Coldwell Banker Seaside Realty

We are very proud to announce that Coldwell Banker Seaside Realty has been named among the Top 20 Coldwell Banker offices in North America - #12 to be exact!

Below is the list of top 20 offices, and here’s a quick reminder of who we are and what we do…

Founded in Kitty Hawk, NC in 1990, Coldwell Banker Seaside Realty is a dynamic full service real estate company, servicing the entire Albemarle region. More than 50 licensed agents provide both residential and commercial buying/selling assistance in Northeast North Carolina. Offices located in Kitty Hawk and Elizabeth City, NC. More information can be found on the Coldwell Banker Seaside Realty website at www.ColdwellBankerOBX.com.

Top 20 Coldwell Banker offices in North America 

www.youtube.com/watch?v=i0_XfTlv-As

]]> http://obxmarketreport.com/2012/05/outer-banks-real-estate-news-coldwell-banker-seaside-realty-ranked-12-in-north-america/feed/ 0 http://obxmarketreport.com/2012/05/outer-banks-featured-property-pine-island-corolla/ http://obxmarketreport.com/2012/05/outer-banks-featured-property-pine-island-corolla/#comments Tue, 01 May 2012 19:00:53 +0000 Gordon Jones http://obxmarketreport.com/?p=2199 Continue reading →]]>

397 Deep Neck Road, Corolla, NC

Meticulously maintained is an understatement – this home shows like new!

Set amidst the exclusive community of Pine Island, this stunning 10-bedroom (all masters), 11.5-bath oceanfront estate features custom details, thoughtful amenities and glorious ocean views that will take your breath away. From the poolside cabana and private theater room to the dune top deck and unique tile work in every bathroom, the attention to detail and amenities are second to none.

Enter onto the first level where you’ll find two King master bedrooms, one offering handicap-friendly features. Adjacent to the bedrooms, enjoy movie night in your own personal movie theater with tiered seating. If you’re in search or more action, seek out the recreation room with wet bar, microwave and refrigerator, pinball machine, air hockey table and your very own Pacman machine.

Upon entrance to the enclosed backyard, you are swept away by an oasis highlighted by a beautiful poolside cabana with gas fireplace, heated saltwater gunite pool with built in bench and kiddie wading area and hot tub.

From the entertaining first level, make your way to the second floor featuring four King master bedrooms a girls-themed bedroom with two bunk sets, a boys- themed master bedroom with two bunk sets and an office/den offering a quiet spot for a game of chess. All 6 of these bedrooms have deck access and 4 have incredible ocean views. Ride the elevator to the third level and find yourself surrounded by ocean views. The first King master bedroom offers unparalleled ocean views, deck access, a fireplace and a large welcoming master bath. A second King master bedroom also features a fireplace and large bath. Beyond the two King master bedrooms, this level features a great room with surround sound entertainment system and stacked stone fireplace, antique heartpine floors, a gourmet kitchen with stainless steel appliances featuring a Viking gas 6 burner and a Viking 4 burner electric cooktop, Viking refrigerator and microwave, plus 2 dishwashers and custom cabinets and breakfast area, a separate formal dining area, half bath and shipswatch.

If you can envision waking up to glorious ocean views from your oceanfront bedroom in a luxurious home, then this exquisite Pine Island home is for you. The privacy and exclusivity of Pine Island is unmatched, making the area one of the most highly sought-after locations on the Outer Banks. With limited oceanfront homesites, beautiful wide sandy beaches, 5,000 acres of pristine protected marsh to the west, two community pools and tennis courts, the enclave of Pine Island in Corolla provides a truly exceptional setting. Lot square footage is approximate and taken from Currituck County tax records. Furniture is not included in sales price but is negotiable.

For more information about this property, please contact Beth Dobney Garcia at Coldwell Banker Seaside Realty.

Magic 8 Ball - Signs Point to Yes

Over the past couple months we’ve been talking about the stellar real estate activity on the Outer Banks. The winter months are generally a slow period for the real estate market, but the winter of 2012 has been anything but slow.

The Outer Banks is currently experiencing market activity that we have not seen for quite a while…and we just ended the 1st quarter!

Here’s a link to the Seaside Report from March that gives a full overview of the OBX real estate market through February – including vacation rental activity. (Side note: April’s Seaside Report will be out next week.)

And here’s a quick overview from the March Seaside Report to give you a little taste of the great activity…

Year-to-Date Sales

• Overall – up 24% (254 units vs 206 units)
• Residential – Up 19% (202 units vs 170 units)
• Land – Up 45% (48 units vs 33 units)
• Commercial – up 33% (4 units vs 3 unit)

Year-to-Date Under Contract

• Contract Overall – up 25% (381 units vs 306 units)
• Residential – up 15% (283 units vs 247 units)
• Land – Up 51% (89 units vs 59 units)
• Commercial – Up 200% (9 units vs 3 units)

If these trends continue, 2012 will be a fantastic year for real estate on the Outer Banks. And according to MSNBC.com, the conditions ARE right for these conditions to hold up. In fact, MSNBC.com even calls it the “Perfect Storm.”

“According to a new survey by the National Association of Realtors and Home Away… sales of vacation homes pushed up 7 percent in 2011 over the previous year.”

Has the perfect storm arrived for the OBX real estate market? There are no certainties in life, but according to my Magic 8 Ball, “all signs point to yes.”

If you’re in the market for an Outer Banks vacation home, we’d love to help you find the home of your dreams. Please reach out to us at www.ColdwellBankerOBX.com.

And to help you feel confident about your OBX realty company choices, here are the top 5 Outer Banks realty companies in February 2012 ranked by volume:

Donate your unwanted items to the Coldwell Banker Seaside Realty and Seaside Vacations yard sale- and you’ll be helping two great charities!

What: CBSR and SSV Yard Sale

When: Saturday, May 5th, 7:00am-noon

Where: Coldwell Banker Seaside Realty parking lot

How: Bring your unwanted items to the CBSR office by Friday April 20th.

Why: All proceeds will benefit two local charities…

Food for Thought- a local non-profit organization that provides nutritious breakfasts and lunches for elementary children in Dare County, each weekend during the school year.

OBX Relief Foundation- An organization assisting citizens in our community who are burdened with financial difficulties due to a debilitating disease or illness, or a personal tragedy or crisis to themselves and/or their families.

We have combined the forces of both sides of our business – Outer Banks real estate sales with Coldwell Banker Seaside Realty & OBX vacation rentals with Seaside Vacations – to bring you the first report to offer a comprehensive view of the OBX real estate market – real estate sales & vacation rentals.

As always, we appreciate your input, and we encourage you to leave your comments below. We are happy to address any questions you may have, and we are always interested in suggestions for improvement.

Outer Banks Real Estate Sales
(Data Source: OBAR)

Year-to-Date Sales

• Overall – up 24% (254 units vs 206 units)
• Residential – Up 19% (202 units vs 170 units)
• Land – Up 45% (48 units vs 33 units)
• Commercial – up 33% (4 units vs 3 unit)

Year-to-Date Under Contract

• Contract Overall – up 25% (381 units vs 306 units)
• Residential – up 15% (283 units vs 247 units)
• Land – Up 51% (89 units vs 59 units)
• Commercial – Up 200% (9 units vs 3 units)

Inventory

• Overall, inventory has declined by 1% when compared with inventory in 2011
• Land inventory has increased by 5%
• Commercial inventory has increased by 9%.
• Residential inventory continues to decline and is down by 6%.

Distressed Sales:  (Distressed = Bank Owned and Short Sales)

• 13% of the active inventory in the MLS
• Sale of distressed property accounted for 44% of residential property sales in February.
• Total distressed property sales were down by 4% from 2011.

 Outer Banks Vacation Rental Market 
(Data Source: NAVIS GeoAnalytics)

Average Booking Window
Legend: 2011;  2012

This graph demonstrates the average number of days between booking and check-in date. This graph is summarized by month of booking, rather than month of stay.

For example, the reservations made at this time of year are about 140 days in advance of their check-in date. This booking window has dropped by 30 days from January. Considering that the summer is the busiest time of year on the Outer Banks, this decline in booking window makes sense. We should continue to see this booking window decline as we approach the summer months.

The takeaway message is that guests should book early for summer months in order to reserve the most desirable homes and weeks – at this point, about 140 days in advance, but that window is declining every day as we approach the summer months.

Seaside Report: Average Booking Window – February 2012

Seaside Report: Average Booking Window – YoY Variance – February 2012

Average Length of Stay
Legend: 2011;  2012

The Length of Stay graph illustrates the average number of days between check-in date and check-out date of reservations, summarized by check-in month.

As would be expected for the Outer Banks, the average stay is about seven days for the summer months and varies in the shoulder season.

A strong takeaway here is that full weeks are a must for the summer months, but Spring and Fall offer great opportunities for shorter stays and discounted rates, while maintaining the great benefits of gorgeous weather, empty beaches, and ample attractions and activities.

Seaside Report: Average Length of Stay – February 2012

Seaside Report: Average Length of Stay – YoY Variance – February 2012

Average Stay Value
Legend: 2011;  2012

The Stay Value graph illustrates the average revenue actualized or projected for reservations, summarized by check-in month.

The clear message with this graph is that demand is high and supply is low during the summer months, and as a result, prices are driven higher during the summer months. As mentioned above, Spring and Fall offer great opportunities for shorter stays and discounted rates, while maintaining the great benefits of gorgeous weather, empty beaches, and ample attractions and activities.

July is the clear peak, and prices begin to fall towards the end of August – when kids go back to school.

Seaside Report: Average Stay Value – February 2012

Seaside Report: Average Length of Stay – YoY Variance – February 2012

Bookings
Legend: 2011;  2012

The Bookings graph illustrates the number of reservations actualized or on the books, summarized by check-in month.

This graph gives a good view of the “strength” of the reservations over the previous year. Reservations are up, which indicates that early reservations are wise and prices should remain constant. A couple points of interest; June is very strong over last year (+30%), but July is slightly under-performing in comparison to 2011. This will be a trend to keep an eye on.

Seaside Report: Bookings – February 2012

Seaside Report: Bookings – YoY Variance – February 2012

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100 Olde Colony Drive, Edenton

This is a fabulous home in Edenton for the price and won’t last long on the market! Located in a quite community that features a clubhouse & pool for those summer days.

This beautiful home offers four bedrooms, three baths, hardwood floors, new neutral carpet and paint, vinyl fenced back-yard, all new lighting fixtures, a totally renovated master bath with carrera marble counter, two fireplaces, newer appliances, quartz countertops, his and hers large separate closets, fully fenced and gated back yard, large covered back porch & so much more! Even a home warranty is included!

For more information on this property, contact Deborah Richards with our Elizabeth City office.

www.youtube.com/watch?v=5W_-XxHShWs

Coldwell Banker Seaside Realty

Hi y’all.

It’s Gordon Jones with Coldwell Banker Seaside Realty here on the Outer Banks with an OBX real estate update for you.

I’ve committed to myself to bring a monthly market report to y’all to add my voice (and video ) to the real estate discussion here on the Outer Banks. So, please stay tuned for continued updates.

For my initial update, I’m going to focus on some data from January, and I’m happy to say that it’s been a pretty remarkable January. 2012 is definitely off to a great start here on the Outer Banks.

January is typically a slow period for real estate sales. The spring is usually when sales start to pick up, but that’s not the case this year.

In January, sales for Outer Banks real estate were up 7% and under contracts were up a whopping 38% over 2011. These are significant numbers considering that this is a slow time of year. If these trends continue, it should be a fantastic year for OBX real estate.

We are also seeing the inventory decline which is positive news from a supply and demand perspective. Distressed properties (foreclosures, short sales, and bank owned) are still making an impact at 31% of sales, but the trend line is moving down with an 8% decline from 2011.

So, what do these numbers mean? Well, these trends seem to indicate that it is a good time to sell your home if it is priced correctly. Pricing is always key. But it’s very positive to see this growth. And from a buyers standpoint, I would suggest that you make your offers a bit more competitive because you know there will be competition out there looking over your shoulder.

Thanks for tuning in. I’m looking forward to sharing my thoughts with you each month. Please join the conversation. If you have any thoughts or questions, please leave a comment, and I’ll be happy to share my thoughts.

Thanks,
Gordon Jones
President - Coldwell Banker Seaside Realty

The Seaside Report

The main economic driver on the Outer Banks is real estate. Yet, the OBX does not have an in-depth report analyzing the full spectrum of real estate on the Outer Banks – residential & commercial sales, distressed properties (foreclosures & bank-owned), and current vacation rental trends.

To meet this need for a detailed analysis of the current Outer Banks real estate market, including the often ignored but incredibly important vacation rental market, we have created the monthly “Seaside Report.”

We have combined the forces of both sides of our business – Outer Banks real estate sales with Coldwell Banker Seaside Realty & OBX vacation rentals with Seaside Vacations – to bring you the first report to offer a comprehensive view of the OBX real estate market – real estate sales & vacation rentals.

Please keep in mind that there is a lag time between “real time” and data collection/reporting. As a result, the information will be as close to “real time” as possible, but the data will be based in the past by a couple weeks at least. I will indicate the corresponding date/timeliness for each section of data.

As always, we appreciate your input, and we encourage you to leave your comments below. We are happy to address any questions you may have, and we are always interested in suggestions for improvement.

Outer Banks Real Estate Sales
(Data Source: OBAR)

January 2012 OBX MLS Data: 

2012 is off to a great start for Outer Banks real estate. January is typically a slow period for real estate, but the OBX market has been anything but slow in January 2012.

• The total number of sales in January was up 17% over January 2011.
• Under Contracts were up by 38% from January 2011.
• January sales ran the gamut from $20k (land) to $1.6 million (KDH oceanfront).

YTD Sales Residential

• Up 13% (94 units vs 83 units)
• Land – Up 13% (17 units vs 15 units)
• Commercial – up 100% (2 units vs 1 unit)

YTD Under Contract 

• Residential – Up 32% (144 units vs 109 units)
• Land – Up 43% (33 units vs 23 units)
• Commercial – Up 500% (6 units vs 1 unit)

Distressed Sales:  (Distressed = Bank Owned and Short Sales)
Of the 347 new listings in January, 22 were potential short sales & 42 were bank owned. Sold distressed sales data for the month:

4th Quarter 2011 OBX MLS Data

Summary – Overall, 2011 ended on a flat note with total sales down by approximately 1% and under contract listings down by 1%. However, there has been a notable decline in the median sale price of single family homes and condos. When comparing the yearly median sale prices there has been a 6 % decline in the price for single family homes and a 10% decline in the price for condominiums. Additionally, when looking at the 5 year trend in median sales prices there has been a 24% decline in single family home prices and a 41% decline in condominiums.

2011 Sales End-of-Year Breakdown

• Residential: Down 3% (1315 units vs. 1374 units)
• Land: Up 15% (323 units vs. 282 units)
• Commercial: Up 92% (25 units vs. 13 units)

Year-End Sale Price Range: The best selling residential properties fell into the $200K to $299K range.

Inventory: The majority of the current active residential listings fall in the following price ranges:

Distressed Property (Residential):  Distressed = Bank Owned and Short Sales

Distressed property currently makes up 14% of the active inventory in the MLS and the sale of distressed property accounts for 31% of all residential property sales.  Overall, the sale of properties listed as short sales rose 27% and the sale of bank owned properties declined 22%; however, total distressed property sales were down by 8% from 2010.

Seaside Report: Distressed Property Market Overview – Q4 2011

Market Highlights – Sold Properties

Single Family Homes, January 1 – December 31, 2011

• Duck continues to have the lowest percentage of distressed property sales, ending the year with a total of 22%
• Hatteras Island has the largest percentage of distressed property sales with 55% of all sold single family homes being either bank owned or short sales
• Although the Outer Banks had a slight decrease in single family homes sold for 2011 (1159 vs. 1193) the amount of sales over $1 million dollars increased.  There were  46 homes sold for over $1 million this year compared with 39 last year.  Of the 46 sold, 9  homes sold for over $2 Million (compared to 4 in 2010)
• Distressed sales accounted for 37% of all residential (single family & condos) sales in 2011, which was the same as the previous year.

 Outer Banks Vacation Rental Market 
(Data Source: NAVIS GeoAnalytics)

Average Booking Window
Legend: 2011;  2012

This graph demonstrates the average number of days between booking and check-in date. This graph is summarized by month of booking, rather than month of stay.

For example, the reservations made at this time of year are about 170 days in advance of their check-in date. The takeaway message is that guests should book early for summer months in order to reserve the most desirable homes and weeks – about 170 days in advance at this time of year.

Seaside Report: Average Booking Window – January 2012

Seaside Report: Average Booking Window – YoY Variance – January 2012

Average Length of Stay
Legend: 2011;  2012

The Length of Stay graph illustrates the average number of days between check-in date and check-out date of reservations, summarized by check-in month.

As would be expected for the Outer Banks, the average stay is seven days + for the summer months and varies in the shoulder season. A strong takeaway here is that full weeks are a must for the summer months, but Spring and Fall offer great opportunities for shorter stays and discounted rates, while maintaining the great benefits of gorgeous weather, empty beaches, and ample attractions and activities.

Seaside Report: Average Length of Stay – January 2012

Seaside Report: Average Length of Stay – YoY Variance – January 2012

Average Stay Value
Legend: 2011;  2012

The Stay Value graph illustrates the average revenue actualized or projected for reservations, summarized by check-in month.

The clear message with this graph is that demand is high and supply is low during the summer months, and as a result, prices are driven higher during the summer months. As mentioned above, Spring and Fall offer great opportunities for shorter stays and discounted rates, while maintaining the great benefits of gorgeous weather, empty beaches, and ample attractions and activities.

Seaside Report: Average Stay Value – January 2012

Seaside Report: Average Stay Value – YoY Variance – January 2011

Bookings
Legend: 2011;  2012

The Bookings graph illustrates the number of reservations actualized or on the books, summarized by check-in month. This graph gives a good view of the “strength” of the reservations over the previous year. Reservations are up, which indicates that early reservations are wise and prices should remain constant. Although, at this point, July is slightly under-performing in comparison to 2011. This will be a trend to keep an eye on.

Seaside Report: Bookings – January 2012

Seaside Report: Bookings – YoY Variance – January 2012

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“Warren Buffet is seen by many as the greatest investor of our time. When he speaks, people listen. Like anyone else in his position of influence, he is criticized by some for using his bullhorn to promote his own business agendas at times. That makes it very interesting when we occasionally learn of how he privately advises those closest to him.

Such a situation occurred this week. Debbie Bosanek, Warren Buffet’s secretary of 37 years, recently purchased a second home in Surprise, Arizona.

In an article in the Omaha World Herald, Mrs. Bosanek discussed her reasons for purchasing a second home and the personal advice she received from Mr. Buffet.

“I just thought it was time to buy a home. Warren tells me that it will be the best opportunity in my lifetime. Mortgage rates are low and prices have dropped dramatically…I share Warren’s view about the future of America, and we believe that our country will do just fine. I’m happy to make this investment.”

The greatest investor of the last century privately has told the people closest to him that buying a home right now “will be the best opportunity in [their] lifetime”.

That’s good enough for us. How about you?”

This home highlights a huge master suite with views of the golf course from many angles, a private finished room over the spacious two car garage and an amazing view of the 3rd Tee of The Carolina Club golf course off the back deck.

Relax in an open family room with cathedral ceiling while enjoying the golfers and flip the switch on your gas fireplace. Truly a year round paradise. Observe holes 9 and 18 from your front yard or take a stroll to the community pool, tennis courts or marina.

Live above “par”……or under if you’re golfing outside your door! You are truly living the good life at 109 Charleston Dr. at an amazingly affordable price and only 15 minutes to the beautiful beaches of the Outer Banks.

Open house for this home is February 11 from 1 til 5. 

About the Carolina Club: “The Carolina Club features superb bentgrass greens and a picturesque par-3 island green. Five sets of tees allow you to match your game to the challenge, to ensure that all skill levels can have an enjoyable time. All of this, compounded with strong ocean breezes will have you reaching for every club in your bag! The Carolina Club features a warm-up range, putting green, and chipping green to allow you to sharpen your skills. Be sure to visit the practice putting green prior to playing. It is maintained exactly like the greens on the course, so that your practice can be consistent with actual playing conditions. This is all outside your door. You can also practice at the sister course, The Pointe Golf Club. The Pointe Golf Club is home to one of the finest practice facilities in the region. The 30,000 sq. ft. practice tee can accommodate even the largest groups or outings. The short game area includes a large chipping green, practice bunker, and putting green.”

For more information on this listing please contact Teri Tillett with Coldwell Banker Seaside Realty.