BBB Scam Alert: Investment Scams Cost Texas Residents

April 2, 2024 By

Within the first two months of 2024, 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 2023 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 2024
“[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 2024
“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 2024
“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.

Filed Under: Better Business Bureau, chamber of commerce, corpus christi jobs, cybersecurity, Hurricane Aide, Hurricane Hanna, Investment Property, selling a home, Todd Hunter

Flourishing Trends: Texas Real Estate Market Soars in February 2024

March 24, 2024 By

Flourishing Trends: Texas Real Estate Market Soars in February 2024

As February 2024 comes to a close, the Texas real estate market stands as a beacon of resilience and prosperity, reflecting a landscape marked by vibrant growth and promising opportunities. Amidst a backdrop of economic stability and burgeoning industries, the Lone Star State continues to attract investors, homeowners, and businesses alike, cementing its position as a powerhouse in the realm of real estate.

The consistent rise in property values across a range of market groups is one of the most notable aspects of the current situation. Demand for residential properties, from luxury estates to single-family houses, has significantly increased, pushing prices to all-time highs. This surge can be attributed to several factors, including a robust economy, favorable interest rates, and a steady influx of individuals relocating to Texas in pursuit of job opportunities and a high quality of life.

The real estate market has seen unparalleled activity in major metropolises like Austin, Dallas, and Houston, with sales volumes at previously unheard-of heights. Competitive bidding battles and quick transactions have resulted from the increased demand for residential properties caused by the attractiveness of living in an urban setting combined with a booming job market. Because of these advantageous circumstances, sellers frequently receive many offers over asking price, and buyers are encouraged to move quickly to secure their ideal houses in this fast-paced market.

Texas’s commercial real estate market is likewise seeing a boom, with renters and investors showing a keen interest in office buildings, retail stores, and industrial sites. The demand for commercial real estate assets has increased as a result of the state’s diversified economy, which is highlighted by strong industries like manufacturing, energy, technology, and healthcare. The increasing demand for office spaces and commercial properties in Texas is a result of corporations looking to establish or extend their presence in the state, offering developers and investors attractive prospects.

In addition, the Texas real estate industry is seeing a rebirth in terms of sustainability and creativity. Developers are responding to the changing tastes of contemporary consumers by integrating energy-efficient features and green building concepts into their projects, with an increasing focus on eco-friendly practices and smart technologies. Texas is leading the way in adopting environmentally friendly real estate techniques, with mixed-use complexes featuring sustainable design components and residential communities certified by LEED, thereby creating new benchmarks for the sector.

Looking ahead, the outlook for the Texas real estate market remains exceedingly optimistic, buoyed by favorable economic fundamentals and a steadfast commitment to innovation. While challenges may arise, such as fluctuations in interest rates or geopolitical uncertainties, the underlying strength of the state’s economy and its enduring appeal as a destination for homeowners and businesses will continue to drive growth and prosperity in the real estate sector.

In conclusion, February 2024 paints a picture of a thriving and dynamic real estate market in Texas, characterized by robust demand, rising property values, and a commitment to innovation and sustainability. As the state continues to chart a course towards prosperity, investors, homeowners, and businesses alike can find ample opportunities to thrive in this vibrant landscape.

Filed Under: buying a home, home maintenance, Investment Property, Mortgages, New Homes Padre Island, North Padre Real Estate, property taxes, realtors, selling a home, spring cleaning, Whitecap Development Project

NORTH PADRE ISLAND HOUSING REPORT – FEBRUARY 2024

March 12, 2024 By

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

Our active listing median prices have dipped the past month to $403,700 this past month which is an 1.6% decrease from where it was compared to last Febuary at this time! CCAR shows us the data that is increasing for active listings by 82.3% with a total of 257 properties this past month while inventory Has risen at 8.6 compared to 2.8 last year at this time.

Days on the market for sale increased this past month with an average of 86 days and the highest categories for sales with 40.0% of all the sales being priced between $300,000 – $399,999. The market is still staying solid so far into 2024 with properties available across many pricing areas. North 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

We learned this morning that inflation as measured by the Consumer Price Index was 0.4 percent in February and 3.2 percent over the past year. Core inflation, which leaves out volatile food and energy prices in order to better parse inflation’s underlying trend, was also 0.4 percent over the month and 3.8 percent over the last year.

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!

 

North Padre Island Febraury 2024 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-december-2023

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi business, Corpus Christi Foreclosures, home maintenance, Investment Property, Mortgages, New Homes Padre Island, North Padre Island, North Padre Real Estate, property taxes, Real Time MLS, realtors, selling a home, spring cleaning, Whitecap Development Project

BBB Tip: Recovering from freezing temperatures while avoiding

February 26, 2024 By

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

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

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

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

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

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

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

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

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

Filed Under: Better Business Bureau, Breast Cancer, Charities, corpus christi jobs, cybersecurity, hispanic chamber of commerce, Hurricane Relief, Investment Property, Scam Alert, spring cleaning, windstorm insurance

NORTH PADRE ISLAND HOUSING REPORT – JANUARY 2024

February 15, 2024 By

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

Our active listing median prices have dipped the past month to $356,000 this past month which is an 8.5% decrease from where it was compared to last January at this time! CCAR shows us the data that is increasing for active listings by 77.9% with a total of 233 properties this past month while inventory Has risen at 7.5 compared to 2.5 last year at this time.

Days on the market for sale increased this past month with an average of 84 days and the highest categories for sales with 31.3% of all the sales being priced between $300,000 – $399,999. The market is still holding quite well moving into 2024 with properties available across many pricing areas. North 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 2.9% on a year-over-year basis in January, following a 3.4% gain in December. The largest contributor to headline deceleration was lower year-over-year prices for gasoline in January (-4.0%) compared with December (+1.4%)

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!

 

North Padre Island November 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-december-2023

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi, corpus christi business, Investment Property, Mortgages, Padre Island Business Association, property taxes, Real Time MLS, realtors, rentals, selling a home, Whitecap NPI

NORTH PADRE ISLAND HOUSING REPORT – NOVEMBER 2023

December 24, 2023 By

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for November 2023.

Our active listing median prices have stayed steady the past month to $400,000 this past month which is a 8.6% increase from where it was compared to last November at this time! CCAR shows us the data that is increasing for active listings by 70.2% with a total of 240 properties this past month while inventory Has risen at 7.3 compared to 2.6 last year at this time.

Days on the market for sale decreased this past month with an average of 42 days and the highest categories for sales with 42.9% of all the sales being priced between $300,000 – $399,999. The market is still quite stable moving into 2024 with properties available across many pricing areas. North 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 for All Urban Consumers (CPI-U) increased 0.1 percent in November on a seasonally adjusted basis, after being unchanged in October, the U.S. Bureau of Labor Statistics
reported today. Over the last 12 months, the all items index increased 3.1 percent before seasonal adjustment.

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!

 

North Padre Island November 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-october-2023

Filed Under: Better Business Bureau, Corpus Christ Real Estate Data, Investment Property, North Padre Real Estate, property taxes, Real Time MLS, realtors, selling a home, Whitecap NPI

BBB Tip: Avoiding online purchase scams and impostors this holiday season

December 3, 2023 By

As the holiday season approaches, Better Business Bureau (BBB) urges consumers to
remain vigilant against a surge in online scams that could threaten their festive spirit.
During the past five years, Texas residents have reported losing $17.5 million to scams,
21% due to online purchases. BBB has identified online purchase scams as the No. 1 riskiest
scam encountered by North American consumers in both the 2021 and 2022 Scam Tracker
Risk Report, and are often enacted by impersonating reputable businesses.

Since 2018, losses to online purchase scams reported to BBB by Texas residents have
significantly increased during two times of the year – early spring and the holiday season – while the number of reports
peaks during the summer months. Often, a sense of urgency and the fear of missing out on a great deal
for a highly desired product are key influences if an online shopper loses money to a fraudulent seller. The holiday
season is a busy time for most people as they purchase gifts, make travel plans, prepare
holiday dinners, and get their homes ready for family and friends. In many cases, shoppers
do not have the time to verify the legitimacy of an online seller as thoroughly as they
typically do at other times of the year, and the existence of Black Friday, Cyber Monday, and
other holiday promotions introduce difficulties in determining when a deal is “too good to
be true.”

“It is important for online shoppers to protect themselves while interacting with digital
marketplaces throughout the year, but especially during the holiday season when scammers
are out in force to take advantage of shoppers,” said Heather Massey, vice president of
communications and community relations for Better Business Bureau serving the Heart of
Texas.
No matter the scheme, a key tactic of scammers is to disguise themselves as a reputable
business or government agency (known as an impostor scam), and this strategy is more
successful during the holiday season. Impostor scams have been identified as the No. 1
most reported fraud to the FTC’s Consumer Sentinel Network since 2017, with a median
loss of $1,000 in recent years. BBB’s 2022 Scam Tracker Risk Report found some of
the most commonly impersonated companies include Amazon, Geek Squad, Publishers
Clearing House, and the U.S. Postal Service. With more people ordering products online and
expecting deliveries, fraudulent notifications about shipping issues or suspicious activity on
an account from an impostor have a greater likelihood of being taken seriously, which often
means a greater chance of losing money or personal information.

With $1.2 million reported lost across nearly 1,400 reports, the impact of online purchase scams on
Texas residents this year has already broken 5- year records, and the holiday season will likely
see these numbers increase. While BBB is concerned about these record-breaking numbers, they do not
reflect the emotional, physical, and mental stress associated with falling victim to a scam, nor the
long-lasting effects it has on an individual’s confidence to navigate a complex marketplace without
being taken advantage of.

“Our goal is to empower consumers to recognize the signs of a scam and to give them the
confidence to trust themselves when something doesn’t feel right,” said Massey. “Research
conducted by BBB found that nearly 75% of people who encountered a scam but did not
lose money simply felt something wasn’t right about the situation, so they walked away. The
next two most powerful defenses are to be generally aware of scam tactics and to research
the offer.”
This holiday season, BBB provides the following tips to help Texas residents avoid online
scams, impostors, and counterfeit items:
Use protected payment methods. BBB research found that people who pay with a credit
card or PayPal are more likely to recover their funds after sending money to a scammer.
However, with PayPal, a buyer should not send money using the platform’s Friends and
Family method. If an online seller directs you to use PayPal’s Friends and Family method, it
is most likely a scam because they know PayPal’s protection policies do not cover money
sent through that system in the same way as a business transaction.

Be wary of social media ads. Social media is a great way to stay connected with friends
and family, and it is also a great way to get exposed to a lot of different products that
appeal to you. However, not everything advertised on a social media platform is legitimate,
and scammers can easily create sponsored advertisements that will appear on your news
feed. If interacting with a social media ad, take a minute to verify it has routed you to the
right website. Better yet, go directly to the website on your own and search for the
advertised product.

Avoid links provided in unsolicited emails or text messages. If you receive an
unsolicited text message with a link, avoid following it. In many cases, there is no way of
knowing where that link will direct you, and even if you arrive at a website that appears to
look official, it could very well be a lookalike website. It may automatically download
malware on your device. If you receive a notification regarding suspicious activity on an
online account, verify the facts by contacting the company using a known and trusted
method, such as their official mobile app or the contact number on a recent bill.

Review protection policies. Become familiar with the protection policies established by
the agency or company you are being contacted by. Many companies and government
agencies prohibit their official representatives from asking you to verify personal or account
information over the phone or through email. If you ever have doubts about someone’s
legitimacy, it is best to hang up and contact the company through another method to
double-check that everything is in order.

Verify you are at the right website. Pay close attention to see if any special characters
are replacing letters, such as the Greek alpha (α) instead of ‘a’, and the domain and
subdomain match the official company website. While looking through the URL, take a
second to verify the website is secured. Poor grammar is also a good indication that a
scammer may have put together a website hastily. However, this is something that they are
getting better at avoiding, due in large part to AI content creation tools. Check the age of
the domain – a well-known company isn’t likely to have just registered their website in the
past few years.

For more information about how to avoid holiday-related marketplace issues this year,
visit BBB.org/Holiday.
If you or someone you know has been affected by a scam or unethical business practice,
report it to BBB through an official business complaint or Scam Tracker report. Information
provided may help another person from being affected and assist BBB in recognizing trends
in marketplace behavior.

Filed Under: Better Business Bureau, buying a home, chamber of commerce, corpus christi business, corpus christi jobs, cybersecurity, Holiday Parties, Investment Property, Mortgages, North Padre Real Estate, padre island events, selling a home, Water Exchange Bridge, Whitecap Development Project

NORTH PADRE ISLAND HOUSING REPORT – OCTOBER 2023

November 13, 2023 By

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for October 2023.

Our active listing median prices have risen the past month to $450,000 this past month which is a 9.8% increase from where it was compared to last October at this time! CCAR shows us the data that is increasing for active listings by 60.8% with a total of 246 properties this past month while inventory Has risen at 7.2 compared to 2.8 last year during the month of October.

Days on the market for sale increased this past month with an average of 72 days and the highest categories for sales with 33.3 % of all the sales being priced between $300,000 – $399,999. The market is still quite stable moving into our short winter with properties available across many pricing areas. North 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 October 2023 is 3.3%. If 3.3% is the actual year-over-year increase in the CPI, it will mark the first decline in the consumer price index relative to the previous month since June 2023. This begins to show that inflation may be softening a bit as we head into the end of 2023.

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!

 

North Padre Island October 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-october-2023

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi jobs, Corpus Christi Schools, home maintenance, Investment Property, Mortgages, New Homes Padre Island, North Padre Island, North Padre Real Estate, Real Time MLS, realtors, selling a home, Whitecap Development Project, Whitecap NPI

National Epilepsy Awareness Month

November 2, 2023 By

The month of November is recognized as National Epilepsy Awareness Month.
According to the Epilepsy Foundation, 1 in 26 people will develop epilepsy in their lifetime. In
addition to this, 3.4 million Americans currently live with epilepsy. This means that epilepsy is
not rare and is actually more common than most people think. Since millions of Americans live
with epilepsy, it is important to understand the disease and how it affects people. National
Epilepsy Month is important because it is a time dedicated to learning about epilepsy and raising
awareness about the disease.

Epilepsy is a neurological condition in the brain that triggers seizures. As stated by the
Epilepsy Foundation, “doctors believe that seizures happen when a brain’s uncontrolled increase
of excess electrical activity obstructs its normal functions.” This means that a seizure causes a
short interruption to messages traveling back and forth within the brain. There are two types of
seizures. The first type of seizures are generalized seizures which affect both sides of the brain.
The other type of seizures are focal seizures which are located in just one area of the brain and
are also called partial seizures. A few symptoms of seizures are: temporary confusion, a staring
spell, stiff muscles, uncontrollable jerking movements of the arms and legs, loss of
consciousness or awareness, psychological symptoms such as fear, and anxiety or deja vu. Once
a person has had two seizures, they are diagnosed with epilepsy.
Epilepsy has no identifiable cause in about half the people with the condition. In the other
half, the condition may be traced to various factors, including: genetic influence, head trauma,

brain abnormalities, infections, prenatal injury, and developmental disorders such as autism.
Even though there is no distinguishable cause of epilepsy, there are a few risk factors for
someone to develop epilepsy. A few of the risk factors are: age, family history, head injuries,
stroke and other vascular diseases, dementia, brain infections, and seizures in childhood.
For more information about epilepsy, please visit the Epilepsy Foundation’s website
https://www.epilepsy.com/make-difference/public-awareness. Along with this, the CDC is a
fantastic resource to learn more about the risk factors and types of seizures associated with
epilepsy https://www.cdc.gov/epilepsy/index.html. Additionally, you can visit John Hopkins
Medicine to learn about the treatment options for epilepsy https://www.hopkinsmedicine.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 part of Nueces County. He can be contacted at
todd.hunter@house.texas.gov or at 512-463-0672.

Filed Under: Better Business Bureau, Breast Cancer, chamber of commerce, Charities, Corpus Christ Real Estate Data, corpus christi business, corpus christi city council, cybersecurity, Eagle Ford Shale, home maintenance, Hurricane Relief, Investment Property, North Padre Island, Padre Island Business Association, Park Road 22 Proposed Bridge, property taxes, Retail Tax, Scam Alert, Todd Hunter

TEXAS HOUSING REPORT – AUGUST 2023

October 19, 2023 By

The residential real estate market in Texas had a successful month in August. Total home sales increased by 9.5 percent on the consumer side and construction permits increased by 5.3 percent on the supplier side despite continuously high loan rates. After seven straight increases, the median price fell amid the growth for the first time. Although the price decline appeared significant, it was just $800 and might be an indication of a balanced market. The housing market does not indicate any big turbulence anytime soon because many sellers are trapped with pandemic-era low rates and many purchasers are finding it difficult to keep up with rising costs. Rebounded Home Sales Speed up Market Time by Two Days Amid a slowdown in the real estate industry, Texas’ total home sales improved from last month’s
three-year low after reaching over 27,000 transactions in August. The sales activity picked up at an impressive rate of 9.5 percent month-over-month (MOM), albeit the activity level was still 8 percent lower than last year’s reading. Sales ticked up uniformly this month in all four major metros, growing between 0.8 percent to 9.7 percent.

READ FULL REPORT HERE FROM TEXAS A&M UNIVERSITY (CLICK HERE)

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi, Investment Property, Mortgages, New Homes Padre Island, North Padre Real Estate, realtors, rentals, selling a home, Whitecap NPI

NORTH PADRE ISLAND HOUSING REPORT – SEPTEMBER 2023

October 12, 2023 By

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for September 2023.

Our active listing median prices slightly dipped the past month to $389,500 this past month which is a 4.5% decrease from where it was compared to last September at this time! CCAR shows us the data that is rising for active listings by 65% with a total of 236 properties this past month while inventory Has risen at 6.6 compared to 2.6 last year during the month of September.

Days on the market for sale dipped this past month with an average of 51 days and the highest categories for sales with 34.6 % of all the sales being priced between $300,000 – $399,999. The market is stable moving into fall with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI has started 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) showed inflation rose 0.4% over last month and 3.7% over the prior year on a headline basis in September, a deceleration from August’s 0.6% month-over-month increase and in line with August’s 3.7% annual rise. Both measures were slightly higher than economist forecasts for a 0.3% month-over-month increase and a 3.6% annual increase, according to data from Bloomberg.

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!

 

North Padre Island September 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-september-2023

Filed Under: buying a home, Corpus Christ Real Estate Data, Investment Property, mustang island, New Homes Padre Island, North Padre Island, North Padre Real Estate, property taxes, Real Time MLS, realtors, selling a home, Water Exchange Bridge, Whitecap Development Project

NORTH PADRE ISLAND HOUSING REPORT – JULY 2023

August 18, 2023 By

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for July 2023. Our active listing median prices rose the past month to $425,000 this past month which is a 17.6% increase from where it was compared to last July at this time!
CCAR shows us the data that significantly rising for active listings by 44.5% with a total of 2224 properties this past month while inventory Has risen at 5.5 compared to 2.8 last year during the month of July.

Days on the market for sale are declining from last month with an average of 47 days and the highest categories for sales with 31.0% of all the sales being priced between $500,000 – $749,999. The market is moving forward nicely this summer with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is set up to start sales of their lots in Phase 1, If you haven’t visited their trailer yet be sure to contact us so that we can get you a priority visit with them.

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in July on a seasonally adjusted basis, the same increase as in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment.

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!

 

North Padre Island July 2023 Data (Click Pic below for Larger Image)

north-padre-island-housing-report-july-2023

Filed Under: buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, New Homes Padre Island, North Padre Island, North Padre Real Estate, realtors, selling a home, Whitecap Development Project, Whitecap NPI Tagged With: ,

BBB Tip: Maintaining and servicing your HVAC System

August 3, 2023 By

Texas residents are no strangers to triple-digit temperatures during the summer months and
understand the importance of keeping cool during heatwaves. However, when the heat
arrives in force, many residents learn their current air conditioning systems cannot keep up
with demand. When indoor temperatures reach unbearable levels, consumers turn to
reputable HVAC contractors to help service their system or install a new one. Similarly to
hiring any other contractor to work on your home, Better Business Bureau (BBB) reminds
consumers to research a chosen company before providing payment or signing a contract.

Purchasing and installing a new HVAC system

HVAC systems are one of the most significant energy consumers in a typical home, making
it important to ensure they work as efficiently as possible. Although the average HVAC
system should last 10-25 years, many must be replaced sooner if they have been
overworked by insufficient insulation and unsealed air leaks. Like other major household
appliances, the cost of an HVAC system includes three elements – the purchase price, the
cost of repairs and maintenance, and the cost to operate it.

Before purchasing a new unit, conduct an energy audit to help you detect energy waste,
gauge the efficiency of your current system, and determine if conditioned air is moving
correctly. Many utility companies offer free or low-cost energy audits, but you can hire a
specialist to do a more comprehensive audit. Hiring a specialist will most likely cost more
money, but their experience is often invaluable when purchasing new systems.

Take steps to weatherize your home to keep cold air in and hot air out, or vice versa in the
winter. Check the caulking, weather stripping around doors and windows, and wall and
ceiling insulation. Weatherizing your home may be all you need to help your air conditioning
unit maintain a cool temperature indoors and will help reduce energy demands. An
adequately weatherized home may also enable you to install a smaller, less expensive
system to achieve the same results.

Consider energy efficiency from the start of your decision-making process. All air
conditioning units must meet minimum energy efficiency standards set by the Department
of Energy, but many products exceed the standard resulting in less energy used to operate
and run the system. Check if your energy provider offers a cash rebate or tax break for
buying and using energy-efficient products and consider it when comparing the operating
costs of different systems.

After installing your new system, the contractor should provide at least one call-back service
free of charge to check it is operating correctly. Double-check that this service is included in
the written agreement. Many contractors also offer service contracts which often contain a
limited number of service calls per year and emergency repair service. If you decide to
participate in a service contract, be sure that it describes what parts and services are
provided. Compare the service contract with the manufacturer's warranty so you aren't
simply duplicating the coverage you already have.
 
HVAC maintenance and repair tips 

Keeping your system well-maintained will prolong its life and save you money. Spring or
early summer is the best time for servicing cooling systems, while summer or fall are the
ideal times for servicing your furnace. You can also do routine maintenance by replacing
disposable filters or cleaning permanent ones. Before calling an HVAC contractor, check your

system’s model and spend the time to understand the license and insurance requirements
for contractors. Find more information about licensing requirements and verify your
contractor has a valid license, as recognized by the Texas Department of Licensing and
Regulation, by searching the contractor’s name or license number at TDLR.Texas.gov.
Contractors that do not readily provide this information should be treated with caution.

If you need repairs, be sure to get multiple written estimates for the job. BBB recommends
obtaining an estimate from a minimum of three contractors before settling on a final
decision to help understand the standard price for the project and have an informed
discussion with a chosen contractor. Estimates should include a complete description of
additional work required to install or repair a system, including installing ducts, registers,
electric wiring, and any other work needed.

Find a trusted HVAC contractor near you at BBB.org and review more home maintenance
tips at BBB.org/HomeHQ.

Filed Under: Better Business Bureau, buying a home, home maintenance, Hurricane Relief, Investment Property, property taxes, Real Time MLS, rentals, Restaurants, Retail Tax, Scam Alert, Water Exchange Bridge, Whitecap Development Project

Home Sales Declining While Prices Soar to Record Highs

July 21, 2023 By

As the housing market struggles with a severe inventory constraint, existing-home sales continued to decline in June, while home buyers push up prices showing significant demand.

The most recent housing data from the National Association of REALTORS® shows that the median sale price of an existing property in June was $410,200, the second-highest amount ever seen in the previous 24 years. According to NAR data, the record high of $413,800 was achieved a year ago. According to Lawrence Yun, the chief economist for the NAR, home sales decreased in June, while home prices remained stable across most of the nation. “Limited supply continues to encourage multiple offers, with one-third of homes selling for more than the asking price.”

Homes are moving quickly off the market: According to NAR data, 76% of houses that were sold in June were available for less than a month. There were only the market for an average of 18 days.

Despite Obstacles, Buyers Are Confident

The majority of Americans still seem eager to buy a home despite high home prices, high mortgage rates, and a lack of housing options. The most recent Mortgage Service Index from TD Bank shows that 54% of consumers believe that the moment is right to make a purchase. However, the survey also reveals that home buyers are anxious, listing inventories and mortgage rates as two of their top stresses.

The scarcity of available properties is an issue for prospective buyers of real estate: At 1.08 million units, the total housing inventory at the end of June remained historically low. According to data from NAR, inventory is down 13.6% from a year earlier. Yun claims that there aren’t enough houses available for purchase. “A doubling of inventory can be easily absorbed by the market.”

However, recent data from the Census Bureau reveal that new home construction was down last month and isn’t making up the difference. Following four consecutive months of growth, production of single-family homes fell by 7% annually in June. The National Association of Home Builders attributed a decline in homebuilding activity and worsening affordability conditions for purchasers to higher construction costs and rising mortgage rates.

Regional Breakdown

Sales varied across the country last month, with the Northeast posting gains, the Midwest holding steady, and the South and West reporting decreasing sales, NAR’s report shows. All four regions recorded year-over-year sales declines.

  • Northeast: Existing-home sales rose 2% month over month to an annual rate of 510,000 but are down 21.5% from a year ago. Median price: $475,300, up 4.9% from the prior year.
  • Midwest: Sales were unchanged from a month ago at an annual rate of 990,000, falling 19.5% from one year ago. Median price: $311,800, up 2.1% from June 2022.
  • South: Sales decreased 5.4% from May to an annual rate of 1.91 million, a decrease of 16.2% compared to the previous year. Median price: $366,600, down 1.2% from a year ago.
  • West: Sales fell 5.1% from the previous month to an annual rate of 750,000, down 22.7% from a year ago. Median price: $606,500, down 3.4% from June 2022.

Data sourced from NAR

Filed Under: BeachWalk Development, Better Business Bureau, home maintenance, Investment Property, New Homes Padre Island, North Padre Island, North Padre Island Marina, North Padre Real Estate, Real Time MLS, selling a home, Whitecap NPI Tagged With:

National Post Traumatic Stress Disorder Awareness Month

June 23, 2023 By

Each year, the month of June is designated as National Post-traumatic Stress Disorder
(PTSD) Awareness Month. This awareness month began as a way to educate communities about
PTSD and provide support and resources to those individuals living with this condition. PTSD is
a psychiatric disorder that can occur following the experience or witnessing of a life-threatening
event such as military combat, natural disasters, terrorist incidents, or serious accidents. People
who suffer from PTSD often relive the experience through nightmares and flashbacks, have
difficulty sleeping, and feel detached or estranged. These symptoms can be severe and can last
long enough to significantly impair the person’s daily life. An estimated 6 percent of Americans
will experience PTSD at some point in their lives. According to the U.S. Department of Veteran
Affairs, around 4% of men will develop PTSD while 8% of women will develop PTSD which
means women are twice as likely as men to have PTSD.

It is important to recognize that PTSD can affect people from all walks of life and all age
groups. However, our military personnel are disproportionately affected due to their exposure to
potentially traumatic events during combat. Consequently, the US Veterans Administration (VA)
created the National Center for PTSD to advance the clinical care and social welfare of
America’s Veterans and others who have experienced trauma, or who suffer from PTSD, through
research, education, and training in the science, diagnosis, and treatment of PTSD and stress-related disorders.

For more information on the VA’s PTSD Center, you can visit
https://www.ptsd.va.gov/index.asp.

Another great organization that provides support to our Veterans is the PTSD Foundation
of America. This non-profit organization is dedicated to mentoring combat veterans and their
families with post-traumatic stress. An important resource they provide is Camp Hope: Interim
Housing for Veterans. Camp Hope opened in 2012 and is in Houston, TX. In addition to
temporary housing, Camp Hope offers a 90+ day PTSD recovery program in which residents:
attend group lessons and support sessions with other combat veterans; conduct individual
mentoring sessions with certified combat trauma mentors; participate in off-site small group
interaction activities (fishing, hiking, local activities and events); and get involved with local
churches, businesses and volunteer organizations to assist in their personal healing and educating
the community on the invisible wounds of war. To learn more about this great program, you can
visit https://ptsdusa.org/camp-hope/

It is important to raise awareness for everyone with PTSD to know the treatment options.
We can make a difference in the lives of everyone who has experienced trauma. There is a
Veterans Crisis Line, which can be reached at 1-800-273-8255, then, press 1. For more resources
visit https://www.tvc.texas.gov/mental-health/

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.

Filed Under: BeachWalk Development, Better Business Bureau, chamber of commerce, Charities, cybersecurity, Investment Property, Scam Alert, Todd Hunter

PADRE ISLAND HOUSING REPORT – MAY 2023

June 19, 2023 By

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for May 2023. Our active listing median prices rose quite a bit the past month to $460,273 this past month which is 20.3% increase than where it was compared to last April at this time!
CCAR shows us the data that significantly rising for active listings by 73.8% with a total of 186 properties this past month while inventory Has risen at 4.2 compared to 1.9 last year during the month of May.

Days on the market for sale are declining from last month with an average of 60 days and the highest category for sales with 31.8% of all the sales being priced between $400,000 – $499,999. The market is heating up as we are moving into the summer. The Island’s newest development Whitecap NPI will be selling properties soon as constructions continues to boom on Padre island. The Consumer Price Index (CPI) rose 0.1 percent in May, down from 0.4 percent in April, while the yearly rate rose 4 percent, compared to 4.9 percent in April, the lowest yearly inflation rate since March 2021. Federal Reserve officials left interest rates unchanged this past week, skipping an increase after raising rates 10 times in a row since March 2022. Still, policymakers predicted that they might need to raise rates two more times this year to keep driving inflation downward.

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 May 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-may-2023

Filed Under: BeachWalk Development, buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, New Homes Padre Island, North Padre Island Marina, realtors, selling a home, Water Exchange Bridge, Whitecap Development Project, Whitecap NPI

PADRE ISLAND HOUSING REPORT – APRIL 2023

May 15, 2023 By

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for April 2023. Our active listing median prices dipped slightly the past month to $390,000 this past month which is 0.8% less than where it was compared to last April at this time!
CCAR shows us the data that significantly rising for active listings by 62.8% with a total of 166 properties this past month while inventory Has risen at 3.6 compared to 1.8 last year during the month of April.

Days on the market for sale are increasing from last month with an average of 88 days and the highest category for sales with 36.0% of all the sales being priced between $300,000 – $399,999. The market is staying quite strong as we move closer to summer. The consumer price index rose 4.9% in April 2023, the smallest increase in two years, the U.S. Bureau of Labor Statistics said Wednesday in a monthly inflation report. The FED still showing signs of inflation continue to slow down if not holding steady. The Summer Housing market is right around the corner, and we are anticipating an extremely busy season.

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 April 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-february-2023

Filed Under: BeachWalk Development, Corpus Christ Real Estate Data, corpus christi, home maintenance, Investment Property, Mortgages, Padre Island Business Association, Palmilla Beach Resort and Golf Club, realtors, selling a home, Water Exchange Bridge, Whitecap Development Project, windstorm insurance

National Mental Health Awareness Month

May 2, 2023 By

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.

Filed Under: Barefoot Mardi Gras, BeachWalk Development, Better Business Bureau, chamber of commerce, Charities, corpus christi, Hurricane Aide, Hurricane Relief, Investment Property, North Padre Island Marina, Park Road 22 Proposed Bridge, Scam Alert, spring cleaning, Todd Hunter

Scam Alert: Home title fraud

April 27, 2023 By

Home title fraud happens when someone obtains the title to your property and changes ownership from your information to theirs.  The scary part is, you may not even realize it has happened until it’s too late.

How the Scam Works:

Scammers will choose a house, sometimes a second home, rental or vacant house. They then gather your personal information from the internet or elsewhere, and take over your identity to assume the role of property owner or claim to represent you.  They file the necessary paperwork to transfer ownership of your property to themselves, using forged signatures and fake identification. They then sell the home or borrow against the equity.  You might not even know this has happened until a lender starts to send letters of foreclosure on your home due to failure to make payments.

Protect Yourself Against This Scam:

  • Be careful with your personal information. Treat your personal information like the valuable commodity it is. Make sure you shred any documents that have your bank account information, Social Security/Social Insurance number, or other personal information. Be suspicious of any unsolicited communication asking for personal information.
  • Check your credit reports regularly for unauthorized inquiries and accounts. In the U.S., you have the right to check your credit report with each of the three major credit bureaus once per year at AnnualCreditReport.com. This is the only free crediting reporting service authorized by the Federal Trade Commission. Space these checks out across the year, and you will know fairly quickly if something is wrong. In Canada, the Financial Consumer Agency of Canada provides information on requesting a free credit report.
  • Look for unexplained withdrawals, charges, and accounts. Review your bank account and credit card statements regularly. Look for unfamiliar charges, accounts, or withdrawals. Know when your bills are due; one tip-off for identity theft is when you stop receiving certain bills. This can happen because scammers have changed the address associated with your bank account or credit card. If bills don’t arrive on time, follow up with your creditors. Debt collectors may call you about debts that aren’t yours. You can also set up automatic alerts on your accounts so you are notified every time a transaction is made.
  • Check with your local recorder of deeds. Look for deeds that you or anyone representing you did not prepare or sign, periodically.  Make sure they have the correct mailing address for you.  Some counties provide consumer notification services any time a document is recorded on your property.

If your identity has been stolen:

  • File a complaint with the Federal Trade Commission. The Federal Trade Commission recommends that you create an ID theft report, if your ID is stolen. This report will help you deal with the credit reporting agencies and companies that extended credit to the identity thief using your name. First, report the crime to the FTC and print a copy of the details. Contact FTC at 1-877-ID-THEFT (438-4338) or Identitytheft.gov.
  • File a report with local law enforcement. Keep all records of your case, police reports and supporting documents; these may be needed by credit card companies or banks to prove innocence.
  • File a report with the FBI: Contact the Internet Crime Complaint Center (IC3): ic3.gov.
  • Place a “fraud alert” or “freeze” on your credit reports.Contact the fraud departments of each of the three major credit reporting agencies. Let them know you’ve been a victim of identity theft and ask questions—including what protection is provided and if there are any costs—to determine whether a fraud alert or freeze is best for your situation.
  • Notify all credit grantors and financial institutions.Check the status on existing accounts, as they may have been jeopardized. Find out if there is any unauthorized activity or new accounts have been fraudulently opened in your name. You may be advised to close some or all of your accounts. Create new passwords and change your PINs.

Read more about housing scams in BBB’s Scam Alert on Foreclosure Rescue Scams.

If you encounter a scam, we ask that you report it to our BBB Scam Tracker at BBB.org/scamtracker, and you can learn more about common scams at BBB.org/scamtips.

Sign up for BBB Scam Alerts.

Read more about BBB Accreditation Standards and BBB Standards for Trust.

Better Business Bureau Serving Acadiana contributed to this article.

Filed Under: Better Business Bureau, buying a home, Corpus Christ Real Estate Data, corpus christi jobs, Investment Property, Mortgages, New Homes Padre Island, Scam Alert, spring cleaning, windstorm insurance

PADRE ISLAND HOUSING REPORT – MARCH 2023

April 14, 2023 By

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for March 2023. Our active listing median prices continue to rise the past month to $425,000 this past month which is 7.3& above where it was compared to last March at this time!
CCAR shows us the data that significantly rising for active listings by 54.6% with a total of 153 properties this past month while inventory Has risen at 3.1 compared to 1.8 last year during the month of March.

Days on the market for sale are steady from last month with an average of 79 days and the highest category for sales with 34.0% of all the sales being priced between $300,000 – $399,999. The market is keeping pace as we move deeper into Spring. The consumer price index eased to 5% in March 2023 on an annual basis, down from 6% in February, according to the U.S. Bureau of Labor Statistics inflation report. The FED still showing signs of inflation that is slowing a bit now. The Spring Housing market is well underway, and we are anticipating a very busy season.

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 March 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-february-2023

Filed Under: Better Business Bureau, buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, New Homes Padre Island, North Padre Island, property taxes, Real Time MLS, realtors, selling a home, spring cleaning, Whitecap Development Project

PADRE ISLAND HOUSING REPORT FEBRUARY 2023

March 16, 2023 By

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for February 2023. Our active listing median prices have risen the past month to $410,250 this past month which is 6.3& above where it was compared to last February at this time!
CCAR continues to show us the data that shows active listings rising 26.3 % with a total of 144 properties this past month while inventory Has stayed steady at 2.8 compared to 1.0 last year during the month of February.

Days on the market for sale are climbing a bit from last month an average of 80 days on the market and the highest category for sales with 37.5% of all the sales being priced between $300,000 – $399,999. The market is keeping pace as we move into Spring. The Consumer Price Index declined from 6.4% to 6% in the last 12 months ending in February, continuing an eight-month trend of declining annual inflation. The FED meets next week to decide whether they will move the rate again to continue to fight inflation this year. The Spring Housing market is underway, and we are anticipating a very busy season.

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 February 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-february-2023

Filed Under: buying a home, Corpus Christ Real Estate Data, Corpus Christi Foreclosures, Investment Property, New Homes Padre Island, port aransas, property taxes, Real Time MLS, realtors, Uncategorized

PADRE ISLAND HOUSING REPORT – JANUARY 2023

February 21, 2023 By

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for January 2023. Our active listing median prices have stayed very stable through the holidays at $370,000 this past month which is exactly where it was compared to last January at this time!
CCAR continues to show us the data that shows active listings rising 25.7 % with a total of 132 properties this past month while inventory Has stayed steady at 2.6 compared to 1.8 last year during the month of Janaury.

Days on the market for sale have had a slight rise to an average of 63 days on the market and the highest category for sales with 37.5% of all the sales was priced between $300,000 – $399,999. The market is still holding up quite well for the beginning of the year as we head toward Spring Break. CPI Data has shown inflation is still lowering, and the fed still seems committed to getting inflation down to 2% and continues to signal more .25 basis points likely coming by the first quarter of 2023.

Soon, the spring housing market will begin, and we’ll probably want to know what to anticipate. The home market in 2023 might feel more like a nobody’s market after several years of a clear sellers’ market. More buyer advantages and slower home sales are something we anticipate. On the economic front, supply chain problems have started to get better and should keep getting better in the coming year. As interest rates and inflation reduce disposable income, we can anticipate the following five to six months to be sluggish. But the flooring and home improvement sectors will experience tremendous growth over the next five to six years.

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 January 2023 Data (Click Pic below for Larger Image)

padre-island-housing-report-november-2022

Filed Under: BeachWalk Development, buying a home, Corpus Christ Real Estate Data, cybersecurity, Investment Property, Mortgages, New Homes Padre Island, property taxes, Real Time MLS, selling a home

PADRE ISLAND HOUSING REPORT – DECEMBER 2022

January 15, 2023 By

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for December 2022. Our active listing median prices have slightly dipped to $353,250 this past month which is a fall of 3.8% compared to last December at this time!
CCAR continues to show us the data that shows active listings rising 36 % with a total of 136 properties this past month while inventory Has a slight decline to 2.6 compared to 1.7 last year during the month of December.

Days on the market for sale have slightly fallen to an average of 50 days on the market and the highest category for sales with 32.3% of all the sales was priced between $300,000 – $399,999. The market is holding steady which is normal after the Holidays. CPI Data has shown inflation is still lowering, and the fed still seems committed to getting inflation down to 2% and continue to signal more rate hikes to come.

Coastline Properties has been weathering the conditions of different markets since 1995. Prices are falling as more properties enter the market.A survey by Homes USA shows that new home prices have decreased recently.

The adjustment occurs in the midst of a market slump brought on by increased mortgage rates and the earlier increase in prices. Builders are therefore providing greater incentives to purchasers in an effort to enhance sales as inventory rises and new homes take longer to sell.

Real estate company HomesUSA, based in Dallas, analyzes data from multiple listing services and three-month averages for sales, pricing, active listings, and other metrics. This previous week saw a low in mortgage application volume as high mortgage rates continued to harm the housing market.

In 2021, new homes weren’t being added to the MLS since they were selling so quickly. The demand for homes was at its highest and most intense from spring 2020 through spring 2022. The patterns we are currently observing indicate that the local slowdown in new house sales might not just be a seasonal blip. Construction is being curtailed by builders as the market weakens. The houses you can currently see were started when the market was different. You can observe the results of those who entered into contracts only to have to cancel them when interest rates increased.

Soon, the spring housing market will begin, and we’ll probably want to know what to anticipate. The home market in 2023 might feel more like a nobody’s market after several years of a clear sellers’ market. More buyer advantages and slower home sales are something we anticipate. On the economic front, supply chain problems have started to get better and should keep getting better in the coming year. As interest rates and inflation reduce disposable income, we can anticipate the following five to six months to be sluggish. But the flooring and home improvement sectors will experience tremendous growth over the next five to six years.

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 December 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-november-2022

Filed Under: buying a home, Corpus Christ Real Estate Data, Corpus Christi Foreclosures, corpus christi jobs, home maintenance, Investment Property, Mortgages, mustang island, New Homes Padre Island, Padre Island Business Association, padre island events, selling a home, Water Exchange Bridge

PADRE ISLAND HOUSING REPORT – NOVEMBER 2022

December 21, 2022 By

Corpus Christi Association of Realtors has posted the Padre Island Housing Report for November 2022. Our active listing median prices have fallen to $369,000 this past month which is a fall of 3.9% compared to last November at this time!
CCAR continues to show us the data that shows active listings rising 39.6 % with a total of 148 properties this past month while inventory Has a slight decline to 2.7 compared to 1.8 last year during the month of November.

Days on the market for sale have risen to an average of 54 days on the market and the highest category for sales with 31.4% of all the sales was priced between $300,000 – $399,999. The market has softened a bit which is very typical for the Holidays. CPI Data has shown inflation is still lowering, and the fed still seems hawkish with their latest rate hike of .50 % with a commitment to continue raising rates until they get to see solid downward pressure on inflation with the upcoming March 2023 meeting.

Coastline Properties has been weathering the conditions of different markets since 1995. Our market is very unique and the word over the bridge and up North is “Padre Island is on the move.” There is more dirt turning on our little sandbar right now than we have seen in decades, exciting times ahead for residents.

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 November 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-november-2022

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi, home maintenance, Investment Property, Mortgages, mustang island, New Homes Padre Island, property taxes, Real Time MLS, realtors, selling a home

BBB Tip: How to avoid purchasing fake tickets to events

December 5, 2022 By

As another Texas summer with record-breaking heat ends and the beginning of the Fall
season approaches, many people will be looking to get out and enjoy themselves at various
events across the state. Residents may be planning on watching their favorite sports team
compete this season or attending a concert featuring a famous musician. With the prices of
tickets to major events increasing and the ever-present threat of con artists capitalizing on
marketplace trends, BBB recommends consumers exercise caution when searching for and
purchasing tickets to their next event.

While most people know to be careful when purchasing tickets off a third-party website or
reseller, recent reports to BBB Scam Tracker show a concerning trend of scammers
disguising themselves as reputable ticket sellers when interacting with the victim. These
schemes often leverage the credibility of companies such as Ticketmaster to convince
victims to provide payment for tickets that are either fake, for the wrong event or priced
significantly higher than the going rate. Some may also advertise discounted tickets for
high-priced seats or sections, which turns out to be false once the tickets are received, or
the purchaser arrives at the venue.

In many worst-case scenarios, a consumer who is provided a fake ticket plans an entire
weekend around the event, including travel costs and a hotel room, only to be turned away
at the entrance. Victims may also find that the credit or debit card used to pay for the
tickets has a series of charges they do not recognize, resulting in them having to cancel the
card and dispute those transactions with their bank to varying degrees of success.
To help prevent fraudulent sellers from interrupting your event plans, Better Business
Bureau provides the following tips:

 Purchase directly from the venue whenever possible. Many consumers
automatically go to a secondary resale market to purchase tickets for an upcoming
event before first checking with the venue. Going directly to the venue may not only
save money but is also a way to ensure that a purchase is for a valid ticket. Venues
also often include what secondary resale organization they are listing their tickets on,
giving consumers an additional layer of protection from purchasing fake tickets.

 Consider your source. There is a significant difference between purchasing a ticket
from a professional ticket broker and a ticket scalper. While dealing with the latter
may result in obtaining valid tickets, the risk of encountering a scammer is
significantly greater. Always exercise caution when purchasing from sources that are
not members of the National Association of Ticket Brokers (NATB) or Better Business
Bureau.

 Research the seller/broker. Brokers who are members of NATB offer a 200%
purchase guarantee on tickets, protecting consumers that use their services.
Visit NATB.org to confirm you are interacting with a NATB-member resale company.

 Check for website encryption. It is good practice to always check for the lock
symbol in the website address, indicating a secured system is enabled on the site.
BBB strongly recommends against giving any banking information to websites that
are not secured.

 Know the refund policy. Only purchase tickets from a ticket reseller that clearly
details the purchase terms. Avoid sellers who do not disclose where the seats are located or where purchasers can pick up tickets. If the deal seems “too good to be
true,” trust your instincts and thoroughly investigate the seller before purchasing
tickets.

 Use protected payment options. Debit or gift cards, mobile banking apps and
cash transactions are risky due to difficulties recovering money if the tickets are
fake. BBB recommends using credit cards for all online purchases due to the
additional protections they offer consumers to obtain a refund.

 Verify tickets. If you doubt the authenticity of a purchased ticket, present it to the
“Will Call” or customer service center of the event venue. They will inform you if it is
legitimate or explain how a legitimate ticket for their venue should look.

If you have been a victim of a fake ticket scam, report it to BBB Scam Tracker. Information
provided could prevent another person from falling victim.
For more information about ticket scams, visit BBB.org.

Filed Under: Better Business Bureau, chamber of commerce, Charities, Corpus Christi Foreclosures, cybersecurity, home maintenance, Investment Property, Local Food, property taxes, realtors, Retail Tax

PADRE ISLAND HOUSING REPORT – OCTOBER 2022

November 16, 2022 By

The Local Real Estate Market active listing median prices have risen to $410,000 this past month compared to last October at this time!
Corpus Christi Association of Realtors continues to show us the data that shows prices have jumped significantly to 32.6% in median price homes while inventory Has been rising 2.9 compared to 2.2 last year during the month of October.

Days on the market for sale have lessened to an average of 41 days on the market and the highest category for sales with 34.2% of all the sales was priced between $500,000 – $749,999. The market is still stable but edgy as the Holiday season is here, we are keeping our eyes on those mortgage rates and whether the FED will raise benchmark interest rates this month. CPI Data has shown inflation to be cooling off a bit, no telling how markets will react but rest assured our Island is still going through its boom with all the construction projects underway.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. Our market is very unique and the word over the bridge and up North is “Padre Island is on the move.” There is more dirt turning on our little sandbar right now than we have seen in decades, exciting times ahead for residents.

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 October 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-september-2022

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

PADRE ISLAND HOUSING REPORT – SEPTEMBER 2022

October 14, 2022 By

The Local Real Estate Market active listing median prices have risen to $409,450 this past month compared to last September at this time!
Corpus Christi Association of Realtors continues to show us the data that shows prices up 11.6% in median price homes while inventory Has been rising 2.7 compared to 2.0 last year during the month of September.

Days on the market for sale have risen to an average of 49 days on the market and the highest category for sales with 24.2% of all the sales was priced between $500,000 – $749,999. The market is stable but cooling off quite a bit now as we head toward the holidays, we are keeping our eyes on those mortgage rates and whether the FED will raise benchmark interest rates in their November 2022 meeting.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. Our market is very unique and the word over the bridge and up North is “Padre Island is on the move.” There is more dirt turning on our little sandbar right now than we have seen in decades, exciting times ahead for residents.

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 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-september-2022

Filed Under: BeachWalk Development, buying a home, Corpus Christ Real Estate Data, home maintenance, Investment Property, Mortgages, Park Road 22 Proposed Bridge, property taxes, Real Time MLS, realtors

TIPS FOR WHEN A HOMEOWNER PASSES AWAY

September 16, 2022 By

The home changes hands.  It could pass to a surviving spouse or child whose name is on the deed, or be bequeathed to the family as part of the homeowner’s estate.  Often  times, the family simply wants to sell the property.

  1. Talk to the Executor:  The deceased homeowner’s will should name an executor.  Only that person can make financial decisions for the estate, including setting the asking price.
  2. If No Will….if the homeowner died without a will, the estate may go to probate court.  The purpose of court involvement is to protect the rights of the family, those entitle to receive property, and the creditors of the deceased person’s estate, according to the Texas Bar Association.  State law governs who inherits what if the estate has no will.
  3. Bill to Pay?….The estate is required to pay outstanding debts.  The executor must make sure the estate has enough money to cover them.  Texas is one of nine community property states, meaning relatives may be required to pay off the deceased person’s debt.  One will want to make sure there is nothing preventing the sale of the property.

It is stressful to handle the paperwork and make decisions while mourning.  Always be understanding and sympathetic.

~ Cheri Sperling, Owner Coastline Properties

 

Filed Under: BeachWalk Development, buying a home, Corpus Christ Real Estate Data, home maintenance, Investment Property, New Homes Padre Island, property taxes, Real Time MLS, realtors, rentals, selling a home

BBB Business Tip: 7 ways small business owners can cope with inflation

August 5, 2022 By

U.S. consumers are experiencing the most significant 12-month increase in prices since
1981, and many small business owners are feeling the pressure. With the inflation rate
hovering around 8%, according to the Bureau of Labor Statistic’s Consumer Price Index,
many small business owners are experiencing increased costs to conduct business and
shrinking profit margins. Desperate to remain profitable, entrepreneurs are looking at how
they can cut costs or raise prices without scaring off their customers.
High inflation rates are driven mainly by significant increases in food, shelter and gas prices.
Increased energy prices, supply chain disruptions, and labor shortages add to a business
owner’s expenses. With so many cost increases, what can small businesses do? BBB
recommends the following to minimize the impact of inflation on your business.
Ways your small business can cope with inflation.

  1. Reduce your expenses. Be intentional about where your business is spending its
    money. This means reviewing your current spending and determining if it aligns with
    your strategy. If employees are wasting office supplies or delivery drivers are taking
    the scenic route, address the issue. Be sure to assess the revenue being brought in
    by your online advertising strategy and make adjustments if it isn’t providing value.
  2. Stock up on necessary supplies. If there are items you know you’ll use in the
    year ahead, buy as much as you can now. You may get bulk discounts, and you can
    minimize the impact of future price increases. Stocking up on supplies will allow you
    to avoid passing on increased costs to your customers in case prices continue to
    grow.
  3. Have multiple suppliers. Having one supplier for every item your company needs
    makes sourcing simple and helps develop strong relationships with vendors.
    However, if you have numerous suppliers, you’ll have options if one can’t get you
    what you need or their prices increase.
  4. Evaluate your products and services. Identify what products and services are the
    most profitable. Remember that consumers might be open to lower-priced options to
    maintain their own budget. They also may be interested in paying more for items
    and services that make a stressful time more manageable. Consider temporarily
    cutting services or expenses to better focus on what generates the best results.
  5. Raise prices wisely. If you must raise your prices to compensate for inflation, do
    so wisely. Don’t increase your prices so much that it causes many of your customers
    to purchase from your competitors. Instead, raise your prices just enough to offset
    the impact of inflation and ensure that you can keep your small business profitable.
    Also, don’t be sneaky about pricing by resorting to drip pricing or hidden fees.
    Instead, be transparent. Let customers know about the increase and help them
    understand why.
  6. Prioritize customer service. When consumers know you care about their
    satisfaction, they’re more likely to do business with you, even if you must raise
    prices. Don’t skimp on service by being understaffed. If you don’t have the budget
    for a full-time employee, look into freelancers and part-time staff.
  7. Use technology. Artificial intelligence, automation and self-serve customer options
    can reduce costs and take pressure off existing staff in an already tight labor market.
    Take the time to research technology that you could implement in your business to
    help reduce costs and maximize efficiency.
Filed Under: Better Business Bureau, buying a home, chamber of commerce, hispanic chamber of commerce, home maintenance, Investment Property, padre island events, Real Time MLS, rentals, spring cleaning

Padre Island Housing Report – June 2022

July 19, 2022 By

The Local Real Estate Market active listings have jumped up by 36.7% the past month!
Corpus Christi Association of Realtors continues to show us the data that leans toward Prices slightly Rising in median price homes while Inventory Has been rising the past month.

Days on the market for sale have stayed steady at an average of 79 days on the market. 28.8% of all the sales in March were priced between $300,000 – $399,999. The Median Price of homes has risen additionally by 1.8% to a price of $420,000 compared to the same month in 2021. The market is stable at the moment, the fed will make its rate decision by next week and this could influence the buyers out there to make their decisions before summer’s end.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. It’s a good time to get prepared and if you are a homeowner currently as we are now in Hurricane Season, it’s a great time to make sure your insurance and plans are in order for a potentially big season of storms ahead according to NOAA.

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 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-april-2022

Filed Under: buying a home, Corpus Christ Real Estate Data, home maintenance, Investment Property, Mortgages, New Homes Padre Island, North Padre Island, realtors, selling a home, windstorm insurance

Padre Island Housing Report – May 2022

June 24, 2022 By

The Real Estate Market continues to soften a bit with Mortgages rates getting bumped up now due to the Federal Reserve raising rates 75 basis points. Padre Island, is still hot for relocations & second homes, things are definitely shifting more and more each day now with more uncertainty in the world.

Stock market conditions are still uneasy out there and America is taking a much slower approach to big purchasing decisions given our inflation report coming out with a CPI at levels we haven’t seen in decades.

Many of us brokers have seen it all before, Coastline has been weathering the conditions of different markets since 1995. It’s a good time to get prepared and if you are a homeowner currently as we are now in Hurricane Season, it’s a great time to make sure your insurance and plans are in order for a potentially big season of storms ahead according to NOAA.

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 May 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-april-2022

Filed Under: buying a home, Corpus Christ Real Estate Data, home maintenance, Hurricane Aide, Hurricane Hanna, Hurricane Relief, Investment Property, Mortgages, New Homes Padre Island, North Padre Island, realtors, selling a home

Padre Island Housing Data – April 2022

May 26, 2022 By

America’s home buying binge seems to be coming to an end. Our specific area, Padre Island, is still hot for relocations & second homes, but we are starting to sense a shift and data is beginning to support this sense.

Home sales have tumbled for the third month. Cash buyers are beginning to be fewer and disappearing. Even though mortgage rates eased this past week many buyers are pulling back from the housing market. The stock market is scaring people. Where is our economy going?

Before long, and we’ve seen this before, there will come a time when buyers and sellers are not knocking down a sellers door. Many of we real estate brokerages are beginning to prepare for the upcoming market changes. Our real estate inventory is beginning to rise, ever so slightly, and fewer sold/closings.

We’ve been here before…..get prepared.

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 April 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-april-2022

Filed Under: buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, New Homes Padre Island, port aransas, property taxes, realtors, selling a home, windstorm insurance

Padre Island Housing Data – March 2022

April 16, 2022 By

The Local Real Estate Market prices moving up sharply this Spring 2022!
Corpus Christi Association of Realtors continues to show us the data that leans toward Prices Rising in median price homes while Inventory Has been Lowering the past month.

Days on the market for sale have decreased now to an average of 75 days on the market. 29.5% of all the sales in March were priced between $300,000 – $399,999. The Median Price of homes has risen additionally by 11.2% to a price of $395,000 compared to the same month in 2021. The market is certainly holding steady and it’s still a very good time to list your home with inventory still quite low and the spring buyers with cash are looking at getting in the market before Memorial Day.

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 March 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-march-2022

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi, home maintenance, Investment Property, Mortgages, New Homes Padre Island, property taxes, Real Time MLS, realtors

Padre Island Housing Data – Dec 2021

January 11, 2022 By

WHAT DO SUPPLY AND DEMAND TELL US ABOUT TODAY’S HOUSING MARKET?

There’s a well-known economic theory – the law of supply and demand. Elevated demand persisted as homes averaged roughly one month on the market and after multiple offers coming in. When demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is VERY HIGH and supply is VERY LOW, prices can rise significantly.

If you’re waiting to enter the market because you’re expecting prices to drop, you may end up paying more in the long run. Even if price increases occur at a slower rate this coming year, prices are still projected to rise. That means the property of your dreams will likely cost even more in 2022.
The bottom line is, high demand and very low supply on Padre Island are what’s driving property prices in today’s real estate market. And while prices may increase at a slower pace in the coming months, experts still expect them to rise.

If you’re a potential real estate buyer, connect with your trusted REALTOR today to discuss what that could mean for you if you wait even longer. It’s a seller’s market and they feel if you don’t buy their property, the next one will.

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 December 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-dec-2021

Filed Under: buying a home, Corpus Christ Real Estate Data, home maintenance, Investment Property, Mortgages, New Homes Padre Island, property taxes, Real Time MLS, realtors, rentals

Prep For The Cold?

December 27, 2021 By

BREAKING NEWS: Winter is upon us. “So what” you say? We live in S. Texas – it’s always warm, sunny, driveway drinks and pool parties weather around here. MYTH. We can and do get freezes! Who remembers last February? That was pretty extra and as atypical as it was, history CAN repeat itself.

I know we’re all tempted to start purchasing heat lamps and tents for our palms and delicate landscaping, but if you are among the majority who have children, pets, or anything with a heartbeat living under your roof, it’s best to learn from last year’s unfortunately scary and chilly events that to be prepared for inside is the best thing you can do.

Here are the top 5 ways to plan ahead to alleviate some of the discomforts of inclement weather.

  1. GENERATOR – get one. Any one. Small one, big one, an automatic one, propane tank one, whole-home, portable…red one, blue one, get one, run run. You will not want the precious food (or beer) in your fridge to spoil, and you want to be able to at least turn on a small-space portable heater. IF your fridge isn’t going to run on the generator you have, pull out what’s important to you and put it outside! You have a FREE freezer on your patio.
  2. PIPE INSULATION – remember having no water? Or worse yet, no water AND a burst line? Head to your favorite hardware store and grab some pipe insulation. Know where your main water line is and make sure you have enough insulation (or in a clutch situation, blanket and lots of duct tape) to wrap it. Let your faucets drip slowly to keep that water moving, and it is less likely to freeze. In the unfortunate event of a burst, turn them off immediately.
  3. HEAT SOURCE – if you failed to grab that generator, have a backup plan! If you have a fireplace, stockpile wood (and keep the flue closed when not in use!). Gas cooktops? Make sure you have a lighter to spark that bad boy up. If you followed rule #2, you’ll have water to boil for noodles, baby bottles, sponge bath…and while I give you a moment to get your mind out of the gutter…clear THEM, too! If there is debris in them, that melting ice could drip into your attic. Make sure your doors and windows have tight seals to keep drafts out.
  4. CHARGERS – have your battery packs ALL juiced up so you do not end up with a dead cell phone and no way to communicate with the outside world. Or no way to keep yourself entertained…Netflix never sounded so good. Furthermore, have a full tank of gas in your car in the event you DO need to charge your devices from there!
  5. STOCK UP – on weighted blankets, board games, books, wool socks, candles, beef jerky (a personal favorite but any non-perishable protein of your preference!), water (and wine…), flashlights and batteries, first-aid kit, and perhaps make an extra effort at making nice with your neighbors. Sometimes they’re the real saviors with a hot pot of coffee or a quick shower.

I repeat: we CAN and DO freeze! Stick to this top 5 list first, and pray we can save it all for 2072.

Filed Under: Barefoot Mardi Gras, buying a home, Hurricane Aide, Investment Property, New Homes Padre Island, selling a home, spring cleaning, windstorm insurance

Padre Island Housing Data – November 2021

December 17, 2021 By

The Local Real Estate Market is still going strong as we turn the corner into 2022!
Low inventory, consistent low interest rates that are still holding right now until the first quarter of 2022, where will see a likely small rate hike according the recent FED meeting.

Days on the market for sale has decreased to an average of 33 days on the market. 48.8% of all the sales in November were priced between $300,000 – $499,999. Median Price of homes has risen slightly by 10.8% to a price of $384,000. The market is certainly holding steady and it’s a still a phenomenal time to list your home with inventory nearing it’s lowest point of the year with increased buyers looking for their dream homes.

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 November 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-oct-2021

Filed Under: BeachWalk Development, buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, Padre Isles POA, property taxes, Real Time MLS, realtors, selling a home

Padre Island Housing Data – October 2021

November 5, 2021 By

The Local Real Estate Market is still doing well as we head into 2022!
Low inventory, bidding wars, and with continued low interest rates holding right now, this looks to be another stellar year for home buyers, investors and sellers alike!

Days on the market for sale has decreased to an average of 35 days on the market. 25% of all the sales in October were priced between $200,000 – $299,999. Median Price of homes has risen slightly by 3.6% to a price of $309,250. The market is certainly holding steady and it’s a great time to find that dream home you have been waiting for or cash out that equity. We are here to serve all your 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 October 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-oct-2021

Filed Under: BeachWalk Development, buying a home, Corpus Christ Real Estate Data, home maintenance, Investment Property, New Homes Padre Island, North Padre Island, property taxes, selling a home

Homeowners Uncertain About Selling Right Now

October 20, 2021 By

Many homeowners are making difficult decisions on whether it’s a good time to sell or not. After all, home appreciation has risen tremendously over the past year, and the temptation may be stronger than ever.

Homeowners typically sell their homes after 16 years, according to U.S. Census Bureau data. About 20.2 million homeowners have purchased their home in the last 10 to 19 years, which would mean many of them may be feeling that desire to move, notes the National Association of REALTORS® Economists’ Outlook blog.

“Although the market typically slows down in fall, there is still stiff competition among buyers, with multiple offers for each home due to low inventory,” writes Nadia Evangelou, NAR’s senior economist and director of forecasting, on the association’s blog. “As a result, sellers continue to have strong negotiating power as most of them are able to sell their home for higher than the asking price.”

Homebuying activity remains strong this fall, even if reports do indicate it has slowed somewhat from the ultra-busy summer. Buyer demand continues to outpace supply. Eighty-seven percent of homes sold in August were on the market for less than a month, according to NAR data.

Also, for home sellers who also have to buy, they can still take advantage of historically low mortgage rates. Rates are expected to rise over the next year. Last week, the 30-year fixed-rate mortgage averaged 3.05%, according to Freddie Mac.

Bidding wars are still occurring too. About four offers were received on each closed home sale in August, according to real estate professionals surveyed for the REALTOR® Confidence Index survey for August.

home-owners-looking-to-sell-corpus-christi

Source: REALTORS® Confidence Index Survey, August 2021

A recent report on HomeLight says that certain homeowners especially should consider selling now, like those desiring to trade up and wanting to lock in a low mortgage rate; those who are looking to maximize retirement funds; and homeowners who have a current house that may need some work (seller’s markets tend to offer homeowners negotiation leverage in repairs).

Stacey Glenn, a real estate professional in Fort Myers, Fla., told HomeLight that it may cost home buyers about 10% to 20% more to purchase a home than a year ago, but buyers can still come out ahead in the long run, if they remain financially stable and stay in the house long enough for market appreciation.

On the other hand, HomeLight points out that homeowners may not want to sell if they recently refinanced their home; can’t afford current housing prices; or haven’t built up much equity yet.

Article Source National Association of Realtors

Filed Under: BeachWalk Development, buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, New Homes Padre Island, Real Time MLS, realtors

Net-Zero Home?

August 23, 2021 By

Despite the sounds of it, this term does not apply to selling your home and seeing a fat ZERO on the Monies Owed to Seller at closing. This is FAR from a financial “wash” actually. It refers to energy efficiency! By definition, a net-zero home produces as much energy as it consumes. Most of us would agree that part of being a homeowner is watching our spending – trying to cut back on our utility bills is a big part of that. Seeing as most of us likely are unable to attain this completely, we can still utilize aspects that could help put a little jingle in the boat savings piggy bank.

Building Envelope – This is the physical separator between the conditioned and unconditioned spaces of your home. Ever see the sun through those minor gaps in your doors? Seal that up! Although your neighbors appreciate you cooling down the cul-de-sac, your energy bill doesn’t. Other areas to check are leaky ductwork and gaps in attic insulation (and wall insulation if you’re building a home).

Windows – If you’re like many Island residents with an older home, this may apply to you. By upgrading to double-paned, glazed, low-E windows, you’ll not only be saving energy, but you’ll also be better protected in the event of a hurricane. Go the extra mile by purchasing nice shades, too.

Lighting and Fixtures – Wherever possible, swap out your bulbs and fixtures for energy-efficient LED lighting. Install energy-saving ceiling fans in bedrooms and main living areas to assist your AC system with that extra boost of circulation.

Heating and Cooling – This is a big one as it accounts for well over 50% of interior energy bills. When your systems need replacing, do your homework. Three main areas to research: 1) AFUE rating; the closer to 100%, the more efficient; 2) SEER rating; a score of 16 SEER or higher is considered efficient; 3) Output Capacity; two-stage and variable-speed systems are the most energy-efficient. Consider installing a smart thermostat that will automatically adjust to your needs.

Green Power – Check your energy provider as they may offer an opt-in program for renewable energy sources.

YOUR Habits – Be mindful of our own usage and habits. A few tricks: 1) Close your blinds, curtains, or shutters on hot days and switch on your AC before the peak of the heat so it doesn’t have to work as hard. 2) Close off rooms you’re not using. 3) If you’re bad at turning off lights, install sensors in rooms like bathrooms and outside. 4) Remind your family members of the importance of turning off appliances when they’re finished with them.

Reduce your energy footprint as you’re able! Small changes can make a big difference. You can be comfortable, healthy, sustainable, AND no longer live in fear of the monthly mailbox utility bill. Live the COOL life.

Filed Under: buying a home, Investment Property, Mortgages, New Homes Padre Island, realtors, selling a home

Stock Trading Apps

June 24, 2021 By

In the aftermath of the GameStop stock saga, many would-be investors have turned to mobile stock trading apps to capitalize on market investments. According to MarketWatch, a Dow Jones & Co. investment resource that tracks marketplace trends, February downloads of mobile trading apps, such as Robinhood, E*Trade and Webull, reached an all-time high with expectations of continued growth.

While trading apps have made accessing and investing in the stock market easier than ever, participation always carries the potential for financial loss or gain. Before you invest with a stock trading app, be sure to follow these tips from your Better Business Bureau:

Educate yourself about stock markets.  The best way to succeed at mobile stock trading is to do your homework before you begin. Familiarize yourself with concepts like expense ratios, trading commissions, asset allocations, individual stocks, exchange-traded funds, and more.

Choose a reputable stock trading app. The trading app you choose is more than just a platform for trading; it is the company that will serve as your broker. Be sure that any company you are considering has a good reputation and is legally licensed with the appropriate government authorities.

Set a budget. Make sure you are in a good financial position to start trading. Since trading carries risks, you should never invest money you can’t afford to lose. Keep in mind that it is unwise to put more than 10 percent of your portfolio towards individual stocks, as this can expose your savings to too much volatility.

Practice by trading virtually. If you want to try the stock market, but aren’t ready to risk real money, try “virtual trading” first. Many online stockbrokers offer platforms where you can learn the ropes by buying and selling virtual stocks.

Watch out for scams and “hot tips.”  Keep an eye out for investment scams. Stick to brokers that are registered with the SEC and avoid anyone who uses high-pressure sales tactics or pyramid schemes. Sponsored ads and online forums promoting “fail-safe” stocks that are “guaranteed” to get you a huge profit for a small investment (if you act now!) are likely fake, or part of a racket designed to drive up the price of a stock temporarily. Don’t fall for this kind of “insider’s advice.”

For more information about investment scams and how to safely trade stocks via a mobile app, go to BBB.org

Filed Under: Better Business Bureau, chamber of commerce, Investment Property, Mortgages, Retail Tax

Hunter Delivers Legislative Wins for Coastal Bend

June 18, 2021 By

TWIA reform, suicide prevention, college funding make session successful.

Media Contact: Angie Flores at 361.695.2048

(CORPUS CHRISTI) – It will be more difficult for the Texas Windstorm Insurance Association (TWIA) to raise insurance rates under legislation successfully pushed this year by State Rep. Todd Hunter of Corpus Christi. The protection against TWIA rate increases was one of many legislative victories that Rep. Hunter delivered for the Coastal Bend.

Rep. Hunter, who has long fought against TWIA rate increases, ensured language was included in Senate Bill 1448 requiring that two-thirds of the TWIA Board of Directors must vote to approve any rate increase, rather than a simple majority. Governor Greg Abbott signed Senate Bill 1448 into law on May 26, making it effective September 1.

Coastal Bend business leaders joined Rep. Hunter at a Tuesday press conference to celebrate the passage of Senate Bill 1448.

“TWIA rates are already too high and it should not be easy for the TWIA Board to raise them further,” Rep. Hunter said. “We put together a bipartisan coalition in the Legislature to stand up to TWIA and support the coastal homeowners and businesses who must pay these high rates. These controls on TWIA rate increases will provide needed protections for property owners and our Coastal Bend economy.”

An experienced legislator who works well with members of both political parties, Rep. Hunter accomplished many of his legislative priorities throughout this year’s session, which lasted from January to May. Many of his top priorities emerged from meetings and conversations with residents of the Coastal Bend over the last several years.

For example, after a group of local students approached Rep. Hunter about an alarming increase in suicides, he formed a local task force to work on the issue. He passed House Bill 4074, which requires the Statewide Behavioral Health Coordinating Council to create a subcommittee focused on suicide prevention through the use of data and by including suicide prevention efforts in the council’s behavioral health strategic plan. Rep. Hunter also successfully authored House Bill 3821, which requires the Texas Veterans Commission and the state Health and Human Services Commission to employ and train mental health professionals as part of the state’s mental health program for Veterans.

Rep. Hunter also organized a task force several years ago to focus on prevention human trafficking, and once again, feedback from the task force helped pave the way for legislative action. For example, the risks for human trafficking and exploitation are often high at sexually oriented businesses. Rep. Hunter was the House sponsor of Senate Bill 315, a new law raisingthe age of employment in sexually oriented businesses from 18 to 21 and prohibiting sexually oriented businesses from allowing minors on site. He also authored House Bill 3521, which redefines coercion as it relates to human trafficking offenses to include the performance or provision of labor or services.

“Meetings with community stakeholders over the last several years have informed and strengthened our work to prevent suicides and human trafficking,” Rep. Hunter said. “From law enforcement to students to mental health professionals and educators, the members of our task forces have helped shape legislative solutions in a positive way.”

Rep. Hunter’s legislative work this year also reflected the concerns of key Coastal Bend industries. For example, to support the beleaguered music industry after a very difficult year, Rep. Hunter helped pass Senate Bill 855 to crack down on those who try to illegally sell music online without the consent of the artists who created it. He also helped secure funding to continue the development of oyster mariculture, which Rep. Hunter brought to Texas with legislation he passed into law in 2019.

“We delivered victories for key sectors of our local economy,” Rep. Hunter said. “Those victories will impact the whole community by creating a stronger climate for economic activity.”

Rep. Hunter also helped the effort to fund numerous Coastal Bend educational institutions and tourist attractions in the two-year state budget, including:

n $130.9 million in total funding for Texas A&M University – Corpus Christi
n $34.7 million in total funding for Del Mar College
n $8.9 million for the University of Texas – Marine Science Institute
n $6.65 million for Texas A&M University – Corpus Christi Unmanned Aircraft Systems
n $500,000 for a grant to the Texas State Aquarium Wildlife Rescue Center

Finally, Rep. Hunter authored two new laws to improve beach safety. House Bill 3807, the Je’Sani Smith Act, requires cities, counties, and the Parks and Wildlife Department (TPWD) to add signs and lifeguards in certain areas to improve the safety of public beaches during the summer months. House Concurrent Resolution 46 designates April as Beach Safety and Rip Current Awareness Month in order to raise awareness of the potential dangers of swimming in the ocean. The resolution calls for a public awareness campaign focused on beach safety each April.

Overall, Rep. Hunter declared the legislative session a success for residents of the Coastal Bend and pledged to continue prioritizing issues that matter to the people he represents.

“The issues that matter to the Coastal Bend are the ones that matter to me,” Rep. Hunter said. “I am proud of the legislation we passed on a range of important issues, and it would not have been possible without the input of so many people in our community.”

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About Rep. Todd Hunter
Todd Hunter is the state representative for Texas House District 32 in Nueces County. He is the Chairman of the House Redistricting Committee. He is also a member of the State Affairs Committee, which deals with significant matters of state policy, ranging from the administration of the state government to cybersecurity, and he sits on the International Relations & Economic Development Committee.

Political Ad Paid For By The Todd Hunter Campaign

Filed Under: Better Business Bureau, Charities, Corpus Christ Real Estate Data, Eagle Ford Shale, Hurricane Relief, Investment Property, Todd Hunter

Padre Island Housing Data May 2021

June 10, 2021 By

May 2021 Real Estate Housing Report just out!!

As of today, Padre Island has only 15 Waterfront homes listed For Sale.
From $489,900 to $3,200,000

1 – Listed for $489,900
3 – Listed in the $500,000 range
1 – Listed for $615,000
2 – Listed in the $700,000 range
1 – Listed for $874,900
1 – Listed for $989,500
6 – Listed for over $1,000,000
15 Waterfront Homes For Sale on Padre Island

The largest amount sold pricing was from $200,000 – $299,999 29.3%Sold The second amount sold pricing was from $300,000 – $399,999 22.4%Sold

See attached numbers.

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 May 2021 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2021

Filed Under: buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, New Homes Padre Island, Real Time MLS, realtors Tagged With: , ,

WE LOVE MAILBOX MONEY

May 8, 2021 By

Anyone else sit at home and blast Jimmy Buffet radio through the surround sound? Mailbox Money is one of my personal favorites. He’s got the right idea: Invest in a piece of paradise, rent it, make (more than) a few bucks! With the housing market being as strong as it is right now, most buyers are losing out on the rat race – they WANT to be here, but (1) cannot afford to buy in this high seller’s market; (2) are attempting to purchase but continue to not be “the chosen one” in the multiple offer scenarios presenting with most properties for sale; (3) are unsure as to how long they’ll be able to spend away from their homestead; or (4) just want to get a feel for the Island before purchasing themselves.

These folks want to RENT! They want to give YOU their MONEY!

Spring and Summer are often pique times to consider selling and buying, especially now with the population AND popularity of the Coastal Bend rapidly increasing. Demand is HIGH and for good reason. Travel is becoming increasingly more accessible, and many are still working remotely and want to do so from our Island. Two really huge reasons to jump in and both buy and sell while the flocks are flocking.

So WHAT makes real estate such a powerful investment, not only now in the current market, but long-term?

WHAT:

If checking that mailbox for a monthly check is what has your face morphing into the heart eye emoji, then you’re asking yourself, “what are the elements of value to an investor?” Well, that depends on commitment: Do you intend on having a long-term or short-term investment? You also need to do your due diligence on rental rules – single-family homes must have a 30+ day minimum; however, most condos will allow vacation rentals. Ask your agent for the specifics on each property you have your eye on to ensure it aligns with your goals.

Property values and their projected appreciation may play a large role in your (a buyer’s) intentions. This past year is a prime example of how quickly appreciation can happen – and may likely continue on that upward trajectory. Tax depreciation, capital gains, and inflation hedge may also play a role in values. As important as these matters are, they may be a little snooze-worthy. So let’s make it quick.

Let’s take a look at each of these potential advantages:

Projected Appreciation: This is a percentage that estimates what your property will be worth in the future. Of course, nothing is ever promised, but the numbers could aid in the decision process.

Tax Depreciation: COULD help you maximize your tax savings. This is the depreciation that can be listed as an expense on a tax return, the gradual charging to expense of a fixed asset’s cost over its useful life.

Capital Gains: Another key tax advantage of owning an investment property. Capital gains on investment real estate is the difference between the sales price and the cost of purchase and improvements. They’re taxed at either a short-term rate or a long-term or reduced rate.

Inflation Hedge: This has to do with the rent that’s charged to the tenant. Some leases have provisions for rent increases to be indexed to inflation. In other cases, rental rates are increased whenever a lease term expires and the tenant is renewed. Either way, real estate income tends to increase faster in inflationary environments, allowing an investor to maintain its real returns.

Selling: When rental properties are sold, the proceeds can be rolled into other rental properties without paying capital gains taxes. This is called a 1031-Tax Exchange.

Now, most of you are probably thinking “This sounds great, but I can’t afford that…” Fortunately for many of us, you don’t have to be a part of the ultra-rich to own an investment property! After all is said and sold, as long as your rental income exceeds your monthly expenses, you WIN!

Here are some helpful tips that may guide you in the right direction:

  1. Work with an agent who is knowledgeable about the area. Here in our Coastal Bend, most agents are accustomed to working with investors/second home buyers.
  2. Know what the seller’s main goals are. That alone will give you a leg up on any offer you send their way. If they’re money-driven, offer over the asking price. If they need a long close and a lease-back, offer that. Extra Earnest Money? You get the idea.
  3. Spend time doing your research and asking your agent the property questions. Which is the right neighborhood for your needs, the costs of maintenance, HOA dues, taxes, insurance, etc.
  4. Have money. This may seem obvious but daunting, so let me explain that it doesn’t mean millions in the bank. Paying cash may give you a leg up, but many buyers will need a loan – your lender’s underwriter needs to see that you have adequate reserves (as often your down payment will be larger for a second property).
  5. Consider your debt-to-income ratio. It cannot be too high.

If you are at all capable, dive in. The options and advantages can far outweigh the fear of dabbling in real estate investing. If you live here, you know the magic of the Island – now is the time to capitalize on the growing rental market. Let not “checking the mail” be a chore – Cash in!

Filed Under: buying a home, Corpus Christ Real Estate Data, home maintenance, Investment Property, Mortgages, New Homes Padre Island, property taxes, Real Time MLS, realtors, rentals