outer banks real estate update-january 2009 newsletter
DESCRIPTION
Get monthly updates on the Outer Banks real estate market and local news. Features include current market commentary, listings, local Outer Banks events and news.TRANSCRIPT
What Makes The Best Rental House
Rental Income has increased and tourist numbers continue to break records every year! Gas Prices are at 4yr lows! All of this has created the perfect storm for buying Outer Banks real estate!!! Buyers are coming back to the Outer Banks with a vengeance. Over the New Years holiday almost ever y Realtor on the Outer Banks was out showing property. I personally had 3 buyer clients in town over 4 days!! Prices are stabilizing!! Don’t miss this opportunity to get the best house for the best price at the lowest interest rate!!!
2008-It’s finally over!! I know for many of you, including myself, I could not wait for 2008 to be over. The stock market came crashing down, the real estate market continued it’s downward spiral and the economy just tanked. All in all 2008 will go down as one of the worst years in recent memory As for the Outer Banks real estate market things went from bad in 2007 to worse in 2008. It seems that foreclosures and short sales were everywhere on the Outer Banks, listings stayed on the market longer, and buyers just disappeared.
In 2008 according to OBAR, there were 1312 houses sold with an average days on market of 214 and the average sales price was $386,350. Let’s compare to 2005, 3201 houses sold, avg. days on market was 150, and the avg. sales price was $460,702. Enough of the doom and gloom!! Hello 2009!!! The one great thing that came out of 2008 was it set the stage for an incredible opportunity to buy an Outer Banks beach house in 2009. Prices on the Outer Banks are back to where they were in 2003-’04! Conventional mortgage rates are at an all time low, under 5%!
Outer Banks Real Estate Update
Matt Huband
PO Box 2223
Kitty Hawk, NC 27949
Office: 252-255-0221
Cell: 252-480-9283
Fax: 866-902-4479
Jan
Maximum
Temperature
51F
Minimum
Temperature
36F
Water
Temperature
49F
Precipitation 4.7 in
Wind 14 mph
Outer Banks Weather
Real Estate Update
JAN 2009 www.HometownOBX.com
All information in this newsletter is deemed reliable but not guaranteed.
500 FEET OR LESS TO THE BEACH MINIMUM OF 5 BEDROOMS, PREFERABLY 6 OR MORE HAVE ALL MASTER SUITES IF POSSIBLE WITH KING BEDS ELEVATOR PET FRIENDLY HEATED POOL HOT TUB GAME ROOM THEATER ROOM MULTIPLE APPLIANCES 2 KITCHEN AREAS IF POSSIBLE PROFESSIONAL DECOR WITH A THEME UP TO DATE ELECTRONICS, I.E. PLASMA TV'S, SURROUND SOUND Entry Level Rental Properties will not have all of the above. Regardless of what you want to spend on your investment, you want as many of these things as possible to make a GREAT rental property that will appreciate and increase your rental income each year! My job is to work within your financial situation to find the best possible home to meet your needs. This is done by gathering rental income histories, expense reports, and maintenance records. I can break down each house with a detailed spreadsheet on expenses and income to give you a realistic view of your monthly costs. In the rental market, buying the house that will cost you less in repairs will go a long way to making a successful income producer for you. On the Outer Banks there are plenty of awesome deals in every price range!!!
My clients always say they should have bought a beach house years ago. Don’t miss out on the best buyer’s market in years or a few years from now you will be saying the same thing!!
Outer Banks Upcoming Events
Local Outer Banks News
All information in this newsletter is deemed reliable but not guaranteed
Kitty Hawk Surfer Makes It Big!! Every surfer dreams of being pictured on the cover of
Surfer magazine, and Jesse Hines is one of them.
Recently, he was stoked to find out his dream had
been published.
An image of Hines getting barreled under an olive
green Gustav breaker on the Gulf Coast was featured
on front of the January 2009 issue of this top surf
magazine that covers the world-wide sport of riding
waves. It is the first issue that celebrates the maga-
zine's 50th year anniversary.
Check Out the Full Story Here
Jimmy Buffett's Outer Banks Trip Pt.1, 2, & 3
This is a follow up from last months newsletter
article about Jimmy Buffett’s visit to the Outer
Banks. It seems that Jimmy has now posted his own
account of the trip to the Outer Banks. You can read
all about his adventures on his website.
Jimmy Buffett Outer Banks Trip
Part 1,2,&3
Enjoy!!!
January 10 - 11
11th Annual Outer Banks Wedding Weekend and Expo First Flight High School. outerbanksweddingassoc.org
February 1 - February 27
32nd Annual Frank Stick Memorial Art Show Glen Eure’s Ghost Fleet Gallery, Nags Head. Includes a wide variety of local fine art rang-
ing from conceptual to realistic. Sculpture, painting, drawing, fiber, pottery and mixed me-dia. (252) 473-5558 or darearts.org
March 5 - 8
Taste of the Beach The Outer Banks Restaurant Association will host the Outer Banks “Taste of The Beach”
weekend event. The “Taste of the Beach” has enjoyed great success and was even named in the top ten Seafood and Wine Festivals in the nation by Coastal Living Magazine.
The weekend will be full of great food and drinks and fun activities; all taking place in the gorgeous OBX setting.
Some of the activities that will be offered for this event include: · Wine tastings,
· Cooking classes, · Special menu presentations,
· Guest chef appearances, · brewery tours, and more.
The event will conclude with a “Taste of The Beach” expo on Sunday at the Hilton Garden
Matt Huband
Current Listings
All information in this newsletter is deemed reliable but not guaranteed.
“The Exceptional Exception”
From Corolla to Hatteras
Outer Banks
Talk To A Lender
252-255-0221 Ext 2 [email protected]
www.HometownOBX.com
Call or email me today to set up your visit to the
Outer Banks and find your beach house!!
Call a lender today to see how affordable owning a beach house has become. In about 15 minuets you can get payment options and pre-qualified.
I recommend the following mortgage lenders:
Joey Barrow-Metrocities Mortgage 252-353-6400
Or 252-207-4439
Linda Barber-Wells Fargo
252-441-7610 Or
800-407-8746
Let Joey or Linda know that I gave you their name and they will take good care of you!!
Avon
6Bd/5 1/2 Bth
3500 Sq Ft
$850,000
MLS#57323
SHORT SALE!!
Corolla-Whalehead
6Bd/4Bth
2600 Sq Ft
$799,000
MLS#57454
3 Lots To Ocean
Price Reduced!!
Kitty Hawk
4Bd/2Bth
1437 Sq ft
$475,000
MLS#58645
Classic Ocean Front
Great Rental Income
Kill Devil Hills
3Bd/2Bth
1400 Sq Ft
$235,000
MLS#56506
SHORT SALE!!
Hatteras
5Bd/5 Bth plus 2 !/2 Bth
3100 Sq Ft
$599,000
MLS#54526
PRICE REDUCED SHORT SALE!!
Just Listed!! Corolla-Ocean Sands
5Bd/3Bth
2115 Sq Ft
$515,000
MLS#58836
Price Below Tax Value
Nags Head
Duplex with separate
entrances, 3 lots to
the beach!!
$950,000
Call for information
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