Buying Outer Banks Real Estate Archives - Page 5 of 6

Is it time for an Outer Banks Purchase?

In just about any market you can find an article about why now is a good time to buy. It’s easy to be cynical when you hear calls to action today after what has occurred in the real estate market over the last five or six years. What makes this particular fall unique compared to just about any of the other times you’ve been told to purchase Outer Banks real estate? Rarely do so many market variables favor buyers. Here’s some information on a few of these variables. Historically low interest … Continue reading...

What is the best season for an OBX purchase?

If you are thinking about purchasing a home on the Outer Banks, then you are also probably thinking about timing. What season is best for your OBX purchase? The two busiest seasons for an Outer Banks purchase are Spring and Fall. That's partially due to the convenience of purchasing. In the summer it can be difficult to get in most vacation rentals. Access to those homes is just between vacation renters, (changeover days). Changeover days are filled with traffic. Also, the window of time to … Continue reading...

What does “under contract continue to show” mean?

Often today a buyer will notice the status of a property has changed to under contract continue to show. It sounds fairly self explanitory. The seller wants other buyers to view the property and perhaps make an offer. Just having that information is not enough for most buyers. I'll explain what I mean by that in a moment below. Here are the majority of the reasons why a listing staus is "under contract continue to show".The property Is a short sale: Once a buyer and seller agree on a … Continue reading...

How to keep from missing out on great Outer Banks deals

Believe it or not missing out on great Outer Banks deals is becoming a more common issue in today’s market Outer Banks real estate market. Well priced properties get almost instant interest and often may have more than one buyer making an offer. Recently a local agent listed a house in Nags Head on a Sunday. By the following Wednesday there were two offers on the property. One potential buyer even took a day off from work and drove down from Richmond to see this particular house. It went under … Continue reading...

North Carolina’s Residential Offer to Purchase

It's common in most state Offers to Purchase for earnest money to be paid by the buyer at the time of the contract. North Carolina is the same. However, there is another type of money that is also listed in North Carolina's Residential Offer to Purchase. That's due diligence money. Due Diligence This residential offer form is similar to commercial contracts where buyers pay for a period of time to reserve the property. During this time the buyers should complete all their inspections and … Continue reading...

3 Mistakes Buyers Make When Purchasing OBX an Home

Without the proper help, it’s easy to make mistakes when purchasing a home on the Outer Banks. Some mistakes are bigger than others but almost all can cost you money in the long run. Here are three common mistakes OBX buyers make. Not getting a market analysis: Prior to buying most buyers look at numerous homes. During their home search they’ll compare the features of each property and make a judgment call on which one is the best value and/or best suits their needs. If you are basing your … Continue reading...

Four tips to getting a great OBX Value

OBX property values have come down over the last few years and there are many great values available today. Even in these great buying times, getting the best value for your money is of utmost importance. Here are a few tips to getting a great OBX value. Get Pre approved: Sellers are most concerned about your ability to purchase the property. When a seller is unsure if you can get a loan to purchase their property, they’ll be less likely to negotiate and/or accept your offer. A pre-approval … Continue reading...

Why you should use just one OBX Realtor

Using just one OBX Realtor will save you time for enjoying the Outer Banks and will likely make a difference in the service you receive. Oftentimes Outer Banks buyers will call an agency about a property the OBX Realtor has listed and then call another when they see another property they find interesting. When you call different listing agents about their property, more often than not you will be asked many of the same questions by every Realtor you call. Also, most Realtors who have made a … Continue reading...

How come foreclosure sales sell close to asking price?

That’s a great question that most new Outer Banks buyers might not even know to ask. Even though it is counter intuitive, it’s a fact; the average list price to sales price ratio is much higher for bank owned properties. A few reasons for this will be addressed here. Keep in mind that the only person who sets the sales price is the person paying for the property. A seller can price their property at what ever price they want but it will not sell until a buyer sees the value. The closer a … Continue reading...

Has the OBX real estate market hit bottom?

Defining what the bottom of a market is may be different depending upon who you talk to. Looking at numerous sales indicators and their trends can give you a good idea of what is happening in the market. Unfortunately you won’t know for sure where the bottom is until many months later when trends show solid positive signs for a few months in a row. Right now there are numerous trends that have begun to show positive signs. If these trends continue it is likely we are at the bottom right now. … Continue reading...

Is it time for an Outer Banks Purchase?

What is the best season for an OBX purchase?

What does “under contract continue to show” mean?

How to keep from missing out on great Outer Banks deals

North Carolina’s Residential Offer to Purchase

3 Mistakes Buyers Make When Purchasing OBX an Home

Four tips to getting a great OBX Value

Why you should use just one OBX Realtor

How come foreclosure sales sell close to asking price?

Has the OBX real estate market hit bottom?

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