Posts Tagged ‘outer banks real estate’
Congratulations to Dawn Stultz of the OBX Team. Dawn was selected as the October Agent of the Month for the Coldwell Banker Seaside Realty Kitty Hawk office. In addition to this excellent recognition, Dawn was also recognized as being in one of the Top 10 Agents in the Coldwell Banker Seaside Realty Kitty Hawk Office for closings year to date.
If you are looking for an excellent Outer Banks Realtor, consider Dawn Stultz and the OBX Team for your Outer Banks real estate needs.
Outer Banks Sold Homes Report for September 2009
September on the Outer Banks saw 95 residential homes sold. This was down 3 from the month of August. When compared to the month of August we saw less homes sold, but more pieces of land. The month of September ended up having 2 more sales that August due to the number of closings on vacant land.
While under 100 homes sold in September it does seem as if there are a number of people interested inpurchasing homes in the Outer Banks. Hopefully a strong October is to follow to keep the progress of the last 5 months going. It does seem as if home prices are starting to stabilize along the OBX.
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.
A new Business Week article on investing in real estate, happened to mention investing in a vacation home. If you are in the market for a high-end vacation home, there are tremendous deals out there right now. While certain high-end markets (think Vail or Aspen) have held up well during the recent downturns, most vacation areas have not fared as well and there are deep discounts to be had.
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In my opinion it seems like a fair assessment of the deals to be had in vacation homes. Great opportunities continue to exist all along the Outer Banks.
Start your search on the Outer Banks MLS.
Recently one of the hottest areas of the Outer Banks real estate market has been distressed and foreclosed home sales. Outer Banks distressed home sales include both bank owned homes and homes that are being sold as potential short sales.
In the month of July we saw a very encouraging statistic as 101 residential properties closed on the Outer Banks MLS. July was the third month in a row that over 100 homes closed on the Outer Banks MLS. This July was also up 13 sales when compared to July of 2008.
Bank owned homes and short sales are making up a large percentage of all transactions. 29 of the 101 properties were distress sales for a staggering 29%. Of those 29 sales, 20 homes were sold as bank owned. This was up from 18 bank owned homes sold in June.
It seems we will continue to see bank owned homes dominate the market until the distressed home inventory is cleared. This makes for excellent opportunities for those looking to take advantage of today’s real estate market. Many bank owned homes are easily converted into income producing vacation rental homes.
Our team can point you towards the best investments in the Outer Banks from foreclosures to oceanfront rental homes. Why wait any longer? Join our OBX Bank Owned Homes Newsletter.
Market conditions have made real estate in the Outer Banks especially attractive. Prices have fallen and seasonal rents have continued to remain strong. These factors work to increase the capitalization rates on Outer Banks investment and vacation homes.
Using capitalization rate can be a quick but effective way to compare investment homes. Cap rates in the Outer Banks have definitely increased as prices fell in 2007 and 2008, while tourism remained strong. Historically tourism in the Outer Banks is less affected by economic downturns than neighboring beaches. There are many factors which contribute to this, one of the biggest being relative price of homes in the Outer Banks when compared to neighboring beaches.
Many who have never been to the Outer Banks are startled to learn what value can be found. Investing in the Outer Banks can be especially attractive when additional factors are considered. Local tax rates, extended rental season, and low initial home price can significantly contribute to the success of an investment.
If you are interested in learning more about investing in the Outer Banks, visit Outer Banks Real Estate. We are also tracking current Outer Banks foreclosures.
