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.
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.
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.
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”.
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.