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

Flood Preparedness & Safety Tips

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

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

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

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

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

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

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

– State Representative Todd Hunter, District 32

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

PADRE ISLAND HOUSING REPORT – JULY 2024

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

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

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

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

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

 

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

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

Reduced Mortgage Rates Aren’t Enticing Buyers

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

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

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

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

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

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

Article created from NAR

PADRE ISLAND HOUSING REPORT – JUNE 2024

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

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

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

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

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

 

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

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

BBB Scam Alert

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

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

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

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

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

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

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

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

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

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

PADRE ISLAND CORPUS CHRISTI HOUSING REPORT MAY 2024

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

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

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

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

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

 

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

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

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)

north-padre-island-housing-report-april-2024

Corpus Christi’s Long-Term Water Needs

Addressing Corpus Christi’s Long-Term Water Needs

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

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

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

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

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

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

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

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)

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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)

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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)

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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)

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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)

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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 – 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)

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Ovarian Cancer Awareness Month

The month of September is recognized as Ovarian Cancer Awareness Month. According
to the National Ovarian Cancer Coalition, ovarian cancer is rare since only 1.1% of women will
be diagnosed with ovarian cancer. Yet, it is the number one cause of cancer-related death among
women. Additionally, in 2023 it is estimated that 19,710 women will be diagnosed with ovarian
cancer and of those diagnosed 13,270 women will die. Due to the mortality rate, it is important to
know about ovarian cancer so people can be educated about the risk factors along with the signs.
National Ovarian Cancer Awareness Month is important because it is a time dedicated for
women and the public to gain knowledge about ovarian cancer. This is important because an
increase of public knowledge can lead to earlier diagnoses and hopefully lower the death rate.
Therefore, the purpose of this month is to raise awareness surrounding ovarian cancer which is
sometimes referred to as the “silent killer.” This is due to the fact that the symptoms of ovarian
cancer are very similar to other diseases which means women will overlook the signs and they
will not realize they should see a doctor and get tested. As a result of this, the diagnosis for
ovarian cancer is typically confirmed at a later stage. According to the National Ovarian Cancer
Coalition, only 20 percent of ovarian cancer is diagnosed in the early stages.
Since the symptoms of ovarian cancer are similar to other diseases, it is critical to know
what they are in order to get an early diagnosis. A few of the common symptoms for ovarian
cancer are persistent bloating, difficulty eating or feeling full quickly, and pelvic or abdominal
pain. Along with these symptoms, the strongest risk factors include increasing age and family

history. Knowing the signs and risk factors of ovarian cancer is important because an early
diagnosis can be lifesaving.
For more information about ovarian cancer, please visit the National Ovarian Cancer
Coalition’s website. https://ovarian.org/about-ovarian-cancer/what-is-ovarian-cancer/
Along with this, radiologyinfo.org is a wonderful resource to learn more about ovarian
cancer, how to prevent it, and how it is diagnosed. https://www.radiologyinfo.org/en/info/psa_oc
Additionally, you can visit the American Association for Cancer Research to learn about
the risk factors and symptoms of ovarian cancer. https://www.aacr.org/patients-
caregivers/awareness-months/ovarian-cancer-awareness-month/

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 – 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)

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BBB Scam Alert: Fake Events & Phony Tickets

How the scam works

You see a fantastic deal on tickets to a summer festival in your area, usually through a link on social media. The event promises live music, all-you-can-eat meals, craft beer or wine, or other fun activities.

When you click the social media link, it takes you to a professional website with fantastic pictures. You enter your credit card information to buy tickets and think you are all set. But before you buy, do a little research. Whether the event is non-existent, merely disappointing, or you just bought phony tickets, the result is the same: someone pockets your hard-earned money!

BBB Scam Tracker has received numerous reports from people who purchased fake tickets to actual events or events that have yet to materialize.

A customer in Memphis reported buying tickets for $82.50 to a “Bubble Run” in June 2022 that never happened: “Facebook event page advertised the Bubble run as a free event. I purchased 4 ‘entries’ with glasses and tutus and they charged my debit card. They then cancelled the event refuse to respond to emails. They are still advertising on Facebook like the event is happening.”

One consumer who purchased tickets to a fake beer crawl reported: “Reviews across multiple platforms make it clear that these events are at best extremely misleading or at worst canceled. No refunds are given, even when their inconsistent and mostly-unreachable customer service email address responds to confirm a refund will be provided.”

How to spot a fake festival

  • Research before you buy. Search online for the festival’s name and ensure the name advertised matches the website. Scammers often use names that sound similar to those of real festivals.
  • Check for (working) contact information. Be sure the festival website has a real phone number and email address.
  • Watch out for prices that sound too good to be true. There is no way a festival can offer tickets at extremely low prices without losing money. If the prices are much lower than elsewhere, it’s likely a scam.

What can you do?

  • Pay with a credit card. You can dispute the charges if the business doesn’t come through. Be wary of online sellers that don’t accept credit cards.

  • Look for secure sites. The website should begin with HTTPS (the extra “s” is for security) and have a lock symbol on the address bar.
  • Avoid tickets sold on Craigslist, Facebook Marketplace, and other free online listings.  Scammers are skilled at providing realistic tickets and fake receipts. Check out third-party ticket sites at BBB.org before making purchases.

For more information

Read BBB’s tips for buying tickets to an event. For general information on how to avoid scams, visit BBB.org/AvoidScams.

For more advice, read BBB’s tips on online shopping. If you’ve spotted an event scam, report it to BBB ScamTrackerSubscribe to BBB Scam Alerts for weekly updates about new scams.

Home Sales Declining While Prices Soar to Record Highs

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

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

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

Despite Obstacles, Buyers Are Confident

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

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

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

Regional Breakdown

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

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

Data sourced from NAR

NORTH PADRE ISLAND HOUSING REPORT – JUNE 2023

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

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

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

 

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

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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)

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