As you know from reading REALTORS® e-mails, websites, bios and such there is an alphabet soup that we REALTORS® love to share with other clients and the public. These letters correspond with certain “designations and certifications” offered by the National Association of REALTORS® in order to expand our knowledge base and continue our education. The following is a description of each REALTOR® Designation and what it may do for you or someone you know:
Fall is an awesome time of the year in the Outer Banks for visitors and for real estate.
During September and October, the Outer Banks transforms back to what I consider paradise. The weather is pretty much perfect, as the water is still warm and the air temperatures are too. The humidity drops off for the most part and you begin to get some of those mornings where the air is crisp. The stop and go traffic on 158 is just a thing of the past. Even left turns are possible again onto the big road. You typically don’t have to wait in long lines at the grocery stores, restaurants, or any of the other local establishments. It’s that time again for oysters, the return of tuna season, football, and long sleeves in the evenings. There is plenty to do without feeling crowded. The schools hold their annual pumpkin fairs. There are Halloween parties and the annual seafood festival, and the sound-front site in Nags Head has been recently, gorgeously transformed. Do yourself a favor and come out this October 17 for a great gathering of local restaurant owners who will be showing off their finest vittles. And don’t forget, you can still go anytime and enjoy our greatest asset – the beach!!
Well ladies and gentlemen, watch your flood renewals, because as of April 1, 2015 FEMA began the implementation of the congressional mandated reforms to the NFIP – National Flood Insurance Program. Based on the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA) which was enacted to repeal and modify the Biggert-Waters Flood Insurance Reform Act of 2012. These new laws will slow some of the rate increases and offer some policyholders relief that saw gigantic rate increases in 2013 and 2014 based on the prior storms. The flood insurance rates and other charges were revised for new and existing policies on April 1, 2015.
According to a recent article in Money Magazine (May 2015) for more than a decade the housing market has been in flux, in between that “just right” rate of growth that offers opportunities for both buyers and sellers, but by certain standards we may be getting closer. According to National Association of REALTORS® home prices nationwide are expected to rise 4.9% on average this year. At the same time inventory is expected to loosen up with 1.9M units on the market this year vs the market saturated 4M we saw in the late 2000’s.
Moving forward on the new Dowdy Park, the Nags Head Fire Department used the old main arcade building of the original park as a practice controlled burn this month. Smoke could be seen for miles and across the sound. It was considered too expensive to repair so instead it served as training exercise for the firemen as well as saving demolition costs as the town of Nags Head continues to make this area a real park.
Let’s take a moment and review why this is the greatest Real Estate market we’ve seen in the last 5 to 7 years. There are 7 very specific reasons why it is, although I’m sure I’m missing a few, which is motivating many, including your friends and family, and maybe even you, to consider buying or selling in 2015.
Determining whether to build a home or purchase an existing home may seem like a simple decision. Yet, in fact, there are many more factors to consider. Weighing a list of wants with your current budget and knowing all the facts are key in making this personal and very important life decision.
Do you remember Dowdy’s Amusement Park? I do, and what a great place it was for all, young and old. Those rides, the arcade games, plus the popcorn and cotton candy. I can still see it now. Ah yes, those were the days when we enjoyed just being out with the family and looking at the roller coaster even if you did not ride. It was a sad day when it closed, back in the early 2000’s, after being a fond part of Nags Head for so many years.
The Outer Banks offers one of the most beautiful beach landscapes on the East Coast. Bordered by miles of pristine sandy beaches, the islands that make up the Outer Banks serve as home to many wildlife species, including the famous wild horses of Corolla. Almost 60,000 people also make their home year-round in the Outer Banks counties of Dare and Currituck, giving the islands a touch of small-town charm even in the midst of summer’s tourist season.
Anyone who has ever lived or visited the Outer Banks has heard about the Mid-Currituck Bridge. Opinions vary depending on whom you talk with at the time. Some swear that the bridge will be built and still others claim that it is never going to happen. The truth is actually somewhere in the middle. Let’s take a second to separate the facts from opinions.