It’s very important for Outer banks homeowner’s and buyer’s alike to understand the differences between the two main types of policies that are available for vacation rental or second homes. Often homeowner’s shop for the least expensive policy upfront only to have it cost them in the long run and when it comes to insurance coverage, there is no truer statement than “YOU GET WHAT YOU PAY FOR”.
The big talk on the Outer Banks right now is all about #NotTheAnswer or #NotTheAnswerNC or #KilltheDrill. I have been a member of the Surfrider Foundation for over 15 years now and remain active with our local Outer Banks Chapter (http://outerbanks.surfrider.org; and check out their Facebook page). They are making a lot of noise and making national news by saying no to offshore drilling off the coast of NC. They started a “Clean Beaches = Healthy Businesses” campaign a few years back but since there wasn’t a real risk of offshore drilling being a reality, it didn’t gain too much momentum or press. However, that has significantly changed over the past couple months since Obama agreed to open up federal waters for leasing of off shore plots to oil & gas companies to drill.
A home on the beach exudes a certain appeal unlike any other, and Outer Banks real estate offers some of the most beautiful beachfront properties you will ever see. In the midst of work demands, family conflicts, and fatigue, it is easy to imagine yourself relaxing on the front porch of your oceanfront home, sipping a cool drink, and breathing in the fresh salt air. If this dream sounds too good to be true, think again! If you have ever considered purchasing a home on the Outer Banks, now is the time to make that dream a reality.
As we approach the 2015 spring selling season here on the Outer Banks, it’s the perfect time to take a look at the overall health of the real estate market. Where have we been and where may we be going? Since the single-family homes make up 65% to 75% of our annual unit sales and 75% to 85% of our annual dollar sales volume, this article will only be referencing single-family homes from Carova to Ocracoke, including Colington and Roanoke Islands. All data is taken from the MLS of the Outer Banks Association of REALTORS.