Page 1

Outer Banks Real Estate Update www.HometownOBX.com

NOVEMBER 2009

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

Check out the newly redesigned website

HometownOBX.com The new website is 10X better than before with some awesome new features. Check out the newsletter for more information.

Wow!! October was a great month for the Outer Banks real estate market. For the month of October there were 172 listings put under contract. That’s the most houses to go under contract since May 2006!! The momentum has been building since January and there are no signs it’s going to slow down this month or in the near future. The number of sold homes in October was over 100 for the 6th consecutive month. Also for the 4th month in a row the number homes sold outpaced the number of new listings. Inventory is slowly being sold off which is another sign of a stabilizing real estate market. Most of the Realtors I have talked to on the Outer Banks are starting to get a sense from their buyer’s the market has turned a corner. Showing activity has been strong and when realistic offers have been made sellers are willing to sell. Competition for foreclosures has been intense with most getting multiple offers within days of being listed. As more and more houses are sold the tide will slowly turn back to the sellers.

Why buy a house on the Outer Banks now? Answer: It’s a Buyer’s Market!! The rental season is over and sellers are no longer getting those rents to help cover the mortgage. Buyer’s still have a nice selection of homes to choose from and prices are back to 2003 levels. Homes are still selling on average of 7-10% of the asking price. Mortgage rates are still around 5% but forecasted to rise in the coming months. One of the biggest reasons to buy now is you put yourself in a position to receive 100% of all the 2010 rental income!! Rental income starts to trickle in around March/April. Not to mention you get a full year of homeownership for tax purposes. Plus put a house under contract now to close in December or January and you don't make your first mortgage payment until February or March. It all adds up to a great opportunity to buy real estate!! Contact me to book your trip to the OBX Don’t forget to check out the newly revamped www.HometownOBX.com

HometownOBX.com-New Look & Ready To Go After about of month of work I am really excited to unveil the new design and improved features of my website www.HometownOBX.com. Since most people start by looking on the internet I wanted to make the site as user friendly as possible while adding the latest MLS search technology available. Here are some of the changes and great new features:

Outer Banks Weather Nov Maximum Temperature

63F

Minimum Temperature

48F

Water Temperature

58F

Precipitation

3.4In

Wind

Listing Manager– With the Listing Manager you can create your own account on the website where you can save listings, customize searches, and have new listings that match your search criteria e-mailed directly to you. No more having to right down MLS#’s or remember which listings you liked, when you create your account it’s all there in one place. It’s quick and easy to sign up! New Listing Links-When you go to the home page there are now quick links to each of the towns listing page. On each towns page you will find quick links broken down by price, foreclosures, short sales, lots, condo’s and oceanfront listings.

14 mph

Foreclosure/Shot Sale Page– All new Foreclosure and Short Sale page with quick links to each towns listings plus pictures of current foreclosures and short sales. Advanced MLS Search– Customizable MLS search option makes finding the right house easy 1

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


Outer Banks Upcoming Events November 3 - 8 Wings Over Water The Wings Over Water Wildlife Festival is a six-day celebration of the wild side of the Outer Banks region of North Carolina, is set for Nov. 3-8, 2009 which spans Veteran's Day weekend. The festival offers over 85 programs in themes ranging from paddling and wildlife photography to birding, natural history, and more! To learn more about the Wings Over Water Wildlife Festival call 252-216-9464 or go to wingsoverwater.org November 13 Short Film Festival 7 p.m. The Film Theatre at Roanoke Island Festival Park. This is a fund-raising project for the Dare County Arts Council. Admission is $8.00. For more information please visit roanokeisland.com

November 26 The Outer Banks Gobbler 5K Thanksgiving Day 8 a.m. Presented by the Outer Banks Running Club. Run, Walk, Stroll, or Trot through The Village of Nags Head on a crisp Holiday morning! This is a fun family and community event. The overall winner receives a pumpkin cheesecake, 2010 Gobbler 5K Registration, and a full cooked turkey for their return trip 2010 Thanksgiving Dinner! Prizes/Raffle. In the spirit of the Holiday, a food drive will be held for the Beach Food Pantry. Complete Details Available

November 26 14th Annual Advice 5K Turkey Trot Duck. A great warm up for your Thanksgiving Feast! Starting on Scarborough Lane in Duck with a finish line full of post race festivities. Runners and walkers of all abilities and ages are welcome. active.com

November 27 - 28 Kitty Hawk Kites Hangin’ with Santa & Kites with Lights Kitty Hawk Kites, Nags Head. Children can have their free photo taken with Santa in a demonstration Hang Glider. Watch the night sky magically transform as skilled flyers maneuver their lit stunt kites to the sounds of your favorite holiday songs atop Jockey’s Ridge State Park. (252) 441-4124, (877) FLY-THIS or kittyhawk.com

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

Local Outer Banks News Outer Banks Scenic Byway Receives National Recognition The Outer Banks Scenic Byway received national status on Friday as one of America’s Byways®, placing NC Highway 12 on the map, so to speak, for its fascinating coastal heritage and unique natural landscapes, making the leg of the historic two-lane highway from Nags Head, NC to Down East a perfect autumn drive for exploring the beauty of the barrier islands and connecting with the coastal communities that set the destination apart. “The Outer Banks touch people in different ways. Part of that connection, whether it is to the beach, or the landscape, or to the memories made while vacationing here is inextricably linked to the drive,” explains Lee Nettles, managing director for the Outer Banks Visitors Bureau

Mid County Currituck Bridge Scheduled To Start 2010 The Virginia Pilot reported today that construction on the Mid-County Currituck Bridge is scheduled to begin in February or March next year. While there are still many details to work out it is seems that after 20 years the bridge will finally get built. Once completed, scheduled for 2013, the bridge will help ease the summer traffic coming onto the Outer Banks for everyone. Those tourists traveling to Corolla will save at least an hour of travel time if not more by using the bridge. For many it will be a huge sigh of relief when this bridge is finally done. To read the article go to “Shortcut To Paradise”

2

All information in this newsletter is deemed reliable but not guaranteed


This chart represents the total number Sold & U/C homes on the Outer Banks from January 2005 to Present Market Peak 8/05

Market Bottom 1/09

3

All information in this newsletter is deemed reliable but not guaranteed


Matt’s Outer Banks Favorites Billy’s Seafood For some of the best, freshest, local seafood on the Outer Banks then take a trip down Colington Rd to Billy’s Seafood. They have shrimp, crabs, oysters, fish, and anything else that swims around the Outer Banks! 1341 Colington Road Kill Devil Hills, NC 27948 252-441-5978

Austin Fish Company offers fresh seafood retail and wholesale. They are the oldest in the area and offer a wide range of fresh seafood including: fish, shrimp, scallops, clams, oysters, King Crab legs, lobster tails, steamed shrimp and crabs. 3711 S Croatan Highway Nags Head, NC 27959 252-441-7412

Risky Business Seafood Co. For the freshest shrimp, fish, scallops, crabs and clams, Risky Business is a trusted name in seafood. They'll steam up spiced shrimp or crabs for you to take out if you don't want to cook yourself. Risky Business also offers complete processing of your catch, from cleaning to vacuum packaging to freezing.

40658 NC Highway 12 Avon, NC 27915 252-995-7003

4

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

“The Exceptional Exception” From Corolla to Hatteras

Matt Huband

252-255-0221 Ext 2 MattHuband@HometownOBX.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 4Bd/2Bth Great Fixer Upper w/ pool, close to beach $199,000 MLS#63983 Priced Below Tax Value

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

Click On The Pictures For More Information

5

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

Nov 2009  

One of the biggest reasons to buy now is you put yourself in a position to receive 100% of all the 2010 rental income!! Rental income starts...

Advertisement