Texas International Fishing Tournament (TIFT)

Scheduled to be held July 29 -Aug. 2, 2015 the 76th TIFT is expected to attract as many as 1500 anglers and more than 500 boats during its two days of fishing activities. TIFT is open to anglers of all ages and levels of experience. And remember, when it comes to big catches, luck often wins over skill! We hope to see you at the 76th! Surrounded by the sparkling waters of the Laguna Madre Bay and Gulf of Mexico, Port Isabel and South Padre Island play host to Texas’ largest saltwater fishing tournament—the Texas International Fishing Tournament. The tournament starts with late registration on Wednesday and Thursday with a special Playday for junior anglers on Thursday. For more information, visit: http://tift.org/

3 homebuying myths busted

Buying a home can be complicated, so it's easy to get misinformation about the process. A Texas REALTOR® can help you avoid problems, but here's some clarification about a few false assumptions. Myth: I can use sites that list home values to figure out a fair offer price. Truth: There are a lot of sites online that offer estimates of how much a home is worth, but they're not always reliable sources. If you use them to come up with an offer, you may end up spending more than you need to. A Texas REALTOR® has access to accurate information about your market, other homes sold in the area, and property features, which can help you arrive at an appropriate offer price. Myth: Sellers have to fix issues noted in an inspection report. Truth: They don't-even if you ask them to. Repairs are a negotiable item like other terms of a contract. If a seller does not agree to make requested repairs and your contract includes a termination option, you have the right to terminate the contract prior to the option period's expiration. Myth: A seller has to accept my full-price (or above full-price) offer. Truth: A seller is not bound to accept any offer, even at full price or above. A seller may choose to accept an offer because of other favorable terms, such as an earlier closing date.

5 lessons for the second-time homebuyer

We've only been homeowners for three years, but even that short time has offered my husband and me lots of lessons that we're using as we buy our next home. These are some of the ways our perspectives have changed from being first-time homebuyers to second-timers. Paint colors really don't matter much. I made the mistake of not looking past cosmetic features that are easily changed, like outdated fixtures or unusual paint colors. This caused us to pass up several homes and potentially lengthened our home search. Ask about repair work. We didn't ask many questions about repairs and maintenance that had been completed on properties when shopping for our first home. Finding out when the roof was replaced or whether the HVAC system was still under warranty could have saved us time and money. Now we ask. Priorities may change. ​The criteria that lead you to your first home may not be what you seek in your next one. I initially wanted a large backyard, until I had to mow one. And we were fine buying a home that required us to join the homeowners association, but now we'd prefer a home in a neighborhood with fewer restrictions. Get your financing in order early. During our first home purchase, we made the mistake of starting to look for homes before getting a prequalification or preapproval letter to share with sellers. This time around, we started talking with a mortgage broker first. Always work with a Texas REALTOR®. Just as your financial situation may have changed in the past few years, it's possible that the housing market may have changed, too. A Texas REALTOR® has the experience and knowledge about the current market to help you find the home that fits your needs ... and you may learn a thing or two in the process.

Laguna Vista, TX – Featured in the Valley Morning Star

Little Town is Tops Laguna Vista one of the best for retirees By KAYLEIGH SOMMER Staff Writer | Posted 22 hours ago LAGUNA VISTA – It’s almost like you can’t afford not to live here. John Karcanes and his wife Linda have lived in Laguna Vista for about 12 years and they love everything about it. “We’ve been wondering when it will get discovered,” Karcanes said. The little town by the bay, home to Winter Tex-ans, retirees and families, has finally made the big time. The online publication MarketWatch.com has named the town one of the top 10 coastal towns where people can afford to retire. The site does not rank the 10 towns. The publication describes the town as a small residential community on the southernmost Texas coast near beautiful South Padre Island, Harlingen and Port Isabel. “This popular resort area has a very warm winter climate and is increasingly home to many retirees as well as vacationers,” the website states. As one of the most affordable retirement spots, the median home sale price is about $150,000. The National Association of Realtors put the national median home price at $196,900 at the end of 2013. The Karcanes said Laguna Vista exuded appeal as soon as they set foot in the city limits with its location, climate and affordability. The Karcanes, who are originally from Minnesota, said the area had every-thing they needed, the right weather, affordable housing and a plethora of activities they can enjoy. “We had a former neighbor purchase property here and they needed help moving,” he said. They were in town only one day when Linda looked at her husband and insisted they move here, too. So they did and now they live here all year round on a beautiful golf course property with a small lake view. “We’re going to live here for the rest our lives,” Karcanes said. A complete version of this story can be found at www.MyValleyStar.com ksommer@valleystar.com

Is your house worth that much?

It has happened again. A for sale sign went up in my neighborhood, and when I saw the asking price for the home, my eyes went wide. I couldn’t believe that house was worth so much. It turns out buyers were thinking the same thing. More than two months later, the owners are still trying to sell their property. The price has been reduced several times-more than 20% from the original number. Meanwhile, other nearby homes have come on the market and sold-some in a week’s time. How can you avoid a scenario like this? Start by working with a Texas REALTOR®. Your REALTOR® knows has in-depth experience and knowledge of the activity and values in your neighborhood. By looking at data with him or her, you can come up with a price and strategy to sell your house for the highest possible amount … without it lingering on the market.

I’m the back-up buyer. When does my option period start?

A seller accepted my back-up offer on a home that’s currently under contract to another buyer. I paid for a 10-day option to terminate, but when do my 10 days start? I don’t know if I’ll even get the chance to purchase the house. You have the option to terminate at any time while you’re in the back-up position. The option period specified in Paragraph 23 of the contract-10 days, in your case-doesn’t start until your contract becomes the primary contract, which is the date you receive notice from the seller of the termination of the first contract.

South Padre Island Farmers Market

SPI Farmers’ Market Every Sunday 11:00 a.m. – 1:00 p.m. The Shores 8605 Padre Blvd. South Padre Island, TX

34th Annual Ladies Kingfish Tournament on South Padre Island

Registration is underway! Find out more information about the Ladies Kingfish Tournament on South Padre Island by visiting their website.

Why you should ask for the seller’s phone number

I like my house, but I think I like the guy who sold it to us better. After my wife and I closed on our house 13 years ago, we walked into the kitchen and found a wonderful surprise left by the previous owner: manuals to the appliances, previous utility bills, cans of paint, and a hand-drawn map of the sprinkler system’s zones. This information has been indispensable as paint peeled, sprinklers leaked, and other systems needed maintenance. But one thing he left-something I never would’ve asked for-has proven more valuable: his phone number. That’s right, the guy voluntarily left his cell number and said to call with any questions. And I have. Most recently, I needed blueprints. Before we started building an addition, our architect mentioned how it would be easier to draw his initial plans if only he had the house’s blueprints. So, more than 10 years after we last saw each other, I called Tim, who not only sold us the house but had it custom built for his family. A few days later, the blueprints arrived in the mail. Not everyone’s going to find a seller as willing to help as we did, but you’ll never know if you don’t ask. So after you shake hands at the closing, ask the sellers to share their knowledge about the house-and maybe their cell number.

3 industry-changing legislative wins for you and your clients

Thanks to one of the most successful legislative session in recent history, Texans will have the chance on the November ballot to ban real estate transfer taxes and increase the homestead exemption. Plus, a bill to save Texas real estate brokers $200 per year is waiting for Gov. Abbott’s approval. Click here to learn more about these and several other legislative successes for Texas REALTORS®.

How land is selling in your market

Would you like to own a piece of Texas? What about 20 acres of it? If so, you would be among the thousands of landowners this year who purchased a small tract of land in Texas (yes, 20 acres is small by our standards). So, how much does a small tract of land cost in different regions of the state? Find out in the 2015 Texas Small Land Sales Report. This 18-page report from the Texas Association of REALTORS® explains how small land sales differ across the state by price and size.

What happens when the seller won’t make repairs?

I made an offer on a home, and an inspector found several things that need to be repaired that weren’t listed on the seller’s disclosure. The seller refuses to make the repairs. Doesn’t he have to? No. A professional inspection will often reveal items in need of repair that the seller didn’t know about. When that happens, you can propose an amendment to the contract requesting that the seller make specific repairs. However, the seller is not obligated to accept the amendment to make repairs. If he does not accept the amendment, and if your contract includes a termination option, you have the right to terminate the contract prior to the option period’s expiration date.

Texas Parks & Wildlife Artificial Reef Program

Please go to Facebook and Like the Texas Parks & Wildlife Artificial Reef program. The site shows where the reefing project will be and organizations and City’s that supported this project. https://www.facebook.com/TexasParksAndWildlifeArtificialReefProgram The Gulf of Mexico off the coast of Texas hosts commercial and recreational fishing and diving and plays an important role in local economies. It provides vital habitat for marine life of all types and links us with the ocean through an interconnected environment. Artificial reefs enhance this marine environment by providing additional habitat needed by marine life. The Texas Parks and Wildlife Artificial Reef Program, funded through industry partnerships and grants, creates and enhances this critical marine habitat to benefit Texans and the natural environment.

South Padre Island HOT Tax Ordinance

The City of South Padre Island has recently passed an Ordinance requiring all property owners who advertise their property for short term rental to register their residential rental unit(s) (house, condo, apartment or bedroom) with the City, AND to comply with all applicable laws including the collection and remittance of hotel occupancy tax. The City registration number must be posted on all advertising and a 24/7 emergency contact number within one hour’s reach of the property must be provided. In addition to the enforcement and collection of hotel occupancy tax, the ordinance is intended to bring credibility to the rental marketplace by deterring fraudulent listings, and to assist our City authorities in enforcing our quality of life ordinances: noise, disturbance and fire code occupancy. More information and registration forms are available online at . The final compliance date is July 1st 2015. For questions you may call Customer Service: (956) 761-8382 or Email: HotTax@SoPadre.com If a property owner has a Rental Property Manager on the island they should be handling the registration process for them. However, property owners should contact their rental agent to be sure.

3 factors that make your housing market healthy

Watch this short video for an economist’s perspective on why demand for homes increases. Visit texasrealestate.com/training-videos for more quick videos with practical information you’ll actually use.

Before you make a move

Buying, selling, moving ... it can all be overwhelming. When you're ready to make a move, don't trust your dreams to just anyone. Hire professionals—a Texas REALTOR® for your real estate transaction and a member of the Southwest Movers Association for your moving needs. 3 steps for a successful move Verify that a mover is licensed with the Texas Department of Motor Vehicles. Require a written estimate and sign a contract before anything is moved. Insure your valuables, and find out how much the mover's insurance will cover for lost or broken items. Where to locate a mover or Texas REALTOR® Find a Texas REALTOR® Find a reputable mover

Can Texas real estate trivia stump you?

Listen to the latest “Inside Texas Real Estate” podcast for some fun facts about the housing market in Texas, then share the link with your clients: texasrealestate.com/inside. You can also find out how Texas home sales from the first quarter of 2015 stacked up against the numbers from last year. Read the Texas Quarterly Housing Report