What Makes The Best Rental House

Rental Income has increased and tourist numbers continue to break records every year! Gas Prices are at 4yr lows! All of this has created the perfect storm for buying Outer Banks real estate!!! Buyers are coming back to the Outer Banks with a vengeance. Over the New Years holiday almost ever y Realtor on the Outer Banks was out showing property. I personally had 3 buyer clients in town over 4 days!! Prices are stabilizing!! Don’t miss this opportunity to get the best house for the best price at the lowest interest rate!!!

2008-It’s finally over!! I know for many of you, including myself, I could not wait for 2008 to be over. The stock market came crashing down, the real estate market continued it’s downward spiral and the economy just tanked. All in all 2008 will go down as one of the worst years in recent memory As for the Outer Banks real estate market things went from bad in 2007 to worse in 2008. It seems that foreclosures and short sales were everywhere on the Outer Banks, listings stayed on the market longer, and buyers just disappeared.

In 2008 according to OBAR, there were 1312 houses sold with an average days on market of 214 and the average sales price was $386,350. Let’s compare to 2005, 3201 houses sold, avg. days on market was 150, and the avg. sales price was $460,702. Enough of the doom and gloom!! Hello 2009!!! The one great thing that came out of 2008 was it set the stage for an incredible opportunity to buy an Outer Banks beach house in 2009. Prices on the Outer Banks are back to where they were in 2003-’04! Conventional mortgage rates are at an all time low, under 5%!

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

Jan

Maximum

Temperature

51F

Minimum

Temperature

36F

Water

Temperature

49F

Precipitation 4.7 in

Wind 14 mph

Outer Banks Weather

Real Estate Update

JAN 2009 www.HometownOBX.com

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

500 FEET OR LESS TO THE BEACH MINIMUM OF 5 BEDROOMS, PREFERABLY 6 OR MORE HAVE ALL MASTER SUITES IF POSSIBLE WITH KING BEDS ELEVATOR PET FRIENDLY HEATED POOL HOT TUB GAME ROOM THEATER ROOM MULTIPLE APPLIANCES 2 KITCHEN AREAS IF POSSIBLE PROFESSIONAL DECOR WITH A THEME UP TO DATE ELECTRONICS, I.E. PLASMA TV'S, SURROUND SOUND Entry Level Rental Properties will not have all of the above. Regardless of what you want to spend on your investment, you want as many of these things as possible to make a GREAT rental property that will appreciate and increase your rental income each year! My job is to work within your financial situation to find the best possible home to meet your needs. This is done by gathering rental income histories, expense reports, and maintenance records. I can break down each house with a detailed spreadsheet on expenses and income to give you a realistic view of your monthly costs. In the rental market, buying the house that will cost you less in repairs will go a long way to making a successful income producer for you. On the Outer Banks there are plenty of awesome deals in every price range!!!

My clients always say they should have bought a beach house years ago. Don’t miss out on the best buyer’s market in years or a few years from now you will be saying the same thing!!

Outer Banks Upcoming Events

Local Outer Banks News

All information in this newsletter is deemed reliable but not guaranteed

Kitty Hawk Surfer Makes It Big!! Every surfer dreams of being pictured on the cover of

Surfer magazine, and Jesse Hines is one of them.

Recently, he was stoked to find out his dream had

been published.

An image of Hines getting barreled under an olive

green Gustav breaker on the Gulf Coast was featured

on front of the January 2009 issue of this top surf

magazine that covers the world-wide sport of riding

waves. It is the first issue that celebrates the maga-

zine's 50th year anniversary.

Check Out the Full Story Here

Jimmy Buffett's Outer Banks Trip Pt.1, 2, & 3

This is a follow up from last months newsletter

article about Jimmy Buffett’s visit to the Outer

Banks. It seems that Jimmy has now posted his own

account of the trip to the Outer Banks. You can read

all about his adventures on his website.

Jimmy Buffett Outer Banks Trip

Part 1,2,&3

Enjoy!!!

January 10 - 11

11th Annual Outer Banks Wedding Weekend and Expo First Flight High School. outerbanksweddingassoc.org

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

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 MattHuband@HometownOBX.com

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

$799,000

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!!

Just Listed!! Corolla-Ocean Sands

5Bd/3Bth

2115 Sq Ft

$515,000

MLS#58836

Price Below Tax Value

Nags Head

Duplex with separate

entrances, 3 lots to

the beach!!

$950,000

Call for information

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