January 2020 Real Estate News Letter

Happy 2020 everyone!! The OBX Homes Team finished 2019 with over 27 million in sales, the top producers at Twiddy & Company, in the top 5 agents on the OBX overall, and number one in residential Corolla sales!* What an awesome and fun-filled year we had! We want to give special thanks to you, our wonderful clients, for making it such a fantastic year.

Due to the storage needed with all our electronic files/documents now, we will be switching servers/emails for 2020 so we can better serve you! Our new emails will be [email protected][email protected], and [email protected] BUT even better…just email us at [email protected], and you’ll always get the quickest response, as all three of us will monitor that address. We will still be using Twiddy emails for as long as it takes for the transition to be complete.

We are happy to announce that the OBX Homes Team will be donating a portion of all 2020 sales commissions to the Outer Banks SPCA. In 2019, Heather, Ashley, and Mandi all welcomed fur babies into their homes! We are so grateful to the organizations and people who helped care for them and find their furever homes with us, so we’d really like to give back to our local animal welfare/rescues. We’ll be adding information on our website and emails that allows you to find out about the programs the SPCA offers such as taking a shelter dog for a walk, volunteering time, donating items, and even fostering a pet while you’re here in town.

We have a favor to ask of you. If you haven’t already, we would LOVE your reviews on Zillow and Realtor.com. It’s amazing how many new clients are finding us on these sites, and your reviews help tremendously.  You can visit each site and pull up Heather’s profile (search agents) to add a client review/rating. Thank you again to those of you who have written reviews for us! We truly appreciate it.

The December 2019 Statistics as well as the 2019 Year End Statistics are included, but please let us know if you’d like more specific sales information for your neighborhood.

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.

Thank you again for your loyalty and business over the years. We are so grateful and are looking forward to a wonderful 2020 ahead! As always, please do stop in to say hello if you’re here in Duck. Cheers!

The OBX Homes Team

Heather, Ashley, and Mandi

*Based on information from the Outer Banks Association of REALTORS® MLS for the period January 1 through December 31, 2019.

November 2019 Real Estate News Letter

What a great fall we are having!  The weather has been phenomenal, and the weekends have been bustling with fun events all month long.  There is no better season to be on the Outer Banks than fall!

A bit of fun news about Southern Shores, they recently surveyed about 400 community members about adding a library nearby, and an overwhelming 80% of the people polled voted in favor of it.  Ultimately, the final say is up to the commissioners; however, this could be an exciting addition to the town if they decide to move forward. Many communities in recent years have dealt with budget concerns, including library closures, but it is comforting to know many people still care about educational improvements in our community.

Currituck County has started its state-required reassessment of property for the county. This process will take several months to complete, and property owners will be notified of new appraised values about a year from now.  The new values will be what the county uses for taxing properties starting in 2021. If you feel the valuation is unjust, there will be an option to appeal. This is a North Carolina mandated law that is in place to ensure all taxpayers are treated fairly, and it takes place every 8 years.

Next year, homeowners along the Outer Banks and most of Eastern North Carolina should expect an increase of almost 10% to their annual policy.  Although this increase is not appealing, we should be grateful for the state regulators who were able to negotiate with the insurance companies and prevent them from imposing a 30% increase, which they had originally proposed.

In real estate news, inventory remains a little higher and interest rates are still very attractive creating an above-average seasonal upswing.  According to the MLS October statistics report* “Under contract listings are through the roof – up 41% over October 2018 AND the highest number since April 2015.” The upcoming weeks around Thanksgiving are traditionally strong for the local real estate market, and we hope this trend continues for the remainder of the year.  Our goal is to finish off this year as dynamic and productive as possible for a record-breaking year in sales.

We’ve included the OBAR statistics for October* 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.

All of us would like to wish you a very Happy Thanksgiving and holiday season to follow!

October 2019 Real Estate News Letter

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

September 2019 Real Estate News Letter

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

August 2019 Real Estate News Letter

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

July 2019 Real Estate News Letter

We are approaching the prime summer months, and it appears that our resort community is on par for another banner season. The weather hasn’t been perfect, but we will take the summer’s heat and afternoon thunderstorms over the winter’s nor’easters any day.  We can interpret these summer storms as a gentle reminder for us to slow down and enjoy our surroundings, even if it’s just for a few minutes. We hope that Mother Nature cooperates and doesn’t ruin any planned events for the upcoming holiday and planned vacations for many.

The OBX Homes Team would like to wish everyone a happy and safe 4th of July!

The month of June was an active month for area law-makers and enforcers.  At the end of May, a local Duck business owner got arrested for the attempt to access the beach by way of private access that is owned and maintained by a specific subdivision. The local business owner (who’s also a town resident) argued that since he pays taxes to the Town of Duck, he should have the right to access the public beaches.  Duck responded to the backlash by sending out a letter to homeowners, visitors, and posted it on their website.  The main objective of the Town’s statement declared the following: “Beach access locations in Duck, whether on easements or individual property parcels, are available to Duck residents, renters, and their guests through private accesses maintained by neighborhood homeowners’ associations (HOA).  These accesses are not available to the general public as they are not owned or maintained by the Town of Duck.”   Both the residents and the Town of Duck have sought legal counsel and will hopefully reach some agreement.  Discussions regarding this event have come to a halt over the last few weeks, but we expect to hear more in the upcoming months.  The OBX Homes Team is following this story closely and understands the issue can impact the real estate market directly for future and current homeowners.

The Town of Southern Shores just proposed another angle to combat their fight against the mini-hotel concern.  The town has tried several different ways to prevent larger homes from being built and becoming rental machines.  Recently, Southern Shores proposed an ordinance for residents and renters requiring a permit for any event or gathering at a private residence that totals more than 25 guests.  In addition to requiring the permit, each property would only be allowed to host a certain number of gatherings in a year.  This proposal is still under review and awaiting final approval, but it could pass as early as the next town council meeting scheduled for the beginning of July.

The Twiddy family has exciting news to report about one of the best local advocates in the real estate business.  Our very own Jeff Malarney has proven to be a substantial asset to the North Carolina Real Estate Commission and was just named the chairman of the board.  As many of you may know, Jeff Malarney is a powerful voice to have on our side.  Malarney has advised the OBX Homes Team – along with many other Twiddy clients – on many legal questions, and he’s known for going above and beyond the call of duty.  We are grateful for Jeff and excited about his new position as chairman of the board.

In real estate news, the local market indicates the usual seasonal decline is upon us.  The majority of the properties under contract from the spring have successfully closed, whereas the number of showing requests and offers on current listings has slowed quite a bit.  If the usual pattern stays par for the course, there should be no cause for concern.  In good news, the Feds have not raised the interest rates.  Lower interest rates should motivate buyers to search more actively during the summer season to take advantage of the current rates.

We’ve included the OBAR statistics for June 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.

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

June 2019 Real Estate News Letter

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!

In coastal news, Dare County was named the 2018 Best Restored Beach by the American Shore and Beach Preservation Association. This award applauds and recognizes the steps taken by Dare County to improve the condition of their beaches, and to recognize the importance of restoration of coastal areas.  In addition to restoring our beaches, local authorities have been fighting another issue which could greatly impact the nature of our beaches. Earlier in May, mayors of several Eastern North Carolina towns met to discuss concerns about offshore drilling and exploration for gas and oil.  The meeting concluded with the unanimous adoption of a resolution called “Coastal Leadership’s Resolution to Protect the Environmental and Economic Future of North Carolina’s Coast.” This a notable decision made by local officials to promise to protect our beaches from disasters that can be prevented.
There is some helpful news to report to anyone planning on traveling to and from the Outer Banks during the weekends this summer. The Currituck County Regional Airport recently announced plans for weekend flights to and from the airport to take place during the summer months starting May 18. The flights will originate from airports around the Pittsburgh, D.C., NYC, and Philadelphia areas and land at the Currituck airport. From there, connections to surrounding local airports like Pine Island, Manteo, Ocracoke, Frisco, or First Flight Airstrip will be available.  If you would like more information regarding the flights and times please visit www.ultimateairshuttle.com or call 1-800-437-3931.
In local financial matters, the proposed budget by Dare County does not increase the property taxes for the 2019/2020 fiscal year. This vote will take place after a public hearing and workshop in early June.  This is great news for both local and out-of-state homeowners considering the many big projects that have been taking place over the last few years. It’s impressive the county can continue to keep property taxes around 47 cents per $100 when the state average is almost 68 cents per $100.
In the world of real estate, business continues to remain steady without any indication of slowing down.  Typically, by this time of year, our market will incur a significant decrease in activity levels; however, this isn’t the case this year. We would love to think the market might not slow down at all during the next few months, but in truth that is very unlikely.  Due to the challenge of accommodating showings during rental weeks along with the heavy traffic during the weekends, most of the potential buyers tend to hold off on their search until the fall. If your house is currently on the market, don’t be discouraged. Sales do happen during the summer, but they are not as frequent as the spring, fall, and winter seasons.
We’ve included the OBAR statistics for May 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