Reasons Why First-Time Homebuyers Are Considering Condominiums

Why First-Time Homebuyers Are Giving Condos a Closer Look

Buying your first home can feel overwhelming, especially with high prices and limited choices. But there’s good news: condos, or condominiums, are becoming a more affordable and realistic option for first-time homebuyers.

A More Affordable Option Is Opening Up

Home prices in general have slowed down in how fast they’re rising, but condos are seeing a small dip in price. This means there’s a better chance for new buyers to finally find a place they can afford.

One big reason is that more condos are being built. In 2024, there was a rise in multi-family home construction, which includes condos. With more condos available, prices are starting to become more competitive.

Why Are Condos Getting Cheaper?

Several things are making condos more affordable in today’s market:

  • More New Construction: Builders have been creating more multi-family homes, like condos, which means there are more to choose from.

  • Slower Demand in Some Areas: In markets where fewer people are buying homes, condo prices tend to go down quicker than regular houses.

  • Local Challenges Lower Prices: In some places, like parts of Florida, higher insurance costs and environmental issues are affecting condo values, sometimes leading to better deals for buyers.

Great News for First-Time Buyers

For people just starting out, condos are becoming a strong option. Prices are a little lower, there are more available, and sellers may be more open to negotiating prices or offering extras to close the deal.

If you’re looking for a place of your own but thought it was out of reach, now might be a good time to take another look—especially at condos.

Final Thoughts

With condo prices becoming more buyer-friendly, 2025 could be a great year to take that first step into homeownership. It’s a good idea to talk to a trusted real estate agent or lender who can help you decide if a condo is the right fit for you.

Original Source: The Mortgage Reports

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

Smart Money Moves: Why Investors Should Watch Baby Boomer Buying Trends

In today’s dynamic housing market, it’s crucial for investors to stay attuned to shifting trends and demographics. One significant development is the resurgence of baby boomers (ages 60 to 78) as a dominant force in real estate transactions. According to the National Association of REALTORS® (NAR), this group now accounts for 42% of home buyers and 53% of home sellers, surpassing other generations in market activity. Investopedia+1National Association of REALTORS®+1

Why the Surge?

Several factors contribute to this trend:

Implications for Investors

Understanding the preferences and behaviors of baby boomers can inform strategic investment decisions:

  • Property Types in Demand: Boomers often seek single-story homes with low maintenance, proximity to healthcare facilities, and community amenities. Investing in properties that cater to these preferences could yield favorable returns. New York Post

  • Market Dynamics: The increased purchasing power of boomers, especially those making cash offers, may intensify competition and influence pricing in certain segments.

Visualizing the Trend

To better grasp the impact of baby boomers on the housing market, consider the following chart illustrating the generational share of home buyers:

 home purchasing decisions

Source: NAR 2025 Home Buyers and Sellers Generational Trends Report

Staying Ahead

Investors should monitor these demographic shifts and adapt strategies accordingly. By aligning investments with the evolving demands of the baby boomer generation, opportunities arise to capitalize on this influential segment of the market.

Note: For a comprehensive analysis, refer to NAR’s 2025 Home Buyers and Sellers Generational Trends Report.

BBB – What to know about IRS impostors and tax preparation fraud

The season for filing 2024 taxes began on Jan. 27, and while some Texas residents are planning on submitting their own returns, others are reaching out to reputable tax preparers for assistance. With roughly three months remaining until the fling deadline of April 15 for general tax returns, Better Business Bureau reminds residents to be wary of con artists and unethical businesses who claim to specialize in tax preparation.

Additionally, BBB reminds businesses and consumers to be aware of an increase in IRS impostors attempting to contact fix filers through email, text, social media, or other methods to steal personally identifiable information (PII)

IRS Impostor and Phishing Scams:

Impostor scams remain one of the most common types of fraud reported to the FTC by Texas residents, with nearly 600,000 reports in the first three quarters of 2024. Across the U.S., impostor scams account for $2 billion in losses, surpassing losses to the next three most frequently reported types of fraud combined. IRS impostors target tax filers and tax preparation businesses, often claiming the recipient must take immediate action or confirm account details.

IRS impostor scams are carried out through unsolicited phone calls and emails, and may target students, faculty, and staff” at educational institutions with a edu email address. Emails often display the IRS logo and encourage recipients to follow a link to verify their tax refund payment by entering PII, such as their SSN, date of birth and current address, on a look-a-like website. The website is a phishing scam, and the information provided could lead to identity theft or Stolen Identity Refund

Remember, the IRS will never:

  •   Demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer.
  •   Threaten to immediately contact local police or other law enforcement to have the taxpayer arrested for not paying.
  •   Demand that taxes be paid without allowing taxpayers to appeal the amount owed.
  •   Unexpectedly call about a tax refund.
  •   Send emails about your tax refund or sensitive personal information.
  •   Initiate contact with taxpayers by email, text message or social media to request personal or financial information.

Ghost Tax Preparer Scams:

A ghost preparer as a professional tax preparer, often guaranteeing a significant tax return when using their services, However, the preparer either refuses or conveniently “forgets” to sign the return they created on behalf of a client.

By federal law, anyone paid to prepare, or assists in preparing, a federal tax return must have a valid Preparer Tex Identification Number (PTIN). Tax preparers must sign and include their PTIN on any returns they create on behalf of a paying customer.

Businesses or individuals refusing to sign a return is a red flag that they may be fraudulent, leaving the consumer to deal with the IRS in the aftermath of an illegitimate or incorrect filing. Filing a valid, accurate tax return is ultimately the taxpayer’s responsibility, emphasizing the importance of choosing a credible tax preparation professional.

It is important to carefully analyze a chosen tax preparation business due to the PII provided, such as SSN, bank account information, home address and financial assets. BBB recommends spending the time to research tax preparation professionals to determine their credibility and legitimacy. The IRS provides a directory service that lists preparers in a searchable area who currently hold professional credentials recognized by the agency, Additionally, use available resources, such as BBB.org› to search for accredited tax preparation businesses.

Individuals impacted by tax preparer misconduct can file a report with the IRS at IRS.gov/tax-professionals and are encouraged to file an official complaint on the business’s BBBBusiness Profile, as well as submit a report to BBB Scam Tracker:

For more information about how to avoid tax scams and choose the right tax preparer, visit BBB.org/Tax Tips

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

Safety is a City priority for Spring Break on Padre Island

The sound of waves crashing against the shore, seagulls soaring overhead, and families laughing as they create lasting memories, this is the experience of many visitors and residents on The Island, Whether you’re a local or traveling from afar, we know safety is a top priority when celebrating Spring Break.

Here on The Island, we are committed to providing a safe and family-friendly environment without compromising the well-being of our residents and visitors. Our beaches are a treasure, offering both relaxation and adventure, but safety should always come fist. Whether you’re soaking up the sun, swimming in the Gulf, or driving along the shoreline, taking simple precautions ensures a fun and enjoyable experience for everyone.

The City of Corpus Christi, along with our dedicated first responders, lifeguards, and beach patrol, works tirelessly to keep our coastline safe. Beach flags are posted daily to indicate water conditions, and we encourage everyone to stay informed before swimming. Rip currents can be strong, to swimming near lifeguard stations and knowing how to react it caught in a current can be lifesaving.

The Corpus Christi Police Department is committed to maintaining a safe and enjoyable environment for all. Expect additional officers patrolling both roadways and beaches to assist where needed. Due to the influx of visitors, CCPD will deploy specialized units across The Island, including a Mobile Command Vehicle, Crime Reduction Unit, Dedicated Patrol Officers, Drone Officers, Enduro Officers, Traffic Unit, and DWI Enforcement Unit. In addition to regular patrols, two daily overtime shifts with 6 to 8 oficers will provide enhanced security and community support.

Before heading out, don’t forget that 2025 Beach Parking Permits are available for $12, granting year-round access to The Island’s stunning Gulf Coast beaches. More than just a pass, your permit helps fund lifeguard services and keep our shores clean. Visit the city’s website or check news releases for more information.

As you enjoy Spring Break, remember to check daily surf conditions, drive responsibly, follow speed limits, and watch for pedestrians, especially children near the water’s edge.

Spring Break on The Island is about making lasting memories. By staying aware of your surroundings, respecting the environment, and looking out for one another, we can ensure that fun and safety go hand-in-hand.

Paulette Guajardo, Mayor of the City of Corpus Christi

BBB Tip: Recovering from freezing temperatures while avoiding

BBB Tip: Recovering from freezing temperatures while avoiding unethical contractors and utility impostors

Over the weekend, plummeting temperatures and wintry weather mixtures have struck
communities across Texas, with many residents experiencing power outages, ruptured water
lines, hail damage, fallen tree limbs, or other issues due to below-freezing temperatures. As
home and business owners begin to thaw out in the coming days, many will discover a
variety of problems resulting from the sudden cold snap. While some homeowners can
easily handle cleanup and repair efforts, others will likely require the help of a professional.
Additionally, other residents may begin to piece together facts and receipts to learn they
interacted with an impersonated utility company that demanded immediate payment or a
fraudulent online seller advertising winter weather and emergency products.

After significant weather events that are likely to result in property damage, Better Business
Bureau typically receives an increase in reports of unethical contractors operating across
affected regions. Commonly referred to as ‘storm chasers,’ many businesses offering
services to residents negatively impacted by severe weather are well-respected and
legitimate. However, among these groups are those who would take advantage of a
homeowner in need rather than provide any meaningful service.

Some common issues reported to BBB in these types of situations include:
 The contractor requires a significant deposit (over 50% of the total estimate) from
the property owner and then continually postpones the start date until
communication stops. Any effort by the homeowner to contact the business is
unsuccessful, and the business’s physical location is either too distant to travel to,
abandoned, a residential home for sale, or a vacant lot.

 The homeowner is approached by a contractor who claims they have excess material
left over from a nearby project, and the business can pass the savings on to the
homeowner if they can start work immediately. Once the contractor begins the
project, the scope of work expands far beyond what was initially estimated, and the
homeowner is held accountable for paying a final bill that is significantly more
expensive than they expected.

 Repairs on systems requiring specialized work (plumbers, electricians, HVAC
technicians, etc.) are done by an unlicensed individual, leaving the homeowner liable
if the contractor did not do the repairs correctly or did not comply with the applicable
housing codes.

Property owners are encouraged to verify that the provided licenses are valid by checking
with the appropriate regulatory agency. In Texas, the Texas Department of Licensing and
Regulation and the Texas Department of Agriculture are two of the most likely agencies that
hold licenses for businesses that property owners may call upon to help recover from
freezing temperatures.

Decreasing temperatures also allow utility scammers to take advantage of people’s fears of
being without heat during the cold weather. Be wary of texts, phone calls or emails from the
utility company that services your area claiming that they will shut your heat off
immediately unless an outstanding bill is paid. According to the Public Utility Commission of
Texas, an electric utility company cannot disconnect a customer anywhere in its service area
on a day when:

The previous day’s highest temperature did not exceed 32 degrees Fahrenheit, and
the temperature is predicted to remain at or below that level for the next 24 hours,
according to the nearest National Weather Service (NWS) reports.

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

February 2025 Heart Health Month

The month of February is designated as Heart Month. This month strives to educate the
public about the importance of improving heart health. This endeavor aims to help people
identify and understand helpful adjustments that can be made to increase heart health. The term
“heart disease” refers to several types of heart conditions. In the United States, the most common
type of heart disease is coronary artery disease, which can lead to heart attack. You can greatly
reduce your risk for heart disease through lifestyle changes and, in some cases, medicine. There
are several everyday things that we can do in achieving healthier lives for 2025. With this
designation, both the American Heart Association along with the US Centers for Disease Control
and Prevention (CDC) have put out some great information.

Heart disease is the leading cause of death for men and women in the United States.
Every year, 1 in 4 deaths are caused by heart disease. The good news is that heart disease can
often be prevented when people make healthy choices and manage their health conditions.
Communities, health professionals, and families can work together to create opportunities for
people to make healthier choices. National trends show heart disease death rates are declining
more slowly than they have in the past, especially among adults ages 35 to 64. The CDC
Division of Heart Disease and Stroke Prevention and Million Hearts is focused on letting
younger adults know they are not immune to heart disease, but that they can reduce their risk—at
any age—through lifestyle changes and by managing medical conditions. For more information
and statistics about heart disease visit https://www.cdc.gov/heartdisease/index.htm.

Here are some tips from the CDC to take control of your heart health:
 Find time to be active. Aim for at least 150 minutes of physical activity per week.
 Make healthy eating a habit. Small changes in your eating habits can make a big
difference. Try making healthier versions of your favorite recipes by looking for ways to
lower sodium and trans-fat. Additionally, try to incorporate more fruits and vegetables.

 Quit tobacco. Smoking cigarettes and using other tobacco products affects nearly every
organ in your body, including your heart. Visit the CDC website for great tips on how to
quit. https://www.cdc.gov/tobacco/campaign/tips/quit-
smoking/index.html?s_cid=OSH_tips_D9385

 Know your numbers. High blood pressure and high cholesterol are major risk factors for
heart disease. Ask your health care team to check your blood pressure and blood
cholesterol levels regularly and help you take steps to control your levels.
 Stick to the “script”. Taking your medications can be tough, especially if you feel fine.
However, focusing on your medication routine is important for managing and controlling
conditions that could put your heart at risk.

The American Heart Association (AHA) is an organization that helps bring heart health
knowledge, leadership, and resources to all levels of government. Whether it is the federal, state,
or local level, the AHA identifies ways of educating the public and develops systems of care that
work to help acute conditions, which will result in helping to improve the patient’s outcomes.
Many of these systems coordinate impacted people to help them recover, while also improving
the cost-effectiveness of their care. These systems of care generally are tailored by more
localized methods that focus on certain regions of the nation and individual states. The
Association uses collected data that helps a seamless transition from each stage of care. It is with
these types of awareness and outreach that they hope will save lives. If you would like to learn
more information about healthy tips on cardiovascular health, you can visit the American Heart
Association’s website at www.heart.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. 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 Nueces County (Part). He can be contacted
at todd.hunter@house.texas.gov or at 512-463-0672.