North Padre Island Housing Report – June 2019

July 22, 2019 By

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

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

REAL ESTATE TRENDS IN 2019

July 6, 2019 By

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!

Filed Under: buying a home, Corpus Christ Real Estate Data, Mortgages, North Padre Island, property taxes, Real Time MLS, realtors, selling a home

US Transportation Infrastructure Maintenance Plan

June 24, 2019 By

In response to an invitation from the US Chamber of Commerce for a plan to fund the maintenance of US roads, waterways and airports, I submitted the following plan;

In a free market economy such as the US economy, the fairest and most economically efficient method to fund infrastructure maintenance is a user fee paid by the businesses and individuals who use and benefit directly from the infrastructure facilities.  Those who benefit, should pay.

The US Society of Civil Engineers recently conducted a survey of the “catch up” costs to bring US infrastructure up to good condition.  That survey included roads, bridges, inland navigable waterways and airports.

The fairest and most efficient funding source for roads and bridges is to increase the existing federal vehicle fuel tax.  There are road “wear and tear” factors for each type of vehicle based on vehicle weight.  For example, an 18-wheel semi-truck and trailer factor is 9,000 times that of a car, van or SUV and the factor for a bobtail truck is 3,000 times.  The fuel tax on truck diesel and passenger car gasoline should be prorated based on those factors to ensure that freight trucks and passenger cars pay their fair share based on the “wear and tear” they cause.  Trucking companies will pass the fuel tax through to their customers in their freight rate.  The fuel tax would have the additional benefit of providing economic incentives for more fuel-efficient vehicles.

The fairest and most efficient funding source for navigable inland waterways is either a ton-mile tax or a marine diesel fuel tax on the vessel operators.  The choice between a “ton-mile” tax or a marine diesel tax should be based on which is easier and more efficient to administer.  The inland vessel operators will pass either tax through to their customers in their freight rates.

Both the road fuel tax and inland waterway tax should be dedicated by Congressional statue to infrastructure maintenance only.  Both user taxes should be based on the US Society of Civil Engineer survey cost for “catch up” maintenance to be completed efficiently.  After that period, both taxes should be reduced to a level required for long term maintenance.

The fairest, most economical funding source for airports is a gate tax on the airlines that use the airports.  The airlines will pass the tax through to their customers in ticket prices.

The US Chamber recently proposed that Congress increase the existing 18.4 cents per gallon fuel tax by another 25 cents.  Perhaps, my plan had some influence with the US Chamber.

Ralph Coker

Bio:  Ralph Coker is a retired petroleum Refinery plant manager.  He writes on business, economic, military and political topics

Filed Under: chamber of commerce, corpus christi business, corpus christi city council, Harbor Bridge

Save and Spend Smartly

June 12, 2019 By

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!

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

Did You Know…

April 23, 2019 By

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.

 

Filed Under: Charities, Corpus Christ Real Estate Data, Hurricane Relief, New Homes Padre Island

Tax Time 2019

April 15, 2019 By

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.
Filed Under: North Padre Island, property taxes, realtors, Retail Tax, selling a home, spring cleaning

North Padre Island Housing Report – March 2019

April 6, 2019 By

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

Filed Under: BeachWalk Development, buying a home, Corpus Christ Real Estate Data, mustang island, New Homes Padre Island, North Padre Island, realtors, selling a home, Upper Padre, Upper Padre Island

North Padre Housing Report – February 2019

March 9, 2019 By

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

Filed Under: buying a home, Corpus Christ Real Estate Data, New Homes Padre Island, North Padre Island, Upper Padre, Upper Padre Island

North Padre Island Housing Report – January 2019

February 23, 2019 By

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

Filed Under: Corpus Christ Real Estate Data, corpus christi, New Homes Padre Island, North Padre Island, realtors

Barefoot Mardi Gras 2019

February 10, 2019 By

 

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

Filed Under: Charities, corpus christi, Holiday Parties, Local Food, North Padre Island, Padre Island Business Association
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