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Housing sales are up and prices are down. This, of course is due to the foreclosures and short sales on the market.

In 2008, the average sold price from Kitty Hawk to Nags Head was 315,000 - this is down to 260,000 this year.  In Corolla in 08 the average sold price was 610,000 - down to 520,000 this year.

In other words - It continues to be a great time to buy- houses are becoming very affordable here, and maybe not a great time to sell. If you need to sell, make sure your home is in the best condition possible for the best price possible. Some of you have found some fantastic deals here already.

If you are waiting for that perfect foreclosure, make sure you are prequalified or even better,preapproved. The homes with the really low prices are going fast to the buyers who are ready to make an offer.

All the best,

Carol

Hi everyone,

Just a reminder for anyone thinking of coming or for those who are lucky enough to be here already - this weekend is tax free weekend in NC - also in VA I believe.

Any clothing item under $100, computers etc under 3500 and school supplies qualify - combine it with some great sales and it's a sweet deal.

Also, put October 8th-11th on your calander. The OBX Parade of Homes is coming and it is always a beautiful weekend.  28 fantastic new and remodeled homes will be open with an opportunity to see all the new cool stuff that is out there. The decors will give you great ideas for your home and the nominal fee goes to a great charity - check out the site below.

Carol

http://obhomebuilders.org/

Hello,

Short sales from Corolla to Nags Head are up from 72 last week to 86 this week active on the market.  Foreclosures are steady at 20. Expect to see many of the short sale properties come on the market as foreclosures in the coming months.  Prices have decreased recently only slightly with the average 3/4 bedroom home in the area moving from 322 to 301, 000 since April.  There is still time to get a great deal here.  Get preapproved with your favorite lender and be ready to jump on a great house!

Have a wonderful weekend!

Carol