Outer Banks Foreclosure Update 9-25-09

August was an interesting month on the Outer Banks MLS.  Not since November of 2008 have we seen distressed home sales, bank owned homes and foreclosures, make up such a small percentage of the total sold residential homes.  In November 2008 we saw distress sales account for 14% of the total sold homes.  This August we saw distress sales account for 13% of the total sales.  For August we also saw a total of 124 homes sold on the OBX MLS as compared to 59 homes in November 2008 and 104 homes in August of 2008.

For those looking to sell their home in the Outer Banks, this is a very encouraging sign.  For those who are looking to buy a home, and were waiting for the market to stop declining, now may be the time to get out looking.  Some great opportunities can still be found in Outer Banks foreclosures and short sales.  It will be interesting to see where September ends up, by there definitely has been an increase in those looking to buy homes on the Outer Banks.

Map Search of the Outer Banks MLS

Looking for an easy way to find those diamonds in the rough? Searching for an Outer Banks home should be a fun and rewarding experience. One of the most difficult challenges of searching for a home on the Outer Banks MLS, is deciding exactly where it is located. The OBX Team has the solution for you.

Try our Map Search of the Outer Banks. The map search also allows you to limit the homes by bedroom, bath or price like the traditional searches but this way there is no surprise about where the home is located. Zoom in as much or as little as you like. Google maps make it easy for your to find the home’s location. Time is money. Don’t waste yours looking for homes that won’t meet your needs.

Ready to learn more about investing in the Outer Banks? Great opportunities exist in Outer Banks foreclosures and short sales. The OBX Team is here to assist you in finding a vacation ,investment or second home. Get ready to take advantage of today’s market.