Helping People Buy And Sell Outer Banks Real Estate
Search Outer Banks, NC real estate and homes for sale from Corolla and Duck to Southern Shores and Kitty Hawk including Nags Head and Kill Devil Hills plus Colington, the town of Manteo and Hatteras Island.
Whether you are looking for a rental house or a home to live in, it's all here plus the information needed to choose the right realty team, including advice for sellers and buyers and the contact information for the local schools, lenders, attorneys, home inspectors and all of the local vendors.
IS IT A BUYER'S MARKET ??
That's what agents without buyers are saying.
You tell me.
TOTAL SOLD RESIDENTIAL UNITS
Outer Banks NC Association of REALTORS MLS
- 2007 Median Price $365,000 - Total Units Sold 1,226
- 2006 Median Price $395,000 - Total Units Sold 1,235
- 2005 Median Price $427,000 - Total Units Sold 2,082
- 2004 Median Price $386,000 - Total Units Sold 2,348
- 2003 Median Price $325,000 - Total Units Sold 1,952
2007 experienced 1,226 residential sales and there are another 167 under contract as of 1/24/08 and ready to close in the next few weeks. In addition there were 338 lots sold and/or under contract which means there are 1,731 buyers who think now is a good time to buy real estate here on the Outer Banks of North Carolina. And why wouldn't they think so. Interest rates can't get much better than they are right now. Inventory is at an all time high so there is plenty to look at and there is no pressure to buy right away.
The reason that there is so much inventory available is because there were a lot of sellers who were waiting for the prices to reach the peak before selling. Now that prices have peaked they are ready to sell and have flooded the market. Some are unrealistically overpriced and some are priced to sell.
With a lot of sellers eager to take advantage of today's prices, it means shopping for real estate just got easier. There are more houses for buyers to choose from which means sellers will have to fix things that they wouldn't fix 2 years ago and buyers can shop for the perfect home without the fear of losing it to someone else.
For the last 17 years, the spring has always been our busiest season on the Outer Banks while the fall months are a close second. Surprisingly, the summer is the slowest season for real estate sales.
Let us set you up with a map and a list of properties that are for sale and then you can leisurely drive around and see if there is anything that might interest you. It is also a good way to learn the different neighborhoods. After all, the Outer Banks does cover an 80 mile skinny stretch of northeastern NC.
Spring Season
Traditionally, spring is the busiest time of the year for real estate sales on the Outer Banks. This is the time to start thinking about getting done what you want to do before the summer influx of tourists. Soon there will be renters checking in and looking at rental houses will be restricted to the 4 hour time frame between check out and check in on Saturday and Sunday only. A lot of rental companies won't let us look at houses when it is occupied by a vacationer. Weekday showings stop in late June. Beating the crowd means you will be able to achieve your goal without traffic denying you the opportunity to see everything before you make a decision.
Spring is also the time to get your foot in the door and have all of the prepaid rental reservation money refunded to you at closing. Learn more about how to collect a RENTAL REBATE. Start shopping now for that rental house and buy it in the late spring. You will get the advanced rental money that the seller has been collecting right before the rest of the money starts coming in. So you get a check at closing and once a month for the next 3-5 months.
To protect our buyers we are now providing a 1 year home warranty on all homes and condos purchased through us.
Receive automatic email updates when new homes come up for sale.
Errors and Omissions Insurance
We have it, does your agent? It is hard to believe some realty companies do not have it. Don't purchase your home or land from an agent who does not have it. One more reason why our clients keep coming back.
1031 REALTY EXCHANGE
Avoid the capital gains tax and the 25% depreciation recapture tax by utilizing the IRS code 1031 Tax Deferred (Starker) Exchange. Swap investment land, condos or homes for any kind of investment property within 6 months. Call Greg for details.
Contrary to what many people think, it DOES NOT COST ANYTHING to have an agent work for you in North Carolina. We get paid by commission from the sale. All of the sellers in the Outer Banks Association of REALTORS MLS have agreed to pay that commission to us, regardless of what company has the property for sale. This is what you can expect:
- We will not make you sign any commitment, long term or short.
- NC Buyer Agency DOES NOT require a contract.
- If you find yourself only looking at houses with your agent’s company’s signs, be careful. Chances are that agent is not working for you.
- We will show you only properties that fit your requirements. There are over 4000 different pieces of real estate for sale on the Outer Banks right now. One of them is just right for you.
- We will use our MLS computer capabilities to search for all of the properties that fit your needs.
- We will provide you with information about the SOLD houses that are comparable to what you are considering. How else can you decide how much to offer?
- We will negotiate on your behalf to get the best possible price.
Questions about selling? Don't listen to the doom and gloom stories that are going around. Once you understand how the absorption rate affects sales and see what advertising we provide and where we will put your property on the internet, you will see that now is still a good time for sellers even if you are selling out of state.
Just curious? Sign up to find out Your Home's Value, complimentary of course.
Thinking about selling your property yourself? Be the first to list your property on my new complimentary For Sale By Owner page and be sure to watch out for sneaky agents.
Helping you buy or sell real estate on the Outer Banks of NC.
Search All Outer Banks Real Estate For Sale
Outer Banks Area Info
The Outer Banks of NC is a long thin string of barrier islands on the coast of north eastern North Carolina. At the very northern most reach in Currituck County is the town of Corolla, a quaint fishing village surrounded by luxury rental homes and home to the Currituck Lighthouse.
Traveling south, the next town is Duck in Dare County. It is named after the migrating flocks of ducks that spend the winter there. The village is now the place to go for a casual shopping experience. The surrounding houses afford vacationers choices ranging from modest to upscale.
Moving on, the next town is Southern Shores. Mostly made up of permanent residents, with a few rental properties, this is one of the more upscale of the year round residential neighborhoods.
Next you will find the town of Kitty Hawk with a mixture of year round residents and vacation homes. The Wright bothers stayed in Kitty Hawk when they were developing their flying machine. They actually made their first flight in what is now called Kill Devil Hills.
Kill Devil Hills is the center of commercial activity on the Outer Banks. Here you will find most of the motels, restaurants and shopping centers. It is also home to the largest population of year round residents on the Outer Banks.
In between Kill Devil Hills and the mainland is Colington Island and the canal front community of Colington Harbour.
Next is the town of Nags Head, one of the oldest areas on the Outer Banks. The birth of vacationing on the Outer Banks started in Nags Head before the Civil War as farmers would bring their families here for the summer to escape the heat and enjoy the ocean breezes.
In between Nags Head and the mainland is Roanoke Island with the towns of Manteo and Wanchese.
Cross over Oregon Inlet and you will be on Hatteras Island. The first communities that you will find are the combined villages of Rodanthe, Waves and Salvo. Blink and you might miss one of these villages. Next comes Avon and then Buxton, Frisco and Hatteras Village at the tip of Hatteras Island. This is where you catch the free ferry to Ocracoke Island.
THE INTERNET IS NOT AN AGENT
This web site is a good place to start looking for real estate. It is not a substitute for a good real estate agent. The internet is an information gathering tool that is only as accurate as the questions being asked. This is where an experienced real estate agent comes in. We know what to ask about and what to look for to protect you and your investment.
The OBX has a lot of wet lands and small lots. Combine that with private septic systems and restrictive lot coverage regulations and you will find a number of non-conforming properties.
The latest trend is to add an in-ground pool to a rental house. Some properties will hold a pool and some will not. It has to be determined on a house by house situation.
FEMA recently changed some rules regulating flood designations so now some houses are having a hard time getting reasonable flood insurance.
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