outer banks real estate update-july 2010
DESCRIPTION
Monthly Newsletter following the Outer Banks Real Estate Market from Corolla to Hatteras as well as local news by Matt Huband-Broker/Owner of OBX Realty Group in Kitty Hawk, NCTRANSCRIPT
1
Outer Banks Real Estate Update
Matt Huband, SFR
PO Box 2223
Kitty Hawk, NC 27949
Office: 252-255-0221
Cell: 252-480-9283
Fax: 1-866-902-4479 ———————————
Subscribe to
Outer Banks
Real Estate Update
July
Maximum
Temperature
86F
Minimum
Temperature
72F
Water
Temperature
78F
Precipitation 5.3In
Wind 11mph
Outer Banks Weather
Real Estate Update
JULY 2010 www.OBXRealtyGroup.com
All information in this newsletter is deemed reliable but not guaranteed.
OBX Real Estate
iPhone App now available!!!
Search OBX
listings from your iPhone. It’s FREE!!
User Code 5191
The overall market continues to gain
momentum and with half the year over it
seems the Outer Banks market is on track for
a very successful year. Contrary to what you
hear about the national real estate market on
TV or read about in the papers the Outer
Banks market is not 2-3yrs away from
recovery. The Outer Banks market bottomed
out 8 months ago and is well on the way to
recovery if it has not already done so. Due to
the nature of the Outer Banks market it has
statistically been a leading indicator of the
national real estate market.
Here are 3 good reasons to get into the
Outer Banks market:
1) I am now starting to see houses that are
being regularly sold with a 8-10% Gross
ROI (Return on Investment).
2) Mortgage rates have surprised
everyone and have dropped close to all time
lows. Current rates are holding steady
between 4.6% to 4.85%.
3) What has been a pleasant surprise is the
strength of the rental market. This time last
year many companies were still trying to
fill up weeks for July and August, not this
year. Those who have waited to book their
rental house in hopes of getting a discount
are finding out many companies are booked
up for the summer or they can not get the
house they desire. Not to mention with all
of the oil problems for the gulf states the
Outer Banks has benefited with new tourists
that would not normally vacation here.
Things are shaping up to be a banner year
in terms of rentals which in turn leads to
great rental income!!
To book your trip to look at real
estate on the Outer Banks email:
Or
252-255-0221
I know everyone is looking for the best deal in their price range and I am working hard to find it so
you don't have to. So I came up with a ―HOT DEALS‖ page on the website.
Here is how the page will work: It will be searchable by town and location (Oceanside/BW Hwys
or Westside). Once you click on the town and location the properties will be in price order. Each
property will stay on the page until it’s status is changed, meaning under contract, sold, or with-
drawn. Every week the page will be updated at least 3 days with the new “HOT DEALS” of the
week so bookmark the page and check back often. If it’s on the page and in your price range it’s
an Outer Banks ―HOT DEAL‖!!
The one or more criteria for making the ―HOT DEALS‖ page are: Price below current tax
value, Price below 2005 price levels, ROI (Return on Investment) at 8% or higher, Condition of
home, Best in price category and/or location.
Now out of 3500 listings I may miss a few so if you find a listing that your interested in and
it’s not on the page just contact me for more information.
New “HOT DEALS” Page At OBXRealtyGroup.com
2
Outer Banks Upcoming Events
Local Outer Banks News
All information in this newsletter is deemed reliable but not guaranteed
Outer Banks Plastic Bag Ban Expands 10-1-10
Beginning this fall, Outer Banks all businesses in
Currituck, Dare and Hyde counties will be
required to bag customers' purchases in recycled
paper bags or, better yet, reusable cloth bags,
under the General Assembly's approved budget
plan for the coming year. Customers using
reusable bags will be entitled to a cash refund
worth the cost of the bags not used in the purchase.
Read the full story of
Outer Banks Plastic Bag Ban
in the Daily Advance
For more information about Outer Banks events go to Outer Banks Visitors Bureau
Plans For Offshore Wind Turbines
Plans are moving forward that could see up to three
wind turbines placed in the Pamlico Sound as early
as next year to provide power for homes on the
Outer Banks. It's all part of a first step that could
see massive wind farms placed out in the ocean.
The demonstration project would see the turbines
placed in the Pamlico Sound, likely ten miles west
of Avon and northwest of Buxton. The turbines
would provide about ten megawatts of power for
about 3,000 homes.
For more information go to OBX Wind Turbines
July 4 America Celebrates/July 4th Fireworks with the Town of Manteo
Outdoor Pavilion at Roanoke Island Festival Park. 8 p.m. Enjoy music and fireworks. Bring a picnic and celebrate America! Free. (252) 475-1500 or roanokeisland.com
July 10 - 11 31st Annual Wright Kite Festival
Wright Brother’s Memorial, Kill Devil Hills. 10 a.m. to 4 p.m. Come see a 100 ft. octopus, 50 ft. scuba diver and many other kites dance in the air during this jaw dropping event. Stunt kite demos, games, kids kite making and contests. (877) FLY-
THIS, (252) 441-4124 or kittyhawkkites.com
July 1-3, 5-9,12-16,19-23, 26-30 The Comedy Club of The Outer Banks
Ramada Plaza Hotel, Kill Devil Hills. Directly across the street from the Lighthouse entrance. Every Wednesday. For more
July 7 - 8 The OBX Summer Arts Festival
Hilton Garden Inn in Kitty Hawk. 9 a.m. to 5 p.m. Free admission and feature local artists. For more information call Char-
August 8 9th Annual "OBX BANK" Sandbar 5K
8 am, MP 4.5 Beach Access. Set on the Sands in front of the "Old Station" public bath house in Kitty Hawk. This 5K beach run/walk charity race benefits the Outer Banks Relief Foundation. Entry fee is $25 until July 30th and $30 from July 31st on.
Online registration available at active.com before August 6th. 400 Person cap on registration so register early!
3
All information in this newsletter is deemed reliable but not guaranteed
Summer Beach Safety Being a full time resident on the Outer Banks I go to the beach often and every
year I have to rescue someone from drowning or pull a child out of the surf that
has been swept out by the waves. As a parent with 2 children here are some rules
I live by while at the beach that will hopefully keep your family safe as well.
Never let a child swim in the ocean with out a parent first going into the water
to determine how strong the current is
Never let a child swim in the ocean without a parent next to them
Never let a child play in the surf zone on a rough day.
The waves can knock them down and pull them out into the water
Do not swim in the water when the red flags are up on the beach.
Red Flags mean that swimming conditions are life threatening
Rip Currents pose the most risk to swimmers.
Here is a great video on how to spot rip currents and get out of them.
Wear a sun shirt, sunscreen, and re-apply every 2-3 hrs or more if you spend a
lot of time in the water
Please be respectful of our beaches and throw all trash in trash cans or bring a
trash bag with you
Please only walk over the dunes on designated walking paths
Please recycle all plastic bottles, glass bottles, and cans
Please be safe and enjoy our beautiful beaches
4
All information in this newsletter is deemed reliable but not guaranteed.
Matt’s Outer Banks Favorites
MEDICAL HOUSE CALLS offers evaluation and treatment for adults and children
with common non-life threatening illnesses and injuries such as ear infections, flu,
fever, swimmers ear, sore throats, etc. when your personal physician is not avail-
able.
We are not meant to replace the Emergency Department for true emergencies, or
your regular physician for management of chronic illnesses or conditions. Instead,
we hope to provide a convenient service to you by taking care of those unexpected
illnesses that arise.
If you are a visitor to the Outer Banks, and would prefer to have a medical pro-
vider meet you at your rental cottage or hotel, instead of fighting traffic to seek
treatment, MEDICAL HOUSE CALLS is a convenient solution for you.
Medical House Calls –252-475-2007
The Outer Banks Hospital, located in Nags Head, North Carolina, at MP 14 is
a full service critical access hospital offering a wide range of inpatient and out-
patient services. OBH opened in March 2002 and is one of the newest hospi-
tals in eastern North Carolina. Our Emergency Services-The Emergency De-
partment employs physicians who are board certified in emergency medicine
and a trauma-trained RN staff who are supported by unit secretaries and nurs-
ing assistants. During the summer, a Minor Care section helps accommodate
the increased volume that accompanies the tourist season. 1-877-359-9179
Albemarle Health's Regional Medical Center, located in the Outer Banks of
North Carolina, is a state of the art facility with elite medical professionals,
providing the highest quality of medical care. Regional Medical Center's ser-
vices include Urgent Care and Family Medicine (provided by Beach Medical
Care, Ltd.), Same Day Surgery, and Radiology which features MRI, Mam-
mography, and CT.
Regional Medical Center
5200 North Croatan Highway
Kitty Hawk, NC 27949 (252) 255-6000
5200 North Croatan Highway (252) 255-6000
5
Current Listings
All information in this newsletter is deemed reliable but not guaranteed.
Matt Huband, SFR-Broker/Owner 252-255-0221
[email protected] www.OBXRealtyGroup.com
Call or email me today to set up your visit to the
Outer Banks and find your beach house!!
Nags Head
Duplex with separate
entrances, 3 lots to
the beach!!
$950,000
Call for information
Click On
The Pictures For More
Information
Corolla– Oceansands
2Bd/2 1/2 Bth Condo
Easy Walk To Beach
Great Rentals
$225,000
MLS#62036
SHORT SALE!
Nags Head-Westside
3Bd/2Bth
Great Fixer Upper w/
pool, close to beach
$196,000
MLS#63983
Priced Below Tax
Waves Oceanside
3Bd/2Bth
Walk to Beach
Furnished
$199,000 MLS#65036
Waves Oceanside
3Bd/2Bth
Walk To Ocean
Great beach house
$150,000 MLS#65041
Kill Devil Hills-Westside
2Bd/1Bth
Complete Remodel
Classic beach house
Close to beach & pier
$178,900 MLS#65126