Padre Island Housing Report – September 2020

October 13, 2020 By

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

Filed Under: buying a home, Corpus Christ Real Estate Data, home maintenance, New Homes Padre Island, North Padre Island, Real Time MLS, realtors, selling a home

Padre/Mustang Island Area Development Plan Online

October 9, 2020 By

Welcome to the Padre/Mustang Island Area Development Plan Online Open House!

Click on the Image Below to get involved and have your voice regarding the future plans for our community. This public input to collect all responses will be available until midnight on October 15th, 2020.



Filed Under: BeachWalk Development, chamber of commerce, Corpus Christ Real Estate Data, corpus christi business, Local Schools, mustang island, North Padre Island Marina, Packery Channel, Padre Island Business Association, padre island events, Padre Isles POA

CONSEQUENTIALLY CONTINGENT

September 22, 2020 By

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!

 

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi, Mortgages, New Homes Padre Island, North Padre Island, selling a home

Padre Island Housing Report – August 2020

September 7, 2020 By

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

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi, Mortgages, New Homes Padre Island, North Padre Island, Park Road 22 Proposed Bridge, Real Time MLS, realtors

Home Fire Prevention and Safety Tips

August 22, 2020 By

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. 

Filed Under: chamber of commerce, Charities, Corpus Christ Real Estate Data, home maintenance, Local Food, property taxes, Todd Hunter

Padre Island Housing Report – July 2020

August 8, 2020 By

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

Filed Under: buying a home, Corpus Christ Real Estate Data, mustang island, New Homes Padre Island, North Padre Island, Real Time MLS, selling a home

DECLARATION OF LOCAL DISASTER – Hurricane Hanna

July 25, 2020 By

(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

Filed Under: BeachWalk Development, corpus christi, corpus christi city council, Hurricane Hanna, Hurricane Relief

Real Estate on Padre Island

July 20, 2020 By

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

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi, New Homes Padre Island, Real Time MLS, realtors, selling a home

Padre Island Housing Report – June 2020

July 15, 2020 By

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

Filed Under: buying a home, Corpus Christ Real Estate Data, New Homes Padre Island, property taxes, Real Time MLS, realtors, Upper Padre

BE PREPARED: FORECLOSURE AUCTIONS

July 5, 2020 By

Despite forbearance programs set in place to relieve mortgage tensions during the COVID-19 Pandemic, it’s a commonality that all US economic recessions have in common: An eventual spike in home foreclosures.

But what about those in the fortunate opposing position? A “good deal” is hard to ignore! So if you find yourself interested in raising your paddle, below are some tips and tricks to what foreclosure auctions are all about.

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 nana’s famous carrot cake. These 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 leftover checks back into your bank account. If you win, you simply sign them over.

If, however, you are in an online auction, 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. Do not skip this step!

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 it is usually the assessed 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 creditor’s 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 owner does not vacate the property after the foreclosure sale, as the new owner, YOU 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 on your behalf. Sometimes, auction companies may offer live remote bidding by telephone through an auction representative or have live Internet bidding capabilities. There are options if you are unable to attend an auction.

6. If the auction begins at 10 am, be there at 9:30 am.

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 takes place.

If foreclosures are something that interests you, final words of advice would be: Save your money, do your research, and don’t be late. Happy bidding!

Filed Under: buying a home, Corpus Christ Real Estate Data, Corpus Christi Foreclosures, Mortgages, property taxes, Real Time MLS, realtors
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