My New Blog

Good news - one step closer to the Corolla Bridge.  The final environmental impact statement is out and things are moving forward for a contraction beginning late this year.  For up to date info go to :

http://www.ncdot.gov/projects/midcurrituckbridge/

Hope it continues to move forward as scheduled!

Carol

Hi everyone,

The OBX is recovering nicely from post -Irene - Hatteras Island is fully open with a new temporary bridge and the weather is absolutely beautiful. The fishing is great and there are fall festivals everywhere.

The 1st 9 months of sales were relatively unchanged from 2010 with one exception - sales of short sales are up 32% and sales of bank owned properties are down 15%. THe inventory is down 16% from 2010 ( 2132 to 1784)housing units on the market. Sales prices came down 6% on average from early 2010 - a bit more on condos. Many of the sales continue to be cash but loans are still available for those lucky enough to have a nice down payment and great credit scores.

Come see me this fall and take advantage of those great interest rates!

Carol

Hi Everyone,

It has been a very wet last couple weeks and many folks here are still recovering from Hurricane Irene. All our Restaurants and shops are open now though and some of our best weather is coming in October and November.  The ocean is still in the 70's and homes are priced well below the 2006 peaks.

Come join us for the Parade of Homes coming up from October 6th to 9th or pick another time to just sit and relax on the beach - let me know if you want to take a look at some of what the OBX has to offer.

Carol

Hi Everyone,

Hope all are safe, dry and have power this morning. The sound side of the island, Town and Duck and Hatteras Island took the worst hits here.  Visitors are being allowed in starting noon today - except for those areas. Not all homes and hotels have been checked and cleaned yet and many pools are still covered with trees and debris - please call your hotel or rental manager before you come and make sure that you have a place to stay.

Other than some yard tree branches, my family was very lucky.  Give me a call or email if you are coming to look at homes - some may not be available for a little while and I will need to make some calls a day or 2 ahead to schedule the visits.

Best to you all and stay safe,

Carol

Hi everyone,

I sincerely hope you had a great Memorial Day weekend.

The start of the busy season here brings several pieces of good news:

First of all, beach nourishment has begun in Nags Head and will continue thruout the summer into early fall. It should only affect a particular area for a day or two. Due to our off-season storms, it needs to be done during the summer - if you need specific dates for a particular beach area, please go to the Town of Nags Head web site.

Secondly, the gap funding for the mid-Currituck bridge that was missing and putting the bridge in jeopardy, has been restored - hopefully this means it can finally be started soon!

Lastly, the idea of tolls to Ocracoke on the ferrys have been removed from the NC Senate budget - looks like it will still be free.

Activity seems to be increasing for looking at Real Estate here and foreclosures are definitely decreasing. Prices seem to have leveled off and the asking prices are much closer to the selling prices now.

Please call or email me anytime with questiobs or if you are coming down for a visit.

Best,

Carol 

Hi everyone,

The market didn't change too much last month except that the inventory available has gone down and the distressed properties have gone down to 37% of the sales from 41% earlier this year. Many folks seem to be taking advantage of the great interest rates. The average price has actually gone up in a few areas. 85% of the sales remain under 400,000 - this is down from almost 100% last year.

It's not too late to take advantage of most of the rental season - keep in mind that homes are very difficult to see during the summer ( usually only on turnover day from 10 - 3)

Congratulations to all that already found a great place here at the beach -

On a personal note, the Hayhoe family has lost both of their Huskies, Juneau and Kodiak, in the last 6 months, but our lives have been blessed with our granddaughter, Noelle. We will soon be blessed with another grandchild and hopefully a new Husky puppy.

Hope all are well - please give me a call or drop me a line and let me know how you are doing.

Carol and Mike

Hi -

Sorry to have been so long - a busy spring.

March sales here have actually been the highest since 2006 - 34% higher. Distressed properties ( foreclosures and short sales) are still taking up 41% of the sales market. Prices have still been coming down, though only slightly now. Inventory is also down - something else that may show a turn in prices since they are partly driven by supply and demand. Most sales have been below the 400,000 price range with the median single family home in all the OBX at 307,000 - though still higher (530,000) in the Corolla area.

Great rentals are available in the 300's now. Interrest rates continue some of the best ever and that is continuing to help fuel the market.

It's a great time to visit the Outer Banks with less crowds and warm temperatures - and there's still time to pick up those rental incomes. Rentals are on a record pace.

Hope you can come visit soon!

Carol

Hi Folks,

The market continues a little upbeat here in the Outer Banks with a few more folks throwing themselves into things.  Still heavy percentage of cash buyers, but loans seem to be available for buyer's with great credit and reserves.

Of the 1879 homes on the market in January, 86 went to closing. Price sold averages in the 92-93% of the asking price - closer now because prices have already come down on most of the sold homes and the sellers are finally admitting that their places are no longer worth as much as they thought. Average Days on the market are 275, but desirable listings priced right can go in just a few days.

As always, let me know if I can help in any way and contact me with questions.

Stay warm and dry!

Carol