Mortgages

PADRE ISLAND HOUSING REPORT – NOVEMBER 2024

December 12, 2024 By Cheri Sperling

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

Our active listing median prices have softened the past month to $485,000 which is actually a 20.1% increase from where it was compared to last November at this time! CCAR shows us the data that has risen for active listings t0 33.6% with a total of 322 properties this past month compared to November 2023 while inventory also rose to 11.5 compared to 7.3 last year at this time.

Days on the market stayed steady this past month with an average of 86 days and the highest categories for sales with 30.4% of all the sales being priced between $300,000 – $399,999. The market is still softening a bit as we head into the last month of 2024 with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.3 percent on a seasonally adjusted basis in November versus the prior month, following four consecutive months of 0.2 percent increases. Over the past 12 months, the all-items index has increased by 2.7 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 Corpus Christi real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

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

Filed Under: buying a home, Corpus Christ Real Estate Data, Corpus Christi Foreclosures, cybersecurity, Holiday Parties, home maintenance, Hurricane Relief, Investment Property, Mortgages, North Padre Island, North Padre Real Estate, Padre Island Business Association, property taxes, Real Time MLS, realtors, selling a home, Whitecap Development Project, Whitecap NPI Tagged With: new construction padre island, padre island homes

PADRE ISLAND HOUSING REPORT – OCTOBER 2024

November 14, 2024 By Cheri Sperling

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

Our active listing median prices have risen the past month to $556,7500 which is actually a 23.7% increase from where it was compared to last October at this time! CCAR shows us the data that has risen for active listings t0 33.3% with a total of 328 properties this past month compared to Ocotber 2023 while inventory also rose to 11.7 compared to 7.3 last year at this time.

Days on the market stayed steady this past month with an average of 143 days and the highest categories for sales with 40.0% of all the sales being priced between $500,000 – $749,999. The market is still softening a bit as we head into the holidays with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally
adjusted basis in October, the same increase as in each of the previous 3 months, the U.S. Bureau of
Labor Statistics reported today. Over the last 12 months, the all items index increased 2.6 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 Corpus Christi real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!

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

Filed Under: buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, New Homes Padre Island, North Padre Island, North Padre Real Estate, property taxes, Real Time MLS, realtors, Water Exchange Bridge, Whitecap Development Project, Whitecap NPI Tagged With: padre island new homes

BBB Tip: Reports of political scams increase as presidential election nears

October 26, 2024 By manager

An election’s approach always seems to turn up the emotional heat across the nation, and the upcoming presidential election is no exception. On Nov. 5, voters will decide who will lead the country into the future. As the election nears, voices arguing for or against critical issues are loud and persistent, often fueled by emotional appeals and passionate support. While political campaigns usually include unsolicited contact as part of legitimate outreach efforts, bad actors also capitalize on peoples’ passion to trick them into divulging personal information or providing financial contributions.

Preying on emotion and exploiting people who deeply care about an ongoing situation or issue is a common tactic for scammers. This strategy can often be seen in the number of charity and fundraising scams following a natural disaster or humanitarian crisis. As generous donors look to contribute to ease the suffering of those affected, scammers seek to exploit their kindness for their own purposes. In the political arena, people often participate in polls and surveys because they want their voices to be heard, and scammers use that desire to build trust and steal personal information. Other citizens who wish to be involved may donate to the political campaign of their chosen representative, and scammers are more than willing to take advantage of their willingness to contribute.

Elections are polarizing by their very nature. It is easy to get swept up in the emotional wave and take risks that you might typically avoid. While it is essential for the governed to be informed and engaged with the election process, it is also important to remain aware of scammers who use elections to initiate contact and steal from the public.

BBB provides the following tips to help identify some common political scams as the presidential election approaches.

Check your email

During election seasons, it can feel like once a candidate or political party gets your email address, you hear from them every time you check your inbox. They may claim they need your help or want to know your point of view through a poll or survey. The email may ask for a donation, a response, or specific information about your political beliefs and demographics to support their efforts and make an impact on the future.

Campaign email is one of the best ways to communicate with voters whose busy schedules often prevent them from having the time to answer a phone call or attend a political rally. However, scammers can also sign up to receive these communications, allowing them to mimic their appearance and language. Polls, surveys or donation requests that appeal to your passion, beliefs and desire to take action may also be an attempt to steal your personal information or gain access to your bank account.

If you have signed up to receive communications from a political campaign, those emails should come from a specific email address associated with the representative. Take the time to check the sender’s email address and pay close attention to the domain and subdomain. For example, a generic email address for a political campaign may be ‘info@RepresentativeFor2024.org,’ which a scammer may change to ‘info@ForRepresentaive2024.com.’ Before you donate or give personal information, research the organization that reached out, and be wary of people who try to rush you to make a decision.

Be especially careful of emails with links. Phishing emails might include a link that takes users to a spoofed version of a candidate’s website or installs malware on your device. If you want to receive more information or visit a site, it’s better to type the official website address into your browser. You can also hover your mouse over hyperlinks and compare the web address that pops up with the legitimate web address.

When scammers give you a ring

Candidates’ campaigns often canvas their supporters by phone to help determine voters’ key issues for an upcoming election. However, scammers may do the same to obtain personal information or money. Criminals pretending to be affiliated with your party or candidate might attempt to scam you over the phone by asking you to answer survey questions, donate money, or claim to offer voter registration assistance. Scammers entice their targets to share personal information such as their Social Security number, birthdate or address in exchange for a prize or gift card, which no legitimate canvasser will ever do.

Trickery by smishing

Smishing is like email scamming; only messages are sent via text. Voters might receive a message that looks like it came from a trusted source, inviting them to participate in a poll or donate by following a provided link or QR code. Scammers also have been known to spoof phone numbers and caller IDs, making it even more challenging to distinguish between a legitimate outreach attempt and fraud. Like phishing scams, con artists use smishing to get passwords, account numbers, Social Security numbers or other data. They may also ask personal questions that seem harmless at face value but can be used to answer security questions for your online accounts.

Another type of scam happens when con artists send a text about a problem that doesn’t exist. For example, an individual might get a text that looks like it came from their bank, asking if they donated to a candidate, organization, or party with a prompt to reply “yes” or “no.” If the person replies no, the scammer calls them and asks for their account login, numbers or password to investigate or dispute the transaction. The person feels an urgent need to act, so they might not think twice about giving up sensitive information.

There’s also the text-your-vote scam. Con artists send text messages urging people to text their vote rather than voting in person or by mail. When voters believe them, they don’t show up to vote, losing their chance to participate in elections.

Presidential election cybersecurity tips

See prizes as a red flag.
Know what pollsters don’t need. They might ask for demographic information or what party you most align with, but they don’t need personal information like birth dates, social security numbers or financial information. No state offers voter registration by phone.
Don’t answer unknown numbers. Con artists can’t trick you if they can’t get in touch.
Listen to your gut. If something seems off, protect yourself. If in doubt, check with your local election office.
Don’t provide information in response to an unsolicited message.
Do report suspicious activities to BBB’s Scam Tracker.

Visit BBB.org/Cybersecurity for more information to help voters understand and manage risks this election season.

Filed Under: Better Business Bureau, chamber of commerce, Charities, corpus christi business, corpus christi city council, corpus christi jobs, COVID-19 Virus, cybersecurity, hispanic chamber of commerce, Mortgages, property taxes, Retail Tax, windstorm insurance Tagged With: cybersecurity

PADRE ISLAND HOUSING REPORT – SEPTEMBER 2024

October 10, 2024 By Cheri Sperling

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

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

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

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

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

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

Filed Under: Better Business Bureau, buying a home, Corpus Christ Real Estate Data, Corpus Christi Foreclosures, home maintenance, Investment Property, Mortgages, Padre Island Business Association, Padre Isles POA, Palmilla Beach Resort and Golf Club, property taxes, Real Time MLS, realtors, selling a home, Whitecap Development Project, Whitecap NPI

PADRE ISLAND HOUSING REPORT – AUGUST 2024

September 23, 2024 By Cheri Sperling

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

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

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

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

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

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

Filed Under: buying a home, Corpus Christ Real Estate Data, Corpus Christi Schools, Mortgages, New Homes Padre Island, North Padre Real Estate, padre island events, property taxes, Real Time MLS, realtors, Whitecap Development Project, Whitecap NPI

Flood Preparedness & Safety Tips

August 26, 2024 By manager

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

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

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

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

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

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

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

– State Representative Todd Hunter, District 32

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

Filed Under: Barefoot Mardi Gras, Corpus Christ Real Estate Data, Local Schools, Mortgages, Padre Isles POA, property taxes, Real Time MLS, spring cleaning, Todd Hunter, Water Exchange Bridge, Whitecap Development Project, Whitecap NPI, windstorm insurance

Reduced Mortgage Rates Aren’t Enticing Buyers

August 4, 2024 By manager

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

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

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

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

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

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

Article created from NAR

Filed Under: Mortgages, North Padre Island Beaches, North Padre Island Marina, North Padre Real Estate, Padre Island Business Association, Real Time MLS, realtors, rentals, selling a home, Whitecap NPI, windstorm insurance

BBB Scam Alert

July 1, 2024 By manager

BBB Scam Alert: Young adults and recent graduates are common targets for employment scams!

The summer season is an exciting time for many young adults as they enter the workforce
following high school or college graduation. Unfortunately, not all job postings found online
are legitimate and many fraudulent employers specifically target young adults with entry-
level professional positions that offer a high salary and flexible working hours.
BBB’s 2023 Scam Tracker Risk Report found employment scams are the second riskiest
consumer scam in the nation with a median loss of $1,995 and a 5% increase in exposure
as compared to the previous year. In Texas, consumers reported more than $750,000 lost
to these scams since 2023. Across all age groups, employment scams tend to impact those
between 18-34 years old the most.

While the majority of reports BBB receives are regarding fraudulent employers promoting
data entry or package reshipment positions, graphic designer, secret shopper, and human
resources offers are also frequently used. All reports include a work-from-home or remote
working capability, often with flexible working hours and an hourly or monthly pay
significantly higher than standard.

Contact is made most often through email from someone claiming to represent a made-up
or impersonated company who came across the recipient’s email through a job board,
LinkedIn, or in response to an application they sent in. Shortly afterward, the conversation
will move to an online messaging system such as Skype or Telegram to arrange and
conduct an interview. The interview is conducted entirely through text and finishes with an
immediate job offer starting the very next day. After accepting the job offer, employment
scams progress down different paths depending on the position and industry.

To help identify fraudulent jobs for the most common types of positions, BBB provides the
following breakdown for two broad categories:
Data Entry, Administrative Assistant, Clerical or Secretarial Positions
Fake checks are a common tactic for these positions in an employment scam. Once an offer
is accepted, the scammer claims that the company will provide them with a check they can
use to set up their home office. The check is either emailed or mailed directly to the
employee’s address, and they follow instructions to deposit it into their account and provide
proof afterward.

Once deposited, the scam may progress down two different paths:
 The representative claims that a mistake on the check resulted in the employee
being overpaid. They often blame this on a logical typing error, such as accidentally
adding an extra zero, so $300 became $3,000. The scammer asks the new employee
to return the extra money immediately through a direct payment method such as
mobile banking app, gift card or wire transfer.
 The representative will direct the employee to a third-party vendor they must use to
purchase their office equipment. The website often appears legitimate, and the
employee can easily find all the required products. When it comes time to pay, the
total cost precisely matches the amount of money provided in the check, and the
employee inputs their banking information to finalize the purchase.
In either case, the victim's bank eventually detects the check as a fake, and the employee
loses the amount of money they returned or used to purchase the office equipment, which

is never received. When they try to contact the representative again, all messages go
unanswered and social media profiles previously used to establish credibility are
deactivated. Additionally, banks often freeze, or in worst cases cancel, the accounts
associated with a fraudulent or counterfeit check deposit as a precautionary measure,
resulting in additional challenges the victim must overcome when recovering.
Package Reshipment, Quality Inspection or Product Distribution Positions
All these positions require from an applicant is a valid home address and their time, making
them very appealing to a wide range of people. They often advertise a base monthly pay
between $2,000 – $4,000, with additional bonuses per package shipped to its next
destination. Most victims who encounter this scam receive and ship packages as they expect
until it comes time for their first paycheck – only they never receive any money. When they
attempt to log in to an employee dashboard, they find their account locked and all their
messages go unanswered.
According to the FBI, reshipping scams can involve con artists who use stolen credit cards to
buy expensive items. Instead of shipping the item directly to their address, they use a “re-
shipper” to send the package overseas. Package reshipment positions may also be handling
stolen goods or laundered money, resulting in victims of this scam unknowingly
participating in illegal activity.

Avoiding Employment Scams
Evaluate work-from-home opportunities. The transition to remote work has created
many opportunities for legitimate and fraudulent businesses. While many work-from-home
job openings are honest, it is essential to critically evaluate the hiring process of any
company offering this type of employment. Be wary of companies that require the applicant
to download a specific mobile app to communicate, conduct the entirety of the interview
through text or chat, or do not provide a physical address for the business.
Verify contact details. BBB recommends verifying that the address provided matches the
business and that the phone number is in service. It is common for scammers to use
addresses for vacant lots or other companies and a phone number that is either fabricated
or not in service. At a minimum, verify that at least two contact methods will get you in
touch with company representatives.

Research the company. Spend time researching a company's reputation and legitimacy
before agreeing to work for them. Check BBB.org to see if they are listed, and search online
for reviews from previous employees or customers. If the offer is coming from a well-known
company, check their official job board to verify the position is listed and use the posted
contact methods to reach out to the hiring team.

Be wary of immediate offers and start dates. Any pressure to sign or onboard
immediately indicates that the company may not be legitimate. Choosing a place to work is
an important decision that most legitimate companies understand requires time to consider.
Be especially wary if the position is offered without an interview or promises a significant
income if the employee pays for coaching, training or certifications. If the hiring team
threatens the job will go to the next candidate unless you make an immediate decision, it
might be best to walk away.
For more information visit BBB.org.

Filed Under: Better Business Bureau, buying a home, chamber of commerce, Charities, Golf Cart Rules, Hurricane Aide, Hurricane Hanna, Mortgages, mustang island, Packery Channel, property taxes, Scam Alert, selling a home, spring cleaning, Water Exchange Bridge, Whitecap Development Project, Whitecap NPI, windstorm insurance

PADRE ISLAND CORPUS CHRISTI HOUSING REPORT MAY 2024

June 24, 2024 By Cheri Sperling

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

Our active listing median prices have risen the past month to $495,000 which is actually a 8.7% increase from where it was compared to last May at this time! CCAR shows us the data that has risen for active listings by 63.8% with a total of 308 properties this past month compared to May 2023 while inventory also rose to 10.5 compared to 4.3 last year at this time.

Days on the market for sale rose this past month with an average of 92 days and the highest categories for sales with 47.4% of all the sales being priced between $500,000 – $749,999. The market is very stable so far into 2024 with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

Previous monthly figures for 2024 have seen 0.3% to 0.4% for both monthly and core inflation. Core inflation excludes food and energy price changes. For May’s figures now casts from the Cleveland Federal Reserve estimate that headline monthly inflation will be 0.08% and core inflation 0.3%.

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

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

Filed Under: buying a home, Corpus Christ Real Estate Data, Corpus Christi Foreclosures, Investment Property, Mortgages, New Homes Padre Island, padre island events, Park Road 22 Proposed Bridge, Real Time MLS, Water Exchange Bridge, Whitecap Development Project, Whitecap NPI

WE LOVE MAILBOX MONEY

June 8, 2024 By whitneynoble

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:

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.
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.
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.
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).
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

PADRE ISLAND HOUSING REPORT – APRIL 2024

May 23, 2024 By Cheri Sperling

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

Our active listing median prices have slightly dipped the past month to $460,000 which is actually a 17.4% increase from where it was compared to last April at this time! CCAR shows us the data that has decreased slightly for active listings by 71.3% with a total of 286 properties this past month compared to April 2023 while inventory Has stayed stable at 9.6 compared to 3.7 last year at this time.

Days on the market for sale decreased this past month with an average of 80 days and the highest categories for sales with 32.4% of all the sales being priced between $400,000 – $499,999. The market is still staying very stable so far into 2024 with properties available across many pricing areas. Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The April 2024 Consumer Price Index (CPI) report rose by a softer-than-expected 0.3% month-over-month (MoM) and 3.4% year-over-year (YOY). Inflation eased as smaller gains in services (e.g., food services) costs offset the continued strong rises in rent and gasoline prices.

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 March 2024 Data (Click Pic below for Larger Image)

Filed Under: buying a home, Corpus Christ Real Estate Data, Mortgages, North Padre Island, property taxes, Real Time MLS, realtors, selling a home, spring cleaning, Water Exchange Bridge, Whitecap Development Project, Whitecap NPI

Corpus Christi’s Long-Term Water Needs

May 5, 2024 By manager

Addressing Corpus Christi’s Long-Term Water Needs

By Drew Molly, P.E., Chief Operating Officer of CCW

We all need water to survive, and communities are no different. Without water, communities are not able to
grow and thrive, let alone survive, so its importance to all of us cannot be overstated.
As a coastal community, Corpus Christi has a long, rich history, but none of this would have been possible
without the availability of fresh water. For years, communities in the Coastal Bend have relied on rivers and
manmade reservoirs to meet all of their water needs. However, as more people and businesses have found
their way to our region, this has put greater demands on all public services, including the availability of water.
Only relying on Mother Nature to consistently provide enough rainwater for Corpus Christi to prosper and
grow is no longer a viable solution. This is especially the case when considering the prolonged drought in our
Nueces River Watershed, and the direct impact it has on the reservoir levels of Lake Corpus Christi and Choke
Canyon.

Unfortunately, both the near- and long-term outlooks for getting enough rainfall to address the ongoing water
shortage are not promising. This is why many communities in South Texas are looking at ways to secure
reliable, drought-proof sources of water. Corpus Christi is leading this effort by proceeding with plans to build
a seawater desalination plant along the Inner Harbor that, when operational, will supply up to 30 million
gallons of clean water daily.

Adding this amount of new water to the current system is significant, as CCW (Corpus Christi Water) is
responsible for supplying water to more than 500,000 people in seven counties in the Coastal Bend. The city’s
existing sources of water – the Nueces, Lavaca Navidad and Colorado rivers and related reservoirs – will
remain important, but the addition of a high-capacity desalination plant that consistently generates millions of
gallons of clean, drinkable water will positively counteract the impacts that droughts are having on the system.
It should also be emphasized that the Inner Harbor Seawater Desalination Treatment Plant will be a much
needed second water treatment plant. The entire region depends on one water treatment plant, which was
constructed in 1954 and had one additional treatment module added in 1981. While this facility continues to
operate well, it is time for the Region to add a second facility that provides a completely new and drought-
proof water supply.

The stakes are high, but much thought and research has gone into the process, which is nearly 20 years in the
making. Besides adding much-needed water to the local supply, the new desalination plant will be fully
integrated into the city’s existing infrastructure and regional system, as well as lead to improvements in the
local power grid and create an estimated 3,500 construction-related jobs.
This is all being done in a fiscally responsible, sustainable way that ensures we have a resilient water supply for
years to come. Great care is also being taken to be environmentally responsible. In short, we are utilizing
science and data to make sure the project is safe for sea life and will have minimal impact on our existing
waterways.

Bottom line, seawater desalination is a sustainable and responsible solution that not only helps us meet the
city’s current and future demands for water, but it also provides a reliable, cost-effective and drought-proof

source of water for years to come using technology that is currently being used worldwide by many other
communities. To learn more about this important project, visit www.desal.cctexas.com.

Filed Under: Better Business Bureau, Corpus Christ Real Estate Data, corpus christi, Corpus Christi Foreclosures, Holiday Parties, Hurricane Aide, Local Food, Mortgages, mustang island, North Padre Island, North Padre Real Estate, Padre Island Business Association, padre island events, port aransas, Whitecap Development Project, Whitecap NPI, windstorm insurance

NORTH PADRE ISLAND HOUSING REPORT – MARCH 2024

April 23, 2024 By Cheri Sperling

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

Our active listing median prices have risen the past month to $480,000 this past month which is an 13.6% decrease from where it was compared to last March at this time! CCAR shows us the data that is increasing for active listings by 82.9% with a total of 278 properties this past month while inventory Has risen at 9.8 compared to 3.1 last year at this time.

Days on the market for sale increased this past month with an average of 90 days and the highest categories for sales with 32.2% of all the sales being priced between $400,000 – $399,999. The market is still staying very stable 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

The consumer price index climbed 3.5% year over year in March, according to data released today by the Bureau of Labor Statistics, faster than February’s 3.2% pace. Economists surveyed by FactSet had expected an annual increase of 3.4%.

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 March 2024 Data (Click Pic below for Larger Image)

Filed Under: Better Business Bureau, buying a home, Corpus Christ Real Estate Data, home maintenance, Mortgages, New Homes Padre Island, North Padre Real Estate, port aransas, property taxes, Real Time MLS, realtors, selling a home, Whitecap Development Project, Whitecap NPI

Flourishing Trends: Texas Real Estate Market Soars in February 2024

March 24, 2024 By manager

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 Cheri Sperling

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)

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

NORTH PADRE ISLAND HOUSING REPORT – JANUARY 2024

February 15, 2024 By Cheri Sperling

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)

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

February 2024 Heart Health Month

February 4, 2024 By manager

The month of February is designated as Heart Month. This month strives to educate the
public about the importance of improving heart health. This endeavor aims to help people
identify and understand helpful adjustments that can be made to increase heart health. The term
“heart disease” refers to several types of heart conditions. In the United States, the most common
type of heart disease is coronary artery disease, which can lead to heart attack. You can greatly
reduce your risk for heart disease through lifestyle changes and, in some cases, medicine. There
are several everyday things that we can do in achieving healthier lives for 2024. With this
designation, both the American Heart Association along with the US Centers for Disease Control
and Prevention (CDC) have put out some great information.

Heart disease is the leading cause of death for men and women in the United States.
Every year, 1 in 4 deaths are caused by heart disease. The good news is that heart disease can
often be prevented when people make healthy choices and manage their health conditions.
Communities, health professionals, and families can work together to create opportunities for
people to make healthier choices. National trends show heart disease death rates are declining
more slowly than they have in the past, especially among adults ages 35 to 64. The CDC
Division of Heart Disease and Stroke Prevention and Million Hearts is focused on letting
younger adults know they are not immune to heart disease, but that they can reduce their risk—at
any age—through lifestyle changes and by managing medical conditions. For more information
and statistics about heart disease visit https://www.cdc.gov/heartdisease/index.htm.

Here are some tips from the CDC to take control of your heart health:
 Find time to be active. Aim for at least 150 minutes of physical activity per week.
 Make healthy eating a habit. Small changes in your eating habits can make a big
difference. Try making healthier versions of your favorite recipes by looking for ways to
lower sodium and trans-fat. Additionally, try to incorporate more fruits and vegetables.

 Quit tobacco. Smoking cigarettes and using other tobacco products affects nearly every
organ in your body, including your heart. Visit the CDC website for great tips on how to
quit. https://www.cdc.gov/tobacco/campaign/tips/quit-
smoking/index.html?s_cid=OSH_tips_D9385

 Know your numbers. High blood pressure and high cholesterol are major risk factors for
heart disease. Ask your health care team to check your blood pressure and blood
cholesterol levels regularly and help you take steps to control your levels.
 Stick to the “script”. Taking your medications can be tough, especially if you feel fine.
However, focusing on your medication routine is important for managing and controlling
conditions that could put your heart at risk.

The American Heart Association (AHA) is an organization that helps bring heart health
knowledge, leadership, and resources to all levels of government. Whether it is the federal, state,
or local level, the AHA identifies ways of educating the public and develops systems of care that
work to help acute conditions, which will result in helping to improve the patient’s outcomes.
Many of these systems coordinate impacted people to help them recover, while also improving
the cost-effectiveness of their care. These systems of care generally are tailored by more
localized methods that focus on certain regions of the nation and individual states. The
Association uses collected data that helps a seamless transition from each stage of care. It is with
these types of awareness and outreach that they hope will save lives. If you would like to learn
more information about healthy tips on cardiovascular health, you can visit the American Heart
Association’s website at www.heart.org .

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

– State Representative Todd Hunter, District 32

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

Filed Under: Barefoot Mardi Gras, Charities, corpus christi business, cybersecurity, home maintenance, Hurricane Aide, Hurricane Relief, Mortgages, North Padre Island, Padre Island Business Association, padre island events, Real Time MLS, realtors, rentals, Restaurants, selling a home, spring cleaning, Todd Hunter

NORTH PADRE ISLAND HOUSING REPORT – DECEMBER 2023

January 23, 2024 By Cheri Sperling

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

Our active listing median prices have risen the past month to $465,750 this past month which is a whopping 34% increase from where it was compared to last December at this time! CCAR shows us the data that is increasing for active listings by 59.4% with a total of 212 properties this past month while inventory Has risen at 6.6 compared to 2.5 last year at this time.

Days on the market for sale increased this past month with an average of 62 days and the highest categories for sales with 27.3% of all the sales being priced between $500,000 – $749,999. 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 for All Urban Consumers (CPI-U) increased 3.4 percent over the last 12 months to an index level of 306.746 (1982-84=100). For the month, the index decreased 0.1 percent prior to 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)

Filed Under: buying a home, Mortgages, New Homes Padre Island, North Padre Island, North Padre Island Marina, North Padre Real Estate, property taxes, Real Time MLS, realtors, selling a home, Whitecap Development Project, Whitecap NPI

BBB Tip: Five Resolutions For a Fraud-free New Year

January 4, 2024 By manager

The loss of money, personal information, and perseverance of scammers continue with online purchase scams as the riskiest of scams.

BBB recommends adding a few precautionary steps to the New Year’s resolution list and the weight loss and financial goals to help make the upcoming days and months fraud-free.

I resolve to be cautious with email. Be wary of unsolicited emails from a person or a company. Remember, scammers can make emails look like they are from a legitimate business, government agency, or reputable organization (even BBB!). Never click on links or open attachments in unsolicited emails.
I resolve never to send money to strangers. If you haven’t met a person face-to-face, don’t send them money. This is especially true if the person asks you to transfer funds using a pre-paid debit card or CashApp. Money sent to strangers in this way is untraceable, and once it is sent, there’s no getting it back. Scammers will try to trick you into panicking – so before making a move, think the situation through. Don’t fall for it!
I resolve to do research before making online payments and purchases. Research the retailer before entering payment information when shopping online, or if asked to pay online, research the retailer before entering payment information. Ask: Is this a person or business I know and trust? Do they have a working customer service number? Where is the company physically located? Would I be making payments through a secure server (https://….com)? Have I checked to see if others have complained?
I resolve to use my best judgment when sharing my personal information. Sharing sensitive personal information with scammers opens the door to identity theft. Never share financial information, birthdate, address, Social Security/Social Insurance number, or Medicare number with an unsolicited caller.
I resolve to be social media smart. Use privacy settings on social media and only connect with people you know. Be careful about including personal information in your profile, and never reveal your address and other sensitive information – even in a “fun” quiz. Scammers may use this information to make themselves pass as friends or relatives and earn your trust. Also, be careful when buying products you see on social media. BBB Scam Tracker has received thousands of complaints about misleading Facebook and Instagram ads.For more information

For more information

To learn more about scams, go to BBB.org/ScamTips. For more about avoiding scams, check out BBB.org/AvoidScams. If this scam has targeted you, help others avoid the same problem by reporting your experience at BBB.org/ScamTracker.

Filed Under: Better Business Bureau, cybersecurity, home maintenance, Hurricane Relief, Mortgages, Padre Island Business Association, padre island events, Water Exchange Bridge

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

December 3, 2023 By manager

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

BBB Business Scam Alert: Entrepreneurs beware of fake marketing services for small businesses

November 25, 2023 By manager

Small business owners are passionate, dedicated individuals who have accumulated years of
expertise in an industry. Through time and experience, they often have found ways to
improve processes and use that knowledge to the benefit of their customers and clients.
However, one aspect of business ownership they may not be as familiar with is marketing.
Many small business owners turn to marketing agencies and firms to handle their online
presence or advertisement needs. Unfortunately, the demand for these services opens the
opportunity for scammers to take advantage of small business owners. BBB Scam Tracker
receives multiple reports across the nation of phony businesses tricking small business
owners into signing monthly contracts for services that are never rendered.

How the Scam Works
A small business owner seeking a low-cost marketing service discovers a company that
offers exactly what they are looking for. The company may claim to offer public relations,
search engine optimization or other general marketing support for a low monthly fee, often
promising amazing results.

Once a small business owner signs up and submits payment, the company becomes difficult
to communicate with. They may constantly postpone or delay promised marketing
materials, such as social media posts, graphics or logos. In many cases, getting in touch
with the company once payment has been processed becomes nearly impossible and
attempts to cancel the service go unanswered, requiring the business owner to cancel the
card associated with the account.

How to Spot Fake Services
Research companies thoroughly before hiring. Spend the time to research and get to
know the company well before contacting them. Make sure their website is professional and
their social media accounts are real. Search for customer complaints and reviews about
their services on BBB.org. Legitimate marketing companies take pride in their digital
presence because it is often the most-requested service of their clients and provides an
opportunity to demonstrate their capabilities. Use this chance to evaluate how the company
positions or advertises itself and whether it would be a good fit for your business needs.
Check the contact information. If the company possesses both a social media presence
and a professional website, be sure to check for their contact information. If the company
has no telephone number or physical address, that is a sign it may not be legitimate. If a
telephone number is listed, call it to make sure it is in service and verify the physical
address is associated with the company name by searching online. Scammers will often use
the addresses for vacant properties for their own purposes.

Reach out to references. Reach out to the references provided by a company to verify
they have not been fabricated. Make certain it is possible to contact the people on the list
and research their names online to make sure they are real people with legitimate small
businesses. Keep in mind that online testimonials posted on websites or on some review
platforms can be fabricated. Learn more about BBB’s review vetting process on BBB.org.

Understand what you are paying for. A reputable company will be able to clearly
describe their services and the expected timeline to receive marketing materials before a
potential customer pays for those services. Spend the time to understand the services, their
scope, how they will be delivered (email, mail, social media posting, etc.) and when they
will be provided. If any of these elements are unclear or if details about payments are
vague, look elsewhere for services.

Use protected payment methods. Be cautious of any company that insists on payment
for services by wire transfers, gift cards or pre-paid debit cards. If someone demands
payment in one of these ways, it is probably a scam. Even if using a trusted company, BBB
recommends always paying with a credit card for the additional protections it provides in
case problems arise and you would like to dispute charges.
For more information visit BBB.org/BizHQ.

Filed Under: Better Business Bureau, chamber of commerce, Corpus Christ Real Estate Data, corpus christi business, corpus christi jobs, cybersecurity, hispanic chamber of commerce, Mortgages, North Padre Real Estate, padre island events, property taxes, Real Time MLS, Restaurants, Retail Tax, windstorm insurance

NORTH PADRE ISLAND HOUSING REPORT – OCTOBER 2023

November 13, 2023 By Cheri Sperling

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)

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

TEXAS HOUSING REPORT – AUGUST 2023

October 19, 2023 By manager

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 – AUGUST 2023

September 15, 2023 By Cheri Sperling

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

Our active listing median prices fell the past month to $389,000 this past month which is a 2.3% decrease from where it was compared to last August at this time! CCAR shows us the data that is rising for active listings by 41.8% with a total of 217 properties this past month while inventory Has risen at 5.6 compared to 2.8 last year during the month of August.

Days on the market for sale are increasing from last month with an average of 59 days and the highest categories for sales with 26.8% of all the sales being priced between $300,000 – $399,999 and $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, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

Headline Inflation measured by the Consumer Price Index (CPI) was 0.6 percent in August and 3.7 percent over the previous year. Both of these rates were higher than recent figures on inflation, and the main driver of the increase was the rise in retail gasoline prices in August. fuel provided 34 basis points, or slightly more than half, of the overall monthly CPI, which increased by 10.6 percent over the course of the month (the price of fuel has decreased by 3.3 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 August 2023 Data (Click Pic below for Larger Image)

Filed Under: Corpus Christ Real Estate Data, Corpus Christi Foreclosures, Mortgages, mustang island, New Homes Padre Island, North Padre Island, North Padre Real Estate, port aransas, property taxes, Real Time MLS, realtors, Upper Padre Island, Whitecap NPI

NORTH PADRE ISLAND HOUSING REPORT – JULY 2023

August 18, 2023 By Cheri Sperling

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)

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: north padre island, padre island new homes

NORTH PADRE ISLAND HOUSING REPORT – JUNE 2023

July 7, 2023 By Cheri Sperling

Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for June 2023. Our active listing median prices fell slightly the past month to $433,250 this past month which is 3.2 % increase than where it was compared to last June at this time!
CCAR shows us the data that significantly rising for active listings by 43.7% with a total of 217 properties this past month while inventory Has risen at 5.2 compared to 2.7 last year during the month of June.

Days on the market for sale are declining from last month with an average of 58 days and the highest categories for sales all with 22.2% of all the sales being priced between $300,000 – $749,999. The market is dramatically moving forward this summer the summer with properties available in many pricing categories. The North Padre Island’s newest development Whitecap NPI is nearly ready to start selling properties and we will have sales information shortly. The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in June on a seasonally
adjusted basis, after increasing 0.1 percent in May, the U.S. Bureau of Labor Statistics reported today. The monthly increase in all goods was primarily driven by the index for housing, which contributed more than 70% of the increase. Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment. We will watch mortgage rates carefully each month, but it actually has not hindered prices locally.

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 2023 Data (Click Pic below for Larger Image)

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi jobs, Mortgages, mustang island, New Homes Padre Island, North Padre Island, North Padre Island Beaches, North Padre Island Marina, North Padre Real Estate, Whitecap NPI Tagged With: north padre island

PADRE ISLAND HOUSING REPORT – MAY 2023

June 19, 2023 By Cheri Sperling

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)

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 Cheri Sperling

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)

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

Scam Alert: Home title fraud

April 27, 2023 By admin

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.
- Experian, 1-888-397-3742
- TransUnion, 1-800-680-7289
- Equifax, 1-800-766-0008
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.

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 Cheri Sperling

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)

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 – JANUARY 2023

February 21, 2023 By Cheri Sperling

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)

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

COUNTY COMMISSIONERS PASS RESOLUTION TO SUPPORT A 2nd BRIDGE TO PADRE ISLAND

January 24, 2023 By manager

The commissioners of Nueces County on Wednesday approved a resolution endorsing the building of a second bridge to Padre Island.

The second bridge’s location has not yet been made public.

TxDOT would be required to assist with the enormous project, which Mayor Paulette Guajardo estimated might cost up to $1 billion.

Brent Chesney, the commissioner for Nueces County’s Pct. 4, remarked, “It’s all about TxDOT, right?” “Because TxDOT has funding for projects, we need to move up the financing list. We need to go on even though we’re probably already behind other areas that require second causeways.”

The decision made on Wednesday is simply the beginning of the process, though.

Article Excerpt continued on KIIITV >>>>

Filed Under: Barefoot Mardi Gras, BeachWalk Development, chamber of commerce, Corpus Christ Real Estate Data, corpus christi city council, Harbor Bridge, Holiday Parties, Hurricane Relief, Mortgages, mustang island, Packery Channel

PADRE ISLAND HOUSING REPORT – DECEMBER 2022

January 15, 2023 By Cheri Sperling

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.

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)

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 Cheri Sperling

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)

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

PADRE ISLAND HOUSING REPORT – OCTOBER 2022

November 16, 2022 By Cheri Sperling

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)

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 Cheri Sperling

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.

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)

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

PADRE ISLAND HOUSING REPORT – AUGUST 2022

September 19, 2022 By Cheri Sperling

The housing market on Padre Island this year is like sitting in the shade in August; slightly cooler but still fairly warm. We are seeing some slowdown and some increase in new listings. We saw listed homes reducing – even before the Labor Day holiday this year.

It is true, that homes are starting to take a little longer to sell, and of course, that means sellers reducing their asking price. The pandemic led to a surge in demand as so many Texans wanted larger homes and more space. Millennial buyers also entered the market. The lower interest rates several months back enticed buyers into the market. We also saw a lot of activity in new home construction but also a lot of remodeling. Normally you see one or the other….not both at the same time.

Homes now are taking a little longer to sell. The elephant in the room will be what it will take to get inflation back in order. Typically, the more one fights inflation, the more likely you are to go into recession. Consumer confidence is slowing things down which is reflected in our housing sales. We have weathered downturns and crashes before. Even with the home price growth this past year we’ve experienced, we’re still relatively more affordable than the other coasts. August was a decent month on Padre Island. I believe the reduced price levels we’re at now are more reflective of where they’re going to be for a while.

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

Padre Island July 2022 Data (Click Pic below for Larger Image)

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

Padre Island Housing Report – July 2022

August 15, 2022 By Cheri Sperling

The Local Real Estate Market active listings have moved up to 29.3% the past month compared to last July at this time!
Corpus Christi Association of Realtors continues to show us the data that leans toward Prices slightly lowering by 5.9% in median price homes while months of inventory Has been rising the past month.

Days on the market for sale have lowered to an average of 41 days on the market. 35.6% of all the sales in March were priced between $300,000 – $399,999. The Median Price of homes has fallen by 5.9% to a price of $363,000 compared to the same month in 2021. The market is stable but cooling a bit as we head toward Labor Day, eyes will be on the fed as they will make another rate decision by end of next month and this could easily 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 July 2022 Data (Click Pic below for Larger Image)

Filed Under: buying a home, Corpus Christ Real Estate Data, Mortgages, New Homes Padre Island, property taxes, Real Time MLS, Water Exchange Bridge

HOW TO NAVIGATE THE MOST COMMON CHALLENGES IN A REAL ESTATE TRANSACTION

July 27, 2022 By whitneynoble

Those of you who have ever been a seller or a buyer in a real estate transaction likely know firsthand that the process can often be riddled with twists and turns. It is the job of your real estate professional to not only talk you through it all, but to bare the brunt of the stress for you by navigating the trenches on your behalf. Here is some advice for both buyers and sellers on what to expect of these three most common challenges.

Price

It’s no secret that sellers want the most for their property, and buyers would prefer a great deal.

Buyers: It can be fun to fantasize that the waterfront, east facing, fingtertip property in mint condition with a pool exists for pennies on the dollar. But, being unrealistic will only hurt your search and waste your time. Stick strictly to your budget and work with your top 3 must-haves. Then, be fair with an offer given the comps your agent can pull for you. This way you’re being fair to both yourself and the seller.

Sellers: Sit down with your agent and have the lengthy discussion that may be necessary to price your property properly. Compare past sales, run net sheets, look at all the numbers and know where you need to be to not only attract the most buyers, but to get what you need out of it. This will be helpful during negotiations as you’ll already know your bottom line.

Home Inspection

Inspections are the buyer’s way of performing due diligence on the property to know exactly what they’re getting in to. Inspections mark any and all deficiencies with the subject property, most importantly the ones concerning the “bones” (foundation, pipes, roof, etc), major systems (HVAC, plumbing, etc) and appliances. The buyer is permitted to make any desired repair requests of the seller after the inspection. If the parties cannot come to an agreement, the buyer is entitled to exercise their right to terminate during the time period prescribed and walk away from the deal without losing their Earnest Money Deposit.

Buyers: More often than not, you’re purchasing a previously owned home. Systems will very well be near their expected useful life, yet still functioning as intended. It can be unrealistic to expect a seller to replace said system. Be sure to ask that they do provide a very comprehensive residential warranty in exchange. New construction is more expensive for a reason.

Sellers: If something simply doesn’t work or is broken, it shows good faith to fix it or offer the buyer a comparable credit. Most inspectors will find the same deficiencies, so it’s in your best interest to work hard to compromise with a current buyer instead of letting a deal go and risk facing the same problem(s) with all future purchasers.

Financing and Appraisals

All the puzzle pieces have to fall in place for a borrower to secure a loan in time to close. Over the years, banks have significantly increased the paperwork requirements and scrutiny on buyers, and recent changes by the Consumer Finance Protection Bureau (CFPB) have changed the protocols between lenders and settlement agents. These cause difficulties for both parties. If a mortgage is involved, the bank must also complete an appraisal of the home. A satisfactory appraisal substantiates the agreed upon purchase price of the home. If the bank determines that the home’s value is less than the agreed upon purchase price, this can create problems. Without financing, there’s no deal and if there’s no deal, Earnest Money Deposit may be at risk.

Buyers: Refer to your agent for a local lender who is responsive and has a good reputation. Your pre-approval should be based on a detailed review of your financial accounts and include a credit check. Services offering “immediate” approvals that don’t require documentation should be avoided. Finally, do your homework while you’re searching for properties so that you’re ready to select your lender within a day or two of going under contract. When you find a property you love, ask your lender to prepare a few estimate sheets so you’re comfortable with the numbers and the type of loan that works best.

Sellers: Have your agent check in weekly with the buyer’s agent on how the loan process is coming along. You can even ask that they call the loan officer themselves and ask questions about what they have reviewed. Either way, you want confirmation that the lender is accessible and proactive with the file. An unresponsive lender makes life tough on the buyer and could cause possible delays, which is stressful on all. It happens, but constant communication will ensure there are no surprises and then even delays don’t seem as scary if everyone is informed on how the loan is moving along.

Having the knowledge that challenges will exist when buying or selling a home can make a world of difference. You may not control all the events that happen to you, but you can control how you react to them.

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

Padre Island Housing Report – June 2022

July 19, 2022 By Cheri Sperling

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.

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)

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 Cheri Sperling

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.

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)

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 Cheri Sperling

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)

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 Cheri Sperling

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)

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 – January 2022

February 13, 2022 By Cheri Sperling

The Local Real Estate Market has started the year off in a positive direction with prices!
As we monitor the market closely…The 2 notable areas to watch are the amount of inventory nearing lows, and a standard 30-year rate fixed mortgage up a little over 1% from last month as we eagerly await the FED’s decision by end of the 1st quarter regarding tapering and its possible impact on market conditions.

Days on the market for sale have decreased to an average of 68 days on the market. 39% of all the sales in January were priced between $300,000 – $399,999. The Median Price of homes has risen substantially by 23.6% to a price of $370,000. The market is certainly holding steady and it’s still a decent time to list your home with inventory still quite low and the spring buyers are already out looking.

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 2022 Data (Click Pic below for Larger Image)

Filed Under: Corpus Christ Real Estate Data, home maintenance, Local Schools, Mortgages, New Homes Padre Island, property taxes, Real Time MLS, realtors, selling a home

3 Things To Think About Before You Sell

January 15, 2022 By Cheri Sperling

It’s exciting to put your house on the market. It can also be nerve-wracking. How do you make sense of all the options and decisions? There are a few things to bear in mind:

Is it Time and Money Well Spent?

Be aware that you may not be able to recoup all of your remodeling costs when you sell your home with a remodeled 1970’s style bathroom for exampe. Some remodeling decisions, such as using out-of-style materials, make it more difficult to sell a home. Other improvements may be required to attract any reasonable offers. Additional considerations include the condition of surrounding homes for sale, the home’s price range, and whether current market conditions favor buyers or sellers.

What Benefits Every Household

It pays to keep your home clean, uncluttered, appealing, and free of small annoyances, regardless of its size, age, price, or location. A fresh coat of paint and a few potted plants go a long way toward making a good first impression. Sticking doors, an overgrown yard, or dripping faucets, on the other hand, can turn buyers off before they ever give your property a chance.

Don’t Mistake the Importance of This

Your asking price is perhaps the most crucial issue. A figure that is too high may discourage offers and leave the property unsold, while a number that is too low may create a bidding battle that drives offers higher than you ever imagined. Elements outside your control may also dictate price, such as market conditions and time constraints to sell.

Your REALTOR® is the trusted professional who can guide you through the entire process of selling your home.

Filed Under: buying a home, Corpus Christ Real Estate Data, home maintenance, Mortgages, New Homes Padre Island, realtors, rentals, selling a home, spring cleaning

Padre Island Housing Data – Dec 2021

January 11, 2022 By Cheri Sperling

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)

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

Padre Island Housing Data – November 2021

December 17, 2021 By Cheri Sperling

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)

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

Homeowners Uncertain About Selling Right Now

October 20, 2021 By Cheri Sperling

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.

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

HOW TO APPROACH FALL SALE’S SEASON!

October 3, 2021 By whitneynoble

It’s hot here on the Island…is an 80-degree day too much to ask for? Although it is nearing the end of what most may consider real estate’s “busy” season, that doesn’t mean buyers are going anywhere, and it doesn’t mean owners will stop listing their homes. The show must go ON! As the market is still quite active, it’s critical to take a look at your spending, whether you are the buyer OR the seller. Here are some smart tips on how to save and spend this season to continue to get the most out of the current market.

BUYERS:

DO NOT overpay. Unless you find yourself in a bidding war for the home of your absolute dreams, there is not a single home like it, and you do not plan to leave…ever. Note: Do not fall victim to the county appraisal district’s “appraised value” on the property. They have not visited the property, know the amenities, comparables, etc. If you want a far more accurate value, hire a reputable appraiser who actually visits the home and runs their own detailed determination of real value.

DO get an inspection. It’s worth the couple hundred dollars. Do your due diligence and know what you’re buying. If there is a deficiency on a large ticket item, it’s best to find out ahead of time so you can budget for it in the future or you can ask the seller to help right the wrong. You do not want to find these deficiencies later, once the sale is over, and you haven’t budgeted for them.

DO NOT make a lowball offer. Negotiating is normal, and it’s okay to not offer full price. But if you’re interested enough to make an offer, make sure it’s worth your time and the seller’s time. Your agent will be able to give their best advice as to what a good offer price would be, based on comparables and their knowledge of the market and area.

DO lender shop if you are not paying cash. Different lenders can offer different rates. Shop around, see with whom you can save and where.

DO NOT make large purchases prior to closing if you’re obtaining a loan. This is a huge expensive mistake, as it can alter your credit score and can actually take you from having loan approval to not. You can lose your property and in turn gain something of expense (whatever it was that you bought, albeit a car, boat, etc.).

SELLERS:

DO NOT remodel what won’t pay off. If you’re going to do some upgrading prior to listing your property, spend money in the kitchen. This is a room that’s important. Otherwise, less expensive updates you can do include painting, new hardware, fixtures and carpet. Gutting bathrooms and shellacking your garage floor is likely not worth the pay off.

DO price properly. Your listing agent will be able to guide you to a proper sales price, so use their knowledge! You’re paying them, after all. If your property is priced too high, it’s likely to not sell as quickly, wasting your money on months of bills, taxes, mortgage payments, etc., and likely not attracting the desired buyers who would be making offers.

DO NOT reject reasonable offers. Letting your emotions get in the way of your sale can be tough, but you do not want to push qualified buyers away because you’re not remembering that this is in fact business. At the very least, provide a counter offer.

DO disclose. If there are issues that you do know about, it’s the law to disclose known deficiencies. If you do not, this could turn in to a lawsuit. Now THAT is expensive!

Try to keep these Dos and Don’ts in mind while the summer comes to a close and the fruitful fall approaches, and you will be free from the most pricey mistakes that buyers and sellers tend to make. You work hard for your money, so keep your dollars where they will work for YOU!

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

Know Before You Owe

September 21, 2021 By Cheri Sperling

When you are a Buyer, knowledge is power. And The Consumer Financial Protection Bureau knows that. They have worked diligently to make the loan process more transparent. The forms discussed below (the Loan Estimate and Closing Disclosure) were introduced to present less confusing information as to ensure consumers understand the terms of their loan and the fees they’re paying. Know before you owe!

To walk the walk, you have to talk the talk. Here is the new lingo and the new forms.

Let’s talk Terminology:

A lender is now a “Creditor”

The Good Faith Estimate (GFE) is now the “Loan Estimate” or LE for short.

HUD or Settlement Statement is now your “Closing Disclosure” or CD for short.

The GFE was meant to provide the buyer with a really good idea of what they’d be bringing to closing and the terms of their loan. But the rules behind its successor, the LE, are stricter and provide higher financial accuracy to the buyer. It includes the interest rate, fees for both creditor and third-party services (ie: appraisals, title insurance, closing costs, etc.)

Before you do anything, shop around for a lender and get prequalified for a loan. There’s little advantage to visiting with a Real Estate Agent until you know what you can afford.

First, you get prequalified, then you work with a Realtor who finds you the perfect home, and then comes your Loan Estimate.

SIX ELEMENTS TO GET THE LOAN ESTIMATE

The consumer’s name
The consumer’s income
The consumer’s SSN to obtain a credit report (creditor shopping will NOT affect credit rating)
Property address
An estimate of the value of the property
The mortgage loan amount sought

CLARIFY!

The prequal is NOT a Loan Estimate. If the consumer/buyer requests a preapproval or prequalification and provides 5 of these 6 elements in their application, the creditor will provide the prequalification, but is not yet obligated to provide the LE.

Only when the consumer provides all six elements of the application, the creditor must get the LE to the consumer within 3 Federal Business days (if the creditor is open on Saturday, then Saturday counts). Once provided, the LE holds true for 10 days once a property has been determined.

The home does not actually have to be under contract at this point, but it greatly benefits the buyer if it is. Without knowing which title company the contract will be at, your creditor can’t know the exact fees. With the new LE, the liability and financial accuracy weighs much heavier on the creditor than it did in the past. So what if there are differences presented on your final CD than those on your LE? There are zero tolerance fees, and fees that fall between a 10% tolerance. So if there is a difference between your CD and your LE, depending on which category the miscalculation falls under, the creditor may have to pay.

Moral is, sellers want strong buyers. Preapproval from a creditor shows just that, which is why it’s critical to get that first. Present that to your Realtor, house hunt, get under contract, and request the LE. Leave the rest to your happy and knowledgeable Realtor.

We’ll leave the changes to the consummation (the new term for closing) for a later discussion…

Filed Under: buying a home, corpus christi, home maintenance, Mortgages, New Homes Padre Island, realtors, selling a home Tagged With: corpus christi homes, mortgages, new construction padre island

Net-Zero Home?

August 23, 2021 By whitneynoble

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

The Hidden Eviction Win at the Supreme Court

July 7, 2021 By Cheri Sperling

Hi All!

It has been a monumental week for the CDC eviction ban, and a flurry of media stories may have rightfully left folks a bit confused, to say the least!

So, let me try and break it down for us. Despite some misguided headlines, there actually was some excellent news this week on this very issue.

As you know, the Trump White House directed the Centers for Disease Control and Prevention (CDC) to act during the pandemic health emergency to ban all evictions nationwide. The CDC under President Trump and then President Biden extended the moratorium several times, most recently through July 31st.

With the National Association of REALTORS backing and guidance, the Georgia and Alabama Associations of REALTORS sued in federal court, claiming the CDC lacked statutory authority to ban all evictions.

The was a strategic decision by the National Association of REALTORS (NAR). In May, a federal judge struck down the ban as unlawful NATIONWIDE! Although the case was won, the judge issued a stay of her ruling pending an appeal by the government, of course!

With so many housing providers suffering under a financial strain, NAR immediately appealed to the D.C. Circuit Court and then to the Supreme Court to lift the stay.

Now, this is where it gets interesting. This week, four Supreme Court justices voted to end the stay immediately and, therefore, the eviction ban. They agreed with all the merits of the case – that the CDC acted unlawfully!

A fifth justice also agreed on the merits, BUT he wanted the ban in place through the end of July to allow more time for an orderly transition – if that makes sense.

The bottom line: A majority of Supreme Court justices are now on the record agreeing with the merits of the case that the CDC exceeded its existing statutory authority to bank all evictions.

So, even though the ban is here for a few more weeks, it is still a BIG win for property rights with the help of the National Association of REALTORS.

The CDC should not be able to do this again in a future emergence without going through Congress. AND, for the FIRST time, the CDC eviction bank is coming to an end.

At an Eviction Prevention Summit yesterday at the White House with Domestic Policy Advisor Susan Rice, she said ‘Following the CDC’s announcement last week of an instant, one-month extension of the eviction moratorium until July 31st, the Administration announced a series of actions to stabilize families and prevent evictions, including steps to encourage state and local governments to disburse the more than $46 billion in emergency rental assistance made available to assist households in need.’

NAR is pleased with the Administration’s effort to deploy rental assistance to struggling property owners much more speedily.

The NAR team fought for and helped secure billions in rental assistance in 2020. They reached almost every single member of Congress on the issue and held meetings with the White House. One of the most influential members of Congress said it would not have happened without NAR’s influence. GO, REALTORS!!! This is Who We Are…

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

Stock Trading Apps

June 24, 2021 By manager

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

Padre Island Housing Data May 2021

June 10, 2021 By Cheri Sperling

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)

Filed Under: buying a home, Corpus Christ Real Estate Data, Investment Property, Mortgages, New Homes Padre Island, Real Time MLS, realtors Tagged With: corpus christi homes, padre island homes, real estate data corpus christi

Padre Island Housing Data – March 2021

April 14, 2021 By Cheri Sperling

Priced Right properties are going like hotcakes!

Priced Right properties are going like hotcakes! As of TODAY there are only
17 waterfront homes on the market For Sale on Padre Island. Pricing ranges from $439,900 to $3,200,000. There are 39 condos For Sale on Padre Island.
Pricing ranges from $75,000 to $509,000. With properties selling at a record pace, buyers are frustrated with being outbid. Bidding wars are happening around the country. Supplies are limited. Mortgage rates have dropped and millions of millennials are entering their home-buying years.

People with dreams of owning a home could be in for a rude awakening. The spike is happening as a result of the pandemic, as more people work from home or near the coast. Should I buy a home? Should I sell my home? This is the million-dollar question.

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 2021 Data (Click Pic below for Larger Image)

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

Padre Island Housing Report January 2021

February 20, 2021 By Cheri Sperling

Market is still super hot as we head into 2021!
Low inventory, bidding wars, and with continued low interest rates 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 69 days on the market. 29.3% of all the sales in November were priced between $200,000 – $299,999. The market is certainly remaining strong 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 January 2021 Data (Click Pic below for Larger Image)

Filed Under: Corpus Christ Real Estate Data, Mortgages, North Padre Island, Real Time MLS, realtors

Did You Know How Much Mortgage Rates Can Help You?

February 9, 2021 By Cheri Sperling

When you look at interest rates there are so many advantages right now, let us share with you what Texas Real Estate is showing right now. Average U.S. mortgage rates started 2021 near historic lows and have hovered in that vicinity through January. That news has reached and encouraged buyers and sellers alike,this can seriously benefit your bottom line can provide valuable context for a homebuying decision.

The average rate for a 30-year fixed-rate mortgage was 2.77% as of January 21, according to Freddie Mac. The average was 3.62% in January 2020 and 4.46% in January 2019, 85 basis points and 169 basis points higher, respectively than the current rate. A buyer who purchases a $300,000 home at the average rate today would save just over $100,000 during the mortgage term compared to purchasing the same home two years ago—and the monthly payment would be almost $200 less.

Limited housing supply and low mortgage rates have contributed to increased competition and home prices, but the cost of borrowing money for a home is currently so low that buyers may be able to afford more than they would have one or two years ago.

Monthly mortgage rate averages stretching back to 1971 are available in MarketViewer (texasrealestate.com login required), the powerful data and market statistics tool available exclusively to Texas REALTORS® members. What a significant market advantage this is creating for all parties!

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

30-Year Fixed Mortgage Rates Fall to New Low: 2.78%

November 9, 2020 By Cheri Sperling

For the 12th time this year, mortgage rates have hit a record low. The 30-year fixed-rate mortgage fell to an average of 2.78%, the lowest ever recorded in Freddie Mac’s books dating back to 1971.

Sam Khater, Freddie Mac’s chief economist, attributed the record-low rates this week to “economic and political ambiguity.”

“Despite the uncertainty that we’ve all experienced this year,” he said, “the housing market, buoyed by low rates, continues to be a bright spot.”

Consumers are saving much more than they were before the rise of the pandemic—nearly 14% of their disposable income, according to the National Association of REALTORS®. Personal income also rose 6% in September compared to a year earlier. “With people saving more than ever before, home buying is more attractive, although home prices continue to rise,” writes Nadia Evangelou, a research economist, on NAR’s Economists’ Outlook blog. “Meanwhile, these ultra-low mortgage rates significantly lower mortgage payments, making housing more affordable than a year earlier in many areas.”

For example, in the Washington, D.C., metro area, home prices have jumped nearly 12% compared to a year earlier, Evangelou says. However, due to low mortgage rates, the monthly payment on a 30-year fixed-rate mortgage is lower than a year ago, averaging $1,820.

The housing market is also getting a boost from an improving job market. This week’s labor market report showed that the U.S. added another 638,000 in net job gains. The unemployment rate now stands at 6.9%. Since the April lockdown from the COVID-19 pandemic, about 12.1 million jobs have been recovered. Another 10 million jobs are needed to return to pre-pandemic levels, says Lawrence Yun, NAR’s chief economist. Residential construction and contracting trades added a major bulk of the jobs last month at 23,800, Yun says.

Freddie Mac reports the following national averages with mortgage rates for the week ending Nov. 5:

30-year fixed-rate mortgages: Averaged 2.78%, with an average 0.7 point, falling from last week’s 2.81% average. The previous all-time low for the 30-year fixed-rate mortgage was set in October with an average of 2.80%. A year ago, 30-year rates averaged 3.69%.
15-year fixed-rate mortgages: Averaged 2.32%, with an average 0.6 point, unchanged from last week. A year ago, 15-year rates averaged 3.13%.
5-year hybrid adjustable-rate mortgages: Averaged 2.89%, with an average 0.3 point, rising slightly from last week’s 2.88% average. A year ago, 5-year ARMs averaged 3.39%.

Freddie Mac reports average commitment rates along with points to reflect the total upfront cost of obtaining the mortgage.

Reported by Realtor Magazine

Filed Under: Corpus Christ Real Estate Data, Mortgages, Padre Island Business Association, property taxes, realtors, selling a home

CONSEQUENTIALLY CONTINGENT

September 22, 2020 By whitneynoble

The C word – it’s not well understood, so it’s not well liked. But, we should no longer feel the need to whisper it only in dark shadows after certain hours. Unless you’re a first-time home buyer or have been renting, there’s a chance you’ll need to sell your home before purchasing a new one. And the safest way for a buyer to do this is through a contingency. Let it be known, this is a beautiful risk and has pretty perks, so for those of you who see the glass half full, this one’s for you. For the rest, as they say, pour your liquid into a smaller cup and no longer fear this scenario.

What does it Mean?

By definition, it means a future event or circumstance that is possible but cannot be predicted with certainty. In real estate, this clause defines a condition or action that must be met in order for a real estate contract to become binding (as aforementioned, with a home sale contingency in place, the transaction is dependent upon the sale of the buyer’s home). The contingency becomes part of a binding sales contract when both parties agree to the terms and sign the contract.

Why is it Risky?

To Sellers: the main risk is that there is no guarantee that the home will sell. Before agreeing to a contingency, a seller may want to do their due diligence, for instance: is the home already for sale, is the list price attractive, what’s the sales time for homes in the neighborhood.

To Buyers: Buyers must still spend the same amount of money on home inspections, repair negotiations, appraisal fee (to name a few) and the buyer does not get these monies back if the deal falls through due to their property not selling on time. Also, because sellers are taking a gamble of sorts of the buyers ability to sell their current property, buyers need to make their offer as attractive as possible so that the seller will consider this risk.
What are the Benefits?

To Sellers: One major benefit is that the home can continue to be shown, and the seller can continue to receive offers. If the seller accepts a written offer, the seller is required to notify the buyer of such acceptance. Per the contract, the buyer has a specified amount of time (say, 2-3 days) to either remove the contingency and put down additional earnest money, or the contract terminates automatically and the earnest money is refunded to the buyer. A home sale contingency might also be a good thing if the seller has had the property on the market for a while and is unable to find a buyer. A contract with a contingency is still a contract, and there is a chance that the property will sell.

To Buyers: A home sale contingency gives buyers the opportunity to not miss out on the home they want, while allowing them time to sell their property. This way, buyers can avoid owning two homes and holding two mortgages at one time while waiting for their own home to sell. A home sale contingency can allow the buyer to sell their property with peace of mind knowing their next purchase is already in motion.
Why is it Misunderstood?

Many may only see the risks and not truly understand the benefits. Home sale contingencies protect buyers who want to sell one home before purchasing another. Upon receiving or writing a contract involving a contingency, it is important to review and understand the terms of the sale. This is something your real estate agent should be able to explain in detail to you. Fear not the world of contingencies, as knowledge is power!

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

Padre Island Housing Report – August 2020

September 7, 2020 By Cheri Sperling

At The End of August, the median sale price on residential homes was 335,000 which is an increase of 17.1% over last month here on Padre Island compared to last year at this time.

We are still trucking along here with many developments either under construction or set to go. The last round of approved funding was committed for the new Park Road 22 Bridge which is set to begin construction shortly.

Days on the market for sale has decreased to an average of 91 days on the market. 29.2% of all the sales in August were priced between $200,000 – $299,999. Closed Sales were up an incredible 69% in the month of August. The market is absolutely scorching right now, there are still some great bargains out there and with the interest rates still holding its a great time to find that dream home you have been waiting for.

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

Padre Island August 2020 Data (Click Pic below for Larger Image)

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

BE PREPARED: FORECLOSURE AUCTIONS

July 5, 2020 By admin

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

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

1. Bring the funds with you. This must be in the form of cash or a cashier’s check.

No personal checks, pre-approval letter, or nana’s famous carrot cake. These won’t cut it.

Because you pay directly on the spot upon winning, you don’t want to overpay as it will take approximately 30 days to get that refund. Instead, if you’re coming with a cashier’s check, come with multiple denominations so that you can add them together to create the appropriate amount. Also, have them made out to you so you can deposit the leftover checks back into your bank account. If you win, you simply sign them over.

If, however, you are in an online auction, you have a bit longer to come up with the funds.

*Some companies charge a percentage of the final sales price as a buyer’s fee. Be sure to ask about this, or read the fine print.

2. Do your research: Foreclosures are sold “AS IS, WHERE IS, NO PROMISE OF ANYTHING.”

There is no guarantee of a clear title, functioning plumbing, electrical, structural issues, etc. You must do your due diligence to make sure you know what you may be purchasing. Liens on properties are public record and can be found online or at the local courthouse. Do not skip this step!

3. Opening bid does not necessarily mean you can get the property at that price.

This number is normally set by the foreclosing lender, and it is usually the assessed loan amount owed to the lender. Sometimes, the opening bid is simply an estimated minimum by law that includes only taxes delinquent on the date of judgment, or a number that the creditor believes will spark interest. This minimum bid can be just a tool to get the bidding ball rolling – but if the bids do not reach the creditor’s bottom line, then the property will not sell and will go back to the creditor to do with it what they choose.

4. Purchasing an occupied foreclosure.

If the owner does not vacate the property after the foreclosure sale, as the new owner, YOU must give them a formal notice to move out. If they do not, you have the right to bring on an eviction lawsuit. If the person occupying the property is a tenant of the former owner, a different form of action must be taken. There are certain laws that actually protect these types of tenants. It all comes back to doing your research before you purchase so you know what you’re getting yourself into.

5. If you’re the one bidding, you’re the one buying.

There is an exception: By signing a Power of Attorney, you may appoint a representative to bid on your behalf. Sometimes, auction companies may offer live remote bidding by telephone through an auction representative or have live Internet bidding capabilities. There are options if you are unable to attend an auction.

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

Auctions in Texas are the first Tuesday of every month, on the south side of the County Courthouse. The auction may only last 10 minutes total, so be timely, or you may miss the whole thing!

With that said, Texas law requires a three-hour window from the time given on the auction notice and when the auction actually takes place.

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

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

Padre Island Housing Report – April 2020

May 21, 2020 By Cheri Sperling

Sellers Are Holding Eager Buyers Back as State Reopens:

This pandemic doesn’t appear to be spooking some potential homebuyers away. Sporting masks and gloves, they’re beginning to preview homes in person. BUT it is home sellers who may be keeping them back, from what we’re seeing.

We’ve started finding buyers ready, willing, and able, and some sellers have been the ones who have pulled their properties, changed their minds – at this time.

Yes, you can see April new listings plunged through the week of May 2nd. It seems the number of properties on the market had kind of paused.

Many buyers increased their online looking of properties using virtual tools. Good real estate professionals stepped up offerings of 3D and virtual tours online as well as video walkthroughs in real-time to interested buyers. Real estate professionals would visit the properties and walk around the property over a live video chat with their interested buyer.

But, we believe as states start to reopen more so, more homebuyers may be wanting to see those properties in-person. They are willing to take proper steps to wear masks and definitely social distancing. Times are changing folks – and your true professionals are ready for you.

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 2020 Data (Click Pic below for PDF)

Filed Under: buying a home, Corpus Christ Real Estate Data, COVID-19 Virus, Mortgages, realtors, selling a home

TWIA News 2020

May 6, 2020 By Cheri Sperling

TWIA NEWS…….

Windstorm Certificates of Compliance (WPI-8’s & WPI-8-Cs) are an important eligibility requirement for TWIA as well as some private insurance companies. The process for coastal property owners to certify completed structural improvements will change next month. The process to certify new and ongoing improvements will not change.

WHAT’S CHANGING?

Beginning June 1, 2020, the windstorm certification process, the process that produces a Certificate of Compliance (WP1-8), will be administered solely by the Texas Department of Insurance (TDI). At that time:

TWIA will stop accepting applications for Certificates of Compliance for completed improvements. • May 31, 2020 is the last day TWIA will accept applications for Certificates of Compliance. Paper applications mailed to TWIA must be postmarked on or before that date for them to be processed by TWIA. • TDI will begin issuing Certificates of Compliance for completed improvements. TOI will continue to issue Certificates of Compliance for new and ongoing improvements.

This change and effective date are required by legislation passed in 2019 by the Texas Legislature (Senate Bill 615 and House Bill 1900). HOW WILL THIS BENEFIT PROPERTY OWNERS? TD1 already administers the Windstorm Inspection Program and is a regulatory agency. Consolidating the certification process and TD1 will:

Reduce property owner confusion on where to obtain a Certificate of Compliance. • Provide additional oversight to the certification process for completed improvements.

Make all future Certificates of Compliance searchable on the TDI online database. Property owners with a Certificate of Compliance issued by TWIA (WPI-8-C) can contact TWIA for a copy.

WILL TWIA CERTIFICATES OF COMPLIANCE (WPI-8-C) STILL BE VALID AFTER JUNE 1?

Yes. Certificate of Compliance issued by TWIA will remain valid and property owners will not have to recertify those same structures to remain eligible for TWIA insurance, unless they update the structures after being certified.

QUESTIONS?

To learn more, please read these frequently asked questions, available on the TWIA website. One may also visit Changes at TWIA webpage for additional details about this and other legislative changes affecting TWIA.

Filed Under: home maintenance, Hurricane Aide, Hurricane Relief, Mortgages, North Padre Island, property taxes, realtors, selling a home, windstorm insurance Tagged With: texas windstorm insurance association

Texas Quarterly Housing Report for 1st Quarter of 2020

April 29, 2020 By Cheri Sperling

Homes sales and median home prices across Texas experienced a moderate increase in the first quarter of 2020, according to the 2020 Texas Quarterly Housing Report released Wednesday by Texas REALTORS®. Although this time period includes the beginning stages of the COVID-19 outbreak, the statistical representation of its impact on the Texas housing market will be made more apparent in the second and third quarters of the years.

The housing statistics for the first three months of the year show the continuation of more than a decade of growth in the Texas housing market. However, the rapid growth of the ‘global’ pandemic we are facing is poised to affect this momentum. Before this unprecedented event and the economic downturn and shelter-in-place orders, our biggest market concern was the lack of affordable housing to meet the demand.

during the first quarter of 2020, 75,052 homes were sold in Texas. Statewide, the median price increased by 5.1% to $241,500. The largest percentage of homes sold ACROSS the state was in the $200,000-$299,000 price range.

Because of COVID-19, many sellers have been pulling their listings to wait out the quarantine. This will only add to our housing shortage and strained inventory availability. Sales are anticipated to drastically drop. In the long-term, there will be continued demand within the Texas housing market as long as the job market is able to rebound quickly they are saying.

The good news is we went into the disruption with positive velocity and will be ready to come out the other side with a swift recovery. In the meantime, opportunities are everywhere, and we Texans always outperform expectations

Filed Under: buying a home, Corpus Christ Real Estate Data, COVID-19 Virus, home maintenance, Mortgages, property taxes, Real Time MLS, realtors, selling a home

Padre Island Housing Report March 2020

March 12, 2020 By Cheri Sperling

The end of February, the median sale price on homes was 326,500 which is an increase of 2.9% over last month here on Padre Island.

New land development projects continue to increase with the building of a new Starbucks Coffee house at the development near the JFK causeway bridge called packery pointe.

Days on the market for sale has decreased to an average of 93 days on the market. 31.8% of all the sales in February were priced between $300,000 – $399,999. Closed Sales were flat 0% in the month of February. The market is a bit soft but spring is nearly here!

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 2020 Data (Click Pic below for PDF)

padre-island-housing-report-december-2019

Filed Under: buying a home, Corpus Christ Real Estate Data, Mortgages, mustang island, New Homes Padre Island, North Padre Island, Park Road 22 Proposed Bridge, property taxes, realtors, selling a home

Padre Island Housing Report February 2020

February 12, 2020 By Cheri Sperling

The end of January, there were many available properties for sale on Padre Island

Days on the market for sale has increased to an average of 148 days on the market. 41.2% of all the sales in January were priced between $200,000 – $299,999. Closed Sales were up 43.2% in the month of January. The market is certainly on it’s way up.

Interest rates are supposed to remain low. We will be updating buyers with the increase of new loan programs are coming out. Lots of new development projects are happening on Padre Island including the New Park Rd. 22 which has gone through its final approval at City Council and construction should begin sometime after spring break.

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 2020 Data (Click Pic below for PDF)

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

Padre Island Housing Report October 2019

November 9, 2019 By Cheri Sperling

After a disappointing September, October median list pricing has gone up a bit. Thanks to climbing earnings, expanding jobs and low mortgage rates, according to the latest National Association of REALTORS report sales throughout the US have gone up however Padre Island’s closed sales went down 12.7%.

Historically low interest rates, continuing job expansion, higher weekly earnings and low mortgage rates are undoubtedly going to cause higher sales.
It is nice to see home list prices starting to rise again. Let’s hope these conditions continue to remain favorable for real estate investment on Padre Island.

Cheri Sperling is 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 are the most knowledgeable real estate office on Padre Island. No pressure style, patience, and intimate understanding of the local market. They go to work for you!

Padre Island October 2019 Data (Click Pic below for PDF)

padre-island-housing-report-september-2019

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

REAL ESTATE TRENDS IN 2019

July 6, 2019 By whitneynoble

Now that we’re halfway through the year, 2019 is revealing some trends that may interest any of you potential seller(s) or buyer(s). And some may surprise you! I’ll skip the hashtags and rhetoric, and get straight to them.

PRICES ARE RISING. Albeit slowly, but they are on the up. Isn’t that why we own? Real estate is meant to be an appreciating asset, so this makes us happy. For sellers, this means you can expect to net a little more than perhaps you expected. As mom would say, don’t spend it all in one place. But, be aware of the competition, price accordingly, and do not get discouraged if you’re not getting as much activity as you’d like. Due to higher prices, there may be fewer buyers and therefore fewer showing appointments and offers. Be patient, it will come. Because, what this means for buyers is…you need to save a bit longer and perhaps sacrifice a “want” or two. Concentrate more on your “needs” than “what would be nice” in a home. Be in close touch with your lender, understand the numbers, what is expected of you throughout the process, and take the time to save up for what it is you want.

MILLENNIALS! Don’t cringe, they are your friends…they are your BUYERS! Move aside, baby boomers and Gen Xers! The Millennials are now older, have stable careers, and currently account for roughly 45% of home purchases! This so happens to be at a good time, as baby boomers are downsizing and/or retiring. As a seller, keep these things in mind when speaking to your agent about marketing. Millennials shop online – be sure your hired agent has taken professional photos, has spent quality time on a detailed property description, and truly knows about your home, as once it gets input in to the local MLS, the internet sites such as Zillow, Trulia, and the like pick it up. If it doesn’t look or sound enticing, they’ll quickly move on. If you can, prep your home to be more energy efficient and maintenance free as possible. We’re seeing a movement toward quality over size, so declutter, brighten up, and maybe replace that oven with one that can be operated by a phone application. Buyers, know what you want and be quick when you are in fact ready…if you like it, your friends will, too! And do not forget to use an experienced real estate agent. It is a free service to YOU!

We’ve talked on this topic before, but the interest rates are higher than they’ve been in recent years’ past. Despite grumblings, it’s actually a good thing! To help stabilize the strong economy and rising inflation during the past few years, the Federal Reserve increased short-term interest rates. It’s somewhat natural to see a trickle-down effect to the bank level like what we’re seeing now with mortgage interest rates. What it means in short is that more people are willing to spend and borrow money. We just need to know how to react to this as a seller and a buyer. Sellers, your home may be on the market a bit longer, so plan for this by maybe listing a bit earlier than you may otherwise would have wanted to. Your best bet is to hire a local agent who understands the current market. They’ll help you set expectations for how much you can make and how long you’ll have to wait for the right offer. Buyers, taking out a mortgage is like getting married – you’re going to be together a long time! It’s normal to need to take a moment to make this commitment, especially when the rates are higher than they may have wanted. Believe it or not, rates are still relatively low. If you’re not buying with cash, check with your lender on the terms of a conventional 15-year fixed-rate mortgage. You may find that route beneficial.

Maybe all this sounds great, but you currently have no interest in selling or purchasing. It’s still good news for you! Prices are supposed to continue to steadily increase by 2-6% by 2020. People are spending money, employment rates are high, and cash-buyers are becoming more common. There is no reason to believe a crash is anywhere in sight. So kick your feet up and breathe easy!

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

Padre Island Housing Report May 2018

June 10, 2018 By Cheri Sperling

THE HOUSING MARKET IS REALLY PICKING UP STEAM AS SUMMER HEATS UP HERE ON NORTH PADRE ISLAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 200-400K RANGE STILL, WHICH COVERS THE MAJORITY OF THE MARKET. TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND. CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO A GREAT SUMMER 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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

Padre Island Housing Report – April 2017

May 7, 2017 By Cheri Sperling

THE HOUSING MARKET CONTINUES TO BE HEATING UP AS WE MOVE INTO SUMMER TIME OF 2017, THE HOTTEST TIME OF THE YEAR. TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND IN CORPUS CHRISTI, TX. CLICK ON THE PICTURE BELOW AND GET A FULL PDF TO PRINT OUT TO KEEP TRACK OF THIS DATA. LOOKING FORWARD TO AN EVEN MORE EXCITING SUMMER AHEAD, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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

6 Smart Reasons to Buy a Home in 2016

January 4, 2016 By Cheri Sperling

Is it really 2016 already? For those of you who happen to be planning on buying a home in the new year—or even just trying to—there’s a whole lot to celebrate. Why? A variety of financial vectors have dovetailed to make this the perfect storm for home buyers to get out there and make an (winning) offer. Here are six home-buying reasons to be thankful while ringing in the new year:

Reason No. 1: Interest rates are still at record lows

Even though they may creep up at any moment, it’s nonetheless a fact that interest rates on home loans are at historic lows, with a 30-year fixed-rate home loan still hovering around 4%.

“Remember 18.5% in the ’80s?” asks Tom Postilio, a real estate broker with Douglas Elliman Real Estate and a star of HGTV’s “Selling New York.”“It is likely that we’ll never see interest rates this low again. So while prices are high in some markets, the savings in interest payments could easily amount to hundreds of thousands of dollars over the life of the mortgage.”

Reason No. 2: Rents have skyrocketed

Another reason home buyers are lucky is that rents are going up, up, up! (This, on the other hand, is a reason not to be thankful if you’re a renter.) In fact, rents outpaced home values in 20 of the 35 biggest housing markets in 2015. What’s more, according to the2015 Rent.com Rental Market Report, 88% of property managers raised their rent in the past 12 months, and an 8% hike is predicted for 2016.

“In most metropolitan cities, monthly rent is comparable to that of a monthly mortgage payment, sometimes more,” says Heather Garriock, mortgage agent for The Mortgage Group. “Doesn’t it make more sense to put those monthly chunks of money into your own appreciating asset rather than handing it over to your landlord and saying goodbye to it forever?”

Reason No. 3: Home prices are stabilizing

For the first time in years, prices that have been climbing steadily upward are stabilizing, restoring a level playing field that helps buyers drive a harder bargain with sellers, even in heated markets.

“Local markets vary, but generally we are experiencing a cooling period,” says Postilio. “At this moment, buyers have the opportunity to capitalize on this.”

Reason No. 4: Down payments don’t need to break the bank

Probably the biggest obstacle that prevents renters from becoming homeowners is pulling together a down payment. But today, that chunk of change can be smaller, thanks to a variety of programs to help home buyers. For instance, the new Fannie Mae and Freddie Mac Home Possible Advantage Program allows for a 3% down payment for credit scores as low as 620.

Reason No. 5: Mortgage insurance is a deal, too

If you do decide to put less than 20% down on a home, you are then required to have mortgage insurance (basically in case you default). A workaround to handle this, however, is to take out a loan from the Federal Housing Administration—a government mortgage insurer that backs loans with down payments as low as 3.5% and credit scores as low as 580. The fees are way down from 1.35% to 0.85% of the mortgage balance, meaning your monthly mortgage total will be significantly lower if you fund it this way. In fact, the FHA predicts this 37% annual premium cut will bring 250,000 first-time buyers into the market. Why not be one of them?

Reason No. 6: You’ll reap major tax breaks

Please, Mr. Postman Tax laws continue to favor homeowners, so you’re not just buying a place to live—you’re getting a tax break! The biggest one is that unless your home loan is more than $1 million, you can deduct all the monthly interest you are paying on that loan. Homeowners may also deduct certain home-related expenses and home property taxes.

via realtor.com

Filed Under: buying a home, Corpus Christ Real Estate Data, Mortgages, New Homes Padre Island, North Padre Island, Padre Island Business Association, Park Road 22 Proposed Bridge, selling a home

5 Real Estate Trends That Will Dominate 2016

December 21, 2015 By Cheri Sperling

real-estate-2016

This year may have marked the best for housing since 2007, but the market will likely get even rosier in 2016, according to a recent real estate forecast by realtor.com®. One of the main drivers behind the brighter 2016 is the projection that employment will continue to grow, which will add to consumers’ wallets and allow them to purchase their first home or upgrade to a new one. Realtor.com® highlights the following housing predictions for 2016:

‘Normal’ is coming.

Expect a healthy growth in home sales and prices – at a slower pace than in 2015. “This slowdown is not an indication of a problem—it’s just a return to normalcy,” writes Jonathan Smoke, realtor.com®’s chief economist. “We’ve lived through 15 years of truly abnormal trends, and after working off the devastating effects of the housing bust, we’re finally seeing signs of more normal conditions.” New construction and distressed sales are expected to return to more historical levels, and home prices are expected to follow at “more normal rates consistent with a more balanced market.”

Generational buying trends shape up.

Young adults’ presence on the housing market has been largely predicted for years, but 2016 may finally be the year they make a move in a larger way. Millennials represented nearly 2 billion sales in 2015 – one-third of home buyers. They are expected to continue to be a major buying pool in 2016 with the majority of buyers between ages 25 and 34 expected to be first-time home buyers next year. But two other generations will also have a big presence in 2016: financially recovering GenXers and older baby boomers who are entering retirement, realtor.com® notes. “Since most of these people are already homeowners, they’ll play a double role, boosting the market as both sellers and buyers,” Smoke notes. “Gen Xers are in their prime earning years and thus able to relocate to better neighborhoods for their families. Older boomers are approaching (or already in) retirement and seeking to downsize and lock in a lower cost of living.”

New-home construction focuses more on affordability.

Builders have been faced with higher land costs, limited labor, and concerns about the demand of the entry-level market. As such, they have shifted to constructing more higher-priced homes, which has caused new-home prices to rise significantly faster than existing-home prices. In 2016, they likely will shift to more affordable product to cater to the entry-level buyers. “We are already seeing a decline in new-home prices for new contracts signed this fall,” notes Smoke. “In addition, credit access is improving enough to make the first-time buyer segment more attractive to builders.”

Higher mortgage rates.

Mortgage rates will likely be volatile in 2016. But the recent move by the Federal Reserve to guide interest rates higher should push mortgage rates higher in the new year than the historical lows they have been at for years. The 30-year fixed-rate mortgage will likely end 2016 about 60 basis points higher than today’s level. “That level of increase is manageable, as consumers will have multiple tactics to mitigate some of that increase,” Smoke says. “However, higher rates will drive monthly payments higher, and, along with that, debt-to-income ratios will also go higher.” The markets with the highest home prices will see the effects from the higher rates the most.

Rents to go up even higher.

Rental costs are skyrocketing, and the costs are likely to only go up in the new year. More than 85 percent of the nation’s markets have rents that exceed 30 percent of the income of renting households. “Rents are accelerating at a more rapid pace than home prices, which are moderating,” Smoke says. “Because of this, it is more affordable to buy in more than three-quarters of the U.S. However, for the majority of renting households, buying is not a near-term option due to poor household credit scores, limited savings, and lack of documentable stable income of the kind necessary to qualify for a mortgage today.”

Source: “The 5 Real Estate Trends That Will Shape 2016,” realtor.com® (Dec. 16, 2015)

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

Major Changes Coming to Mortgage Disclosures

July 3, 2015 By whitneynoble

THANK YOU FOR YOUR PATIENCE

“Patience is power. Patience is not an absence of action; rather it is “timing”

it waits on the right time to act, for the right principles and in the right way.”

― Fulton J. Sheen

Come October 1, there are major changes coming to mortgage disclosures that I would like to share with you. Buyers, sellers, loan officers, title companies and real estate agents will all be affected.

No longer will there be a HUD-1 Settlement Statement or a Good Faith Estimate from a buyer’s lender. Both forms are going “bye-bye,” as is the Truth in Lending Act (TILA) disclosure form. Replacing them are two new forms: the Closing Disclosure and the Loan Estimate.

Why does this affect anyone aside from those on the real estate, lender, title side? Because there are also new rules for the closing procedure, where the buyers and sellers tolerance come into play, as closing delays are almost unavoidable for the first few months.

One rule requires all forms to be ready three (business) days prior to closing. The National Association of Realtors recommends all closing documents are actually ready an entire week prior to closing, or “consummation” as is the new verbiage (yes, chuckling is OK). So if everything is ready seven days prior to consummation, when you go into the three-day period, there are likely no changes to make. Because making changes as the countdown ensues comes with a cumbersome set of hurdles.

Everyone involved in the transaction is under pressure to get everything squared away earlier than in the past. Currently, the settlement statement can be completed and approved just hours before closing. Gone are those days. And as aforementioned, the buyers and sellers have to be cooperative, because if last-minute changes are made, a new three-day waiting period kicks in. Are there exceptions you ask? Yes! Bona fide financial emergencies such as the imminent sale of the consumer’s home at foreclosure. Any financial emergency must be accompanied by a written statement and will be very fact intensive.

The good news is, this doesn’t affect cash buyers, and many Realtors, Lenders, and Title Companies are taking the time and courses to get familiar with this new system and forms so we are ready! Communication will be KEY. But patience, grasshopper, good things come to those who wait.

Filed Under: buying a home, Corpus Christ Real Estate Data, corpus christi business, Mortgages, selling a home

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

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

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

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

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

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

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

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

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

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

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

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

The loss of money, personal information, and perseverance of scammers continue with online purchase scams as the riskiest of scams.

BBB recommends adding a few precautionary steps to the New Year’s resolution list and the weight loss and financial goals to help make the upcoming days and months fraud-free.

For more information

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

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

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The housing market on Padre Island this year is like sitting in the shade in August; slightly cooler but still fairly warm. We are seeing some slowdown and some increase in new listings. We saw listed homes reducing – even before the Labor Day holiday this year.

Padre Island July 2022 Data (Click Pic below for Larger Image)

Padre Island July 2022 Data (Click Pic below for Larger Image)

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.

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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.

Padre Island March 2022 Data (Click Pic below for Larger Image)

Padre Island January 2022 Data (Click Pic below for Larger Image)

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

Padre Island December 2021 Data (Click Pic below for Larger Image)

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.

Padre Island November 2021 Data (Click Pic below for Larger Image)

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.

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.

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.