5111 S Virginia Dare Trail, Nags Head, NC 27959

Superior unrivaled TRULY well maintained Oceanfront home on large 75' wide lot located in a premier location in the prestigious Duneridge Community of The Village at Nags Head. The dune structure is excellent and the expansive views of the Atlantic Ocean are stunning. This home was built with extreme quality by Glen Wickre and is solid as a rock. This home has never been rented and has only had two owners. The first owner spared no expense building the home and the current owner spared no expense renovating and bringing it to like-new condition. With over $600,000.00 in improvements and many … [Read more...]

How’s the Outer Banks Housing Market?

Residential sales Residential sales for the year are up slightly (1%) Condominium unit sales are up 19% with total volume sold up 22%. Condominium median sales price are up 16%. Single Family detached home sales are down by 4% The number of sold Single Family homes is up 3% with the average / median sale prices up (7% and 2%). Lots / Land sales Lots / Land sales are on the rise with the sale of residential lots up 13% for the year Total number of lots sold is up 5%. Inventory Residential inventory is up 8% Land inventory is up 7% Commercial inventory is down by … [Read more...]

Do you like FREE money?

Have you toyed with the idea of renting out your home on the Outer Banks the times you aren’t there? If so, you’d need to read and follow the rules for rented properties. There are advantages to renting out your vacation home like deducting certain expenses such as mortgage interest, real estate taxes, casualty losses, maintenance, insurance, and depreciation. (please contact your tax preparer or CPA for more details) However, you can still take advantage of renting out your home and be able to KEEP all the rental income, if your home is only rented 14 days out of the year! It’s the … [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...]

Careful when you change your address

Did you know the United States Post Office “highly” recommends online change of addresses? It used to be you could fill in a form sending it a change of address OR go online. Now a change of address packet isn’t in the Post Office Lobby – just a postcard detailing how to do it online. As with anything online, you do need to be careful, you could get tripped up by a mail-change scam. Last year the REALTOR® Association warned about a “Change of Address” scam. Rather than paying only $1.00 to the United States Postal Service to change an address online, there are online companies, which … [Read more...]

What are you looking for in a Luxury Home?

  Luxury home sales of $1 million or more increased 44% over last year according to the National Association of REALTORS® in their recent home survey. The Wall Street Journal recent reported Luxury Home Sales were increasing more than any other type of home sales in the housing markets.   What are Luxury Homebuyers looking for in a Home? A Smart Home According to a recent survey, 66% are looking for a home which offers more technology integrated in the home’s system. Many homebuyers want the convenience of controlling their smart homes with their smart phones. Luxury 60% … [Read more...]

Should you hire a Buyer’s Agent to purchase a home on the Outer Banks?

What IS a buyer’s agent? In short …. A buyer’s agent is a real estate professional, who may also be a member of the REALTOR® Association, who represents ONLY the buyer and not both the seller and buyer. According to the REALTOR® Association, “A buyer's agent serves as your representative during the home search and purchase process. The tasks that they perform can include helping you find a home that meets your needs, liaising with building contractors, providing you with an analysis of the prices of similar properties in the area and any property value trends and identifying any problems … [Read more...]

Outer Banks Home Sales for April

Sales: Over all April was a good month with monthly unit sales up 24% over March sales; Unit sales are down 12% for 2014. Property sales are up 35% over the same period in 2013 Residential unit sales are down by 7% Land sales are down by 30%. Sales Price: Average and median sales price of all classes of property are rising: The average / median sales price of residential listings is up 14% / 1%; Average / median sales price of land listings is up 47% / 45% Average / median sales price of commercial property is up 147% / 80%. Under Contract: The number of listings placed in an … [Read more...]

Let’s Get Ready for Summer on the Outer Banks!!

After such a harsh winter and all the snow, Spring is HERE – the temps are getting warmer and summer will not be far away – time to dust off your vacation home and get ready for summer fun!! But before you get started, the best way to start is to make a plan and check list of things to do … Make sure your lights and gas are turned on. Make a jug of sun tea -- Take the water heater off of vacation and turn it up to a usable level – not too hot, especially if there will be young children around. Check for any leaks in the plumbing and toilets Change out any old light bulbs and … [Read more...]