Specializing In Outer Banks Real Estate
Not all websites offer the same information on property for sale on the Outer Banks. In fact, you’d be surprised how much they differ. Getting accurate and up-to-date information on Outer Banks property for sale saves you time and energy. There’s nothing more frustrating than finding a house that looks promising and then spending an hour finding out it was sold three months ago. This article should help you save time and frustrations when web surfing for Outer Banks … Continue reading...
So you’ve fallen in love with the Outer Banks and now thinking of a purchase. You likely have friends who own here and recommend an agent or perhaps you called a realty company that has a house you’d like to see. Here are a few things you should expect when meeting an OBX Realtor for the first time. Agency Discussion It’s a rule that a North Carolina real estate agent has to work as an agent for someone in the transaction. Since they have to represent someone, they’d much rather represent you. … Continue reading...
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...
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...
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...
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...
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...
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...
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...
Not everyone looking to buy a home in the OBX is looking for their forever home. Many are looking for a rental property. When buyers decide to look for a rental property specifically, there are many additional aspects to consider. These aspects are different than a typical home buying process. The OBX vacation rental market is unique. Therefore, it is important for prospective vacation rental owners to understand the market and their options before making the investment. While Airbnb is … Continue reading...
