Archives for December 2013

Now that Santa has come and gone, is the Tax Man far behind?

2013 is coming to a close and between throwing out the wrapping paper and finishing off the turkey; you may want to prepare for tax time before ringing in 2014. If you have sold your home this year, there are a few items you will want to make sure to collect before tax prep: Property Taxes: Any taxes paid (reimbursed or paid ahead) at closing will show up on the HUD-1 statement and may be able for deductions on your taxes. Mortgage Points paid: Any points paid at closing may be able to be deducted, even if the seller “paid” for them at closing. PMI: Any Private Mortgage … [Read more...]

Happy Holidays!!

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November Outer Banks Real Estate Market

November 2013 MLS Statistical Report Summary – In November, a REALTOR®Magazine article - Short Sales Lose Favor With Lenders? - reports that the number of short sales has been gradually dropping and that short sales were down across the nation - 11.2% from one year ago and 5.3% from the previous month. When you look at the OBAR statistics for November you will find that short sales on the Outer Banks are following, if not exceeding, this trend. Year to Year Short sales are down 26%. Foreclosure sales have also declined – down by 19%. Sales - After a brief surge in September and October, … [Read more...]

What Now for Outer Banks Homeowners Impacted by Flood Insurance Premiums?

National Association of Realtors® Demand Immediate Relief for Homeowners Impacted by Unforeseen and Exponential Increases in Flood Insurance Premiums  This is an News Release from the National Association of REALTORS(R) - Media Contact: Jenny Werwa / 202-383-1193 WASHINGTON – Homeowners across the country should not be forced to pay for the sudden and dramatic flood insurance premium increases that are the unintended consequence of the Biggert-Waters Flood Insurance Reform Act of 2012, insisted the National Association of Realtors® today in testimony before the U.S. House Financial … [Read more...]

Ho Ho Home for the Holidays!!

Christmas is coming and there’s nothing like coming home for the Holidays! But if you believe buying a home this time of year stops or is taboo, you are mistaken – there are homes currently listed on the Outer Banks and are selling! Traditionally, there are fewer buyers competing against you during the holidays. While they are shopping for the Holidays, you can be shopping for a new home. How many buyers are out looking for houses now? AND because there are fewer buyers looking for houses right now, sellers will take you a bit more serious and actually may be jubilant for buyers viewing … [Read more...]