U.S. News and World Report has ranked the Outer Banks as the #1 Best Family Beach Vacations in the USA. Of course, to those of us who live here, we’ve known this all along! Here is an exerpt from the article, “And each island has its own charm: The old lighthouses, rugged dunes and secluded beaches in the south couple with vacation rentals, water sports and kitschy beach shops in the north, all to form a unique seaside destination.”
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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
Outer Banks - Carova Map
The Virginia Pilot reports that a longtime Outer Banks developer is making another attempt to gain approval to get nearly 26 acres rezoned for business in the Swan Beach community. This is the developer’s third time presenting this request, and he will be going before county commissioners on May 16th.
There is some contention about whether the area should be considered zoned for business or residential use.
The tract of land in Swan Beach was set aside for commercial use on an original plat dated Sept. 2, 1969, and signed by the chairman of the county’s Board of Commissioners, the register of deeds and the clerk to the board. The four-wheel-drive area was then zoned residential in the 1970s, and some believe that takes precedence over the original plats.
In addition, the area falls under the federal Coastal Barrier Resources Act, which discourages development, and it also falls under the county’s land-use plan, which limits business growth.
Outer Banks residents have consistently been opposed to commercial building in the area, convinced that these developments would take away from the natural pristine environment. To complicate things further, wild horses roam in preserved tracts such as the Currituck National Wildlife Refuge.
Will the developers continue to battle the county for approval? Should there be commercial space where the wild horses run free?
What’s your opinion?
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.
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 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:
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:
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:
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:
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.
Seaside Vacations - Sandy Oasis
In his most recent blog post on Frommers.com, Arthur Frommer gives some predictions for the 2011 year in travel, and a surge in vacation rentals is what he sees.
Arthur Frommer published his first travel book in 1957! Since his first publication, the Frommer’s collection of travel products has grown to over 300 guidebooks, and a popular travel website, www.Frommers.com.
Based on 50+ years of travel guidance, Frommer is a very good analyst of the travel industry.
Coming in at #1, here’s what Frommer had to say about vacation rentals:
1) A Greatly Increased Use of Apartments and Vacation Homes in Place of Standard Hotels
It’s the most pronounced trend in travel…because of the skyrocketing popularity of such alternative accommodations. Large segments of the traveling public are today convinced (and they’re right, in my view) that apartment/home rentals cost much less than hotels and improve the quality of the stay.
The Outer Banks of North Carolina is becoming a favorite of travelers everywhere!