We are approaching the prime summer months, and it appears that our resort community is on par for another banner season. The weather hasn’t been perfect, but we will take the summer’s heat and afternoon thunderstorms over the winter’s nor’easters any day. We can interpret these summer storms as a gentle reminder for us to slow down and enjoy our surroundings, even if it’s just for a few minutes. We hope that Mother Nature cooperates and doesn’t ruin any planned events for the upcoming holiday and planned vacations for many.
The OBX Homes Team would like to wish everyone a happy and safe 4th of July!
The month of June was an active month for area law-makers and enforcers. At the end of May, a local Duck business owner got arrested for the attempt to access the beach by way of private access that is owned and maintained by a specific subdivision. The local business owner (who’s also a town resident) argued that since he pays taxes to the Town of Duck, he should have the right to access the public beaches. Duck responded to the backlash by sending out a letter to homeowners, visitors, and posted it on their website. The main objective of the Town’s statement declared the following: “Beach access locations in Duck, whether on easements or individual property parcels, are available to Duck residents, renters, and their guests through private accesses maintained by neighborhood homeowners’ associations (HOA). These accesses are not available to the general public as they are not owned or maintained by the Town of Duck.” Both the residents and the Town of Duck have sought legal counsel and will hopefully reach some agreement. Discussions regarding this event have come to a halt over the last few weeks, but we expect to hear more in the upcoming months. The OBX Homes Team is following this story closely and understands the issue can impact the real estate market directly for future and current homeowners.
The Town of Southern Shores just proposed another angle to combat their fight against the mini-hotel concern. The town has tried several different ways to prevent larger homes from being built and becoming rental machines. Recently, Southern Shores proposed an ordinance for residents and renters requiring a permit for any event or gathering at a private residence that totals more than 25 guests. In addition to requiring the permit, each property would only be allowed to host a certain number of gatherings in a year. This proposal is still under review and awaiting final approval, but it could pass as early as the next town council meeting scheduled for the beginning of July.
The Twiddy family has exciting news to report about one of the best local advocates in the real estate business. Our very own Jeff Malarney has proven to be a substantial asset to the North Carolina Real Estate Commission and was just named the chairman of the board. As many of you may know, Jeff Malarney is a powerful voice to have on our side. Malarney has advised the OBX Homes Team – along with many other Twiddy clients – on many legal questions, and he’s known for going above and beyond the call of duty. We are grateful for Jeff and excited about his new position as chairman of the board.
In real estate news, the local market indicates the usual seasonal decline is upon us. The majority of the properties under contract from the spring have successfully closed, whereas the number of showing requests and offers on current listings has slowed quite a bit. If the usual pattern stays par for the course, there should be no cause for concern. In good news, the Feds have not raised the interest rates. Lower interest rates should motivate buyers to search more actively during the summer season to take advantage of the current rates.
We’ve included the OBAR statistics for June for your review. If you would like a more 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.
Please don’t hesitate to call or email us if you have any questions or should you need anything at all.
The OBX Homes Team
