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...
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...
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...
Why should I get a survey?
We often hear the from Outer Banks buyers, "Why should I get a survey?". It's not necessary to have one completed and they cost a considerable amount of money. On the other hand, having an accurate drawing of your property does have its advantages. Here are some stories and thoughts on why having a survey is important. Land Swap A few years ago, a Kitty Hawk homeowner installed a pool in the side yard setback. Unfortunately, the town does not allow that. Instead of moving the pool the owner … Continue reading...
Sight Unseen OBX Purchase?
A sight unseen OBX purchase was as rare as purple sea glass just a few months ago. Our bridges to the Outer Banks have been closed since mid-March. Prior to the pandemic many out of town buyers were seriously looking at purchasing and collecting the summer rental income. Of course, those plans are over or delayed for most folks since they can not get here to see the houses. Not everyone has stopped shopping here though. In fact, we’ve had three different buyers who have been comfortable … Continue reading...
OBX Real Estate Marketing Changes
One of the first big OBX real estate marketing changes that occurred when the virus hit was the Homes and Land Real Estate magazine stopped publishing. That magazine has published continuously here for about 30 years. I had been advertising with them for every issue since we started Scott Team Realty in 2002. Print advertising for real estate has become less and less effective as smart phones have become ubiquitous. Resort Real Estate Market Outer Banks Real Estate marketing has always been a … Continue reading...
Dare County 2020 Tax Revaluation
This past Thursday I received my Dare County Tax Revaluation in the mail. By Noon on Friday I had received numerous calls or visits from OBX property owners wanting to know if this is really what their house is worth. This post is a little bit about this new revaluation. Hopefully it will help you in your decision about what to do next. What is a revaluation? The state requires that counties revalue property values at least once every eight years. Dare County decided to complete their … Continue reading...