PADRE ISLAND HOUSING REPORT – OCTOBER 2024

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)

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PADRE ISLAND HOUSING REPORT – SEPTEMBER 2024

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

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

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

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

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

 

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

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

PADRE ISLAND HOUSING REPORT – AUGUST 2024

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

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

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

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

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

 

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

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

Blood Cancer Awareness Month

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

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

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

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

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

If you would like to review more about the legislature, please visit the Texas Legislature
Online. If you have questions regarding any of the information mentioned in this week’s article,
please do not hesitate to call my Capitol or District Office. As always, my offices are available at
any time to assist with questions, concerns, or comments (Capitol Office, 512-463-0672; District
Office; 361-949-4603).

– State Representative Todd Hunter, District 32

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

PADRE ISLAND HOUSING REPORT – JULY 2024

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

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

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

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

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

 

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

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

Reduced Mortgage Rates Aren’t Enticing Buyers

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

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

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

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

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

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

Article created from NAR

Padre Island – Corpus Christi Update July 2024

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

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

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

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

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

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

WE LOVE MAILBOX MONEY

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

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

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

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

WHAT:

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

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

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

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

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

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

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

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

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

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

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

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

PADRE ISLAND HOUSING REPORT – APRIL 2024

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)

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NORTH PADRE ISLAND HOUSING REPORT – MARCH 2024

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)

north-padre-island-housing-report-march-2024

Flourishing Trends: Texas Real Estate Market Soars in February 2024

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.

NORTH PADRE ISLAND HOUSING REPORT – FEBRUARY 2024

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

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

Days on the market for sale increased this past month with an average of 86 days and the highest categories for sales with 40.0% of all the sales being priced between $300,000 – $399,999. The market is still staying solid so far into 2024 with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

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

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

 

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

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

Avoiding travel scams when planning for spring break

Spring break is a popular time for students to travel during a vacation from school. However, it
also presents an opportunity for scammers to offer fraudulent vacation rentals, flights, or hotels
designed to appeal to students and parents looking for a getaway. With spring break for many
Texas school districts occurring within the next month, BBB reminds consumers to be wary of
travel-related scams as they make their plans and finalize payments.

More than 55,000 travel, vacation, and timeshare fraud reports to the FTC in 2023 resulted in a
$120 million loss. Scammers often take advantage of consumer habits and capitalize on trending
internet searches, enticing consumers with great deals to popular destinations or all-inclusive
packages. While these scams persist year-round, they often increase in frequency during times of
the year that coincide with an increased interest in traveling, such as spring break and the holiday
or summer season.

To assist consumers in identifying and avoiding the most common travel scams, BBB provides
the following brief descriptions of the top five most-reported travel scams:

 Vacation rental con. These con artists lure in vacationers with the promise of low fees and great
amenities. The”owner” creates a false sense of urgency – such as telling potential clients that
another vacationer is interested in the rental – to get payment up before doing sufficient
research or questioning the ad’s legitimacy.
 “Free” vacation scams. When a cruise or travel company advertises a vacation as “free,” it does
not necessarily mean the trip is without cost or restrictions. Watch out for add-on fees for air
transportation, port charges, taxes, tips and other undisclosed fees.
 Hotel scams. When staying in a hotel, beware of scammers who use various techniques to
obtain credit card information, including fake front desk calls, free wi-fi connections and fake
food delivery.
 Third-party booking site scams. Use caution if you book your airfare, hotel, or other travel
arrangements through a third-party website. BBB Scam Tracker continues to receive reports of
scammers pretending to be online airline ticket brokers. In the most common version of the
scam, travelers pay with a credit card and, shortly after making the payment, receive a call from
the company asking to verify their name, address, banking information, or other personal details
– something a legitimate company would never do.

To avoid becoming a victim of a travel scam this spring break, Better Business Bureau
recommends prospective travelers follow these guidelines:

 Get trip details in writing. Before making a final payment, get all the trip details in writing.
Details should include the total cost, restrictions, cancellation penalties, and names of the
airlines and hotels. Also, review and keep a copy of the airline’s and hotel’s cancellation and
refund policies and the travel agency or booking site’s cancellation policies.
 Too-good-to-be-true deals. As is common in various scams, if the deal or discount seems too
good to be true, it probably is. Scammers often use this tactic to lure in potential victims and use
aggressive “limited-time” language to entice travelers to pay before researching the business.

 Avoid wiring money or using a prepaid debit card. These payments are the same as sending
cash. Once the money is sent, there is no way to get it back. Consumers can dispute payments
provided via a credit card, making recovering funds a much simpler process.
 Call the rental owner. If you are not using a service that verifies properties and owners, do not
negotiate a rental solely by email. Many scammers don’t live locally. Speaking with the owner
on the phone and asking detailed questions about the property and local attractions will clarify
whether the listing is genuine. An owner with vague answers is a clear red flag.
 Unsolicited offers. Be cautious if you win a free trip without entering a contest or sweepstakes.
This is especially true if the offer is time-sensitive and requires the consumer to pay a processing
fee or risk it going to another “winner.” Check the official website of the company the offer
originates from to verify that it is legitimate.

For more tips on how to avoid travel scams, visit BBB.org/Travel.

If you or someone you know has been a victim of a travel scam, report it to BBB Scam Tracker.
Information provided could prevent another person from falling victim.

NORTH PADRE ISLAND HOUSING REPORT – JANUARY 2024

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

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

Days on the market for sale increased this past month with an average of 84 days and the highest categories for sales with 31.3% of all the sales being priced between $300,000 – $399,999. The market is still holding quite well moving into 2024 with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index (CPI) rose 2.9% on a year-over-year basis in January, following a 3.4% gain in December. The largest contributor to headline deceleration was lower year-over-year prices for gasoline in January (-4.0%) compared with December (+1.4%)

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

 

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

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

February 2024 Heart Health Month

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.

NORTH PADRE ISLAND HOUSING REPORT – DECEMBER 2023

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)

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

2024 Barefoot Mardi Gras Padre Island

Barefoot Mardi Gras 2024

Presented by COASTLINE PROPERTIES !!     

Why: To raise money for the Texas Sealife Center & Operation Finally Home

Fat Friday Kick-Off Party Sponsored By Todd Hunter

Where:                        Waterline Bar @ Doc’s Seafood & Steaks

When:                         Friday, January 19 th, 2024               –               6:00pm – 10:00pm

What:                          Let the celebration begin!!                   Food drink, music, and a huge silent auction with all proceeds going to our charities.

Barefoot Mardi Gras 2024 King & Queens Ball Sponsored by The Elect Michael McCauley Campaign

Where:                       Wyndham Resort Padre Island

When:                         Saturday, February 3, 2024   –                            7:00pm – 11:00pm

What:                          It all leads up to the Ball!    A new King & Queen will be crowned in an authentic New Orleans style procession. Music, food and adult fun. 21 and over please.

Barefoot Mardi Gras Parade 2024 Presented By Physicians Premier ER

Where:                       Whitecap Beach to the Briscoe King Pavilion at Padre Balli Park

When:                         Saturday, February 10, 2024   –                            11:00am

What:                          Fantastic entries expected with beads and candy throwing from unique creative floats, golf carts and walking groups.

For more information for tickets and entries, please check the website and Facebook page.

www.barefootmardigras.com

https://www.facebook.com/barefoot.mardigras

Contact email:      barefootmardigras@yahoo.com

NORTH PADRE ISLAND HOUSING REPORT – NOVEMBER 2023

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

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

Days on the market for sale decreased this past month with an average of 42 days and the highest categories for sales with 42.9% of all the sales being priced between $300,000 – $399,999. The market is still quite stable moving into 2024 with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in November on a seasonally adjusted basis, after being unchanged in October, the U.S. Bureau of Labor Statistics
reported today. Over the last 12 months, the all items index increased 3.1 percent before seasonal adjustment.

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

 

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

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

La Posada – Toys For Tots

With the holidays in full swing, it’s the perfect time for the residents of the
Coastal Bend to join together to assist those less fortunate. In the spirit of the holidays, I
wanted to take this opportunity to bring attention to certain efforts in our area that will
benefit many families this holiday season.

Toys for Tots is a nationwide campaign and has very strong roots and
participation in Corpus Christi, Port Aransas, Rockport-Fulton, and the Coastal Bend
area. The initiative began in 1947, when Marine Major Bill Hendricks collected and
donated 5,000 toys to children in their city. The campaign was so successful that Marine
Reserve Units around the country began collecting and donating toys, under the shared
objective to “bring the joy of Christmas to America’s needy children.” Since its inception
in 1947, the U.S. Marine Corps Reserve Toys for Tots Program has distributed over 452
million toys to more than 209 million needy children across the country. Events are held
around the area to promote the Toys for Tots holiday drive effort from the public, along
with Marines from the local Naval Air Station who collect donations. With a great
military base, strong charity presence and generous-minded people and industry, District
32 is a great place for Toys for Tots to contribute to the children of our area. If you would

like to learn more or get additional info, please visit their website at: https://corpus-
christi-tx.toysfortots.org/local-coordinator-sites/lco-sites/default.aspx
In addition to this great organization, there are many other charitable events in
the area occurring this holiday season. To find volunteer opportunities, you can look at
Feeding Texas’s website https://www.feedingtexas.org/get-help/. As we prepare for the
holiday season, let’s join together in helping the community and bettering the lives of
those around us.

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

– State Representative Todd Hunter, District 32
Rep. Hunter represents Aransas County and part of Nueces County. He can be contacted
at todd.hunter@house.texas.gov or at 512-463-0672.

NORTH PADRE ISLAND HOUSING REPORT – OCTOBER 2023

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

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

Days on the market for sale increased this past month with an average of 72 days and the highest categories for sales with 33.3 % of all the sales being priced between $300,000 – $399,999. The market is still quite stable moving into our short winter with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The median estimate (year-over-year, not seasonally adjusted) for the consumer price index (CPI) for the month of October 2023 is 3.3%. If 3.3% is the actual year-over-year increase in the CPI, it will mark the first decline in the consumer price index relative to the previous month since June 2023. This begins to show that inflation may be softening a bit as we head into the end of 2023.

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

 

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

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

TEXAS HOUSING REPORT – AUGUST 2023

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)

NORTH PADRE ISLAND HOUSING REPORT – SEPTEMBER 2023

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

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

Days on the market for sale dipped this past month with an average of 51 days and the highest categories for sales with 34.6 % of all the sales being priced between $300,000 – $399,999. The market is stable moving into fall with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI has started sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com

The Consumer Price Index (CPI) showed inflation rose 0.4% over last month and 3.7% over the prior year on a headline basis in September, a deceleration from August’s 0.6% month-over-month increase and in line with August’s 3.7% annual rise. Both measures were slightly higher than economist forecasts for a 0.3% month-over-month increase and a 3.6% annual increase, according to data from Bloomberg.

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

 

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

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

NORTH PADRE ISLAND HOUSING REPORT – AUGUST 2023

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)

north-padre-island-housing-report-august-2023

NORTH PADRE ISLAND HOUSING REPORT – JULY 2023

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

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

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

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

 

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

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

PADRE ISLAND HOUSING REPORT – MAY 2023

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

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

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

 

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

padre-island-housing-report-may-2023

PADRE ISLAND HOUSING REPORT – APRIL 2023

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

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

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

 

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

padre-island-housing-report-february-2023

PADRE ISLAND HOUSING REPORT – MARCH 2023

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

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

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

 

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

padre-island-housing-report-february-2023

Happy Easter 2023

As Easter is upon us, it is a time for reflection and renewal. At Coastline Properties would like to take a moment to wish all of our valued clients and their families a very Happy Easter!

The Easter holiday holds special significance for many of us. It is a time to celebrate the promise of new beginnings, to reflect on the blessings in our lives, and to spend time with loved ones.

In the spirit of the season, we want to extend our heartfelt appreciation to each and every one of our clients for entrusting us with their real estate needs. We feel privileged to be a part of your home buying and selling journey, and we look forward to continuing to serve you in the years to come.

We also recognize that the past year has been challenging for many of us, and we want to express our gratitude for your continued support and trust in our team. We are committed to providing the highest level of service, expertise, and guidance to help you achieve your real estate goals, no matter what challenges may arise.

As we celebrate this joyous occasion, we hope that you and your loved ones enjoy a wonderful Easter filled with love, laughter, and the promise of new beginnings. May the beauty and hope of the season bring you peace, happiness, and many blessings.

Thank you again for choosing Coastline Properties as your trusted partner in all of your real estate endeavors. We wish you all a Happy Easter!

PADRE ISLAND HOUSING REPORT FEBRUARY 2023

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

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

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

 

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

padre-island-housing-report-february-2023

Real Estate Scammers on Social Media

In the news A Coastal Bend real estate agent spoke about a recent scam on social media.

There are criminals targeting renters and future homeowners through Facebook Marketplace.

We are seeing sales listings that they are scraping from zillow, trulia and personal websites being targeted by a scammer claiming to be the homeowner.

When realtors list home photos and details about the house become public, so it’s easy for scammers to steal them and put them on Craigslist or Facebook Marketplace.

The scammer has the tendency to attract interested people by posting the property with a very attractive rate where people will see it and be very eager to take action and contact the poster. They use very persuasive language creating urgency for buyers to act fast.

Its prime season for scammers, so if you are in the market for a new home, make sure to look out for red flags and double check a listing you may see on Facebook or Craigslist with other sites before you inquire about it.

The scammer usually does not answer phone calls, they push you to contact them through email or text.  They are very aggressive with trying to get deposits from you as well. They don’t want to let you see the house, which is a super red flag. So please report incidents like this directly when you see it taking place.

It’s always best to do your homework before renting or buying, ask the right questions, and if it’s too good to be true, it probably is. He suggests if you do see an ad like this, don’t hesitate to contact us so we can check the legitimacy for you.  Let’s all look out for each other!

PADRE ISLAND HOUSING REPORT – NOVEMBER 2022

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

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

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

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

 

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

padre-island-housing-report-november-2022

BBB Tip: How to avoid purchasing fake tickets to events

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

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

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

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

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

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

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

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

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

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

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

PADRE ISLAND HOUSING REPORT – OCTOBER 2022

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

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

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

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

 

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

padre-island-housing-report-september-2022

National Diabetes Awareness Month

Every year the month of November is recognized as Diabetes Awareness Month. The purpose of this month is to raise awareness regarding the disease since millions of Americans live with diabetes. According to the American Diabetes Association, 37.3 million Americans have diabetes. Additionally, 96 million people are categorized as pre-diabetic which is a condition where glucose levels are higher than normal but not yet high enough to be considered diabetes. This is an important month to learn about diabetes due to the high number of Americans diagnosed with diabetes.

The objective of Diabetes Awareness Month is to increase public knowledge of diabetes. There are two types of diabetes. The first is Type 1 which accounts for 5-10% of all diabetes and is typically diagnosed in children and young adults. Type 1 diabetes occurs when the body does not produce insulin. The exact cause of Type 1 diabetes is unknown, but it is generally thought to be caused by a combination of genetics and an immune system disorder that affects insulin-producing cells in the pancreas. Individuals with Type 1 diabetes are generally required to monitor their blood sugar levels closely and take insulin daily to survive. The other form of diabetes is Type 2 diabetes which is the most common form of diabetes. Type 2 diabetes develops over time and occurs when the body becomes insulin resistant, meaning it is unable to process insulin properly.

Currently, there is no cure for diabetes. However, Type 2 diabetes can be manageable and, in some instances, preventable. According to the American Diabetes Association, Type 2 diabetes can be managed by taking prescription medicines, following a healthy eating plan, reducing tobacco use, and exercising to ensure blood sugar levels are kept within a healthy range. Similarly, those who are pre-diabetic or who are at a high risk of developing Type 2 diabetes can delay or even prevent the onset of the disease by making changes towards living a healthier lifestyle.

For more information about diabetes, please visit the American Diabetes Association www.diabetes.org.

Additionally, you visit the Texas Department of State Health Services to learn more about treatments for diabetes https://www.dshs.texas.gov/txdiabetes/.

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

– State Representative Todd Hunter, District 32

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

PADRE ISLAND HOUSING REPORT – SEPTEMBER 2022

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

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

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

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

 

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

padre-island-housing-report-september-2022

PADRE ISLAND HOUSING REPORT – AUGUST 2022

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)

TIPS FOR WHEN A HOMEOWNER PASSES AWAY

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

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

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

~ Cheri Sperling, Owner Coastline Properties

 

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

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.

Padre Island Housing Report – June 2022

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

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

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

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

 

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

padre-island-housing-report-april-2022

WHAT’S YOUR NORTH PADRE ISLAND STREET NAME MEAN?

A La Entrada – An expedition or journey into unexplored territory, or, in Spanish it means Entrance.

Almeria – A city of southeast Spain on the Gulf of Almería, an arm of the Mediterranean Sea.

Aloha – Hawaiian word used when greeting or parting from someone.

Aquarius – The Water Bearer, a zodiacal constellation – A good person who doesn’t judge.

Aruba – An island in the Netherlands Antilles, in the West Indies.

Atascadera – Atascadero in Spanish means stumbling-block.

Barataria – A bay in The Gulf of Mexico, off Louisiana (See Laffite).

Beaufort – An empirical measure that relates wind speed to observed conditions at sea or on land.

Binnacle – A built-in housing for a ship’s compass.

Blackbeard – Nickname of Edward Thatch who was a notorious English pirate who operated around the West Indies and the eastern coast of the American colonies.

Bonasse – Easy-going and simple-minded.

Bounty – A British naval ship commanded by Captain William Bligh, which was on a scientific voyage in 1789 between Tahiti and the West Indies when her crew mutinied.

Bowsprit – A spar, extending forward from the stem of a ship, to which the stays of the foremast are fastened.

Brigantine – A two-masted sailing ship, square-rigged on the foremast and having a fore-and-aft mainsail, often with square main topsails.

Broomsedge – Broom sedge: any of several grasses of the genus Andropogon.

Bullion – Gold or silver considered in mass rather than in value.

Cabana – A cabin, hut, or shelter, especially one at a beach or swimming pool.

Cabo Blanco – It’s a fishing village in northwestern Peru, or in Spanish, “White Terminal.”

Camino De Oro – In Spanish, meaning “Path to Gold.”

Camino De Plata – In Spanish, meaning “Path to Silver.”

Canadian Mist – A brand of Blended Canadian whisky produced by the Brown-Forman Corporation.

Capstan – A revolving cylinder with a vertical axis used for winding a rope or cable, powered by a motor or pushed around by levers.

Captain Kidd – 1645(ish)–1701, he was a Scottish navigator and privateer who was hanged for piracy.

Caravel – A small, fast Spanish or Portuguese sailing ship of the 15th–17th centuries.

Carlos Fifth – Carlos THE Fifth is the name of a creepy looking candy bar from Mexico, what you call someone that does something in a stupid manner.

Cartagena – A seaport in SE Spain.

Catamaran – A yacht or other boat with twin hulls in parallel.

Cayo Cantiles – Cayo, in Taíno meaning “small island,” Cantiles in Spanish meaning “cliff.”

Cayo Gorda Ct – Cayo, in Taíno meaning “small island,” Gorda in Spanish meaning “fat.”

Cobo De Bara – Cobo, meaning “sea snail” and Bara in Hebrew means “heaven and earth.”

Commodores – A naval officer of high rank, in particular an officer in the US Navy or Coast Guard ranking above captain and below rear admiral.

Coquina Bay – A soft limestone of broken shells, used in road-making in the Caribbean and Florida.

Cozumel – In Mexico, the name was given to it by the Spaniards; however its origin is derived from the words Cuzam (meaning Swallow) and Lumil (meaning land of).

Crossjack – The lowermost square sail set on the mizzenmast of a ship or of a bark with four or more masts.

Cruiser – A relatively fast warship larger than a destroyer and less heavily armed than a battleship.

Cumana – A city in NE Venezuela founded in 1523 that is the oldest European settlement in South America.

Cutlass – A short sword with a slightly curved blade, formerly used by sailors.

Cuttysark – It is a British clipper ship built on the River Clyde in 1869 for the Jock Willis Shipping Line and was one of the last tea clippers to be built.

Dasmarinas – It is the largest city in the province of Cavite, Philippines. In the 19th century during the Spanish Colonial Period, Dasmariñas was originally called Tampus meaning “end of the forest.”

Dorsal – Relating to the upper side or back of an animal, plant, or organ. Fin – an unpaired fin on the back of a fish or whale.

Doubloon – A Spanish gold coin.

Dragonet – A marine fish that often lies partly buried in the seabed; the male is brightly colored.

Ducat – A gold coin formerly current in most European countries.

Dyna – Simply defined as “power.”

Eaglesnest – The nest of a bird built high up on a cliff or on the top of a mountain OR a room or building built high up so that people inside can see things happening below them.

El Soccorro – It’s a Portuguese-Spanish noun meaning “help” or “relief.”

Emerald – A bright green precious stone consisting of a chromium-rich variety of beryl.

Encantada – In Spanish, means “delighted” as in “pleased to meet you.”

Escapade – An act or incident involving excitement, daring, or adventure.

Finistere – Element which has reached the limits of its expansion.

Flintlock – An old-fashioned type of gun fired by a spark from a flint.

Forestay – A stay leading forward and down to support a ship’s foremast.

Fortuna Bay – Fortuna was the goddess of fortune and personification of luck in Roman religion and was represented as veiled and blind, as in modern depictions of Justice, and came to represent life’s capriciousness.

Grenadine – A thin fabric of leno weave in silk, nylon, rayon, or wool. Presently, a syrup made from pomegranate juice.

Gun Cay – Where the Lighthouse is located less than 10 miles south of Bimini.

Gunwale – The upper edge of the side of a boat or ship.

Gypsy – A nomadic or free-spirited person.

Halyard – A rope used for raising and lowering a sail, spar, flag, or yard on a sailing ship.

Hawksnest – The nest of a bird of prey OR a house located high on a hill or mountain.

Highland Mist – A Blended Scotch Whisky.

Isabella – A wine made from the fox grape. Also, Queen Isabella  of Castile whose marriage to Ferdinand of Aragon in 1469 marked the beginning of the modern state of Spain.

Isla Colon – Isla meaning Island in Spanish, Colon is a city of northern Panama at the Caribbean entrance to the Panama Canal.

Isla Pinta – Isla menaing Island in Spanish, Pinta was the fastest of the three ships used by Christopher Columbus in his first transatlantic voyage in 1492.

Jackfish – A pike or sauger, especially the northern pike.

Jacktar – It was a common English term used to refer to seamen of the Merchant or Royal Navy. By World War I the term was used as a nickname for those in the U.S. Navy.

Jibstay – In schooners, the stay to which jibs are hanked.

Jolly Roger – A pirate’s flag with a white skull and crossbones on a black background.

Keel  – The longitudinal structure along the centerline at the bottom of a vessel’s hull, on which the rest of the hull is built, in some vessels extended downward as a blade or ridge to increase stability.

Key Largo – The largest island of the Florida Keys.

King Phillip – [War] (1675–77) the first large-scale military action in the American colonies, pitting various Indian tribes against New England colonists and their Indian allies.

La Blanquilla – (N) A very small coin, A Californian fish, A white grape.

Laffite – Pirate Jean Lafitte: he and his brothers smuggled goods to local merchants through the La Barataria (See Barataria) berth on the Louisiana coast in the early 1800s, after the Embargo Act of 1807 barred such trades. Barataria was far from the U.S. naval base, and ships could easily smuggle in goods without being noticed by customs officials. Later, legend has it, he came to our own Packery Channel, as, when pursued, Lafitte’s shallow draft boats could escape into the knee-deep Laguna Madre where larger boats could not follow. Folklore says that he buried treasure here, right near the Port A jetties, and marked it with a golden dagger. 

Lafitte – See Laffite. Pirate Jean Lafitte and his elder brother, Pierre, spelled their last name Laffite, but English-language documents of the time used “Lafitte.”

Lanyard – A rope threaded through a pair of deadeyes, used to adjust the tension in the rigging of a sailing vessel.

Leeward – On or toward the side sheltered from the wind or toward which the wind is blowing; downwind (see opposite, Windward).

Longboat – A large boat that may be launched from a sailing ship.

Main Royal – [mast] Part of the mainmast situated immediately above, and generally formed as a single spar with, the main topgallantmast.

Man O War – An armed sailing ship.

Mingo Cay – An island of the United States Virgin Islands.

Mizzen – The mast aft of a ship’s mainmast.

Mutiny – An open rebellion against the proper authorities, especially by soldiers or sailors against their officers.

Nemo – In Oromo it means “The Man,” but in Latin, the same word means “Nobody.”

Palmira – A city of western Colombia southwest of Bogotá where coffee and tobacco are grown.

Palo Seco – In Spanish means “without anything else.”

Peseta – The basic monetary unit of Spain (until replaced by the euro).

Pionciana – A tropical tree with showy red or red and yellow flowers.

Playa Del Rey – Spanish for “Beach of the King.”

Port Royal – It is a city located at the end of the Palisadoes at the mouth of the Kingston Harbour, in southeastern Jamaica founded in 1518.

Portillo – It literally means “small port” from Latin portus.

Ports O Call – An intermediate port where ships customarily stop for supplies, repairs, or transshipment of cargo.

Primavera – The hard, light-colored timber of a Central American tree.

Punta Bonaire – In Spanish, Punta: point, Bonaire: an island in the E Netherlands Antilles.

Punta Espada – In Spanish, Punta: point, Espada: sword.

Quarterdeck – The part of a ship’s upper deck near the stern, traditionally reserved for officers.

Queen Johanna – She was Queen of Naples and Countess of Provence and Forcalquier from 1343 until her death. She also reigned as Princess of Achaea and claimed the crowns of Jerusalem and Sicily.

Reales – A unit of currency in Spain for several centuries after the mid-14th century.

Royal Fifth – An old royal tax that reserves to the monarch 20% of all precious metals and other commodities acquired by his subjects as war loot, found as treasure or extracted by mining.

Sabre – A heavy cavalry sword with a curved blade and a single cutting edge.

Salt Cay – The second largest of the Turks Islands.

San Felipe – A city in NE Venezuela, on the Orinoco River.

Skysail – A triangular sail set on a stay between the fore and main trucks of a racing schooner.

Tajamar – Spanish for the cutwater.

Tesoro – Spanish for the word treasure.

Three Fathoms Bank – Fathom: a unit of length in the old imperial and the U.S. customary systems, used especially for measuring the depth of water.

Topgallant – The section of a square-rigged sailing ship’s mast immediately above the topmast.

Topsail – A sail, or either of a pair of sails, set immediately above the lowermost sail of a mast and supported by a topmast.

Tortuga – Spanish for the animal Turtle.

Verdemar – Spanish for the color sea-green.

Vincent – From a Latin word meaning “conquering.”

Whitecap – A small wave with a foamy crest.

Windjammer – A merchant sailing ship.

Windward – The side or direction from which the wind is blowing.

Yardarm – The outer extremity of a ship’s yard.

Padre Island Housing Report – May 2022

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

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

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

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

 

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

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Padre Island Housing Data – April 2022

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)

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Padre Island Housing Data – March 2022

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)

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Padre Island Housing Data – February 2022

The Local Real Estate Market continues to stay in a very positive direction with prices!
The Coastline Team along with the Corpus Christi Association of Realtors continues to keep a sharp eye on market conditions…The 2 notable areas we continue to watch are the decrease in inventory, and a standard 30-year rate fixed mortgage now up a little over 1.5% from the start of the year averaging 4.56% according to BankRate.com

Days on the market for sale have increased now to an average of 103 days on the market. 41.8% of all the sales in January were priced between $200,000 – $399,999. The Median Price of homes has risen additionally by 8.3% to a price of $390,000. 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 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 February 2022 Data (Click Pic below for Larger Image)

padre-island-housing-report-jan-2022

Padre Island Housing Data – January 2022

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)

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3 Things To Think About Before You Sell

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.

Padre Island Housing Data – Dec 2021

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)

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Padre Island Housing Data – November 2021

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)

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Great Tips for Holiday House Hunting

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This time of year typically marks the unofficial time people begin thinking about the holidays. After Halloween, time seems to speed up and before we know it the holiday parties, charity functions and the like set in for familes. Real estate activity during the holiday season is typically discouraged because of the challenges posed on both sides of a transaction.

For sellers, there is the inconvenience of having to keep the home clean; leaving on a moment’s notice for showings; and limiting holiday entertaining. For buyers, there may be limited access to houses if sellers place showing restrictions due to personal schedules and commitments.

However there are some advantages and  other considerations that both sides should keep in mind.

Buyers will find fewer homes on the market, but the homes that are available have highly motivated sellers. This may provide a better negotiating climate, and there is less likely to be the type of competition for homes you see during high season. In turn, sellers will find equally motivated buyers, and may find that offers and closings move more quickly.  What this means is, bargains and negotiations are plentiful this time of year if you are working with a savvy real estate agent in corpus christi.

Holiday sellers should curb large plans to entertain, have family & friends stay over, or do excessive decorating. Focus on showing off the features of your home that will appeal to a buyer – not your family decorations and holiday traditions.  It sounds like a less attractive holiday, but the dividends will more than pay for themselves.  Remember to always keep a mindset of a buyer in mind.  Have a Happy and healthy holiday season!

Homeowners Uncertain About Selling Right Now

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.

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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

HOW TO APPROACH FALL SALE’S SEASON!

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!

 

Know Before You Owe

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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

  1. The consumer’s name
  2. The consumer’s income
  3. The consumer’s SSN to obtain a credit report (creditor shopping will NOT affect credit rating)
  4. Property address
  5. An estimate of the value of the property
  6. 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…

Net-Zero Home?

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.

SECOND HOME BUYING ON PADRE ISLAND TEXAS

I, for one, admire Winter Texans. They’ve got the right idea: Come to our piece of paradise, spend a few months, spend a few bucks, then repeat! Some come in RVs, others have a home/townhome/condo to which they retreat. The time is coming to welcome our Winter Texans back, and it’s the Winter Texan “way” that reminds me of one powerful investment tool – real estate of course! We are lucky enough to live in a place where many come to vacation. Whether you live here and want to capitalize on the growing rental market, or you’ve got relatives and friends to whom you’d love to persuade to do the same or invest in a vacation home…Get your own piece of Padre Island Pie!

But WHY is now a good time, and WHAT makes real estate this aforementioned “powerful investment tool”?

WHY:

With the population of the Coastal Bend steadily increasing, more businesses coming to the area, and the increasing amount of national attention we’ve gained over the past few years, it’s no wonder investors and second home buyers have piqued interest.

First thing is first, what are your goals? To be an investor, or to use the property for vacation and enjoyment? There is certainly NO wrong answer here!

WHAT:

But what are the elements of value to an investor? Well that depends on their commitment: Do they intend on having a long-term or short-term investment? Will they live there part-time themselves or will they use it as a rental? Property values and their projected appreciation may play a large role in a buyer’s intentions. So may tax depreciation, capital gains, and inflation hedge. 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 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 advantages of owning 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 property without paying capital gains taxes. This is called a 1031-Tax Exchange.

Now, what about those who’d like to get away from their primary residence and invest in a second home? Fortunately for many of us, you don’t have to be a part of the ultra-rich to own a second home! This, too, could be wise, even if it will only be used for family and friends and not as a rental.

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

  1. Have money. This may seem obvious but daunting, but let me explain that it doesn’t mean millions in the bank. Unless you’re paying cash, your lender’s underwriter needs to see that you have adequate reserves (as often your downpayment will be larger for a second property).
  2. Consider your debt-to-income ratio. If it’s too high, this may be an issue for your lender.
  3. Spend time in the area, first! Know that you love the region and foresee wanting to be there often before buying there. Do your due diligence on the right neighborhood, the costs of maintenance, HOA dues, taxes, insurance, etc.
  4. Double the fun, but potentially double the work! Assess the yard – will you need someone to mow it while you’re not there? Will the pool need weekly maintenance?
  5. Work with an agent that is very knowledgeable about the area. Here in our Coastal Bend, most agents are accustomed to working with investors/second home buyers.

DO BOTH!

If you meet the less-than-14-day-or-10% test, you can write off all the usual expenses associated with owning a rental property. Or, if you rent the house a quarter of the time, for instance, a quarter of your mortgage interest, property taxes, utilities, insurance costs, and repair expenses are deductible against rental income.

The options and advantages seem to outweigh the fear of dabbling in real estate investing or owning a second home. Try it, you may become a mogul! So come and stay and play at your leisure, then make the money, honey!

The Hidden Eviction Win at the Supreme Court

 

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…

Padre Island Housing Data May 2021

May 2021 Real Estate Housing Report just out!!

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

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

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

See attached numbers.

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

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

padre-island-housing-report-jan-2021

WHY USE A LOCAL PADRE ISLAND REALTOR?

Local-Realtors-corpus-christi

WHY USE A LOCAL REALTOR?

This question probably prods every seller at one point or another…it’s your property, aren’t you the best suited to sell it? Perhaps. Then again, let me explain why maybe not. As a buyer, it’s just as critical to use a local Realtor. It comes down to the three Ts: Tools, Training, Transaction-Related Matters.

Tools:

Real estate agents have tools, and they don’t come in a box or on a belt. One of these tools is the Multiple Listing Service (MLS). This is a system paid for by agents to showcase listings to all other agents. It also allows us to see and search every other property for sale, along with what’s closed, what’s under contract, etc…always in real time. Because the MLS dates back decades, it is trend and individual property history at our fingertips. It gives agents the unique ability to create a comparative market analysis on your property with the knowledge we have from recent closures. As a tight-knit community, we have a network of other agents and a network of title company experts who keep us up-to-date on changes to contracts and changes to the law. We are vested in the community where we live and work, and where you want to live or sell. We are familiar with the local market, building guidelines, and numerous specifications that our seaside area requires.

Training:

OK, it sounds like we’re running a marathon, but seriously, sometimes a real estate transaction feels like one! Real Estate Agents went to a school focused specifically on real estate and can help you navigate the (sometimes rough) terrain. Both a national and a state required exam must be passed to become licensed. Pricing, contract paperwork, real estate finance and law, these are all areas we’re proficient in and experts at. Likewise, we’re required to continue our education with a certain number of hours each year to ensure we stay informed and updated on the ever-changing regulations occurring in this industry. Also, not all real estate licensees are the same; only those who are members of the National Association of Realtors are properly called REALTORS and can proudly display that trademark on marketing and sales literature.

Transaction-Related Matters:

This comes down to the meat and potatoes of it all, concerning the contract itself, to the negotiations, to possible repair work, to closing details, and every possible scenario in between. It also heavily involves our Code of Ethics – for over 100 years, this code ensures agents treat their clients professionally and ethically. These ethics are strictly enforced, and you know you will be working with a true professional who focuses on your needs and wants. Your agent is accountable for fulfilling their full “fiduciary responsibilities” to you (has your best interest in mind from finances to full disclosure to confidentiality).  Realtors are committed to treat all parties in a transaction honestly. An independent survey reported that 84% of home buyers would use the same Realtor again.

The best agent I know once told me, “You’ve done your job if you’ve made it look easy.” So I invite you to relax…have a lemonade…allow us to make the process appear as seamless as possible.

Padre Island Housing Data – March 2021

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)

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Padre Island Housing Data – February 2021

It has been roughly a year since the COVID-19 pandemic began in the United States, and more people than ever are buying residential real estate in vacation housing markets.

In a study of counties that have seen the largest uptick of homebuyers and subsequently, home value – the top 10 are all in either vacation destinations or relatively affordable areas of big cities. That’s in line with the country’s sweeping work-from-home mandates put in place last March, which allowed millions of people with the capital to buy a property realizing they could work – and live – anywhere.

A demand for second homes across the country has skyrocketed since last January. What remains to be seen is how the continued vaccine rollout and expected economic stimulus checks impacts the larger metro areas’ housing markets. With most people receiving immunizations from COVID-19, more workplaces opening up to their employees – in turn, drawing them back to the city to avoid commuting from suburbs and vacation areas such as Padre Island and Port Aransas.

Mortgage rates continue to increase as the economy improves with the labor market and vaccinations continuing to roll out and additional stimulus spending. Even as mortgage rates rise modestly, the housing market remains healthy on the brink of spring home-buying season.

Homebuyer’s demand is strong, and for homeowners who have not refinanced but are looking to do so, they have not yet lost the opportunity. Cash-out refi’s have exploded. Many economists expect home prices to keep growing.

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

 

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

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WHAT YOU NEED TO KNOW ABOUT THE SELLER’S DISCLOSURE FORM

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This one form, filled out by the seller of a property, is more important than you may have realized. I compare it to a hard hat at a construction site. Seems overly precautious until a large piece of material falls from above and suddenly you’re awfully glad you had that protection!

In 1993, this form became mandatory, exclaiming that “Texans would be bound to truth in selling their homes…is designed to protect Realtors from the burgeoning number of ‘failure to disclosure’ lawsuits…the bill would require sellers to complete a disclosure form detailing the condition of the house, property and certain equipment within the house.”

What is it?

This statement is a disclosure of the condition of the property in compliance with the seller Disclosure Act. This statement is a disclosure of the condition and information concerning the property, known by the seller. Unless otherwise advised, the seller does not possess any expertise in construction, architecture, engineering, foundation, roof, or any other specific area related to the construction or condition of the improvements on the property or the land. This statement is not a warranty of any kind by the seller and is not a substitute for any inspections or warranties the buyer may wish to obtain. NOTE: For sale my owners are also legally required to provide this form.

Can your agent help you fill it out?

No. As Realtors, this would infringe on our duties to abide by the National Association of Realtors “Code of Ethics and standards of practice.” We are not lawyers and cannot give any advice or interpret any law regarding what the form says or means. If there are any questions, sellers need to consult an attorney.

Both TAR and TREC have a seller’s disclosure notice. Which to use?

Both forms are in compliance with the law. With that said, the TAR form is far preferred. It asks more questions, is far more thorough, is easier to fill out, spells out specific safety hazards the TREC form does not, is more useful for buyers and is designed to serve as a better risk-reduction tool for sellers. It is in your best interest as the seller to ask your agent to provide you with the TAR form.

Who is exempt from filling this form out?

There are 11 exceptions, but the most common are:

  • A builder of a new home
  • A trustee or executor of an estate
  • The lender after foreclosing on a property
  • Duplex owners

Even though these types of sellers (and a few others) are not required to provide a disclosure notice, they still must disclose any known material defects. Requirements of Section 5.008, all sellers have an obligation to disclose known defects about the property. Failure to do so exposes them to liability under the Deceptive Trade Practices Act or other civil laws.

What about previous death in the property?

The statute does not require disclosure of deaths by natural causes, suicide, or accidents unrelated to the condition of the property.

Previous Inspection Reports

If a seller bought the home within the past 4 years OR if a seller receives a copy of an inspection report from a buyer but the contract with that buyer falls through, the seller and brokers should consider sharing the report and they have a duty to disclose any known material defects. Possession of a prior inspection report may be evidence of the seller’s or broker’s knowledge of a known defect, although no law requires that the report must be provided.

Consequences When Sellers Don’t Disclose

A seller who doesn’t disclose known defects can be sued by the buyer after the defect is discovered. As a seller, you don’t want to look back after closing!

If a court finds the seller responsible, they may be required to:

  • Repairs and other damages resulting from the undisclosed defect
  • Pay the buyer’s attorney’s fees and costs of the lawsuit
  • Take back the house if the court invalidates or rescinds the sale
  • Punishment for punitive damages of failure to disclose defects

 

A surprise birthday party is fun…a surprise moldy house is not! Use of this form may result in fewer surprises to the buyer after closing and less liability for the agents and the seller(s). Don’t make your home sale any more challenging than need be. A seller’s accurate and honest disclosure is worth it.

Padre Island Housing Report January 2021

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)

 


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Did You Know How Much Mortgage Rates Can Help You?

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!

Color Pyschology: How they Effect Emotional States!

Have you ever come home to find that your house has been broken into, your husband has canceled your recordings of The Bachelor, and it appears as though your “big bad guard dog” has actually led the robber to the fine china? I truly have “seen red” before. And I bet you have, too.

So how do colors affect human emotion and reaction? Company owners, home decorators, web designers, have all recently been paying more attention to not only what colors to choose, but why to choose them. Color psychology is now known to play a larger role in marketing, design and branding. Perhaps as homeowners, we, too, should choose wisely. The colors you choose for your spaces can actually play a role in your mood and temperament.

Black begs power and authority. You wouldn’t bully the karateka sporting the black belt.

For the home: Choose an accent wall in your home office and paint it black! Own your work space, and make it be known that you’re the boss in there! It will demand dominance.

White symbolizes purity, innocence, and sterility. Wouldn’t it just seem odd to baptize a baby in a red gown? Or to paint the walls of an operating room a dirty tone of split pea soup?

For the home: If you have a case of kitchen OCD, a white kitchen is a necessity. White will make the kitchen appear larger (and it IS the heart of the house, so the bigger, the better!), but the more sterile this room feels, the better. Perhaps your guests don’t want to question whether their food was prepared in a germ breeding ground, as white countertops and cabinets are no hiding place for grease splatters or red wine rings.

Red brings about feelings of passion and rage. Studies also show that it increases circulation, action, and exudes an empowering masculine energy.

For the home: Assuming most households do have at least one man in them, perhaps use red as an accent color: Red pillows, a red door, red vases. Does your house have a man cave? Red that room!

Orange has the tendency to elicit increase in energy and optimism. Think of the fruit – it’s bright, sweet, makes you want to do an Irish jig.

For the home: If you have a home gym, this is the PERFECT place for this color. It will likely give you that needed boost an extra shot of espresso may provide…without the calories!

Yellow sometimes enhances concentration, but can lead to irritability and anxiety. Just because it’s gender neutral doesn’t mean you should paint your nursery this color. Studies have shown that the same baby will cry more in a yellow room than in a blue room.

For the home: As with red, use this color as an accent. If you just love the color, a downstairs powder room would be a nice place to put yellow on the walls. It will add a kiss of zest to the first floor. Consider the sun…it’s always nice when it’s out, but you never want to stare at it!

Green…ahhhh green. It’s natural…relaxing…can’t you smell the fresh cut grass? Not only does green bring you down to earth, but it can symbolize greed and envy. So, use green wisely.

For the home: Incorporate green by using indoor plants! Plants will bring the outdoors in, and studies have shown plants and flowers will reduce stress and improve general well-being. You wouldn’t bring your sick friend a gerbil, right? You’d bring them a fresh bouquet! If you’d rather bring green in another way, go with a nice pale green for the living room.

Blue has a similar effect as green. You feel calm around blue. It symbolizes loyalty and peace. Straight from Wikipedia, “In 2000, Glasgow installed blue street lighting in certain neighborhoods and subsequently reported the anecdotal finding of reduced crime in these areas.”

For the home: I’d choose a navy blue as an accent wall in the dining room, or a light blue for a bedroom. If you’re like most, your bedroom is the one place you can really go to unwind. Blue will allow you to feel soothed and restful. Light up a beach wood candle, and you’re in heaven! Just don’t go painting clouds on the ceiling. Then you’ve taken it too far.

Purple is the color of royalty, wealth, and sometimes romance. In ancient healing therapies, the color psychology behind purple was believed to treat skin problems, and purple crystals were used for both emotional and physical healing.

For the home: If it is believed to aid in skin therapy, what better place for a purple paint job than the master bathroom? Maybe the good purple vibes will work their magic and make you forever beauteous. If that’s not what you’re about, picture a relaxing lavender scented bath. Purple is also said to spark the imagination. I know many people do their best thinking in the bathroom!

Pink makes people think of love and romance. But it also brings about a sense of nurturing and immaturity – the silly, playful kind.

For the home: A little girl’s bedroom is the obvious choice here. But I think another less obvious space would be lighter maroon color in a playroom. This may help mold creative thoughts and visionary children.

Now go grab some color swatches, and create your own desired household aura!

Design Trends in 2021

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“This home is so ’70s.” How many times have we heard a home identified by a year based on its appearance and finishes? Well, 2021 will be no different, as fun and fresh designs are sure to be trending.

Outdoors, Indoors

Here on the Island, we practically live outdoors most of the year! Designs are beginning to recognize this. Homeowners are working on bringing the outside in with things like plants, and double doors, and also purchasing furniture that can be used both indoors and out. Create a fluid space where the indoor outdoor living concept is seamless.

Geometric Tiles

Tile backsplashes aren’t a new concept, but what we expect to see in 2021 are using the tiles to create more geometric patterns that feature fluid movement. New materials for this are coming onto the scene such as cement and wood. Whether it is a backsplash, an intricately patterned floor or a countertop, fluid geometry is eye-catching and coming in strong this year.

White Appliances

With so many homeowners going with the trending white cabinets, white appliances just blend right in. Also, many are becoming tired of the maintenance from the marks and handprints that are so evident and inevitable that show up on stainless steel appliances. Try Ice White from Whirlpool. Slate kitchen appliances can also bring a classic and modern look and are gaining momentum.

Metallics, Metals, and Minerals

All trends come back around, and the 1950s and 1970s are hot fashion trends in 2019, and this will also translate to the home. Gold and metallic finishes are exceedingly popular right now. Retro bling, shine, and polished geodes will rock your home (pun intended). Accessorize with oversized bowls of fools gold, big chunks of quartz, or even unpolished semi-precious stones turned into door pulls. Go au natural!

Chevron is Out

Herringbone, Chevron, Zig-Zag, the fun and often colorful pattern was so 2020. If you are still a fan of it, try putting it in easily removable ways, such as an area rug or throw blanket. Don’t stick it up on a large wall. Instead, try solid-colored, textured fabrics, or even animal hide is in!

Bye Brass

Brass hardware is one design element that almost immediately outdates a home. Hardware is one incredibly easy and inexpensive way to update! To replace brass hardware or other knobs, be sure to choose a size that will cover the “footprint” of whatever is currently installed. For 2021, try brushed or satin nickel hardware. Magic.

Fake Wall Treatments

Solids are back. 2021 interior design approaches emphasize authenticity. The prevalent use of natural materials (back to minerals, above) goes back to midcentury modern design. That means it may be time to get rid of the fake wall treatments such as Tuscan paint finishes and marbled columns. Use a solid paint! It’s chic, clean, and IN.

Padre Island Housing Report – November 2020

3 Trends seem to be driving this fast-paced market!
Low inventory, bidding wars, and cheap mortgage rates are giving home buyers a sense of FOMA – fear of missing out – and heating up the competition.

To our surprise, the housing market has not only recovered but roared past pre-pandemic levels. Mortgage rates remain at record lows. Pending home sales are up over 20% from a year ago and the buyer traffic is up over 32% which ups the mortgage applications as well. This winter may be the best
ever for the housing market.

Days on the market for sale has decreased to an average of 78 days on the market. 45.4% of all the sales in November were priced between $200,000 – $399,999. Closed Sales were up a whopping 109.4% in the month of September. The market is certainly remaining strong with the interest rates still holding it’s a great time to find that dream home you have been waiting for or cash out that equity. We would be glad to navigate you to success!

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 2020 Data (Click Pic below for Larger Image)

 


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

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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

Padre Island Housing Report – September 2020

With the Close of September, the median sale price on residential homes was 270,000 which is a decrease of 9.1% here on Padre Island compared to last year at this time.

Lots of Island Developments are on the move now, and the preliminary signage for the new Park Road 22 bridge has been posted and we are about to see our Island start making headlines across the state of Texas.

Days on the market for sale has decreased to an average of 78 days on the market. 36.5% of all the sales in September were priced between $200,000 – $299,999. Closed Sales were up an incredible 16.4% in the month of September. The market has cooled off a bit with school starting up, there are still some great bargains out there, and with the interest rates still holding it’s a great time to find that dream home you have been waiting for.

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

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

 


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Padre Island Housing Report – August 2020

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)

 


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Real Estate on Padre Island

Do you know what a SELLER’S MARKET is?  It occurs when demand exceeds supply, or there are more buyers seeking to purchase properties than there are available properties on the market. This often leads to multiple buyers interested in a single property, resulting in bidding wars.

In a SELLERS’S MARKET, properties priced well and look good, don’t stay listed for too long.  Many properties sell in just weeks

For much of the last decade, the real estate market has been….well, not really in the greatest shape.  Home sellers have had to do everything short of staging a three-ring circus in the front yard in order to attract buyers and throwing in their firstborn child to seal the deal.

Over the course of the past few months, though, there’s been quite the turnaround, to the point wherein many parts of the country we’re now in what is known as a ‘true’ SELLER’S MARKET.

The drop in interest rates, which allows more people to qualify to buy homes, or to afford more expensive homes has been a major factor.

The BEST way to make sure you’re taking full advantage of a SELLER’S MARKET is to work with an experienced local REALTOR. Your REALTOR will help you know just how high you can price a property, and what offers are worth a second look.

Homeowners, the real estate market on Padre Island is HOT and now is a great time to sell.  Interest rates are low and there are more buyers than inventory. Let us help you find your perfect gem!

~ Cheri Sperling

Padre Island Housing Report – June 2020

Homeowners, the real estate market on Padre Island is HOT and now is a great time to sell. Interest rates are low and there are more buyer’s than inventory.

We are still seeing lots of willing, and able and ready buyers, the market is moving fast as we head into the deep of summer with the temperatures outside are sizzling in the upper 90’s.

We are well into Hurricane Season so it’s always good to prepare for these times by keeping the items you need handy along with a checklist in the event of the need for evacuation on our Lil ol sandbar.

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

We are practicing all the social distancing, masking, and hygiene requirements in and out of our office as we navigate these challenging times. We are committed to protecting all our clients and helping them with all their real estate needs.

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


Padre Island June 2020 Data (Click Pic below for PDF)


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BE PREPARED: FORECLOSURE AUCTIONS

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!

Padre Island Housing Report – April 2020

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)


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TWIA News 2020

did-you-know-pxbyTWIA 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.

 

Texas Quarterly Housing Report for 1st Quarter of 2020

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

2020 State of Padre Island Real Estate

A new decade can bring excitement, anticipation, and chatter of changes. But one thing that doesn’t seem to change is what’s most important in the real estate market: As we real estate experts commonly quip, it all comes down to three simple things: Location, location, location! And lucky for us, that’s the one absolute permanent asset we have – our sparkling coast and sunny skies. Not only is Texas itself seeing exponential growth, so are we here on the Island.

Future job growth in Corpus Christi over the next ten years is predicted to be 25%. Unemployment rates are down, home prices are up, and the Texas economy is strong. As the state keeps attracting new businesses and cranking out jobs, these trends are only likely to improve.

The Island, known in large for its tourism, has seen and will continue to see phenomenal growth over the past few years. With new industry and population increases, it’s no wonder the real estate market is healthy and busier than ever.

So what if you wanted to buy or sell here? By comparing these price trends, you’ll have a good idea of where the market could be heading. The median listing and sold property prices (below) are calculated based on the market activity each month. Our Island is valuable!

Listed vs. Sold

It’s important to understand the difference between “list price” (what sellers are asking for) and “sold price” (what buyers are actually paying).

Let’s break it down!

FOR SALE – through February 15, 2020

Interior Homes

  • 68 homes currently listed for sale

Statistics

  • Low price – $200,000
  • High price – $785,000
  • Average price – $375,258
  • Average square footage – 2,255

Waterfront Homes

  • 81 homes listed for sale

Statistics

  • Low price – $309,900
  • High price – $4,500,000
  • Average price – $671,596
  • Average square footage – 2,505

SOLD HOMES – January through February 15, 2020

Interior Homes

  • 16 sold interior homes in the first month and a half of 2020

Statistics

  • Low price – $201,250
  • High Price – $383,000
  • Average price – $286,522
  • Average square footage – 1,878

Waterfront Homes

  • 15 sold waterfront homes in the first month and a half of 2020 (up 216% from the same timeframe in 2019; 6 houses)

Statistics

  • Low price – $250,000
  • High price – $825,000
  • Average price – $454,833
  • Average square footage – 2,096

Padre Island Housing Report March 2020

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)


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Padre Island Housing Report February 2020

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)


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DON’T FA LA LA LA FRET

Cooking and cleaning and hosting, oh my! Broken wine glass shards as far as the living room? Kitchen sink spitting up last month’s pot pie leftovers? Aunty Shissa sprained ankle on the kids’ long-lost Lego piece? Get through the final holiday season without a hitch, and make it seem flawless.

Before Guests Arrive:

Clear your entryway! The people will come, and they come with THINGS. Lots of things. Purses, shoes, presents, tupperware, scarves, jackets, cats in doggy bags…give these things a place. Whatever you have going on in your foyer, de-clutter it. Then add extra hooks.

Add a few extra lights. YOU know where the hallways begin and end, where the steps are and how steep. But your guests do not, and it gets dark early now! Add motion detecting night lights inside and outside so no one goes home with a broken hip.

Zhuzh up your powder room. With the eggnog and spiced wine flowing, your guests will find their way here…often. Aside from the kitchen, it may be the next busiest room. Make sure it’s fully-stocked with toilet paper, hand soap, clean hand towels, tissues, and…air neutralizer…plunger. A scented candle provides nice ambience.

Create extra seating. Especially around bars, coffee spots, and kitchen islands. The masses congregate here. No one should have to call “seat backs”!

Cook a few appetizers in advance. This keeps your guests happy and you with less to do/more time to chat and concentrate on the main dishes. Keep wine and glasses out for guests to serve themselves!

Prep a guest room. Just in case you get the tipsy friend who simply shouldn’t drive, get a bedroom ready in advance. Clean bedding, a ceiling fan, and matching footed PJs are all they need!

Garbage cans. Double or triple line them. It’ll make clean-up so easy during and after the party!

Troubleshooting 101:

Dish disaster. First, use as many “oven to table” dishes as possible to avoid doubling up on what needs to be washed. Next, set up a soaking station for those inevitable hard-to-wash dishes. Quick tip: use a trashcan as your soaking spot, and stick it under your sink. That way it can hold a lot but is also out of the way.

Oven issues. How to avoid the possibility of your oven “gone fishin’” on the most critical day of the year? Set the SELF-CLEAN to AFTER the holidays. That way you’re less likely to blow a fuse or a thermostat. Don’t Turducken this up.

NUTS. Any type of food allergy. A simple heads up with a small sign that says what has nuts, dairy, etc. in it could mean a much-appreciated trip saved to the ER.

Fires. First and foremost, do not overload outlets. You and your guests don’t want to be left in the dark, or worse, in the midst of a house fire. And for those outdoor hanging icicles and blow up Santas, stick to exterior specified extension cords.

Plastic. It’s not so tacky anymore. Super wine glasses and lovely dishware come in plastic or even disposable! No more shattered glass or paranoia over grandma’s fine china.

Party Is Over:

Doggy bag. Purchase little doggy bags for your friends and family to leave with leftovers. They get a tasty treat the next day, and your fridge isn’t left overloaded.

Clean your kitchen first. That is important. Get dishes going, trash out, and spills up. But your guest bath or linens can wait. Categorize by what needs to happen right away vs. in a day.

Double check electronics. Make certain the stove is off, you’ve unplugged the fondue machine, and your after-dinner coffee maker isn’t still heating up water.

Get the kids to help: You don’t have to do it alone! Crank up the Carols and make it fun!

Your guests will love how effortless your festivities were, and how comfortable they felt. Happy merry holidays, Island.

Padre Island Housing Report Nov 2019

As of the end of November, there were 80 waterfront homes on Padre Island, For Sale. The pricing ranged from $298,000 to $4,500,000.

There are 73 day lot homes on Padre Island, For Sale.
The pricing ranges from $200,000 to $950,000.

Days on the market for sale has risen to an average of 141 days on the market. 35.5% of all the sales in November were priced between $200,000 – $299,999. No closings over $500,000 in the entire month of November. Sales were down 25.6% in the month of November. I believe people are thinking holidays.

We are looking forward to a much better 2020. Interest rates are supposed to remain low. A few new loan programs are coming out. Lots of new things happening on Padre Island. Happy Holidays!!

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 November 2019 Data (Click Pic below for PDF)


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Padre Island Housing Report October 2019

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)


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Padre Island Housing Report September 2019

The Corpus Christi Association of REALTORS (CCAR) September market report for Padre Island shows the Median Price at $299,990 which is UP from September 2018 ($289,700)

The inventory levels are up a bit. Dry lot homes continue their dominance in active listings over the water front homes. Our closed sales were up in September which is typical because sales in July/August would be closing in September. The Island grocery store is in construction at this time. Waves Resort has stepped up their game and doing extremely well with their presentations, look and services.

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 September 2019 Data (Click Pic below for PDF)


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Padre Island Housing Report August 2019

Total housing sales through the MLS corrected upward in July after declines the previous two months. Despite the monthly jump, the sales pace shows signs of slowing. The Median List price is now $285,000.

Continued concerns about global economic growth and trade uncertainty pulled interest rates down for the ninth consecutive month. The Federal Home Loan Mortgage Corporations 30-year fixed-rate dropped below 3.8%. Refinance mortgage applications, which are more sensitive to interest rate fluctuations, have doubled since year end.

Days on the Market: July was approx 94 days. August approx 139 days.
Median List Price: July was $282,450 August approx $285,000
Closed Sales: July up 7.7% August down 18.3%

Coastline Properties has been on the Island since 1995. We strive to set the standard in our industry and inspire others by raising the bar on providing exception real estate knowledge and savvy!
Come Coast Awhile……right here!


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


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North Padre Island Housing Report – July 2019

Recently an agent described the current real estate market as, squirrely. As the market has softened, buyers are more finicky and more selective, and right now many sellers have unrealistic expectations of their home’s worth. The bottom line is, homes MUST be priced right.

The condominium and townhomes sales have dipped and inventory continues to increase. The homes sales have risen on Padre Island, somewhat, and the housing inventory continues in rising. Buyers have access to more properties not just here but statewide. However, working with a local Texas REALTOR in the market one is considering will ensure a Buyer or Seller the most accurate information and guidance to buying or selling a property. That professional will know the geographic area and can guide a buyer or a seller with much local information .

Coastline Properties has been on the Island since 1995. We strive to set the standard in our industry and inspire others by raising the bar on providing exception real estate knowledge and savvy!
Come Coast Awhile……right here!


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


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North Padre Island Housing Report – June 2019

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

If you are considering property in Corpus Christi, the most affordable properties are located on Padre Island. Padre Island has the most affordable waterfront properties around. We sit on the warm Gulf of Mexico with miles of beaches and that isn’t including the long sandbar islands of Port Aransas and San Jose Island.

Many savvy real estate investors have retired early in their lives by investing in some of the best real estate markets on Padre Island. Our real estate market offers an excellent mix of opportunities such as catering to the student market from the college, military market at our base and our tourism market.

Our local economy and demographics makes Padre Island housing market incredibly stable, insulating from wild price swings while guaranteeing decent returns. Whether buying an investment property or wanting to own an owner-occupied home…Coastline Properties can answer your questions. whether you are a beginner or a seasoned pro you probably realize the most important factor that will determine your success is a working with a seasoned local real estate company.

Coastline Properties has been on the Island since 1995. We strive to set the standard in our industry and inspire others by raising the bar on providing exception real estate knowledge and savvy!
Come Coast Awhile……right here!


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


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REAL ESTATE TRENDS IN 2019

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

  1. PRICES ARE RISING. Albeit slowly, but they are on the up. Isn’t that why we own? Real estate is meant to be an appreciating asset, so this makes us happy. For sellers, this means you can expect to net a little more than perhaps you expected. As mom would say, don’t spend it all in one place. But, be aware of the competition, price accordingly, and do not get discouraged if you’re not getting as much activity as you’d like. Due to higher prices, there may be fewer buyers and therefore fewer showing appointments and offers. Be patient, it will come. Because, what this means for buyers is…you need to save a bit longer and perhaps sacrifice a “want” or two. Concentrate more on your “needs” than “what would be nice” in a home. Be in close touch with your lender, understand the numbers, what is expected of you throughout the process, and take the time to save up for what it is you want.
  1. MILLENNIALS! Don’t cringe, they are your friends…they are your BUYERS! Move aside, baby boomers and Gen Xers! The Millennials are now older, have stable careers, and currently account for roughly 45% of home purchases! This so happens to be at a good time, as baby boomers are downsizing and/or retiring. As a seller, keep these things in mind when speaking to your agent about marketing. Millennials shop online – be sure your hired agent has taken professional photos, has spent quality time on a detailed property description, and truly knows about your home, as once it gets input in to the local MLS, the internet sites such as Zillow, Trulia, and the like pick it up. If it doesn’t look or sound enticing, they’ll quickly move on. If you can, prep your home to be more energy efficient and maintenance free as possible. We’re seeing a movement toward quality over size, so declutter, brighten up, and maybe replace that oven with one that can be operated by a phone application. Buyers, know what you want and be quick when you are in fact ready…if you like it, your friends will, too! And do not forget to use an experienced real estate agent. It is a free service to YOU!
  1. We’ve talked on this topic before, but the interest rates are higher than they’ve been in recent years’ past. Despite grumblings, it’s actually a good thing! To help stabilize the strong economy and rising inflation during the past few years, the Federal Reserve increased short-term interest rates. It’s somewhat natural to see a trickle-down effect to the bank level like what we’re seeing now with mortgage interest rates. What it means in short is that more people are willing to spend and borrow money. We just need to know how to react to this as a seller and a buyer. Sellers, your home may be on the market a bit longer, so plan for this by maybe listing a bit earlier than you may otherwise would have wanted to. Your best bet is to hire a local agent who understands the current market. They’ll help you set expectations for how much you can make and how long you’ll have to wait for the right offer. Buyers, taking out a mortgage is like getting married – you’re going to be together a long time! It’s normal to need to take a moment to make this commitment, especially when the rates are higher than they may have wanted. Believe it or not, rates are still relatively low. If you’re not buying with cash, check with your lender on the terms of a conventional 15-year fixed-rate mortgage. You may find that route beneficial.

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

Save and Spend Smartly

piggy-bank-It’s hot here on Padre Island, and I’m not talking just the high temperatures. It is real estate’s steamy season, and properties are being listed and sold faster than season tickets at the ‘bahn. With the active market, it’s critical to take a look at your spending. How can you be assured you’re not wasting money? Here are some smart tips on how to save and spend during peak purchase season. Do not fall victim to these common money mistakes.

 

BUYERS:

DO NOT overpay. Unless you find yourself in a bidding war for the home of your absolute dreams, there is not a single home like it, and you do not plan to leave, ever ever ever, do not pay over the appraised value. Note: Do not get this number from the tax office, get this from an actual appraiser who visits the home and runs their own detailed determination of real value.

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

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

DO lender shop. Different lenders can offer different rates. Shop around, see with whom you can save and where.

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

SELLERS:

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

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

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

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

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

Tax Time 2019

Your home is likely your largest asset, and therefore, deserves special attention at tax time. Be sure you’re handling them correctly this year, using these tips!

Deduct from the correct year:

Here, we’re billed in arrears on our taxes, which can be confusing when taking the tax deduction. You’ll want to be sure to enter the amount you actually paid in that tax year, no matter what the date on your tax bill says. Because of this, it can be easy to confuse your payments and actually claim the incorrect amount.

Note: If taxes were paid from your escrow account, do not just deduct the amount escrowed. That’s because sometimes the amount you pay from this account can be a little bit higher or a little bit lower. Your lender will align the two to make sure they end up matching.

For example: Your property taxes were $6,000. Your lender collected $5,800. Or, maybe your lender collected $6,200. You’ll deduct $6,000, the actual taxes paid. This number will be the amount noted on your Form 1098.

Deduct your mortgage interest:

A home mortgage interest deduction allows you, the taxpayers who owns your home, to write off any interest you paid on a loan secured by your home (main home or a second home). The loan may be a mortgage, a line of credit, or a home equity loan. This allows you to reduce your taxable income by the amount of interest paid on the loan.

Note: You must file Form 1040 and itemize deductions on Schedule A (Form 1040), and prove your mortgage is a secured debt on a qualified home in which you own.

Exceptions: You cannot deduct mortgage interest on a mortgage that is over $1,000,000, or you have over $100,000 in home equity debt.

Refinanced?

If you’ve refinanced, you’ll be deducting points over the life of your new loan (as opposed to your regular mortgage, where you’ve been deducting points based on what you paid your lender to secure your mortgage over the course of your loan’s life – 15 years, 30 years…)

For example: Let’s say you paid $3,000 in points for a refinance of 30 years. You’ll divide 3,000 by 30 and pay $100 a year.

Went green?

If you made any energy improvements, such as installing solar electric, solar water heater, geothermal, any energy-efficient systems…you may be able to take a 10% tax credit up to a certain dollar amount. However, these are one-time credits. If you claimed your new energy-efficient windows last year, you can’t do it again.

Note: See Form 5695, Residential Energy Credits

Don’t forget to:

  • Keep track of your home-related expenses.
  • Track your capital gains (If you sold your main home last year, you’ll have to pay capital gains taxes on your profit from that sale). Keep your receipts as long as you own the property plus three years.
  • Deduct your home office (If you’re eligible, you can deduct $5 per sq. ft. up to 300 feet, or up to $1,500 a year).
  • Keep your mortgage payoff statements forever. You never know when you may need that proof.
  • Keep your appraisal or valuation used to calculate depreciation as long as you’re the owner plus three years.
  • Keep your property tax payment, year-end mortgage statement, PMI payment, and energy tax credit receipt for three years after the due date of the return showing the deduction.

North Padre Island Housing Report – March 2019

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

Look at this!! The Median priced homes on Padre Island this past March have gone up 19.4% compared to March 2018! That’s good news! However, we are stilling having rain with the fronts moving through and the number of Active listings has fallen. People don’t want to list when it’s rainy and ugly out there AND people don’t want to buy when it’s rainy and ugly. Where’s the sunshine?

The active market in March were homes priced $200,000 to $399,999. The higher end homes seem to continue to sit. Maybe a showing here and a showing there – but sales in the higher end is extremely slow.

Come on Spring…we are ready for you!! ~Cheri Sperling

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!


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


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North Padre Island Housing Report – January 2019

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

Single-family sales are still projected to slow down more so in 2019 and bounce back in 2020. Despite slower sales activity, the average Days on Market balanced at 147 days in January 2019; 10 days more than in January 2018.

Despite slower price growth, home-price appreciation outpaced wages and weighed on housing affordability. Texas’ affordability remained favorable compared with other states but continues a steady decline that began in 2013. More progress is necessary to balance the market. Six months of inventory is considered the equilibrium level and January 2019 showed 6.3 on Padre Island compared to 7.3 in January 2018. Padre Island’s median home price increased 9.7 percent; $200,000 – $299,999 being the popular price
line.

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!


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


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North Padre Island Housing Report – December 2018

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

The current construction boom is affecting sales of “used” homes. Since the end of the last housing boom in 2006, Corpus Christi has followed closely the statewide market. The number of new home permits reflects residential construction activity. The properties being watched closely are priced below $300,000.

Unlike the market for single-family homes, rental housing faced record high vacancy rates. Following Hurricane Harvey, residents displaced by damage have turned to apartments around Corpus Christi rather than properties on Padre Island.

Despite a recent slowdown in new home construction due in part to rising material costs and skilled-labor shortages, new construction is still selling strong. If the home looks good, priced right and marketed professionally – it’ll sell. With all the industry being developed in and around the Corpus Christi Ship Channel, Corpus Christi is going to benefit and home owners will benefit. The ongoing industrial construction activity is adding construction employment and permanent manufacturing jobs. Replacement of the Harbor Bridge by 2020 will add another 600 construction jobs during its peak time. Hang on Corpus Christi – times are going to be changing!

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!


Padre Island December 2018 Data (Click Pic below for PDF)


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Padre Island Annual Housing Data 2018 (Click Pic Below for PDF)


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North Padre Island Housing Report – November 2018

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

* The Island pricing has dipped since Labor Day in September. We also are seeing it the number of listing that are reducing pricing on a daily basis, particularly the new construction.
* Our ACTIVE listings are still slightly down – and, I attribute to the fact that as normal we head into the Holidays and people usually place a hold on buying/selling commensurately to wait until after the first of the year. Spring is the typical time frame for the uptick in activity.

* The higher priced homes, over $500,000 are still struggling as of this time. Not as many buyers in that range at this time. If a Seller receives a contract he needs to try and make it work because the competition priced over the $500,000 mark have Seller’s that want to move onward and may be more negotiable.

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!

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North Padre Island Housing Report Oct 2018

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

* The Island pricing has dipped since Labor Day in September. We also are seeing it the number of listing that are reducing pricing on a daily basis, particularly the new construction.
* Our ACTIVE listings is down – and, I attribute to the fact we’re going into the holidays and many folks are going to wait until after the first of the year, nearer Spring and hope the real estate market on Padre Island begins to turn upward.
* The higher priced home, over $500,000 are struggling. Not as many buyers in that range at this time. If a Seller receives a contract he needs to try and make it work because the competition priced over the $500,000 mark have Seller’s that want to move onward and may be more negotiable.

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!

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8 Benefits of Buying a House at Year’s End

endofyearrealtorSummer may be real estate’s busy season, but winter offers great opportunities for buying a house, especially for renters looking to become homeowners, growing families trading up to larger houses and baby boomers seeking homes to fit their evolving lifestyles.

Generally speaking, your housing choices during the late fall are still healthy. October and November are great months to go house hunting. December is usually sparse, market-wise, but if that fits your timeline, you could luck out.

The benefits to buying a house at the end of the year include the following:

1. Tax savings

If you close by December 31, you can deduct mortgage interest, property taxes, points on your loan and interest costs. These deductions are significant, especially in the early years of your loan when you’re paying off a lot of interest.

2. Motivated sellers

Many sellers want to enjoy tax savings on the next home they purchase. They may accept lower bids in order to meet Uncle Sam’s deadlines. However, if you’re in a strong seller’s market, you’ll want to be conservative and heed advice from your real estate professional.

3. Builder incentives

If you’re buying a house that is brand new, there’s a good chance builders may push to close the books on their year—and meet quotas. They may offer upgrades or little extras to sell houses before the calendar turns.

4. Available movers

Many moving companies are booked six weeks or more in advance during the busy summer months. In the fall and winter, it’s normally easier to secure the services of a moving company or rental equipment on shorter notice.

5. Paying toward something you own

If you’re renting, your monthly check goes toward something that will last you a month: You’ll never see any return on that money. When you buy a house, your monthly mortgage payment goes toward an investment—and ultimately a roof that’s yours.

6. Consistent payments

Landlords can increase your rent. Once you secure a mortgage, you can rely on consistent payments if you have a fixed-rate loan.

7. Freedom to renovate

Modernize your kitchen, paint your home’s exterior neon orange, change your fixtures orreplace your carpeting; whatever inspires you, no one can tell you, “No!”

8. Gaining equity

In the beginning, most of your payment goes toward interest. But gradually more will go toward paying off your principal, meaning you build up equity—or savings—in your home. Another factor in equity is appreciation: As home values rise, so does your rate of equity.

via Realtor.com

North Padre Island Housing Report – Sept. 2018

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

* Median pricing on Padre Island raised 11.5% in the month of September 2018 compared to September 2017 pricing.
* We are down in Active homes For Sale on Padre Island today. Padre Island is down is Closed sales by 13% – closing only 40 in September 2018.
* If a property is priced correctly, it’s taking about 123 days, on the Average, to close. The supply of waterfront homes is down. Supply & Demand!

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!

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North Padre Island Housing Report – August 2018

If you are looking to Purchase or List a home on Padre Island…Ask for the ONLY Padre Island EXPERTS!

* The Median Priced home is down to $254,050 – down 16.4% compared to August 2017.
* The Active – Homes For Sale is down to 329 – down 7.6%.
Days on the Market: 110
Days to Close: 30
TOTAL 140 Days on the Market in 2018
16 days less than August 2017

Our Coastline team lists and sells throughout the Texas Coastal Bend – but we Specialize and are considered the area Experts on Padre Island. When you think about Real Estate on Padre Island, everyone thinks about Coastline Properties. Come Coast Awhile….with us!!

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Did You Know?

DID YOU KNOW…THIS TEXAS CITY HAS THE HIGHEST SHARE OF $1 MILLION HOMES….

Austin, Houston, and Dallas were ranked in Lending Tree’s top 50 cities nationally with homes valued at more than $1 million.

Austin’s share of million-dollar homes was 2.16% putting it at No. 11.   Houston was ranked No. 15 with a 1.52% share, with Dallas ranked No. 18 with a 1.31% share of million-dollar homes.

DID YOU KNOW…CITY HAS THE MOST-DEMANDING RENTERS….

Renters in San Antonio seek amenities like air conditioning, parking, a balcony, a pool, and hardwood floors.  That may sound standard, but they have the highest amenity demands among all the cities analyzed by Apartment List’s Rentonomics blog.

The study also finds that renters in affordable markets tend to have higher demand for amenities than those in the priciest markets.  San Antonio is one of the nation’s most affordable large cities for renters, with a median two-bedroom rent of $1,050.

DID YOU KNOW…TEXAS IS GETTING MORE DIVERSE

Though California has the largest Hispanic population of any state, Texas saw the largest numeric increase in Hispanic population (234,000 people) in 2017, according to recent data released by the U.S. Census Bureau.  Starr County, Texas, has the highest percentage of Hispanics of any county in the U.S., with 96.3%.

Texas also had the largest black or African-American population in the country at 3.8 million.

DID YOU KNOW…HURRICANE HARVEY RAINFALL BREAKS RECORDS

Hurricane Harvey was the most significant rainfall event in U.S. history, both in scope and peak rainfall amounts, since the U.S. Geological Survey records began in the 1880’s.  The eight-day rainfall exceeded 60 inches in some locations, which is 15 inches more than average annual amounts of rainfall for eastern Texas and the Texas coast.  The areas affected by Harvey also was larger than previous events.

DID YOU KNOW….“TALK TO A TEXAS REALTOR”

An advertising campaign launched in June 2018 by the Texas Association of REALTORS  tells consumers that, no matter what type of real estate transaction they’re contemplating, talking to a Texas REALTOR  is the place to start.  The campaign consists of online ads, over-the-air and internet radio, video, social media, email, and online search engines.  It targets consumers interested in residential, commercial, property management, and farm and land transactions.  The campaign, which also includes Spanish ads, stresses that Texas REALTORS  are the trusted professionals who can help with pricing, negotiations, and advise.

DID YOU KNOW…Immigrant households will play a larger role in growing housing demand.  Texas is one of only a few larger states benefiting from positive net migration, which means more people are moving in than out.  While much of this migration comes from households moving from other states, that sources has tapered down while international households continue to provide steady growth.   Good to know!

Padre Island Housing Market July 2018

THE HOUSING MARKET IS HOLDING STEADY THIS SUMMER ON NORTH PADRE ISLAND. NEW LISTING ACTIVITY STILL BOLSTERING 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 HEALTHY SUMMER 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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Padre Island Housing Report June 2018

THE HOUSING MARKET IS RED HOT AS SUMMER IS IN FULL SWING HERE ON NORTH PADRE ISLAND. NEW BUYER ACTIVITY STILL DOMINATING 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

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What is the true cost when a Real Estate AGENT Cuts their commission?

In today’s competitive real estate market in Corpus Christi, some agents are offering to cut their commissions in an attempt to attract more business. The truth is that they want to be listing agents. Here are some questions to ask before listing your home with an agent who’s willing to take a “pay cut” to work with you:

WHAT IS THE REAL ESTATE AGENT‘S PRIMARY MOTIVATION FOR CUTTING THEIR COMMISSION? In all likelihood, it’s because they are in a position where they simply need the business that badly. Do you really want to trust the sale of your property to someone who is desperate for your business? There is a difference between WANTING your business and NEEDING your business.

IF YOUR PROPERTY DOESN’T SELL, WHAT HAVE YOU ACCOMPLISHED? There is a difference between listing a property and selling a property. What the agent didn’t tell you is that they will make less money selling your property than if they sell another property on the market. You want an agent who’s going to be excited about bringing you an offer.

WHICH SERVICES ARE THEY GOING TO CUT? If you cut your commission, then you have to cut service. Many factors come into play in finding the right buyer who’s willing to pay your price. To get top price for a property, you need as many services for you as you can possibly get.

WOULD YOU REALLY BE EXCITED ABOUT A 15% PAY CUT? A 1% reduction in commission equals more than 15% of the total commission or 60% of the selling agents commission. How can the agent really be excited about working for you? Is the agent being honest with you when he or she tells you that they’re excited about getting the property sold?

ARE THEY GOING TO COOPERATE WITH OTHER BROKERS? What are they going to pay the other brokers? Why are those brokers going to be excited about taking a 15% pay cut? To get top price for your property, you need to have all brokers in the marketplace excited about selling it.

IS THE REAL ESTATE AGENT A SKILLED NEGOTIATOR? If the other broker is willing to let you negotiate them out of 15% or more of their income from the sale of your property, will they also let the buyer negotiate 15% or more from the purchase price of your property? What is that other broker’s sale price to list price ratio? You might be costing yourself tens of thousands of dollars by trying to save a couple thousand dollars in commissions.

What’s the most important thing to you in the sale of your home? Is it paying a lower commission, or is it getting “top dollar for your home?” We are in the business of “protecting” the financial interest of our sellers, and want you to receive top dollar for your property, at Coastline Properties it is our mission to insure that you receive the absolute best buyer for your home!

Padre Island Housing Report – March 2018

THE HOUSING MARKET IS PICKING UP AS WE HEAD INTO SPRING. WE ARE UP 14% ON MEDIAN SALES PRICE COMPARATIVELY TO 2017 HERE ON NORTH PADRE ISLAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 200-300K RANGE STILL.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND & PORT ARANSAS.  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

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THE “TAX CUTS AND JOBS ACT”

Just before the New Year, President Trump signed the Tax Cuts and Jobs Act. You’ve probably read a bit on the topic, but what does it mean for all you valued homeowners out there?

The National Association of REALTORS® (NAR) worked throughout the tax reform process, on behalf of all of us, to preserve the existing tax benefits of homeowners and investors. Although many areas of the old law were retained, there were also many changes. Let’s take a look at what is different – spark notes style.

Provisions Affecting Current and Prospective Homeowners:

Tax Rate Reductions – The new law, in general, provides lower tax rates for those filing individually. Although many will pay lower taxes, it is not a blanket rule. The tax rate schedule retains seven brackets with slightly lower marginal rates of 10%, 12%, 22%, 24%, 32%, 35%, and 37%. However, the current maximum rates on net capital gains remains the same. Over the next decade, the total size of the tax cut from the rate reductions equals more than $1.2 trillion.

Mortgage Interest Deduction – Now, for loans taken out, the new limit on deductible mortgage debt has been reduced from $1 million to $750,000. Current loans of up to $1 million are grandfathered. The final bill repealed the deduction for interest paid on home equity debt through the end of the year 2025. And if the proceeds are used to improve your property, interest is still deductible on home equity loans or second mortgages. Second homes? Interest remains deductable, but is still subject to the aforementioned limits.

Standard Deduction – The new standard deduction for single filers is $12,000 and $24,000 for joint returns (indexed for inflation). This significant increase will reduce the value of the mortgage interest and property tax deductions as tax incentives for homeownership.

Repeal of Personal Exemptions – Before, filers could deduct $4,150 in 2018 for the filer and their spouse and each dependent (if any). These exemptions have been repealed in the new law. This change alone mitigates (may even eliminate) the positive aspects of the higher standard deduction, as it would more than make up for the loss of not receiving personal exemptions.

Deduction for State and Local Taxes – Although Texas doesn’t have state taxes, the new bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes.

Deduction for Casualty Losses – Now there is a deduction only if a loss is attributable to a presidentially-declared disaster.

Moving Expenses – The final bill repeals moving expense deduction and exclusion, except for members of the Armed Forces.

It sounds as though home ownership will continue to be a strong and stable driver for our economy. And NAR will continue to work hard for us. They said it best: “Home ownership is not a special interest, it is our common interest.”

Padre Island Housing Report – January 2018

THE HOUSING MARKET IS SLOWLY BUT SHOWING SOME SIGNS OF IMPROVEMENT. WE ARE SEEING A LULL IN PRICING COMPARED TO LAST YEAR. THE DIFFERENCE IS THE SUPPLY AND DAYS ON MARKET ARE LOWER THAN PREVIOUS HIGHS, SHOWING AN UPWARD TREND IN BUYER DEMAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 200-300K RANGE.  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 HAPPY & HEALTHY 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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Padre Island Housing Report – Dec. 2017

THE HOUSING MARKET IS SLOWLY BUT SURELY STARTING TO PICK UP IN THE NEW YEAR. WE ARE SEEING A LULL IN PRICING COMPARED TO LAST YEAR. THE DIFFERENCE IS THE SUPPLY AND DAYS ON MARKET ARE LOWER THAN PREVIOUS HIGHS, SHOWING AN UPWARD TREND IN BUYER DEMAND. LOTS OF NEW BUYER ACTIVITY IN THE THE 300K RANGE.  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 HAPPY & HEALTHY 2018! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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Padre Island Housing Report – November 2017

THE HOUSING MARKET CONTINUES TO BE A BIT SLUGGISH AS WE CLOSE OUT THE YEAR WITH A SNOW DAY. WE ARE STILL SEEING LOTS OF NEW BUYER ACTIVITY IN THE THE 300K RANGE.  TAKE A LOOK AT THE STATISTICS ON WHAT’S HAPPENING HERE ON PADRE ISLAND,PORT ARANSAS & 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 CLOSING OUT 2017, WISHING EVERYONE A VERY HAPPY & HEALTHY HOLIDAY! GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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Safety 101

safety-101I just had the pleasure of taking a safety course with our own city Sheriff Jim Kaelin, in lieu of Realtor® safety month. Although the course was geared toward real estate agents learning safety tips, it occurred to me that these tips and tricks apply to far more scenarios than just being cornered in a vacant home. So I thought I’d share some of the valuable and potentially life-saving techniques that we should all keep in our back pocket – alongside our tactical keychain.

Have a Plan

The most important key to escaping your attacker is to have a plan. The whole goal is to buy yourself time to get away. Sheriff Kaelin told a story that resonated with me. He’ll get groups together, put a series of tinker toys in front of them, and give them 15 seconds to use the toys to create a horse. After 15 seconds, none of the groups had anything that even sort of resembled a horse. They were then told to try again, but they now were given 15 minutes. At the end of 15 minutes, the toys were organized by length, size, etc. and each group had a horse – a head, a body, four legs, a tail. For the third time, they were asked to build a horse, and again given only 15 seconds. The groups were silent, and after 15 seconds, they all had horses. The only difference between the first 15 seconds they were given and the second 15 seconds was that they had a plan.

In the case of an attack: Breathe. Think. Talk. Distract. Escape.

If You’re Grabbed From Behind

Do not immediately reach for your weapon. Talk. Ask them what they want. First, using your right hand, tell your attacker you’re going to grab your wallet or money clip to give to them. Then tell them you’re going to hand over your keys (or whatever it is you may have that they’re likely to want). Again, using your right hand, pass over something else. This is what they call verbal judo, where now your attacker isn’t on such high alert. Now it’s escape time. Using your left hand now, your attacker will only assume you’re reaching for more valuables (as most people are right handed and they will not expect you to reach for a self-defense tool using your non-dominant hand). Instead, pull out your mace, taser, knife, gun, pen, comb, etc. reach across your right shoulder and quickly spray, shoot, stab, etc. Your goal is not to kill – it’s okay if you do not even hit them. Your goal is to stun them enough to let you lose. Escape.

Hands as Tools

If you do not have a weapon, use your second most valuable tool – your hands. In an effort to trouble your attacker so that you have time to break away, start from the top. With your pointer and middle finger, go for the eyes. This will affect their vision and allow you to run. Nose, next. Use the palm of your hand and go straight for the nose and then their ears. Nose will cause tears and ears will cause ringing. Throat punch to knock their airway, knee to the groin (no explanation needed), and finally a kick to the shins. They should be down and you should be out!

Make Noise

DISTRACTION should play a major role in your plan. Once they think you may not be a threat as you’ve proven that you just want to cooperate, pump up the volume! All you need is for your attacker to be startled as they’ll lose their grip or look away just long enough for you to make your exit.

  • Gun shot – a clearly loud and scary noise sure to make anyone jump!
  • Keychain alarm – if you happen to still have your keys on you or in reach, hit your alarm button.
  • Personal alarms – these look like little remotes that can be set up as either motion-detector devices or as a manual activation. They emit an extremely loud sound when activated.

There are also several cell phone apps that can be helpful in a dire situation. One such app to consider downloading for your whole family is called Life360. It is a family locator, messaging tool and communication app all in one.

Chances are, you’ll never need to use these tactics. But, perhaps you and your loved ones should have the conversation – how are you going to build your horse?

 

Padre Island Housing Report – September 2017

THE HOUSING MARKET HAD A BIT OF SLOWING DOWN DOWN DUE TO HURRICANE HARVEY. AS WE MOVE PAST THE HURRICANE SEASON IN SUMMER 2017, WE ARE SEEING LOTS OF NEW BUYER ACTIVITY AS WE GET CLOSER TO HALLOWEEN.  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 A GREAT 4th QUARTER OF THE YEAR, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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Padre Island Housing Report – August 2017

THE HOUSING MARKET IS SHOWING GREAT PROMISE WITH A CONTINUED UP TICK IN HOME VALUES, AS WE MOVE PAST THE HURRICANE SEASON IN SUMMER 2017.  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 A GREAT 3rd QUARTER OF THE YEAR, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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Padre Island Housing Report – July 2017

THE HOUSING MARKET IS SHOWING GREAT PROMISE WITH MANY NEW LISTINGS, AS WE ARE IN THE DOG DAYS OF SUMMER 2017.  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 A GREAT 3rd QUARTER OF THE YEAR, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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Padre Island Housing Report – May 2017

THE HOUSING MARKET IS SHOWING GREAT PROMISE WITH MANY NEW LISTINGS, AS WE MOVE INTO SUMMER TIME OF 2017.  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

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PADRE ISLES PROPERTY OWNERS ASSOCIATION – DID YOU KNOW?

As a Real Estate Agent, I am commonly being asked questions regarding the Island’s POA. Whether you are new to the Island or have lived here many years, I hope to provide some clarity and possibly unknown information to those who may be wondering…what are they all about.

The POA oversees 26 subdivisions, with the exception of Packery Channel (who doesn’t have one), and Cane Harbor (who has their own). All but three subdivisions (Seapines, Section A and Section B) that DO belong to the POA pay the new fees (that aren’t really new anymore). Back in 2007, they changed. Annual POA fees are calculated by the size of the lot itself. Prior to 2007, the fees were .1 cent a square foot for an interior/water access lot, and .2 cents a square foot for a waterfront lot. With the exception of the three aforementioned subdivisions that did not approve the fee change, they’ve been .2 cents a square foot for interior/water access lots and .10 cents a square foot for waterfront lots for 10 years now. These annual fees cover the following: Maintaining the medians at Whitecap and Seapines, common area maintenance such as cul de sacs, canal end landscaping, and the 7 public boat ramps around the Island. The reason the cost is higher for a waterfront home is because these fees also cover canal bulkheads.

FACTS:

POA

  • When voting, POA board members need 50% + 1 to pass.
  • They have a seed account in the event of a hurricane in access of $9,000,000, of which they added $300,000 to this past year.
  • They spend roughly $500,000 a year on repairing canal bulkheads.
  • The architectural control committee (ACC) is responsible for reviewing plans for new builds, renovations, fencing, decks/docks, shade structures/any structure really, but NOT landscaping. Currently, the committee has 4 members, but they are seeking a 5th.
  • The ACC is also in charge of “unsightly properties,” defining them, and working on cleaning them up to maintain property values.
  • A gentleman is out on the canals every single day cleaning the debris.
  • On the POA website, you can find requirements for building, setbacks, decking depths, etc. for each and every subdivision.
  • The POA has three notaries.
  • The POA has a swapping library.
  • Approximately 5,300 residents are within the association, making PIPOA the largest HOA in Texas and possibly the United States.

ISLAND STATS

  • Available lots left:

629 interior

148 waterfront

87 multi-family

277 commercial

  • The population on the Island is approximately 13,000, compared to roughly 330,000 in Corpus Christi.
  • Of all crime committed in Corpus, only 2% of it comes from the Island, and 60% of that is “victim assisted,” meaning garages are left open, items in boats aren’t put away, etc.
  • 525 children are enrolled in the Island charter school.
  • All parks on the Island are actually owned by the city.
  • Water depths: 18 inches – 2 feet near the bulkheads, and roughly 6 feet in the center of the canals.
  • It is a NO WAKE ZONE until you get to the ski canals or the Laguna Madre.

ISLAND STICKER

  • Often referred to as the “vanity sticker” as Island residents are proud to show where they live, the sticker allows residents to park at the boat ramps.
  • Common misconception: the sticker DOES NOT allow you back on the Island in the event of an evacuation. Sticker or not, you’ll only be allowed back on with two forms of ID showing your Island address AND utilities have to be back on before anyone is allowed access.

 

 

Padre Island Housing Report – April 2017

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

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Padre IslandHousing Report – March 2017

THE HOUSING MARKET CONTINUES TO BE HEATING UP AS WE MOVE INTO FULL SPRING TIME OF 2017, THE BEST WEATHER 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

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North Padre Island Housing Report – February 2017

THE HOUSING MARKET CONTINUES TO BE HEATING UP AS WE MOVE INTO SPRING OF 2017.  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

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Coastline Properties Voted Business of the Year

Seasons Greeting Friends & Colleagues!

Over the years it has been our pleasure to serve many clients in all different facets of Real Estate.  We have given our best whether it was representing a buyer, or seller.  Our property management division has been a very important part of our business for the past decade and we have brought many owners and tenants together to create a great working experience while maintaining all properties with excellence.  Coastline Properties has supported many great charitable causes over the years, and we do it because we love our community!

We strive to give our best in everything we do, not because we are required to…but because we know that relationships are the most important part of our business.  We like to often say “Amateurs focus on sales, Pros focus on relationships”.

We are truly grateful & honored to receive the award from the Padre Island Business Association as “Business of the Year”.  This award has come as a great surprise to the team, and we feel elated to work with so many Padre Island business owners and citizens.  We are thrilled to see how many more new faces and lives we can touch this New Year and want you to know our door is always open if we can ever help you in anyway this coming year.  We are much more than Real Estate agents, Coastline Properties is here to make an impact on our community and improve the lives of the people living here and our future residents as well.

Have a wonderful holiday season…Cheers to 2017!

All our best…. Coastline Properties Team

 

Meagan Furey – voted Citizen of the Year

We are thrilled to announce our very own Meagan Furey has been voted “Citizen of the Year” by the Padre Island Business Association. This is a very prestigious award and we feel it could not have gone to a more genuine, hard working community focused individual.  Congratulations Meagan …We are so proud of you for 2016 PIBA Citizen of the Year Award.  You inspire us all, thank you for all your dedication for making our little slice of paradise an amazing place to work and play! ~ Coastline Properties Team

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North Padre Island Housing Report – November 2016

THE HOUSING MARKET CONTINUES TO BE HEATING UP AS WE WRAP UP 2016.  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.  WE WISH YOU A VERY HAPPY HOLIDAY SEASON, GIVE US A CALL AND DISCUSS THE MANY OPPORTUNITIES TO OWN A PIECE OF COASTAL TEXAS! (361) 949-0101

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Regional Home Sales Report

As Realtors we are always asked about the market, and each market has different conditions that weigh in on whether its a buyers or a sellers market. We believe the article below handily brings some interesting statistics to the table, at the same time we believe each area of the city needs to be examined to determine the market conditions.  Also, keep in mind the time of year..it’s very typical for a slowing down to happen toward the end of the year as families settle in for the Holidays and typically don’t make decision’s about moving unless forced to by job’s or other circumstances.  Currently there are some great buys out here on Padre Island, and we welcome your questions about our local market to determine if it is good time for what your particular goals might be.  ~Coastline Properties Team

Via CALLERTIMES – Home sales in the Corpus Christi area were sluggish in October, falling to nearly their lowest level this year.

A total of 392 homes were sold in the Corpus Christi Metropolitan Statistical Area in October, according to the latest Economic Trends report by the Corpus Christi Regional Economic Development Corp. The report, released Monday, cited data from the Real Estate Center at Texas A&M University. That’s the lowest volume of home sales this year since January, when 322 houses changed hands.

Sales in October 2015 and October 2014 were 461 and 441, respectively.

According to the report, 954 residential permits have been issued by the city of Corpus Christi through the first 10 months of this year, compared 934 during the same time frame a year ago and 1,088 for all of 2014. The number of commercial permits issued from January to October also dropped slightly from the same time in 2015, to 269 from 272.

Other highlights:

  • Regional unemployment dropped below 6 percent for the first time in four months. The jobless rate in October was 5.6 percent, a drop from 6.2 percent in July, August and September. Unemployment was 6 percent in June. Before this summer, the last time unemployment was this high, according to the Bureau of Labor Statistics, was May 2009, when the jobless rate hit 6.8 percent.
  • The number of year-to-date airline enplanements, or passenger boardings, at Corpus Christi International Airport was 282,581 from January to October. That represents a 3.3 percent decrease from 292,331 during the same period a year ago.
  • Year-to-date sales tax collection in Alice, Beeville, Corpus Christi and Robstown were well below their pace of a year earlier. Corpus Christi collected $60.4 million in such collections from January to October, compared with $65.5 million during the same period in 2015. Alice saw a 42.4 percent drop in revenues when comparing the same 10-month period. Its year-to-date sales tax collections were $4.35 million in October and $7.55 million in October 2015.   via Chris Ram

Proud To Be the Face of Padre Island Real Estate

We are so excited to be nominated for the 2nd year in a row from “The Bend Magazine” to be the Face of Padre Island Real Estate!  This year has been a great year for Real Estate and we are eternally grateful to all of our clients for allowing us to serve them by giving them the absolute best service in the the industry!  We look forward to another year ahead to give our current and future clients the very best attention and world class service.

OUR PLEDGE:

WE PLEDGE to be honest and always put my client’s interest first. WE GO BEYOND what the law requires.  WE FIGHT for homeowners’ rights.  OUR CLIENTS have a lot at stake. We owe it to them to be more than just an ordinary real estate agent. WE VOLUNTEER in our community, because we live there too.  WE WORK HARD to create opportunities for more to people to afford homes. WE TAKE COURSES to increase our expertise and skill sets, so we can better serve you as a homebuyer, seller, or commercial property investor & rental property owner. WE ABIDE by a strict code of ethics.  WE ARE PROTECTORS of our clients and insure they get the absolute best from us and their real estate transactions.  WE GIVE to our community and support many charitable causes, not because we have to… because WE BELIEVE it is our duty to our community to give back to those in need. IN GOD WE TRUST!

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THE TIME OF THE TOWNHOUSE

islandtownhomes448x298These dwellings are having their shining moment, thanks to an increased demand by both first-time buyers and Boomers alike! Both appear to be seeking the appeal for walkable communities in which the amenities are grand, you can get a great bang for your buck, and often less maintenance (big perk for both busy, young families and Boomers alike!).

Nationally, the number of townhouses built last year increased 18% percent over 2014. Here on the Island, the number is even more incredible!

70 townhomes were sold between September 15, 2015 – September 15, 2016

44 townhomes were sold between September 15, 2014 – September 15, 2015

That’s a whopping increase in townhome sales! The long-run prospects for townhouse construction are positive given the large numbers of homebuyers looking for high density “neighborhoods,” near the action (eh em, the new Marina District perhaps?) that offer proximity to the happenings along with community amenities.

Perk #1: Own That Land, You American Dreamer You!

What’s the main difference between a condo and a townhome you ask? It’s simple. As a condo owner, you own only your unit, nothing below or above you. As a townhome owner, you own the planet Earth beneath you, and the sky above you. And, as the Homeowners Association will nearly always maintain the complex grounds, you can be a lazy bum and still have a nice yard, albeit likely small.

Perk #2: That HOA Though…

So you own a nice patch of grass, or maybe a cute pom pom bush. Your HOA will take care of it! Many HOAs will even allow owners to plant that desired petunia border you’ve always dreamt of, just ask. So long as you pay your monthly dues, your grass will be mowed, your exterior painted, your roof re-shingled, your pool cleaned, your exterior insurance paid, and the list can go on. Now, each HOA will be different, and each will have a list of items they maintain and don’t maintain, so make sure you know what’s agreed upon and who does what in the yard. As many prefer to keep the fronts looking manicured and uniform, you may have to plant your Sneezewort Yarrow in the back.

Perk #3: Don’t Ever Leave!

When you buy a townhouse, it often comes with a community, and that community has amenities. Some developments have a pool, a laundry room, possibly boat slips (if on the canal) maybe a recreational room, etc. You may not have to leave but to go do your grocery shopping! This can be very appealing. And as an owner, you own a percentage of each of the common facilities.

Perk #4: Save Some $$

Although this isn’t a steadfast rule here on Padre, townhouses can be less expensive than single-family residences. Townhouses sometimes have the fancy upgrades built right in that you otherwise couldn’t afford in a house, like granite countertops, high-end appliances, or eco-friendly materials. And although they are often multilevel that share a side wall or two with another unit, they can have as many bedrooms and bathrooms as will fit in the floor plan, just like a single-family house. The point is, you can get a lot of the same stuff in a townhouse that you can find in a regular house, but you typically pay less for it.

Perk #5: Tight-Knit Community

Having Mrs. Kravitz nearby isn’t always a bad thing! With units that are close, and parking areas that may be shared, it’s possible that you and your neighbors see and know what’s going on with one another. As most townhomes on the Island do not allow short-term rentals, the neighborhood is often more stable in terms of less turnover and more face familiarity. This can be desirable for the young family who needs neighborly help watching kids, or the more “medically fragile” older couple who may find peace of mind knowing that their neighbors could check on them if they go sight unseen for a day or two. Travel a lot? Now Nosie Nelly doesn’t seem so bad, as she’ll be able to stink eye anyone who looks out of sorts lurking around your townhome.

With 84 townhomes currently for sale on the Island, maybe it’s time to pay them some attention!

Paddle For Parkinson’s Sept. 3, 2016

We are thrilled to once again be a sponsor for the “Paddle for Parkinson’s – Catch the Cure” Races here on North Padre Island Saturday, September 3 2016.  This is our 3rd year sponsoring this event and it is sure to be a great day for all participants and attendees. Last year many of our realtors & family members placed either first or second in several events particularly in the “Kayak Competition”.  Come out for a great day and participate and give to such a great cause!

GO TO their website at www.CatchtheCure.org
 

Padre Island Housing Report June 2016

The Housing Market is Hot,Hot, Hot right now.  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.  The summer is going by fast, give us a call and discuss the many opportunities to own a piece of coastal Texas! (361) 949-0101

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Hydrostatic Testing

plumbing-840835_640You got your home under contract! You’re so excited, a buyer loves your home as much as you do! Then, inspections are set up. The three inspections typically performed on a home here are the general inspection, the pest inspection, and the plumbing inspection.

It’s this last one that seems to be an inspection that, as of late, has been causing some unease among sellers.

Fear not, sellers! The truth is, this is not at all a scary or intrusive test. But it is an important one. The only way to calm a fear or unease is to be well informed. Here I’ll break it down so that when the time comes, as either a buyer or a seller, this test is nothing to think twice about.

Definition: A hydrostatic test is a way in which pressure vessels can be tested for strength and leaks.

Don’t let the word pressure fool you. There is a common misconception that pressure is put on your system during this test. That is far from the truth. What the plumber does is quite simple. They will find your sewer cleanout/sanitary drain pipe and insert a testball/balloon into the piping and inflate it near the perimeter of the foundation. Next, they’ll simply fill the system up with water. They will then find a commode and/or shower on the lowest level and monitor the water levels. If the water maintains its level (they’ll typically watch for roughly 15 minutes) then there are no leaks! IF the water happens to fall, there is indication of a leak somewhere in the system.

Leaks often occur when foundations have shifted. Because we are built on sand here on the Island, it’s relatively rare to have a failed hydrostatic test as foundations move less on sand. In the case of a failed test, the next step is to find where the leak actually is. That test is slightly more involved, but still not dangerous to the system. An Isolation Test is what should be scheduled next, and this test finds the actual source of the leak. It’s smart to have a different plumber perform this test to eliminate the possible suspicion of an intentional failed test to get more business (as the isolation test is far more expensive).

The entire inspection/hydrostatic test takes roughly 20 minutes. Like a ninja in the night, you may not even know they were there! Our local plumbers are knowledgeable, true professionals who are happy to answer your questions or concerns.

Note: This test typically costs around $85, and only a licensed plumber is to perform this inspection.

Did you know? A hydrostatic test is DIFFERENT than a static test. They are sometimes accidentally interchangeably used in casual conversation regarding the plumbing inspection, and there’s where some confusion can occur in terms of whether pressure is put on your system during a hydrostatic test. A STATIC test is what indicates pressure, and you can do it yourself – it’s a gauge that you can purchase at any hardware store that you screw on to your hose bib. Then, turn the water on and the gage will tell you how much pressure it is outputting. Don’t let a static test be confused with a hydrostatic test.

CONSUMER BEWARE: Rebuilding after a disaster

contractors2With the flooding and other tragedies that have occurred across the state, it is important that consumers be aware of Chapter 57 of the Texas Business and Commerce Code that was enacted by HB 1711 effective September 1, 2011. The bill applies to contractors who remove, clean, sanitize, demolish, reconstruct, or otherwise treat improvements to real property as a result of damage or destruction to that property caused by a natural disaster. Specifically, it requires that a “disaster remediation” contract must be in writing and prohibits a “disaster remediation contractor” from requiring payment prior to beginning work or charging a partial payment in any amount disproportionate to the work that has been performed. However, the statute exempts contractors that have held a business address for at least one year in the county or adjacent county where the work occurs.

Please see the text of HB 1711 for details. Contact your local Home Builders Association for a list of contractors.

Download this document for important phone numbers and information on rebuilding after a disaster. (CLICK HERE TO GET YOUR PDF)

5 Real Estate Trends That Will Dominate 2016

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:

  1. ‘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.”

  1. 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.”

  1. 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.”

  1. 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.

  1. 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)

THE REVERSE MORTGAGE, REVISED!

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It’s no longer just a refinance tool, but now also for use with purchases!

First let’s review what a reverse mortgage is. It’s a loan available to homeowners who are at least 62 years old, where instead of making monthly payments to a lender, the lender makes payments to the borrower. The idea is to aid elders and retirees who have wealth in their homes, but have limited income, to cover their basic living expenses and health care expenses.

BUT there is a new program that we should know about. It is called the Home Equity Conversion Mortgage (HECM) for Purchase product. This can greatly enhance the real estate service options we can offer our senior customers who would like to purchase a new home while still maintaining their retirement goals. Many mortgage companies in our Coastal Bend now have departments offering this option, which could be valuable for many seniors looking to relocate closer to family members, downsize, upgrade, or move to an active adult community.

This is an exciting option for qualified homeowners who are purchasing a home. This mortgage option allows homeowners to keep the home in their name while not having any monthly payments.

Who qualifies?

If you are 62 or older, will use the home as your primary residence, have no federal debt delinquency, can pay annual property taxes and homeowners insurance, vow to keep the property presentable, the property meets FHA guidelines, and agree to participate in a counseling session, YOU are qualified!

So how does it work?

When bundling the HECM with a new home purchase, the buyer can buy the property by mixing the HECM loan proceeds along with the proceeds from their previous home sale and/or savings to complete the transaction.

For example: Charlie is looking to downsize. He receives $700,000 from the sale of his home. He buys a home for $300,000. HECM loans Charlie $160,000 ($10,000 to cover closing costs). Charlie puts $150,000 as his downpayment. The remaining $400,000 goes straight into Charlie’s pocket!

  • It involves financing that doesn’t require monthly principal and interest mortgage payments
  • It includes increased purchasing power for those who are upsizing or downsizing
  • It has a streamlined closing process as the buyers are purchasing and getting a HECM all in one transaction
  • It may include supplemental income to support a better retirement, including a growing line-of-credit

Repayment

Just like other loans, the HECM loan must be repaid. But it is unlike traditional loans in that this repayment isn’t due until the owner has sold the home, no longer uses it as their primary residence, or passes away. When one of these scenarios occurs, the HECM and any accrued interest and mortgage insurance must be paid, but the perk is that the homeowner will never pay more than the home’s market value at the time of repayment.

So run, don’t walk! Your dream retirement home is waiting…

Coastline Properties – The Face of Padre Island Real Estate

We are delighted to have been nominated “The Face of Island Real Estate” in this months Issue of The Bend Magazine.

It’s incredible to discover so many other community leaders that are making waves in the Coastal Bend by being dedicated to their profession.  We salute all those businesses out there that truly understand the nature of customer service and work so tirelessly to care for and understand their clients needs.  Thank You Corpus Christi!!

coastlinebend1  coastlinebend2

 

The Bend Magazine – November 2015

Texas Home Prices Climb Likely To Continue, Says Real Estate Economist At Texas A&M

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COLLEGE STATION – Recent home price indices (HPI) all indicate another increase in Texas home prices, a trend that will likely continue for a while, says an economist with the Real Estate Center at Texas A&M University.

CoreLogic’s HPI, one of several key indicators that center researchers track, showed an 8.5 percent year-over-year increase in Texas home prices in February. Prices in Houston-Sugar Land-Baytown and Dallas-Plano-Irving increased 10.4 percent and 9.3 percent, respectively.

“As long as inventory stays tight, and as long as demand stays high relative to supply, we’re going to keep seeing these kinds of priceincreases,” said Center Research Economist Dr. Jim Gaines.  Center data show statewide housing inventory in February was at 3.1 months. Houston’s inventory was at 2.7 months in February, while Dallas was at 1.8 months. An inventory of 6.5 months is generally considered a balanced market.

While the shortage of pre-owned single-family homes on the market is contributing to the market’s tightness, Gaines said there’s also a lack of new product.

“Home builders have not been building houses as fast as they have in the past,” he said. “They’re doing the best they can, but that growth is not adding to the total inventory.”

Gaines said the demand for new homes is still there, thanks to economic growth, job growth and people moving to Texas. The biggest problem is the lack of lot inventory and land development.

“Historically, Texas housing markets have maintained a good balance of supply and demand because our building industry could build houses fairly easily, fairly quickly and fairly cheaply compared with other states,” he said. “Land costs and labor costs were lower. The Texas land development model simply worked. But financing for land development and lot development dried up between 2009 and 2013, so all of a sudden there’s this shortage, and it’s going to take several years for that to get unraveled.”

Another problem is the effect local regulatory controls and impact fees are having on builders.

“The demand for goods and services provided by local governments has increased along with the population,” Gaines said. “The cost of those goods and services has also increased, and governments are faced with the problem of how to pay for them.

So they’re passing some of those costs on to developers in the form of regulatory costs, permitting fees, platting fees, direct impact fees for roads and utilities and that sort of thing. So all of our costs are going up.”

VIA – For more from Gaines on the Texas housing market, listen to the April 8 episode of the Real Estate Red Zone podcast (“All Housing, All the Time”). It’s online at http://www.recenter.tamu.edu/podcast/

Oil prices drop, Corpus Christi’s rent prices don’t

corpus-christi-rentalsCORPUS CHRISTI – Plunging oil prices may be a relief for Coastal Bend residents at the pumps, but they’re having little influence on rents or mortgage payments.

Experts predict the falling price of crude will force housing costs in energy-dependent Corpus Christi to drop at some point.

That day won’t come in 2015, they say.

The housing market in Corpus Christi is perhaps the tightest it has ever been for both potential renters and those looking to buy a home. Things won’t change for the rest of the year, despite a rush on home and apartment construction, said Jim Lee, the chief economist at Texas A&M University-Corpus Christi.

Oil field workers who lived in apartments in Corpus Christi are moving to Alice, Cotulla and other small towns within the energy play to be closer to work, said Melissa Gomez, a broker for AAA Apartment Locating in Corpus Christi. Others have been moving out of higher-end luxury apartments and into older, more-affordable complexes to cut costs.

The exodus has created hundreds of apartment vacancies since November, but rent prices remain unchanged. Instead of lowering rents, property managers have eased move-in criteria to insure occupancy. Applicants with credit and rental-history blemishes and those whose income is less than three times the cost of rent are no longer being disqualified for apartments.

“We’ll see a decline in occupancy rates here and there … but they (complexes) won’t empty out,” Gomez said.

The average price of homes in Corpus Christi hit a record high of $207,700 in December, according to the latest data from the Real Estate Center at Texas A&M University. That same month, the asking rent for a typical apartment in the city was 25 percent higher than it was just four years ago.

Five recently completed apartment complexes have been cleared since March to take in tenants. Another dozen are in various stages of construction and are due to open in coming months.

The Corpus Christi area’s apartment occupancy rate was 92.5 percent in December, according to ALN Apartment Data, a Carrollton-based firm that tracks rental property trends. That’s down from 94.3 percent in November and the record months of December and April, when occupancy hit 95.2 percent.

Average rent in Corpus Christi in December was between $842 and $880, an ALN report said, though it’s not uncommon for newer complexes to ask for more than $1,100 for a one-bedroom home.

Corpus Christi’s low unemployment has been a magnet for thousands of job seekers in the past three years, most of them eyeing work in the Eagle Ford Shale energy play. The trend has slowed recently as energy companies have scaled back shale production, even shaved jobs, trying to remain profitable.

Falling oil prices and cutbacks in shale oil production by energy companies will put “downward pressure” on the local housing market, Lee said. However, the majority of newly constructed apartments are likely to be absorbed by students at Texas A&M University-Corpus Christi and personnel from the nearby Naval air station.

“The overall housing market in Corpus Christi, including single-family rental houses, will likely soften up after reaching its current peak, but the market for apartments might continue to be tight at least the rest of the year,” Lee said.

Apartment occupancy in Corpus Christi in January 2010 was 89 percent, and average rent was about $700.

Warren Andrich, CEO of the Corpus Christi Association of Realtors, was optimistic about the home sales market, while conceding more rental property was needed in the city.

The Real Estate Center reported that 375 homes were sold in Corpus Christi in December, typically a slow sales month.

The Coastal Bend’s economy, though heavily influenced by the energy industry, is diverse enough to support an increase in housing, Andrich said.

Although homes values are increasing and are being sold at or near their asking prices, Corpus Christi’s inventory of affordable homes — those priced between $125,000-$165,000 — is less than 300 units.

“These are all indicators that we were in need of the additional rentals coming on the market,” Andrich said.

Twitter: @Caller_ChrisRam

Corpus Christi Apartment Market (December 2014)

Occupancy Rate: 92.5 percent

Asking Rent: $880

Effective Rent: $873

Average Apt. Size: 850 square feet

Average Market Rent Breakdown By Floor Plan

Efficiency, $671

1 Bedroom, $753

2 Bedroom, $944

3 Bedroom, $1,084

4 Bedrooms +, $2,181

Source: ALN Apartment Data

Housing Activity (Annual figures)

Year No. of sales Average price Median Price Months of inventory

2004 4,745 $132,100 $113,800 4.6

2005 4,894 $147,300 $125,200 5.0

2006 5,192 $153,300 $130,400 6.2

2007 4,510 $162,000 $136,500 7.4

2008 3,773 $162,200 $138,900 9.0

2009 3,444 $155,500 $134,800 10.2

2010 3,445 $152,300 $136,500 10.3

2011 3,396 $157,500 $135,700 9.5

2012 4,058 $169,900 $142,300 7.1

2013 4,589 $180,700 $152,200 5.3

2014 4,721 $197,100 $168,600 4.5

Source: Real Estate Center, Texas A&M University.

via @callertimes

The Art of Negotiating

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Whether you’re trying to get the best price at the flea market, ask for a higher salary, or buy a new car, having good negotiating skills is important. Luckily, during a real estate transaction, you have a hired professional to do the tough stuff for you! Whether you are buying or selling, your agent should be representing your needs and wants through this fine art of negotiating.

Some may believe that negotiations are “all or nothing.” That one party wins over the other. This could not be further from the truth. While the goal of negotiation is most certainly getting what you want, the fact is that the best deals incorporate terms from both sides.

First, think about what you want to achieve from the process. Make a list of what you want from the negotiation and why. This helps determine what would cause you to walk away so you can build your strategy within acceptable terms. Try, also, to understand what your counterpart’s motivations are as this is equally as important. By studying the other side’s goals, it may help you frame your own by realizing that there’s a solution for you both. The single most important tool you and your agent have is preparedness. Communicating with each other the main goals and why they’re the goals gives your agent the best negotiating power there is. Follow these steps:

1.      Establish a fair sales price. Your agent should run a comparative market analysis (CMA) for you to assess what a fair asking price is based on other sales in the area.

2.      Establish what you can afford. If you’re buying, your agent should be able to help you with this a bit, and if you’re working with a lender they will be invaluable here. If you’re selling, what is your bottom line?

3.      Decide what other things would be a deal breaker. Price is typically the most important factor. However, it may also be a deal breaker if you’re selling and you cannot afford to pay the buyer’s closing costs at their request, or you’re the buyer and your insurance requires a windstorm certificate that the home doesn’t have.

4.      As a buyer, when it comes to inspections, negotiating repairs can become just as important as presenting the offer itself. If the home you’re seeking isn’t advertised as being sold “As Is” then you likely have some negotiating powers when it comes to repairs.

5.      Try not to get emotional. This is a tough one as a home is personal. And if you get too emotional, you may make an exception to your goals. But your agent is there to represent you, your goals and to make it about business so this doesn’t happen.

From there, your licensed Real Estate Agent should be able to clearly communicate your desires.  It’s your agent’s job to ensure you are represented correctly, fairly, and your voice is heard! It’s all about collaborating to meet both ends, making it a “win/win” situation.

What should you look for in an agent? These characteristics may be beneficial: An active listener, someone with a reputation of getting along with others, someone with a mild-mannered and optimistic personality, and a clear but firm communicator.

So sit back, and let US work for YOU. If you’re feeling like your agent is trying too hard to convince you to forgo your main goals, then perhaps it’s not the right fit. There’s a solution to every problem. Think outside the box, discuss rather than argue, and don’t forget, it never hurts to ASK!