News Letter

March 2023 Real Estate News Letter

What do you call the place where leprechauns go to relax? A lepre-condo.

With March finally here, it’s difficult to resist the opportunity to sneak in an Irish joke. This month marks the start of spring and longer daylight hours. Although it’s still unpredictable and challenging, March is nevertheless full of possibilities. It’s an excellent time to consider preparing your house for the upcoming season. Whether you’re eager for the chance to soak up the warmer weather, start a new project, or even sell your home, we hope this season brings you all you’ve been hoping for! For those of you who are Irish, or pretend to be for the day, Happy St. Patrick’s Day!

We are excited to announce that our new Duck office officially opened its doors late last month! Our grand opening was a huge success, and we’d like to thank everyone who came out to show their support. If you’re in the neighborhood, please stop by to see the new office and say hello. We are located at 1176 Duck Rd, just north of Aqua Restaurant and Spa.

Two very noteworthy developments occurred in February. The first was a court decision in NCDOT’s favor, which has further advanced the planning process for the Mid- Currituck Bridge. Organizations opposed to the bridge include a nonprofit environmental advocacy organization named the Southern Environmental Law Center, the NC Wildlife Federation, as well as the No Mid-Currituck Bridge Org. All have filed a lawsuit in an attempt to thwart its construction.

The allegations in the lawsuit stated that the North Carolina Department of Transportation disregarded the National Environmental Policy Act’s regulations when the bridge project was permitted. The district court disagreed with the plaintiffs’ findings despite their arguments and ruled against them. Following the court’s decision, a spokesman declared that they would keep pressing to stop North Carolina from squandering money on the bridge and endangering the Currituck Sound.

After a thorough three-year analysis of the shoreline, Currituck County is in a critical position regarding how to mitigate beach erosion and generate the resources needed. The study indicated that more than 150 houses would be affected over the next 30 years without considering potential hurricanes or other weather-related damage. The county commissioner referred to Kitty Hawk and its inevitable vulnerabilities, voicing his motivation for Currituck County to avoid a similar outcome for its beaches. The report highlighted potential next steps, including the need for a beach management plan. The commissioner acknowledged that they are working on that recommendation and agreed that enhancing the beach by nourishment is probable. They have hired a lobbying firm to assist them and other coastal communities by urging the state to provide guidance and support. This study served as a powerful wake-up call to take action sooner than later.

In real estate news, the positive momentum that began in January did not last throughout all of February. There was a flurry of activity at the beginning of the month, but it simmered down halfway through. Although there are still buyers looking, we’ve noticed that inquiries and showing requests are a bit lower than normal for this time of year. We will continue monitoring the situation in the coming weeks to better understand how our local market is adjusting. We could be at another tipping point, but we’ll have to wait and see how the next few months unfold.

If you’ve been thinking of selling, are looking to purchase, or have friends/family interested, please don’t hesitate to reach out, as we can send a free market analysis for your property and also add prospective buyers to the auto-email notifications for specific types of properties here at the beach. If you’re not able to visit in person, we offer virtual showings and are more than happy to preview a home for you and send some notes.

Please don’t hesitate to call or email us if you have any questions or should you need anything at all.