Archives for January 2014

Build Your New Home by 3 Golf Courses!

8547 Caratoke Highway
Powells Point, NC

8547 Caratoke Highway, Powells Point, NC 27966Great visibility and only minutes from the bridge.

MLS#74541                 $28,000


Contact me for more details

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New Listing!! 738 Cormorant Court, Corolla, NC

738 Cormorant Court, Corolla, NC  27927New Listing!!
738 Cormorant Court, Corolla

$379,000   MLS# 82055

Absolutely charming home tucked into the corner of a quiet cul de sac. Enjoy the surprisingly short walk to the beach through the convenient walkway. You’ll love the hot tub as well as the 11×23 private pool.  This cottage is perfect for your family and friends. The pool deck provides ample space for sunning or entertaining. The kitchen is open and bright.

The deck space on two levels of the home is perfect for shade, sun or
just to enjoy a glass of wine after a day of relaxing at the beach.

New Price!! Possibilities are Endless in Kill Devil Hills!

l3fea7844-m0oThere are so many great features to list for this home!

X Flood Zone in a quiet cul de sac with a real front yard and back yard for the kids and animals. The back yard is fully fenced in. There is a one car garage with a workshop area in the back of the garage. Also, a storage shed in the back yard. The separate laundry area on the way to the garage keeps the noise out of the main living areas. Laminate wood floors throughout. Each bedroom has its own bathroom. Above the garage is finished in two separate rooms. One could be an art studio or an office or game room, media room, the possibilities are endless. The back deck was enclosed to make a beautiful fully heated and cooled sun room with french doors. The kitchen has lots of cabinet space and with a first floor master bedroom and extremely large walk in closet, you’ll find yourself right at home. The roof was recently replaced, new septic and siding and a 2 zone heat pump installed recently.

New Price!! Steps Away to Bulkheaded Canal in Southern Shores!

32 Fairway Drive, Southern Shores, NCExcellent opportunity for comfortable one floor living. This solidly built brick home in Southern Shores, was a contractors home. 2 bedrooms share a bath on one end of the home, while the master bedroom, HUGE walk in closet and HUGE master bath with double sinks make up the opposite end. Oversized Master Bath shower with all tile and two shower heads. Extra large kitchen with eat in area, dining room and living room with an extra office AND media/TV area.

The solid brick deck spans the entire back side of the home!  Great for cookouts.

Just a few steps away to the bulkheaded canal for all your boating fun.

Tons of parking in addition to the 2 car garage.

New Listing! 882 Whalehead Drive, Corolla, NC

882 Whalehead Dr Corolla, NC 27927

882 Whalehead Dr, Corolla
MLS# 81876

This home has been well maintained and it shows. New carpet in 2012 and new tile on the ground floor. When you enter on the ground floor to the game room with refrigerator and wet bar, a full bath and a bunk room. There is a slider out to the pool area as well. Mid way up to the second floor, for added privacy, off the landing is a king size master bedroom with full bath. Another master and two additional bedrooms and bathroom complete the second floor.

Once again a mid way up the landing to the 6th bedroom, another king master. The top floor is spacious and open with lots of light and windows. There’s a large kitchen perfect for cooking your vacation feast. Plenty of dining area. A large living room to catch the game and also a card table. The spacious decks offer a decent ocean view as well as wonderful privacy to the back of the home for watching the sun go down. The pool is above average also at 15×36 there’s plenty of room for your family to swim and enjoy.

Recent improvements: New sliding doors, new TV, blue ray player, new dishwasher, pool motor and filter upgraded with timer added, new pool cover, new front door.

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Corolla Home with Great Rental Potential for 2014!

This well cared for Ocean Sands home has everything you’re looking for. From the expansive top floor deck that wraps 3 sides of the house, to the 6 bedrooms, game room, private pool, ample bathrooms, dining room, open concept kitchen, comfortable family room and it’s cheery, bright decor! You can walk to the beach in minutes. Corolla has some of the most beautiful beaches in North Carolina.

Close to shopping and restaurants and the perfect area for your entire family to gather. Excellent rental income as well. Due to limited availability by current owners this home is not rented at its max.

New Price!! Bank Approved in Corolla!!

4244 Poor Ridge Road, Kitty Hawk, NC

You won’t want to miss out on this FANTASTIC opportunity!! The home already has BANK APPROVAL!!! Act now for quicker closing!!

You will love coming home to this custom built extra large home on one of the most popular streets in Kitty Hawk. So much attention to detail was paid when building this excellent family home. First floor master, HUGE bathroom, 2 closets, hall bath, gas fireplace with stone face, Australian Cypress floors, formal dining room, office area, pocket doors, pantry, large laundry area, huge eat in kitchen with Jenn-Air, wine cooler, butcher block island, granite countertops and stainless appliances all make up the first floor. The extra large garage has 10 foot doors for taller vehicles.

The second floor has a HUMONGOUS game room over the garage with wet bar, two additional large bedrooms share a jack an jill bathroom, also large. Plenty of storage space and an easy flow.

The back deck off the master has a hot tub. This is a lot of house for the money and in excellent condition!

The 2013 Outer Banks Real Estate market review

The most important trends we saw in the last 12 months are as follows:

  • Residential units sold were down 2% (34 units)
  • Average sales price was down by 5% ($17,743)
  • Average sales price was $348,598
  • Distress sales units sold down 21%
  • The majority of this decline happened in the last 6 months of 2013
  • Land sales were up by 14%
  • Average price for land down 23%
  • Active inventory remained high and appears to be climbing again

The conclusions we can draw from this data are that the market looks like it wants to stabilize. With sales staying active and pricing not seeing a sharp decline that points firmly in that direction. However, cause for concern is still the increasing inventory and the fact that December foreclosure numbers went back up again.

It remains a great time to buy a home on the Outer Banks as interest rates are still under 5% and are expected to stay that way well into 2014. There’s plenty to choose from if you are looking to make an investment this year.

For those thinking of selling, it’s not ideal as far as pricing is concerned. However, weigh the difference between the current market value and the cost to keep the home waiting for prices to rise and you could see it makes more sense to sell now. There will be a turn around for pricing, just not in the short term.

For 2014 here’s what we are predicting:

  • Residential units sold should remain about the same
  • Average sales price could see another dip with inventory levels being so high still. It should stay in the 5% range.
  • Average sales price should remain about the same
  • Distress sales should stay down but more data is needed to be certain
  • Land sales will continue to go up as the prices drop. The cost of building new is starting to be less than buying existing.
  • Inventory will spike at the usual times around March/April and again in Septebmer/October.

The Outer Banks is a year round market. If you have thought about selling, there is no real financial advantage to waiting to put your home on the market. The best strategy is beating the supply and demand issue. Listing now, before Spring, will get you in front of buyers looking this year with less competition for them to choose from and potentially netting you more.

Please let me know how I can help you further. For a search of the best homes available click here. To get a free market analysis on your home click here.