Maintaining a house is like cleaning. By the time you clean all the rooms in your home, it is time to start over! One way to secure some sense of mental salvation and keep from worrying about completing a long list of house maintenance projects is to create a list. Yes, it is simple, but it does help to provide a road map for upcoming house projects. Continued on the next page…
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December is an ideal time to set aside time to make a comprehensive list of everything the house could need in the year ahead. Include projects that maybe aren’t needed but sure would be nice to have. Keep in mind that you can add or subtract projects anytime or simply move them to the bottom of the list. Once your list is completed, review it monthly. Like any good road map, it keeps you going in the right direction, and that forward movement can be very satisfying. Have fun while you’re at it and sing along with the song as you are “making your list, and checking it twice.” ‘Tis the season, after all. Know that doing this one task will help you manage what can otherwise feel like a never-ending job.
closing statement. This would have been provided to you by your closing attorney if the property was in North Carolina. You may have received it in a hard copy, or you may have received it electronically. If you are having difficulty locating your closing statement and a realtor assisted you with the sale of your property, he or she may be able to provide you with a copy.
The closing statement to a real estate transaction can contain many potential tax deductions. The line items on the closing statement differ depending on whether the property is business (rental) property or used as a personal residence.
How did it get to be the end of 2024 already? Wasn’t it just the 4th of July? Well, it’s here! Some of you are preparing to spend time with family and friends and some may be spending time organizing your records for 2024.
If you plan to do the latter, and you sold real estate that closed in 2024 you may want to take this time to locate your
Some of you may need to gather additional information to determine your cost basis in the property you sold. Your tax preparer can assist you with examples of documents, records and receipts you should locate. Always consult a tax professional!
And on that note, if you and your loved ones discuss selling the beach house over the holidays call your tax professional first and find out how it will impact you personally. Then be sure to make your friends at Coastal Carolina Vacations and Sales your second call! Our sales team is here to help you in 2025!
The Outer Banks may appear to be a series of sleepy beach towns, but, whether you are into water sports, a history buff, sportfishing aficiando or a nature lover, you will be pleased to find it all on the Outer Banks!
It’s always the season for shopping local on the Outer Banks but shopping local over the holidays is a must for me! I love the festivals, the bazaars, farmer’s markets and all the cheer they bring with them. Our community has a wide range of talented artisans! Over the years my family and friends have been spoiled by the one-of-a-kind pieces of jewelry, glassware, pottery, paintings, baskets, candles, jams and jellies I’ve gifted them when I shopped local over the holidays. It’s easy to find lists of events from Hatteras Island to Corolla this time of year. Just consult your favorite search engine!
I also support our loyal storefront establishments over the holidays! It would be hard to pick a favorite because there are so many wonderful shops up and down the beach. It’s never too early to start marking a few gifts off that list, so get shopping!
Aside from spending Christmas with our adult kids, our favorite newer holiday tradition is hosting several friends at an oceanfront house for several days over New Years. We will typically visit the bars participating in the “12 Bars of Christmas” and otherwise enjoy spending quality time with great friends. We all appreciate the serenity of the beach in the winter.
My favorite holiday activity on the
My favorite holiday activity on the Outer Banks is the WinterLights at the Elizabethan Gardens in Manteo. The gardens are beautifully illuminated throughout the 10 acres making it feel like a true winter wonderland. The displays seem to get better each year. We enjoy taking our dog with our family and friends and strolling through the various Christmas displays and holiday décor. There is a
crackling firepit with s’mores, making for a festive atmosphere with live entertainment on designated nights throughout the season. It’s a great way to kick off the holidays and take in the joy of the season.
One of the special joys of Christmas on the Outer Banks for me is Kites with Lights on Jockey’s Ridge. Multicolored lights, white lights, blinking and solid burning lights, big lights, little lights, lights placed by design, randomly scattered lights, and best of all Kites with Lights. Kites with Lights is a fairy land of lights that brightens the night sky and is guaranteed to bring joy to all. Hosted on the Saturday after Thanksgiving each year, 4:00 to 7:00 pm, at Jockey’s Ridge State Park in Nags Head, NC. The event is free.
• Inventory is up 45% over November ’23. Yet 40% below the pre-COVID range for active Residential Listings of 1200–1500.
• YTD sales are down 4% from 2023.
• Listings under contract are down 34% from November ’23.
• On average, listings are selling at 96.6% of list price, down 1% from a year ago.
• Though Units Sold are down slightly from pre-COVID year of 2019, property values remain about 60% higher than the 2019 values.
• The Average Days on Market this year is 55 days, slightly higher than this time last year, but still historically low.
DATA
FOR BUYERS:
1. Get pre-qualified from a local OBX lender.
2. Be ready to move quickly on your chosen listing.
3. Be prepared to offer some amount of Due Diligence Fee to the seller with your Offer to Purchase.
4. For cash offers, make sure you have a Proof of Funds verification letter.
5. Shopping for homeowners insurance should be a top priority upon getting a listing under contract.
FOR SELLERS:
1. Make sure your agent uses a professional photographer for listing photos.
2. Address any known repair issues.
3. Know your closing costs:
a) Realtor Commission;
b) Dare County Transfer Tax @ 1%;
c) NC State Stamp @ .2%;
d) Closing Attorney ~$500; and
e) Prorated property taxes & HOA dues
Interested in receiving an accurate assessment of your home’s current market value?
Call our experienced sales brokers at 252.489.2121.
