Post on 22-Feb-2016
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Outer Banks Real Estate Update
Matt Huband, SFR
PO Box 2223
Kitty Hawk, NC 27949
Office: 252-255-0221
Cell: 252-480-9283
Fax: 1-866-902-4479 ———————————
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Outer Banks Weather
Real Estate Update
SEP/OCT 2010 www.OBXRealtyGroup.com
All information in this newsletter is deemed reliable but not guaranteed.
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Distressed Properties are Hot! The last three months have shown a steady
rise in the inventory and sales of distressed
properties. Specifically, distressed properties
now account for 17% of our residential prop-
erty inventory and 48% of residential sales.
Pending Sales – Currently there are 270
properties in an Under Contract Status and
the number of properties place Under Con-
tract in September 2010 is up 9% from Sep-
tember 2009.
Inventory – Overall, inventory has declined
14% from 2009 (4087 listings to 3516 list-
ings). However, with this decline in inven-
tory there has been a steady rise in the me-
dian sale price for single family homes and
is now 8% higher than in 2009.
Residential Property Sales – The number
of single family home sales has risen 10%
from September 2009 and the median sale
price has risen 17%.
The number of condominium sales has
declined 25% from September 2009;
however, the median sales price has risen
for condominiums has risen 12%.
Mortgage rates are at all time lows
averaging 4.2-4.4% for a 30yr Fixed Rate
with 20% down. The rental market for the
summer was record breaking (see next
article) leading to strong rental income for
many homeowners making an Outer Banks
beach house more affordable than ever!!
While the national market continues to
search for a bottom the Outer Banks market
has turned around and is already starting to
recover.
To book your trip to look at real
estate on the Outer Banks email:
obxrealtors@gmail.com
Or
252-255-0221
The summer of 2010 on the Outer Banks is shaping up to be one of the best on record according
to various economic data that is finally coming in. I live just over the Wright Memorial Bridge in
Kitty Hawk and I can say for a fact that the traffic getting onto the island did not stop letting up
until 8-9pm, which was about 2 hours longer than normal. Many of the rental companies and hotels
were at 100% occupancy for most of the summer. Renters looking to get discounts by booking last
minute found themselves without a place to stay. While most business's and restaurants reported
strong sales it was not a banner year for those areas. People came to the Outer Banks but were
cautious with their spending, but the good news is they came.
Below is an excerpt from the Virginia Pilot with the latest economic numbers for the 2010 season.
N.C. tourism officials cheer as visitors keep coming
"Tourism on the Outer Banks appears to be making a comeback in 2010.After a devastating 2009
season, industry pros report that visitors have returned to North Carolina's barrier islands in droves.
In July, hotel occupancy rates were up nearly 17 percent over the same time period in 2009. Food
and beverage sales were up 8 percent. August numbers are not yet available, but Outer Banks
Chamber of Commerce President John Bone said he believes the month was strong and that the
momentum carried into September. In fact, Bone said last week that he believes more people
visited the Outer Banks during the 2010 tourism season than ever before."
Summer 2010 One For The Record Books
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Outer Banks Upcoming Events
Local Outer Banks News
All information in this newsletter is deemed reliable but not guaranteed
White Marlin Fishing “Best Ever”
Every now and then after a big storm white marlin
will bunch up off the coast of the Outer Banks and
the action is epic. Such was the case this week
after Hurricane Earl with over 500 white marlin
caught in 2 days by the Oregon Inlet Fishing Fleet.
It was not unusual for boats to catch 10-20-30
even 50 white marlin over a 2 day stretch.
September and October are great bill fishing
months on the Outer Banks so if you have ever
wanted a shot to catch marlin the time is now.
You can go to the Oregon Inlet website to book
your charter.
For more information about Outer Banks events go to Outer Banks Visitors Bureau
The Fight To Save Hatteras Island Continues
For many of my longtime newsletter readers you
have seen the various updates and pleas to help save
the Cape Hatteras National Seashore from being
closed forever by a group of environmentalist.
Once again I ask that you take the time to make
yourself aware of what is happening to the good
people who call Hatteras Island home. A great video
was posted on YouTube by a guy from New York
that came down to document what is happening on
Hatteras Island. Please take the time to view it.
The Fight To Save Hatteras Island
October 29 - 31 Marshes Light Marina 1st Annual King Mackerel Tournament
King Markerel Tournament with guaranteed first place prize of $10,000. Proceeds benefit Outer Banks Relief Foundation and the Town of Manteo Fisherman's Landing Project. For more information, please call 252-305-4737 or visit
marsheslightmarina.com
November 5 First Friday
Downtown Manteo Waterfront. 4 p.m. to 8 p.m. First Friday is a fun-filled, family-oriented street festival. The sidewalks pulse with live music, magic, artisans, period-dressed actors, a rock climbing wall and much more.
firstfriday-roanokeisland.com
November 9 - 14 Wings Over Water Wildlife Festival
Offering over 85 programs in themes ranging from paddling and wildlife photography to birding, natural history and more! (252) 216-9464 or wingsoverwater.org
November 26 - 27 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 on Friday and Saturday. November 27, 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. (877) FLY-THIS, (252) 441-4124 or kittyhawkkites.com
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All information in this newsletter is deemed reliable but not guaranteed
November 14
Outer Banks Marathon and Half Marathon The marathon starts in Kitty Hawk, the half marathon starts at Jockeys Ridge and
both cross the beautiful Washington-Baum Bridge and finish on Roanoke Island. obxmarathon.org
November 13
Outer Banks 8K Kill Devil Hills, near the First Flight Schools Campus. An out-and-back course which
will start in Kill Devil Hills, continue through Nags Head Woods Maritime Forest and finish at the First Flight High School track. obxmarathon.org
November 25
15th 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
For more information about upcoming running
events check out the Outer Banks Running Club
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All information in this newsletter is deemed reliable but not guaranteed.
Matt’s Outer Banks Favorites
October 29 - 31
Marshes Light Marina 1st Annual King Mackerel
Tournament
King Mackerel Tournament with guaranteed first place prize of
$10,000. Proceeds benefit Outer Banks Relief Foundation and
the Town of Manteo Fisherman's Landing Project.
For more information, please call 252-305-4737 or visit
marsheslightmarina.com
November 19, 2010
13th Annual Manteo Rotary Rockfish Rodeo
Outdoor Pavilion at Roanoke Island Festival Park. A
fishing tournament sponsored by the Manteo Rotary.
For more information call
(252) 473-6644 or rockfishrodeo.com
November 3 - 6
53rd Invitational Surf Fishing Tournament
Cape Hatteras Anglers Club, Buxton. Registration – Wednesday,
November 3, Team Fishing – Thursday, November 4, Team Fishing
– Friday, November 5, Bob Bernard Individual Tournament Satur-
day, Novembe 6, Tackle Show - Thursday, November 4.
For more information go to capehatterasanglersclub.org
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Current Listings
All information in this newsletter is deemed reliable but not guaranteed.
Matt Huband, SFR-Broker/Owner 252-255-0221
OBXRealtors@gmail.com www.OBXRealtyGroup.com
Call or email me today to set up your visit to the
Outer Banks and find your beach house!!
Nags Head
Duplex with separate
entrances, 3 lots to
the beach!!
$700,000
Call for information Click On
The Pictures
For More
Information
Nags Head-Westside
3Bd/2Bth
Great Fixer Upper w/
pool, close to beach
$193,000
MLS#63983
Priced Below Tax
Southern Shores
4Bd/3 1/2Bth
Walk to Beach
Pool, Great Rentals
$575,000
MLS#67962
Just Listed
Duck Oceanfront
3Bd/2Bth
Condo, Oceanfront
Pool, Great Rentals
MLS#67396
$375,000
Sothern Shores
3Bd/1 1/2 Bth
Walk to Beach
Pool, Hot Tub
$350,000
MLS#67385
Short Sale
Kill Devil Hills
2Bd/1Bth
Walk to Beach
Close to Everything
$115,000
MLS#68159
Just Listed