Outer Banks Real Estate Blog

Corolla Short Sales

Kevin O'Brien (Coldwell Banker Seaside Realty) — Thu, 04 Jun 2009 12:07:28 -0500

Are you looking to take advantage of this real estate market? There are some great opportunities in Corolla, for those looking to buy. Many who are interested in vacation rental income, to offset the cost of home ownership, a short sales offers a way to buy a home at a good price that may come rental ready. This is in contrast to many OBX bank owned homes, which often require some upgrades before they are in a rental ready condition. For more information check out, Corolla Short Sales.

Outer Banks Home Buyers Seminar

Kevin O'Brien (Coldwell Banker Seaside Realty) — Sun, 31 May 2009 13:18:37 -0500

Have you ever thought about buying an Outer Banks home? Today's market conditions make it a great time to look for a home in the Outer Banks. Rents have remained strong and are an excellent way to offset the cost of home ownership. If you are planning a trip to the Outer Banks and would like to learn more about buying a home in the Outer Banks, I am offering a home buyers seminar every week throughout the Summer. For more information visit: Outer Banks Home Buyers Seminar.

State of Outer Banks Vacation Rentals

Kevin O'Brien (Coldwell Banker Seaside Realty) — Thu, 28 May 2009 08:17:04 -0500

There is an interesting look at the state of beach rentals by Fox. The article briefly mentions that rentals are down and many owners are making discounts. Both Duck and Corolla are mentioned in the article. My local perspective is somewhat different, from several property managers I have spoken with, the Summer season is not looking bad at all. Some home owners are still experiencing vacancies but it is my understanding these have are being filled. I guess we will have to wait and see how everything works out.

Port Trinitie Gem for Sale

Kevin O'Brien (Coldwell Banker Seaside Realty) — Thu, 26 Feb 2009 06:58:30 -0600

Great Opportunity to buy in Port Trinitie, Duck NC

7 Bedroom home in beautiful Port Trinite. This beautiful home offers 6 and half haths and access to the popular community amenities in Port Trinite. This home is currently being offered at $799,000

Remarks about home: Walk to the ocean or sound! Great condition, immaculate interior with quality furnishings. 4 of the 7 bedrooms are master suites. Spacious decks & beautiful sound views! Wooded setting, no houses directly behind it. Amenities of Port Trinitie include an oceanside & soundside pool, tennis courts.
Port Trinitie in Duck Amenities:

Information on Port Trinite

Port Trinitie (PT) , situated on 23 acres of ocean-to-sound property on North Carolina's Outer Banks, stretches across Duck Road (NC 12) at Mile Post 3.5 and offers gorgeous oceanfront and soundfront views. Located 2 miles north of Duck, North Carolina, ZIP Code 27949, the amenities include two swimming pools, two tennis courts, a soundside pier and gazebo, and two oceanfront sitting areas. This development began with condominiums, which are co-ownership properties, but Port Trinitie now offers an even mixture of whole ownership single family dwellings (cottages and townhouses) and co-owned condos. Port Trinitie has three home styles: (1) Oceanfront Spinnaker, (2) Oceanside SkipJack/Villa, and (3) individual homes found on the oceanside and soundside of the development. Port Trinitie geographic location is - Latitude 36 10' 57" N Longitude 75 45' 50" W.

Information found at Port Trinite Association. Home is listed by: Roy C Smith

Outer Banks Market Report

Kevin O'Brien (Coldwell Banker Seaside Realty) — Mon, 16 Feb 2009 15:38:26 -0600

Hey it may be the middle of February, but as they say better late than never. I have finally made available a downloadable a 5 page color, Outer Banks real estate market report. It is a great way to get a handle on what is happening along the Outer Banks.

Download the 2008 Outer Banks Real Estate Report

Outer Banks Real Estate Report - Recap 4th Quarter 2008

State Regulations on Sandbags in Nags Head

Kevin O'Brien (Coldwell Banker Seaside Realty) — Sun, 15 Feb 2009 18:15:39 -0600

In an article from February 2 in the Star News Online, is shows how the state is not allowing home owners with sandbag structures to replace them. The bad news from the article is, Regulators sent out the first wave of 20 letters in September aimed at the worst offenders, all of which are on the Outer Banks. It does seem as if some our our Outer Banks home owners are going to be affected by this policy. The Office of Administrative Hearings claimed to have no jurisdiction on the issue. Currently it seems home owners have no recourse to save their homes, they are not allowed to replace the sandbags, and they have no other cost effective options. Find more information on Nags Head homes.

Some thoughts on Offshore Drilling and the OBX

Kevin O'Brien (Coldwell Banker Seaside Realty) — Thu, 22 Jan 2009 17:01:05 -0600

First found on the Outer Banks Real Estate website. When I first put forth my thoughts against off shore drilling along the Outer Banks, drill baby drill, was the chant. Everyone being affected by gas prices above $3 and in some cases $4, were clamoring for increased off shore drilling. Since prices have fallen we see places like New Jersey embracing Green technology. This is not surprising considering New Jersey’s stance against off shore drilling. Some ideas in New Jersey are proposed and some are under way. The Atlantic City wind and wave farm is merely in the planning phase but towns like Stone Harbor are currently looking to install solar power on municipal buildings. Both ideas bode well for the use of renewable energy.

Outer Banks Foreclosures and Short Sales

Kevin O'Brien (Coldwell Banker Seaside Realty) — Mon, 12 Jan 2009 12:55:06 -0600

Outer Banks Foreclosure List

Are you ready to learn more? Join the Outer Banks Foreclosure and Short Sale List

Some Frequently Asked Questions about Outer Banks Foreclosures and Shore Sales

Why Should I consider an Outer Banks foreclosure or short sale?

When searching through the current foreclosure list, it is often possible to find homes well under their tax assessed values. Conditions have made it prime for buyers to take advantage of foreclosures and short sales in the Outer Banks. Currently you can find foreclosures in towns like Corolla, Duck, Southern Shores, Kitty Hawk, Kill Devil Hills, Nags Head, Rodanthe, Avon, and more.

Aren't the foreclosed homes often destroyed and in poor condition?

While this definitely can happen, as you view homes you will find them in varying conditions. The best factor is you can place a bid, on any home you think would fit your needs. Today's market definitely rewards the buyer.

Is it more difficult to buy a foreclosed home or short sale?

With an experienced agent, you will find the process of buying a distressed home, is not all that different than buying any other home.

Will I be able to rent my home once I purchase it?

Often you will have to get the home up to the standards of a local property management company but once it is up to standard you can reap the benefit of rental income.

Are you ready to learn more? Join the Outer Banks Foreclosure and Short Sale List

2009 and Outer Banks Tourism

Kevin O'Brien (Coldwell Banker Seaside Realty) — Sat, 03 Jan 2009 16:51:02 -0600

This article is from a local Outer Banks real estate website. According to the many local Outer Banks property managers, the 2009 season does not look bad. Many, myself included predicted a very dire outlook for the 2009 rental season. Initial estimates show that though numbers are slightly off, they are definitely not as dismal as some had feared. It seems many people are still planning on heading to the OBX this year. Initially it seems as if pre reservations are off less than 5% for some. This can only be taken as a highly encouraging sign for 2009. While it is definitely way too early to determine how the season will play out, it does show the resiliency of tourism in the Outer Banks.

Looking for a Beach Home in New Jersey?

Kevin O'Brien (Coldwell Banker Seaside Realty) — Thu, 04 Dec 2008 08:59:13 -0600

For those that follow the blog, they know I love the beach. To me it doesn't matter what beach or where, as long as there is water and an ocean I am happy. That is why I recently have been working to bring a new site to the Jersey shore. Now, it is finally done. So today it is unveiled.

SJBeachHomes.com is the site. It offers some great ways to search for a New Jersey beach house. You can try the map search or just search the Cape May MLS. If you get a chance let me know what you think about it. I would love to hear.

Good post on building a home in the Outer Banks

Kevin O'Brien (Coldwell Banker Seaside Realty) — Wed, 03 Dec 2008 08:18:09 -0600

I recently came across a new Outer Banks Blog, by the folks at Kitty Hawk Rentals. The blog had a very interesting post on building a home in the Outer Banks. I thought I would share the post. It offers some great insight.

Many people want a chance to own the home of their dreams on the Outer Banks. There are many ways, to go about this. Definitely the most popular is to buy an existing home or condo. Buying an existing home or condo allows, you to take almost instant possession. For many this is necessary, as it can be expensive to pay for a home while it is being built. For others they only will be happy with the actual home of their dreams. This means they will have to start with an idea or concept and go from there. Starting with a piece of land and a dream, is one way to truly realize your dream of living on the Outer Banks. Read the rest of Building a House on the Outer Banks.

An Outer Banks Real Estate Market Update

Kevin O'Brien (Coldwell Banker Seaside Realty) — Thu, 20 Nov 2008 07:53:56 -0600

The Outer Banks real estate market as we reported was off for the month of October. Preliminary signs show November also being slow but with increased inquiries. An increase in inquiries is definitely a postive sign. Read the rest of the article

Hope for housing stimulation

Kevin O'Brien (Coldwell Banker Seaside Realty) — Tue, 21 Oct 2008 08:40:52 -0500

It seems as if some members of Congress are looking to remove the capital gains taxes from investment and second home purchases. This would be in an effort to clear up the glut of foreclosures on the market. This would help all markets, even us in Outer Banks real estate. Read more on Second stimulus package and capital gains.

OBX more condos coming?

Kevin O'Brien (Coldwell Banker Seaside Realty) — Fri, 17 Oct 2008 08:05:21 -0500

Recently along the Outer Banks we have seen an increase in the number of condos being built. Driving along the "Beach Road" you see a number of new complexes going in on the oceanfront. This new oceanfront condos are expected to be luxury units. This is definitelty a growing demand for more luxury condos along the Outer Banks.

Read the rest of Outer Banks Condos

Sometimes 1+1 is the best way to go

Kevin O'Brien (Coldwell Banker Seaside Realty) — Tue, 14 Oct 2008 07:54:35 -0500

For many people trying to find the perfect house can be difficult. Often there can be something that holds them back. For many people buying land and then building a home on it can offer them the home they envisioned. This process though often taking longer can be very rewarding. In the end you have exactly what you desire.

Read more about buying land in the Outer Banks

Buying in the Outer Banks

Kevin O'Brien (Coldwell Banker Seaside Realty) — Sat, 11 Oct 2008 09:47:22 -0500

One of the most sought after areas to buy a home or land is oceanfront. Oceanfront lots and homes draw a premium price. Though the initial cost may seem high, oceanfront homes typically draw much higher rents and more rentals than comparable homes located anywhere. Read more about buying an Outer Banks oceanfront home or lot.

This year for Outer Banks Tourism

Kevin O'Brien (Coldwell Banker Seaside Realty) — Thu, 09 Oct 2008 08:43:16 -0500

Well it seems this year is going to be a much stronger year than expected for tourism along the Outer Banks. This is great for the many businesses and home owners along the Outer Banks. It seems economic fears and high gas prices did not keep people from visiting. The visitors bureau has recently put out some statistics for the month of August. Read more on Strong Year for Outer Banks Tourism

This Weekend in the OBX

Kevin O'Brien (Coldwell Banker Seaside Realty) — Wed, 08 Oct 2008 13:10:52 -0500

For all the Outer Banks wine afficenados and enthusiasts this is a popular weekend. This weekend is the annual Outer Banks International Wine Festival. It is sponsored by Native Vine and features over 50 wines from throughout the world. It is definitely a fun weekend event. For more information on the wine festival you can check out: Outer Banks Wine Festival

1st in a series on vacation home economics

Kevin O'Brien (Coldwell Banker Seaside Realty) — Mon, 06 Oct 2008 13:45:51 -0500

Since there are many ways to value properties that generate income, I thought it would be an interesting series to do. The 1st post, in the series is on capitalization rate. It is one of the simplest ways to value properties that have rental income. It allows you to value homes from different towns of the Outer Banks side by side.

US housing prices still falling

Kevin O'Brien (Coldwell Banker Seaside Realty) — Wed, 01 Oct 2008 08:34:46 -0500

Well the information that has been coming in, has not been great. Home values fell again, but it seems as if the market is nearing its bottom. The amount of the fall has been decreasing, and it seems as if prices are starting to stay near where they are. How long this trend continues is yet to be seen. It would seem with home prices continuing to fall, vacation or investment homes would become more attractive to buyers as their prices fall and rents are staying the same. Outer Banks and US housing decline

Corolla Real Estate Report for September 08

Kevin O'Brien (Coldwell Banker Seaside Realty) — Mon, 29 Sep 2008 08:13:15 -0500

Since it is a major part of what drives the OBX. I thought I would share this link to a report on Outer Banks Real Estate.

Often when the stock market is stressed it is a great time to buy a home, is now any different? Perhaps the most dominant conversation on the lips of Americans today is the “economic crisis”. The crisis specifically refers to the state of the stock market. With the stock market in such a dire way right now, perhaps it is again time to buy Outer Banks real estate. Some Reasons that Outer Banks Real Estate is looking more attractive....

Read the rest of September Outer Banks Real Estate Report.

New Jersey looking to ban drilling how does it affect the OBX

Kevin O'Brien (Coldwell Banker Seaside Realty) — Wed, 24 Sep 2008 11:11:57 -0500

This is a short piece on steps taken by NJ legislatures to ban drilling there. How will there ban affect the rest of the East Coast beach communities especially the beaches of North Carolina?

It seems as if the political leadership in New Jersey is against the prospect of offshore drilling along the Atlantic. Both New Jersey senators and governor are against offshore drilling.

Read the rest of New Jersey rallies against offshore drilling

Some thoughts on off shore drilling and the Outer Banks

Kevin O'Brien (Coldwell Banker Seaside Realty) — Wed, 17 Sep 2008 11:35:41 -0500

With many of us agents and Americans making our livelihood from the coasts, offshore drilling would definitely have a long term effect on the viability of our markets. Here is some additional news on offshore drilling and the Outer Banks.

With the House passing yesterday's bill to allow offshore driling, how will that change the landscape of our coasts? For many who own vacation or investment homes in places like the Outer Banks, it is a Hot Topic. How will home prices in this market react to the news? There are many variables that will effect each state's vote. Locally some websites have been covering the topic. Here are some interesting points of view. Outer Banks Real Estate, Outer BanksPropertyManagement, Outer Banks Beach Blog

Nags Head Beach Nourishment

Kevin O'Brien (Coldwell Banker Seaside Realty) — Fri, 12 Sep 2008 08:41:04 -0500

It looks like beach nourishment is coming to Nags Head. It should be a positive influence on Nags Head real estate. I guess we will have to wait and see. Here is the rest of the article.

Outer Banks Marathon

Kevin O'Brien (Coldwell Banker Seaside Realty) — Thu, 11 Sep 2008 13:59:34 -0500

Someone was so kind as to send me this message this morning
It's coming soon, have you started training yet?
The OBX Marathon