Alas, the peak of summer is here, and so it the HEAT! Most of the country endured record-breaking temperatures for a good portion of July. We hope you are having a fabulous and relaxing summer while staying cool and hydrated!
In keeping up with Southern Shores’ latest proposal, the town was not able to secure enough votes to pass the proposed ordinance requiring permits to limit the number of events held by individual properties. The community and several board members made sure to voice their opposition to the ordinance. This is a small victory for Southern Shores’ property owners who do not appreciate having limitations that prevent their property’s being used for such events.
In local news, the long-awaited flood maps for Dare County show signs of a final resolution. “The last word from the state was that the Letter of Final Determination would be issued in August which will put the effective date of the maps in February 2020,” according to Planning Director, Donna Creef. These flood maps are long overdue, and we hope they can adopt and implement them. The new flood maps for Dare County will remove many properties from “high-risk” flood zones causing a positive impact for the homeowner’s flood insurance costs along with possibly not being required to have it.
In real estate news, the market has continued to cool off as expected. Even the lower interest rates and higher amount of inventory cannot change the course for this seasonal decline in activity levels. The summer market on the OBX is about as predictable as the phases of the moon; therefore, we can predict an uptick as soon as fall knocks on our door.
We’ve included the OBAR statistics for July 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.
The OBX Homes Team is making an effort to help the environment and decrease our paper output. If you’d like to help in reducing our paper use, please send us a current email so we can add you to our paperless mailing list. 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 don’t hesitate to call or email us if you have any questions or should you need anything at all.
The OBX Homes Team
