Category Archives: OBX News

Spotlight on the Outer Banks: Parks and Playgrounds

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Currituck Heritage Park has 39 acres of sound front property. The park is within walking distance to the Whalehead Club, Outer Banks Center for Wildlife Education and the Currituck Beach Lighthouse.

Sandy Run in Kitty Hawk includes a 1/4mile interpretive nature walk with elevated boardwalk, canal pedestrian bridge, canoe/kayak docks, picnic shelter, on-site utilities and parking facilities.

Kitty Hawk Skate and Dog Park consists of a skate park, fenced in dog park, playground, and picnic areas with grills.

Hayman Park in Kill Devil Hills is a neighborhood recreation area that includes a picnic area, playground and open field.

Dare County Rec Park is located beside the Kill Devil Hills Water Plant. There are fields for playing baseball, softball and soccer, tennis courts, a playground and a rec center with indoor courts, game rooms, exercise rooms and space for classes.

Aviation Park in Kill Devil Hills includes a path that is ideal for biking, walking and rollerblading, playground equipment and a roller hockey rink.

Barnes Street Park in Nags Head, has plenty of space for all kinds of functions. There is a covered shelter, bathrooms, and a grill for group picnics or cookouts, a playground for children, and open grass space for soccer games or frisbee.

What Sells a Home

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RealtyTimes gives us 10 factors that affect how quickly your home sells…

 

“Unfortunately, there is no golden equation that equals the perfect sale. Yet, while there is no ‘sure thing’ in the housing market these days, there are certain factors that affect how quickly and for how much your home sells. ”

 

  1. Price: It’s a common misconception that location is the leading factor of whether or not a home sells. It is, instead, price. Think about this scenario. You have a home located in a prestigious and sought-after neighborhood, yet the list price is tens of thousand of dollars over the comps for the area. No one will be interested. This same property priced just below the competition will fly off the market.
  1. Location: Okay, location is still important. A home that sits next to a refinery, crime-ridden neighborhood, or busy street is less desirable than one that backs up to green space. If your home has a boastable location, then by all means boast about it in your marketing.
  1. Liveability: This is fast becoming a hot button word in real estate. Buyers today are looking for neighborhoods that deliver amenities such as golf parks, restaurants, theaters. They want good schools, walkable neighborhoods, and plenty of things to keep them entertained.
  1. Condition: There is a certain segment of the market that is made up of renovators, flippers, and investors. You won’t find as many people these days eager to buy your run-down property that is in a good location. They simply can’t sell the property fast enough before monthly mortgage payments begin eating up their profit. Homes that are well-maintained or in move-in ready condition appeal to a broader range of buyers. Even simple fixes, such as new paint, cleaned carpets, or power-washed decks, can have an effect.
  1. Competitive Advantage: Don’t make the mistake of assuming that you’re in this race alone. Past area sales, as well as current listings and foreclosures, are your direct competition. You must take these into consideration when settling on a list price for your home. What amenities and upgrades do these homes have? Do the homes in your neighborhood all have updated baths, kitchens, or landscaped yards? In order to price in line with them you must be able to boast these same things.
  1. Curb Appeal: Curb appeal is the first impression of the home world. You must keep the yard orderly and maintained when your home is on the market.
  1. Staging: Once inside your home, a buyer must be wowed. Intoxicate their senses. They want to see up-to-date furnishings, smell a clean home, touch cabinets that are in good repair, hear peace and quiet, and of course “taste the good life.”
  1. Kitchens: A kitchen sells a house. It is where families gather and connect. Minor kitchen remodels rank high among the list of top remodeling projects, with owners updating cabinets, counters, and floors. Nobody wants an outdated kitchen. What fixes are in your budget? If your kitchen is already spectacular, be sure you play this up in any marketing.
  1. Agents: An accomplished, knowledgeable agent can be your biggest ally during the selling process. They know the latest market trends and have built a network of agents and contacts to market your home to. With an arsenal of marketing tools available to agents today, from video tours and webcasts to brochures, websites, and mls listings, they are part of your selling team.
  1. Marketing: Marketing has gone global. With the power of the Internet, you can showcase your home to millions of potential buyers. Sit down with your agent and develop a solid marketing plan. This is why you are paying them a commission. Make them earn it!

The market is not what it once was. You must be realistic about what selling in today’s market means. You value your home, but it may not be “worth” as much today as it was yesterday, last month, or last year. Consider these top ten ways a home sells and help your home put it’s best face forward.

5 Signs a Foreclosure is a Good Deal

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What Makes a Foreclosure a Good Deal

via ZillowBlog…

When you are about to purchase a foreclosure, consider these 5 things:

1.    “I love the property” is what you say after you’ve viewed it, driven the neighborhood, and investigated the property fundamentals. You love it because it is very close to exactly what you were hoping for in becoming a homeowner, or rental property owner.

 
2.    “I plan to own it a long time” is what you say when asked. Regardless of how great a deal you think you are getting, the break-even point in ownership is really about five years. If you aren’t going to own it that long, you are most likely better off staying a renter. Remember the three most important words in real estate: long-term ownership

 
3.    “It’s in pretty good shape” is what you say when your friends ask about the physical condition of the property. The vast majority of buyers have wildly low expectations of how much it costs to renovate a property. Renovations usually cost a lot more and take a lot longer than one believes, so let the contractors buy the fixer-uppers.

 
4.    “The price is in line with comparable recent sales in the neighborhood” is what you find out when you do a comparable market analysis of nearby properties. Remember, if it sounds too good to be true, it probably is.

 
5.    “Most of the nearby houses are occupied” by owners, or at least renters in the area. Neighborhoods with many empty houses can go into downward spirals that can become very bad areas with very low home values. Avoid that type of risk.

To Buy or To Rent?

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Coldwell Banker Seaside Realty offers 4 questions to consider when deciding whether to BUY or RENT a home.

“To buy or to rent?” Recent graduates, young couples, relocating professionals and others have all asked themselves this question at one point or another. While each option has its benefits, the decision to purchase an apartment, condominium or house as opposed to renting, is complex and based on a number of factors. According to a survey from October 2010 from the National Association of Realtors, nearly eight out of 10 respondents believe buying a home today is a good financial decision. The question that remains is whether or not now is the right time to purchase a home for you.

For most people, deciding to purchase a home is the largest financial decision of their lifetime. Before making the jump into homeownership, potential home buyers should consider the “soft” lifestyle issues as well as the “hard” financial ones. The professionals at Coldwell Banker Seaside Realty have provided the following four financial and lifestyle questions to consider when determining if buying a home is the right decision for you:

  1. Do you have a steady income? At or near the top of every potential homebuyer’s mind is whether or not they can afford to buy a home right now. Buying a home remains a sound financial decision for those with documented income and a good credit history, and a steady income can provide a strong backbone for the initial down payment and future mortgage payments. The “Affordability Radar” tool on coldwellbanker.com is a great way to begin this planning and assess “how much home you can afford.  Don’t hesitate to speak with a real estate professional even before you’re ready to buy a home. Along with a financial planner, a real estate professional can help you answer and uncover questions about the cost of homeownership.
  2. Do you plan to stay in a home for an extended period of time? With proper planning, a home purchase has historically proven to be one of the strongest investments one can make. Along those lines, it’s imperative to understand that investing in a home is much different than investing in a stock portfolio. Homes typically appreciate in value over time while the owner builds his or her equity through monthly mortgage payments. If you anticipate staying in a home for only one or two years, it doesn’t necessarily mean buying is not for you, but you are less likely to see a significant financial return on your investment.
  3. Do you plan to sell a house in order to buy a house? A local real estate professional can help you understand current local market conditions and will help you make smart decisions when listing a home on the market. If you do not currently own a home that needs to be sold prior to purchasing a new one, now is a particularly smart time to buy. Even with lenders becoming increasingly more thorough in their approval process, mortgage financing is still widely available for those with a steady income and solid credit. High inventories and low interest rates give first-time homebuyers a tremendous amount of opportunity and flexibility in markets across the U.S.
  4. How do your other options compare? For renters, calculating month-to-month housing expenses is as easy as inquiring about the monthly rent and average utilities. The calculation gets a bit more complicated when considering the monthly cost of owning a home. A real estate professional can help you understand a range of financial considerations from annual property taxes to the tax incentives for owning a home.

“There is no one right decision when it comes to renting versus buying a home,” said Gordon Jones, president of Coldwell Banker Seaside Realty. “Each individual should take the time to look at their personal and financial situation to decide what will work best for their needs and lifestyle.”

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. Each Office is Independently Owned and Operated. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.

Spotlight on the Outer Banks: Bay Drive

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Bay Drive is one of my favorite places on the Outer Banks. Not only is it one of the best places to catch the sunset, but you can always count on seeing someone you know and catching up with friends. There is a warm sense of community in this neighborhood as you see neighbors waving as they pass each other on the street, chatting in their front yards, or biking/running at sundown.

Located in Kill Devil Hills, NC, Bay Drive is a beautiful residential street that runs along Kitty Hawk Bay and is home to many Outer Banks locals.

For more information about Bay Dr. and available homes along this great street, please contact one of the Coldwell Banker Seaside Realty agents.

Coldwell Banker Seaside Realty Welcomes New Agent

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Kim Wickre

Coldwell Banker Seaside Realty is pleased to announce the addition of agent Kim Wickre to the Kitty Hawk office.

Kim, a graduate of UVA with a Masters in accounting, has lived on the Outer Banks since 1989 and has been licensed for over 15 years, also working in interior design.  Kim and her husband, Glen own and operate G.M. Wickre Corporation, building beautiful custom homes.

Her in depth knowledge of accounting, budgeting, construction and client liaison work give Kim a qualified eye in identifying properties that meet her client’s needs.

Kim and Glen are affiliated with the NC Quarter Horse Association.  They both show horses and are currently focusing on their daughter’s show career.

Kim can be reached directly at (252) 207-1283 or via email at KWickre@seasiderealty.com.

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.


Coldwellbanker.com Revamps Properties Section

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Coldwell Banker Real Estate LLC today announced a relaunch of the Properties Real Estate Search section of coldwellbanker.com to respond to the growing percentage (38%) of visitors using non-traditional search options on the site. Non-traditional searches include mobile phone sites and apps, as well as unique search functions such as keyword, lifestyle, affordability and BlueScape®.

This newly enhanced section of the website combines various real estate search options and tools available on coldwellbanker.com into one location to help consumers explore and acquire information for their home search.

From local community amenities to an affordability radar, informational videos to direct access to agents, this unique search section now provides consumers with more than a dozen ways to search, gather information and find the right home and community for their lifestyle.  Visitors will also gain access to download mobile tools including apps for the iPhone, Android and iPad for searching on-the-go.

“With nearly 40% percent of all searches on our website now being conducted in non-traditional ways, we continue to provide visitors with search alternatives and resources to access during the home buying process,” said Michael Fischer, chief marketing officer, Coldwell Banker Real Estate. “The days of only offering bed/bath search functionality are over.  Consumers want and need more options, and allowing them to search for homes as they see fit is critical.”

The following search options and tools are available on the new Properties Real Estate Search section:

  • Lifestyle Search*: From public transportation to wide open spaces, restaurants to trendy neighborhoods, those who are focused on location, location, location can rate which lifestyle characteristics are important to them.
  • Affordability Radar*: For the budget conscious, this tool enables users to identify upfront if a home on coldwellbanker.com fits within their budget based on their household income, monthly debts, available funds and loan terms.
  • BlueScape®: Built for dreamers and designed for home buyers, BlueScape allows consumers to experience the home searching process in an entirely non-traditional way, by rating abstract images with thumbs up or thumbs down. The BlueScape technology serves up listings that match each individual’s inherent preferences.
  • Coldwell Banker On Location®: Honing in on video as the future of real estate, Coldwell Banker’s branded YouTube channel provides thousands of videos, including community videos, virtual tours and agent videos.
  • Home Listing Report: The Coldwell Banker Home Listing Report allows site visitors to compare the average home price listing for a four-bedroom, two-full-bathroom home in more than 2,300 markets so they can see how each area stacks up in affordability.
  • Mobile Apps and Mobile Sites: Users can download the mobile app that fits their needs to search for a home anywhere, anytime from their iPhone, Android, iPad or other handheld device.
  • Luxury Properties: Those in search of the most extraordinary properties in the world can begin their search here.
  • International Property Search: Global home buyers can find a property overseas by searching coldwellbanker.com listings in 50 countries.
  • Vacation and Second Homes: Home buyers who want to hit the slopes, lounge on the beach or chill in a villa can identify the perfect home-away-from-home.
  • New Homes: If finding a new construction home is a priority, home buyers can narrow down their search with the New Homes area.
  • Agent and Office Search: Coldwell Banker has an expansive network of agents and brokers who can help home buyers and sellers make smarter real estate decisions. This feature allows site visitors to begin their search by choosing a trusted agent or office first, who will help guide them through the process.

Why Not Own It? 5 Reasons to Purchase a Home Now

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For most people, deciding to purchase a home is the largest financial decision of their lifetime. Rather than sitting on the fence, why not own it?, asks Coldwell Banker Real Estate. Mortgage rates are near historic lows and with home prices more affordable, right now is the perfect time to speak with a professional real estate agent and seize the opportunity to achieve the American Dream of homeownership.

According to a recent survey from the National Association of Realtors, nearly eight out of 10 respondents believe buying a home today is a good financial decision.  Based on this, the professionals at Coldwell Banker Seaside Realty have provided the following five reasons why now is an optimal time to get off the fence and consider owning the fence instead (and the home within it)!

  1. Homes are More Affordable – Home prices remain more affordable than ever before in markets across the country.  According to the Freddie Mac House Price Index, current housing prices are down 27 percent on average across the nation from peak values five years ago.  Coldwell Banker Real Estate showcased affordability levels in its 2011 Home Listing Report, which ranked more than 2,300 markets.
  1. Rates are Low – Mortgage interest rates remain near historical lows, which can mean lower monthly payments and/or shorter lending terms. Coldwell Banker Real Estate recently launched an online First-Time Home Buyer Resource Center that features content and tools to help educate potential first-time home buyers.

  1. Homeownership is Still the American Dream – Lifestyle changes such as marriage, having children and starting a new job are some of the most common reasons that people decide to purchase a new home. But the American Dream of homeownership is much more than just a piece of property, it’s a home. According to a recent Coldwell Banker survey of more than 300 consumers who purchased their home in the last year, 67 percent said the market afforded them the opportunity to buy a home sooner than expected and half said they found a home in a more desirable neighborhood than expected.

  1. Financing is Available – Though many people decide they want to purchase a new home based on lifestyle factors, the financial aspect of purchasing a home needs to be top-of-mind.  A potential homebuyer should conduct the necessary research to prepare for the home buying process. Today’s borrower needs to have stable employment of at lease two years; sufficient income to cover the monthly mortgage payment and living expenses; adequate savings to make at least a 3.5 percent down payment; and, in general, a credit score of at least 620.

  1. Timing is Everything – “Timing is everything,” a saying used to describe just about anything, is incredibly true when it comes to home buying.  When preparing to purchase a home, take the time to research other factors that could affect the home buying process.  For example, according to new loan limits published by FHFA and HUD, conforming loan limits will be reduced on October 1, 2011, which will decrease the availability and affordability of mortgage credit for many home buyers in 42 states.

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. Each Office is Independently Owned and Operated.  Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.

7 Tips For First Time Sellers

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MSN Real Estate has seven tips for first time home sellers.

1.Price it realistically from the start… take advantage of that sweet spot by pricing the house competitively right out of the gate

2.Be prepared to lose some money… the truth is that your house is worth what buyers are willing to pay, and not a penny more.

3.Promote, promote, promote… One question to ask as you interview real-estate agents: How will you reach the home’s target market?

4.Throw in some extras… Offering some extra appliances that otherwise would have caused you headaches to move, could sweeten the pot for the buyer to agree to buy at full asking price.

5.Clear the clutter… Keeping your house clean is important in every sale. But first-timers are likely selling smaller houses, and clutter can mean the difference between cozy and cramped.

6.Appeal to Lazy Buyers… The last thing a new homeowner wants is a to-do-list. Get the home ready before it hits the market.

7. Put upgrade money where it counts… If you want to spend some money to make your house memorable, ask someone who knows what will improve the market value. Most professionals will tell you fresh carpet and new paint are the biggest ‘bang for your buck’.

For more tips on selling your home, contact one of our agents at Coldwell Banker Seaside Realty or visit us online at www.coldwellbankerobx.com.

Spotlight on the Outer Banks: OBX Fishing Piers

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The five fishing piers located on the northern beaches of the Outer Banks are Kitty Hawk, Avalon, Nags Head, Jennette’s and Outer Banks Fishing Pier, all of which are unique.

The Kitty Hawk Pier is now privately owned and part of the Hilton Garden Inn.

The Avalon Pier is located on the Oceanfront in Kill Devil Hills, at Mile Post 6. It is 696 feet long. The pier is usually open from 5:00 am - 2:00 am during the summer months. During the Spring and Fall, they open at 6:00 am and close when things slow down which is usually right before 10:00 pm. They sell all kinds of bait including bloodworms, squid, mullet, shrimp, and artificial lures. They also rent tackle.

The Nags Head Fishing Pier offers a great fishing pier as well as a bait & tackle shop for all of your fishing needs. Also on site is a The Pier House Restaurant and The Pier Cottages. There are 6 cottages available ranging from 1-bedroom to 4-bedrooms. Daily rates are available for the cottages, though there is a 3-night minimum stay.

Jennette’s Pier, the oldest fishing pier on North Carolina’s Outer Banks, was built in 1939. This historic ocean landmark has weathered dozens of hurricanes and nor’easters over the past six decades.

Owned by the North Carolina Aquarium Society The oldest fishing pier on the Outer Banks provides a great fishing experience for the entire family. The main exhibit, Giants of the Sea, showcases state-record trophy fish mounts and five aquariums with indigenous fish species on display. The pier also houses an outpost for the North Carolina Aquarium Education Department, which offers a wide variety of coastal educational opportunities for children of all ages. Aquarium education classes run Monday - Friday between Memorial Day and Labor Day.

The Outer Banks Fishing Pier is open 24 hours a day. Daily, weekend and weekly passes are available, as well as group rates and senior citizen discounts. Bait and tackle are available at the Pier, as well as rentals of tackle, bicycles, umbrellas, chairs and boogie boards. Fishing charters are also available through Outer Banks Fishing Unlimited.