One of the first big OBX real estate marketing changes that occurred when the virus hit was the Homes and Land Real Estate magazine stopped publishing. That magazine has published continuously here for about 30 years. I had been advertising with them for every issue since we started Scott Team Realty in 2002. Print advertising for real estate has become less and less effective as smart phones have become ubiquitous. Resort Real Estate Market Outer Banks Real Estate marketing has always been a … Continue reading...
Solution to OBX Rental Income Dilemma
I think there is a solution to the OBX rental income dilemma. This article will explain this problem and provide a solution so that, hopefully, people don’t have to be in this position in the future. The problem As of this moment no visitors are allowed on the Outer Banks. Local government is concerned that our limited health care facilities could quickly become overwhelmed by the pandemic. There is no set date when vacationers will be allowed back in. This could become a real problem for … Continue reading...
Virus Effects to Outer Banks Real Estate
With access to Dare and Currituck County beaches closed off to most people without local driver's licenses, we are sure to see some virus effects to Outer Banks Real estate. Some changes to the busy Outer Banks real estate market are already happening. Probably the most affected type of property is homes for sale since people can not get here. Here are some initial thoughts about how local real estate is being affected. Comparing Months It makes sense to compare residential real estate … Continue reading...
Social Distancing on the Outer Banks
As of this writing social distancing on the Outer Banks is in its second week. The bridges to the beach have been closed to visitors for a week and to out-of-town property owners since March 20. If you are not here and need someone to check on your property then please don’t hesitate to call on us. We’re not showing a bunch of houses here right now and it would be our pleasure to help you any way we can. If you have to social distance somewhere then the Outer Banks is not a bad place to … Continue reading...
Outer Banks Insurance Primer
Questions about Outer Banks insurance are often the first thing buyers ask me when they start their home search here. Yes, homes can be insured for just about all types of events. It can be expensive and it can be fairly reasonable depending upon the property. This blog will provide you with some of the basics of insuring a home here. It’s likely we’ll go into more detail about each of these types of policies in the near future. Different Environment Different Insurance This coastal area has … Continue reading...
Dare County 2020 Tax Revaluation
This past Thursday I received my Dare County Tax Revaluation in the mail. By Noon on Friday I had received numerous calls or visits from OBX property owners wanting to know if this is really what their house is worth. This post is a little bit about this new revaluation. Hopefully it will help you in your decision about what to do next. What is a revaluation? The state requires that counties revalue property values at least once every eight years. Dare County decided to complete their … Continue reading...
Outer Banks Flood Insurance
A common question I’m asked by people who are thinking about buying a beach house is "Can I get flood insurance on the Outer Banks?" Flood insurance is available on every property on the Outer Banks. In some cases, it can be more expensive than others but it is still available. This article is the first part of a two-part series on Outer Banks flood insurance. It will focus on the reasons for higher and lower premiums. Preferred rate guidelines The best priced flood insurance … Continue reading...
Outer Banks Market Report Winter 2018-19
Thanks for taking a moment to view the Outer Banks Market Report Winter 2018-19 edition. The last few months have been promising for Outer Banks real estate activity. Sales for the first two months of 2019 have been better than recent years. Part of this trend may be due to the lack of snow storms and relatively calm winter weather. When a snowstorm is forecasted for a weekend anywhere between Virginia Beach and Boston usually buyers postpone their trips to view homes here. Rarely did … Continue reading...
Carolina Review Winter 2019
Our Carolina Review Newsletter was recently mailed out and the electronic version is emailed today. Here are a few OBX news items that did not make the newsletter... It's been rather mild on the Outer Banks this winter. I don’t remember seeing one snowflake so far and there has only been a handful of days where there has been frost on the ground. This relatively warm winter is not unprecedented. A few years back, our geraniums survived the entire winter on the front porch in Kitty … Continue reading...
OBX Real Estate Sales Winter 2018-19
We're reporting that 2108 ended up being the second best year for OBX real estate sales since the boom years of the early 2000’s. The number of transactions in the local MLS was down just slightly compared to 2017. Poor weather and higher interest rates may have had an effect on sales. A great piece of news is that the average and median sales prices went up in just about every area. The sold price per square foot also continues to climb as sellers are able to demand more for their … Continue reading...