News, News Letter

January 2016 Recap

We hope that 2016 is off to a wonderful start for you and your family.   After spending much of the holiday season in shorts and T-Shirts, January finally brought the arctic blast we knew was looming.  We even had a slight dusting of snow mid January.  
 
If you find yourself in Corolla in the coming months you will notice the  pedestrian path along highway 12 is coming along very nicely.  For those of you that enjoy active visits to the northern Outer Banks, Corolla Adventure Park has gotten approval to add a high ropes course which will be similar to the one that is currently located in Nags Head.    
 
In real estate news, 2016 seems to be off to a great start for us.  We are busy working with buyer clients, taking new listings, and negotiating offers.  Interest rates remain historically low, and inventory continues to decline.  Unit sales were up by 9% in January, and total volume was up by 36%.  Single family homes sales were up by 11% compared to January of 2015.  Land sales remain flat, but we believe this is due to decreased inventory, as construction is booming.  Inventory continues to decline on all fronts while distressed property sales are half of what they were this time last year.  We are more optimistic than ever.    As always, we will keep you posted and we hope to see you in Duck soon!
 
News, News Letter

December 2015 Recap

Happy New Year!  We spent the holidays on the Outer Banks with temperatures in the 70s, more conducive to beach going than to celebrating the holidays.  The pleasant weather brought lots of crowds.  Most local restaurants required a wait to be seated for dinner, and stores and roads were busy too. 
 
Currituck County is starting construction of the three-mile-long extension to the multi-use path this week.  The new portion of the path will start in Ocean Sands and continue up to Monteray Plaza where it will connect to the existing path.  Completion is scheduled for mid May. 
 
The Tall Pine Bridge project in Southern Shores is moving a little slower than expected.  The old bridge has yet to be removed to make way for new construction to begin.  It is looking like Dogwood Trail may be closed into our summer season, but we are hoping for the best. 
In keeping with our New Year’s resolution to try to save some trees, we are making our full monthly newsletter available at www.obxhomes.com, and if you send your email to [email protected], we will email you a link when it’s ready for viewing If you prefer a paper mailing, however, just let us know.
Hope to see you on the beach sometime in 2016!
News

October 2015 Recap

The month of October was exceptional along the Outer Banks. Fall has become very popular for visitors, and we saw tremendous turn-outs for the Parade of Homes, The Duck Jazz Festival, and the Seafood Festival. The weather cooperated, and we continue to enjoy mild fall temperatures.

With the rental season at a close, we are now in home repair season. If you find that your place needs some work don’t hesitate to ask us whom we recommend. We are always happy to help.

In national real estate news, the months of September and October saw a decline in pending home sales. Locally, however, the trend towards an improving market continues. Many buyers are acting now to take full advantage of low rates and more affordable prices. Along the Outer Banks residential sales are up by 12% this year, while total sales have jumped up by 56%! We continue to see decreased inventory, and we are more optimistic than ever.

As always, we hope all is well and that the upcoming holiday season will be an enjoyable one for you and your family.

News

September 2015 Recap

The Outer Banks, along with the entire Eastern Seaboard, is breathing a sigh of relief as Hurricane Joaquin is passing to the East.  After more than a week of very heavy rain from a stalled front, the last thing we needed was a hurricane.   

In real estate news, the forecast is looking great!  Residential sales are up by 13% for the year thus far, and land sales are also on the rise.  Land is selling for 15% more this year, and residential values are also showing a 5% increase.  Distressed property inventory is now decreased by 52%!  Both residential and land inventory are also down.   

Please note that Dogwood Trail is now closed for the replacement of the Tall Pine Bridge.  This is going to take 6 to 9 months to complete.    

We hope to be seeing a lot of you in the coming months. After the busy rental season has wound down, you can enjoy the best time to be here! Mark your calendars for the Duck Jazz Festival on October 11th and the Outer Banks Seafood Festival on October 17th.  Have a great October!