buying obx real estate Archives - Scott Team Realty, Inc.

Is the NAR Settlement bad for OBX Buyers?

Imagine you are in the market to purchase new appliances. You go to Home Depot and see some that you like. Unfortunately, none of them have prices on them. Of course, you want to know what the prices are, so you pull up the Home Depot website on your phone. Perhaps prices can be found there. No prices are listed there either! This may be a little bit of an exaggeration, but this analogy is similar to what’s going on in the real estate industry right now. Agent Fees Prior to the National … Continue reading...

NAR Settlement Impacts OBX Real Estate

If you follow real estate then you are probably aware of the lawsuit that the National Association of Realtors’ (NAR), settled this spring. Most local Realtors were disappointed with the settlement and the media coverage. In many ways, news articles mislead the public about how we conduct our business and how it would impact the Outer Banks real estate industry. This post is not to explain the details of the settlement. If you are looking for that click here. The purpose of this post is to … Continue reading...

Finding an OBX Rental Gem

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...

Outer Banks Septic Systems

Many areas of the Outer Banks don’t have central sewage systems or community sewage systems. As a result, it’s a good idea to have a little knowledge about septic systems so that you can protect your Outer Banks property and make good buying decisions. This blog will provide some basic information about Outer Banks septic systems. What is a septic system? Basically, the septic system is a mini-sewage treatment plant. Septic systems clean the effluent to a level that does not contaminate the … Continue reading...

OBX Market Report Fall 2023

After finishing school in 1989, I immediately started my real estate career on the Outer Banks. The other Realtors who had been working in this market for a while kept saying "You should have been here last year." Evidently, I had just missed the peak of that previous real estate cycle. New agents who enter the market today are likley to hear simliar comments. After close to three years of very busy real estate activity, the Outer Banks Real Estate Market is showing some signs of cooling … Continue reading...

OBX Market Info Spring 2023

Are home prices dropping on the Outer Banks? Opinions vary on this and it’s difficult to quantify. However, it’s clear that the number of real estate transactions has gone down significantly compared to the same period of 2022. Just because the number of sales is down does not mean values have gone down. On the other hand, fewer transactions often help cause lower values. This post will outline some recent statistics and OBX Market Info for the spring of 2023. Supply The indicator that … Continue reading...

Move to the Outer Banks?

As the great debate rages, “Should we move to the Outer Banks?” the answer is an unequivocal “maybe.” Of course there are two camps of thought. Some say absolutely not; not wishing to share what they have found. Others who welcome anyone who wants to live here. The truth is, living on the Outer Banks is somewhere in between. It’s a difficult thing to explain the pros and cons of living somewhere. It is, after all, a very broad topic and by its very nature somewhat subjective. However, by … Continue reading...

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...

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...

Is the NAR Settlement bad for OBX Buyers?

NAR Settlement Impacts OBX Real Estate

Finding an OBX Rental Gem

Outer Banks Septic Systems

OBX Market Report Fall 2023

OBX Market Info Spring 2023

Move to the Outer Banks?

Outer Banks Co-Ownership Property

Buying Coastal OBX Property

OBX Buyers’ Closing Process

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