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Galveston private beach could be up for grabs soon

Galveston private beach could be up for grabs soon | Texas Coast Real Estate | Scoop.it

Beach for sale. That sign will soon be up for the only privately owned beach in Galveston.


A federal bankruptcy judge last month changed Porretto's bankruptcy from Chapter 11 to Chapter 7, allowing Porretto Beach to be sold to pay her creditors.


Porretto lists the value of Porretto Beach at $10 million, but Randy Williams, the Chapter 7 trustee appointed to oversee the sale, says he is unsure of the true value.

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Real Estate Foreclosures Down 34 percent - lowest since 2007

Real Estate Foreclosures Down 34 percent - lowest since 2007 | Texas Coast Real Estate | Scoop.it

Foreclosure filings in the United States showed a year-over-year strengthening trend for the national real estate market. Foreclosure filings have been dropping significantly since 2007.


The number of new defaults continues to shrink year after year, creating the likelihood of a national stabilization.

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Pricing your home to sell on the Texas coast

Pricing your home to sell on the Texas coast | Texas Coast Real Estate | Scoop.it

Pricing your property correctly is crucial if you want to sell your property in a timely manner at the highest price possible.


Current market and property conditions determine value. Realistic pricing will achieve a maximum sale price in a reasonable amount of time.


A key indicator is the price of neighborhood homes currently for sale and recent sales.


On the Texas coast, new homes priced below $150/Sqft and re-sales at 30 to 50 percent below peak are what is selling the most.

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A tale of two pipelines: the Northern Gateway and the Keystone XL

A tale of two pipelines: the Northern Gateway and the Keystone XL | Texas Coast Real Estate | Scoop.it

The country has been split on two controversial plans to construct oil pipelines through several provinces and into the United States to Texas coast refineries.


While supporters say the pipelines will create thousands of jobs as unemployment rates plummet, critics say the proposed plans could lead to mass oil spills and destruction of natural ecosystems.


The Texas coast welcomes the business, real estate and job opportunities.

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Fracking: Is there a 100yrs of natural gas beneath the United Statess

Fracking: Is there a 100yrs of natural gas beneath the United Statess | Texas Coast Real Estate | Scoop.it

The potential of shale gas might have America sitting on a 100-year supply of natural gas.


The Barnett Shale in Texas is the only formation with a significant history. Horizontally drilling and then fracking the rock with a pressurized slurry, operators kicked off the shale-gas revolution. Drilling exploded in the Barnett from 3000 wells in 2003 to more than 9000 today.



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Expansion of Mid-America Pipeline system benefits Texas Coast

Expansion of Mid-America Pipeline system benefits Texas Coast | Texas Coast Real Estate | Scoop.it

Enterprise Products Partners of Houston Rocky Mountain Expansion of the Mid-America Pipeline system.


The expansion enables producers to maximize the value of Natural Gas production providing them access to the largest domestic market located on the Texas Gulf Coast.


The project received Federal Energy Regulatory Commission approval in August 2011 and involves looping the existing system with 263 miles of 16-inch diameter pipeline. The additional capacity is designed to accommodate growing natural gas demand.

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Winter Texans lobby for nonstop air service to Canada

Winter Texans lobby for nonstop air service to Canada | Texas Coast Real Estate | Scoop.it

Winter Texans think it would be a good idea for WestJet, a low-cost air carrier based in Calgary, Alberta, to begin offering nonstop flights between Winnipeg and South Padre Island.


Director of aviation for the Brownsville South Padre Island International Airport, said he would gladly welcome more Winter Texan business and that the airport would do a great job servicing WestJet, which he described as “sort of the Southwest Airlines of Canada.”

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Is desalination the Answer for Texas water?

Is desalination the Answer for Texas water? | Texas Coast Real Estate | Scoop.it

As concerns about water supply continue, more and more stories seem to point to desalination as the answer.


Until now, most Texas desal plants are small and regionally located, but a seawater desalination plant will open on South Padre Island in 2014 again opening conversations about importing water from the coast to Central Texas.

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Solution To The Housing Crisis is Renting Foreclosed Homes

Solution To The Housing Crisis is Renting Foreclosed Homes | Texas Coast Real Estate | Scoop.it

Federal Reserve Chairman Ben Bernanke thinks it is a good time to rent foreclosed properties because:

1. demand for owner-occupied homes remains low,

2. demand for rental properties is rising, and

3. banks are reluctant to offer mortgages.

And the situation won't change anytime soon.


Another opportunity is short sales where a borrower sells the home to an investor for less than the amount outstanding on the mortgage.


http://www.federalreserve.gov/publications/other-reports/files/housing-white-paper-20120104.pdf 

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12 Ways To Sell Your House In This Crappy Market

12 Ways To Sell Your House In This Crappy Market | Texas Coast Real Estate | Scoop.it

1. Price it right from the get-go

2. Put your best footage forward

3. Be flexible

4. Leverage the Internet

5. Don't fall prey to fraudsters

6. Owner finance or take less cash

7. Be your own spokesperson

8. Focus on quality

9. Check other homes for sale

10. Get a professional appraisal

11. Expand your buyer's due diligence

12.  Make a quality-of-life checklist

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What Comes Next for the Keystone XL Pipeline

What Comes Next for the Keystone XL Pipeline | Texas Coast Real Estate | Scoop.it

The Keystone XL Pipeline is one of the last great infrastructure projects of the petroleum era in the US, and it will face a pivotal moment some time before the end of February.


President Obama is under a two-month deadline to approve or disapprove the massive pipeline, which would bring oil from Canada’s notorious Alberta Tar Sandsdown to the midwest and on through to refineries on the Gulf Coast.

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1,000-foot pier proposed at Rollover Pass

1,000-foot pier proposed at Rollover Pass | Texas Coast Real Estate | Scoop.it

The Texas Land Commission wants to replace the Bolivar Peninsula Rollover Pass near Gilchrist Texas with a 1000 foot fishing pier on; however, many locals don't want to close the pass.


The $6 million T-headed pier would be lighted above and below to attract fish at night and would be equipped with fish cleaning stations and bathrooms.


The State authorized closure of the pass in 2009.

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Rental Market Emerges as Housing Bright Spot

Rental Market Emerges as Housing Bright Spot | Texas Coast Real Estate | Scoop.it

While home sales remain sluggish despite the most affordable purchase market in decades, households have turned to rental to meet their shelter needs. Prices reflect the shift in demand. Rental costs are up 2.4 percent over the last year.


On the Texas coast, rental demand remains strong, even while home sales have plummeted.


Also see Rental Housing on an Upswing: http://www.freddiemac.com/news/finance/docs/Oct_2011_public_outlook.pdf

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Fed Reports more Fannie Freddie Losses may Aid Housing Recovery

Fed Reports more Fannie Freddie Losses may Aid Housing Recovery | Texas Coast Real Estate | Scoop.it

A report from Federal Reserve Chairman Ben S. Bernanke called the weakness in the housing market a significant barrier to economic health and Fannie Mae and Freddie Mac might have to bear greater losses to stoke a broader recovery.


Home prices on average have fallen by a third from their 2006 peak, wiping out $7 trillion in household wealth. About one in four homeowners have homes valued at less than the size of their mortgage and are unable to refinance into lower interest rates.


The Fed has tried to jump-start lending by lowering its benchmark rate to almost zero and promising to keep it there until mid-2013.

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Space saving ideas from a home afloat on the harbor

Space saving ideas from a home afloat on the harbor | Texas Coast Real Estate | Scoop.it

Stunning views of the marina are only a taste of the upsides of living in this floating home. The marine engineering was the most difficult part of this home's construction. Underneath the house is an 8-foot deep flotation barge made out of concrete and filled with styrofoam.


Could something like this work on the Texas coast baysides?

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Mortgage Rates Reach New Record Lows

Mortgage Rates Reach New Record Lows | Texas Coast Real Estate | Scoop.it

Freddie Mac reports in its mortgage market survey the 30-year fixed-rate mortgages averaged 3.89 percent, reaching a new all-time low.

  • 15-year fixed-rate mortgages: averaged 3.16 percent.
  • 5-year adjustable-rate mortgages: averaged 2.82 percent.
  • 1-year ARMs: averaged 2.76 percent.


With interest rates below 4% and prices down 30 percent, home buyer mortgage payments are lower than rent payments. Add in the tax benefits of the mortgage interest deduction, and purchasing homes is a stronger long-term investment than renting.

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North Padre residents hear plans for new Schlitterbahn water park

North Padre residents hear plans for new Schlitterbahn water park | Texas Coast Real Estate | Scoop.it

Early designs for the approximately $35 million North Padre Island resort include a 12-hole golf course, lodging, restaurants and a 12-acre water Schlitterbahn park with a meandering river and a retractable roof so it could be used throughout the year. It could open as early as summer 2013.


Schlitterbahn has three water parks in Texas, New Braunfels, South Padre Island and Galveston. The one proposed for North Padre in Corpus Christi would be similar to South Padre Island's in size and layout, but the economic impact for Corpus Christi could be similar to the one in Galveston open year round.



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A Market Builds for Single-Family Rentals

A Market Builds for Single-Family Rentals | Texas Coast Real Estate | Scoop.it

The idea of converting foreclosed homes to rentals has appeal because many foreclosed owners may still prefer living in single-family homes.


[We see this happening on the Texas coast as the backlog of foreclosures tricke into the market]


White House officials and other U.S. policy makers are looking at rental conversions to help clear a glut of foreclosed homes. A 26-page paper from the Federal Reserve last week offered detailed outlines of how such programs might work, and federal agencies and mortgage titans Fannie and Freddie could announce pilot programs within weeks.


Such rental conversions are appealing because the supply of potential foreclosures is enormous. Banks took back about 600,000 homes in 2010 and 1.1 million last year, but those figures could rise to 1.8 million in each of the next two years, according to estimates by the Federal Reserve Bank of New York.

At the same time, distressed property prices are faring much worse than those for traditional properties.


Home prices were down 4.3% for the year ended in November, but excluding distressed sales, prices were down 0.6%, according to CoreLogic Inc

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Spill Study Explains How Bacteria Cleansed Gulf

Spill Study Explains How Bacteria Cleansed Gulf | Texas Coast Real Estate | Scoop.it

A fortuitous combination of ravenous bacteria, ocean currents and local topography helped to rapidly purge the Gulf of Mexico of much of the oil and gas released in the Deepwater Horizon disaster.


The research was funded by the National Science Foundation, the Department of Energy and the Office of Naval Research.

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Washington Wades Deeper into Housing

Washington Wades Deeper into Housing | Texas Coast Real Estate | Scoop.it

Congress taps Fannie and Freddie for cash and expands the Federal Housing Administration's reach.


Recent policy reversals that have increased, not decreased, the United States government's accommodative role in housing finance.


The bottom line: The FHA has paid out $37 billion in claims over the past three years. It may need a $50 billion to $100 billion bailout.

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Top 10 Predictions for Residential Real Estate

Top 10 Predictions for Residential Real Estate | Texas Coast Real Estate | Scoop.it

As the country shakes off the effects of the worst economic recession in recent history, the residential real estate market is beginning to rebound.


The Dave Liniger Top 10 Real Estate Predictions for 2012 are:

1. Continued low interest rates

2. Home prices stabilizing and starting to rise

3. Increasing numbers of home sales

4. Rising inventories, mostly due to increased foreclosures

5. Distressed properties will make up about half of all sales

6. An improved Short Sale process to help avoid foreclosure

7. Homeownership rates continue to fall

8. Foreign and domestic investors will buy 25% of homes

9. Increasing reliance on real estate agents

10. Increased use of Mobile and Social technologies


Informed and savvy consumers and investors recognize there's great opportunity in this market and they are leading the way to recovery.

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Texas Leads Inbound Migration Patterns

Texas Leads Inbound Migration Patterns | Texas Coast Real Estate | Scoop.it

Where is America moving?
Atlas Van Lines reviews data on the origins and destinations of interstate moves during the last 12 months and Texas continues to lead population growth.


Southwestern and Mid-Atlantic coastal states were the most popular destinations.

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Enterprise to build shale pipeline to Gulf Coast

Enterprise to build shale pipeline to Gulf Coast | Texas Coast Real Estate | Scoop.it

Enterprise Products Partners will build a 1,230-mile ethane pipeline from areas of the Marcellus and Utica shale plays to the Gulf Coast.


The pipeline project is expected to create about 4,000 jobs during and after its construction,. and is expected to begin operations by the first quarter of 2014.

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Fracking: Is there really 100 yrs worth of natural gas

Fracking: Is there really 100 yrs worth of natural gas | Texas Coast Real Estate | Scoop.it

The recent press about the potential of shale gas would have you believe that America is now sitting on a 100-year supply of natural gas. It's a "game-changer." A "golden age of gas" awaits, one in which the United States will be energy independent, even exporting gas to the rest of the world, upending our current energy-importing situation.

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New Home Inventory Lowest on Record

New Home Inventory Lowest on Record | Texas Coast Real Estate | Scoop.it

The US Census Department New Residential Home Sales Report shows a 1.6% increase 9.8% over last year.


It's important to recognize that the inventory of new homes has now fallen to a record low of 158K units, the lowest level seen in in at least 47 years.


The Texas coast market for new homes is worse than the national trend, with a few notable exceptions in Port Aransas, where new urbanism innovation and value is driving sales at Cinnamon Shore and an unheard-of low cost per sqft is driving sales at The Cottages Of Pirates Bay.

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