Nov 4th Beach Rainbow
I saw this rainbow on the way to work this morning. You know it is going to be a good day when it starts out like this!
As expected the OBX real estate market was impacted by Hurricane Irene. Sales transactions were down a little over 13% from the day of the storm in August until the beginning of October. The largest segment affected was Hatteras Island. This was expected because NC 12 on Hatteras Island was impassible during this time period. Perhaps we’ll return to improved sales trend now that things are returning to normal. Here’s a link to this month’s detailed OBX Market report: http://r.b5z.net/i/u/10116302/f/marketindicatorsoct11.pdf
Great Nags Head Value
This house was just reduced today $30,000. Yes it needs a little work but it has a good ocean view, it is close to two beach accesses and you can walk to a couple restaurants for lunch or dinner. This one is a good value. Here’s a link to more details: http://obarmls.fnismls.com/publink/default.aspx?GUID=99d644e6-9991-480a-9f9d-bdb176d69c07&Report=Yes
We’ve just added a vacation rental calculator to our web site. This can help you determine the cost of owning a vacation home and if it is a best value for you. Here’s a link: http://scottrealtyobx.com/vacation_rental_analysis
Also here’s a link to a pretty good buy in South Nags Head that has most of the numbers needed in it so you can try out the rental analysis calculator with some real numbers.
http://obarmls.fnismls.com/publink/default.aspx?GUID=eee10e03-2974-4cef-be28-0d1a09b471d4&Report=Yes
Hurricane Irene impacted sales last month. Page 3 of the report shows a significant reduction in sales agreements compared to August of 2010. Despite this bad weather event, there was still plenty of good news to report.
See the report here: http://r.b5z.net/i/u/10116302/f/marketindicatorssept11.pdf
See back reports here: http://scottrealtyobx.com/market_info
This house has been on the market a while and was just reduced. It is not my listing but I think it is a real sleeper. It has great ocean views and the access is just one lot away. It is also close to the Wright Memorial Bridge so if you are coming from Hampton Roads it would be a great weekend spot. The negative about it is it needs a ton of updating. The bones are good but the rest is old. If you can make repairs yourself this one is probably worth a look. Here’s a link to the detailed info: http://obarmls.fnismls.com/publink/default.aspx?GUID=1b1365ef-50db-444e-ae1f-ee952d9b0a5d&Report=Yes
Hurricane Irene hit some areas of the Outer Banks worse than others on August 29. The northern beaches from Nags Head to Corolla fared relatively well while the sounds side areas and Hatteras Island suffered some signficant damage. Here’s a page showing some before and after pictures as well as a few soundside pictures: http://scottrealtyobx.com/hurricane_irene
We have a few more weeks to go before the hurricane season begins to really wind down. Hopefully this is the worst of it for this year.
This is near the end of Sportsman's Drive in Kill Devil Hills
Today locals are preparing for Hurricane Irene. At this moment, it looks like we might have a chance to see the eye early Sunday morning. We’re hoping for a more easterly track. I’ve completed our latest newsletter and wanted to post on it before going into preparation mode. Here’s a link to the newsletter: http://r.b5z.net/i/u/10116302/f/vol_8_iss_2.pdf and here’s a link to our newsletter archive: http://scottrealtyobx.com/carolina_review
If things work right then I plan on taking some before and after shots of this hurricane and posting them. Stay tuned for that.
This is not my listing but it is a great price for the location and size. This house has a good sized game room, ocean views, four bedrooms and is in a nice location right near the Seascape Golf Course. For the most part the house is clean and needs just a little TLC. At this price, this is a great value for someone looking for a second home and is not too concerned about rentals. Here’s a link to more details: http://obarmls.fnismls.com/publink/default.aspx?GUID=f57db17d-d3a9-48bb-968a-6ffb9404db7e&Report=Yes
It looks like sales are steady for this usually slower time of year (folks focus on vacation in summer and usually buy in the spring and fall). Sales activity is 5% above this time last year. Local Realtors expect more of the same for the rest of this year. Here’s this month’s market report: http://r.b5z.net/i/u/10116302/f/marketindicatorsaug11.pdf
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