Outer Banks Real Estate News Blog

We are often asked about many things that affect our local area, from how to buy here, how do we make this pace our home, whats it like to invest or live here on the beach. What are the winters like and how is the weather. We are real estate experts in the area and have been full time brokers here on the outer banks since 1998.  We will also keep up to date on any new changes that may affect our values, our environment, the beaches or the quality of life. 

We also love to partake in the many outdoor activities here on the beach and sometimes want to share those experiences with you. We like to support our local businesses and believe is it great to let others in on our recommendations, we believe our success is due in part to the visitor experience of our beach home. Hope you enjoy and let us know if there are any items you would like us to address.

May 18, 2019

Palmers Island in Duck Gorgeous Oceanfront Estate for Sale

Ready for the next lucky owner this amazing oceanfront estate located in the Premier Palmers Island community is just minutes from the Town of Duck. This is currently being used a vacation rental and the new owner could enjoy all the benefits of ownership, purchasing now spring 2019. Rentals are in place. 

Sold fully furnished with many upgrades and sitting atop the Atlantic Ocean, wake up with the dolphins and pelicans soaring past. You can enjoy your own private pool and the grounds, while being a few hundred yards from the Sanderling Inn oceanfront resort.

Take an early morning stroll to discover what treasures the sea has deposited just step from your back door.  The property invites you to explore the beach with a private ocean walk from your home, you are just steps to the sand, surf and ocean breezes.   

Properties like these are very exclusive and Palmers Island homes are limited by only a few, rare opportunity to own in this exclusive community.

April 30, 2019

Mid County Currituck Bridge, Will this ever happen? Good, Bad and Ugly!

Well the Mid-Currituck Bridge that connects mainland Currituck to the Northern outer banks of NC has passed another milestone. I have been here for over 20 years and this has been discussed since my arrival, we were expecting it to be started in 2017, but no cigar.  All in all I think it is a great thing for the Outer Banks, if the local leaders keep a tight leash on development and do not allow the sky high mega hotels, not a fan.  

In March the bridge moved one step closer see the below timeline.  The Environmental Impact March 2010, Final Environmental Impact January 2012, Record of Decision March 2019, and yet to be completed are Financial Close, begin construction and finally open to traffic. Hell I will be 70 by the time this happens at this rate. This is also available online, news and updates on the bridge. BRIDGE UPDATE 

While I am excited and think this is a great economic opportunity for Currituck,  I am sure if you have waited in that line to get on the beach for 3-4 hours you will pay whatever they want to charge to cross that bridge, please can I just get there.  I believe there are other things that will ensue. Here are some things that I see could happen.Traffic.....this will increase on a year round basis, Corolla and the 4x4 area would get more traffic.  Convenience.....our little sleepy town could become a bedroom community to Virginia Beach and Norfolk area, WOW live on the OBX and be able to work in a city.  Travel time..... The total travel time will reduce from 2.5 hours to 30 minutes from Corolla to the State line.  Not a bad commute to the Hampton Roads Area. Safety....we will be able to evacuate the Northern beaches if needed for hurricane and storm threats, now this is a pain.  Property Values..... these will definitely increase due to the ease of getting here and the ease of access. Places like The Currituck Club, Ocean Sands, Whalehead, Corolla Light, Crown Point, Pine Island, Pine Island Reserve, Sanderling and others will benefit. Economic.....The inverse positive effect will be increased economic opportunities for small business owners in Corolla, Duck, Kitty Hawk, Nags Head areas, most of the shops in the Northern Outer Banks have to close during the winter.  I support local small businesses and think this is the back bone of the country.

A few negatives that I can see, the added convenience will open the area up to daytrippers from the Va. Beach, Hampton Roads area this will increase the traffic and crowds in the area especially in the spring, summer, fall times of year. Our precious natural place would have much strain on the resources, wild horses, marshes, water fowl, dunes and beaches.  Our beaches 4x4 especially would become more crowded and driving (fast) could cause a dangerous situation. Future Developement, increased density of the housing, hotels, etc. not a fan at all, but I know we are a popular place and many want to come and enjoy it.  We have to be mindful of the negative possible effects of this advance and plan accordingly.

Let me know if there are some businesses you would like me to review or other things you are interested in hearing about. 

Thanks for listening

Winston (252)202-2002

 

 

 

Posted in Corolla NC
July 9, 2017

WOW the Beaches are back!

The nourishment is an incredible asset to our community and if you have not seen them yet, get ready because it is amazing.  Some houses that had worries of be washed away have been saved, not to mention the increases in values because of the nourishment.  Homes for sale on the oceanfront in certain areas are now at premiums once more.  Great investment for our community and wish the entire beach would have been completed.  

We will have to find some new surf breaks as my son mentioned and the fishing will momentarily change in areas, but after a few storms the beach equilibrium will return.  You nourishment haters Be patient and we will all benefit from this investment. After all it is the beautiful beaches that enables us to work, live and earn our living, while providing recreation and delight for the millions of visitors each year. 

July 7, 2017

June 2017-Outer banks real estate market

Have you been trying to sell your house?  Do you live in a market that is on fire back home and you wonder what the heck is going on here at the beach?  We hear this all the time and since tracking the numbers some 19 year now, my determination is that we are a trailing market to these primary home markets. When your homes are selling in D.C. for instance, it takes a little while for the trickle to happen here on the beach. remember most of the homes here are second and rental homes, this is a luxury purchase for many and an investment purchase for others.

Well the numbers are in and after reviewing, there appears to be good synergy with minimal increase in median pricing, here on the beach for real estate sales.

Here a few numbers  

  • Sales: Total June sales - 279 Units - the highest monthly number of units sold since October 2005.  
  • Under-contract – Units listed as under contract declined by 11% due to the record number of closings in June and the normal seasonal decline
  • 410 units still listed under contract, the July sales figures should be noteworthy.
  • Home Prices: The median existing-home sold prices and the average sold price are both up by 3% compared to 2016.
  • Days on the Market: For all residential properties listed in the MLS, the average Days on the Market was up slightly (3%) but down by 24% when compared with June 2016.
  • Foreclosure / Distressed Sales: Distressed sales declined by 2% in June and accounted for just 5% of the total.
  • Inventories: Residential inventory was down by 13% in June. Lots / Land inventory was down by 16% in June.

Data Obtained from the Outer Bank MLS: July 7, 2017 Note: This report reflects corrections / updates to previous data.

May 29, 2017

Duck Beach Nourishment

Beach nourishment has begun in the Town of Duck.  This is just the start for OBX nourishment as Southern Shores and Kitty Hawk are also slated to  begin projects. 

Duck Beach Nourishment

Posted in Town of Duck
March 15, 2017

The FED is up to its ears in good news and here goes rates increasing

Today the FED raised the overnight lending rate by .25% (from .75-1.00%) Mortgage rates have already adjusted for now to this expected increase.

“With this increase well anticipated by most markets, Keller Williams does not expect any dramatic change in the current path of mortgage rates. Rates will likely continue to slowly rise this year barring a change in the economic situation,” said Ruben Gonzalez, staff economist, Keller Williams, in a statement.

“While higher mortgage rates will likely have some downward impact on demand, housing remains very affordable by historic standards and we anticipate another year of healthy home sales despite an environment of increasing mortgage rates,” added Gonzalez.

This will likely mean interest rates will continue to rise in the near future.  Not really feeling the impending over abundance of buyers ready to buy in many markets, do you think this will be a hinderance for real estate prices?  We will need to have a continued increase in salaries and continued job creation in all sectors to drive both steady demand with expected price increases.

Real estate on the NC Outer Banks is much like buying a Ferrari, everyone wants one but that Chevrolet Suburban really is more practical.  We are a following market to markets to the north of us including Virginia, Maryland, Delaware, Pennsylvania, New Jersey, New York, Connecticut up and down the east coast.

When those folks feel as though they are getting a little more money for their homes, then they are thinking about the beach house.  More to come......stay tuned.

Posted in OBX Real Estate
Feb. 28, 2017

Town Updates- Duck, Southern Shores, Kitty Hawk, Kill Devil Hills, Nags Head

Please Note: This weekly Legislative Briefing is distributed to OBAR members as a benefit of membership. OBAR provides no warranty as to its accuracy."The following is reprinted with permission from the Outer Banks Association of REALTORS®"

 

Town/County Updates

Duck –Town Council will continue their discussion of the Mid-Currituck Bridge project at their meeting on Wednesday. The project was discussed at their recent retreat. News has surfaced that the Bridge may have been put on the shelf under the new administration. Former Governor Pat McCrory was supportive of the project. Council will be considering a resolution in support of the 
Mid-Currituck Bridge and will be considering authorizing the Town Manager to enter into an agreement with VHB Engineering NC, P.C. related to the Mid-Currituck Bridge.

Kill Devil Hills – The Planning Board met last week and considered a request by Randy Saunders and Jeff Fabrikant to increase allowable height for hotels and motels with certain conditions in the Ocean Impact Residential Zone. Ben Cahoon presented the proposed zoning ordinance amendment request that included measuring height from the top of the frontal dune instead of the current measurement method of the average of four corners. He explained that oceanfront hotels needed first floor ocean visibility to be viable. Concessions on setback were included in the request. Several people spoke in opposition of “higher” development, citing citizen responses to survey questions on town height restrictions that had been compiled over the years. Planning Board members also expressed opposition to the proposal. The applicants withdrew their request before a vote was taken by Planning Board members.

Nags Head – Round two on the proposal to change the sanitation pick up schedule and the proposal to penalize property owners if trash and recycling carts in Nags Head are not rolled back to a secured area adjacent to a residence takes place at the Nags Head Board of Commissioners meeting on Wednesday, March 1st at 9 am. Several representatives from the property management industry voiced concerns about the change at the Board’s last meeting, thus provoking the Board to place the item on Wednesday’s agenda for further discussion and another vote. 
Also on the Agenda: a public hearing to consider the following: 
• A conditional use/vested right/site plan amendment submitted by Albemarle & Associates, Ltd. on behalf of John Harris, You Can Fly, LLC for substantial site improvements to Kitty Hawk Water Sports. Improvements include the construction of a 1,616 square foot retail building with an accessory two bedroom apartment as well as a water dependent commercial outdoor recreational use (tour boat and personal watercraft rental). Associated improvements would include parking, stormwater, landscaping, sewage as well as a bulkhead, floating pier, platform and slips.

Oct. 11, 2016

Hurricane Mathew Outer Banks Rallies

It became apparent to me after our first storm experience on the Outer Banks that this community is not new to tough weather.. As I was told years ago, the cost to live in paradise is the higher chance of storm threats.  Our family and friends watched and waited for days watching the path of Mathew.  Somehow, even thought the meteorologists said we were out of the cone, we knew it was no time to let our guard. Thankfully we were prepared and had little damage. Many of our or friends and clients were not so lucky.. The rainwater and overwash with the big culprit and a reminder why we build on pilings.  Dealing with no electricity is always a tough one but locals are used to that inconvenience and even welcome the opportunity to thank the men and women who work tirelessly to get everything back up and running quickly.. Our first responders and front line electricians are welcomed to eat for free at great restaurants.

I get asked from clients every now and then whether going through this makes us want to move.  No way.. this community is strong, kind and well...it's home.  We love it here and love helping people find a place here that they can experience exactly what we have.  Our kids are back to school tomorrow and many businesses are able to get back up and running and the ones that are not we will do all we can to help them recover as quickly as possible.

 

 

May 11, 2016

Kitty Hawk Kites Hang Gliding Experience

This Friday, May 13 beginning 8am Kitty Hawk Kites in Nags Head hosts their 44th Annual Hang Gliding Spectacular! This free event at Jockeys Ridge allows the public to watch pilots from all over the globe compete in four days of wold class hang gliding from atop the largest natural sand dune on the East Coast. If you here on the Outer Banks for your vacation, be sure to catch sight of these amazing pilots! We hope to see you there!

www.hangglidingspectaclar.com 

Posted in Events
April 22, 2016

Earth Day Awareness

Earth Day has become a celebration here on the Outer Banks, with an entire day devoted to spreading the word about how everyone can help keep our beaches clean, and why it's so important. There are a number of events and festivities going on this evening to celebrate and promote awareness of the importance of this day, especially here on the Outer Banks. Swing by the Outer Banks Brewing Station today between 2pm-7pm to party for a cause! OBX Care, a non-profit organization devoted to Earth Sustainability and Community Animal Rescue is hosting a party in the "yard" at the Brewing Station. Live music, family friendly activities, great food and better beer! 

Spread awareness and keep our beaches clean so our great grand children can enjoy this beautiful stretch of sand many call home. HAPPY EARTH DAY!