Outer Banks Real Estate Connection

Pirates Cove Billfish Tournament Record Blue Marlin

Matt Huband (Hometown Realty Outer Banks) — Wed, 20 Aug 2008 09:29:01 -0500

Record-sized marlin caught in tournament

The Mimi team gives a 'No. 1' sign in honor of the giant Blue Marlin taken from the boat. (PCBGT)

Trey Irvine of Westin, Fla., landed a pending North Carolina State Record Blue Marlin weighing an incredible 1,228.50 pounds to take home nearly $500,000 from the 25th Annual Pirate's Cove Billfish Tournament, held Aug. 11-15.

When certified, this catch will eclipse the 1,142-pounder caught by Jack Herrington in 1974.

Competitors from North Carolina, Virginia, Maryland, New Jersey, South Carolina and Florida competed in the five-day event.

In addition to the record catch, a total of 23 Blue Marlin, 59 White Marlin, 20 Sailfish and one spearfish were caught during the event.

For more information on the 25th Annual Pirate's Cove Billfish Tournament, go to www.pcbiggame.com or call (252) 473-1015.

· • •

You can read this story, and all the rest, in the Outer Banks Sentinel e-edition.

Go here to learn more about the Outer Banks of North Carolina

Outer Banks Real Estate- What % below asking price is about right to offer on a home in Southern Shores, NC.

Matt Huband (Hometown Realty Outer Banks) — Tue, 08 Jul 2008 10:24:29 -0500

I got another question recently from an interested buyer looking in the Southern Shores area of the Outer Banks. They wanted to know:

Question:

What % below asking price is about right to offer on a home in Southern Shores, NC that will be used for a weekly vacation rental? Also it does not have a pool, how much would it cost to add one?

Answer:

There was time when you could count on the local MLS information to help you come up with the right offer. However with the current state of the market it takes a lot more that just looking at numbers to consider what to offer on any given house. I can only tell what I do for my clients when they get ready to make an offer in this market and it has worked for me to get the best deal I can. With out giving away all of my "trade secrets" you really need to try an get the most information on the seller as possible. Any good Realtor knows the questions to ask the selling agent and where to look to find out info about the seller. The key is not to come in so low that the seller totally disregards your offer but to put yourself in a position to get the seller to know you are a serious buyer. For all of this to work the buyer and Realtor need to have defined plan of attack before going into the negotiations so emotions don't take over an ruin what could possibly be a great deal. I have seen many buyers and sellers walk away from deals over emotions or " the principal" of something. This market is really where a Realtor who does their homework and has excellent negotiating skills can save their buyers $$$.

As for a pool it is essential to generating strong rental income. Most renters demand it and they are willing to pay extra for it. The cost for a good quality job is around $35,000 that would include the pool, concrete, fence and most extras. It's funny to think that 10 to 15 year ago a pool on the Outer Banks was considered a luxury and only the "Big 5 & 6 bedroom" homes had them . Now they are standard if the lot can support it and renters have to have one.

If you have a question regarding real estate on the Outer Banks or anything related to the Outer Banks send it to mhuband@htrsi.com and I will be happy to answer.

Anyone Looking To Retire To The Outer Banks & Run A Wonderful Business??

Matt Huband (Hometown Realty Outer Banks) — Wed, 02 Jul 2008 15:02:22 -0500

If you have ever dreamed of retiring to the Outer Banks but still wanted something to do I have the perfect opportunity for you!!! I just listed a wonderful piece of property that consists of 2, attached but separate entrance, single family homes with a wonderful art gallery on the bottom of one of the units. That's right you don't even have to leave you home to go to work!! The Sally Huss Gallery has been a local and visitor favorite for over 15 years and now the owner is ready to pass on this amazing business to someone else. The gallery is on the bottom floor of a 5Bd/4Bth home, you just walk down stairs and your at work. There is another 4Bd/3Bth residence that can be used for guests or rent out for extra income. Plus one of the best parts about this property is that you can walk to the beach only a block away!! It is the perfect place for someone who is looking to live in a beautiful beach resort, run a small but profitable business, and be steps from the ocean.

For more information about the property Click Here or email me today!!

Outer Banks Real Estate-Follow Up To Previous Post On Duck & Corolla

Matt Huband (Hometown Realty Outer Banks) — Wed, 18 Jun 2008 11:34:11 -0500

To follow up on the previous post about the prices in Duck & Corolla I wanted to show 2 recent closed transactions.

Here is an example of the great deals buyers are getting now on the Outer Banks in Duck & Corolla!!

Located in Duck 1 Lot Oceanfront

MLS#55721

5 Bedroom 4 ½ Baths

2000sq ft Built 1995

Pool & Hot Tub

Fully Furnished

$42,000 Rental Income

Originally listed on 10/05 for $1,100,000

Sold 6/12/08 for $726,500- $373,500 off original list price!!!

Tax assessment on this house was $933,700!!!!!

Located in Corolla

6 Bedroom 5 ½ Bath

3326 Sq Ft

Built 2005

Almost $50,000 in gross yearly rental income

Fully Furnished

Originally Listed $925,000 in 8/05

Sold 6/10/08 $605,000-That's $320,000 off the original list price!!!

There are deals like these all over the Outer Banks in all price ranges!!!

Contact me for more information

Outer Banks Real Estate-What is the market like in Duck and Corolla, NC?

Matt Huband (Hometown Realty Outer Banks) — Wed, 18 Jun 2008 10:43:49 -0500

What is the market like in Duck and Corolla, NC? We have been trying to purchase there for years but the area was experiencing extremes of price appreciation. Asked Tue Jun 10 2008 11:55 by B. M.

I answered this question the other day from one of the sites I belong to and wanted to post my answer here.

Matt Huband answered:

Just like everywhere on the Outer Banks the prices in Duck & Corolla have come down to where they were in 2003-2004. Most of the homes in Duck & Corolla are in the $500,000+ range with most over $1M an this price range has seen the largest drop in home prices. With the number of listed houses at one of the highest levels in years coupled with the tightening of the mortgage industry these houses are having fewer and fewer buyers. This along with the continued strength of the rental market has made this one of the best buyers markets in years. I have been showing my clients the Duck and Corolla areas over the last few months due to some of the great deals that are out there especially in the $750,000+ range.

I would be happy to go more in depth with you about what I have seen over the last 60 days. Please feel free to contact me when you have time.

If you have a question about the Outer Banks just send me an email.

Outer Bank Beach Named Top 10 For 2008!!!

Matt Huband (Hometown Realty Outer Banks) — Tue, 27 May 2008 12:31:31 -0500

The beaches of the Outer Banks has once again made the famous Dr. Beach Top 10 Beaches in the USA. Last year Ocracoke beach claimed the #1 on the list. Once a beach has made it to #1 it is then taken out of the running. So this year it was Cape Hatteras National Seashore beach that made the list at #8.

It seems that for the last few years an Outer Banks beach has made the list. That is one of the reasons that millions of people come to the Outer Banks to vacation and buy 2nd homes or to retire. The Outer Banks offers great weather, a relaxed family atmosphere, great local food, world class fishing, surfing and best of all the beaches are fantastic.

Here is the list for 2008

AMERICA'S BEST BEACHES 2008

1.	Caladesi Island State Park, Dunedin/Clearwater, Florida
2.	Hanalei Beach, Kauai, Hawaii
3.	Siesta Beach, Sarasota, Florida
4.	Coopers Beach, Southampton, New York
5.	Coronado Beach, San Diego, California
6.	Main Beach, East Hampton, New York
7.	Hamoa Beach, Maui, Hawaii
8.	Cape Hatteras,Outer Banks, North Carolina
9.	Cape Florida State Park, Key Biscayne, Florida
10.	Beachwalker Park,Kiawah Island, South Carolina

Check Out Dr. Beach's website here

ORV Beach Access Settlement Signed By Judge, Battle Rages On!!

Matt Huband (Hometown Realty Outer Banks) — Thu, 01 May 2008 07:22:01 -0500

The judge in the ORV Beach Access Lawsuit finally signed the temporary settlement agreement that was reached last week. Below is the outline of the agreement from the Island Free Pressalong with closure guidelines and maps showing the areas that will be part of the settlement. The battle is still ongoing until 2010 as a final ORV plan must be reached by then. This morning a local Dare County Commissioner spoke about how this is the first step in the beginning of total closure of the beaches on Hatteras & Ocracoke Island by the environmental groups that brought the initial lawsuit. Their goal is to have complete access to all of the National Park Service Land closed to all traffic, walking or vehicle which would totally devastate the villages and towns of Hatteras and Ocracoke Island. Over the next 2 years if you have any interest in vacationing or own property on Hatteras or Ocracoke Island please go to the Island Free Press website and see how you can get involved in the fight.

Parties to ORV lawsuit agree on settlement;
details and maps are now public

By IRENE NOLAN

U.S. District Court Judge Terrence W. Boyle today signed a consent decree that will settle a lawsuit by environmental groups over off-road vehicle use on The Cape Hatteras National Seashore.

The seashore's beaches will remain open to ORVs, though with more restrictions than islanders and visitors are used to.

And it won't take long for beach drivers to notice the changes.

The settlement is effective tomorrow, May 1, and seashore superintendent Mike Murray says that Park Service personnel will be posting signs at all seashore ramps that the beaches are closed to ORVs from 10 p.m. until 6 a.m.

The night-driving closures are one of the differences between the interim plan that the Park Service had been operating under and the terms of the settlement.

Another difference that beach drivers - and even pedestrians - will notice is an increased buffer around piping plover nests once the chicks have hatched.

The settlement resolves all issues in the case that began last October when Defenders of Wildlife and the National Audubon Society, represented by the Southern Environmental Law Center, filed suit against the National Park Service over its Interim Protected Species Management Plan that is to regulate ORV use and species management until a long-term rule is developed through negotiated rulemaking and an Environmental Impact Statement.

The plaintiffs claim that ORV use on the seashore is illegal, since the Park Service does not have a special rule to regulate it, as has been required since 1972. Also, they claim that the interim plan does not go far enough to protect wildlife in the park, especially shorebirds and sea turtles. In addition, the plaintiffs asked Boyle in February for a temporary injunction to prohibit ORV use until the suit is settled on six popular areas of the seashore - Bodie Island spit, Cape Point and parts of the South Beach, Hatteras Inlet, and the north and south points of Ocracoke.

The defendants are the National Park Service, the U.S. Fish and Wildlife Service, and others, including the director of the National Park Service and the superintendent of the Cape Hatteras National Seashore.

In December, Boyle allowed Dare and Hyde counties and the Cape Hatteras Access Preservation Alliance to become defendant/intervenors in the lawsuit to represent the interests of the public.

In a filing with the court on the eve of today's hearing, Murray noted that the consent decree will mean a "significant reduction in ORV access during the peak summer season."

Murray noted in his declaration to the court that in 2007, piping plovers nested at three locations - Bodie Island spit, Cape Point, and the South Point of Ocracoke. If the threatened shorebirds nest in the same areas this summer, the three areas will be closed to ORVs for at least two weeks and perhaps longer. The length of closures will depend on where the birds nest and how the foraging birds and their chicks move along the beach.

``I am not happy with the outcome," said Allen Burrus of Hatteras village, vice chairman of the Dare County Board of Commissioners. "To further restrict access to some of the most enjoyable beach and fishing spots on the Cape Hatteras National Seashore is disappointing. Being happy that the consent decree only restricts access instead of banning it is like saying you're glad you only have one headache - not two.''

Boyle's courtroom at the federal courthouse in Raleigh was filled with supporters of open beach access for today's 2 p.m. hearing. And most of them would agree with Burrus - that they don't like the consent decree but can live with it and find it better than the alternative of shutting down popular areas of the beach - or even shutting down the seashores beaches altogether.

In fact, when the hearing got underway with Murray answering questions and showing Boyle maps, some of the spectators thought from the judge's questions to the superintendent that he was about to shut down the beaches.

"The judge did quiz Mike Murray for quite a while about his plan," said Warren Judge, chairman of the Dare County Board of Commissioners. "The overtone of his questions would lead you to believe that he might prefer to close down the beaches."

"He gave every indication several times that he was going to close it down," said Frank Folb of Avon, owner of Frank and Fran's tackle shop and a member of the negotiated rulemaking committee that is working on a long-term plan for regulating ORV use on the seashore.

Rob Alderman, who owns the Hatteras Island Fishing Militia Web site and is active in access issues, said that Boyle seemed particularly bothered that the amount of beach being restricted to ORVs was reduced but that the number of ORVs on the beach was not being restricted - resulting in the same number of vehicles on a smaller section of beach.

John Couch, president of the Outer Banks Preservation Association and an alternate on the negotiated rulemaking committee, said he thought Boyle "reluctantly" signed the consent order after questioning Murray about carrying capacity of the beaches, permits, whether the ramps could just be chained off, how drivers would be educated and other issues.

"He asked a lot of questions about why the decree didn't cover certain issues," said Lawrence Liebesman of Holland and Knight in Washington, D.C., an attorney for the intervenors in the lawsuit.

Liebesman said Boyle seemed "troubled" by the fact that many of his concerns were not covered by the decree, but the judge eventually said he wasn't going to overrule the parties to the settlement.

Jason Rylander, attorney for Defenders of Wildlife, said that it was obvious that Boyle believes ORV use on the seashore is illegal and that the management is not adequate.

Liebesman said that Murray's performance at the hearing answering numerous questions by Boyle was "poised" and "methodical."

"It appears that he turned the judge around," the intervenors' attorney said. "It was a tremendous effort on the part of Mike Murray."

Rylander agreed that Murray did a "commendable job" and said that Boyle acknowledged Murray's work as a public servant.

The ORV access advocates feel that they had no choice but to agree with a settlement that isn't in their best interests. Rylander, on the other hand, said that he thinks the consent decree is a "good outcome for everyone" and said that the fact all the parties could come together is a "win-win situation."

The resources are better protected, Rylander said, and there is still "significant ORV access."

"It's the end of an inning, but the game isn't over yet," Murray said after his day in court, noting that he has his eye on the "long-term" solution - a special rule on ORV use on the seashore. Now he hopes he can spend more time on that long-term solution.

That, however, will be Mike Murray's next challenge.

A negotiated rulemaking committee of 30 stakeholders and their alternatives just started officially meeting in January to formulate long-term ORV regulations.

And the lawsuit by the environmental groups, which have a seat at the negotiating table, has been the elephant in the room since the first day of meetings.

Today, Carla Boucher, an attorney and member of the committee representing United Four Wheel Drive Associations, asked Murray, as the designated federal official in charge, to remove the Audubon Society, Defenders of Wildlife, and the Southern Environmental Law Center from the committee.

Everyone on the committee has been hanging in there, but there are now indications that other committee members may join Boucher's call for dismissal of the environmental groups that sued.

Boucher suggests other local, regional, and national groups to replace the three groups she wants removed from the committee. Other committee members say they favor dismissing the three members that sued and reducing the committee by three of the ORV access advocates. That would reduce the committee to 24 members, which some think would make it easy to reach consensus.

The request to Murray to dismiss the environmental groups, said Rylander, is an "unnecessary and divisive delay tactic that will impede work of the committee."

According to the consent decree, the National Park Service must finish work on the long-term plan by Dec. 31, 2010, and publish a final rule by April 1, 2011.

The negotiated rulemaking committee will meet again next week, on May 8 and 9, at the Comfort Inn Oceanfront South in Nags Head. The day-long meetings begin at 8:30 a.m. and are open to the public. There are usually public comment periods at noon.

Murray said today he isn't sure yet how he will address Boucher's request to boot the environmental groups. He had not even had time to read the request.

However, negotiated rulemaking is once again at a crossroads on the eve of the committee's next meeting.

Will the process be able to continue to survive the challenges?

Details of the Consent Decree

The consent decree signed today my U.S. District Court Judge Terrence Boyle is a compromise among the parties that settles both the lawsuit and the request for an injunction and that the parties have been working on for at least several weeks.

The Interim Protected Species Management Plan will remain in effect at the seashore, though, in cases of conflict, the settlement will prevail.

The headlines in the settlement are that buffers for nests and unfledged chicks are more precisely spelled out and larger in the case of unfledged piping plovers and that there will be a prohibition on night driving from May 1 until Nov. 15.

Some of the details of the settlement include:

· A deadline for a final ORV management plan and special rule. NPS must complete the long-term plan by Dec. 31, 2010, and publish the final rule by April 1, 2011.

· Buffers for breeding and nesting shorebirds and for unfledged chicks will be spelled out in more detail and, in the case of unfledged plover chicks, will be more restrictive.

· In the case of piping plovers, a threatened species, buffers for pre-nesting and nesting will remain the same in the settlement as in the interim plan - 164 feet. Once the chicks hatch, the buffer zone for ORVs will be 1,000 meters or 3,281 feet - about the length of 11 football fields - in each direction from the nest. The pedestrian buffer zone will be 984 feet - or a little more than three football fields. When the 1,000 meter buffer zone is in effect, pedestrians will have limited access during daylight hours to a narrow strip above the mean high tide line for walking, swimming, and sunning.

· After the nest hatches, the buffer will move with the chicks. Two weeks after the chicks hatch, the Park Service may modify the buffer and allow ORV access within the 3,281-foot buffer on each side of the nest if a 984-foot buffer is maintained between the chicks and ORVs. Whether the buffer can be modified to 984 feet will depend on the movement of the foraging adults and chicks from the nest. Access to areas, such as Cape Point, will depend on the movement of the chicks and the physical topography of the beach -- whether there will be room for an ORV corridor above the high-tide line and at least 984 feet from foraging chicks.

· Unfledged piping plover chicks will be monitored from dawn until dusk, and any modification of the 3,281-foot buffer on each side of the chicks will not be open to ORVs until the location of the chicks is determined by a Park Service monitor each morning and an adequate buffer is assured.

· The provision for modifying the buffer will be eliminated if any plover chick is killed or injured by an ORV within the 3,281-foot buffer.

· ORV use at night will be prohibited from 10 p.m. until 6 a.m. from May 1 until Nov. 15 to increase turtle nesting success. This closure is for potential turtle nesting habitat, and it is not clear if that includes all of the seashore. There also is a provision for permits for night driving between Sept. 16 and Nov. 15. No details are available yet on permits.

· There will be penalties for violations of pre-nesting areas and buffers. If the Park Service can show that a deliberate act has harassed wildlife or caused damage to fencing or nests, the buffers will be expanded with each violation.

· Various reports on nesting success will be provided by the Park Service to the courts, the plaintiffs, and the intervenors, who will allowed to comment each year on proposed pre-nesting areas.

· The Park Service will provide education about protected species at access points and in the beach driving brochure and will provide a 24-hour phone line for citizens to report violations.

· The court can modify the settlement for good cause shown by any party, and the court retains jurisdiction to settle disputes.

· The settlement does not preclude any party from filing future legal action.

· The settlement is not a precedent and should not be considered binding or establish any requirements that will influence the negotiated rulemaking process. However, the terms of the agreement can be discussed by any party in the negotiation process.

· The environmental groups are entitled to "reasonable attorneys' fees and costs" to be paid by the federal defendants.

Click Here To Read The Consent Decree

Click Here To View The Maps

Outer Banks ORV Beach Access Update

Matt Huband (Hometown Realty Outer Banks) — Wed, 30 Apr 2008 07:50:42 -0500

April 29, 2008

Seashore leader files information on the eve of hearing

Federal attorneys filed a "declaration" by Cape Hatteras National Seashore Superintendent Mike Murray late today in U.S. District Court in Raleigh on the eve of a hearing on the contentious issue of ORV access at the Cape Hatteras National Seashore.

The document contains Murray's overview of the Interim Protected Species Management Plan and the "key modifications" of that plan under the proposed consent decree. One change, he says, is that ORV access in the summer months will be "significantly" reduced to protect nesting shorebirds and sea turtles.

The declaration is 19 pages long. Along with it, attorneys filed another dozen or so pages of maps and charts explaining buffers that will keep ORVs, and sometimes pedestrians, away from nesting shorebirds.

The interim plan is guiding the park's management of ORV use on its beaches until there is a long-term ORV rule, which is being formulated by a negotiated rulemaking committee.

The proposed consent decree was filed in federal court on April 16. It would settle a lawsuit filed in October by Defenders of Wildlife and the National Audubon Society, represented by Southern Environmental Law Center, over ORV operation on the seashore beaches, which the groups say is illegal. They claim that the interim plan does not go far enough to protect shorebirds and sea turtles.

The plaintiffs, the federal defendants, and the defendant/intervenors - Dare and Hyde counties and the Cape Hatteras Access Preservation Alliance - agreed on a settlement after several weeks of negotiation in April.

U.S. District Court Judge Terrence W. Boyle will conduct a hearing tomorrow at 2 p.m. on the settlement, also known as a consent decree.

The federal filing today notes that Murray will be available in court tomorrow to talk about the consent decree and discuss the maps of pre-nesting and nesting areas and how they will affect access to some of the seashore's most popular fishing and recreation area - Bodie Inlet spit, Cape Point and South Beach, Hatteras Inlet, and the north and south point of Ocracoke.

In his declaration, Murray notes that he believes the proposed consent decree will "ensure effective resource protection and a reduced but reasonable level of ORV access" for the next three years while the Park Service completes its long-range ORV management plan.

Murray states in the filing that ORV access in fall and winter will be similar to what it is now under the interim plan. However, he says, that during nesting season in the summer, there will be "a significant reduction in ORV access."

Click Here to go to The Island Free Press for more information

Declaration of Cape Hatteras National Seashore Superintendent Mike Murray. With Maps.

Classic Outer Banks Beach House For Sale

Matt Huband (Hometown Realty Outer Banks) — Thu, 24 Apr 2008 12:59:31 -0500

I just go this fabulous listing located steps to the beach b/w the highways in Kill Devil Hills. If know anyone looking for a well taken care of beach house in a fabulous location then this is the house!!!

Click Here to take a look.

It's priced right and ready for a new owner!!!

Just to let you know the action down here has gone crazy in the last few weeks!! The buyers have started to come back to take advantage of the incredible deals that are here!! I was at our local Realtor meeting yesterday and all the agents commented on how their buyers are finally ready to buy. The deals are starting to be too good to pass up!!!

Outer Banks-Currituck Mid County Bridge Releases Project Documentation

Matt Huband (Hometown Realty Outer Banks) — Mon, 21 Apr 2008 13:38:56 -0500

For anyone interested in the Currituck Mid County Bridge the NC Turnpike Authority has released a 48 page document detailing the scope of the bridge project. It spells out just about everything about the project from start to finish. I know many tourists who travel to Duck and Corolla are going to thrilled when this bridge is finally completed.

Click Here to go to the NC Turnpike's website to read the document.

A quick note on the real estate front, The action has really picked up in the last few weeks. It seems the buyers all decided at on time to come back and scoop up the great deals that are out there. There has been a lot of action in the under $500,000 list price. There are plenty of tremendous deals out there to be so if you are interested in a beach house on the Outer Banks let me know

OUter Banks ORV Beach Access Decision Reached

Matt Huband (Hometown Realty Outer Banks) — Thu, 17 Apr 2008 06:38:42 -0500

According to the Island Free Press an agreement in the ongoing saga of ORV Beach Access has finally been reached. See the article below:

Apr. 16: The parties to a lawsuit over ORV use on the Cape Hatteras National Seashore filed a settlement today in U.S. District Court in Raleigh. The settlement was filed in the form of a consent decree that now goes before U.S. District Court Judge Terrence W. Boyle, who must approve the terms of the agreement.
The end result of the settlement is that management of seashore resources is now in the hands of Judge Boyle and the private, special-interest groups that negotiated the terms of the settlement without input from the public. The role of the National Park Service will be to enforce the terms of the settlement until there is a long-term ORV regulation, perhaps in three years. Irene Nolan

To see the full story and all the information about the ORV Beach Access case Click Here

Outer Banks Real Estate-Why Now May Be The Time To Buy

Matt Huband (Hometown Realty Outer Banks) — Tue, 15 Apr 2008 17:05:08 -0500

Here is the breakdown on the last 7 years of Outer Banks real estate stats

New Listings #Sold Avg. Sale Price Day On Market % Of Sold Price Vs List Price

2000 3778 2721 $176,374 216 98.33

2001 3691 2932 $192,140 217 97.01

2002 4372 3576 $254,435 169 97.58

2003 4510 3098 $337,086 152 97.37

2004 5212 3711 $402,928 150 97.04

2005 5914 3159 $463,657 150 96.51

2006 7154 1679 $445,785 179 94.88

2007 6729 1508 $427,199 190 93.25

2008 1751 336 $405,024 201 92.33 As of 4/15/08 177 listing are U/C with 4336 active listings

As you can see prices are back to where they were in 2004!!! It is just incredible to think you can get a home for close to or less than what someone paid for it 4yrs ago.

The Outer Banks market as you can see from 2000 to 2005 experienced an incredible amount of appreciation in real estate that has never occurred before. Along with that came an explosion of new construction that continued on until late 2006. As buyer demand has been cut in half since 2006 the number of new listings has doubled which has led to the current buying opportunities that exist today. Those opportunities have been made even more attractive by those sellers that purchased properties from 2004 on that had no business buying for various reasons. The listings that represent the best buying opportunities are those in the $1M+, as those values have decreased the most due to increased seller competition and low buyer demand. However there are tremendous buying opportunities across the price spectrum. Since almost all of these properties are used as weekly vacation rentals the gross rents on these properties continues to be strong. Tourist numbers the last 3 yrs has increased 10% to approximately 6 million people who vacation along the Outer Banks from Corolla to Hatteras & Ocracoke each year. Giving the proximity of the Outer Banks, a day's drive from over 75% of the entire population on the east coast, the Outer Banks will continue as one of the east coasts top vacation destinations. This is what makes the Outer Banks real estate market such an attractive investment. Investing in a beach house on the Outer Banks gives a buyer the opportunity to buy in a down market with great upside potential, earn yearly rental income to offset expenses, offer tax incentives, and is always here for personal use.

Who knows when we reach bottom but most of the consensus is that we are at it or close to it on the Outer Banks. The reason for that thought is that buyer activity has picked up considerably since the beginning of April with some of the best deals going under contract. With so much property on the market the "great deals" are still out there to be had!!!

To learn more about the real estate opportunities on the Outer Banks email me at mhuband@htrsi.com or call 252-480-9283.

All information deemed reliable but not guaranteed. Outer Banks real estate stats compiled from the Outer Banks Association Of Realtors MLS Books 2000 to 2008.

Outer Banks Real Estate Prices Heading South!!

Matt Huband (Hometown Realty Outer Banks) — Tue, 01 Apr 2008 08:43:33 -0500

I just keep saying it over and over, what a great time it is to buy a house on the Outer Banks in all price ranges and here in another reason why!!!

I have a seller that just re-listed their house and reduced the price from $715,000 to $659,000!!

The original purchase price of the house was $689,900 in 2005 and now it's listed at $659,000

This 7bd home is only 4yrs old comes fully furnished and does $30,000 a yr in rental income. The house already has $19,800 booked for the 2008 rental season.

Click Here to check out the brochure and let me know if you have any questions!!!

Give me a call or email if you know of anyone looking to buy on the Outer Banks!!!!

Close before the end of May and get almost all of the 2008 rental income with only 6 months of expenses!!!

Outer Banks Real Estate-Mid County Currituck Bridge Is Finally On The Way

Matt Huband (Hometown Realty Outer Banks) — Tue, 26 Feb 2008 09:54:29 -0600

It looks like the wait will be over in 2013 when the first cars are able to make the trip across the Mid County Currituck Bridge that will connect mainland Currituck to Corolla. This will dramatically reduce the travel time , some predict up to 2 hours, for tourists that for years had to wait in miles of traffic to get to Southern Shores, Duck, & Corolla as they made their way to the Outer Banks for vacation. The bridge will also give residents and tourists another evacuation point in case of a major hurricane. The Mid County Bridge has been on the agenda for construction for over 25 years and now it looks like the time for construction to begin is only a year or two away. It is amazing at how long it has taken for the powers that be to finally get together to make this happen.

If you want to learn more about the Mid County Currituck Bridge Click Here

Outer Banks Summer Rental Bookings Going Strong

Matt Huband (Hometown Realty Outer Banks) — Wed, 20 Feb 2008 10:38:01 -0600

It looks like 2008 is going to be another great rental year for the Outer Banks. I base this on my own personal poll of management companies that I have talked to in the last week while checking out the updated rental bookings on my listings. From what the management companies are saying it looks like people have started to book earlier this year with many of the houses already getting close to having the peak summers weeks booked solid. I know several of my clients only have a few peak weeks left. This could mean that more people will be coming to vacation the Outer Banks this year or they are not waiting until the last minuet to book. I also think a lot has to do with the slowing economy and families putting off going on big ticket vacations like Disney or a cruise but instead are settling for a nice week at the beach. Hey, for those of you that have been to the Outer Banks know that this is not a bad place to spend a week. The Outer Banks offers great weather, beaches, food, and most of all great southern hospitality!!

If you are one of millions of lucky visitors to the Outer Banks each summer and think while you here you may want to stop renting a house and want to own one, let me know when you are coming down. While you are here I will be happy to stop by to see if owning a piece of the Outer Banks is right for you.

For Outer Banks new, weather, real estate, fishing, web cams, restaurants and more check out www.HometownOBX.com

Hatteras Village Vacation Home On The Outer Banks

Matt Huband (Hometown Realty Outer Banks) — Wed, 20 Feb 2008 10:13:50 -0600

This Outer Banks beach house is priced over $100,000 below tax vaule and was appraised for $690,000 in 1/08!! Now Listed for $675,000

Seller says sell this 3100 sq foot home, with ocean and sound views, in upscale SummerPlace II. Only 2 lots back from oceanfront (approximately a 3 minute walk) with easy access to shops and grocery. Large private pool and hot tub, accessible from ground floor. First floor has 4 master bedrooms and washer /dryer. 2nd floor has open kitchen/dining/living area with half bath, and a master bedroom suite with garden tub. Great rental history & a great price make AAH Summer a bargain!!

This vacation home already has $26,000 booked for the '08 rental season. Last year with owner time added back in it would have generated over $40,000!!!

For more information Click Here

Outer Banks Real Estate-Short Sale Price Reduction

Matt Huband (Hometown Realty Outer Banks) — Thu, 10 Jan 2008 09:19:07 -0600

I have a great property that needs to get sold!!

Price Reduced on 40277 Ocean Isle Loop Avon, NC- This property generates $70,000 in gross rental income and is only 1 lot from the Ocean & it comes fully furnished plus it has a pool, hot tub, and game room. The seller says get it sold!!

Originally offered at $1,295,000

Now $1,100,000!!

Click Here to view the Property Listing

I pay a 25% referral fee for all realtor referrals!!

For more information contact me at 252-480-9283 or mhuband@htrsi.com

Check out all Outer Banks listings at www.HometownOBX.com

Outer Banks Real Estate-Now Is The Time To Buy In '08

Matt Huband (Hometown Realty Outer Banks) — Thu, 10 Jan 2008 08:05:51 -0600

Buy NOW To Receive Up To 100% of '08 Rental Income

Pay Less than 80% of '08 Expenses

Houses Selling Up To 40% Off Original List Price

Why is the time to buy now??

You will get up to 100% of the '08 rental income if you close before the end of March, but only have to pay for less than 10 months of expenses. Plus if you buy a house has rental weeks booked for '08 you will get a portion of the rental income at closing!!

If you are in the market for an investment, 2nd home, or retirement property now is a great time to get Outer Banks real estate at well below peak prices. Sellers are ready to sell and there is a large inventory to choose from. Plus mortgage rates are coming down!!

To learn more contact me at mhuband@htrsi.com or 252-480-9283

Outer Banks Real Estate-Now Is The Time To Buy In '08

Matt Huband (Hometown Realty Outer Banks) — Thu, 10 Jan 2008 08:05:39 -0600

Buy NOW To Receive Up To 100% of '08 Rental Income

Pay Less than 80% of '08 Expenses

Houses Selling Up To 40% Off Original List Price

Why is the time to buy now??

To learn more contact me at mhuband@htrsi.com or 252-480-9283

Great New Listing

Matt Huband (Hometown Realty Outer Banks) — Mon, 22 Jan 2007 11:14:41 -0600

http://matthuband.point2agent.com/Listing/VirtualTour.ashx?listingid=899492

I have just listed a great house in Corolla in the Whalehead subdivision. Check is out at the above link.

Looking for a house that has had all the work done for you?? This house has been upgraded top to bottom over the last 4 years. Owners took 2 prime weeks & it still did $43180 almost $50,000 with the 2 weeks added back. Plus the house is only open for rental from April -September. $16,000 booked this year. Heated pool, hot tub with ocean views, game room w/ foos ball & air hockey, plus outside volleyball court. The interior paint and furnishings are in excellent shape. This is a must see beach house!!

Outer Banks Real Estate-Is There Opportunity In The Real Estate Market??

Matt Huband (Hometown Realty Outer Banks) — Mon, 20 Nov 2006 13:35:32 -0600

If you had to choose to go buy a car at a dealership with 2 cars for sale or a dealership with 200 cars for sale and they were the only choices you had which one would you choose?? I would hope the dealership with 200 for sale. Why?? Selection and price.

Now if you had to choose to buy a house in a market where the choices were limited and you competed with many buyers (sellers market) with prices rising or you could buy in a market where your choices were many and no one was competing with you (buyers market) with prices falling. Which one would you choose?? Again I hope it would be the buyers market. Why?? Selection and price.

Read the article below for more.

November 10, 2006 Slow Market, Election Shakeup Present Opportunity Despite a softening real estate market, the sky isn't falling. In fact, today's market conditions are ideal for buyers, who can choose from a wider selection of homes, find better deals, and still take advantage of low interest rates.

"The media isn't telling the story. These are perfect conditions for the buyer," said Tom Stevens, president of the NATIONAL ASSOCIATION OF REALTORS®, at the Member & Director Update on Thursday evening.

To help consumers cut through the negative media messages and realize that now is the right time to buy, NAR is running full-page ads in major national newspapers, including The Wall Street Journal, USA Today, and the Los Angeles Times. The ads are the start of a larger NAR campaign, which also will include radio and network TV commercials.

http://www.obxrealestateconnection.com/

Outer Banks Real Estate-Summer Tourist Numbers Are In

Matt Huband (Hometown Realty Outer Banks) — Fri, 03 Nov 2006 09:45:12 -0600

The summer economic indicators are in from the Outer Banks Chamber of Commerce and again the Outer Banks saw an increase in tourists from ‘05. Both the occupancy & food/beverage sales were up compared to ‘05 with a year to date growth of 9.5% & 3% respectively. This is especially good news for those of us who live here but also for the slowing real estate market. Each year as more and more new tourist come to the Outer Banks they broaden our pool of potential real estate investors. While right now is the best buyers market that has occurred in years on the Outer Banks and annual appreciation is flat this year those who buy now should see strong growth potential in real estate values. Recently there was some great news that to prove that the real estate market will be strong for years to come. Good News for the Outer Banks Real Estate Market: Daily Real Estate News | October 24, 2006 Places Where Americans Would Love to Live
North Carolina and Virginia top the charts as places where American most want to live, while California and Florida received the top votes of foreign respondents in a recent study, the Anholt State Brands Index. The Index analyzes the brand strengths and weaknesses of all U.S. states. The survey polled more than 9,000 U. S. citizens and 12,000 people in 15 other countries on their attitudes and perceptions of all 50 states. Questions regarding physical aspects of each state, economic and educational opportunities, lifestyle appeal, people, and basic qualities and infrastructure were designed to give state administrators and economic development offices insights into how their state is perceived within and outside of the United States.The top five most desirable states to make a home, according to U.S. citizens are: · North Carolina

· Virginia · Florida · Colorado · Oregon

North Carolina and Virginia also ranked highly as lifestyle destinations, and they consistently placed in the top 10 for climate, physical attractiveness, amenities, ease of finding employment, commercial opportunity, and education. Read the entire article at http://www.realtor.org/rmodaily.nsf/pages/News2006102405?OpenDocument To learn more about real estate on the Outer Banks contact Matt Huband at 866-322-3110 or MattHuband@HometownRealtyServices.com

Outer Banks Real Estate-Average Home Price Takes A Small Decline

Matt Huband (Hometown Realty Outer Banks) — Mon, 16 Oct 2006 13:10:25 -0500

It looks like for the first time in 2006 the average home price on the Outer Banks has declined by 2.8% as of 10/16/06. I have noticed over the last few solds on MLS the sales price was 20 to 30% below asking price. Sellers are finally getting to the point where they realize that if they do not take an offer now they might have to sit on their property for some time. I am glad to see that some sellers have come to their senses and willing to come down on price. I am sure if you read this blog you are tired of me talking about what a buyers market it is but IT IS!! I have found some awesome homes for a few of my investors who are still actively buying property and they are walking away with deals I thought I would never see here on the Outer Banks. What makes this a great time to buy is that mortgage rates are great and the buyers have the sellers backed up into a corner.

Here are a few examples of what has sold:

6bd/5bth located in Corolla Light

Original List $1,295,000 370 days on the market

SOLD $875,000 on 10/12/06-THAT’S $420,000 OFF!!!

4bd/2 1/2 bath located in Nags Head

Original List $919,000 483 days on market

SOLD $740,000 on 10/10/06-THAT’S $179,000 OFF!!

7bd/ 6bth located in Rodanthe

Original List $819,000 567 days on market

SOLD $672,000 on 10/10/06-THAT’S $147,000 OFF!!

There is a seller in every price range and location just waiting for a buyer!!!

To learn more about real estate on the Outer Banks contact Matt Huband at 866-322-3110 or MattHuband@HometownRealtyServices.com

www.obxrealestateconnection.com

Outer Banks Real Estate-Kill Devil Hills Named Top 10 Best Small City In America

Matt Huband (Hometown Realty Outer Banks) — Mon, 09 Oct 2006 14:12:24 -0500

According to a Bizjournals survey to identify the Top 10 "dreamtowns" of America, Kill Devil Hills on the Outer Banks of North Carolina made the list at #7. As a resident in Kill Devil Hills I am certainly biased and agree with the survey. I can honestly tell you that if you are looking for a lifestyle change or want to own a vacation home here, this is a great place to be. Kill Devil Hills is centrally located on the Outer Banks with the majority of the shops & restaurants on the Outer Banks located within the town. The beaches are great and no matter where you live in Kill Devil Hills you are only a few minutes away from them. Let's not forget that Kill Devil Hills is home to the Wright Brothers Monument where Wilbur & Orville Wright made history with the first manned powered flight. Just like the rest of the Outer Banks Kill Devil Hills is a great place to own real estate whether it's for year round living, second home, or retirement. The town offers a wide variety of places to go and things to do.

Check out who else made the list, click here

To learn more about real estate on the Outer Banks contact Matt Huband at 866-322-3110 or MattHuband@HometownRealtyServices.com

www.obxrealestateconnection.com

Outer Banks Real Estate-Fortunes Made In Real Estate

Matt Huband (Hometown Realty Outer Banks) — Fri, 22 Sep 2006 09:59:19 -0500

You may have read or heard today that Forbes released its 400 Richest People in America today, Click Here to read the article. While most of these people have made their fortunes in various industries I noticed one common investment almost all have made. REAL ESTATE!! Now most of us ordinary Americans do not have the spending power to go out and buy the types of real estate that these people do but it goes to show you that most people of wealth invested in real estate. The number one thing about owing real estate is having someone else help you pay for it and buying in an area where long term appreciation will occur. The Outer Banks provides you with those benefits plus many more. You do not have to be a millionaire to buy real estate. Buying a house on the Outer Banks is easier than most people realize. With the buyers market we have now you can get all kinds of incentives such as no closing costs, interest rate buy down, and cash back at closing. The deal and incentives are out there you just have to start looking.

To learn more about real estate on the Outer Banks contact Matt Huband at 866-322-3110 Ext 1101 or MattHuband@HometownRealtyServices.con