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
