Outer Banks Real Estate Update-February 2009 Newsletter
3
How Using Me As Your Buyer’s Agent Benefits You the 10% in the $750,000 over range. If this number holds steady like it has for the last few months it shows that we have reached or are close to reaching the actual market price for these homes without more price reductions. When this % starts to decrease then we know the bottom has been reached. However, as I have said many times you will never know when the bottom has been reached until 4 months after it happens. In the last newsletter I stated that prices are starting to stabilize and so far in 2009 the statistics are showing that to be true. We shall see if the trend continues. 2009 off to a great start!! So far in 2009 the buyers have been showing up in full force and they are buying!! Since the beginning of the year there has been a 13% increase in houses that have gone under contract compared to 2008. The 2 factors that are moving buyers off the fence are low mortgage rates and prices are just to good to pass up. Financing is available with 10% down around 5% for a 30year fixed conventional mortgage. Also for the first time I have seen a house sell for what a seller paid for it in 2003. That just blows my mind! Guess what, there are more out there!! There is also a sense that we are moving towards a bottom on the Outer Banks, especially in the $500,000 and under range. This price range is seeing the most activity with multiple offers coming in on the best deals. Here are a few more things I am keeping an eye on . The number of active listings has dropped 10% down to 3775 in January compared to 2008 levels. The other statistic I am watching is the % difference between the list price and the actual sales price. This % has been fluctuating from 6%-10% depending on which price range you are looking. The 6% difference is in the $750,000 under range and Outer Banks Real Estate Update Matt Huband PO Box 2223 Kitty Hawk, NC 27949 Office: 252-255-0221 Cell: 252-480-9283 Fax: 866-902-4479 Feb Maximum Temperature 54F Minimum Temperature 37F Water Temperature 46F Precipitation 3.2 in Wind 15 mph Outer Banks Weather Real Estate Update FEB 2009 www.HometownOBX.com All information in this newsletter is deemed reliable but not guaranteed. Under the Buyer Agent system the Real Estate Broker(ME) represents and works for the Buyer (YOU) in the purchasing of a home- as the Agent for the Buyer-and has a duty to represent the Buyer. Here Are Ways Buyer Agency works for you: ▪Meaningful Savings are Possible-I will help you negotiate to obtain the right price, terms and conditions. ▪You Are Represented-I will do a comprehensive market analysis on the property you select. This will help you establish fair market value before an offer to purchase is made. *Negotiation Skills: I am an experienced at negotiating the best price and terms. *Market Knowledge and Consultation: Many times I know of areas or properties unfamiliar to buyers that will best fit their wants and needs. Because I do this on a daily basis, I can help buyers identify and secure well priced properties quickly. *Loyalty: Once a Realtor enters into an agency with their client, they have certain duties to their principal. They must look out for their client’s best interests. Not only does this help during the “Under Contract” stage, but it will help through closing. *Trust: I must adhere to the strict Code of Ethics and Standards of Practice. You can be assured that we will have an honest and ethical relationship. *Buyers receive representation at no cost, the Seller pays the Broker* Give me a call or send an email to reserve your time to look at Outer Banks Real Estate. Get the latest real estate and local news updates with my weekly podcast. Go to my website to subscribe. It’s easy & FREE!!
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Get monthly updates on the Outer Banks real estate market and local news. Features include current market commentary, listings, local Outer Banks events and news.
Transcript of Outer Banks Real Estate Update-February 2009 Newsletter
How Using Me As Your Buyer’s Agent Benefits You
the 10% in the $750,000 over range. If this number holds steady like it has for the last few months it shows that we have reached or are close to reaching the actual market price for these homes without more price reductions. When this % starts to decrease then we know the bottom has been reached. However, as I have said many times you will never know when the bottom has been reached until 4 months after it happens. In the last newsletter I stated that prices are starting to stabilize and so far in 2009 the statistics are showing that to be true. We shall see if the trend continues.
2009 off to a great start!! So far in 2009 the buyers have been showing up in full force and they are buying!! Since the beginning of the year there has been a 13% increase in houses that have gone under contract compared to 2008. The 2 factors that are moving buyers off the fence are low mortgage rates and prices are just to good to pass up. Financing is available with 10% down around 5% for a 30year fixed conventional mortgage. Also for the first time I have seen a house sell for what a seller paid for it in 2003. That just blows my mind! Guess what, there are more out there!!
There is also a sense that we are moving towards a bottom on the Outer Banks, especially in the $500,000 and under range. This price range is seeing the most activity with multiple offers coming in on the best deals. Here are a few more things I am keeping an eye on . The number of active listings has dropped 10% down to 3775 in January compared to 2008 levels. The other statistic I am watching is the % difference between the list price and the actual sales price. This % has been fluctuating from 6%-10% depending on which price range you are looking. The 6% difference is in the $750,000 under range and
Outer Banks Real Estate Update
Matt Huband
PO Box 2223
Kitty Hawk, NC 27949
Office: 252-255-0221
Cell: 252-480-9283
Fax: 866-902-4479
Feb
Maximum
Temperature
54F
Minimum
Temperature
37F
Water
Temperature
46F
Precipitation 3.2 in
Wind 15 mph
Outer Banks Weather
Real Estate Update
FEB 2009 www.HometownOBX.com
All information in this newsletter is deemed reliable but not guaranteed.
Under the Buyer Agent system the Real Estate Broker(ME) represents and works for the Buyer(YOU) in the purchasing of a home- as the Agent for the Buyer-and has a duty to represent the Buyer. Here Are Ways Buyer Agency works for you: ▪Meaningful Savings are Possible-I will help you negotiate to obtain the right price, terms and conditions. ▪You Are Represented-I will do a comprehensive market analysis on the property you select. This will help you establish fair market value before an offer to purchase is made. *Negotiation Skills: I am an experienced at negotiating the best price and terms. *Market Knowledge and Consultation: Many times I know of areas or properties unfamiliar to buyers that will best fit their wants and needs. Because I do this on a daily basis, I can help buyers identify and secure well priced properties quickly. *Loyalty: Once a Realtor enters into an agency with their client, they have certain duties to their principal. They must look out for their client’s best interests. Not only does this help during the “Under Contract” stage, but it will help through closing. *Trust: I must adhere to the strict Code of Ethics and Standards of Practice. You can be assured that we will have an honest and ethical relationship.
*Buyers receive representation at no cost, the Seller pays the Broker*
Give me a call or send
an email to reserve your
time to look at Outer Banks Real Estate.
Get the latest real estate
and local news updates
with my weekly
podcast. Go to my website to subscribe.
It’s easy & FREE!!
Outer Banks Upcoming Events
Local Outer Banks News
All information in this newsletter is deemed reliable but not guaranteed
Outer Banks 2009 Travel Guide
Get your FREE beautifully illustrated 2009 Official Outer Banks Travel Guide which includes the FREE 2009 Getaway Card. With this card, you can enjoy the cap-tivating seasons of Winter, Spring and Fall even more with special savings at local area businesses. Can’t wait for the guide to be mailed? Check out our 2009 Virtual Guide and explore the Outer Banks of North Carolina from the comfort of your home computer screen.
Outer Banks Get’s Snow!!!! For the first time in 6 years the Outer Banks got 2 to 3 inches of snow on Jan. 20th. It has flurried here in the last 6yrs but nothing like this. Everyone enjoyed the snow and the kids put their boogie boards to good use as sleds. Hopefully the kids will not have to wait 6 more years to see snow again!!
February 1 - February 27
32nd Annual Frank Stick Memorial Art Show Glen Eure’s Ghost Fleet Gallery, Nags Head. Includes a wide variety of local fine art rang-
ing from conceptual to realistic. Sculpture, painting, drawing, fiber, pottery and mixed me-dia. (252) 473-5558 or darearts.org
March 5 - 8
Taste of the Beach The Outer Banks Restaurant Association will host the Outer Banks “Taste of The Beach”
weekend event. The “Taste of the Beach” has enjoyed great success and was even named in the top ten Seafood and Wine Festivals in the nation by Coastal Living Magazine.
The weekend will be full of great food and drinks and fun activities; all taking place in the gorgeous OBX setting.
Some of the activities that will be offered for this event include: · Wine tastings,
· Cooking classes, · Special menu presentations,
· Guest chef appearances, · brewery tours, and more.
The event will conclude with a “Taste of The Beach” expo on Sunday at the Hilton Garden
Inn in Kitty Hawk. obxtasteofthebeach.com
20th Annual Kelly' St Patrick's Day Parade Sunday, March 15, 2009 1 PM
Va Dare Trail/The Beach Road
Parade Theme-The Wearing of the Green, Be Irish
Matt Huband
Current Listings
All information in this newsletter is deemed reliable but not guaranteed.
“The Exceptional Exception”
From Corolla to Hatteras
Outer Banks
Talk To A Lender
252-255-0221 Ext 2 [email protected]
www.HometownOBX.com
Call or email me today to set up your visit to the
Outer Banks and find your beach house!!
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.
I recommend the following mortgage lenders:
Joey Barrow-Metrocities Mortgage 252-353-6400
Or 252-207-4439
Linda Barber-Wells Fargo
252-441-7610 Or
800-407-8746
Let Joey or Linda know that I gave you their name and they will take good care of you!!
Avon
6Bd/5 1/2 Bth
3500 Sq Ft
$850,000
MLS#57323
SHORT SALE!!
Corolla-Whalehead
6Bd/4Bth
2600 Sq Ft
$774,999
MLS#57454
3 Lots To Ocean
Price Reduced!!
Kitty Hawk
4Bd/2Bth
1437 Sq ft
$475,000
MLS#58645
Classic Ocean Front
Great Rental Income
Kill Devil Hills
3Bd/2Bth
1400 Sq Ft
$235,000
MLS#56506
SHORT SALE!!
Hatteras
5Bd/5 Bth plus 2 !/2 Bth
3100 Sq Ft
$599,000
MLS#54526
PRICE REDUCED SHORT SALE!!
Nags Head
Duplex with separate
entrances, 3 lots to
the beach!!
$950,000
Call for information
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