Tag Archives: 2011

Outer Banks Real Estate Update: The “Seaside Report” – 2.14.12

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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:

 

Total Sold

Bank Owned

Short Sale

% Distressed
January

113

20

16

32%

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.

Median Sales Price

2006

2007

2008

2009

2010

2011
Single Family Homes

$416,833

$383,599

$352,607

$319,500

$334,795

$316,269
Percent Change

-10%

-8%

-8%

-9%

5%

-6%
Condos

$335,642

$278,291

$325,260

$278,252

$218,031

$195,968
Percent Change

8%

-17%

17%

-22%

-22%

-10%

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.

Price Range $0 – 99K $100 – 199K $200 – 299K $300 – 399K $400 – 499K $500 – 599K $600 – 699K $800 – 999K > $1M
Units Sold 81 302 328 219 117 88 88 49 55
Average Days on Market 168 191 208 267 270 264 260 302 308

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

Price Range

Number of Listings

Price Range

Number of Listings
$1 – $99,999K

73

$600K – $699K

109
$100K – $199K

230

$700K – $799K

51
$200 – $299K

330

$800K – $899K

58
$300K – $399K

324

$900K – $999K

38
$400K – $499K

217

> $1M

121
$500K – $599K

173

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 2011Seaside Report: Distressed Property Market Overview – Q4 2011

 

Average

Median

Days On  Market

Q4 11

$290,550

$205,000

225

Q3 11

$306,648

$239,950

231
% Change

-5.25%

-14.57%

-2.60%

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 – January 2012
Seaside Report: Average Booking Window - YoY Variance - January 2012Seaside 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 2012Seaside Report: Average Length of Stay – January 2012
Seaside Report: Average Length of Stay - YoY Variance - January 2012Seaside 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 2012Seaside Report: Average Stay Value – January 2012
Seaside Report: Average Stay Value - YoY Variance - January 2011Seaside 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 2012Seaside Report: Bookings – January 2012
Seaside Report: Bookings - YoY Variance - January 2012Seaside Report: Bookings – YoY Variance – January 2012
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2011 Coldwell Banker Seaside Realty Awards Ceremony

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2011 Coldwell Banker Seaside Realty Awards Breakfast

2011 Coldwell Banker Seaside Realty Awards Breakfast

This week we celebrated the end of 2011 with the 2011 Coldwell Banker Seaside Realty awards breakfast. It was great to have the full team together to look back on the successes from 2011 and look forward to the great opportunities ahead in 2012.

Congratulations to the top producers, and to all of CBSR for a strong 2011 in Outer Banks and Northeast North Carolina real estate sales.

Thanks to Chili Peppers for a fantastic breakfast.

Agents of the Year:

  • Brad Beacham – Kitty Hawk
    • President’s Circle award winner
  • Diane Harris – Elizabeth City
    • Sterling Society award winner

Listing Agent of the Year:

Here’s a quick video of the highlights:

Currituck County Continues to Deny Off-Road Development Plans

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After reporting previous attempts of developer Gerald Friedman requests for rezoning that would have allowed a hotel and shopping to be placed in the 4 X 4 area of Swan Beach, Currituck County continues to oppose the project.

More than 100 people showed up at Monday’s meeting to show disapproval of the project.

If one property was granted commercial status others would follow, said Vance Aydlett, chairman of the Currituck County Board of Commissioners. The vote was unanimous. County planning staff and the planning board also had recommended denial.

“Once you open that Pandora’s box, it’s over with,” Aydlett said Tuesday.

The county’s land-use plan calls for limited development in the four-wheel-drive area, north of Corolla. No roads are paved. Friedman continues to claim that the tract in Swan Beach was set aside for commercial use and signed by the chairman of the county Board of Commissioners on September 2nd, 1969.

He also claims his project is no more intrusive than a 23-bedroom house used for weddings and various home businesses operating in Swan Beach and Carova.

Home businesses are allowed under certain restrictions, Aydlett said. In response, county inspectors found nine home businesses not in compliance. Most are making changes to comply with the county ordinance, but at least two have not responded, said Ben Woody, director of the Currituck County Planning Department.

Looks like Currituck stands firm in keeping these sections of the Outer Banks free from commercial businesses and maintaining the habitat of over 100 wild horses.

Coldwell Banker Honored by the Webby Awards

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COLDWELL BANKER REAL ESTATE LLC RECEIVES 2011 WEBBY AWARDS
“OFFICIAL HONOREE” DISTINCTION

Only National Real Estate Brand Honored in Website Real Estate Category
PARSIPPANY, N.J. (April 15, 2011) – The Coldwell Banker Real Estate LLC website, coldwellbanker.com, has been named a 2011 Official Honoree of The Webby Awards, the leading international award honoring excellence on the Internet. The website, developed in partnership with FD kinesis and Bootstrap Software, was recognized as the only national real estate brand in the Website Real Estate category.

In its 15th year, the Webby Awards is now well-established as one of the Internet’s most respected symbols of success, receiving nearly 10,000 entries from 60 countries worldwide.

“We work tirelessly on coldwellbanker.com to keep it an intuitive, informative and enjoyable experience for everyone, and we believe that by providing the right kinds of tools and technology, our consumers can make smarter decisions,” says Helen Galasso, vice president of platform development and eBusiness, Coldwell Banker Real Estate LLC.  “We’re proud of this distinction because it is recognition of our longstanding tradition of innovation and leadership within the real estate industry.”

\Winners were chosen by the International Academy of Digital Arts & Sciences, a global organization whose members include director Darren Aronofsky, Martha Stewart, Huffington Post Media Group President Arianna Huffington, Twitter Co-Founder Biz Stone, musician David Bowie, and Internet co-creator Vint Cerf, Virgin Group Chairman Richard Branson, and R/GA Chairman and CEO Bob Greenberg.

Winners in the website category were selected based on the following criteria: content, structure and navigation, visual design, functionality, interactivity and overall experience.

Highlights of the Coldwell Banker website include:

  • BlueScapesm — Unique from other real estate search platforms, BlueScape is an entirely visually-driven way to help “dreamers” find just that – the home of their dreams.  Instead of limiting search options to zip code or the number of bedrooms, users begin the search by rating abstract images with a “thumbs up” or “thumbs down” from landscape scenery to images of snow mobiles and taxi cabs. At any time, they can submit a query and the BlueScapesm technology will identify homes that are a good fit.
  • Lifestyle Search – Using an intuitive tool bar, consumers can weigh lifestyle factors such as “fun and trendy” against mass transit options, art and music, and even access to golf courses nearby.
  • Affordability Radar — In any search, a consumer can set budget parameters through the radar on the properties that are shown.  Based on the person’s current monthly expenses, the radar will display the estimated monthly cost of each property, and how it fits into that person’s current expenses each month.

About the Webby Awards

Hailed as the “Internet’s highest honor” by the New York Times, The Webby Awards is the leading international award honoring excellence on the Internet, including websites, interactive advertising, online film and video, and mobile websites. Established in 1996, the 15th Annual Webby Awards received nearly 10,000 entries from all 50 states and over 60 countries worldwide. The Webby Awards is presented by The International Academy of Digital Arts and Sciences. Sponsors and Partners of The Webby Awards include: Microsoft Expression; AOL; YouTube; Pepsi; Aquent; Yahoo!; HP; Sony Electronics; .CO; Corbis Images; Rackspace Hosting; Motorola; Southwest Airlines; East Media; IDG; PricewaterhouseCoopers; 2advanced.Net; Museum of the Moving Image; Behance; Business Insider; Time Out New York; paidContent and The Guardian.

Vacation Rental Market Growing 4 Times Faster than the U.S Economy

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Outer Banks Vacation Rental Home

Outer Banks Vacation Rental Home

Vacation Home Rentals recently named the Outer Banks one of the top growth markets for vacation rentals in the United States. Studies show that the vacation rental market is expected to grow 13.1% in 2011, more than twice the rate of the travel market and four times faster than the U.S economy. About 85% of vacation rental property owners expect 2011 to be as good as, or better than 2010. The OBX is projected to have a 20% increase from last year alone!

Vacation rental property owners believe this growth may be attributed to the fact that vacationers are looking for small, reasonable destinations they can drive to, rather than fly.

With this news coming from one of the most visited vacation rental sites in North America, there is a lot to look forward to this year. Whether interested in buying a potential vacation home or searching for a weekend getaway Coldwell Banker Seaside Realty and Seaside Vacations can help you find your own beach oasis.

Coldwell Banker Seaside Realty January Agents of the Month

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BEACHAM, WILLEY LILLEY NAMED TOP AGENTS FOR JANUARY 2011

KITTY HAWK, NC (February 28, 2011) — Brad Beacham and The Willey Lilley Team are “Agents of the Month” for January 2011 at Coldwell Banker Seaside Realty.

Brad Beacham is “Agent of the Month” for the Kitty Hawk office.  Brad has been a consistent top producer and last year he was in the top 2% of all real estate agents in the area.  Brad was also featured in Realtor Magazine’s 30 Under 30 in 2005.  Brad lives in Kitty Hawk with his wife Rachel and children Emily and Seth.  He enjoys time with his family, surfing, basketball and most water related activities.  Brad is also active in service at his local church, Liberty Christian Fellowship. Brad services all real estate in Dare and Currituck counties while striving to give his clients the absolute best service and representation possible.  Brad can be reached directly at 252.255.6458 or via e-mail at brad@bradbeacham.com.

The Willey-Lilley Team is the “Agent of the Month” for the Nags Head office.  Hugh “Scooter” Willey, the team leader, is recognized by his peers as a skillful negotiator with mortgage lien holders in successfully closing distressed properties. His current designations include the Accredited Buyer Representative (ABR), Resort & Second Home Property specialist (RSPS) and Short Sale & Foreclosure (SFR).  Gerri Willey’s forte is management of their websites, overseeing their real estate marketing and assisting to ensure a “smooth closing” for their clients. Team member Robin Lilley has earned her Short Sale & Foreclosure Resource designation (SFR) and has enjoyed helping make others’ dreams come true with purchasing property in this idyllic setting. As a team, they strive to sell their own listings utilizing a robust internet marketing presence to generate demand for their properties.  Hugh “Scooter” Willey can be reached at 252.489.8491 or via e-mail at hugh@seasiderealty.com.

Agents of the month are the top sales volume producers in each Coldwell Banker Seaside Realty office.

Founded in Kitty Hawk, NC in 1990, Coldwell Banker Seaside Realty has office locations in Kitty Hawk and Nags Head, NC. More than 50 licensed agents provide both residential and commercial buying/selling assistance in Northeastern North Carolina.

Will Real Estate Turn Around in 2011?

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Is relief finally on the way in 2011? The Wall St. Journal recently published an article indicating that 2011 could be the year real estate turns around. It’s hard to be sure, but there may be some good news in 2011 about the nation’s struggling housing market…or at least, the bad news could come to an end.

Either way, it will be welcome relief for current homeowners as well as for potential real-estate investors. Reasons to be optimistic have been sadly lacking since the housing bubble burst.

Last week we learned from the widely watched S&P/Case-Shiller that the home-price index fell 1% in December; its fifth straight decline. But what’s new? In this case, what goes down must come up. If forecasters are correct it might make sense to jump into real estate. The trick is avoiding getting burned again, and it doesn’t necessarily mean owning a home.

Let’s recap a few economic signs that seem to support the belief that a bottom is close.

Houses Are a Good Deal

Housing is the most affordable it has been in decades – analysts consider not only home prices but average family incomes. Nationally, the cost of a house is the equivalent of about 19 months of total pay, the lowest level in 35 years.

“Pricing is down so much in some markets that when you analyze renting versus owning it makes much more sense to own,” says Michael Larson, a real-estate analyst at Weiss Research in Jupiter, Fla.

In the end, it will be affordability that will drive people to buy homes. But what about timing?

Consider this: In some markets, home prices have fallen by half or more since 2006. Even if prices fall another 5%, it’s a small margin in the grand scheme.

Investors Stepping Up

One of the best indicators that the market is nearing a bottom is when investors are buying up houses and condos, in some instances paying entirely in cash.

Take Miami again. Last year, more than half of all transactions were made entirely in cash, according to a recent report in The Wall Street Journal. That compares with 13% of deals in the last quarter of 2006, the height of the bubble. Similarly, in Phoenix 42% of sales in 2010 went to all-cash buyers, up threefold since 2008. It seems like these investors are betting on a rebound in the near future.

Plan to Stay Put

Buy and hold. While the good news is that the worst of the housing crash might be over, the bad news is that the fast gains of the glory days of 2005 and 2006 won’t be back any time soon. To avoid heavy losses and driving down neighborhood values, plan to own for the long-term…10+ years is a good bet.

Below is a graph from AOL Real Estate showing home prices in the Kitty Hawk, NC real estate market. With Kitty Hawk home prices being sold far above state and national averages, the OBX may be more fortunate than we assume.

The OBX – a strong real estate market getting stronger in 2011?! The magic 8-ball seems to be pointing to yes.

AOL Real Estate - Kitty Hawk - 3.2.11

AOL Real Estate - Kitty Hawk - 3.2.11

Outer Banks Makes TripAdvisors Top 10 List of Vacation Rental Hot Spots for 2011

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Outer Banks Sunrise

Outer Banks Sunrise

TripAdvisor®, dubbed the world’s largest travel site, today announced America’s top 10  vacation rental hot spots for 2011, based on TripAdvisor search data and site editors. The Outer Banks landed at number 7!

Top 10 Vacation Rental Hot Spots in the U.S.

1. Kissimmee, Florida
2. Big Bear Lake, California
3. Gatlinburg, Tennessee
4. Kihei, Hawaii
5. Destin, Florida
6. Palm Springs, California

7. Outer Banks, North Carolina — 1,302 vacation rentals on TripAdvisor
A narrow strip of land just off the Atlantic Coast, the Outer Banks boasts miles of picturesque beaches and a wide array of wildlife, including herds of wild horses that roam the beaches in the northern portion of the islands.

Potential Vacation Rental Savings: $1,580 for a weeklong trip.
*All Seaside Vacations homes are listed on TripAdvisor

8. Lahaina, Hawaii
9. Hilton Head, South Carolina
10. Cape Cod, Massachusetts

“Vacation rentals can offer families and groups of travelers significant savings over other accommodation options,” said Hank Hudepohl, director of vacation rentals at TripAdvisor. “Our list shows off some of the best vacation rental destinations in the U.S. where travelers can save big, ranging from prime summer beach spots to areas with first-rate ski resorts.”

More information about TripAdvisor’s more than 100,000 vacation rentals listings from around the world, as well as its innovative Vacation Rentals Calculator, can be found at:http://www.tripadvisor.com/vacationrentals.

† Average potential savings versus a hotel based on a group of four travelers using the TripAdvisor Vacation Rentals Calculator.

The Travel Industry Sees a Strong Year in 2011

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"True Friends"

"True Friends"

The Outer Banks is a huge tourism draw; so a big year for travel generally correlates to a good year for the OBX economy and the OBX real estate market.

It’s great to see very positive projections for 2011 coming from the travel industry.  The travel industry is a major piece of the US economy, and the past couple years have seen a decline in travel do the economic woes.  But 2011 seems to be poised for growth.

Here are some of our recent posts about positive news from experts in the travel industry:

1. Frommers.com sees a surge in vacation rentals.
2. Y Partnership sees positive travel trends for 2011…especially vacation rentals.
3. TripAdvisor projects a big year for vacation rentals.

In addition, a newspaper out of Minnesota recently ran an article discussing the confidence that is replacing caution throughout the travel industry.

The article points out that “The highly respected U.S. Travel Association which represents all segments of the industry — airlines, cruise ships, rental cars, hotels and the like — predicts that the industry “will be above water” in 2011, with domestic travel up modestly and business travel slightly better than leisure travel.”

The piece goes on to mention that “Orbitz, one of the leading Internet travel sites, surveyed more than 3,000 U.S. travelers and noted that “Americans appear eager to pack their bags” this year.

Some 36 percent plan to spend more on leisure travel in 2011 than in 2010, and 42 percent plan to spend the same amount. Ninety percent plan to take two or more leisure trips in 2011, slightly more than in 2010.”

Good news all around.  Here’s to a big year in travel for 2011!

TripAdvisor Projects Big Year for Vacation Rentals in 2011

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"The Good Life"

"The Good Life"

Survey Shows Increased Interest in Vacation Rentals, With 40 Percent of Travelers Planning a Rental Stay in 2011

TripAdvisor®, the world’s largest travel site, recently announced the results of its second annual vacation rentals survey of more than 1,400 U.S. travelers.

Thirty-three percent of travelers said they stayed in a vacation rental in 2010, and forty percent of respondents said they are planning a vacation rental stay in 2011, indicating that rental homes are poised for a busy 2011.

From Hank Hudepohl, director of vacation rentals at TripAdvisor:  “With an increased interest in vacation rentals on TripAdvisor and a similar trend shown in our survey, it’s shaping up to be another strong year of growth for rentals.  For travelers staying with larger groups in 2011, a vacation rental is a great option to consider for its home-like amenities and affordable pricing compared to hotels.”

Here are some of the results from the survey:

Summer is the busiest vacation rental season…
Summer projects to be the most popular season for vacation rental stays in 2011, with 52 percent of U.S. travelers planning a rental home stay during the warmer months. In addition, 47 percent of respondents are planning to stay in beachfront villas, making them the most popular vacation rental type for 2011. The most popular U.S. region for rental stays in 2011 is the Southeast (31 percent) according to the survey. This was followed by the Southwest and the Northwest, which came in second and third, respectively.

Best part of a vacation rental…
When asked what travelers liked the most about vacation rentals as a lodging option:

  • 28 percent cited more space
  • 23 percent of travelers enjoyed having access to a full kitchen
  • 13 percent liked that rentals were often less expensive than hotels

In addition, 41 percent of respondents said vacation rentals were the best option for a trip when staying in a destination for a week or more, while 33 percent thought they were the best option when staying with a large group.

Booking early pays off…
Twenty-nine percent of travelers either always or often stay in the same rental year after year. Of the travelers who stayed in a vacation rental in the past:

  • 22 percent booked their rental home more than six months prior to the trip
  • 34 percent of travelers booked their rentals between three and six months out
  • 22 percent booked between one and three months out
  • 2 percent of travelers booked their vacation rental less than one month out

Vacation Rental vs. Hotel…
Eighty-seven percent of respondents said they would choose to stay in a vacation rental over a hotel if it were significantly less expensive. In addition, 80 percent of travelers would book a last minute vacation rental stay if they found a great deal.

Luxury vacation rental features…
If travelers had their pick of luxury vacation rental features:

  • 51 percent would choose a rental home with a private beach
  • 12 percent would choose a rental home with maid service
  • 9 percent would choose a rental home with a hot tub
  • 8 percent would choose a rental home with a personal chef

Vacation Rentals and life events…
According to the survey, 36 percent of travelers who have rented in the past have stayed in a vacation rental for a milestone life event, such as a wedding, birthday or reunion.

Know Before You Go…
When deciding between different rental properties, the key influences cited by respondents are:

  • Photos of the home (42 percent)
  • Traveler reviews (27 percent)
  • Cost of staying at the properties (13 percent)

Power of the internet and friends’ advice…
Most travelers find out about vacation rental properties on the Web, both on vacation rental property websites (70 percent) and online travel websites (55 percent). In addition, 25 percent of respondents find out about particular homes by word of mouth from friends and family.

The Outer Banks is the perfect beach vacation…a great combination of peaceful relaxation and fun local activities/attractions; gorgeous beaches, a wide variety of water sports, world-class fishing and surfing, great local art and shopping, delicious local food, history, nature, etc.

The OBX offers great vacation rental homes for all types of travelers; small beach bungalows to large beach front estates.

Please let us know if we can help you plan your next trip to the Outer Banks: www.OuterBanksVacations.com.