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Outer Banks Real Estate Update

Matt Huband, SFR

PO Box 2223

Kitty Hawk, NC 27949

Office: 252-255-0221

Cell: 252-480-9283

Fax: 1-866-902-4479 ———————————

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Jan

Maximum

Temperature 51F

Minimum

Temperature 36F

Water

Temperature 49F

Precipitation 4.7In

Wind 14mph

Outer Banks Weather

Real Estate Update

JAN 2011 www.OBXRealtyGroup.com

All information in this newsletter is deemed reliable but not guaranteed.

OBX Real Estate

iPhone App now available!!!

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listings from your iPhone. It’s FREE!!

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2010 will go down as the year the Outer

Banks real estate market finally turned the

corner and ended a 5-yr downward cycle.

Compared to 2009 the number of property

sales increased 20%(the highest total since

2006), the number of active listings

decreased approx. 20% and the overall

average sold price was relatively

flat dropping just 2.7% from 2009. That is

not bad considering the 13% decline a year

ago. Since the Outer Banks market started

to decline in August of 2005 the overall

drop in average sold price has been 29%.

Mortgage rates have started to climb up

to 4.75% to 5% which is still an amazing

rate. They are projected to slowly inch up-

ward as the year goes on. While the na-

tional market continues to search for a bot-

tom the Outer Banks has turned the corner.

Great deals are still to be had and not just

in the distressed property market

(representing just 16% of active listings).

With that said I believe by the end of 2011

the Outer Banks market will turn Neutral

from the Buyer's market we have seen for

the last 4 years.

Rentals for the summer are already equaling

last years record pace. Most rental

managers expect the summer of 2011 to be

just as good as 2010. That is great news for

buyers looking for rental property. One

more thing it also means, don't wait until

the last minute to book your vacation!!

Now is the optimal time to purchase a beach

house on the Outer Banks. Buying now and

closing before May will give you the best

opportunity to earn 100% of this years rental

income while only paying for 75% of the

years expenses!! Better yet, if the house you

are buying has weeks already booked for

the summer you will get a check at closing

for the monies already collected. It’s a great

way to buy a beach house!!

A decade’s long effort to replace the deteriorating Herbert C. Bonner Bridge,

connecting Hatteras Island to the mainland, has won approval from the U. S.

Department of Interior. The approval announced Monday was a key victory for

Outer Banks residents who had been lobbying since the 1970s for replacement of

the Bonner Bridge, which they said was a disaster waiting to happen. But it was a

disappointment to environmentalists who saw a new bridge as both an

infringement of the Pea Island National Wildlife Refuge and an infrastructure

project built on shifting sands. Contracts could be finalized as early as late spring

or early summer for a bridge that state officials estimate will cost about $300

million and take three years to complete - assuming there are no snags in the final

negotiations or lawsuits.

Click Here to read more about the bridge replacement

Oregon Inlet Bridge Construction To Begin

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Outer Banks Upcoming Events

Local Outer Banks News

All information in this newsletter is deemed reliable but not guaranteed

New NC State Record Stripper Caught

For more information about Outer Banks events go to Outer Banks Visitors Bureau

Summer Rentals Booking Fast

Book your summer vacation on the Outer Banks

now so you don’t get left without a place to stay.

Last year rental houses and hotels on the Outer

Banks were completely booked from late July to

early August. So far the rental companies are

reporting that bookings for this year are on

target to reach last years numbers.

I can’t tell you how many calls I got from people in

June/July looking for a place to stay and nothing

was available. Get your week booked now!!

Click Here to search for houses to rent.

Sweetheart 8K

February 12

9 a.m. outerbanksrunningclub.org

OBX Taste of The Beach

March 17 - 20

Four days of food, drinks and fun. Presented by the Dare County Restaurant Association. This

grand food festival will feature wine tastings, cooking classes, special menu presentations, celebrity

guest chef appearances, brewery tours, tapas crawls and many more events with an exciting array

of creative combinations and culinary delights. obxtasteofthebeach.com

Kelly’s 22nd Annual St. Patrick’s Day Parade

March 20

Virginia Dare Trail/Beach Road, MP 11.5 - 10.5, Nags Head. 1 p.m. Rain or shine. The largest St.

Patrick’s Day Parade in NC travels the greenest mile in the Tarheel state. Over 1,500 participants

and approximately 10,000 spectators enjoy an afternoon filled with floats, live music, marching

bands and creative marching/walking/motorized units. kellysrestaurant.com

This 64lb monster was

caught on Jan. 5th

aboard the Poacher out

of Oregon Inlet. This

was the 2nd Stripper to

break the State Record

in just 48hrs. So far this

year the rock fishing has

been off the charts. As

one captain said “it has

not been this good in 4-

5yrs”.

Book your Stripper trip

before they are all gone

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All information in this newsletter is deemed reliable but not guaranteed

Nags Head, NC (January 21, 2011) -The 2011 Outer Banks Taste of the Beach Weekend

March 17-20, 2011

The Outer Banks Restaurant Association (OBRA) has been hosting the Taste of The Beach for over 25 years. With over 50 indi-

vidual events from Corolla to Manteo, the festival will feature wine tastings, cooking classes, special menu presentations, tapas

crawls, brewery tours and an exciting array of creative combinations of culinary delights and fun activities on the Outer Banks,

culminating with the OBX Grand Tasting on Sunday, March 20 at Pamlico Jack's Pirate Hideaway located on the Roanoke Sound

waterfront in Nags Head , North Carolina.

"The grand finale of Taste of the Beach, the OBX Grand Tasting will be the hottest ticket in town. From 5:30pm to 9pm, twenty or so of the best restaurants on the Outer Banks together with the largest beverage vendors under one roof to give you the experience of a lifetime," explains Ben Sproul, Chairman of the Outer Banks Restaurant Association. "Restaurants will be compet-ing for the 2nd Annual TOBY Awards, Best Booth, Best in Show, Best Outer Banks Cuisine, and the two top awards, the Chef and People's Choice Awards." The 2011 Taste of The Beach Weekend allows visiting and local foodies a chance to create a personalized itinerary of diverse culinary experiences and fun activities. A new calendar format, which participants have been ask-ing for, allows someone to go and see all the events at one time making it easier to plan their culinary adventure! There is also a direct link on the home page to the ticket center at obxtasteofthebeach.com.

The Outer Banks has over 170 area restaurants that are rich in diversity and quality, and depending upon one's culinary mood, diners can treat themselves to everything from the excellent local seafood to Italian, Mexican, Southwestern, French and more. Several members of the Outer Banks Hotel Motel Association & the Outer Banks Association of Realtors are offering special Taste of The Beach weekend rates and packages over the long event weekend March 17-20, 2011. For more information on the 2011 Taste of The Beach contact Quinn Capps, with Capps Webster Marketing & Design at 252.480.3337 or via email at

quinncapps@earthlink.net.

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All information in this newsletter is deemed reliable but not guaranteed.

Matt’s Outer Banks Favorites

Since the Outer Banks has received a lot of snow so far this winter I wanted to share some cool pics people have posted

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Current Listings

All information in this newsletter is deemed reliable but not guaranteed.

Matt Huband, SFR-Broker/Owner 252-255-0221

OBXRealtors@gmail.com www.OBXRealtyGroup.com

Call or email me today to set up your visit to the

Outer Banks and find your beach house!!

Nags Head

Duplex with separate

entrances, 3 lots to

the beach!!

$700,000

Call for information Click On

The Pictures

For More

Nags Head-Westside

3Bd/2Bth

Great Fixer Upper w/

pool, close to beach

$193,000

MLS#63983

Priced Below Tax

Southern Shores

4Bd/3 1/2Bth

Walk to Beach

Pool, Great Rentals

$545,000

MLS#67962

Duck Oceanfront

3Bd/2Bth

Condo, Oceanfront

Pool, Great Rentals

MLS#67396

$375,000

Kill Devil Hills

2Bd/1Bth

Walk to Beach

Close to Everything

$115,000

MLS#68159

Duck Oceanside

3Bd/2Bth

Walk To beach,

shopping, Bike Path

$425,000

MLS#68587

$35,000+ in Rentals

Kitty Hawk

5Bd/4.5Bth

1 Lot Oceanfront

Ocean Views

$66,000 In Rentals

$775,000

MLS#68460