January Snapshot for the Outer Banks

January 30, 2013 By Ilona
After coming off such a strong year in 2012, I’m sure you’re wondering how things are going so far in 2013.  Here’s a snapshot of what’s been happening on the Outer Banks for January.
  • Surprise!  No news to report on the Mid-Currituck Bridge
  • Actual Surprise – It SNOWED!  It’s all gone now, but it was fun for a day
  • The Great White Shark Mary Lee was cruising around Hatteras
  • I was named Beach Realty’s 2012 Agent of the Year
  • Sales for January have been STRONG. Over 50 properties CLOSED so far
  • Over 200 properties have already had a price adjustment in January
  • Nearly 200 new listings came on the market
  • When priced correctly multiple offers are coming in!
  • When priced correctly properties are selling within 30 days of listing
Outer Banks 2013 Housing MarketLast year I predicted the sales for 2012 would increase 15%.  The actual number was 21%!  It was even better than I thought.  This year I predict a similar trend.  With the activity in the market so far we should easily exceed the number of sales over last year again.  I also predict we will see a stabilization in pricing…no real movement up or down.
So here’s the question…how can I be of help to you this year?  What is your strategy for making the most of the 2013 market?  What are your thoughts on how this year is going to play out?  I’m interested to create this dialogue with you, so I can be sure to provide you with the most relevant information.
Stay warm and talk soon!
Filed Under: Home Buyers' Tips & Advice, Home Sellers' Tips & Advice, OBX Real Estate News & Data, Outer Banks Good Living Tagged With: , , , ,

Tax Re-evaluation, Bridge and other news

September 26, 2012 By Ilona

Fall is officially upon us and the weather here in Duck has been phenomenal.  This is by far the best time of year to visit the Outer Banks and I hope you’ll be able to take advantage of it as well.

In fact, you may already be planning a visit over Columbus Day Weekend.  If so, you’ll notice the annual Parade of Homes happening.  This is a big event for us and is a great opportunity to see the latest trends in building.  If you can’t make it, be sure to take a look at the full tour online…

You may also remember a brief note in a previous email about the 2012 Tax Re-evaluation that is taking place now.  The latest assessments for Dare County will be available to homeowners in January 2013.  Keep in mind, tax assessment is not designed to determine market value for the property, rather for the purpose of assessing taxes equally among property owners.  If you’re interested in more information you can visit Dare County’s website on the topic here.

Now for the latest Mid-Currituck Bridge update…the Joint Legislative Transportation Oversight Committee has scheduled a meeting to give an update on this project for October 8th in Raleigh.  If you have an interest in this be sure to contact Representative Owens with your thoughts.  You’ll also notice on the Turnpike Authority website regarding this project that the completion date has been pushed once again to January 2018.

Lastly, sales continue to be very strong here.  There’s overall a 19% increase in the number of sales so far this year over last year.  However, last month we saw a huge spike in foreclosure filings for Dare County.  No one is really sure what caused the increase.  The point is we aren’t ready for any appreciation just yet.  It remains a great time to buy and for those selling a wonderful opportunity to take advantage of the increased buyer activity.  Let me know if you need any data on the market.

Filed Under: OBX Real Estate News & Data, Outer Banks Good Living Tagged With: , , ,

Outer Banks Update July 24, 2012

July 24, 2012 By Ilona

Sales activity continues to be higher than last year.  June finished with a 19% increase of sold properties over June 2011.  Properties going under contract are still on the rise as well.  Typically the summer months see a bit of a slow-down in activity, which we have, yet still maintained the increase.  I suspect the Fall Market will be very strong indeed.

Pricing seems to be stabilizing.  Some towns are still declining while others are holding steady.  For specific information on your location send me an email and I’ll get you a report.

The study on erosion in Duck is underway and the results of Phase I of this study will be presented to the public on August 15th at 1 pm.  For more information click here.

There is no new news on the Mid-Currituck Bridge.  We’re not expecting any updates until the end of this quarter.

As you can tell, I have a brand new website launched!  This site is very user friendly and should provide you with all the searching tools needed to find out what’s for sale on the Outer Banks.  I encourage you to check it out and take a look at my blog. If you haven’t done so already – follow me on Facebook, Twitter & / or Linkedin!

Doing a short sale in North Carolina is about to change.  The NC Association of Realtors recently made several revisions to the Short Sale Addendum.  For a quick video on the most impactful changes click here.

That’s all for this month.  As always if I can answer your real estate questions please contact me!

Filed Under: Home Buyers' Tips & Advice, Home Sellers' Tips & Advice, OBX Real Estate News & Data, Outer Banks Good Living Tagged With: , , ,