Outer Banks Real Estate

30 year fixed rates slightly down this week

The rates for 30 year fixed rate mortgages have gone down slightly this past week.  Mixed economic news has had little effect on long term rates.  Markets will close early today and Monday. 

Graphic courtesy of MSNBC.

Creative ideas for your camera phone

The website 43 Folders has a great post about creative ways to use your Camera Phone.  I personally like the following:

• Wish List

• Man with four kids. They invented a great way to keep themselves busy at a restaurant. One of them takes an extreme closeup of some object while the others don’t peek. Than they have to figure out what it is a picture of… hours of entertainment.

Things I won't have a need for - take a picture where I parked the car.  One of the advantages of living on the Outer Banks.

Mortgage Applications lowest levels in over three years

It is quiet on the Outer Banks.  According to USA Today, the mortgage business is slow all across the country.  Applications have dropped to their lowest level in 3 1/2 years. 

The Real Estate business on the Outer Banks is typically slow this time of year.  Things should pick back up once the weather warms up a bit. 

It was actually very nice today - 60 degrees and the ocean was super smooth.  There were lots of small boats in the ocean today trying to catch the delicious striped bass. 

Real Estate and Mortgage Blogs

Realtors and Loan Officers are using blogs to promote their business.  Here are a few links:

Lenderama Mortgage Blog from Littleton Colorado

Business Weeks Real Estate - Hot Property

Luxury Sarasota Living from Florida

The Jersey Shore Real Estate Bubble

Pacesetter Mortgage Blog

Toronto Real Estate

More news about the housing market and interest rates

News Flash...

For those that have been too busy dealing with relatives over the holidays - you might not have heard the latest news on the economy.  The housing market is slowing down.  New Home Sales dropped in November to their lowest levels in 12 years. 

It seems like everyone is talking and/or writing about the Real Estate Bubble and whether it will pop or just let out some hot air.  Let's all hope it is the latter.

The good news is that there might be an end to the interest rate hikes that the feds have been implementing for two years.  Sounds like we are in for two more increases (January and March of 2006) and then we might have a break. 

Coast Guard Team moves from Hatteras to Wanchese

The Coast Guard Aids to Navigation Team Cape Hatteras has moved to Wanchese on Roanoke Island NC.  The Coast Guard is moving the team to be more centrally located to their service area which extends from Ocracoke Island up to Albemarle Sound.

New Construction on the Outer Banks

There is a wave of construction as you enter Dare County from the Wright Memorial Bridge.  There are many new projects going on around Mile Marker 1.  A few new banks, an ABC store and a new shopping center are all being built and should be finished in time for grand openings in the spring. 

Microsoft working with Mozilla...

Looks like Microsoft and their new version of Internet Explorer IE7 have worked with the Mozilla (the firefox people) to come up with the international standard for feeds from blogs.  And the winner is...

Now I know this is not going to make the front page, but it is a significant step forward for blogging.  For those that have drank the koolaid, you know what the orange rss, xml, atom feed logos mean.  For the rest of the world, we now have a symbol supported by the two major players in the market that represents feeds. 

First Flight Society celebrate 102nd year of flight

December 17, 2005 was the 102nd anniversary of Orville and Wilbur Wrights historic flight on the Outer Banks of North Carolina.  The First Flight Society held their annual celebration and this years dedication was to the first people that actually jumped out of working airplanes.  There were also flyovers from vintage aircraft to F15s. 

Feds raise rates - but there might be an end in sight

Alan Greenspan and the Federal Reserve Board again raised short term interest rates to 4.25% (up from 1% 18 months ago).  What is not in the verbiage is the long term plan to increase rates.  This welcome news has had a positive effect on bonds which is good for mortgage rates.  If the economy stays on the current track, we may see an end to rate hikes at the Fed Meeting in March which will have rates at 4.75%.