We hope everyone is enjoying their fall! Things have calmed down quite a bit since last month’s scare with Dorian. As of the beginning of October, schools in Ocracoke have opened back up, demonstrating how hard people will work to get back to their daily routines and show their true grit during tough times. We are grateful to live in a strong community that shows such a strong will to go above and beyond the measures of being a great neighbor. We thank all of the restaurants, local businesses, and all members of the area who quickly offered to help with donating their time, money, and their hands to help those affected by Dorian. If you didn’t have a chance and wanted to donate there are still ways to offer help. Please feel free to email or call The OBX Homes Team to find out how, and we will be glad to guide you in the right direction.

For many “Outer Bankers,” fall is the perfect time to take advantage of the weather and the after-season charm from the busy summer season. Local events such as the Duck Jazz Festival, The Parade of Homes, The Outer Banks Seafood Festival, and the entertaining BrewTag offers great opportunities to invite potential buyers/investors to the area to seal the deal before the winter and holiday season. Some of these events will be donating part of their proceeds to victims of Hurricane Dorian. What more incentive could anyone need to come enjoy a fun-filled day or weekend and help a good charitable cause?

In real estate news, the Fed cut interest rates last month, which could cause concern for the future of the economy and the confidence some might have about their own personal finances. This may impact other real estate markets unfavorably, but we often remind our clients that our area is unique, and often times we see positive returns in some unsettling news about the economy. For example, some investors might turn to real estate instead of the stock market to decrease their risks. Savvy buyers will take advantage of the lower rates and use that as a tool to increase their maximum price point. At the same time, sellers who are competing with more inventory this year could potentially notice an uptick in buyers requesting to see and offer on their property, as the rate cut makes properties more affordable. The OBX Homes Team has not noticed any red flags for concern, judging by the number of clients and other agents requesting to show properties.

We’ve included the OBAR statistics for September* 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 an email each month with a copy of our 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

Is it fall yet? September is considered by many as a reward for enduring the heat and crowds of the summer months. The pleasant weather and less traffic in the fall are two of the main reasons why many locals choose to live on the Outer Banks year-round. Unfortunately, the old adage “be careful what you wish for” is something we were quickly reminded of right around Labor Day Weekend. Just before the end of August, the weather forecasters mentioned the dreaded word “hurricane,” and our focus quickly shifted from looking forward to cooler temps to praying for the hurricane to turn out to the Atlantic. Everyone paid close attention to Hurricane Dorian which had an unusual and destructive path up the entire southeast coast. The northern parts of the Outer Banks had several areas of flooding and wind damage, but gratefully we did not endure the devastation Dorian caused in other areas. Our hearts are heavy for everyone affected by Hurricane Dorian, and they are in our thoughts and prayers. If your property had damage from the storm and you need help finding someone to repair it, please feel free to contact us for suggestions on local handyman or contractors who can help. If you are interested in helping those who were deeply affected by the storm, please see the list below provided by the Outer Banks Voice. Every little bit will go a long way with those who lost everything.

In real estate news, the market was basically on hold for a few weeks until the storm passed. Many closings were delayed and due diligence extensions were requested by lenders and future buyers so they could wait to see what happened. Prior to this storm, the statistics report from July mentioned the number of homes under contract was the highest since 2013, and then in August, the report revealed the highest number of sales since 2004. Unfortunately, there is a strong chance the closings scheduled for September might not be as high as the statistics report predicts. We hope this is not the case, but it is a likely possibility.

We’ve included the OBAR statistics for August* 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 at 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

The Outer Banks Community Foundation is coordinating monetary donations, which are of great help to those in need. All donations are tax-deductible and 100%
of all donations will be used to directly assist individuals and families in need. Donations can be made online at obcf.org/disaster or www.obxdisaster.org.
For those wishing to assist in the recovery in hard-hit Ocracoke, Hyde County officials say you can contact the following organizations to coordinate your efforts:
Donation Management: 833-543-3248, Volunteer Management: 252-305-2685

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

We hope everyone had an enjoyable Memorial Day weekend!  The weather along the Outer Banks for the holiday was close to perfect, and both tourists and locals were full of good spirits. The 2019 summer season has officially begun, and the OBX Homes Team would like to wish everyone a great summer season!

April reminded us of why the Wright Brothers came to the Outer Banks to test their aircraft invention.  The winds were strong and consistent, but the sun did come out to warm things up!   The  OBX Homes Team was booked the entire month with showing properties to prospective buyers, helping several clients get their properties under contract, lining up showings with other agents on our listings, and successfully getting seven new houses up and running on the MLS.  The real estate market is flourishing along with the tulips and daffodils this year.

Our annual Twiddy Homeowner’s Day was a great success!  Despite the unfavorable weather, many homeowners and the Twiddy gang enjoyed a great day together!

Phase 2 of the Duck sidewalk project has been moving along. The target completion date for this is for the end of May, which is great news for the summer season!

The town of Nags Head has started their second round of beach nourishment program.  The first nourishment was completed in 2011, and was extremely helpful in saving the beaches and properties close by from many nor’easters and hurricanes that came through in the last few years. We are thankful for our state’s recognizing the need for this as means of protecting our little piece of paradise.

A hot topic along the Outer Banks is occupancy control for rental homes.   For some quick background information, in 2015, North Carolina passed a statewide law that prohibits towns from restricting the number of bedrooms that can be included in a house being built or remodeled. This kept local authorities from being able to control the occupancy levels to some extent.  Towns are now resorting to other ways to prevent people from building rental machines.  Duck recently placed a limit for the square feet of the structure that can be built according to the lot size.  Last month Southern Shores hopped on the train to fight the “no mini hotels” issue, and “settled” on a temporary agreement that limits the septic capacity to 14 people under a new term they refer to as “vacation cottage.”   Placing limitations on how people use properties is a tough subject, one we are paying close attention to since it impacts our real estate clients on all ends.  We will try to keep our clients informed on any upcoming policy changes that could significantly impact property values.

In real estate news, properties for sale continue to come onto the market in greater numbers compared  to the past few years causing current asking prices to be lower.  In previous years the sellers had the advantage of aggressively pricing their homes, and not having much competition.  Recently, however, we’ve  noticed that though properties priced to sell have been moving rather quickly, sellers wanting to “test the waters” and start higher usually results in having to lower prices.  A unique consideration for sellers in our market is the rental income produced by their properties.  As we enter the rental season sellers hold more strongly to their asking prices because that rental income belongs to the buyer after settlement takes place.

We’ve included the OBAR statistics for April for your review, but 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, 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 don’t hesitate to call or email with any questions, or if you need anything.

The OBX Homes Team