Corpus Christi Association of REALTORS Blog

Coastal Bend MLS 2011 3rd Quarter Residential Housing Stats

2011-10-21T10:20:00.000-05:00

Coastal Bend MLS 2011 3rd Quarter Residential Housing Stats

Coastal Bend MLS 2010 3rd Qtr Stats

2011-10-15T16:58:00.005-05:00

Real Estate Alert! - Required 20% Down Payment

2011-07-20T15:28:00.003-05:00

Qualified Residential Mortgage

On July 13, NAR launched a consumer CFA to six million current or future home owners asking them to support the REALTOR® opposition to a proposed federal regulation that would require a 20% down payment on a purchase of a home. Consumers can visit www.homeowneractioncenter.com to get important background on the regulation, use a calculator to determine how much money they would need for a 20% down payment on a loan, learn about our coalition efforts with the Coalition for Sensible Housing Policy, and allow them to send a letter of their own in opposition to the proposed regulation. Also included is an e-card that can facilitate REALTORS® sharing the consumer CFA with clients, friends, neighbors and other interested parties.

Please have a look, feel free to take action, and ask everyone you know to participate too. NAR believes that engaging voters in critical home ownership issues at the federal level is giving consumers the knowledge and capacity to make a difference for their future, because HOME OWNERSHIP MATTERS.

The CFA will remain live until August 1. If you need more information on the QRM issue, please visit REALTOR.org: http://www.realtor.org/topics/qrm

Coastal Bend MLS 2011 2nd Quarter Stats

2011-07-20T15:22:00.002-05:00

Coastal Bend MLS 2011 1st Quarter Stats

2011-04-21T12:06:00.002-05:00

Coastal Bend MLS 2010 Year End Stats

2011-01-31T11:25:00.005-06:00

With the state of the economy nationwide, it is certainly not a surprise that the housing market in Corpus Christi has followed the national trend as it took a dip in 2010. Not great news, of course. But there definitely some positives in our market statistics.

First, and most importantly, if you compare Corpus Christi to the rest of the nation we are certainly down less in our housing market on the whole, which also means our recovery time will in turn be much less as well.

In 2010, there were 3,521 homes sold through the Coastal Bend Multiple Listing Service. That compares to 3,658 homes sold in 2009; a total of 137 fewer homes were sold in 2010 as compared to 2009.

The median sales price in 2010 was $135,000 compared to $134,850 in 2009. Total Dollar Volume was $550.085 million compared to $563.794 million in 2009, a decrease of $13.709 million in total sales. Average days on the Market for 2010 was 149, and 148 for 2009 and our current inventory sits at 10.3 months as compared to 10.35 months for 2009.

That is a snapshot of our market for 2009 as compared to 2010.

Coastal Bend MLS 2010 4th Qtr Stats

2011-01-15T08:12:00.000-06:00

Coastal Bend MLS 2010 3rd Qtr Stats

2010-10-15T08:09:00.000-05:00

Fannie Mae Announces New HomePath Incentives Including $1,500 Bonus For Selling Agents

2010-10-05T10:33:00.000-05:00

Incentives Available For Qualified Buyers!

On September 23, 2010, Fannie Mae announced incentives in connection with the sale of Fannie Mae-owned properties listed on the company's REO website, http://www.homepath.com/ for qualified homebuyers who submit eligible offers on or after September 23, 2010 and close by December 31, 2010.

Incentives For Selling Agents!

In addition, Fannie Mae announced a new $1,500 bonus incentive for selling agents representing qualified owner-occupants homebuyers who close by the deadline. Qualified homebuyers may receive up to 3.5 percent of the final sales price that can cover closing cost assistance, including a home warranty, if desired and available.

Sale Must Close in 60 Days of Accepted Offer

The sale must close within 60 days of the offer being accepted and no incentives will be given for investor purchase. Fannie Mae Homepath properties are owned by Fannie Mae and include a wide selection of homes, including single-family homes, condominiums and town houses.

HouseLogic - NAR Member Benefit

2010-08-13T09:41:00.004-05:00

Import HouseLogic articles into your consumer website, blog, and e-newletter.

Download articles as handouts

Build your reputations as a housing expert

Keep in touch with clients and customers

For more information on this FREE NAR member resource go to:

http://www.houselogic.com/members/

Coastal Bend MLS 2010 2nd Qtr Stats

2010-07-19T15:14:00.006-05:00

The Second Quarter Coastal Bend Housing Sales Statistics are in and it is obvious from the numbers that the tax credit had an effect on the market. Statistics in April were up significantly from 2009 and they were down again in June. So what that means is that consumers did take advantage of the tax credit and either entered the housing market for the first time, or purchased a move-up home. That is certainly good news.

When you take a look at the figures it's easy to see that April 2010 closed sales were up significantly from April 2009 with 371 sales compare to 288, up 28 percent May figures also reflect an increase in sales of 12.74 percent with 354 Sales in May 2010. As for June, statistics reflect sales dropped in 2010 to 360 as compared to 396 in June of 2009.

The data also reflects that April was up in every category including average sales price, median sales price and total dollar volume.

With the apparent ups and downs, the overall good news is that the average numbers in each category were up. So on balance in Corpus Christi and the surrounding areas via our Coastal Bend MLS statistics the second quarter looked positive over all in the housing market.

Coastal Bend MLS 2010 1st Qtr Stats

2010-04-19T08:29:00.003-05:00

The Coastal Bend Multiple Listing Service Statistics for the first quarter of 2010 are no surprise. For all practical purposes the first quarter shows the Corpus Christi housing market is status quo. There is, however, one bright spot: March is up just a bit and the hope is that trend will continue.

The statistics show, as predicted by NAR Chief Economist Lawrence Yun last month when he spoke here, that the real estate market will start moving in the coming months, but it will not be at a fast clip, but rather at a slower more methodical pace.

The number of closed sales for the first three months of 2009 stand at 730. That compares to 717 for the first quarter of 2010, down 1.78 percent.

The median average sales price for the first quarter of 2009 was $127,331. That compares to $129,416 for the first quarter of this year, up 1.64 percent.

Craig's List Scam Comes to Local Real Estate Market

2010-02-10T08:51:00.000-06:00

News from CCAR - Monday Memo: "Have you been searching Craig's List and found one of your listings - rentals in particular- offered for some ridiculously low price with your name attached to it, but with a different number and e-mail?

Well several Realtors in our market have had that specific experience. How it works is scam artists pull your listings, place them on Craig's list with the fake numbers and then talk to the potential renter and get them to send them money for a rental which will never happen.

So you might want to scan Craig's list and make sure none of your rentals are there. We have also reported this to the Caller Times and the local television stations as well as Craig's List. So keep an eye out and beware!"

Fourth Quarter Housing Stats - Up From Last Year

2010-02-02T09:08:00.006-06:00

December Closed Sales Bring Numbers Up For the Last Quarter of 2009

For the year, our sales figues are definitely down, but it is certainly positive that we ended 2009 with an improvement in the 4th quarter over the 4th quarter of 2008. Below are the year end Housing stats compareds.

Where to Go For Tax Info...Square Footage and Assessed Value

2009-12-21T10:31:00.000-06:00

News from CCAR - Monday Memo: "Tax information, Square Footage and Assessed Values - Where and How to Find It

Did you know that there are several ways to find Tax Information from the five most used County Appraisal Districts?
Here is how to look for Square Footage Source and correct Tax ID to use when listing is entered in MLS:

Nueces County
Call: 36...
On location they have computers you can access: 201 N. Chaparral, Corpus Christi, Texas 78401
Website: http://www.ncadistrict.com/

San Patricio County
Call: 361-364- 5402
On location: 1146 E. Market St - PO Box 938, Sinton, TX 78387-0938
Website: http://www.sanpatriciocad.org/

Jim Wells County
Call: (361... ext.12
On location: 1600 East Main Street, Suite #100, Alice, Texas 78332
For a Copy of an Appraisal Card they charge 10¢ per page. The card needs to be picked up in person by the agent because their office does not take credit card payments.

Live Oak County
Call: 36...On location: 205 Bowie, Texas 78022-9998
For a copy of an Appraisal Card they charge $1 per page. They can fax it or email it to agent per request.

Kleberg County
Call: (3...On location: 502 E. Kleberg St., P. O. Box 1027, Kingsville, TX 78364-1027
Website: http://www.klebergcad.org/search_appr.php"

U.S. Treasury Dept. Revises Short Sale Guidelines to Assist Homeowners

2009-12-09T09:47:00.000-06:00

SHORT SALE GUIDELINES REVISED

WASHINGTON (Associated Press) - Guidelines for short sales to help homeowners who need to sell their houses but cannot secure contracts at a high enough price to pay off their mortgages have been revised by the Treasury Department.

The plan was created to aid homeowners whose income or debt is too low to qualify them for a loan modification under the Making Home Affordable program. The plan establishes timetables, a standard process and documents, and cash incentives for participation.

The new guidelines require the following:

Property be the homeowner's primary residence;

homeowner be delinquent on the mortgage or likely to default; loan was made before Jan.1 this year and is less than $729,750 and borrowers' total monthly mortgage payment exceeds 31 percent of their before-tax income.

The guidelines are expected to reduce paperwork by requiring mortgage companies to use the financial and hardship documents submitted by borrowers seeking a loan modification. To speed up the approval process, mortgage companies will have to approve short-sale terms, including the minimum listing price, before the house is put on the market. Mortgage companies will be required to offer the program as of April 5, 2010.

Sharing Fees With Attorneys - Is It Permissible?

2009-12-01T10:45:00.000-06:00

News from CCAR - Monday Memo: "An attorney told me that her client attended an open house for one of my listings and wanted to make an offer on the property. The attorney told me she was preparing an offer for her client and insisted that I pay her the same fees I had offered to cooperating brokers in the MLS. The attorney does not have a broker's license. Can I pay the attorney the coop fee if this offer is accepted by my client?

The answer is NO. The following explains why.

The Texas Real Estate License Act (Texas Occupations Code, Section 1101.652(b)(11)) provides that a broker can lose his license for paying a fee to anyone not licensed as a real estate broker or salesperson in Texas or any other state for compensation for services as a real estate agent. While the attorney is exempt from regulation under the Texas Real Estate License Act, you are not; you would face disciplinary action for violating the act.

Certainly, the attorney is permitted to represent clients in real estate transactions by virtue of her license to practice law. It does not follow that you can pay that attorney the coop fee for her representation of her client. The attorney can and should seek compensation for her services from her client."

Third Quarter Statistics Reflect Market Status Quo

2009-11-24T11:28:00.006-06:00

In Corpus Christi, we have recently seen our market reflect some of what has been seen across the country. But keep in mind, we in Corpus Christi are in a much better position than most other cities nationwide, and Texas as a whole is faring much better that almost every other state in the nation.

That means although our housing sales have not rebounded as of yet, we expect to see that taking place in the near future. And with the recent expansion and extension of the tax credit, we should continue to be adding new buyers and sellers to the market.

The following are our third quarter MLS Statistics. You can also find them on our web site www.ccaronline.com. When you get there, click on blogger and put the word Stats in the search box.

2009-11-19T13:14:00.001-06:00

Due to family issues, Michael Reyna who had been hired as the new CCAR AE will not be taking the job. A new search will begin immediately!

2009-11-18T11:08:00.001-06:00

CCAR hires Michael Reyna as New Association Executive, Membership Invited to Reception Friday, Nov. 20 @ 4:00 pm at the association office.

2009 Realtor, Affiliate, and Rookie of the Year Nomination

2009-10-28T10:57:00.004-05:00

It is time to nominate a Realtor, Affiliate, and Rookie of the Year, the DEADLINE is October 29,2009.
Click here for the Realtor/Affiliate form http://bit.ly/2IaQBk
Click here for the Rookie of the year form http://bit.ly/3iOjWX

Take Action! Make Calls For Tax Credit Extension Today!

2009-10-27T16:20:00.002-05:00

Take Action! Make Calls For Tax Credit Extension Today! Please read more: http://bit.ly/3PL3L7

South Texas REALTOR Convention photos and videos are up

2009-10-26T12:52:00.003-05:00

South Texas REALTOR Convention photos and videos are up, photos http://bit.ly/1GJF3b and video http://bit.ly/4aKj2i

iPhone app - Zensify

2009-10-15T16:19:00.002-05:00

If u have an iPhone and any social networking account try Zensify. You can send post to all accounts at once and read post from all account.

2009-10-14T16:26:00.001-05:00

Thank you to everyone who attended today's social media/ networking class. If you were not able to I will be having another on October 28.