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Outer Banks Real Estate Update

MARCH 2010

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

Attn: iPhone Users You can now get access to the Outer Banks MLS with my new iPhone App!! Go to my website and on the right column click the iPhone App logo

To say 2010 is off to a great start is an understatement. This year there has been 186 closings, 31% more than at this same point last year. In 2010 the average sold price of a house is up 12.6% from the end of 2009 and 13.5% from October „09, the last month prices declined. With the pace of buyer activity not slowing down I think we will continue to gain momentum. The majority of the homes sold, 75% continue to be in the under $500,000 category. However there is more movement in the higher price ranges mostly due to the easing of obtaining Jumbo Loans plus with decreased pricing and solid rental income those homes are getting 8-10% Gross Return on Investment (ROI). That makes for an attractive return that we have not seen on the Outer Banks for years. The majority of rental management companies are reporting strong pre-bookings for the 2010 rental season. These bookings are ahead of last years pace which are helping to lead the way for these houses to have a strong ROI.

There is another interesting statistic I just discovered that shows the market is coming back. For the first 2 months of the year the average price of a house under contract, $383,543, was lower than the average price of a sold house, $386,181. Normally houses sells for less than the listed price. I have not seen houses sell for more than the listing price since the “boom days” of 2001-2005. For the 186 closed sales this year buyer‟s on average are paying more than full price. We are not back to the “boom days” and most of this can be attributed to multiple offers on foreclosures/short sales. The point is that buyer‟s are now realizing that our market has turned a corner and they are taking advantage of it. They realize that prices are at 7 year lows, prices have stabilized and rental income remains strong. That‟s a great combination!! Low prices + strong rental income= Great Opportunity !!

Just Listed Foreclosures & Short Sales Outer Banks Weather March Maximum Temperature


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I am always working to bring you the latest and greatest ways to make searching for an Outer Banks beach house as easy as possible. Since many people are interested in distressed properties I was able to put together 2 links that will now pull all of the newest Outer Banks Foreclosure & Short Sale listings as they hit the market. The 2 links will be updated everyday!! Once you click on the link and add it to your favorites your done!! Check back daily to see all the new listings!! Just Listed Outer Banks Foreclosures Just Listed Outer Banks Short Sales Don‟t forget to create a Listing Manager Account to save all of your favorite listings . It‟s free and easy to use!! 1

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

Outer Banks Upcoming Events March 11 - 14 3rd Annual Shamrock Show and Hooters Poker Run Presented by the First Flight Cruisers. March 13 Kelly's 2nd Annual Running of the Leprechauns 8K Nags Head. 9 a.m. A truly GREEN event! Runners and Walkers embark on a 8k/5 mile point to point course including road and trail (through part of the Nags Head Woods Conservancy) for a share of Kelly's "pot of gold", GREEN GLORY, and fun! Awards and post race celebration and hospitality is held immediately following the race at Kelly's Tavern.

March 14 Kelly's 21st Annual St. Patrick's Day Parade Virginia Dare Trail/The Beach Road, MP 11.5 - 10.5, Nags Head. 1 p.m. Rain or Shine. The largest St. Patrick's Day Parade in North Carolina travels the GREENEST mile in the Tarheel state. Americana "Home Town Beach" parade IRISH Style. Over 1,500 participants and approximately 10,000 spectators enjoy a GREEN afternoon filled with floats, live music, marching bands, and creative marching/walking/motorized units.

April 3 Kitty Hawk Kites Easter Eggstravaganza Kitty Hawk Kites, Nags Head. Largest Easter egg hunt on the Outer Banks! Over 2,000 candy and toy-filled eggs are waiting to be collected. (877) FLY-THIS, (252) 441-4124 or

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, or vertigotatto.comevents

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

Local Outer Banks News Beach Access Battle Heats Up For 2010

Get The Latest OBX Traffic Updates

The battle over beach access on the Outer Banks continues. Dare County Commissioners have formally rebuked a request to restrict all activities at the Cape Hatteras National Seashore, all year long. The commissioners call the Audubon Society's request "extreme." Warren Judge, Chairman of the Dare County Board of Commissioners explained, "The consent decree closures have already had a devastating impact. To close the beaches even further would be a prescription for economic suicide for the hard-working Americans serving the visitors of the Cape Hatteras National Seashore Recreational Area."

Everyone hates the summer traffic when traveling down to the Outer Banks. Now you can see live traffic with the Outer Banks Traffic Cams. Click on the link to see how traffic is moving from the town of Grandy all the way to the Outer Banks down to Duck thru Kitty Hawk, Kill Devil Hills, and Nags Head.

To learn more go to

Also Dare County just announced a new service to alert residents and tourists about flooded or impassible road conditions. Dare County Public Roads on the County’s website will be updated as hazardous road conditions change. 2

All information in this newsletter is deemed reliable but not guaranteed

8th Annual Outer Banks Bike Week™ Sunday to Sunday April 18th-25th,2010 The 8th Annual Outer Banks Bike Week™, the premier rally on the East Coast, is gearing up for a full week of great riding and entertainment. The rally takes place Sunday, April 18th through Sunday April 25th this year. Many riders have decided to forego the hassles of Myrtle Beach and opt to spend their time and money in the Outer Banks where they’re welcomed by all the towns and locals in the area. The Outer Banks is a 100-mile stretch of barrier islands along North Carolina’s northeastern coast. It offers some of the most scenic bike riding in the state, including four lighthouses, a ferryboat ride to Ocracoke Island, the Wright Brothers National Memorial, the mysterious Roanoke Island and Cape Hatteras National Seashore. Always in America’s Top Ten Beach listing, the Outer Banks ranks up there with Maui and Kauai Hawaii. There will be over 100 venders at 5 different sites and live music all over town including a stage at Outer Banks Harley-Davidson. Bike shows abound at three locations. Other highlights include a poker run, pig pickin, pin stop, guided tours, chopper builders, stunt riders and of course every night one of the local clubs is designated as the Official Party Central.

For more information go to Bike Week 2010


All information in this newsletter is deemed reliable but not guaranteed

Matt’s Outer Banks Favorites Looking to catch some waves up north in Duck and Corolla?? Check out Corolla Surf Shop for all your Surf & Skateboard needs Boards, Clothing, Accessories, Surf Report and Lessons. You can find it all at

Corolla Surf Shop 807 Ocean Trl Corolla, NC 27927 252-453-Wave

For those unfortunate souls who've never been to North Carolina, we'll put it this way: Secret Spot Surf Shop is the Frog House of the Outer Banks. This grassroots, homegrown shop is dripping with flavor and personality -- just like its West Coast counterpart.

Secret Spot Surf Shop 2815 S Croatan Hwy, Nags Head NC 27959 252-441-4030

Whalebone Surf Shop has been serving the needs of surfers on the Outer Banks of North Carolina since 1975 and Virginia Beach, Virginia since 2001 Come visit our Surf Shops in Nags Head and Virginia Beach to see why Whalebone Surf Shops has been the hardcore surfer’s destination on the Outer Banks for over 30 years.

Whalebone Surf Shop 2214 S Croatan Hwy - Nags Head, NC 27959 TOLL FREE 877-855-1975


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


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 $235,000 MLS#62036 SHORT SALE!

Click On The Pictures For More Information Waves Oceanside 3Bd/2Bth Walk to Beach Furnished $275,000 MLS#65036

Waves Oceanside 3Bd/2Bth Walk To Ocean Great beach house $215,000 MLS#65041



Kill Devil Hills-Westside 2Bd/1Bth Complete Remodel Classic beach house Close to beach & pier $199,000 MLS#65126


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

March 2010  
March 2010  

Matt Huband, SFR PO Box 2223 Kitty Hawk, NC 27949 Office: 252-255-0221 Cell: 252-480-9283 I am always working to bring you the latest and gr...