Archives for February 2014

How to buy a Vacation Home on the Outer Banks when You Live Out of State

After spending any time on the Outer Banks, the next step may be BUYING your vacation spot on the Outer Banks. Q. What if you don’t live on the Outer Banks or live out of state, and want to buy a home here? Buying a home when you’re out of area can be extremely stressful - what areas/beaches work better for you? What laws and rules do you need to keep in mind? How on earth do you find the homes for sale on the Outer Banks? A. Hire a “Buyer’s Agent”! Buyers agents represent only the buyer in a purchase transaction and the agent has a fiduciary duty to the buyer represented. When you are … [Read more...]

Outer Banks Real Estate Market Stats for January 2014

The Outer Banks Association of REALTORS(R) recently released the market figures for the first month of 2014. The Outer Banks real estate market is looking better and looks like the trend is upward!!Sales – Looking over the last 3 years, the trend for overall sales is in the positive direction with Lot Land sales providing the most impact to the overall sales growth. When looking at the data over a two year period, lot / land sales have increased by 12% while residential sales have been steady with less than .06% change.Sales Price – The good news here is that over the last two years … [Read more...]

6 things you don’t want to do after you apply for a mortgage

Once your offer has been accepted and you are in the process of qualifying for your mortgage on the Outer Banks, there are things you don’t do.Period. Nada. No. Nope. Never Never Ever EVER do.Ever. Doing these things could STOP you for buying a home in on the Outer Banks:  Don’t make large purchases.  When you are buying a home you are going to be bringing in new debt.  However, after applying for a home don’t go out and buy a new car or furniture, this could raise you debt ratio and make it riskier for the loan company to lend to you.  Sometimes after doing this, the … [Read more...]