Outer Banks wildlife

This is the time investors and second home/rental buyers have wanted. With a positive track record of increased average prices and number of sales for 2 years, 2013 has all the indicators for a strong buying season.

Let’s look at the facts: The average single family home sale price in 2011 increased 3% over 2011 while the price increased 1% in 2012. Though these increases are not the increase sellers want to see, they certainly signal the buyers that the bottom hit over 2 years ago.

With a 2 year increase and continued low interest rates, buyers are beginning to jump back into this market. Sellers continue to negotiate all reasonable offers. Sellers also understand that by pricing for today’s market it is entirely possible to have multiple offers to consider.

The number of sales also continues to improve. 2012 saw a 16% increase in single family home sales over 2011. Of course this increase in sales has reduced the number of homes available to purchase.

Bank owned homes and those listed as short sales have also decreased. In 2012 bank owned sales dropped from 19% to 16% while short sales dropped from 13% to 10%.

Are you thinking about owning Outer Banks property? Call Mike today to get your questions answered. After all, you can’t make an informed decision without straight talk from a reliable source. Call Mike at 252-599-2844 or go to mike@OBXperts.com.

You can trust the Outer Banks Experts
Mike and Linda Powers
Resort Realty
1248 Duck Road, Duck NC 27949
www.OBXperts.com

As for asking price, the lowest is $137,000 in Colington Harbour and highest price is $636,300 in Kitty Hawk. There are 8 homes under $200,000, 4 homes between $200,000 and $300,000, 5 Outer Banks bank owned homes are between $300,000 and $400,000. There is on property between $500,000 and $600,000 and 2 bank owned Outer Banks homes above $600,000.

Outer Banks bank owned homes can be a good buy. Ask us to help you find one to suit you. We can compare all the positives and negatives on any home for you whether or not it is bank owned. Let us compare the prices, features, and locations for you.

Because of the current low asking prices on many properties and great interest rates, homes other than bank owned can be a strong investment. Contact us today and begin your search for the Outer Banks home to meet your family and financial goals.

See the availability of current available Outer Banks bank owned homes.

Please visit our Outer Banks real estate web site for additional information about the Outer Banks. You can also set up your personal search for properties of interest to you.

Email me with your questions and interests. I am here to help you learn about all the Outer Banks has to offer you.

Mike and Linda Powers
Live the Dream
Resort Realtyd
1248 Duck Road
Duck NC 27949
800-545-3908

Four financial benefits never change. Income. Principal reduction. Tax savings. Appreciation.

Income is the cash flow before tax.
Principal reduction is the money paid toward the amount borrowed.
Tax savings come through deductions and depreciation.
appreciation is the increased value gained on the property at the time of sale.

Though these principals were true at the height of the sellers market, the high sales prices worked against the outcome for return on investment. Today the game has changed again. Outer Banks investment opportunities are back. Rental income has increased. Principal reductions now reduce the loan amount more quickly because interest rates are at record lows. Since sale prices are on the bottom now, buyers are receiving more value in their purchases. Tax savings remain the same – beneficial for the smart investor. Appreciation will certainly increase in the coming years with sale prices rebounding from the lows set in 2010.

For investors who know the Buffett principal of buying in front of the rush, this is the time to begin the search. As professional real estate agents, we will direct you to the best properties meeting your location area, features of the home, price guidelines, and, most of all, positive income. Contact us today…before the rush. We get the job done.

It’s easy! From your smart phone search for www.lindapowers.OBXwhere.com then simply save to your home screen.

Here’s our logo you will see. Just click on “search” and choose your search type.

When you’re here at the beach you can search both Dare and Currituck counties for property near you

OR

You can choose your criteria for town, price, income, location, number of bedrooms.

You can see your search results on a map or list.

Make notes on each property – save to favorites. Contact me for showing or additional information. From the search page get community and event information.

Enjoy this great app for Outer Banks real estate and homes for sale. Just think of us when you consider buying or selling. We love working with folks like you from Corolla through Nags Head. Give us a call today at 252-599-2845 with your questions.

The cost of Outer Banks real estate compared to the towns and neighborhoods where our clients work and live often is a surprise to folks who want to buy here. It doesn’t matter if a year round or second home is wanted, or, for that matter, a second home in a rental area or an investment property.

As an example, let’s say you currently own a 2500 square foot home with 3 bedrooms and 2 1/2 baths, large kitchen, formal dining and living as well as a family room. You want something similar as a year round or second home on the Outer Banks. OK. We can do that.

Oh, but you want a similar price as well. Just think about this. You love the Outer Banks. Come as often as you can. You want to own a part of it. You want a water view, ocean or sound. Perhaps you want a boat and would like to live in a boating neighborhood.

You see where this is leading. Many other families have the same dreams … the same wants. Unfortunately, the very thing that makes the Outer Banks so beautiful – water all around us – is what makes the limited land so valuable. When land is very limited and also in demand, even in this economic climate, prices are just naturally higher.

The reality of owning Outer Banks real estate is that a sacrifice (if you can call it that) is made in the size or features of your house so you can simply walk on the beach any time, or watch the sunset over the sound, or watch the water foul come in flocks for the winter, or …

If you have questions or comments about the cost of Outer Banks homes for sale, please contact me. If you are considering a purchase of Outer Banks real estate, I can work for you as your Buyer Agent.

Some buyers have already taken advantage of Outer Banks real estate once again being a good buy. The number of sales have increased 5% over 2010.

With this boring read of statistics, let me show you some exact numbers. While resort real estate remains higher than traditional home sales, just remember there is only so much beach property … and it will continue to be in demand.

Over the past few years, prices have dropped significantly. Now that they are reasonable again, buyers are serious about getting back in the market, both as investors and as second home owners. See below to get a glimpse of the price corrections on past Outer Banks homes for sale. Call me for details on currently listed property for sale. I will find the great buys for you.

A Nags Head ocean front home at 114 E. Sea Holly Court sold in 2004 for $1,300,000 and sold again at $1,000,000 in 2010.

A Kill Devil Hills ocean front home at 1005 N. Virginia Dare Trail sold at $3,000,000 in 2003 and sold again in 2009 for $1,653,750

A Pine Island ocean front home at 115 Cadwall Road (Corolla) sold in 2006 for $2,775,000 and resold at $1,850,000 in 2010.

Another Corolla home – ocean front – at 991 Lighthouse drive in Whalehead sold in 2006 for $1,795,000 and in 2011 sold at $860,000.

167 Mantoac Court in Duck on the ocean sold in 2005 for $2,465,000 and again in 2009 for $1,500,000.

Homes away from the ocean front have also seen great price reductions … for the buyers. Sellers are pricing to compete with other property including short sales and foreclosures. Don’t rule anything out.

With prices stabilized and poised for a slight annual increase now is the time to buy your Outer Banks home. Let us help you find the best buys. Outer Banks homes for sale currently offer a wide variety of locations, styles, and prices. Let’s talk about your wishes for Outer Banks ownership today. It is never to soon to begin making your dream a reality.

Remember your first Outer Banks visit when you parked your car and hurried to the beach for that first sight of the Atlantic Ocean … feeling the air blowing your hair … smelling the salt air … hearing the cry of sea gulls and watching the flying formation of the brown pelicans.

Wasn’t that outdoor shower fabulous on a hot summer day! The kids loved chasing the foam … splashing in the water … building sand castles. Remember wandering how such a little body could be covered in so much sand.

Whether you chose one of the hotels/motels, or a summer cottage, visiting the Outer Banks always created such relaxing memories. In addition to the beach and all its treasures, there were the restaurants offering the freshest of daily catches, the shops with mementos for all, and the many attractions.

You could imagine watching Wilbur and Orville testing their designs for flight trials, you could visit the old life saving station, climb a lighthouse, fish from a pier or surf, or simply sit in a rocker and watch the day go by.

Well, you know, the Outer Banks has not changed much at all over the years. Perhaps there are more homes than you remember, but the Outer Banks continues to be that perfect family vacation spot. If you haven’t been here in some time, you should come again for a refresher course. If you have been here recently, you know it won’t be long before you begin planning your return.

Making Outer Banks memoriesWait! I’ve stated the Outer Banks has not changed much, and that is not entirely accurate. Outer Banks real estate is once again affordable … after 2005 prices dropped significantly. If you ever thought about owning your own very special place on the Outer Banks … if you thought you couldn’t afford it … now is the time to rethink your position. Sellers are eager. Selection is great. Interest rates are low.

Outer Banks homes for sale once again offer the opportunity for you to own your own vacation place, begin new memories, and share your pride with friends and family. Outer Banks memories are waiting for you. Begin collecting yours now.

Low asking prices and interest rates aside what is the driving motivation for buyers in this market? Because the Outer Banks real estate market is not comparable to the traditional market, the motivations vary widely.

If you are considering:

A second home, you are looking for perhaps a weekend getaway close to the beach for you and your family …perhaps an extra bedroom for friends.

A second home with some rental income. You want the pride of owning your own Outer Banks home, but your visits are limited to perhaps 2 or 3 weeks a year.

A year round home to work and/or live on the Outer Banks.

An investment home that offers all the amenities vacationers want for a week. You understand the importance of having a place away from the pressures of work and worry, share it with others as you invest in your future.

And you are ready and committed to make your dream a reality, begin by determining:

Price range or budget. Talk to an Outer Banks lender to get pre-qualified for your financing. By determining your comfort range you will be able to settle on location and amenities.

Amenities. The “wish” list of features can include a hot tub, pool, ocean view, gourmet kitchen, game room, theater room, and much more. The question becomes, “Is this a want or need?” After all, we can have everything…for the right price.

Location. Each Outer Banks home offers a unique location, and each comes with a price variation. Again, the question becomes “What must you have?” Ocean front. Ocean side. Golf course. Sound front. Sound side. A short walk to the beach. Near activities for the tweens and teens.

While this appears to be complex, consider that Mike and I have been involved in Outer Banks real estate sales for many years. We know the market. We know how to help you determine the property that best meets your needs and find the price you want to pay. As your Buyer Agent we work to protect you by getting you the best possible price…at no fee. We are paid at closing by the seller through our MLS agreement.

Why not contact us now and put us to work for you? Let us help you plan your future on the Outer Banks. Let us do what we do best … find our clients an Outer Banks home.

107 Ocean Boulevard, Southern Shores

$424,500

• 4 bedrooms, 2 baths
• 1613 square feet of heated space
• built in 1981
• Decks, Ocean views, Sunrises
• Beach picnics
• Dolphins
• MLS 65073

This Southern Shores 4 bedroom home for sale is just steps away from ocean access. What views! The price has just been reduced to $424,500. Serious buyers, call today.

Southern Shores 4 bedroom home for saleIf you are wanting a second home or income potential in this price range, you need to see what 107 Ocean Boulevard provides. Actually, you would love living here year round as well. Built in 1981 with 1613 square feet of heated living space, this charming Outer Banks cottage is the place to feel cozy and relaxed. 107 Ocean Blvd in Southern Shores NC

While the paneling says this home was built in 1981, it also says “easy maintenance”. And, after all, that’s what beach living should be about. The lot is large by beach standards – 100 x 200 with woods filled with song birds. The location – really close to the beach – has grocery stores, shops, restaurants, all conveniences close by.

I could go on, but you really do need to see the interior. Don’t wait until someone else gets this cutie. Make your Outer Banks dream of home ownership come true … today!

Hurricane? What hurricane? Whether I choose to believe or not, Irene is coming. Uninvited. Unwelcome.

I used to think the name “Irene” was beautiful then someone had to name a hurricane Irene. The same with all the other major hurricanes. Isabel. Katrina. Well, the list is just too long. Why can’t they choose ugly names?

So … you ask, what are we doing to get ready for bad weather at this point? We’re waiting. We’re watching. As the storm tracks venture further east, we are hoping that trend continues.

At this point our concerns are for our Outer Banks tourists. We just want our visitors to be safe. While a hurricane can be exciting it can easily be dangerous.

If you have not lived in a coastal area and have not”hunkered down” during howling wind and sideways rain, you may want the experience, but think twice. It isn’t glamorous, and seems to last f-o-r-e-v-e-r. I can say after my first “hunker down” experience that I now have great respect for mother nature. Let’s say it’s just smart to know you are going to be safe.

Even when this storm tracks away from land it’s affects will surely be felt for miles away. We can still loose power which, in itself, doesn’t sound like much, but for tourists it means, no ATM’s, no restaurants, and a possible shortage of supplies.

So to everyone it Irene’s projected path. Pay attention. Collect the things you need to be prepared. Stay safe. Pray that she goes out to sea. Goodnight, Irene.