When you begin to look at vacation rental homes for sale on the Outer Banks, it often becomes obvious… If the property only generates the same income as it does right now, then you’ll end up having a negative cash flow. Why is that? This article will discuss reasons why and help you in the process of finding an OBX Rental Gem. Flexibility For many vacation rental homeowners, a home here is not about making money. It’s about having flexibility for OBX vacation time. Of course, these owners … Continue reading...
Buying Outer Banks Real Estate
Buying real estate on the Outer Banks is different than most areas. This category addresses many aspects of coastal North Carolina purchasing.
Southern Shores Living
Is Southern Shores, NC a good place to live? Southern Shores has the best of both worlds...great year round living and fabulous vacation living. There’s beach zone living with its smattering of classic flattop cottages and numerous classic vacation homes. A few folks reside here year round but it is mostly vacation homes. The beach zone can be roughly described as that area that is just a short walk to the ocean. And then there is many square miles of great primary residential living. Very … Continue reading...
Dare County GIS
It’s amazing today what you can find on the Internet. Dare County Government is a very good source of Outer Banks property information. The Dare County GIS (Geographical Information System) department has all kinds of good information that both visitors and locals will need at some point. So what is GIS? A large part of GIS is aerial photographs that you can manipulate on-line to see different types of information. Layers of information are placed on top of the aerial photographs of the … Continue reading...
Is the Outer Banks a good investment?
We frequently receive inquires from potential buyers who want to purchase an Outer Banks property that has a positive cash flow. It’s amazing how many people today want to become landlords! In many places of the country, you can purchase a house, possibly make some improvements, and then have a tenant pay the mortgage and expenses. This is a great way to create wealth. So is the Outer Banks a good investment? You can use our vacation rental home calculator to determine if a specific house has … Continue reading...
Outer Banks Co-Ownership Property
Co-ownership homes on the Outer Banks became popular in the 1980’s. A co-ownership home is not a time-share property. Most Outer Banks co-ownership properties (sometimes called fractional ownership), give a buyer one tenth possession of the home. It's possible to purchase more than one tenth and some owners do. The other owners could be your friends and relatives. But in most cases, it is other folks who love the Outer Banks as much as you. Each year you'll have five weeks to use the property … Continue reading...
OBX Buyers’ Closing Process
So you’ve found the OBX home, you’ve entered into an agreement with the seller, the inspections are complete and your loan has been approved. What’s next? This page will help you better understand the OBX buyers' closing process. Utilities Of course, you don’t want your utilities turned off anytime around the closing. Even if the house will be staying vacant for a few days, you don’t want the refrigerator to warm up or for extreme temperatures to affect the house. With a day or two notice, … Continue reading...
Summer 2022 OBX Take Off
Summer 2022 on the OBX is about to take off. Soon the beach will be full of people enjoying the sun, the surf, and the sand. You’ll smell folks grilling as you drive down the beach road. Families and friends will be gathering together to make memories and enjoy each other’s company. As you count down the days till your beach vacation, we will provide you with some tips on what not to forget. First, what not to forget to bring on your trip When packing for a fun-filled trip to the OBX you … Continue reading...
Making an Offer on an OBX Property in 2022
Recently we listed a home for sale in Duck. In just four days we ended up with eleven offers. Just one of them was for the asking price. The rest were higher. During the time we were receiving offers about half the agents told me that their clients had made offers on two, three or four other houses and had not been able to be the accepted offeror. This certainly is an usual market. It’s unknown how long this will last but if you are serious about purchasing an Outer Banks property now then … Continue reading...
Market Preparation for Outer Banks homes
On the Outer Banks, market preparation can look different, than in other areas or types of homes. Once you have determined you want to sell your home, the next steps outlined in this blog are essential in ensuring you get the biggest bang for your buck! Preparing your home for the market Market preparation is not just signing with a selling agent. There are important steps sellers should take. These steps will increase a seller's return on their investment. Two to highlight … Continue reading...
Get OBX Market Exposure
Since 2020, we have seen the housing market explode. Some expected this to fizzle out in 2021, but three months into 2022 and the housing market, especially in the OBX is hot. More importantly, there is a lack of inventory, which is sending prices up. Inventory is down 34% between February 2021 and February 2022. Current inventory in the Outer Banks Association of Realtors’ MLS system is sitting near 700 properties whereas last year it was just over a thousand. Moreover, in March 2020, there … Continue reading...