PADRE ISLAND HOUSING REPORT – SEPTEMBER 2024

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

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

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

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

Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island Corpus Christi real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

 

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

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

National Domestic Violence Awareness Month

The month of October is recognized as Domestic Violence Awareness Month. According
to the National Research Center on Domestic Violence, 1 in 4 women and 1 in 9 men are
affected by domestic violence. Unfortunately, this means that this is a common problem for
many people. Additionally, it is estimated that annually 20 million people will be abused by their
partner. Therefore, millions of people are in a constant state of fear for their livelihood. As a
result of the alarmingly high statistics, it is important to be educated about domestic violence and
to be aware of the signs to protect those around you from domestic violence.

Domestic Violence Awareness Month is a critical month for the public and survivors of
domestic violence. The purpose of this month is to raise awareness regarding domestic violence.
The Domestic Violence Awareness Project describes domestic violence as “a pattern of abusive
behaviors–including physical, sexual, and psychological attacks as well as economic
coercion–used by one intimate partner against another (adult or adolescent) to gain, maintain, or
regain power and control in the relationship.” Abusers use a wide variety of methods to scare,
terrorize, humiliate, injure, and in some instances kill their partners. Domestic violence is
incredibly dangerous since this can have lasting emotional, psychological, mental, and physical
effects on those being abused by their partners.

In addition to the horrible effects of domestic violence, anyone can be a victim regardless
of gender, race, or age. Due to this, it is important to know the signs of domestic violence. A few
of the signs that someone is being abused are someone telling their partner they never do

anything right, showing jealousy when their partner spends time with friends rather than with
them, insulting or shaming their partner in front of others, and blaming their partner for their
violent behavior. If you believe someone is being abused, reach out to them and inform them of
their options to get help.

For more information about domestic violence and resources to help those being abused,
please visit the National Coalition Against Domestic Violence’s website https://ncadv.org/.
Along with this, the International Rescue Committee is a great source to learn more about the
signs of domestic abuse https://www.rescue.org. Additionally, you can visit the Domestic
Violence Awareness Project to learn more about the importance of Domestic Violence
Awareness Month https://www.dvawareness.org/about-dv. Also, The National Domestic Hotline
is 1.800.787.3244 and is available 24/7.

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

– State Representative Todd Hunter, District 32

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

PADRE ISLAND HOUSING REPORT – AUGUST 2024

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

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

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

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

Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island Corpus Christi real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

 

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

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

Blood Cancer Awareness Month

Each year, September is named as Blood Cancer Awareness Month. This awareness month was initiated
to educate communities and to bring attention to the fight against blood
cancer. According to the Leukemia and Lymphoma Society (LLS), blood cancers are the third
leading cause of cancer death in the U.S. Furthermore, blood cancers are the most common
cancers among children, adolescents, and young adults. For those impacted by blood cancers, as
with many diseases, early detection is often the most important factor in determining treatment
success.

In 2024, it is estimated that 187,740 people would be diagnosed with a blood cancer.
Furthermore, approximately every 3 minutes one person in the U.S. is diagnosed with a blood
cancer. There are many different types of cancers that can affect the bone marrow, the blood
cells, the lymph nodes, and other parts of the lymphatic system, which include leukemia,
lymphoma, myeloma, and myelodysplastic syndromes (MDS). Under these main types of cancer
types there are more specific forms of cancers.

The most common types of blood cancers are leukemia and lymphoma. According to the
American Cancer Society, Leukemia is a cancer of the white blood cells but can start in other
blood cell types. There are several types of leukemia, which are divided based on how fast or
slow they may grow, and where it starts. As for lymphoma, it is a cancer that starts in cells that
are part of the body’s immune system. Due to the different types of leukemia and lymphoma,
there are different treatments for each, which make it important to know which type you may have.

Understanding the importance that early detection is key to treatment success, the Texas
Legislature made improving patient access to treatments a priority. The passage of House Bill
21, in the 85th legislative session, known as the “Right to Try Act”, allowed patients with
terminal illnesses to have increased access to potentially life-saving treatments. In addition to
this bill, the legislature also allocated additional resources towards cancer research and
prevention programs, such as the Cancer Prevention and Research Institute of Texas (CPRIT). In
the 86th legislative session, members passed HB 39, which repealed time limitations on the
award of grants by CPRIT.

To learn more about blood cancer and the significance of this awareness month, please
visit the Leukemia and Lymphoma Society https://www.lls.org/. Additional information about
risk factors and prevention information is also available by visiting the American Cancer Society
https://www.cancer.org/cancer/leukemia.html.

If you would like to review more about the legislature, please visit the Texas Legislature
Online. 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. 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.

PIBA Candidates Forum Announced

PIBA is excited to announce that we will be hosting a candidate forum for the 2024 Corpus
Christi City Council candidates.  All candidates running for Mayor, District 4 and At-Large will be
invited to attend.  Because of the quantity of candidates running, we will have 2 separate
forums: one for Mayor and District 4, and the second for At-Large.

Mayor and District 4 Candidate Forum:
Date: Wednesday, September 18, 2024
Location: The Island Presbyterian Church (14030 Fortuna Bay, 78418)
Time: 6pm – 8pm

At-Large Candidate Forum:
Date: Monday, September 30, 2024
Location: Seashore Learning Center (15801 SPID, 78418)
Time: 6pm – 8pm

All candidates have received a questionnaire covering a variety of personal, City and Island
related topics. Their responses will be published prior to the Forums.
The structure of the Forums will have each candidate begin with opening remarks, then the
Moderator will ask questions, and then closing remarks. Questions for the candidates can be
submitted ahead of time or during the Forum. For efficiency, though, only the Moderator will
pose questions during the Forum.

This will be an excellent opportunity for you to hear directly from the candidates. We highly
encourage everyone to attend or watch the stream. Alex Karis will oversee the stream and we
will send out instructions on how to watch prior to the Forums.

Please note that PIBA will not be endorsing any candidates.  This will be strictly informational.
A few additional points:  the deadline to apply for City Council ended on August 19.  Early voting
runs from October 21 to November 1.  Election Day is November 5.

If you have any questions, feel free to contact either Stan Hulse
bulletin@padreislandbusiness.org or JJ Hart jjhart9869@gmail.com

Flood Preparedness & Safety Tips

Earlier this summer, I shared important information on how to prepare in case of a
hurricane. Today, I would like to revisit that topic in relation to another type of weather
emergency with the potential to affect residents of the Coastal Bend: flooding. Given our
community’s proximity to the Texas coast, many residents may already be aware that flooding
can occur near the water or in other low-lying areas. However, as illustrated by the recent floods
in Houston, flooding is a possibility even in those areas not typically at risk for this type of
weather disaster. With this in mind, I would like to share some of the necessary steps you can
take to ensure your family is safe and prepared in case of a flood.

One of the most important ways to prepare for a weather emergency is by developing a
family disaster response plan. This can be accomplished by first identifying specific flood risk
factors such as geographical location, the structure in which you reside, and personal
circumstances such as medical conditions. Another important component of this disaster
response plan is identifying evacuation strategies in order to prevent confusion and injury in
times of emergency.

In addition to a comprehensive family disaster response plan, another key way to prepare
for a flood is by creating a disaster response kit that includes items such as flashlights, batteries,
telephones, radios, and sufficient tools in case of an emergency. Other important items to
consider are blankets, pillows, seasonal clothing, and special items for infants and the elderly. Be
sure to also include first aid supplies as well as medicines and prescription drugs. Along with
various necessities, this kit should include copies of personal documents such as insurance
information, birth certificates, along with family and emergency contact information. The
American Red Cross also recommends having a three-day supply of nonperishable food and
water on hand in case of a flood.

Protecting your home, car, and other personal property should also include ensuring you
have the right insurance coverage in case of a weather event such as flooding. The National
Flood Insurance is a pre-disaster flood program designed to reduce flood disasters. There is
typically a 30-day waiting period for most insurance policies to go into effect, which is why it is
essential to have the right coverage in place before a weather emergency occurs. You can learn
more about the National Flood Insurance program at https://www.floodsmart.gov .
In the event of inclement weather, those living in areas susceptible to flooding should pay
close attention to local emergency alerts and weather advisories issued by the National Weather
Service. These alerts and advisories are helpful in determining the risk of flooding in your area
and what, if any, action you should take. Typically, there are four key terms used that help to
indicate your risk level:

 Flood Watch: Flooding is possible due to the weather conditions in the area. Monitor
radio and television stations for more information.
 Flash Flood Watch: Flash flooding is possible. Be prepared to move to higher ground.
Monitor radio and television stations for more information.
 Flood Warning: Imminent threat of flooding in the area. If advised to evacuate, do so
immediately.
 Flash Flood Warning: A flash flood is occurring or will occur soon. Seek higher
ground on foot immediately.

When flooding occurs in your area, it is important to remember to always avoid walking or
driving through floodwaters when possible. It only takes six inches of moving water to affect the
ability to walk and two feet of water to sweep a vehicle away. Information regarding evacuation
routes and travel safety during a storm is available by calling the Statewide Road Conditions
hotline at 1-800-452-9292 or by visiting DriveTexas at https://drivetexas.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.

PADRE ISLAND HOUSING REPORT – JULY 2024

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

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

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

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

Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island Corpus Christi real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

 

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

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

Reduced Mortgage Rates Aren’t Enticing Buyers

Though there have been only modest increases in house buying activity, borrowing costs have dropped to their lowest point in over a year.Although mortgage rates have dropped recently, prospective homeowners are exercising caution rather than jumping back into the market to take advantage of the lower rates. According to Freddie Mac, the 30-year fixed-rate mortgage’s average rate this week was 6.47%.

The number of mortgage applications for home purchases is still notably lower, despite the fact that mortgage rates are at their lowest point in over a year. According to the Mortgage Bankers Association, applications rose by just 1% last week and are still 11% lower than they were a year ago.

Joel Kan, the MBA’s deputy chief economist, states that “despite the downward movement in rates, purchase activity only saw small gains, with an increase in conventional purchase applications offset by decreases in government purchase applications.” “In certain regions of the country, the inventory of homes for sale is starting to rise gradually, and potential reductions in interest rates may be delaying the entry of buyers into the market.”

Those who are purchasing a home are saving money, especially as compared to last autumn when the average mortgage rate was significantly higher. For instance, assuming a 20% down payment on a $400,000 property, a monthly mortgage payment at this week’s 6.47% average would equal almost $2,016, according to Jessica Lautz, deputy chief economist at the National Association of REALTORS®. However when interest rates reached a record high of 7.79% in October 2023, the monthly mortgage payment was $3,420. According to Lautz, that is almost $285 more per month than the prices as of this week.

She continues, “Weekly mortgage rates are at their lowest level since May 2023.” The largest drop in mortgage interest rates in a single week has occurred in the last nine months. Those who refrained from purchasing a home while waiting for interest rates to drop: those rates have now dropped.

According to senior economist Sam Khater of Freddie Mac, the drop in mortgage rates should start to entice potential homebuyers and “pique their interest in making a move.” Furthermore, some current homeowners are already taking advantage of the opportunity to refinance thanks to the rate cut; the market share of mortgage applications for refinancing has reached nearly 42%, the largest since March 2022.

Article created from NAR

Padre Island – Corpus Christi Update July 2024

Padre Island is undertaking an inspiring journey,
harmoniously integrating development with conservation
to preserve the essence of our Island.

I am delighted to share a significant development
regarding our cherished Packery Channel and the Michael
J. Ellis Seawall. This summer, we are set to embark on a
transformative project that will see sand moved southward
to expand and enrich the beach along the Michael J. Ellis
Seawall. There is now a secured permit from the Corps of
Engineers that allows for the sand to be moved laterally
along the beach. This initiative comes after careful
planning and coordination. Previously, we were limited to
pushing sand from the dune line out to the mean high tide
line. This restriction led to the natural buildup of sand on
the north side of Packery Channel, where the beach
widens due to the prevailing currents depositing sand at
the jetty.

To address this, starting in September, the careful process
of transporting the sand by truck from its current location
to Ellis Beach will begin. This strategic move will not only
enhance our beach’s aesthetic appeal but also bolster its
useability and resilience against natural forces.

Additionally, I am pleased to announce that funds have
been approved to improve Commodore Park. There has
been an allocated $400,000 to develop detailed designs
for various parts of the park, including phases 1A, 1B, and
2, as well as the Community Center. Initial concepts for a
new skatepark will also be created. This funding still needs
the approval from Council but marks a promising step
towards enhancing our community spaces.
We are committed to ensuring that our beaches and parks
remain beautiful, welcoming spaces for all to enjoy. Thank
you for your patience and support as we undertake these
important endeavors to improve our coastline and the
Island community.
We are also making great strides in improving our Island’s
infrastructure. The City has recently completed work on
Tesoro, Captain Kidd, and Blackbeard streets. Currently,
our city crews are working on Barataria and will soon start
on Coral Vine, Jessamine, Allamanda, Tamarisk,
Seagrape, and Broomsedge. The estimated value of the
streets improvements on the Island performed by in house
city crews is $1.9 million. These upgrades are essential for
ensuring safe and accessible roads for all residents and
visitors.
The City of Corpus Christi is looking for your opinion
through a public survey to help identify potential uses for
existing sales tax money. The survey is set to close on
Sunday, June 23. Your valuable feedback will help shape
our great City. For more information about the Type A

Sales Tax Reauthorization and to participate in the survey,
visit
www.cctexas.com/sales-tax-reauthorization.

As always, I express my appreciation for your steadfast
support and commitment. My door is always open to hear
your voice and concerns. Feel free to reach out at 361-
826-3100 or by email at paulette.guajardo@cctexas.com.

PADRE ISLAND HOUSING REPORT – JUNE 2024

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

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

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

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

Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island Corpus Christi real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

 

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

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