Best Buys on the Outer Banks for the week of October 7th
October 7, 2013 By Ilona
Contact Me About Any of These Properties!
Flood Insurance Update
October 3, 2013 By Ilona
Recently WAVY TV-10 interviewed several locals involved in fighting the Biggert-Waters Act of 2012.
To see the Flood Insurance segment WAVY TV10 did click here. There are a couple of different segments so use the cursor to the right to scroll through the coverage.
The segments were edited from lengthy interviews and did not focus attention on the detrimental impact of the loss of “grandfathering”. Under the Biggert-Waters Flood Insurance Reform Act of 2012, when flood maps are revised and updated and the zone and base flood elevation changes on a structure – then the policyholder has to pay the rate that corresponds with that risk. What this means is that if your home was built to or above the FEMA base flood elevation at time of construction, and a new map shows that your home is now in a riskier zone (VE, AE) and below base flood – you could see a premium increase of up to 2000%. The increase would be phased in over five years. Preliminary flood maps are expected to be released in various counties in North Carolina in 2014 but won’t be final and approved until 2015.
Additional concern for selling a home with a changed flood zone or base elevation. The buyer does not get the 5 year phase in, they are billed the entire new risk amount upon purchase. This will greatly affect prices and qualification of buyers.
Affordability studies MUST be done. It doesn’t seem that Congress took this into consideration before passing this bill.
We need everyone to CALL TODAY.
Although there is a government shutdown, you can still contact your representatives regarding changes to the National Flood Insurance Program.
Call Senators Burr and Hagan’s office to support our efforts to delay implementation of the bill.
Please take 5 minutes and contact Senator Richard Burr’s Office (202) 224-3154 and Senator Kay Hagan’s Office (202) 224-6342.
Ask to talk to their Chief of Staff. You may get voice mail – please leave a message with the following three points:
1. I am ________________from _________ and I am asking you to first “do no harm”.
2. Delay the rate increases to flood insurance created by the Biggert-Waters Act until the affordability study is completed.
3. Amend the Act to create true affordability and fairness for all homeowners.
Fall Outer Banks Market Update
October 3, 2013 By Ilona
Traditionally the number of closings for our market spikes in October. We are coming off of an unusually slow previous 6 weeks of activity. However, things have picked right back up. So rather than see the spike of closed sales for October, we will probably see it for November.
There are some great advantages to selling your home in the fall:
- You’ve collected the majority of income for the year and won’t have to carry the home over the winter months.
- Buyers have an opportunity to make changes/remodel the home over the winter to be ready for the next season
- There are fewer homes on the market as many have the mindset they will wait until the Spring to sell.
- Buyers who were just here on vacation generally enjoy a fall visit to look at homes because the weather is nicer and properties are now more available to view.
- Many buyers want to make a purchase before year end for tax reasons
Want to know what your home is worth in today’s market? Email me here for a FREE comprehensive analysis.
Thinking about buying? Be sure to keep an eye on interest rates. Did you know that if rates go up by only 1%, you would have to purchase a home for MORE than 10% less in order to have a lower monthly mortgage payment.
If you’ve thought about buying or selling on the Outer Banks and need additional information please contact me!
New Price on Conveniently Located Lot in Powells Point!
September 26, 2013 By Ilona
8547 Caratoke Highway
Powells Point, NC
Great visibility and only minutes from the bridge.
MLS#74541 $28,000
Fantastic Opportunity on this Extra Large Home in Kitty Hawk!!
September 19, 2013 By Ilona
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!
Contact Me About This Property!
Best Buys for the Week of September 16th
September 16, 2013 By Ilona
Contact Me About Any of These Properties!
Over 8 Acres of Country Living in Kitty Hawk!!
September 12, 2013 By Ilona
8.8 private acres in Kitty Hawk Village with a Vintage 1940 Oceanfront original four bedroom -two bath that was moved to this property in 1991. This home is very solid with T&G Juniper throughout , a brick fireplace and TONS of charm. The lot has two nice ridges and the home did not get wet during Irene.
There are fruit trees and two outbuildings with Power – one of them has two 220 outlets and is ready for your workshop pleasure. Be the first to make an appointment because this is a nice chunk of Kitty Hawk.
Country style Living at the beach- Bring your horses, goats, chickens and settle in.
Check out this Fabulous Southern Shores Home!
September 10, 2013 By Ilona
Excellent 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.
Best Buys on the Outer Banks for the week of September 9th
September 9, 2013 By Ilona
