Although Hurricane Matthew was forecast to turn out to sea before impacting our area, we awoke to a full blown hurricane during the wee hours Saturday night and into Sunday October 9th.  Many of the area’s most popular events were cancelled in anticipation of potential rain and wind, but few were prepared for the brunt of the storm that we got. The Duck Research Pier clocked winds at 80 miles per hour and we experienced torrential downpours totaling 17+ inches.  The result has been widespread flooding due to the rain water sparing few areas of the island.  There was some storm surge flooding too.  The area was just drying out from Tropical Storm Hermine and the tropical depression that followed it, so we were in no way able to absorb the amount of rain that we experienced.  Many homes and roads are still flooded.  Power lines and trees came tumbling down, and the result was widespread power outages and now a widespread cleanup effort.  The good news is that most have power once again, visitors are returning, and school is back in session.  We have no doubts that the Outer Banks will be back to normal in no time.   If you missed your fall Outer Banks getaway due to Matthew, hopefully you will have the opportunity to return before winter.

After a rather cool June, the month of July reminded us that we do live in the south!  Most every day was into the upper 90’s with a few reaching 100!  Of course there were plenty of thunderstorms in the evenings to cool things down.   We hope that you are enjoying summer, our favorite time of the year on the Outer Banks; the fall, is right around the corner.

Dare County has released the preliminary flood maps as of June 30th.  You can view them athttp://fris.nc.gov/fris/ and you can review the frequently asked questions at www.darenc.com/floodmaps.  The flood maps are largely favorable and take many homeowners out of higher risk zones just as they did in Currituck County.  The Currituck County flood maps meanwhile, are now in the 90 day appeal period.

In other news, the area is soon to be home to two new recreational options.  The water theme park in lower Currituck County (on the mainland) is set to begin in September with  planned completion in time for next summer.  The park will sit on 80 acres and plans to host 4,000 to 5,000 visitors each day.  The project’s projected cost is 45 million.  Additionally, the site of the old Dowdy’s Amusement Park in Nags Head at the intersection of Highway 158 and Bonnett Street will soon transform into a beautiful multiuse public park. Construction for that site is set to begin later this month.  The 5 acre site will feature children’s play areas, green spaces, an event area, and more.  The town plans the project to cost $1,275,000.  Many of you may remember the old Dowdy’s Amusement Park, as it was operational for 40 years.  I have many fond childhood memories of it myself.

Many local restaurants are reporting a slight 2% overall decrease in revenues for this summer.  Real estate sales are typically slower during the prime season, but market health is still improving, and we are expecting a busy fall selling season.  This is the time to contact us if you are considering selling your property this year, as fall is a busy time for sales activity.  We hope to hear from you soon!

We hope that everyone enjoyed a safe and Happy 4th of July weekend. Needless to say, summer is now in full swing, the crowds have arrived, and the humidity and heat are here too, with temperatures in the 90’s on a regular basis now.

June was a bit quieter than usual for shops and restaurants, and the temps remained quite cool until just recently. Sales activity slowed in June, as it normally does this time of year, with showings becoming increasingly difficult because the homes are now rented.

Our 1st half of 2016 was very strong for our personal sales figures, and we wound up ranking number 1 in the Duck market and number 3 in the overall MLS, which covers the entire Outer Banks!

The MLS statistics for the first half of 2016 look good.  Residential sales for single family homes are down by 5% for unit sales; however, the median price is up by 10%.  Sales for condos are up by 10% this year.  Residential inventory is down by 8%, a very good sign of market health.  Land sales are up by 6%,  and land inventory is down by 10%.  The best news is that distressed sales are down considerably.  Short sales are down by 58%, and bank owned sales are down by 31%.  Dare County recorded 78 foreclosures the first half of 2015 and only 67 for the first half of 2016.  We remain optimistic that things are on track for market recovery.

Some other news: We plan to be slightly restructuring our team. In order to better serve our clients, and to assist in the growth of our business and expansion of our territory, we will be offering more “personalized service,” which we believe will improve the way we work with clients. To make our services more efficient, clients will have a primary agent, and the other agent will take a supporting role. Because of the heavier workload we are experiencing, we need to eliminate or limit duplication and overlapping duties so that we can give every client as much time and attention as always.

Enjoy your summer and if you’re in Duck, please stop in and say hello!