We can sum up the month of July in one word: Rain! The Outer Banks experienced a month of nonstop rain that literally dampened more vacations than ever before. According to the National Weather Service the Outer Banks had over 16” of rain for the past month. There were several weather patterns off the coast creating a deluge too big for our small beaches and towns to handle. Many homeowners experienced flooding in places that have never flooded before. We send out well wishes to anyone who was affected by this flooding, and please let us know if we can help! The good news is the rain has subsided, and the sun has been helping dry out the area.
On a positive note on the real estate front from Twiddy, one of our in house attorneys Jeff Malarney has recently been nominated by Governor Roy Cooper to serve another term on the NC Real Estate Commission. Jeff has been EXTREMELY helpful with many of the closings and transactions with the OBX Homes Team. We are very glad to support Jeff in this position, and happy to know we have someone from the Outer Banks representing us in Raleigh.
In other real estate news, closings seem to be about the same as last year for July. The big concern is still inventory. With interest rates threatening to keep going up and inventory going down, the market has been more competitive each month, even through the summer months when things usually slow down a bit. The fall will be a good indication for the rest of 2018 and into the spring of 2019, since homeowners typically put their houses on the market early fall so they can sell before having to carry the expenses over the winter.
We’ve included the July OBAR statistics report for your review, but if you would like a tailored report with specific figures for your neighborhood, please let us know. If you’ve been thinking about selling, we are happy to assist you with a free market analysis of your property. If you or anyone you know is interested in buying a property, we would love to help find the perfect home on the Outer Banks.
The OBX Homes Team is making an effort to help the environment and decrease our paper output, so if you’d like to help with reducing our paper use, please send us a current email. We will send you a notification each month to look on our website for the updated owner note and statistics report. We appreciate your effort to help with this and thank you. We will continue with owner mailings to those who wish to receive them by mail.
Please stop by our office in Duck to say hello if you’re in the area, and as always, please don’t hesitate to call or email with any questions, or if we can help you with anything.
The OBX Homes Team
