Archives for August 2014

Happy Labor Day from Jackson!!

What is Labor Day and how did it start? Have a safe Holiday weekend!! … [Read more...]

What goes into Closing Costs on the Outer Banks?

According to Bankrate, North Carolina ranks 6th highest in terms of closing costs when compared to other closing costs throughout the United States. You can expect to pay about $1,887 in bank origination fees; $714 in third-party fees, appraisals, and title insurance; for  $2,602 in approximate closing costs. You may see fees by the Lender like this: Origination points (not discount) - $857 Application - $343 Doc prep - $68 Mortgage Broker, originator or lender - $1,061 Processing - $495 Tax Service - $72 Underwriting - $200 Wire Transfer - $25 Here is a breakdown of the *average 3rd … [Read more...]

What You Need to Know About Homeowners Insurance

If you own a home on the Outer Banks, insuring it and making sure your policy provides the coverage needed is incredibly important. For this, you will need to know and understand your policy well. Don’t wait until you have to submit a claim (or a claim denied) to read it.   Breaking It Down – Coverage  Actual cash value – If your policy states that it will pay the actual cash value of the contents of your home, you will be paid an amount equal to what your belongings were worth before they were destroyed. This includes wear and tear and depreciation. This coverage does not include the cost … [Read more...]

July 2014 Sales on the Outer Banks

Year to Date Summary – Overall, the year has been relatively uneventful; however, a few things really stand out: Commercial property - With sales volume is up 64% and unit sales up 89% one might consider this a sales “boom”; however, while this is an interesting statistic, the MLS does not expect this “boom” to be long term. Condominium sales - So far this year, condominium sales have exceeded expectations with unit sales up 33% and sales volume up 45%. Residential - Unit sales have been lackluster showing a decline of 4%; however, total sales volume is up by 3% and average sale price … [Read more...]

Beware of Rental Scams on the Outer Banks

Greenville, NC | News | Weather | Sports -   You really can’t believe everything you see online – especially when it comes to advertisement for vacation rentals on the Outer Banks. Unfortunately, according to Sergeant John Towler with the Kill Devil Hills Police Department, "The way we typically find out about it  is when a family shows up to start their vacation and somebody is already in the home that they thought they rented." However, there are red flags to keep in mind when you are searching the web for a vacation rental. Misspelled words and bad … [Read more...]