Is Now the Time to Buy? What First-Time Homebuyers Need to Know About Today’s Market

If you’ve been waiting for the right moment to enter the housing market, you may want to start paying attention. Inventory is climbing, and first-time buyers are beginning to reappear, suggesting a subtle shift in momentum. But while opportunity may be knocking, challenges like high prices and stiff competition still stand in the way.

A Quick Look at the Market:

According to the National Association of REALTORS® (NAR), existing-home sales—which include single-family homes, townhomes, condos, and co-ops—fell by 0.5 percent in April compared to March. Compared to the same time last year, sales are down by 2 percent.

So, what does this mean? More homes are hitting the market, but buyers are hesitant, keeping sales activity slower than expected. This could open the door for first-time buyers who are prepared to act decisively.

First-Time Buyers Are Reemerging:

One of the more encouraging trends is the return of the first-time homebuyer. In April, 34 percent of existing-home sales were made by first-timers. That’s the highest share recorded since July 2020, showing that more new buyers are finding pathways into the market.

For many, this may be a signal that the tide is turning—especially for those who have been waiting on the sidelines.

It’s Still a Seller’s Market, But Conditions Are Evolving:

Make no mistake, sellers still hold the upper hand. The median price for existing homes rose to $414,000 in April, a 1.8 percent increase over the previous year. However, that growth rate is slower than it has been in recent years.

Inventory is up nearly 21 percent year-over-year, offering more choices for buyers and opening up potential for negotiation. According to NAR’s Chief Economist Lawrence Yun, a drop in mortgage rates could quickly unleash pent-up demand from buyers who have been waiting for relief.

Competition Remains High

More inventory doesn’t mean less competition. Many homes are still attracting multiple offers and selling quickly. NAR’s recent Confidence Index found that:

  • 60 percent of homes sold in under a month

  • 18 percent sold for more than the asking price

  • Homes received an average of 2.4 offers

  • 25 percent of buyers paid with all cash

  • 20 percent waived inspections or appraisals to stay competitive

This data shows that serious buyers are acting quickly & strategically and that first-time buyers need to come prepared to make an offer.

Regional Breakdown

Here’s how sales and pricing trends played out across the country in April:

  • Northeast: Median price $487,400, up 6.3 percent year-over-year

  • Midwest: Median price $313,300, up 3.6 percent

  • South: Median price $365,300, down slightly by 0.1 percent

  • West: Median price $628,500, down 0.2 percent

Final Thoughts

For first-time homebuyers, the current market presents a rare mix of opportunity and challenge. While prices remain high and competition is real, rising inventory and shifting market dynamics are creating windows of possibility. If you’re ready to buy, this could be a smart time to take the next step—especially if you’ve already built up your savings, secured financing, and found a trusted real estate advisor. Preparation and timing will be your biggest assets in today’s market.

National Mental Health Awareness Month

Each year, May is designated as National Mental Health Awareness Month. This
awareness month began to educate communities about mental health conditions and provide
support along with resources to those individuals living with mental illness. Millions across the
country are affected by mental illness each year. According to the Texas Statewide Behavioral
Health Coordinating Council, over 3.3 million adults in Texas are living with a mental illness.
Furthermore, more than half of the adults in Texas who need mental health treatment do not
receive any. Unfortunately, children are affected by mental illness as well. According to the
Texas Health & Human Services Commission, one out of four children will have a mental illness
during childhood. Therefore, breaking down the stigma attached to mental illness through
education and outreach is a key goal of National Mental Health Awareness Month.
According to the National Alliance on Mental Illness (NAMI), a mental illness is a
condition that affects a person’s thinking, feeling, behavior, or mood. Mental health conditions
are far more common and come in many different forms. As a result of this, it is important to
look for common signs of mental illness in adults and adolescents. To learn more about the
Substance Abuse and Mental Health Services Administration (SAMHSA) and find more
information about mental health conditions, please visit SAMHSA. For more resources please
visit the Texas Health and Human Services Commission. For more mental health resources in
Texas, visit Mental Health Texas.

In Texas, the Department of State Health Services (DSHS) contracts with Local Mental
Health Authorities (LMHAs) across the state to provide mental health services to communities.
The Nueces Center for Mental Health and Intellectual Disabilities delivers mental health services
to those who live in Nueces County. You can learn more by visiting https://www.ncmhid.org/.
Additionally, you can visit the Coastal Plains Community Center, which provides mental health
services in Aransas County.
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.state.tx.us or at 512-463-0672.

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

BBB Scam Alert: Investment Scams Cost Texas Residents

Within the first two months of 2025, Texas residents have reported nearly $500,000 lost to
investment scams to BBB Scam Tracker, with many reports detailing new promotional
tactics scammers are using that encourage investors to participate in the scheme. By
framing an investment opportunity with ‘New Year’ discounts on service, withdrawal, and
tax fees, some Texas residents have lost more than $100,000 and cannot recover their
funds. BBB’s 2024 Scam Tracker Risk Report found investment and cryptocurrency scams
are the No. 1 riskiest scam North American consumers encountered last year. 80% of people
who were targeted by this scam lost money with a median loss of $3,800.

Investment scams are not modern inventions, but many new technologies are making it
easier than ever for anyone to enter the investment scene, opening countless opportunities
for legitimate and fraudulent traders. Using the reach and engagement of social media, con
artists create highly engaging content and position themselves as an expert source of
information, capitalizing on confusing financial terms and unclear processes. Some of the
primary sources scammers use to find a potential target include:

 Canvasing social media community groups that focus on investments or
cryptocurrencies and proactively contact people who ask questions.
 Creating short-form video content that demonstrates their successes while investing,
often by showing large bundles of cash or a lavish lifestyle.
 Establishing a romantic link with a target then directing them to an investment
opportunity, leaning heavily on flattery and disguising their true intentions under the
veil of an online relationship.

Using sophisticated systems designed to appear like legitimate investment dashboards,
scammers mislead their target into believing their initial investment is creating huge
returns. Encouraged by what they can see with their own eyes, investors listen to the
recommendations of the scammer to invest more of their money into the fraudulent fund
with many liquidating financial assets, taking out personal loans, or refinancing their homes.
The assumption is they’ll easily be able to recover once they withdraw their funds.
Unfortunately, when they attempt to withdraw their money, many victims learn that the
‘trader’ is a fraud.

After attempting to withdraw, investors may be charged a series of service, withdrawal, or
tax fees before the money is released to their accounts, and the rates of these charges do
not reflect the promotional offer used when they initially signed up for the service. When the
fees are paid, the scammer disappears with the remaining investment, access to the
dashboard is disabled, and many deactivate the social media accounts they used to initiate
contact. Alternatively, the scammer takes these actions immediately after the withdrawal
request is made without charging additional fees. In some of the costliest cases, the
scammer continually charges progressively higher fees to withdraw, claiming that the total
deposit in the fund must first meet a predetermined level before it can be accessed or that
additional services must be paid.

Consumer Reports:
Houston, Texas – January 2025
“[The trader] told me I could start investing with $200 and would get up to $2,000. He
would help set up my account and manage my trades [with] a 10% company fee off my
profits. I was told to send $200 to a Cash App account, and when the trade was supposedly
over, I was charged $575 to get my profits. When I paid that, I was told I needed to pay
$350 for IRS taxes. At that point, I did not pay any more money and told the person I was
going to report them. They deleted our conversation and blocked me.”

Cedar Park, Texas – February 2025
“They had a group on WhatsApp stating that they would teach you how to trade
cryptocurrency, and you can earn money from it using paired crypto contracts by setting up
an account and downloading a specific app. You can see your money growing in the account,
but once you try to request the funds, they tell you that you must pay a 33% tax fee to
receive the funds. I reluctantly paid it and still did not receive the funds. Eventually, they
told me that there was an error and that I would need to pay $500 to fix it. I stated that
this was a scam and was immediately removed from the group.”

Fort Worth, Texas – January 2025
“Initially approached off TikTok, they claimed there was a guaranteed investment growth of
15%. After the initial investment [of $3,000], I was hit with extortion when it came time to
withdraw the funds. They said I had to pay more to ‘unlock’ my funds to be transferred. I
did this hoping I wasn’t being scammed; I was wrong. They kept every dime I sent and then
ghosted me when I asked too many questions.”

To help Texas residents steer clear of investment scams, Better Business Bureau
recommends investors follow these guidelines:

Don’t fall for high-pressure or scare tactics. If a ‘trader’ contacts you, they may try to
convince you that you will only get high returns if you immediately invest in the fund. Be
wary of anyone using this type of language if you do not have a working relationship and
are confident they are legitimate. If you’ve already provided an initial investment, they may
threaten you with legal action if you do not pay additional fees. Recognize these signs as a
hallmark of a scam and avoid interacting with anyone who relies on high-pressure or scare
tactics.

Be skeptical of guaranteed returns. No legitimate trader can tell the future, and
unforeseen fluctuations in the market can make even the most stable funds have minimized
returns. Investing comes with an inherent risk, and scammers often try to encourage people
to enter the scene by guaranteeing a specific percentage or value that will be returned on
their investment. These tactics revolve around the get-rich-quick scheme and are another
example of – if it sounds too good to be true, it probably is.

Do your research. Especially when approached by someone unsolicited via social media,
take the time to research their name, business, or group online to see if anyone else has
encountered issues with them before. Check BBB Scam Tracker for consumer reports and
check if their company is listed, or Accredited, with the organization. BBB Accredited
Businesses are required to adhere to the organization’s Standards for Trust to maintain their
status, and one of the major elements of these standards is responsiveness.
Familiarize yourself with investment terms and processes. Consumers looking to
enter the investment scene are encouraged to familiarize themselves with standard
processes, terms, and systems to give them the knowledge they need to recognize
abnormal interactions. While it is unnecessary to become a financial expert, the ability to
speak conversationally about financial terms can help investors identify impostors and find
the right person for their needs.

If you’ve been a target of an investment scam, report your experience to Better Business
Bureau at BBB.org/ScamTracker. Information provided may prevent another person from
falling for these costly schemes.

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