

THE HOUSING MARKET IS SLOWLY BUT SHOWING SOME SIGNS OF IMPROVEMENT. WE ARE SEEING A LULL IN PRICING COMPARED TO LAST YEAR. THE DIFFERENCE IS THE SUPPLY AND DAYS ON MARKET ARE LOWER THAN PREVIOUS HIGHS, SHOWING AN UPWARD TREND IN BUYER DEMAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 200-300K RANGE.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO HAPPY & HEALTHY 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

Padre Island Housing Report – Dec. 2017

THE HOUSING MARKET IS SLOWLY BUT SURELY STARTING TO PICK UP IN THE NEW YEAR. WE ARE SEEING A LULL IN PRICING COMPARED TO LAST YEAR. THE DIFFERENCE IS THE SUPPLY AND DAYS ON MARKET ARE LOWER THAN PREVIOUS HIGHS, SHOWING AN UPWARD TREND IN BUYER DEMAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 300K RANGE.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO HAPPY & HEALTHY 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

Padre Island Housing Report – November 2017

THE HOUSING MARKET CONTINUES TO BE A BIT SLUGGISH AS WE CLOSE OUT THE YEAR WITH A SNOW DAY. WE ARE STILL SEEING LOTS OF NEW BUYER ACTIVITY IN THE THE 300K RANGE.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND,PORT ARANSAS & IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO CLOSING OUT 2017, WISHING EVERYONE A VERY HAPPY & HEALTHY HOLIDAY! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

Padre Island Housing Report October 2017

THE HOUSING MARKET CONTINUES TO BE A BIT SLUGGISH AS WE MOVE INTO THE HOLIDAYS. WE ARE SEEING LOTS OF NEW BUYER ACTIVITY IN THE THE 300K RANGE.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO A GREAT 4th QUARTER OF THE YEAR, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-oct-2017

Safety 101

safety-101I just had the pleasure of taking a safety course with our own city Sheriff Jim Kaelin, in lieu of Realtor® safety month. Although the course was geared toward real estate agents learning safety tips, it occurred to me that these tips and tricks apply to far more scenarios than just being cornered in a vacant home. So I thought I’d share some of the valuable and potentially life-saving techniques that we should all keep in our back pocket – alongside our tactical keychain.

Have a Plan

The most important key to escaping your attacker is to have a plan. The whole goal is to buy yourself time to get away. Sheriff Kaelin told a story that resonated with me. He’ll get groups together, put a series of tinker toys in front of them, and give them 15 seconds to use the toys to create a horse. After 15 seconds, none of the groups had anything that even sort of resembled a horse. They were then told to try again, but they now were given 15 minutes. At the end of 15 minutes, the toys were organized by length, size, etc. and each group had a horse – a head, a body, four legs, a tail. For the third time, they were asked to build a horse, and again given only 15 seconds. The groups were silent, and after 15 seconds, they all had horses. The only difference between the first 15 seconds they were given and the second 15 seconds was that they had a plan.

In the case of an attack: Breathe. Think. Talk. Distract. Escape.

If You’re Grabbed From Behind

Do not immediately reach for your weapon. Talk. Ask them what they want. First, using your right hand, tell your attacker you’re going to grab your wallet or money clip to give to them. Then tell them you’re going to hand over your keys (or whatever it is you may have that they’re likely to want). Again, using your right hand, pass over something else. This is what they call verbal judo, where now your attacker isn’t on such high alert. Now it’s escape time. Using your left hand now, your attacker will only assume you’re reaching for more valuables (as most people are right handed and they will not expect you to reach for a self-defense tool using your non-dominant hand). Instead, pull out your mace, taser, knife, gun, pen, comb, etc. reach across your right shoulder and quickly spray, shoot, stab, etc. Your goal is not to kill – it’s okay if you do not even hit them. Your goal is to stun them enough to let you lose. Escape.

Hands as Tools

If you do not have a weapon, use your second most valuable tool – your hands. In an effort to trouble your attacker so that you have time to break away, start from the top. With your pointer and middle finger, go for the eyes. This will affect their vision and allow you to run. Nose, next. Use the palm of your hand and go straight for the nose and then their ears. Nose will cause tears and ears will cause ringing. Throat punch to knock their airway, knee to the groin (no explanation needed), and finally a kick to the shins. They should be down and you should be out!

Make Noise

DISTRACTION should play a major role in your plan. Once they think you may not be a threat as you’ve proven that you just want to cooperate, pump up the volume! All you need is for your attacker to be startled as they’ll lose their grip or look away just long enough for you to make your exit.

  • Gun shot – a clearly loud and scary noise sure to make anyone jump!
  • Keychain alarm – if you happen to still have your keys on you or in reach, hit your alarm button.
  • Personal alarms – these look like little remotes that can be set up as either motion-detector devices or as a manual activation. They emit an extremely loud sound when activated.

There are also several cell phone apps that can be helpful in a dire situation. One such app to consider downloading for your whole family is called Life360. It is a family locator, messaging tool and communication app all in one.

Chances are, you’ll never need to use these tactics. But, perhaps you and your loved ones should have the conversation – how are you going to build your horse?

 

Padre Island Housing Report – September 2017

THE HOUSING MARKET HAD A BIT OF SLOWING DOWN DOWN DUE TO HURRICANE HARVEY. AS WE MOVE PAST THE HURRICANE SEASON IN SUMMER 2017, WE ARE SEEING LOTS OF NEW BUYER ACTIVITY AS WE GET CLOSER TO HALLOWEEN.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO A GREAT 4th QUARTER OF THE YEAR, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-september-2017

Padre Island Housing Report – August 2017

THE HOUSING MARKET IS SHOWING GREAT PROMISE WITH A CONTINUED UP TICK IN HOME VALUES, AS WE MOVE PAST THE HURRICANE SEASON IN SUMMER 2017.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO A GREAT 3rd QUARTER OF THE YEAR, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-august-2017

Padre Island Housing Report – July 2017

THE HOUSING MARKET IS SHOWING GREAT PROMISE WITH MANY NEW LISTINGS, AS WE ARE IN THE DOG DAYS OF SUMMER 2017.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO A GREAT 3rd QUARTER OF THE YEAR, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

north-padre-housing-report-july-2017

Padre Island Housing Report – May 2017

THE HOUSING MARKET IS SHOWING GREAT PROMISE WITH MANY NEW LISTINGS, AS WE MOVE INTO SUMMER TIME OF 2017.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA.  LOOKING FORWARD TO AN EVEN MORE EXCITING SUMMER AHEAD, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

cchousinreportsept-2016

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 Housing Report – April 2017

THE HOUSING MARKET CONTINUES TO BE HEATING UP AS WE MOVE INTO SUMMER TIME OF 2017, THE HOTTEST TIME OF THE YEAR.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA.  LOOKING FORWARD TO AN EVEN MORE EXCITING SUMMER AHEAD, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

cchousinreportsept-2016

Padre IslandHousing Report – March 2017

THE HOUSING MARKET CONTINUES TO BE HEATING UP AS WE MOVE INTO FULL SPRING TIME OF 2017, THE BEST WEATHER OF THE YEAR.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA.  LOOKING FORWARD TO AN EVEN MORE EXCITING SUMMER AHEAD, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

cchousinreportsept-2016

North Padre Island Housing Report – February 2017

THE HOUSING MARKET CONTINUES TO BE HEATING UP AS WE MOVE INTO SPRING OF 2017.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA.  LOOKING FORWARD TO AN EVEN MORE EXCITING SUMMER AHEAD, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

cchousinreportsept-2016

6 New Years Resolutions For Buyers/Sellers

new-years-day-smallHere is our top 6 tips for the New Year

  1. Eliminate & Simplify Your Home – Buyers out there are saving for their spring purchase,  but why not start your efforts in January? This is an especially great time after the heaps of gifts that they have received. Plus, if they plan to sell your home, it will make selling the house and moving that much easier. It’s simple just start small and go room by room, designating areas for donations, things to be fixed and things to sell. The sooner you start, the better you’ll feel!
  2. Make Your Home Safter – Do you have kids (even if they don’t!), then making your home safer all around is a great resolution to make. Commit to a regular safety maintenance schedule by checking smoke and carbon monoxide alarms monthly, ensuring you have fire extinguishers and preparing the family for emergencies such as weather disasters and fire. Always replenish emergency kits, bottled water and non-perishable food items throughout the year, too.
  3. Make Your Home Smarter – Yep, that’s right!  You may have just missed the boat on making your home safe when they bought your home, but it’s never too late. Some ways to make homes “smarter”? Smart home hubs like Amazon Echo, security video monitors like Ring and smart thermostats like Nest, and even smart plugs and bulbs to bring your home into the 21st century.
  4. Consider Refinancing – Maybe its time to decrease your payments or lock in a low fixed mortgage rate through refinancing. Shopping around for the best rates is a great way to find one the lowest one that works for you and will make your wallet feel a lot better come 2018.
  5. Get a Green Thumb – No, not go out and garden although an argument could be made for that as well. Change your light bulbs to energy-efficient LED ones. This will also help you save money. Another way to be greener is to clean the house with reusable cloths or old, clean rags versus wasteful paper towels (however, use good judgement for especially dirty messes).
  6. Do Something to Help Someone – Yes, it is 2017… the election is over and we are still all just human beings.  We must let go of the past no matter what side of the fence we sit and come together as a nation more than ever now.  If all else fails and you can’t find anything you could do to help your fellow man, than for goodness sakes just smile a ton.  Your mind will come around sooner or later!

Share these five tips with your friends and family and help them be better homeowners and prepared sellers when the time comes!

Happy New Year from your Coastline Properties Family!

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

 

North Padre Island Housing Report – November 2016

THE HOUSING MARKET CONTINUES TO BE HEATING UP AS WE WRAP UP 2016.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA.  WE WISH YOU A VERY HAPPY HOLIDAY SEASON, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

nov2016housingreportnorthpadreislandtexas

Coastal Bend Troop Support

We are thrilled to support and honor many charitable affairs during the year.  Please have a look at a recent charity designed to truly help our military in war zones across the globe.  Get involved and give what you can to support this great cause! ~Coastline Properties Team

Coastal Bend Troop Support

Sending care packages to our American Heroes!

It is with great pleasure that we write to invite you to join us as we work to the launch of the 1st Annual North Padre Island Coastal Bend Troop Support Crawfish Boil. A tentative date of the event is April 29th, 2017.

Coastal Bend Troop Support (CBTS) is a local 501c3 public charity that supports our military in war zones by providing care packages.  Each month volunteers pack and mail boxes to 120-150 individuals.  Each year, the Rockport group hosts a crawfish boil to raise awareness and funds to help our Veterans overseas.  We would like to share the experience with our Island residence as well as reach out to those Veterans that are closer to North Padre Island area.

We are in the very beginning stages of planning and would be honored if you would join us to support this organization.  Our next meeting will be Thursday November 10th at 9:00 am at Island Joe’s Coffee, 13919 SPID. Please let us know if you or someone from your organization would be interested in this opportunity to honor those who sacrifice so much for our Country.

Caren Colmery Childers, Co-Chair                 Mona Singleterry, Co-Chair                                                            361-774-8500                                                   361-960-9597

carenchilders@msn.com                                monasing@stx.rr.com

http://www.coastalbendtroopsupport.com/

Proud To Be the Face of Padre Island Real Estate

We are so excited to be nominated for the 2nd year in a row from “The Bend Magazine” to be the Face of Padre Island Real Estate!  This year has been a great year for Real Estate and we are eternally grateful to all of our clients for allowing us to serve them by giving them the absolute best service in the the industry!  We look forward to another year ahead to give our current and future clients the very best attention and world class service.

OUR PLEDGE:

WE PLEDGE to be honest and always put my client’s interest first. WE GO BEYOND what the law requires.  WE FIGHT for homeowners’ rights.  OUR CLIENTS have a lot at stake. We owe it to them to be more than just an ordinary real estate agent. WE VOLUNTEER in our community, because we live there too.  WE WORK HARD to create opportunities for more to people to afford homes. WE TAKE COURSES to increase our expertise and skill sets, so we can better serve you as a homebuyer, seller, or commercial property investor & rental property owner. WE ABIDE by a strict code of ethics.  WE ARE PROTECTORS of our clients and insure they get the absolute best from us and their real estate transactions.  WE GIVE to our community and support many charitable causes, not because we have to… because WE BELIEVE it is our duty to our community to give back to those in need. IN GOD WE TRUST!

coastline-prop-composite-preview-smaller

Padre Island Housing Report – September 2016

THE HOUSING MARKET CONTINUES TO BOOM IN OUR NECK OF THE WOODS.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX.  CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA.  THE SUMMER IS OVER NOW AND WE ARE HEADING INTO THE HOLIDAYS, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

cchousinreportsept-2016

THE TIME OF THE TOWNHOUSE

islandtownhomes448x298These dwellings are having their shining moment, thanks to an increased demand by both first-time buyers and Boomers alike! Both appear to be seeking the appeal for walkable communities in which the amenities are grand, you can get a great bang for your buck, and often less maintenance (big perk for both busy, young families and Boomers alike!).

Nationally, the number of townhouses built last year increased 18% percent over 2014. Here on the Island, the number is even more incredible!

70 townhomes were sold between September 15, 2015 – September 15, 2016

44 townhomes were sold between September 15, 2014 – September 15, 2015

That’s a whopping increase in townhome sales! The long-run prospects for townhouse construction are positive given the large numbers of homebuyers looking for high density “neighborhoods,” near the action (eh em, the new Marina District perhaps?) that offer proximity to the happenings along with community amenities.

Perk #1: Own That Land, You American Dreamer You!

What’s the main difference between a condo and a townhome you ask? It’s simple. As a condo owner, you own only your unit, nothing below or above you. As a townhome owner, you own the planet Earth beneath you, and the sky above you. And, as the Homeowners Association will nearly always maintain the complex grounds, you can be a lazy bum and still have a nice yard, albeit likely small.

Perk #2: That HOA Though…

So you own a nice patch of grass, or maybe a cute pom pom bush. Your HOA will take care of it! Many HOAs will even allow owners to plant that desired petunia border you’ve always dreamt of, just ask. So long as you pay your monthly dues, your grass will be mowed, your exterior painted, your roof re-shingled, your pool cleaned, your exterior insurance paid, and the list can go on. Now, each HOA will be different, and each will have a list of items they maintain and don’t maintain, so make sure you know what’s agreed upon and who does what in the yard. As many prefer to keep the fronts looking manicured and uniform, you may have to plant your Sneezewort Yarrow in the back.

Perk #3: Don’t Ever Leave!

When you buy a townhouse, it often comes with a community, and that community has amenities. Some developments have a pool, a laundry room, possibly boat slips (if on the canal) maybe a recreational room, etc. You may not have to leave but to go do your grocery shopping! This can be very appealing. And as an owner, you own a percentage of each of the common facilities.

Perk #4: Save Some $$

Although this isn’t a steadfast rule here on Padre, townhouses can be less expensive than single-family residences. Townhouses sometimes have the fancy upgrades built right in that you otherwise couldn’t afford in a house, like granite countertops, high-end appliances, or eco-friendly materials. And although they are often multilevel that share a side wall or two with another unit, they can have as many bedrooms and bathrooms as will fit in the floor plan, just like a single-family house. The point is, you can get a lot of the same stuff in a townhouse that you can find in a regular house, but you typically pay less for it.

Perk #5: Tight-Knit Community

Having Mrs. Kravitz nearby isn’t always a bad thing! With units that are close, and parking areas that may be shared, it’s possible that you and your neighbors see and know what’s going on with one another. As most townhomes on the Island do not allow short-term rentals, the neighborhood is often more stable in terms of less turnover and more face familiarity. This can be desirable for the young family who needs neighborly help watching kids, or the more “medically fragile” older couple who may find peace of mind knowing that their neighbors could check on them if they go sight unseen for a day or two. Travel a lot? Now Nosie Nelly doesn’t seem so bad, as she’ll be able to stink eye anyone who looks out of sorts lurking around your townhome.

With 84 townhomes currently for sale on the Island, maybe it’s time to pay them some attention!

Water Culverts Lead to Padre Island Bridge Concept

Do you want to know how it all got started?  Here on North Padre Island there is a lot of dirt moving around and lots of new folks would like to know the story behind the story.  Well, what started out as a water quality upgrade for our canal systems has turned into the largest development project we have ever seen.  This is bigger that Schlitterbahn folks, take a look at the article below for a nice summary from the words of the developer.

Exerpt:

When the Army Corps of Engineers deemed a new water exchange between Padre Island, Texas, and an old canal system was necessary, the city of Corpus Christi and private developers could have simply gone with culverts. That would have satisfied the need for a water exchange to improve water quality issues.

But as talks opened about the requirement for the water exchange, the potential and its impacts became increasingly obvious. Now, instead of a simple culvert, there will be an open canal, two bridges and a pedestrian walk, the impact of which should benefit the area in numerous ways.
“The developer suggested the bridge and relocating so it could be elevated and boat traffic could come through,” said Chip Urban, a principal with Urban Engineering, consultant to the city of Corpus Christi for the project. “The Coast Guard liked it because they would have faster response time to the back of the canal. It is going to be an economic driver that helps development. It will also help people come to the island and get out of their cars and stay out and spend time on the island. It will allow traffic on both sides. In the past, there was traffic on only one side. Elevating the bridge and allowing pedestrians underneath is just much more resort friendly.”  READ MORE

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
 

Padre Island Housing Report June 2016

The Housing Market is Hot,Hot, Hot right now.  Take a look at the statistics on what’s happening here on Padre Island in Corpus Christi, TX.  Click on the Picture below and get a full PDF to print out to keep track of this data.  The summer is going by fast, give us a call and discuss the many opportunities to own a piece of coastal Texas! (361) 949-0101

padre-island-housing-report-june-2016

Hydrostatic Testing

plumbing-840835_640You got your home under contract! You’re so excited, a buyer loves your home as much as you do! Then, inspections are set up. The three inspections typically performed on a home here are the general inspection, the pest inspection, and the plumbing inspection.

It’s this last one that seems to be an inspection that, as of late, has been causing some unease among sellers.

Fear not, sellers! The truth is, this is not at all a scary or intrusive test. But it is an important one. The only way to calm a fear or unease is to be well informed. Here I’ll break it down so that when the time comes, as either a buyer or a seller, this test is nothing to think twice about.

Definition: A hydrostatic test is a way in which pressure vessels can be tested for strength and leaks.

Don’t let the word pressure fool you. There is a common misconception that pressure is put on your system during this test. That is far from the truth. What the plumber does is quite simple. They will find your sewer cleanout/sanitary drain pipe and insert a testball/balloon into the piping and inflate it near the perimeter of the foundation. Next, they’ll simply fill the system up with water. They will then find a commode and/or shower on the lowest level and monitor the water levels. If the water maintains its level (they’ll typically watch for roughly 15 minutes) then there are no leaks! IF the water happens to fall, there is indication of a leak somewhere in the system.

Leaks often occur when foundations have shifted. Because we are built on sand here on the Island, it’s relatively rare to have a failed hydrostatic test as foundations move less on sand. In the case of a failed test, the next step is to find where the leak actually is. That test is slightly more involved, but still not dangerous to the system. An Isolation Test is what should be scheduled next, and this test finds the actual source of the leak. It’s smart to have a different plumber perform this test to eliminate the possible suspicion of an intentional failed test to get more business (as the isolation test is far more expensive).

The entire inspection/hydrostatic test takes roughly 20 minutes. Like a ninja in the night, you may not even know they were there! Our local plumbers are knowledgeable, true professionals who are happy to answer your questions or concerns.

Note: This test typically costs around $85, and only a licensed plumber is to perform this inspection.

Did you know? A hydrostatic test is DIFFERENT than a static test. They are sometimes accidentally interchangeably used in casual conversation regarding the plumbing inspection, and there’s where some confusion can occur in terms of whether pressure is put on your system during a hydrostatic test. A STATIC test is what indicates pressure, and you can do it yourself – it’s a gauge that you can purchase at any hardware store that you screw on to your hose bib. Then, turn the water on and the gage will tell you how much pressure it is outputting. Don’t let a static test be confused with a hydrostatic test.

CONSUMER BEWARE: Rebuilding after a disaster

contractors2With the flooding and other tragedies that have occurred across the state, it is important that consumers be aware of Chapter 57 of the Texas Business and Commerce Code that was enacted by HB 1711 effective September 1, 2011. The bill applies to contractors who remove, clean, sanitize, demolish, reconstruct, or otherwise treat improvements to real property as a result of damage or destruction to that property caused by a natural disaster. Specifically, it requires that a “disaster remediation” contract must be in writing and prohibits a “disaster remediation contractor” from requiring payment prior to beginning work or charging a partial payment in any amount disproportionate to the work that has been performed. However, the statute exempts contractors that have held a business address for at least one year in the county or adjacent county where the work occurs.

Please see the text of HB 1711 for details. Contact your local Home Builders Association for a list of contractors.

Download this document for important phone numbers and information on rebuilding after a disaster. (CLICK HERE TO GET YOUR PDF)

Colleen McIntyre will not seek reelection

District 4 City Councilwoman Colleen McIntyre said Monday she has decided this will be her last term as a Corpus Christi City Council member.

McIntyre has accepted a position as the director of Seashore Middle School and as the superintendent of Seashore Charter Schools on Padre Island.

McIntyre told KRIS 6 News her new position makes it difficult to put in the time and effort to serve on City Council.

She has served for two terms.

“Being with all of the different groups in the community. Being able to help with… whether it’s code enforcement, animal control, zoning cases, all the different things that I’ve dealt with in the areas of the district I’ll miss that a lot,” said McIntyre.

Her term will end in November. via Kristv.com

We want to personally thank Ms. Colleen McIntyre of her dedication to city council over the past 2 terms. We truly have enjoyed her keeping an eye on padre island interests and much of the work she has completed and set into motion during her term. You will be missed, and we are excited for your new position to lead Seashore Middle Academy forward into an even more successful future. Thank you again for your service in our city government, we feel blessed to know you! ~Coastline Properties

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)

THE REVERSE MORTGAGE, REVISED!

reverse-mortgage-corpus-christi

It’s no longer just a refinance tool, but now also for use with purchases!

First let’s review what a reverse mortgage is. It’s a loan available to homeowners who are at least 62 years old, where instead of making monthly payments to a lender, the lender makes payments to the borrower. The idea is to aid elders and retirees who have wealth in their homes, but have limited income, to cover their basic living expenses and health care expenses.

BUT there is a new program that we should know about. It is called the Home Equity Conversion Mortgage (HECM) for Purchase product. This can greatly enhance the real estate service options we can offer our senior customers who would like to purchase a new home while still maintaining their retirement goals. Many mortgage companies in our Coastal Bend now have departments offering this option, which could be valuable for many seniors looking to relocate closer to family members, downsize, upgrade, or move to an active adult community.

This is an exciting option for qualified homeowners who are purchasing a home. This mortgage option allows homeowners to keep the home in their name while not having any monthly payments.

Who qualifies?

If you are 62 or older, will use the home as your primary residence, have no federal debt delinquency, can pay annual property taxes and homeowners insurance, vow to keep the property presentable, the property meets FHA guidelines, and agree to participate in a counseling session, YOU are qualified!

So how does it work?

When bundling the HECM with a new home purchase, the buyer can buy the property by mixing the HECM loan proceeds along with the proceeds from their previous home sale and/or savings to complete the transaction.

For example: Charlie is looking to downsize. He receives $700,000 from the sale of his home. He buys a home for $300,000. HECM loans Charlie $160,000 ($10,000 to cover closing costs). Charlie puts $150,000 as his downpayment. The remaining $400,000 goes straight into Charlie’s pocket!

  • It involves financing that doesn’t require monthly principal and interest mortgage payments
  • It includes increased purchasing power for those who are upsizing or downsizing
  • It has a streamlined closing process as the buyers are purchasing and getting a HECM all in one transaction
  • It may include supplemental income to support a better retirement, including a growing line-of-credit

Repayment

Just like other loans, the HECM loan must be repaid. But it is unlike traditional loans in that this repayment isn’t due until the owner has sold the home, no longer uses it as their primary residence, or passes away. When one of these scenarios occurs, the HECM and any accrued interest and mortgage insurance must be paid, but the perk is that the homeowner will never pay more than the home’s market value at the time of repayment.

So run, don’t walk! Your dream retirement home is waiting…

Coastline Properties – The Face of Padre Island Real Estate

We are delighted to have been nominated “The Face of Island Real Estate” in this months Issue of The Bend Magazine.

It’s incredible to discover so many other community leaders that are making waves in the Coastal Bend by being dedicated to their profession.  We salute all those businesses out there that truly understand the nature of customer service and work so tirelessly to care for and understand their clients needs.  Thank You Corpus Christi!!

coastlinebend1  coastlinebend2

 

The Bend Magazine – November 2015

LIGHT APPROVED AT INTERSECTION OF AQUARIUS AND SPID

LED_traffic_lightSTOP! Or, you soon will be! On August 18th, a traffic light at the intersection of Aquarius and SPID was approved by the City Council.

After years of monitoring the intersection, results showed a daily average of over 33,000 vehicles during the summer months of 2012, and that number has continued to increase over the years. And on other parts of our barrier island, such as Galveston and South Padre Island, the speed limit is much slower going through their business districts.

Drivers coming over the JFK Causeway toward the island will be given a warning to the upcoming light when the traffic is backing up to the high peak of the bridge. This is meant to decrease the likelihood of collisions with the cars that are stopped at the light. There have been numerous attempts over the years to place this light, but the short distance between the intersection and the top of the JFK has been a reason for several failures to get the appropriate approval. But, city traffic engineers have done their due diligence and have given it the thumbs up.

Word on “the street” is that Turner-Busby Development, based in San Antonio, is looking to use the site on the east side of SPID near the intersection of SPID and Aquarius Street for a development called Packery Pointe Subdivision. This traffic light is simply part of their plan, and is set to be coordinated with the other lights along SPID. The light may cost up to $600,000, and will provide a convenient physical stop for vehicles to turn into this new development.

Turner Busby Development has apparently been working on the plans for the $30 million development for a few years. It will likely include a hotel, retail sites, Starbucks, small bar/restaurant, and even possibly some single family homes.  Now that Schlitterbahn is in full swing, it sounds as though the developer is more confident in beginning the project.

But, change is often met with opposition, as many residents are weary to the whole thing. The main concern seems to be that the signal could cause large traffic backups, and the new development with its possible chain restaurant(s) and commonality feel will ruin the quaint, quiet, and familiar island feeling.

Hey, if you can’t beat ’em, join ’em!

TEXAS WINDSTORM REFORM BILL

twiaIt’s no secret that it costs a lot to live on the coast, especially once you add up your taxes, homeowner’s insurance, flood insurance, and windstorm insurance. And in 2012, the Texas Department of Insurance (TDI) proceeded forward with several proposals to fund the Texas Windstorm Insurance Association (TWIA), the provider of last resort for windstorm insurance on our coast. It was then that TWIA adopted a 5% increase on all residential and commercial windstorm insurance policies to policyholders in the 14 counties (Aransas, Brazoria, Calhoun, Cameron, Chambers, Galveston, Jefferson, Kenedy, Kleberg, Matagorda, Nueces, Refugio, San Patricio, and Willacy) comprising the Texas Coast. This was the third rate increase since 2009. But the long fight is finally over.

Back in May, State Rep. Hunter announced that Senate Bill 900 has passed the Texas House of Representatives, a major victory.

And now after years of the unknown, Texas Governor Greg Abbott has just signed into law the Windstorm Insurance Reform Bill. The bill will spread the cost of storm-related increases to the rest of Texas instead of having the lion’s share being paid by the 14 coastal counties.

Last year, on March 5, over 400 residents came to a public hearing the city held at Texas A&M for our residents to voice their opposition to the proposed “tax,” as State Representative Todd Hunter referred to it. He pointed out that the TWIA website specifically states that they do not discriminate against geographical locations, which is exactly what this surcharge would have done. Rep. Hunter suggested doing an economic analysis on the minority groups affected. Perhaps his suggestion was heard.

Hunter believes the measure will benefit property owners along the Texas coast should a hurricane strike. For instance, when hail or tornadoes pummel other parts of Texas, funding from our coastal counties goes toward aid. But what if our coast gets hit with a hurricane? It has been on us and us alone to pay for the damages. This has made many of our residents scratch their heads. But this bill creates a new funding structure to provide fair and better insurance rates throughout the 14 coastal counties in Texas. It also changes the makeup of the Texas Insurance Board.

Over the years, there has been a lot of support from our local power forces. Mayor Nelda Martinez explained this surcharge would have a burdensome affect on the momentum of our community, and that an increase in insurance over the past 14 years will economically sink these 14 counties. She wrapped it up by saying “Mother nature doesn’t discriminate…”

JJ Johnson with TPCO American noted that with all the new big plants coming to Corpus (TPCO, Cheniere Energy, M&G Chemicals, Schlitterbahn…) there will be thousands of workers, too. We need to ensure that our new laborers on blue-collar salaries can afford to live here.

State Senator Juan “Chuy” Hinojosa commented on the misconception that all coastal residents are rich. In reality, we’re just like the rest of working America, where many of us can’t afford to pay much more.

At the Corpus Christi Association of Realtors luncheon at the Corpus Christi Town Club on March 13 2014, Representative Hunter explained that they will probably pass the rule, but they may be hesitant to enforce it. He promises to “fight them forever.”

Here’s to hoping he doesn’t have to!

Major Changes Coming to Mortgage Disclosures

THANK YOU FOR YOUR PATIENCE

“Patience is power. Patience is not an absence of action; rather it is “timing”

it waits on the right time to act, for the right principles and in the right way.”

― Fulton J. Sheen

 Changes-Ahead

Come October 1, there are major changes coming to mortgage disclosures that I would like to share with you. Buyers, sellers, loan officers, title companies and real estate agents will all be affected.

No longer will there be a HUD-1 Settlement Statement or a Good Faith Estimate from a buyer’s lender. Both forms are going “bye-bye,” as is the Truth in Lending Act (TILA) disclosure form. Replacing them are two new forms: the Closing Disclosure and the Loan Estimate.

Why does this affect anyone aside from those on the real estate, lender, title side? Because there are also new rules for the closing procedure, where the buyers and sellers tolerance come into play, as closing delays are almost unavoidable for the first few months.

One rule requires all forms to be ready three (business) days prior to closing. The National Association of Realtors recommends all closing documents are actually ready an entire week prior to closing, or “consummation” as is the new verbiage (yes, chuckling is OK).  So if everything is ready seven days prior to consummation, when you go into the three-day period, there are likely no changes to make. Because making changes as the countdown ensues comes with a cumbersome set of hurdles.

Everyone involved in the transaction is under pressure to get everything squared away earlier than in the past. Currently, the settlement statement can be completed and approved just hours before closing. Gone are those days. And as aforementioned, the buyers and sellers have to be cooperative, because if last-minute changes are made, a new three-day waiting period kicks in. Are there exceptions you ask? Yes! Bona fide financial emergencies such as the imminent sale of the consumer’s home at foreclosure. Any financial emergency must be accompanied by a written statement and will be very fact intensive.

The good news is, this doesn’t affect cash buyers, and many Realtors, Lenders, and Title Companies are taking the time and courses to get familiar with this new system and forms so we are ready! Communication will be KEY. But patience, grasshopper, good things come to those who wait.

PREPPING YOUR HOME FOR A SPRING SALE

Sell-a-home-in-the-spring

Spring cleaning isn’t the only thing many people do in April here in South Texas – it’s also the beginning of the popular time of year to sell property! If you’re considering listing your home this Spring, my guess is that you want to sell quickly and get top dollar. Right? Well now that the sun is shining and the checkbooks are coming out of hibernation, consider these steps!

  1. Shop around. For an agent that is! A size 9 shoe will fit no matter which store it’s from, but not every agent will be the right fit for you. There are many options…many GOOD options. Ask questions that are important to you (do they host open houses, do they market their listings, do they provide feedback and advice). Find the agent whose vision matches yours.
  2. Price it right. This sounds like an obvious suggestion, but an overpriced home may not sell as quickly as one that is priced right. Sometimes the longer a home sits, the more buyers may wonder “what’s wrong with it?” A well-priced home is more likely to move, get multiple offers, get the sales price both seller and buyer desire.
  3. De-Personalize. When a buyer steps into your home, you want them to envision their own life there. As beautiful as your family portraits are, it may make it harder for a buyer to visualize – this goes hand in hand with STAGING. If a room is designed as an office but you use it as your exercise room, do your best to turn it back into an office.
  4. The heart of the home – it’s most likely the most important room for the majority of buyers. Anything you can do to upgrade or stage your kitchen will be beneficial.
  5. Mow! Or…rake your rock garden, or do whatever maintaining needs to be done to grab positive attention at the curb. Curb appeal is like the book cover – you don’t want buyers to not even open the door because the exterior is unappealing.
  6. Make your house shine, sparkle, smell of roses (or sugar cookies or bahama breeze or whatever lights your wick). There’s no bigger turnoff than a home that hasn’t been sustained. This is especially important if you have pets. Love the fur babies, but don’t want to smell them!
  7. All clutter and valuables. Any extra “stuff” lying around is distracting, and valuables are even more so! Clean out your closets, jewelry boxes, china cabinets, knick knacks, collectibles, etc. and stick it in a storage unit. It’ll make moving easier when that time comes, anyway!
  8. Lighten up! Your home is bigger, happier and brighter when blinds are open and all bulbs are working. Quickly changing out your burnt bulbs is probably the fastest task with the largest reward. Unlike your dancing partner at the nightclub, a home is prettier in the light!
  9. They will be opened. Not because buyers are snoopers, but because buyers like to see storage spaces. Best to tidy up those drawers, organize your pots and pans, alphabetize your spices. Ok, you don’t have to go THAT far, but you get the idea.
  10. Selling your home/memory keeper/safe haven, can be an emotional challenge. Start the detachment early! Think happy thoughts of your next journey, your next sanctuary. So when that offer does come in, you’re ready and it’s more about business than attachments.

 

 

Oil prices drop, Corpus Christi’s rent prices don’t

corpus-christi-rentalsCORPUS CHRISTI – Plunging oil prices may be a relief for Coastal Bend residents at the pumps, but they’re having little influence on rents or mortgage payments.

Experts predict the falling price of crude will force housing costs in energy-dependent Corpus Christi to drop at some point.

That day won’t come in 2015, they say.

The housing market in Corpus Christi is perhaps the tightest it has ever been for both potential renters and those looking to buy a home. Things won’t change for the rest of the year, despite a rush on home and apartment construction, said Jim Lee, the chief economist at Texas A&M University-Corpus Christi.

Oil field workers who lived in apartments in Corpus Christi are moving to Alice, Cotulla and other small towns within the energy play to be closer to work, said Melissa Gomez, a broker for AAA Apartment Locating in Corpus Christi. Others have been moving out of higher-end luxury apartments and into older, more-affordable complexes to cut costs.

The exodus has created hundreds of apartment vacancies since November, but rent prices remain unchanged. Instead of lowering rents, property managers have eased move-in criteria to insure occupancy. Applicants with credit and rental-history blemishes and those whose income is less than three times the cost of rent are no longer being disqualified for apartments.

“We’ll see a decline in occupancy rates here and there … but they (complexes) won’t empty out,” Gomez said.

The average price of homes in Corpus Christi hit a record high of $207,700 in December, according to the latest data from the Real Estate Center at Texas A&M University. That same month, the asking rent for a typical apartment in the city was 25 percent higher than it was just four years ago.

Five recently completed apartment complexes have been cleared since March to take in tenants. Another dozen are in various stages of construction and are due to open in coming months.

The Corpus Christi area’s apartment occupancy rate was 92.5 percent in December, according to ALN Apartment Data, a Carrollton-based firm that tracks rental property trends. That’s down from 94.3 percent in November and the record months of December and April, when occupancy hit 95.2 percent.

Average rent in Corpus Christi in December was between $842 and $880, an ALN report said, though it’s not uncommon for newer complexes to ask for more than $1,100 for a one-bedroom home.

Corpus Christi’s low unemployment has been a magnet for thousands of job seekers in the past three years, most of them eyeing work in the Eagle Ford Shale energy play. The trend has slowed recently as energy companies have scaled back shale production, even shaved jobs, trying to remain profitable.

Falling oil prices and cutbacks in shale oil production by energy companies will put “downward pressure” on the local housing market, Lee said. However, the majority of newly constructed apartments are likely to be absorbed by students at Texas A&M University-Corpus Christi and personnel from the nearby Naval air station.

“The overall housing market in Corpus Christi, including single-family rental houses, will likely soften up after reaching its current peak, but the market for apartments might continue to be tight at least the rest of the year,” Lee said.

Apartment occupancy in Corpus Christi in January 2010 was 89 percent, and average rent was about $700.

Warren Andrich, CEO of the Corpus Christi Association of Realtors, was optimistic about the home sales market, while conceding more rental property was needed in the city.

The Real Estate Center reported that 375 homes were sold in Corpus Christi in December, typically a slow sales month.

The Coastal Bend’s economy, though heavily influenced by the energy industry, is diverse enough to support an increase in housing, Andrich said.

Although homes values are increasing and are being sold at or near their asking prices, Corpus Christi’s inventory of affordable homes — those priced between $125,000-$165,000 — is less than 300 units.

“These are all indicators that we were in need of the additional rentals coming on the market,” Andrich said.

Twitter: @Caller_ChrisRam

Corpus Christi Apartment Market (December 2014)

Occupancy Rate: 92.5 percent

Asking Rent: $880

Effective Rent: $873

Average Apt. Size: 850 square feet

Average Market Rent Breakdown By Floor Plan

Efficiency, $671

1 Bedroom, $753

2 Bedroom, $944

3 Bedroom, $1,084

4 Bedrooms +, $2,181

Source: ALN Apartment Data

Housing Activity (Annual figures)

Year No. of sales Average price Median Price Months of inventory

2004 4,745 $132,100 $113,800 4.6

2005 4,894 $147,300 $125,200 5.0

2006 5,192 $153,300 $130,400 6.2

2007 4,510 $162,000 $136,500 7.4

2008 3,773 $162,200 $138,900 9.0

2009 3,444 $155,500 $134,800 10.2

2010 3,445 $152,300 $136,500 10.3

2011 3,396 $157,500 $135,700 9.5

2012 4,058 $169,900 $142,300 7.1

2013 4,589 $180,700 $152,200 5.3

2014 4,721 $197,100 $168,600 4.5

Source: Real Estate Center, Texas A&M University.

via @callertimes

Construction Resumes on Schlitterbahn Corpus Christi

sclitterlove

Exciting News going on over at Schlitterville.  Progress continues after partnership negotiations have concluded.

KIII News Video
KiiiTV.com South Texas, Corpus Christi, Coastal Bend

Dale Rankin – “Work at the moribund Schlitterbahn Upper Padre waterpark is kicking back into high gear after a refinancing of the 75-acre waterpark and resort went into slowdown in the middle of 2015 due to a redesign of the project which doubled its size.
“We are fully funded and getting back to work,” Project Manager and part-owner Jeff Henry said from his crowded and cluttered office on the site on Tuesday. “ Our self-imposed goal is to have the waterpark finished in 70 days.”
As part of the new deal local businessman Willard Hammonds sold his one-third interest in the project to the Henry family, who own the Schlitterbahn chain and will now own a 67% interest in the local park, with the remainder continuing under the ownership of a group formed by Developer Paul Schexnailder. Estimated cost of the park at the beginning of construction was set at around $50 million, while park officials would not give a final figure for the cost of the park, sources place the number between $75 million and $100,000 million, depending on further changes in the design.
“We will concentrate first on getting park finished,” Henry said, “Our goal is to have the entire park ready to open by Memorial Day.”
But Henry said that while his goal is to have the entire park ready to open this summer, it will be actually be operated under a “brown out” system, in which portions will be opened to the public while others may remain closed.
“When we increased the size of the park,” Henry said, “it now will take 8000 people to fill it up and there is not enough time to do the advertising and planning for that many people this summer, and there is not enough time to hire the staff.”
Checks began going out this week to contractors who were owed back fees, and hiring for the project has now begun.
“We have about 1000 yards of concrete left to pour,” Henry said. “In spite of how it may look we don’t really have that much left to do.”
He said the first priorities will be the Downhill River, an 8000-linear foot waterway that will convey park visitors from one ride to the next, along with the Flow Rider feature which produces a standing wave. He said work on the 90-room hotel at the site will have to wait, however the exterior of the building is expected to be finished by the end of September to meet the deadlines set for $117 million in tax incentives from the City of Corpus Christi.
“We can’t there this summer on the hotel,” he said. “We will have the first floor and possibly the second floor open this summer.”
The fourth floor of the building has been redesigned to include a music venue large enough for about one thousand people.
As a side note, the machinations of building the park and the re-financing have all been captured on camera by the Travel Channel which has scheduled a special on Henry and the project for July 1.
“We still have some surprises in store,” Henry said. “But we are back on track and back to work. When we are finished this is going to be a great park.”

The Art of Negotiating

youwant

Whether you’re trying to get the best price at the flea market, ask for a higher salary, or buy a new car, having good negotiating skills is important. Luckily, during a real estate transaction, you have a hired professional to do the tough stuff for you! Whether you are buying or selling, your agent should be representing your needs and wants through this fine art of negotiating.

Some may believe that negotiations are “all or nothing.” That one party wins over the other. This could not be further from the truth. While the goal of negotiation is most certainly getting what you want, the fact is that the best deals incorporate terms from both sides.

First, think about what you want to achieve from the process. Make a list of what you want from the negotiation and why. This helps determine what would cause you to walk away so you can build your strategy within acceptable terms. Try, also, to understand what your counterpart’s motivations are as this is equally as important. By studying the other side’s goals, it may help you frame your own by realizing that there’s a solution for you both. The single most important tool you and your agent have is preparedness. Communicating with each other the main goals and why they’re the goals gives your agent the best negotiating power there is. Follow these steps:

1.      Establish a fair sales price. Your agent should run a comparative market analysis (CMA) for you to assess what a fair asking price is based on other sales in the area.

2.      Establish what you can afford. If you’re buying, your agent should be able to help you with this a bit, and if you’re working with a lender they will be invaluable here. If you’re selling, what is your bottom line?

3.      Decide what other things would be a deal breaker. Price is typically the most important factor. However, it may also be a deal breaker if you’re selling and you cannot afford to pay the buyer’s closing costs at their request, or you’re the buyer and your insurance requires a windstorm certificate that the home doesn’t have.

4.      As a buyer, when it comes to inspections, negotiating repairs can become just as important as presenting the offer itself. If the home you’re seeking isn’t advertised as being sold “As Is” then you likely have some negotiating powers when it comes to repairs.

5.      Try not to get emotional. This is a tough one as a home is personal. And if you get too emotional, you may make an exception to your goals. But your agent is there to represent you, your goals and to make it about business so this doesn’t happen.

From there, your licensed Real Estate Agent should be able to clearly communicate your desires.  It’s your agent’s job to ensure you are represented correctly, fairly, and your voice is heard! It’s all about collaborating to meet both ends, making it a “win/win” situation.

What should you look for in an agent? These characteristics may be beneficial: An active listener, someone with a reputation of getting along with others, someone with a mild-mannered and optimistic personality, and a clear but firm communicator.

So sit back, and let US work for YOU. If you’re feeling like your agent is trying too hard to convince you to forgo your main goals, then perhaps it’s not the right fit. There’s a solution to every problem. Think outside the box, discuss rather than argue, and don’t forget, it never hurts to ASK!

Corpus Christi City Council Votes Unanimously for 7 Month Extension to Schlitterbahn Upper Padre

approved

KiiiTV.com South Texas, Corpus Christi, Coastal Bend

Jeff Henry, Schlitterbahn Owner

City Council unanimously agreed Tuesday to grant a six-month extension to Schlitterbahn, allowing them to continue to qualify for millions of dollars in tax rebates.  The extension to Sept. 30 means some $117 million in rebates will go back to developers as long as the park is finished by that time. At last word, developers hope to open the park by summer, after a year of delays due to an unplanned expansion of the facility on their 550-acre plot of land on Padre Island plus Partnership challenges they are set to move forward!

Coastline Properties knows that great things come to those that are patient, things don’t always go as planned and masterpieces take time.  We can’t wait to see you all poolside this summer.  Have a beautiful Week!

~ The Team at Coastline Properties!

Latest on Schlitterbahn Corpus Christi

tubing
Schlitterbahn will look to get their extension for the tax incentive package by Tuesday 2/3 evening, but things look very good for an Opening in May just as summer starts to roll in. We are still so excited to see it in full operation!

THE TRUTH ABOUT FORECLOSURE AUCTIONS

foreclosures

Foreclosures: There’s something about them that makes ears perk up. A “good deal” is hard to ignore…but what are the foreclosure auctions all about? Here are some tips and tricks if you ever find yourself with a paddle in your hand, bidding on your very own foreclosure.

1. Bring the funds with you. This must be in the form of cash or a cashier’s check

No personal checks, pre-approval letter, or your mom’s famous coffee cake. These simply won’t cut it.

Because you pay directly on the spot upon winning, you don’t want to overpay as it will take approximately 30 days to get that refund. Instead, if you’re coming with a cashier’s check, come with multiple denominations so that you can add them together to create the appropriate amount. Also, have them made out to you so you can deposit the left over checks back into your bank account. If you win, you simply sign them over.

If, however, you are in an auction online, you have a bit longer to come up with the funds.

*Some companies charge a percentage of the final sales price as a buyer’s fee. Be sure to ask about this, or read the fine print.

2. Do your research: Foreclosures are sold “AS IS, WHERE IS, NO PROMISE OF ANYTHING.”

There is no guarantee of a clear title, functioning plumbing, electrical, structural issues, etc. You must do your due diligence to make sure you know what you may be purchasing. Liens on properties are public record and can be found online or at the local courthouse.

3. Opening bid does not necessarily mean you can get the property at that price.

This number is normally set by the foreclosing lender, and is usually the estimated loan amount owed to the lender. Sometimes, the opening bid is simply an estimated minimum by law that includes only taxes delinquent on the date of judgment, or a number that the creditor believes will spark interest. This minimum bid can be just a tool to get the bidding ball rolling  – but if the bids do not reach the creditors bottom line, then the property will not sell and will go back to the creditor to do with it what they choose.

4. Purchasing an occupied foreclosure.

If the homeowner does not vacate the property after the foreclosure sale, you as the new owner, must give them a formal notice to move out. If they do not, you have the right to bring on an eviction lawsuit. If the person occupying the property is a tenant of the former owner, a different form of action must be taken. There are certain laws that actually protect these types of tenants. It all comes back to doing your research before you purchase so you know what you’re getting yourself into.

5. If you’re the one bidding, you’re the one buying.

There is an exception: By signing a Power of Attorney, you may appoint a representative to bid for you. Sometimes, auction companies may offer live remote bidding by telephone through an auction representative or has live Internet bidding capabilities. There are options if you are unable to attend an auction.

6. If the auction begins at 10, be there before 10., the first Tuesday of every month, at the county courthouse.

Auctions in Texas are the first Tuesday of every month, on the south side of the County Courthouse. The auction may only last 10 minutes total, so be timely, or you may miss the whole thing!

With that said, Texas law requires a three hour window from the time given on the auction notice and when the auction actually happens.

 

If Corpus Christi foreclosures are something that interest you, final words of advice would be: Save your money, do your research, and don’t be late! Happy bidding!

WHAT YOU SHOULD KNOW ABOUT HOME APPRAISALS!

homeappraisals

Appraisals are a key component to every real estate transaction, with the exception of an all-cash transaction. Whether it’s a property using a mortgage, refinancing an existing mortgage, or selling property, the appraisal matters. But how does the appraisal work and how is it determined? Whether you’re a buyer, owner or seller, the following are important points to understand.

 

Appraisal Definition

The act of judging the value of something by an unbiased professional.

Why Appraise?

Most often, an appraisal is ordered for use in a sales transaction. The appraised value is used to determine whether the property’s contract price is appropriate given its condition, size, location and special features. In a refinance situation, the appraisal serves as a guarantee to the lender that they won’t be loaning more than the property is worth.

Why Do Lenders Care?

For mortgage companies, the property serves as collateral if the borrower defaults on their loan. That is why it is important for lenders to ensure that homeowners are not over-borrowing for a property: If foreclosure occurs, the lender can likely recoup the money it lent by selling the home.

How Appraisal Values Are Determined

Because the appraisal primarily protects the lender, they are normally the ones to order the appraisal. It’s important to note that an appraisal must be made by a qualified and licensed appraiser; someone who has no direct or indirect interest in the transaction and who is familiar with the area.

Once the lender has ordered the appraisal with a recognized appraiser, they will not only visit the property and conduct a thorough visual inspection, but they’ll also compare recent sales of similar properties. Factors that may influence the value will be some of the home’s amenities, number of bedrooms and bathrooms, floor plan functionality and square footage. The appraiser may also note any conditions that adversely affect the property’s value and, if necessary, may request repairs to fulfill the loan.
The appraiser then provides a report with the appraisal value, which includes an analysis and conclusions about the property’s value based on his or her observations. The appraiser’s detailed report costs several hundred dollars, and typically, the buyer/borrower is responsible for paying this fee.

Knowledge For Buyers

If the appraisal comes in at or above the sales price on your contract, the transaction proceeds as planned. However, if the appraisal comes in low, it can derail the transaction. If the seller is willing to come down in price to the appraised value, you’re back on track. After all, you both have the same goal: Get the property to close! But if the seller will not come down, you may consider negotiating to meet somewhere in the middle, or even terminating the contract altogether. Because the lender will not loan over the appraised value, it keeps buyers from overpaying.

Knowledge For Sellers

If the appraisal comes in low, but is accurate, you will likely have to lower your property’s sale price to allow the transaction to move forward toward closing. As we already know, lenders won’t approve loans for more than a home is worth, and holding out for an all-cash buyer is a risky move and possibly improbable.
If you think that your property’s appraisal has been incorrectly valued or it has been dragged down by the sales prices of nearby foreclosures and short sales, you have options.  Depending on the type of loan, you may be given the opportunity to convince the appraiser that your home is worth more. If a low appraisal is standing in your way, consider getting a second opinion. Appraisers are only humans after all, and can and do sometimes make mistakes and/or have faulty or incomplete information.

Knowledge For Refinancing Homeowners

Your property needs to appraise at or above the amount you want to refinance for your loan to be approved if you have a conventional mortgage. On the contrary, if you have an FHA mortgage, you can refinance through the FHA Streamline program without an appraisal.

Crux

Even though the appraisal is just one of the dozens of moving parts that must get ticked off on the loan-closing checklist, it is a critical player. Know what it means for you in the role you play in the transaction. Don’t be afraid of the dreaded appraisal…Knowledge is power!

Schlitterbahn Corpus Christi to Fully Open Spring Break 2015!

schlitterblaster

CORPUS CHRISTI – It’s only partially opened, but Schlitterbahn Corpus Christi was a popular spot on Labor Day.

The Island resort is considered about one-third complete with construction ongoing daily. The park was open Monday with a newly operational Momentum River, but it didn’t see the crowd the owner had hoped for in its first Labor Day holiday.

“Attendance has been slow, although good,” said Schlitterbahn CEO Jeff Henry. “Because the park isn’t finished and because it doesn’t look finished and there aren’t as many attractions open as we’d like to have open, we’re pleased with the attendance that we’ve had.”

Henry said the Veranda restaurant is doing well and visitors are enjoying the parts of the park that are available.

“We’ve got about a little over a third of the park, about 3,500 person capacity, open and operating today. Got a river system open and operating, a hot tub open and operating, two childrens pools open and operating, a river ride open an operating,” said Henry.

The park was initially touted to open by summer 2014. While it did open, it wasn’t to the extent that people were expecting.

The question now is, when will Schlitterbahn Corpus Christi be completely ready?

“We will open March 1, 2015, with the park completely finished,” said Henry, “All 90 hotel rooms, all three restaurants, all the concessions, and all of the rides, and we’ll be ready to go next year at Spring Break.”

Click here for Schlitterbahn ticket information.

via KrisTV.com

The Dawn of Schlitterbahn Corpus Christi

2014-01-16 05.46.14

From sunrise to sunset, the new water park gracing the Upper Padre Island skyline is creating big waves with the Torrent Wave River and Boogie Bahn surfing on the horizon, two signature attractions that are in the works to be completed in the next couple of weeks.

But most importantly, what tempting enchantments await you NOW? Lil’ Skipper’s Cove Kiddie Pool and Bob’s Cabana Bay Swim-Up Bar along with concessions were ready for swimmers and drinkers alike on the soft opening June 21, 2014. Since then, Schlitterbahn has welcomed approximately 300 new members, and just last week the park opened up to the public for $10/person. Now members and the public alike can bask in Schlitterbahn glory from 10 am – 8 pm daily.

But this is nothin’ compared to what is to take shape over the coming months. What do we have to look forward to?

Colette Rye, Marketing Director, has briefed me on what’s to come over the coming weeks. The front part of the park will open next, which will include:

  • A tasty new restaurant, The Veranda Restaurant and Bar, which will be a full service Seafood and Mexican restaurant in the clubhouse
  • A retail space for souvenirs, also in the clubhouse
  • A river system
  • Kids play area
  • Two volleyball courts
  • Another swim-up bar
  • A wavepool
  • Amphitheater (no concerts yet planned)

Slightly further in the future, Schlitterbahn will see:

  • Master Blaster Rollercoaster
  • A fine dining private restaurant (yet to be named) tentatively located on the 4th floor of the clubhouse (open to members only)
  • A barge called the “Jubilee,” which is a casino boat brought from Louisiana (not to operate here as casino boat), will be equipped with hotel rooms (likely won’t open until next season)

Think you want to be a part of this booming park? Caitlin Grant, Operations Dispatch, says you’re in luck…they’re hiring! Tuesday, July 22 and Wednesday July 23 from 1 pm – 6 pm, the park is hosting a job fair to hire staff for The Veranda Restaurant and Bar. Come to the front of the main building, bring 2 forms of ID, and apply online to save you time. Be prepared for on-site interviews and even on the spot hiring!! Don’t have a food handler’s permit? Don’t worry about it! They will have an onsite course for that.

For additional job opportunities, visit: http://schlitterbahn.com/corpus-christi/jobs

Stay tuned for more information as it becomes available. And don’t miss out on the suntan and family fun to be had while the summer (and your inner child) is still young!

 

Palmilla Beach Resort and Golf Club

Welcome to the “New Coast, Now!”

mT=f(P2 + t + s + a)

But what does this mean?

Motivated team = function (Passionate People + training + strategy + accountability)

This is Legacy International Resort Properties’ winning formula for their brand new resort, Palmilla Beach Resort and Golf Club.

Designed by award-winning developers Bart Koonz and Red McCombs, this community has it all…Beach. Bay. Golf.

Philip Jelufka, President and CEO of Legacy International, outlined the resort’s 5 Key Differentiators at a discussion hosted by San Jacinto Title Company on May 14, 2014 at the Comfort Suites on Upper Padre Island. They are:

  1. World-class golf course
  2. Expertise in financing and world-class management and developing
  3. Beach. Bay. Golf.
  4. Product offering – homes, condos, hotel, etc.
  5. Being a part of New Coast. Now.

This 700-acre resort is designed to be pedestrian friendly, with a grand opening date of August 2, 2014.

June 10, 2014 Coastline Properties toured the site. Tiffany Pritchard, Sales Executive, has shared her unmatched knowledge of the resort and outlined each detail, big and small!

This walkable community is made up of Village North, Village South, and the Marina (refer to photo below). The Marina, northwest of Village North (Map1, in orange) will house 150 uncovered boat slips on the bay side. Adjacent to the marina is the intercoastal waterway and close proximity to the airport.

Map 1 Palmilla Beach Resort and Golf Club

Across 361 then is Village North. The green plots (Map 2 Picture Below, Village North) you see are home sites – there are a limited number available. These range in price from $195,000 – $815,000. There are currently 4 preferred builders, but yes, you can bring in your own. By the end of summer, 8 homes will have broken ground. Once you purchase a home site, you have 2 years before you are required to start construction.

Map 2 – Palmilla Beach Resort and Golf Club

Three of the 4 builders are:

  1. Keystone Company – 3 bed/4 bath, 2,826 sq. ft.
  2. Conner Coastal Homes – 4 bed/4.5 bath, 2,504 sq. ft.
  3. T. Kypke Builder Inc. – 4 bed/4.5 bath, 2,840 sq. ft.
  4. Buckwild Builders – 4 bed/4 bath, 2,942 sq. ft.

The vertical village concept will keep the resort pedestrian friendly and architecturally consistent. Each home must have a minimum of 2 stories, but some home sites allow for a 3.5 story maximum. Homes that dead-end will have towers atop them to further enhance village feel and ‘curb’ appeal.

Want to use your home as an investment opportunity? No problem – there is on-site management for homes in the rental pool.

The yellow blocks you see (Map 2) are for future development, but “yet to be determined” regarding what kind. The resort take its cues from the market to identify what it wants. More homes? More condos? Do you have a good idea? Feel free to write in and give us your own input!

Then you’ll see the grey area (Map 2), where Seagate Condominiums will go. Set to be finished in 2015, the condo is “breaking ground” in June (wait, that’s now!!), and will be going vertical in the next several months. These units are also available for sale, and will be located near the entrance of the village once you pass the Welcome Center. The L shaped condominium will be 4 floors high, totally 9 different floor plans to choose from. There will be 18 condos in total, ranging between $365,000 to $985,000.

Floor One:

  • Juniper Floor Plan – 3 bed/2 bath, 1,524 sq. ft., patio 143 sq. ft.
  • Jasmine Floor Plan – 2 bed/2 bath, 1,372 sq. ft., patio 168 sq. ft.
  • Lantana Floor Plan – 1 bed/2 bath, 1,040 sq. ft., patio 179 sq. ft.

Floor Two:

  • Mesquite Floor Plan – 3 bed/2 bath, 1,646 sq. ft., balcony 180 sq. ft.
  • Mulberry Floor Plan – 2 bed/2 bath, 1,357 sq. ft., balcony 180 sq. ft.
  • Myrtle Floor Plan – 2 bed/2 bath, 1,407 sq. ft., balcony 256 sq. ft.

Floor Three:

  • Palmetto Floor Plan – 3 bed/4 bath, 2,817 sq. ft., balcony 344 sq. ft.
  • Retama Floor Plan – 2 bed/3 bath, 1,971 sq. ft., balcony 189 sq. ft.

Floor Four:

  • Wisteria Floor Plan – two stories, 3 bed/4 bath, 2,271 sq. ft., 3rd floor balcony 545 sq. ft, 4th floor balcony 143 sq. ft.

* The third and fourth floor(s) have 6, 2 story units.

But what about fees?

Home sites

  • $3000 per year Homeowners Association (HOA) fees

Seagate Condos

  • 36 cents per square foot on master HOA fees
  • $1200 per year for pool and amenities fees

So now that we know about the ‘designer’ living here, what does the resort offer in terms of amenities and entertainment?

  • Golf: This 222 acre, 18 hole “gold” course is (as of August, 2013) managed by internationally renowned Troon Golf, and designed by Award-Winning Arnold Palmer Signature Courses. The grass on the tees and fairways are Seashore Paspalum. A fine choice due to its tolerance to heat, salt water, and dense root system(s), which provide desirable turf-like characteristics and is the same grass used on the Augusta course. Although this will still remain a public course, resort owners will be privy to some perks (perks program is currently in the works). The clubhouse has a new restaurant named the Black Marlin, which boasts sophisticated, yet fun and fresh coastal dishes. The outdoor seating is set up with hanging lights, a stage, and even a bar 3 stories up overlooking the gulf.
  • Grand Lawn: Next to the clubhouse and Black Marlin, there will be a grand lawn, which can be used to host events.
  • Hotel: This will likely be a Hyatt boutique hotel, meant to provide luxury to those coming to spend a relaxing weekend away, likely with a spa and a pool. But it will also have a conference room and both casual and fine dining. Soon to be an overnight golf destination sensation, they’re expecting an influx of golfers to come and stay a night or two. A hotel on the premises is the convenience they’ll seek.
  • Pool: A brand new pool, bar, and amenities center (located near the home sites and Seagate Condos) is set to open this summer, equipped with loungers, umbrellas, and cabana boys serving chilled grapes. OK, I made that last part up, but there WILL be cabanas.
  • Beach: It’s right there!! Perfect for fun in the sun, waves, shelling, and birding. Private beach access with dune crossover will be built to provide private beach access.

Although the developers currently have their hands full concentrating mainly on developing Village North, Village South and the Marina may not be far behind – it will be exciting to see it all unfold.

Arnold Palmer himself quotes this project as an “enthusiasm I haven’t felt in a while.” That’s good enough for me!

Please don’t hesitate to contact me at 847-830-2087 or whitney@coastline-properties.com for additional information. The Palmilla Beach Resort Welcome Center can also answer your questions at 361-749-3628. Or simply visit palmillabeach.com and click around!

Great “New” Listing Below

We're sorry, but we couldn't find MLS # 225309 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

New Plans being Laid for Lake Padre Area

What do Bricktown, Oklahoma City and North Padre Island, Corpus Christi have in common? A water taxi system! Or at least, soon to be.

With Schlitterbahn, Harbor Marina, and Island Walk Village coming in phases to Padre Island, this picturesque canal system linking the island’s main attractions will bring new tourism and new life into the Island. Paul Schexnailder, a partner in the project, highlighted some of the main and most exciting aspects today at the State of the Islands talk, held at the Comfort Suites by San Jacinto Title Services.

CLICK ON PICTURE BELOW TO BLOW UP AND DOWNLOAD OR PRINT A COPY

Schlitterbahn, still set for a soft opening at the end of May, is part of Phase I. Although rain and labor has hurt the construction schedule, Jeff Henry, co-owner, has said this is the best park he has ever built. And we’re OK with that…good things come to those who wait! Here’s why!

The main clubhouse boosts four stories of fun.

  • 1st Floor: “Fajitas” restaurant and retail space
  • 2nd Floor: The floor for the locals – will have TVs, a lounge, a game room, and food and drinks
  • 3rd Floor: A 4500 square foot event center, equipped with 6 meeting rooms
  • 4th Floor: Fine dining open to the public, as well as  a private dining room for golf course and park members only
  • There will also be roughly 80 hotel rooms in the building 

To top it off? The clubhouse overlooks an Amphitheater that can hold approximately 2000 people. This was not in the original plans, but it sounds like the perfect place for some great island venues. You got fins to the left, fins to the right… 

Harbor Marina, set to be operating this time next year, will be instrumental in the “Water Taxi” System. Referring to the maps provided, Cruiser canal is being expanded to continue straight and curve to go toward the marina. See the arrows on the maps? That is where a new bridge is going to go (between Commodores and Whitecap). It will orchestrate boat and pedestrian traffic by 3 separate arches. The center arch will be for the boats, and the two arches on either side will be for pedestrians and golf carts. The canal archway will have a 13 foot clearance, whereas the two pedestrian archways will have a 10 foot clearance. The canals will be finished late 2015, early 2016, and the bridge has an end-of-the-year completion date. 

Island Walk Village is an Ingredient in Phase II. And yes, I am talking restaurants. It will be the site of at least 6 restaurants all up and down the newly dug canal system (will there be gondola rides in our future?). The structures will house the eateries on the main levels by the water, and then living spaces above that. Worried about parking? Don’t. The village has been drawn to have about 1400 parking spots.

..And even though gossip of a grocery store is spinning, those in “the know” are being understandably coy about the details. The good news is, there WILL be one!

This hardly touches the exciting developments the island will see over the next 5-10 years. The good news is that we have a built-in market here on our coast, and something tells me it won’t be “off the grid” much longer.

WIN a KINDLE FIRE HD Goodie Basket!

REMINDER CONTEST DRAWING EXTENDED UNTIL MAY 31st at 8:00pm

TO CELEBRATE SPRING, We are GIVING Away a Spring Goodie Basket including a KINDLE FIRE HD!

DUE TO POPULAR REQUEST, The Contest has been extended to MAY 31st at 8:00pm.  In order to enter the CONTEST, text the word “basket” to 71441 (yes, only 5 digits, look at the picture below) and you will be entered to win.

You May Also ENTER YOUR MOBILE NUMBER Below to be Opted into the TEXT TO WIN Contest!  Once you are opted in you will get a message asking you to reply with “yes” to confirm your entry into the contest.  Also, feel free to download our FREE MOBILE Application for your smartphone so you can be searching the Real Estate market locally in Real Time.  Go here http://bit.ly/smarterMLS

**Contest RULES: Must be 21 years or older to win. Must be able to come to our office to receive your prize, we will not ship this item. 1 entry per mobile number. Contest will end on May 31st at 8:00pm promptly. You will be notified by text if you win or lose. Best of luck to all of you!

WINDSTORM INSURANCE: WILL ISLANDERS END UP PAYING EVEN MORE?

It’s no secret that it costs a lot to live on the coast, especially once you add up your taxes, homeowner’s insurance, flood insurance, windstorm insurance, etc. But it could get worse. The Texas Department of Insurance (TDI) may be adding surcharges to existing rate policies that could greatly increase insurance costs for our Coastal Bend residents in these 14 coastal counties: Aransas, Brazoria, Calhoun, Cameron, Chambers, Galveston, Jefferson,
Kenedy, Kleberg, Matagorda, Nueces, Refugio, San Patricio, and Willacy.

Perhaps it’s because we haven’t had a catastrophic event since Hurricane Celia in 1970, but in the event of hurricane damage that exceeds the amount the Texas Windstorm Insurance Association (TWIA) can pay, all of the below policy holders will be assessed a yet unspecified amount of money.

  • Auto policy
  • Motorcycle policy
  • Recreational vehicle policy
  • Boat policy
  • Homeowners policy
  • Windstorm policy
  • Renter’s insurance policy
  • Commercial building policy
  • Fire and allied lines
  • Farm and Ranch owners

 

What really stings here is this: when hail or tornadoes pummel other parts of Texas,funding from our coastal counties goes toward aid. But what about if our coast gets hit with a hurricane? It’s on us and us alone to pay for the damages. This is making many of our residents scratch their heads.

On March 5, over 400 residents came to a public hearing the city held at Texas A&M for our residents to voice their opposition to the proposed “tax,” as Representative Todd Hunter referred to it. Below are some of the arguments made during the hearing:

State Senator Juan “Chuy” Hinojosa commented on the misconception that all coastal residents are rich. In reality, we’re just like the rest of working America, where many of us can’t afford to pay much more. 

State Representative Todd Hunter expanded upon this idea, calling the surcharge a discrimination on the minority population of the 14 coastal counties. He pointed out that the TWIA website specifically states that they do not discriminate against geographical locations, which is exactly what this surcharge s. Before any surcharge law is passed, Representative Hunter suggests doing an economic analysis on the minority groups affected.  

Mayor Nelda Martinez explained this surcharge would have a burdensome affect on the momentum of our community, and that an increase in insurance over the past 14 years will economically sink these 14 counties. She wrapped it up by saying “Mother nature doesn’t discriminate…”  

JJ Johnson with TPCO American noted that with all the new big plants coming to Corpus (TPCO, Cheniere Energy, M&G Chemicals, Schlitterbahn…) there will be thousands of workers, too. We need to ensure that our new laborers on blue-collar salaries can afford to live here.

This surcharge could add up to hundreds, maybe even thousands of dollars extra per person per year. At the Corpus Christi Association of Realtors luncheon at the Corpus Christi Town Club on March 13, Representative Hunter explained that they will probably pass the rule, but they may be hesitant to enforce it. He promises to “fight them forever.”

The general consensus seems to be that our coastal residents should not pay these surcharges. Or, at the very least, spread the cost evenly across the state. As it turns out, there’s been a conclusion since 2009, but only now will this law be put into effect. After Hurricane Ike hit, the Insurance Council of Texas approved these surcharges,
given any subsequent hurricane damage exceeding $1 billion dollars. Here’s to testing our luck!

M&G Chemicals Plant Update: Corpus Christi Site

On Thursday, February 13th, at the Padre Island Business Association lunch, Jeff Shea, Site Manager for M&G Chemicals, spoke to update us on the M&G Chemicals PET/PTA Facility.

The privately owned company has locations all throughout the world, but this site here on Port Corpus Christi, Inner Harbor (across from Flint Hills Resources) will be the largest plant yet.

WHAT WILL THE PLANT PRODUCE?

The plant produces polyethylene terephthalate (PET for short), which is a safe and easily recyclable plastic polymer used mainly for containers of all sorts due to its superior water and moisture barrier quality. It will also produce the PET key raw material, purified terephthalic acid (PTA). Production is estimated at 1200 KMT/yr (kilometric tons per year) of PTA and 1000 KMT/yr of PET. This process is FDA approved, and a $1 billion investment.

CO-GENERATION PLANT

This means the plant intends to produce its own electricity. They will do this by using natural gas combustion for electricity, steam and heat. This is efficiency by using “waste.” Water usage is also at the forefront of the plant, as its projected to use approximately 6 million gallons per day. So M&G plans to generate their own water so Corpus Christi doesn’t suffer from drought due to the plant. They will bring in water from the Gulf, pull out the salt, and then put the brine back into the ocean. The technology used here is called “reverse osmosis membrane.”

WHY CORPUS CHRISTI?

According to Shea, “you guys got it all!” (which we already knew J). Corpus is located on the Gulf, it has easy access to three railroads, there are six refineries around, deep-water access, and there is Port access to the Bay and Viola Channel.

BENEFITS TO CORPUS CHRISTI?

This is thought to be an international investment to the area in that it holds the possibility of attracting upsteam and downstream industries as a result of the M&G investment, as this is a company with a proven track record of renewable resources. Not to mention, it will generate many jobs.

LET’S TALK JOBS AND TIMELINE

Jobs:

  • 250 direct full-time employees
  • 700 indirect employees
  • 3,000 construction workers at its peak (5 million man hours!)

Timeline:

  • Summer 2014 – Federal Air Permit received
  • 2nd Quarter of 2014 – Construction begins
  • 4th Quarter of 2015 – Construction completed
  • 1st Quarter of 2016 – Plant commissioned and operational

MAYOR NELDA MARTINEZ: STATE OF THE CITY

“Bold and Balanced Growth” is how Mayor Martinez described our Emerald City by the Bay, Corpus Christi – and she isn’t kidding. On the afternoon of February 6, 2014, at the American Bank Center, she touched on two major statistics that will hopefully make a big impact in the Real Estate realm this coming year.

Corpus Christi is one of the fastest growing metro economies in the United States coming in at No. 10 with a 3.8% increase in 2013 and a projected 3.1% increase for 2014. This is also due to a 4.3% rise in jobs. More people coming to Corpus = more buyers in the real estate market! Finally, the scale is tipping.

Mayor Martinez also pointed out that since 2010, there has been a housing rise of 19%. There has been a sizeable increase in new construction in Corpus, creating roughly 3,800 new jobs in 2013. Why would there be this kind of boom in new construction you ask? Because we want to be prepared for the economic growth that is expected. From 2012 to 2013, there was a 32% increase in new residential permits alone.

With that though, there has been a shortage of affordable housing. The city is attempting to change this by building some low-income housing, such as The Palms at Leopard, to accommodate 120 apartments, which broke ground Nov. 14, 2013, on Leopard Street. The goal is to offer a healthy mix of housing options throughout Corpus Christi, and to continue with neighborhood cleanups.

As for the Island, Schlitterbahn is projected to bring mass amounts of people to the park, increasing the growth and relevance of the island. Property values are expected to increase due to this exposure, and there will certainly be many more people looking to buy and rent around the island.

Onward and upward, Corpus Christi!

Drones: The Next Big Thing in Real Estate Photography?

Move over Google Earth. The Drone may soon be invading the aerial photography kingdom. These drones don’t listen to private conversations, nor are they combative, but they can be a highly useful tool for Real Estate Agents!

Traditionally, aerial photos for Real Estate were taken by photographers in privately hired helicopters, and even more recently, Google Earth.

But a new twist may be coming onto the scene – remote operated Drones equipped with cameras. The operator is able to direct the drone around and above any piece of desired real estate.

If you haven’t already droned me out (pun intended), consider how an aerial view can be a worthy exposure. As a seller, you are able to showcase the property in its entirety, along with its surrounding areas. Favorable differences from your standard point-and-shoot camera might more effectively show yard size vs. house size, the leveling of the land, angles, quality of roofing, etc – These features may be hard to visualize unless seen from a bird’s eye view.

A house on the water is said to be valued around 3 times that of an inland home. The use of a drone that would show proximity to water, would be valuable.

But don’t go placing your orders just yet. In an effort to protect the surveillance of private properties, Texas law passed Sept. 1 states that using drones for real estate photography is illegal and punishable by a fine. It might be three years before the savvy camera-carrying unmanned aircraft can capture your property of choice.

Loophole? House Bill 912 Senate Version (1E) states that “Code include a person who: (8) with the consent of the individual captured in the image and the individual who owns or lawfully occupies the real estate property captured in the image.”

Here’s to hoping we’re at least many decades away from robots selling the properties, too!

 

Cheniere Energy, Corpus Christi Liquefaction Project Update!

Chenier Energy coming to Corpus Christi

This past Thursday, Jan. 9, at the Padre Island Business Association lunch, we had the pleasure of listening to guest speaker Jason French update us on the latest Cheniere liquefaction plant. To be located just northeast of Corpus Christi on La Quinta Channel of Corpus Christi Bay.  French, Director of Government and Public Affairs for Cheniere Energy, described this as a time of “energy revolution” due to the “rise in manufacturing because of mass supply of oil and gas in Texas.” The plant, which should take roughly 5 years to complete, will start construction this time next year for an estimated completion year of 2018.

In a nutshell, liquefaction is the process of super cooling liquid natural gas to make it safer for long distance transportation.

Click here to read all about the liquefaction process and what this plant will do:
http://www.cheniere.com/corpus_christi/corpus_project.shtml

Benefits to the public?

This $10.5 billion dollar project will bring in jobs for approximately 300-400 people per day
during construction as well as permanent employees once completed. French also estimated
about 50,000 permanent indirect exploration and production jobs, a $5.2 billion dollar secondary
economic impact to the greater Corpus Christi region, and a $7 billion dollar reduction in trade
deficit.

2013 was Good……2014 should be even Better!

Austin Business Journal:  Corpus Christi blows Austin away in construction job growth!

Best Performing Cities Index by the Milken Institute:

Corpus Christi ranks 17th best performing Large City in America.

Corpus Christi is the 5th fastest metro employment growth in the Nation.

Global Insight for the US Metro Economies report: Based upon Gross Metropolitan Product, Corpus Christi ranks 10th!

Projects breaking ground this year:

Cheniere Energy – $12B LNG plant

Voestalpine – $700 million processing plan (largest Austrian project in the US)

M&G Resins – $900 million PTA/PET plant(the largest such facility in the world)

Occidental Petroleum announced a joint venture with Mexichem to build a $1.5B project in Ingleside.

Corpus is becoming a ‘global’ community.  TPCO (Chinese), Voestalpine (Austrian), M&G Resins (Italian), Trafigura (Swiss), Mexichem (Mexican) are sending people to Corpus regularly to do business ‘right here!’

Tourism:  Spring/Summer Schlitterbahn Country Beach Water Resort opening  their park/resort on North Padre Island’s – first phase.

New Home Starts:  Up 60% over the last two years.  Homes sales are up, prices are up and major construction are up!

So, come on 2014…….we’re ready for you!!!

Come Coast Awhile………with us!

Schlitterbahn Corpus Christi – 7 months from Opening!

KiiiTV3.com South Texas, Corpus Christi, Coastal Bend
Seven months. If all goes as planned, that’s how long it will be until the new Schlitterbahn Beach County Water Park and Resort on Padre Island is up and running.

If you have been watching the construction process, you know that things are now at the point of dramatic change.

“We’re really seeing some big changes now,” said Jeff Henry, co-owner of Schlitterbahn. “Really seeing this start coming out of the ground.”

From the beginning, there were plenty of people who were convinced the project was never going to happen; but now, 65 acres of what used to be the Padre Isles Country Club have been transformed.

“We’re running four-inch fire protection to the buildings that are going to be sprinkled, and we’re running two-inch fill lines that we’ll use to fill the rivers and fill the rides,” Henry said.

Jeff Henry is the creative genius behind all Schlitterbahn parks, and to say that he’s a free spirit doesn’t fully describe his reputation for thinking outside the box. He actually owns more than 60 patents for thrill rides that he has built all around the world.

“He’s always creating. He’s got a vision, and he tries to make the architects understand what his vision is,” said Sonia Gill, Henry’s assistant.

“This is fun. This is like artwork. It’s enjoyable,” Henry said. “I do get tired of corporate — that would be my brother and my sister, and all the people in New Braunfels who are trying to get me to comply with the rules and regulations of society, which I prefer not to.”

“He’s a wild and crazy guy, but he gets the job done,” Schlitterbahn Senior Designer John Schooley said. “He’s creative, and he really makes things happen.”

“These are treehouses that we’ve added,” Henry said. “Here, we’re doing something very unique.”

Henry was talking about the company’s unique upscale lodging for guests who want to extend their stay. The treehouses, as they’re called, are being constructed using wood left behind from the devastating fire in Bastrop, Texas, back in 2011. Ultimately, there will be a couple of hundred tree houses on the site.

Like the Schlitterbahn parks on South Padre Island and Galveston, the one in North Padre Island can stay open year round, but “this one is going to blow those other two away,” Henry said.

As of right now, construction workers — about 150 of them on any given day — are finishing up the in-ground infrastructure, working on foundations for the various slides and rivers, and adding a second floor to what will be a completely refurbished clubhouse.

As for the actual water slides and attractions, many are being built right now in the company’s fabrication plant in New Braunfels. Colorful butterflies and mushrooms, an elaborate locomotive, and a cool pirate ship — the C.C. Christi — all of it will be headed to Padre Island soon.

Also on the way are devices called Archimedes Screws. They work on a 2000-year old principle named after the Greek inventor who first used them. They will help propel the massive amount of water in the park’s moving rivers.

In New Braunfels, experts from around the country are collaborating online. They can actually stay in constant communication with project managers on the ground in Corpus Christi.

John Schooley, the company’s senior designer, is particularly proud of the park’s signature attraction. They call it “Shoot the Chute,” a unique adaptation of a classic waterpark ride that takes riders up a steep incline and then drops them into a large pool.

Local businessman Stan Hulse is the park’s general manager. He said he can’t wait until people can start splashing around in it. That’s still set to happen in June of next year.

Eventually, as 3News has reported, the $41 million water park will be the central component of a $550 million resort community on the Island. It will have more restaurants, shops and hotels. Plans also call for a riverwalk and new residential areas.

According to our sources, a major announcement about that is coming soon, and 3News promises to keep you posted. via KIITV.com

Waterparks, Power of Persuasion in the Numbers!!

High unemployment, crunched budgets and lower tax revenues have put financial stress on many locales. Those pressures can make a new waterpark very appealing.

Forget the fancy slides. While a new waterpark will need to wow visitors with all the latest technology once it opens, that day may never come unless local officials believe that the proposed park will bring jobs. “Three, four years ago, I don’t believe we had to emphasize the jobs piece so much,” says Craig Wilkinson, principal owner of Wisconsin Resort Consulting in Madison, Wis. “Ultimately, everybody wants jobs right now.”

With the national unemployment rate still higher than most economists would like at 7.7 percent in February 2013, many localities are hungry for new jobs. State budget crunches and depressed property tax revenues also have put financial stress on many cities and counties.

Those pressures can make a new waterpark an appealing prospect. “When you come in with an $18 million to $20 million payroll, 1,200 jobs and a tax base that solves their tax problems, most welcome you with open arms,” says Todd Nelson, owner and president of Kalahari Resorts in Wisconsin Dells, Wis., which has begun planning a new $350 million waterpark resort in Pennsylvania’s Pocono Mountains.

Such enthusiasm is critical for waterpark developers, who say public support is a crucial part of financing a new project.

“The most important thing to us is how we’re going to be received by the community and whether it will be an uphill battle,” says Jeff Henry, CEO of Schlitterbahn Waterparks and Resorts in New Braunfels, Texas. “We go to places where we are needed and wanted.”

However, even with a promising location and excited community, the development and financing of a large scale waterpark can still be a herculean undertaking.

Economic engine

A waterpark proposal offers the promise of serious tax dollars as well as a mix of temporary, seasonal and permanent jobs.

“It’s a large economic package,” says Wilkinson. “There are property taxes, hotel taxes, park taxes and retail taxes.”

The numbers illustrate why. In Wisconsin Dells, which has the highest concentration of waterparks in the country, the industry has helped build what is now a tax base of $1.1 billion for a city of only 2,700 residents.

That sounds mighty appealing to a place like Garden Grove, Calif., where local officials currently serve 175,000 residents on a tax base of just $42 million and can’t wait until Great Wolf opens its long planned 600-room waterpark hotel in the city. The Southern California city, located in the shadow of Anaheim’s Disneyland, spent years pursuing an attraction of its own and finally landed a Great Wolf Lodge in 2010.

“It’s a means to a better, more attractive and more financially solid community,” Garden Grove City Manager Matthew Fertal said of the waterpark when the project was announced. “It’s the shot in the arm every city wishes it had, especially in these economic times.”

Three years later, Fertal remains just as committed to the project, which promises to bring 600 jobs and $8.5 million in annual tax revenue to Garden Grove.

“It will be a huge economic engine for the city,” he says. “Right now, 12 hotels generate $12 million in hotel tax for us. This one [Great Wolf] hotel will generate $8.5 million.”

As the project’s size and scope increases, so does its potential economic impact. In the Poconos, the $350 million Kalahari project is estimated to create 1,200 construction jobs, 700 full- and part-time jobs at the resort and bring more than $18 million in tourism dollars to the surrounding area.

Public decisions

Depending on the project and locality, public officials have a number of tools to encourage a waterpark firm to develop a facility in their area.

“Waterpark developments have received a variety of economic incentives, including tax abatements, room tax rebates for waterpark resorts, infrastructure funds, income tax rebates, and assistance in acquiring land,” says David Sangree, president of consulting firm Hotel & Leisure Advisors in Cleveland, who does feasibility and economic impact studies for the waterpark industry. “It’s all about the metrics of the deal,” explains Henry. “If a project has great metrics, existing infrastructure, and is in a well developed area, then a city doesn’t need to offer as much.”

Garden Grove, for example, offered Great Wolf a $62 million package to locate its lodge there, agreeing to provide the company with $15 million worth of land, $5 million in cash, and $42 million in redevelopment bonds.

“Outside of hotel attendance and visitation, it’s been a flat economy for us,” Fertal says. “Thank goodness the hotels are performing well, otherwise we’d really be in bad shape. That’s why we’re willing to do this.”

Not everyone can.

“Several municipalities would like to do these [waterpark deals], but financially, they are so burdened, they can’t make it happen,” says Wilkinson, who evaluates deals for clients.

In the Poconos, Kalahari is hoping to tap into tax increment financing (TIF) for the project, which would help pay for infrastructure improvements such as utility lines and road improvements. While the details of tax increment financing can vary from locality to locality and state to state, Kalahari has used these tools before.

In Sandusky, Ohio, Kalahari relied on a TIF to pay for more than $7 million in infrastructure improvements for its resort there, according to the company. And in Corpus Christi, Texas, Schlitterbahn Waterparks and Resorts recently broke ground for a new $41 million waterpark that will be just one part of a larger $552 million mixed-use development that will take 18 years to build and produce $259 million in revenue.

Those are some big numbers, and the city’s contribution is no different; in exchange for the massive project, Corpus Christi agreed to provide $117 million in incentives, much of it in funds to promote tourism, for Schlitterbahn and its partners.

“As we looked at the economic impact, this was a good return,” says Foster Edwards, president of the Corpus Christi Chamber of Commerce. “Our economy is excellent, and we are not desperate by any means, but why turn down a good opportunity? It’s that simple.”

Officials at Garden Grove felt similarly about Great Wolf, whose project is expected to generate enough tax revenue to cover the cost of the $62 million economic development package within the city’s desired time frame of seven to 10 years.

“As long as the payback fits within that threshold, we feel that’s a reasonable return,” Fertal says.

Doing the deal

Why do public incentives matter so much in the private waterpark industry, which is a tourism sector that everyone says is growing? The answer is financing.

“The lending situation has never been easy,” Schlitterbahn’s Henry says. “I’ve always found it to be hard because waterparks are not considered mainstream financeable products, so you have to go to alternative label financing, which asks you to promise not only your firstborn, but also your second, third, and fourth child as well.”

But industry consultants say the lending situation has become especially challenging of late, with even major hospitality brands such as Marriott turning to alternative sources of construction financing for new projects.

Banks, so eager to lend during the economic boom, today seem leery of anything but the safest deals, and waterparks often combine the risks of real estate, hotel, and amusement park projects. As a result, a single lender may not be able or willing to provide all the debt that a waterpark company may need for a project.

“With the new rules in banking, projects can only go so large without getting many banks involved,” says Wilkinson. “Tax breaks that a project can take and monetize in some way are the best for a project. From my experience, most lenders are not going above 60 percent lending on projects. This means a project owner has to have 40 percent of the project in the deal. If this can be reduced by taking land off the costs or [using] state bonds, then that makes a project much more fundable.”

Public dollars can also make a waterpark more profitable, which also appeals to investors and lenders.

“We’re severely at risk on these projects, so everything we get makes it easier for us to get it built,” Henry says.

Of course, economic incentive packages have their own challenges. If a site or location is a bad bet for a waterpark due to demographics or other factors, public money probably won’t be enough to persuade a firm to take the risk.

“For us, the most important thing is that the project has got to make sense and be viable without incentives. No matter what incentives are offered, the plan and the project are the most important factors,” says Tim Black, COO of Great Wolf, which currently operates 10 waterpark resorts in the United States and one in Canada. Depending on how the incentives are structured, public money can also be slow, arriving only after a project has met certain targets or started generating tax revenue.

“You’re already so far into the deal [by the time the public dollars show up] that if the public financing falls through, you better be able to finish it,” Henry says.

It can also disappear, jeopardizing the project. That’s what happened in Garden Grove last fall, when Gov. Jerry Brown eliminated the state’s redevelopment agencies and put the city’s economic package to Great Wolf on uncertain ground.

“The waterpark hotel is one of the surviving projects that will keep our city financially afloat,” Fertal said at the time. “I can’t be more serious when I say that without it, our revenues may find themselves in rough waters.”

After a lengthy review process, the state in February agreed with Garden Grove that it was legally obligated to honor the agreement with Great Wolf. That put the project back on track and allowed Great Wolf to start pursuing its own financing.

Such deals also can be controversial, angering residents who think hiring teachers or firefighters is a better use of that money than helping a private waterpark, even if the funds are only available for economic redevelopment.

Clearly, tax breaks come with strings of their own, and smart waterpark executives acknowledge that.

“It’s not free money,” says Henry. “We know they’re giving us help to build a facility, and we owe that back to the people who we are serving.”

via Aquatics

We are extremely blessed to have the opportunity for Schlitterbahn Waterpark coming to our island, in the past few months we have seen great progress and look forward to the opening in Spring 2014. ~Cheri Sperling

Showdown With the Shutdown: Tales of How the Government Closures are Affecting Real Estate

The effects of the government shutdown are rippling through the real estate industry, and practitioners are feeling the pain all over the country. Most of the complaints we’re fielding are about USDA loans, which have been entirely frozen. Real estate pros are seeing deals fall apart, as the Department of Agriculture has shuttered its mortgage division during the shutdown.

But agents and brokers whose clients hold every type of loan are getting slammed. Though the FHA is still operational, it has drastically reduced its staff, causing widespread delays in the processing of FHA loans. And while the IRS is down, it can’t verify tax documents tied to conventional, FHA, or any other loans. That translates to many real estate deals being put on hold — or just disintegrating.

It’s becoming a madhouse out there for many practitioners fighting to keep deals alive as the shutdown puts a stranglehold on the market. We’ve gotten a few of their stories.

David Harman Jr., ABR, CRS, GRI
Associate broker, Century 21 Harman
Orem, Utah

Everything that was once in the former townhouse of Harman’s clients is now in Harman’s garage: furniture, memorabilia, even a refrigerator full of food. His clients were about to get approval for a USDA loan at the end of September, and they had long picked out the home of their dreams. Then the shutdown happened, the loan was stopped dead in its tracks, and Harman’s clients — a married couple with two kids of their own and three foster children — had nowhere to go. They had already told their landlord that they would be gone at the start of October, and another tenant was already moving in.

“They’re first-time home buyers. The only way they could afford a home was through the USDA program,” Harman says. “It’s just so sad because these guys were so close to getting their first home, and they were so excited.”

The Friday before the shutdown went into effect, Harman received word that the USDA needed just one final question answered before approving the loan. The next Monday, it all fell apart.

Harman offered his garage as a place to store his clients’ belongings while they were forced to move in with a relative. Even then, their family was split up.

“I guess the foster kids are back with the state,” Harman says, adding that there’s no way they would have been allowed to stay with them in their current living situation.

To make matters worse, the sellers of the home Harman’s clients were going to purchase is now threatening to sink the deal. At first, they were only allowing a one-week closing extension when they found out the buyers’ loan was backed up because of the shutdown, Harman says. Now, the sellers say they’re not even sure they want to sell anymore. Harman says he continues to try to negotiate an extension, but “we don’t know how long an extension to ask for. Is it a day? Is it a month? We don’t know.

“I try to call every day and talk to [my clients],” Harman says. “That’s all I can do is talk to them and reassure them that I’m doing everything I can. … I don’t even know if they’re going to want to buy a house anymore. It’s been such a nightmare.”

Marsha Byrum
Salesperson, Coldwell Banker College Real Estate
Oxford, Ohio

“My clients were at the tail end of a USDA loan,” Byrum says. “They still have hope that the government will resume and they will close on their USDA loan.”

But drastic times call for drastic measures, so Byrum’s clients are starting all over again, applying for another loan as a backup plan. The clients, she says, are applying for a conventional loan this time, in hopes that it will be easier — and faster — to get while the government shutdown continues with no resolution in sight. But it’ll come with a big price.

“The conventional financing will end up costing them more each month, and now they have to use their savings for a down payment,” Byrum says. They were originally planning to use their savings to buy furniture, she adds.

“Not only that, but if they were going to go regular financing rather than USDA, there were other homes in other areas that could have been an option,” Byrum continues. “But they wanted to take advantage of the wonderful government-offered USDA financing.”

All of this has left a bad taste in Byrum’s mouth: “The government is like a common crook that pulls an unsuspecting person in with no remorse of not following through on its promise.”

Lori Young, SFR
Broker-president, Young Realty Group, Inc.
Naples, Fla.

Young’s frazzled. She represents sellers in several deals that are saddled on the sidelines because the IRS is unable to verify buyers’ tax return documents to approve their loans. Many of the deals are for short sales. One is for a property that has a tax lien filed against it. Young was in the process of trying to get the IRS to issue a document of release to the seller with the tax lien. But all of that is in limbo now.

“Overall, I approached the shutdown as an issue out of the real estate professional’s control and that I will monitor daily,” Young says. “Once reopen, we will continue to push our files.

“I’m not sure what is going on, but I’m lucky that my sellers and the buyers are all being patient,” she adds.

Who knows how long that patience will last, though.

Young has 16 short-sale deals on the table, and they’re all on hold “with some type of excuse blaming the shutdown,” she says. “Some are stating Fannie Mae or Freddie Mac are holding up approvals, and others are stating ‘the investor’ has not approved the deal. I’m a bit concerned about my short sales, which are homestead properties that need to close by year’s end to avoid any additional tax implications.”

Young says she communicates every day with her clients and updates them on any new information she learns related to their deals. That’s what helps keep them calm. But with all these balls in the air, it seems like Young could use some calming herself.

How does she do it?

“I go to yoga class,” she says.

Laura
Marketing manager, Keller Williams Realty
Sarasota, Fla.

By the end of October, Laura, who asked to withhold her last name, and her 8-year-old son will be couch-surfing. The single mom was in line to close on her USDA loan and move into her new home with her little boy by Oct. 20. But now that USDA loan processing has come to a halt, they’ll be making very different plans.

“Even if the government reopened tomorrow, they wouldn’t be able to process my loan until December,” Laura says. “I haven’t come up with a plan for what we’re going to do for the next couple of months.”

She had already committed to moving out of her current place by the end of October, and she doesn’t have the option of extending her stay, she says. Luckily, a few of her co-workers at her 150-person Keller Williams Realty office have offered to open up their homes to her and her son — but that comes with its own set of problems.

“Staying in someone else’s house who you’ve only known for a year, especially with an 8-year-old — it just seems like such an inconvenience to them,” Laura says. And then there’s her son, an even bigger and more important concern. “I want him to have a stable environment,” she says, “but we may have to house-hop for a while.”

Laura says that she has no family in the area. She’s even offered to pay extra to her home’s builder to move in before the loan closes, but the builder wouldn’t except the deal, she says. So until this mess can get straightened out, she’s taking it one day at a time.

“I’m very humble and resourceful — we’ll figure something out,” Laura says.

Pam Aguirre, CRS
Broker-associate, RE/MAX Legends Group
Indianapolis

Aguirre says one of her latest listings is a “show stopper.” It’s a completely renovated three-bedroom, four-bathroom single-family home with newly redone hardwood floors, a remodeled master suite with walk-in closet, new porch, self-closing cabinets, and new finishes. It came on the market just days after the government shutdown went into effect — and Aguirre hasn’t had a single showing yet.

“I feel our marketplace has gotten very quiet” since the shutdown, Aguirre says. “I’m not surprised by the slowdown. I think consumers in general are still very uneasy about the economy, their buying power, and the possibility that a government shutdown may bring a return of what happened to the housing market in 2008.”

The slow response to Aguirre’s listing, located in the car-racing enclave of Speedway, Ind., is all the more troubling because it’s close to the famed Indianapolis Motor Speedway, a major draw for the area.

“I was tweeting about a new listing coming to Speedway last week, hoping to draw some race teams or fans in. Nothing,” Aguirre says.

She admits that because renovation work on the home is wrapping up, she hasn’t had as many listing photos to show, and that could have an effect on buyer traffic to the property. But still, most of her listings that are in good condition, as this one is, have sold within a couple weeks of coming on the market, she says.

Even for properties in poorer condition, “the phone has been ringing and there have been showings,” Aguirre says. But right now, “the phone has been very quiet.”

via Graham Wood Realtor.com

Schlitterbahn Park Progressing, Bringing Local Jobs


CORPUS CHRISTI — Work is continuing around the clock to finish the Schlitterbahn water park out on the island. Recent rain delays are causing a bit of a slowdown, but nothing substantial.

“They’re moving fast as you can see,” said General Manager Stan Hulse as he showed us around the park in progress.

Crews are working rain or shine. “Most of that dirt work is sand, so the water kind of seeps through it, so it may slow us down a little bit while it’s actually raining, but the crews can get right back out there,” Hulse said.

They’re also continuing construction around the clock. “We’ve even got a couple night crews that come in and do some work inside the clubhouse and so forth, so we’re taking advantage of all the time that we can,” explained Hulse.

The goal is to wrap up in time for Summer 2014. Behind the scenes, things are starting to take shape.

Hulse showed us a centerpiece area that will feature a river, a beach and a unique ride called ‘Shoot the Chute.’

“It goes down real fast and splashes water everywhere,” he described, adding it was similar to the type ride you might see at Disney.

While Hulse is excited about the progress, dozens of local workers are happy for the jobs. There are about 80 guys working construction there right now, about half of those are from the Coastal Bend. The plan is to hire even more before the job is complete. “We’ve got 80 now, I think you’ll see about a hundred later on and then as things move forward, they’ll be bringing in different crews for different aspects of the park,” said Hulse.

It’s a park that they hope will eventually bring big business to the Coastal Bend. As far as bringing business for local workers before that, though, there’s not an exact timeline just yet.

“There’s a lot of moving parts with this, mother nature plays a big part, there’s all sorts of different hurtles and obstacles as we move forward, a project this size, so right now, until we get a little bit closer, our official word is Summer of 2014 is when we’ll open,” Hulse said.

For more information and updates on the park and its progress, log onto the Schlitterbahn website.

via KRISTV.com

Business Owners Push to Change Ordinance


A group of downtown business owners are pushing to change a city ordinance that would give code enforcement officers more power to clean up vacant buildings in an area that has become a virtual ghost town.

The Downtown Management District, a group of local business owners, voted at its board meeting Thursday morning to send a recommendation to the city to amend part of a longstanding ordinance that dictates how the city must handle vacant and dilapidated buildings.

The current ordinance prevents the city from inspecting the inside of the building unless there are two code violations visible from the exterior. But since many of the code violations are often on the interior, it is difficult for the city to do anything.

Local business owners have asked the city to amend that part of the ordinance so that only one code violation is required, effectively giving the city more power to crack down on owners who have left their buildings in disrepair.

“Hopefully, this is just one solution to help us get one step closer to fixing up downtown and keeping it the way it should be,” said Casey Lain, owner of the House of Rock and chairman of the management district board.

While the ordinance still does not allow for the city to demolish a vacant building, Lain said it will give the city more teeth in getting owners to comply with the rules. “It’s just a good vibe down here, so it [downtown] needs to be a place that’s good to invest your business in.”

The city is now working on drafting the amendment and is expected to present it to city council sometime this fall.

via KrisTV

Corpus Christi Schlitterbahn Park Being Fabricated in New Braunfels

Schlitterbahn is still scheduled to open on the Padre Island next summer, but you wouldn’t know it by passing by the park site. That’s because a lot of construction is being done in New Braunfels.

Just behind what will be the main entrance on Padre Island, construction crews are working on a pool. They’re building small huts, while at the clubhouse just across from it, construction is planned soon.

“There’s a crew that will be working at this building, they’re going to start refurbishing this building,” said General Manger Stan Hulse.

170 miles away though, in New Braunfels, screw pumps able to push 36,000 gallons of water are already built and ready to ship. So is a large butterfly for the children’s park and dozens and dozens of segments that will be put together for all those Schlitterbahn-famous slides!

The next step is shipping them here.

“Its such a huge endeavor that it’s already been the subject of a couple of episodes of Shipping Wars,” said Huse.

Yes, we could see those parts on national TV, although, that is still in the works.

Once the parts are shipped to Corpus Christi the park will come together rather quickly.

“It will almost look like its going up overnight,” Hulse said.

There’s no date set for putting together those components yet, but we’re told right now, the park is on schedule and we should see Schlitterbahn open its doors by Summer 2014.

via KRIS TV

Plans for Residential Development Around Schlitterbahn Beach Country Resort Revealed!

The first drawings of the design for residential development around the Schlitterbahn Beach County Resort on the west side of SPID have been released. Here is the first look at preliminary design;what the portion of the planned residential development south of the waterpark would look like if it were built today. These plans are the first step in the process of reaching a comprehensive and approved development plan. The plan represents the first section of resort residential development affiliated with the Schlitterbahn Beach Country Resort which is scheduled to open in the spring of 2014 at the current location of Padre Isles Country Club.

INTERVIEW WITH JEFF HENRY, SCHLITTERBAHN OWNER

The design calls for a mix of residential and other overnight lodging accommodations. Included are single-family units, multi-family units, waterfront and greenbelt products in addition the IslandWalk Village will contain retail, restaurants, and entertainment venues that will be supported by hotel sites and marinas for those who choose to arrive by boat.

LARGE SCALE MOCK UP BELOW

 

DETAIL LOOK AT THE WATERPARK FEATURES – RELEASED MAY 30th, 2013

The resort’s initial phase will provide waterpark elements, golf, tennis, marina facilities, and other recreational amenities. Once completed the residential areas of the plan can be assessed from Nemo Court on the east, or Whitecap on the south. This plan is the initial portion of the 500 acre Schlitterbahn Beach Country Resort. IslandWalk Village is being designed by nationally known architect Hart Howerton who did the initial design work for the Villages of Upper Padre Island in 2004 and provided assistance with the Island Area Development Plan during that same time frame. The plan is consistent with each of those original concepts. Opportunities for local business people to participate in the retail, restaurant, and entertainment portions of The Village will be offered in the near future. The Island Moon will publish the details of how to access that process in the near future. ~ Dale Rankin, Island Moon Newspaper

NEW Plans for Gulfside Development Along Whitecap Blvd.

Plans for the BeachWalk Village Development located along Whitecap Blvd. between SPID and the Gulf beach are now complete.  Gulf Shores Joint Venture has released its plans for BeachWalk Village Development fronting the Gulf of Mexico adjacent to Whitecap Boulevard. The plans include single-family beachfront homes, multi-family lodging, and an Island village which wraps around the existing Island House and fronts on the seawall.

The 40-acre site will be Coastal Vernacular architectural style reminiscent of the low country architecture found along the coasts of Georgia, and the Carolinas.  The BeachWalk Village Development is constant with the Island Master Plan and the developments on the west side of SPID.  It is intended to compliment the Schlitterbahn Beach County Development making product available for those looking for beachfront settings.

BeachWalk Village will serve the portion of the market interested in a beach setting and compliment Schlitterbahn Beach Country and IslandWalk now under construction on the west side of Padre Sound (Lake Padre) and on the west side of SPID.  Gulf Shores will shortly make the preliminary drawings for the marina on Padre Sound available in the near future.  “BeachWalk Village ties together the plans for the marina, the Schlitterbahn Beach Country and the BeachWalk,” said Developer Paul Schexnailder. “When completed The Island will have a comprehensive development that is second to none on the Texas Coast.” ~Island Moon Newspaper

Design Plans for Island Water Exchange Bridge Takes Major Step Forward!

Design plans for the proposed Park Road 22/SPID Water Exchange Bridge will move forward before final decision is made on permitting by the Texas Department of Transportation, which means work on the bridge could begin much earlier than expected.

Until last week City Engineers did not plan to begin final design work on the $8.1 million bridge until the TxDot ruling on permitting which is not expected until at least the fall of 2013; this meant that final design of the bridge could not possibly be done until well into 2014, delaying the bridge’s construction and causing potential delays in the digging of the proposed IslandWalk Canal to connect the Schlitterbahn waterpark to amenities including a marina, on the east side of the highway.

That logjam was resolved last Friday when City Manager Ron Olson directed the city engineering staff to proceed with the detail
design of the bridge while awaiting the ruling from TxDot on permitting, which is expected within the next month and will likely be
followed by a public hearing.  Olson’s move clears the way for work on the canals to begin much earlier.  Under his existing permits developer Paul Schexnailder must build water exchange culverts under the roadway connecting the new canal on the west side of the
road to Lake Padre on the east.  However, last year the Corpus Christi City Council approved the use of $8.1 million in bond money to instead replace the culverts with the bridge which would allow for boats to pass underneath as well as pedestrian and golf cart paths.

The current design would allow for water passage through a six-foot deep channel and would include walking and cart paths on each
side along with about a 14-foot clearance from water level to the bridge for boat passage. It would take about one year to complete and
during most of that time traffic on SPID would be reduced to one lane each way As the city moves forward with the final design of the bridge all required permit work is proceeding on the IslandWalk Canal.

by Dale Rankin Island Moon Newspaper

Recent Market Data For North Padre Island

North Padre Island Real EstateDID YOU KNOW??

INTERESTING FACTS ABOUT PADRE ISLAND AS OF MARCH 1, 2013

Waterfront Homes / Lots

There are currently 1,917 waterfront homes built on Padre Island.

There are only 189 waterfront lots left to be built on, on Padre Island.

Water Access Homes / Lots

There are currently 1,336 water access homes built on Padre Island.

There are only 1,017 water access lots left to build on, on Padre Island.

If you are even thinking about owning or building on Padre Island in the next 6-12 months we feel there is some urgency as to atleast get fully informed about the current market.  As all the new commercial developments continue here, the cost of Real Estate could go up dramatically within 24 months.  We are here to answer your questions and help you to secure your spot in Paradise, Give us a Call Today at (361) 949 – 0101.

Data provided by Corpus Christi Association of Realtors.

Want to SEARCH all Property available in the MLS in Real TIME?  GET our BRAND NEW SMARTPHONE APP for FREE >> Click HERE

 
 
 





Schlitterbahn is a very GREEN Company!

Give him time, and Jeff Henry may one day find a patent on raindrops.

The creative force behind the Schlitterbahn water park success story, Henry knows the value of water and has no problem explaining to a drought-parched city like Corpus Christi how a water park like his will not be a drain.

It’s a skill cultivated through more than four decades of developing, designing and opening water parks in a variety of conditions, including in times of drought.

His family’s first park — Schlitterbahn New Braunfels — grew during a drought that had the park’s wellspring, the Comal River, on the ropes.

“In ’84, we became very cognizant of water usage because we were worried the river would run dry,” Henry said.

So they learned to build closed-loop systems, fill them once, and channel them into a variety of purposes, filtering the water as they go.

Now, Schlitterbahn is building a $41 million water park in Corpus Christi, set to open in summer 2014. What few counted on is a drought that weather experts say is going to tighten its grip on the city’s fast-sinking reservoirs.

In an average year, Nueces County gets between 30 inches and 34 inches of rainfall, according to weather records. In 2011, rainfall dipped to fewer than 13 inches. It inched back up in 2012, to 18 inches.

As of Friday, the city had received 1.92 inches of rain since Jan. 1.

Inflows to the reservoirs total more than 724 million gallons through the first three months of the year. That is enough water for about 4.5 months, based on the city’s annual consumption.

The combined level of the city’s reservoirs stood at 35.4 percent of capacity as of last week. The level could dip below 30 percent sometime in June or July, according to city water planners, which would put the city into Drought Stage 3.

Should the city enter stage 3, the Schlitterbahn park would be subject to the city’s conservation plans. Another wrinkle resides in a city ordinance that allows the city manager to curtail all new water connections during a stage 3 drought.

Master plans call for a resort hotel to go with the park, but the park will be built first.

If business owners near Schlitterbahn’s master plan were in the beginning concerned that the park will use more than its fair share of water, the concerns have been addressed, said Stan Hulse, executive director of the Padre Island Business Association.

Hulse said with one deluge, water consumption could become a moot point.

“Although we are in a drought situation, there’s no way of predicting it will be the case when they fill the park,” Hulse said.

But Henry isn’t waiting on it to rain.

He does not need to.

TRANSPORTAINMENT

It is a lot easier to get into than out of the water flowing around the Pirate’s Cove at Schlitterbahn South Padre Island.

The cove, a new indoor-outdoor section of the park, is surrounded by a 3-foot deep river with a current meant to be enjoyed but strong enough to get what it wants.

The current is the product of unseen pumps and a sump that continuously fills and then releases the more than 750,000 gallons of water coursing through the system.

The river also is the wellspring of the rest of the cove. It feeds the two corkscrew slides and a children’s watergarden nearby, plus two wave pools, a heated lagoon and swim-up bar.

Video: Schlitterbahn: Wasser, wasser everywhere

 

The river helps accomplish the goal of keeping the water inside the park and the guests inside the water.

The concept is called Transportainment, trademark, and it is the liquid backbone of an entire business model predicated on doing more with less.

And over it all is a retractable greenhouse canopy — purchased secondhand from the San Antonio-based Schulz Nursery — that shelters guests from colder weather and allows the park to operate when others are closed.

The canopy saves energy costs by trapping warm air inside the park, which in turn keeps water temperatures comfortable.

There is another benefit.

As warm air rising from the park meets the cold surface of the canopy, condensation can develop.

“It actually can rain in here,” said Jack Soto, director of operations for the South Padre Island park, during a recent tour.

Eric Hansen, an architect who has studied water consumption in water parks on behalf of the Hotel & Leisure Advisors, a national hospitality and consulting firm, said though it may be counter intuitive to think of a water park as a conserver, the data backs it up.

“Water is a bottom line consideration for a water park, as much or more than other leisure businesses,” Hansen said.

Henry said it takes about 2.5 million gallons — the equivalent of about 100 swimming pools — to fill the average Schlitterbahn park. The city’s largest commercial water user, a power plant group, consumes 70 million gallons a year.

“Some is lost to evaporation, but that’s it,” Henry said.

Water used to clean water filters — called backwash water — is captured and stored to irrigate the drought tolerant landscaping.

Both Schlitterbahn and Hurricane Alley — the only water park now in operation in Corpus Christi — played it close to the vest on actual water consumption.

Hurricane Alley did not provide information and the city could not provide it because of a privacy clause on water consumption between Durrill Properties, which owns the park, and the city, said Kim Womack, spokeswoman for the city of Corpus Christi.

Schlitterbahn would not provide specific data on average daily water consumption at its water parks and resorts.

According to Hansen’s study, a 100,000-square-foot water park resort might consume up to 160,000 gallons of water per day.

If the resort was located in Corpus Christi city limits, 160,000 gallons per day translates into a minimum utilities tab of $12,000 a month, based on the city’s commercial rate.

But when broken down by per capita use per day, a water park may actually consume less than a residential home, based on another study by Hansen.

Using two parks as examples, Hansen calculated that a water park guest will consume about 40 gallons per day. A single family residence, which could include several people, may use 70.

“In the overall water park water system, the maintenance and topping off operation accounts for 2 percent to 3 percent of total water use on a daily basis,” Hansen wrote in his report. “In other words, a water park is reusing approximately 97 percent to 98 percent of its water system.”

Hansen said a golf course, by comparison, averages between 300,000 and 500,000 gallons consumed a day, according to the study.

“The idea that a water park is a big water consumer is false,” Henry said. “The truth is, it is actually a water conservator.”

LIQUID DNA

The water park also has no guarantee on water from the city, said Winter Prosapio, Schlitterbahn’s corporate communications and government relations director.

“We depend on water just like anybody else,” she said. “But for us, it’s a codependency. It’s in our DNA — we were built on a river.”

Because there are no guarantees, Prosapio said the company has a contingency plan of operations for drought restrictions.

The parks feature drought-resistant landscaping, river-ride basins and tube walls extending far above the water line. In New Braunfels, the park has a permit from the state to drawn water from and return it to the Comal River.

On windy days water lines to landscaping and water fountains are shut down to reduce waste.

And every employee is drenched in water-conservation principles, said Soto of the South Padre Island park.

“Everyone, even life guards, are taught the importance of water conservation,” he said.

No specific design plans have been released, but every park follows a basic pattern and the Corpus Christi location will be hewed from its predecessor on South Padre Island, Prosapio said.

There will be a “Master Blaster,” a “Boogie Bahn” and a tidal river, which all are signatures of the Schlitterbahn plan, she said.

But from there, it is anyone’s guess.

“(Jeff Henry) is so creative,” she said. “He can change on a dime.”

An inventor and world-renowned park designer, Henry’s park design company, NSBG International, has introduced the Transportainment model at the Wild Wadi Water Park in Dubai, where it rains less than a half inch a year.

He has patented a variety of water park technologies for everything from a polymer coating on rides to water propulsion devices.

Such dedication to reusing and recycling trickles down through the entire organization, said Michael Bigelow, director of marketing and sales at Schlitterbahn South Padre Island.

“Jeff is always looking for ways to protect the environment,” Bigelow said.

A FLUID VISION

So Henry is impatient with the idea that a water park will not carry its weight in water for the community in which it is located.

“All water is borrowed water,” he said, invoking a mantra his employees have come to appreciate.

The system of pumps and filters — including two the size of compact cars — that serve an area of the New Braunfels park similar to what may be seen in Corpus Christi, recirculate more than 100,000 gallons an hour, during peak times, said Ace Horan, maintenance director at Schlitterbahn New Braunfels.

Leaks and drips are addressed by the small army of maintenance workers who swarm the park, Horan said.

“We are pretty hysterical about it,” he said “It is in our best interest to conserve as much of it as we can.”

Henry said Schlitterbahn has a strong bond with its communities.

“This Schlitterbahn will be built and belong to the people of the city,” he said. “We are caretakers of the land and the water, and our job is to be good stewards and manage it.

“I work for the people that buy tickets — those are my shareholders — not the guys that put a few million in,” he said. “They’re just facilitators applying their wealth back into the community.”

Henry, who blends Warren Buffett’s focus with Jimmy Buffett’s style, said he is not in it to conquer the world or waste its resources.

“We don’t believe in building things for ourselves to amass wealth,” he said. “We build it for everybody and that money should be plowed back into the community to create more.”

The bottom line, Henry said, is the satisfaction in seeing families set aside their tablet computers, cellphones and daily stresses and just have a little fun.

“Everybody needs a swimming hole, even in a drought.”

via Caller Times

FORBES: Corpus Christi a top City Leading Real Estate Recovery!

corpus christi homesWe are excited to report that FORBES magazine earlier this month listed Corpus Christi as the 9th City that is leading the Nations Housing Recovery!

“This February is by far the best we have seen in the past 5-6 years, if this keeps up we will shatter last year’s numbers for sure” Realtor Cheri Sperling said.

The survey in Forbes was conducted on all metropolitan cities that exceeded the rest of the country statistically. Corpus Christi ranked ninth among 146 cities nationwide, with its low unemployment and median housing prices. The highlight of the article was that our real estate appreciation in the area grew 3.18 percent in 2012.

“We had a pretty good year in 2012,” Corpus Christi Association of Realtors President and CEO Gary Doran said. “We’re recovering well.”

The area housing market had excellent success in 2012 since slumping back in 2007, according to the Corpus Christi Association of Realtors.

This Data, certainly tells the story.

Median sales price of a home sold in the Coastal Bend was $142,500 in 2012, an increase of 5.6 percent from 2011 prices.

As 30-year fixed-rate mortgages dropped to 3.88 percent, Corpus Christi experienced an increase of 16.8 percent in units sold in 2012.

When the housing bubble busted in 2007 with a massive credit expansion and subprime loans were given to buyers who were at much higher risk of defaulting. CCAR had lost almost half of its 1,500 members by 2011 after the market had an incredibly slow year.

“Numbers in inventory were extremely low in the MLS, and I remember speaking to many realtors who couldn’t not make a living and had a very difficult time paying their bills,” Cheri Sperling, said.

Today the market has shifted to benefit sellers, with some buyers having houses swept away from them after making an offer.

Cheri Sperling attributes the increase in our housing market to news of Schlitterbahn Water park, increase in inner Texas cities beginning to see Corpus Christi as a great 2nd home destination and of course the expansion of Eagle Ford Shale oil and gas exploration.

The influx of people has brought the rental management side of my business to be at near capacity to almost full, with leased property staying on the market for very short periods of time, Sperling said.

“As our rental prices and demand goes up, it makes it a better market to buy, particularly in many of our dry and waterfront lots” she said.

Residential Home Sales in the Coastal Bend

Category 2011 2012

Homes sold 3,640 4,249

Average sales price $156,751 $170,191

Average days on market 109 120

Median sales price $135,000.00 $142,500.00

30-year fixed rate mortgages 4.25 3.88

Source: Corpus Christi Association of Realtors

Schlitterbahn Beach Country Resort – Ground Breaking!

It’s official. The planned $41 million Schlitterbahn Waterpark is one step closer to becoming a reality. A groundbreaking ceremony was held Friday on Padre Island.

Kiii News Reporter Bill Churchwell went Live from the Padre Isles Country Club with the details.

There was plenty of excitement from the crowd as they watched the mayor and the owners of Schlitterbahn break ground with golden shovels and construction equipment.

For the first time, we were able to see what the waterpark will look like, as an artist rendering of the 65-acre project, including rivers, rides, slides, surf and lodging, was put on display. It will be the fifth waterpark built by the family-owned and operated Schlitterbahn.

“This park is going to be our newest, most modern, prettiest, best park we’ve ever built,” said Jeff Henry of Schlitterbahn Waterparks.

“We’ve had our eye on Corpus for a long, long time,” said Robert Henry, also of Schlitterbahn Waterparks. “We had to develop our techniques to a finer point. Takes a lot of time and money. We’ve waited for Corpus to grow up to it, and I believe you’re there.”

Early during the development, there was some concern that the country club and golf course would be removed, but that will not be the case. It will remain in place, and it will be improved.

Schlitterbahn plans to open by March of 2014.

SCHLITTERBAHN BEACH COUNTRY RESORT MAP (CLICK HERE)

PHOTOS FROM THE GROUND BREAKING CEREMONY!

Breaking News on Schlitterbahn Corpus Christi

BREAKING NEWS:

Schlitterbahn

is breaking ground Friday at 2 pm for its new water park resort on North Padre Island.
Water park resort officials are expected Tuesday to finalize the land purchase and project financing, said Jeff Henry, co-owner of Schlitterbahn.

A couple weeks ago, the city granted a grading permit for the project, which allows the project to break ground. However, full construction permissions have not yet been granted, according to Mark Van Vleck, director of city’s development services.

Schlitterbahn had until the end of February to break ground in order to meet their $117 million economic development incentive with the city.

The $41 million resort planned west of Park Road 22 tentatively is set to open in March 2014. Early designs showed the project would include a 65-acre water park with lodging, golf and restaurants. It will be built on the existing golf course and tied into a master plan for the area that includes a marina in Lake Padre, an extension of the residential canal system, hotels, condos and single-family homes on about 500 acres of mostly undeveloped land.

Via. Caller.com

Come join the fun Islanders, we will be there with cameara’s documenting this momentous occasion.  As North Padre Island makes its biggest leap in the 21st century, we still can’t believe it’s here.  Thank You to all of you that kept your vision…the day is almost here!! ~Cheri

FREE SCHLITTERBAHN MAP & PROJECT DETAILS