buying an obx home Archives - Page 2 of 5

Outer Banks Co-Ownership Property

$obx fractional ownership$

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...

Buying Coastal OBX Property

Days like today remind me that buying a home on the beach is different than buying inland. Hurricane Nicole is off the coast of Florida. When you have that low pressure to the south and the high pressure to our north, the winds along the Outer Banks get extremely gusty. Our marine forecast within 20 miles of the beach is calling for eight to ten foot seas. We might also have gale force north east winds. Buying coastal OBX property is unique for many reasons. This post identifies some of those … Continue reading...

Have we found the market?

A friend recently expressed concern about his vacation home rental income. He told me that he had raised all his weekly rates 15% every year since 2020. In those past years, he was fully booked for the next year by November 1. This year he still has a few weeks available and was concerned. Could he have asked more for those 2020 and 2021 weeks and still booked the entire summer? An argument could be made that he had below market rates those two years since they booked up so quick. This year I … 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...

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...

Outer Banks Vacation Rental Income

Most Outer Banks buyers want to know about the vacation rental income available with a house. That income helps make homes here more affordable. Good rental income is a critical part of the information needed in most buying decisions. This article will help you better understand Outer Banks vacation rental income. Property Management Companies vs. Self management Most OBX vacation rental owners don’t want to be involved with the day to day management of the property. Local … Continue reading...

Affordable OBX Ocean Front

Frequently in the summer we’ll get calls on the little affordable OBX ocean front homes for sale. Many of these smaller ocean front homes located in Kitty Hawk, northern Kill Devil Hills and South Nags Head appear to be priced to sell quickly. Good weather makes the beaches in front of these houses very inviting this time of year. Similar to most investments the pricing of these homes follow the risk versus reward theory. In short, the more risk involved the more reward possible. This post is a … Continue reading...

Best OBX Buying Information

It’s hard to make a smart OBX real estate purchase without the best OBX buying information. It's surprising how much information my clients find from an Internet research. Buyers finding owners on Facebook is a pretty common occurrence. Some of that type of information is not very helpful in making purchasing or selling decisions. Other information can make a big difference. For example, it is helpful to see actual vacation rental income. Depending upon the time of year you might be able to get … Continue reading...

Outer Banks Co-Ownership Property

Buying Coastal OBX Property

Have we found the market?

OBX Buyers’ Closing Process

Summer 2022 OBX Take Off

Making an Offer on an OBX Property in 2022

Get OBX Market Exposure

Outer Banks Vacation Rental Income

Affordable OBX Ocean Front

Best OBX Buying Information

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