September 18th, 2007 by Skip
BUYERS BUYERS – WE NEED BUYERS
WHERE ARE THE BUYERS ?
It’s that time again - the main tourist season is over for the year on South Padre Island – we locals rest from now until January when the “Winter Texans” arrive in force and the cycle starts all over again – weekends will be busy with Valley visitors if the weather is good and a trip to the Island doesn’t interfere with local football – this is our time of the year to enjoy the Island – what the tourists don’t know is that this is the best time of the year to be here – generally by the 2nd week in October the first push of cooler air reaches us – the temperature drops a couple of degrees but more importantly the humidity drops out of the air – a very direct and distinct change in feel – time to open the windows and let the fresh air blow through – this is the most wonderful time of the year on the Island -
Historically, my best buyers for real estate on the Island have been in the fall – always fewer buyers but more serious ones – this year seems different – no calls saying they will be down and want to look at certain projects – no calls at all in fact – even my e-mails are being ignored after multiple points of communication over the year – I am hearing the same thing from many of my compadres who have been on the Island as long as I have – We were here in the 80’s – we understand the cycles – we walked the beach a lot – South Padre Island was a fantastic place to live – You couldn’t make a living here in the 80’s in real estate but what a great place to be while you weren’t making a living – that cycle is back but the elements are different - it won’t be as long this time but we will feel it none the less – for a very short period there will be some great values available
Most of our buyers North of the Rio Grande River are from areas that have had a slowdown in their own real estate markets and worry about ours - Our Valley markets are very strong with some of the lowest mortgage problems in the country - Brownsville and McAllen both are strong and stable - The Mexican economy appears strong and stable (one of the reasons that we have 3,500 permanent population with 5 banks) and those buyers are still there -
Now is the time to be looking to buy if you have any interest in having a vacation home on South Padre Island – lots of property is available and very few buyers in competition with you – you might start looking at how to take advantage of this “glitch” in the growth and development of one of the best kept secrets along the Gulf Coast – Cycles come and cycles go but the Sun and the Sand and the Surf are still here - its a great place to be
www.spirealestate.com
July 12th, 2007 by Skip
BUYERS MARKET PLACE ON SOUTH PADRE ISLAND
It's reality time in paradise. Our real estate market place is starting to show a slowdown in sales. Data collected from our Property Listing Service (our local MLS) shows an average monthly decline of 21.5% in the number of sales in the Laguna Madre Area over the past 6 months in 2007 compared to the same period in 2006. South Padre Island, as part of that marketplace, shows an average monthly decline of 36% in the number of sales in 2007 compared to the same period in 2006. Our foreign market is still strong but our local markets have held back.
National news is forecasting an upturn nationwide by the first of the year and an increase in new home sales next year. We always lag the rest of the country by 6 months or more so if you have been considering purchasing resort property on South Padre Island, now is the time. It is definitely a buyer's market right now in paradise. Hot sheets with price reductions are being sent to the office several times a day now. We now have a flood of properties on the market looking for buyers.
Buyers, do not hesitate to make offers. Now is a good time to be in the market on South Padre Island. This is still prime resort property in a strong growth area with limited land resources and a strong foreign market from Mexico.
This is just a hiccup in the scheme of things on
South Padre Island.
Sellers need to price their property correctly to meet the current market and make sure they are competitive if they want to sell. Sellers also need to make sure their property is the best on on the market condition wise to get the best offers. Sellers, do not be offended with any offer presented. This means that there is an interest in your property and as long as the ball is in play there is a possibility that a meeting of the minds can still take place.
THERE ARE OPPORTUNITIES FOR BOTH BUYERS AND SELLERS
IN THIS MARKET
LET'S TALK
June 27th, 2007 by Skip
Unique Investment For The Future on
South Padre Island
For the individual who sees South Padre Island as a future investment look at Continental Condominiums. A unique and interesting condo on the beach. This is a very nice 2 bedroom top floor North corner unit in a small 15 unit project with pool and fantastic beach views with an asking price of $325,000. What makes this condo different from the others is that it is in a 15 unit project situated on 3 beach front lots with 2 extra lots across the street for parking. Consider that beach front lots in town are listing at 1.2 to 1.5 million each the land value of each unit is in the $280,000 to $300,000 range. In todays market this project is land rich. Some developer is going to come in one day and make an offer on all 15 units that the owners can't refuse. That developer will then build a premium hi-rise condo project on this site.
CAN YOU WAIT ? -
Enjoy it while you wait
See Condo Details at www.spirealestate.com
June 19th, 2007 by Skip
THEY CAME-THEY SAW-THEY CONQUERED
AND LIKE CAESAR THEY BUILT A MONUMENT
WE CALL IT
“THE MEDIAN”
At least on good days we call it “THE MEDIAN”. Other days we call it unprintable things depending on our mood, the amount of traffic and what we need to accomplish. But, by any name you want to call it, it represents a major change on South Padre Island. THE MEDIAN is the SYMBOL of THE NEW SOUTH PADRE ISLAND. (I planned on saying “new and improved South Padre Island” - but improved? – I’m not too sure of that - particularly after the last elections.)
The baby boomers have arrived and are changing the face of our sand spit. The Median, the New City Hall, improvements to the sidewalks, landscaping and city codes controlling signage and colors are creating a whole new and improved look for the Island. The baby boomers and retirees are demanding a more upscale environment to live in and they are getting it. I lament the losss of the old South Padre Island that I loved but progress and change are inevitable - so on with the NEW.
NOW IF WE COULD JUST BURY THOSE DAMMED UGLY POWER LINES.
Check Our Listings at www.spirealestate.com