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Outer Banks Real Estate Update www.HometownOBX.com

APRIL 2010

Real Estate Update Matt Huband, SFR PO Box 2223 Kitty Hawk, NC 27949 Office: 252-255-0221 Cell: 252-480-9283

Don’t forget to create a Listing Manager Account to save all of your favorite listings . It’s free and easy to use!!

Incredible!! That is the only word to describe the first 3 months of the year for the Outer Banks real estate market. Here are a few statistics that should grab your attention:

10%- That’s how much prices are UP compared to 2009

Just Listed Outer Banks Foreclosures

20% increase in the # of houses under

Just Listed Outer Banks Short Sales

27% increase in the # of houses sold

contract than this time last year.

than this time last year. This spring has seen a phenomenal number of buyers descend on the Outer Banks to take advantage of the rock bottom prices. Just in the last 45 days I put 7 houses under contract. Out of the 7 only 1 was a distressed property. All of the others were just great deals and there are more to be had.

While the foreclosure market is still hot you have to be prepared to come in at full or above full price. The most recent statistics show that in the last 30 days almost 50% of all of the foreclosures sold at or above full price. The other 50% sold less than 3% of the list price. Same for the short sale market although wait times to get deals closed are still in the 4-6 month range. I just recently closed a short sale that took over 8 months from contract date to closing. As I have mentioned in previous news letters mortgage rates are on the way up. Many economists are predicting that by the end of the year mortgage rates will start to approach the 6% range. Time to lock in a low rate now!! Weekly vacation rentals for 2010 are ahead of last year according to many of the rental companies. That means people are going on vacation which equals strong rental income if you are looking for an investment property. Is it a great time to be a buyer?? YES

Help Preserve Public Access To Seashore Beaches For the last few years the Outer Banks has been under attack from a group of well funded and connected environmentalist that want to close all public access to Cape Hatteras National Seashore. All of this over a bird, the Piping Plover, which is not endangered by the way. The Piping Plover has thrived on the Outer Banks long before the environmentalist turned the Plover into their poster child for getting the beaches closed. So far they have prevailed in getting the beaches partially closed throughout most of the year. For over 100 years the public has had free access to drive out onto Seashore beaches to fish, surf, or just spend a relaxing day at the beach.

Outer Banks Weather April Maximum Temperature

69F

Minimum Temperature

51F

Water Temperature

59F

Precipitation

3.1In

Wind

14mph

The public comment period is now underway for the Draft Environmental Impact Statement (DEIS). This long awaited document will determine the future of beach access for the next 10 to 15 years. Because of its importance to our future, public participation is crucial. We need people across the country to make public comments and, if possible, attend public hearings. Keep the beaches open and accessible to the public, just like it has been for over 100 years. To learn more about how you can help click the box

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All information in this newsletter is deemed reliable but not guaranteed.


Outer Banks Upcoming Events April 17 - 24 10th Annual Outer Banks Bike Rally Vertigo Tattoo, Manns Harbor. We will have 8 days of bike contests, the World Famous Wall of Death Stunt Show, live music, vendors, food, beer, bike builders, tattoos, the Burnout Pit and much more. $10 at the gate. Beer proceeds to benefit The Lost Colony, Food and Beverage sales to benefit the Manns Harbor Volunteer Fire Department. (252) 4753541, outerbanksbikerally.net or vertigotatto.comevents

April 23 Kidsfest 9:30 am to 12:30 pm. Roanoke Island Outdoor Pavilion. Pre-school children’s event incorporating several aspects including art/nature/entertainment Brief Description: Children will be able to participate in a variety of play opportunities, including story time, face painting, bubble station, block play, wildlife Olympics, Kindermisik, “Scents”ory table, shark table, music by Steve the Dream and much more. Plus, the very popular fire trucks and Coast Guard will be returning this year. For more information please call (252) 441-0614 or visit darekids.org April 24 Duck and Wine Festival Ticketed event at the Duck Waterfront Shops, Duck, NC, beginning at 12:00-3:00pm. Tickets are $25 each and purchased in advance. Registration is limited. Organized by Coastal Provisions and the Duck Waterfront Shops. Cook-off event with 20 Competing Chefs and Restaurants from Dare, Currituck and Pasquotank Counties. Wine tasting and live music as well. Charitable beneficiaries include the Currituck-Dare Community Fund; the Friends of Jockey's Ridge, the

May 8 27th Annual Yuengling Nags Head Woods 5K Run Not your typical walk down the beach, the dirt trails of the preserve weave through one of the best remaining examples of mid-Atlantic maritime forest and deciduous hardwoods. nagsheadwoods5krun.org, nagsheadwoods5k@gmail.com or active.com May 14 - 17 38th Annual Hang Gliding Spectacular Jockey’s Ridge State Park and Jockey’s Ridge Crossing, Nags Head. The world’s oldest, continuous hang gliding competition. Hang gliding professionals from all over the world come to the Outer Banks to compete and have fun. Demonstrations, street dances and awards ceremonies. (877) FLY-THIS, (252) 441-4124 or kittyhawkkites.com

For more information about Outer Banks events go to Outer Banks Visitors Bureau

Local Outer Banks News Shipwreck Uncovered In Corolla After a winter of nor-easters and high tides a strange thing was uncovered on the beaches of Corolla. After what many had thought to be just debris could be in fact be one of the oldest shipwrecks ever discovered on the North Carolina coast. Local volunteers and experts from the State will help in the excavation process that is planned over the next few weeks. Pretty cool!! Learn more at Outer Banks Shipwreck

Mid-County Bridge Update The bridge overcame a major hurdle when the a report from Environmental Impact Study recommended the bridge be built. In Corolla, the bridge could land close to the Corolla Bay subdivision or near the TimBuck II Shopping Center. In Aydlett, options include a bridge across Maple Swamp with a toll plaza at a proposed interchange at U.S. 158 or a new road through Maple Swamp with a toll plaza closer to Currituck Sound. To read the full article go to Mid-County Bridge 2

All information in this newsletter is deemed reliable but not guaranteed


27th YUENGLING NAGS HEAD WOODS 5K RACE SATURDAY, MAY 8, 2010 - 8:00 AM This unique race is a wonderful opportunity to Have Fun While Doing Good! Celebrate Mom and spend a Spring weekend on the exciting Outer Banks of North Carolina. Enjoy great beaches, nature and history. And while here, run through The Nature Conservancy's Nags Head Woods Ecological Preserve, one of the few maritime forests remaining in The USA. The race starts at 8 AM on Saturday, May 8th. It is an out-and-back course that covers gently rolling terrain on hard-packed dirt/gravel/sand in the woods. North Banks Rotary Club hosts the race – all net proceeds go to support local scholarships and charities, and disabled veterans. For more details got to 5K Race VILLAGE REALTY 1-MILE FUN RUN SATURDAY, MAY 8, 2010 - 9:00 AM All ages can enjoy a non-competitive run or walk in The Nature Conservancy's Nags Head Woods Ecological Preserve. The Village Realty Fun Run starts at 9 AM. It is an out-and-back fun run that covers one mile of the 5K race course. Entrants will receive a T-shirt and a goody bag, and all finishers will receive a Finisher's Award. Runners age 5 and under can run or walk for free if accompanied by an entrant at least 16 years old.

For all of the information on both events check out the 5K website 3

All information in this newsletter is deemed reliable but not guaranteed


Matt’s Outer Banks Favorites outer banks child is a free quarterly magazine providing articles, information, and a calendar of events to families on the Outer Banks of North Carolina with children from birth to the age of twelve. Each issue provides a comprehensive calendar of events for Dare and Currituck counties and beyond. In addition to interesting articles on good health, beach activities, crafts, and green living, each issue showcases a special insert - preschool guide (winter), summer camp guide (spring), party planning guide (summer), and "no batteries required" gift guide (fall). Copies are strategically distributed where families are: grocery stores, preschools, libraries, doctors' offices, area attractions, retail stores, visitors centers, chamber of commerce, and more. The entire publication, and past copies, are also available online

Visit Outerbankschild.com

Outer Banks Restaurant Guide Dining out can be one of the most enjoyable times in a day whether it's a romantic evening for two or taking the whole family out. While visiting the Outer Banks, dining out takes on a whole new feel, be it breakfast, lunch or dinner. From a scenic view of the sound to a roof-top deck overlooking the ocean waves rolling up on shore, there’s something special in the air that always sets a soothing mood.

Check it out online at

Outer Banks Restaurant Guide

The North Beach Sun If you are looking for the 411 for all things Outer Banks then you must pick up a copy of The North Beach Sun. For over 23 years The North Beach Sun has been bringing the Outer Banks to life for locals and tourists. You can pick one up just about anywhere on the Outer Banks. It’s your one stop for all things Outer Banks.

Check it out online at

The North Beach Sun

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All information in this newsletter is deemed reliable but not guaranteed.


Talk To A Lender Call a lender today to see how affordable owning a beach house has become. In about 15 minuets you can get payment options and pre-qualified.

Outer Banks

I recommend the following mortgage lenders: Matt Huband, SFR

Joey Barrow-Prospect Mortgage 252-353-6400 Or 252-714-6572

“The Exceptional Exception” From Corolla to Hatteras

252-255-0221 OBXRealtors@gmail.com www.HometownOBX.com

Linda Barber-Wells Fargo 252-441-7610 Or 800-407-8746

Call or email me today to set up your visit to the Outer Banks and find your beach house!!

Let Joey or Linda know that I gave you their name and they will take good care of you!!

Current Listings

Nags Head Duplex with separate entrances, 3 lots to the beach!! $950,000 Call for information

Nags Head-Westside 3Bd/2Bth Great Fixer Upper w/ pool, close to beach $196,000 MLS#63983 Priced Below Tax

Kill Devil Hills Westside 3Bd/2 1/2 Bth Year Round Home In Great Neighborhood $339,999 MLS#64746

Corolla– Oceansands 2Bd/2 1/2 Bth Condo Easy Walk To Beach Great Rentals $225,000 MLS#62036 SHORT SALE!

Click On The Pictures For More Information Waves Oceanside 3Bd/2Bth Walk to Beach Furnished $225,000 MLS#65036

Waves Oceanside 3Bd/2Bth Walk To Ocean Great beach house $150,000 MLS#65041

Price Reduced

Price Reduced

Kill Devil Hills-Westside 2Bd/1Bth Complete Remodel Classic beach house Close to beach & pier $185,000 MLS#65126

Price Reduced 5

All information in this newsletter is deemed reliable but not guaranteed.


April 2010