Wende Pritchard, Owner/Broker-In-Charge
All About OBX Real Estate
On the flip side, rental income properties have experienced excellent rental revenue last year. The key to get the best rents for your property is to have the same luxuries or better in your property that people have at home. The homes that have flat screen tvs, game rooms, pools and threater rooms are booked solid for for the summer season.
Even if you are not looking for a rental home, then finding a great price on a beach home is easy to do. The biggest challenge for Buyer's today is knowing what you want in your beach home. Then narrowing down your search from there. Some things that you may want to consider is location (how close to the beach do you want to be?), the number of bedrooms you need, do you want a pool, is a game/family important to you, do you prefer the quite secluded beaches (Duck or Corolla) or the busy beach road area of Kill Devil Hills/Nags Head, and of course what price range you can qualify for.
I believe that now is a great time to start searching for your beach home. However, now that we are in the summer season bear in mind that most properties are going to be rented during the week. So, showing of properties (unless vacant, primary residences, or second homes) will be limited to turnover days (Saturday or Sunday). But, I believe that Sellers are more motivated in the summer months to negotiate because most Buyers wait until the Fall to come back and buy. I have noticed that some Sellers will even readjust their prices upward in expectation of the Fall buying season.
I hope that you find this information helpful. If you have any additional questions, I would be happy to assist you. You can contact me anytime at 252-619-1052 or email me at Renee@lax2obx.com.
ABR, Broker Associate, REALTOR
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I would love to hear from you!!
The prices are the best we've seen in years, Short Sales are available to get even better deals, and Rentals are still good. With the rising gas prices, things may get even better as people up north want to get away for vacation and we are with in a days drive. The Outer banks has always been and still is one of the most affordable resort areas along the East Coast.
I would say yes. I was speaking to an agent that is looking to buy on the coast and she was relaying to me the drop in prices on new construction. The big thing is that some builders are carrying sooo much inventory that they will even take a loss just to get out from under some of these homes.
I specialize in the Hatteras Island market, covering Rodanthe to Hatteras Village. Average sale prices have declined over 18 percent since our market peak in 2005, interest rates are low, and many sellers are motivated. It's time for you to partner with an agent, get pre-qualified for financing and get ready to pull the trigger when the right property presents itself. The first buyers are going to get the best deals!
I would be happy to help you personally or to refer you to an agent that concentrates on your favorite area of the Outer Banks. You may visit my website for more insight or to contact me.
This is an excellent time to be a buyer in the Outer Banks. An abundant supply of homes for sale means that an attractive selection of properties is available for buyersâ€™ consideration, and the purchasing environment is less stressful with fewer buyers in competition with each other. In addition, sellers may be more willing to make concessions during contract negotiations. Interest rates continue to be low, and the median price of residential properties has declined making homes more affordable.
When all is said and done, itâ€™s a great time to be a buyer in the Outer Banks!
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Hugh "Scooter" Willey
Sr. Assoc. Broker ~ Licensed NC Builder