Outer Banks Real Estate

Win a pair of tickets to the Outer Banks Beach Music Festival

The Outer Banks Beach Music Festival will be held on August 19th 2007 at the Roanoke Island Festival Park.  Gates open at 11 and the music begins at 12:00.  This years event has 5 great bands and a shag contest. 

• The Band of Oz
• The Embers
• The Coastline Band
• The Johnny Dollar Band
• Nini Camps

Tickets are available in advance for $20 or at the gate for $25.  Tickets can be purchased online or at any of the following locations:

• Brew Thru
• Coastal Provisions Market
• Coastal Provisions Deli
• Big Al's Soda Fountain and Grill
• Roanoke Island Festival Park

Now for the ticket giveaway.  I am offering two tickets to the person that can guess the identity of the picture below.

Enter your guess in the comments section - the first person with the correct answer wins.  Make sure you enter your email address in the comment form so I can contact the winner (email addresses won't be published).  Good luck and I hope to see you at the concert.

Congratulations to Tommy - this is a fish scaler.  Please send me your address no later than this Friday and I will send you the two tickets.  Honorable mention to Robin for guessing a wallpaper scraper.   Great guess.  Thanks to everyone for playing.  You can find details about this product at Kevin Kelly's Cool Tools site.

Bodie Island Lighthouse Scheduled to re-open this week

Good news for Lighthouse enthusiasts - the Bodie Island Lighthouse is opening this week for tours.  Bad news is that you will not be able to climb the spiral staircase.  The park service has just completed a $100,000 emergency repair which tied cables around the corroding iron supports on the balcony.   According to the Virginian-Pilot, a $3.4 million restoration is scheduled for 2008. 

You can find more information (map) and pictures of the Lighthouse at Stephen Wilmoth's web site .

Lies, Damn Lies and Statistics - The Real Estate Market Conditions on the Outer Banks

For anyone that has every taken a statistics class, you have probably heard the title phrase.  In the Real Estate world, many use statistics to prove their point.  The National Association of Realtors announced yesterday the big drop in existing home sales but put the "statistical spin" by saying the good news is that the median price increased. 

Everyone wants to know about Real Estate market conditions on the Outer Banks.  I found an article on a local blog that bothered me.  Much of the article focused on the national and regional (North Carolina) Real Estate numbers.  Real Estate is local and what happens in Charlotte and the Triangle has nothing to do with the market conditions on the Outer Banks.  The problem was how the author portrayed the Outer Banks Real Estate Market as "hot".

The bright spot on the Outer Banks statistics is found in comparing homes under contract in the first two months of 2007 compared to 2006. With 211 units contracted this year compared to 123 last, that’s an increase of 72%. Land sales remain highly depressed on that same measure: down 67% compared to 2006. Tip O’Neill once said that all politics is local, and real estate is all about the specific location. The top submarkets for homes on the Outer Banks, based on activity so far this year, are Kill Devil Hills, Nags Head, Kitty Hawk, Corolla, and Duck. Another bright spot is that median pricing in February is down only 1% from the same month in 2006. Back in July of 2006, the median price was down nearly 20% from a year earlier.

Here are some of my observations

• The market YTD is down 30% over the same 6 months last year.
• The top submarkets for homes - did he say Corolla?  Corolla is hurting today.  Some of the developments have 7 years of inventory on the market today. 
  
• The fact is that home prices on the Outer Banks are down between 15 - 25% from prices three years ago.
  

Don't get me wrong.  I make my living providing mortgages to people that want a piece of the Outer Banks.  I understand people trying to keep a positive attitude.  The problem I have with this article is how the facts are skewed to make buyers believe it is a hot market.

There are some great opportunities available today.  Some sellers are willing to make significant concessions.  The number of foreclosures on the Outer Banks seem to be picking up correction - thanks to Chris Toolan from Village Realty for pointing out that Outer Banks Foreclosures are down compared to last year - more on that later.  And finally, income from rentals is strong according to the rental companies I have spoken with.  It sure does help offset the cost of owning that second home at the beach.  Feel free to drop me a line if you have any questions.

Judge Halts Beach Driving on Hatteras National Seashore

Who would have thought a harmless little Piping Plover could create such controversy?  The endangered bird is not the real cause of the driving ban.  It just so happens that the order was implemented just days after a few beach accesses were closed due to some nesting plovers.

A Federal Judge has put an immediate stop to all beach driving from Oregon Inlet to Ocracoke.  Judge Terrence Boyle ordered beach driving to be halted until an off-road vehicle plan is implemented.  The case involves an unsafe driving incident that happened over Memorial Day weekend - here is an excerpt from the WRAL Story:

Boyle's order was based on a criminal case over the Memorial Day weekend. In that case, Vasile Matei was accused of operating a vehicle without due care.

During Matei's trial, Boyle questioned the lack of off-road vehicle rules that the Park Service can enforce. In Wednesday’s order, Boyle said the lack of rules endangers both beach-goers and endangered species that live on the Cape Hatteras National Seashore.

The message boards are very busy with comments about the ruling.  As Michael Buffer would say - Let's Get Ready To Rumble...

Update 7-19-07:  According to an article in today's Virginian-Pilot, the National Park Service Superintendent has decided for the time being that the beaches will remain open to off-road vehicles except for the areas closed for the Piping Plovers. 

Shuttle Service for Outer Banks 4WD area

I received an email from a vacationer looking for a shuttle service to the 4WD areas on the Outer Banks:

Hi Ronnie,

we've been coming to the outerbanks for three years now, and as of now have relied on friends to shuttle us up and down the 4X4 section in corolla.  why does there not exist a shuttle service that will take a family from their vehicle (in our case our van) to their rental up the beach, for a fee of course.  This would also be quite handy for those experiencing cabin fever during a two week stay and are looking for a day trip.  the shuttle would come and pick us up, take us to our car, and then when the day is done, return us back to the house.  If it exists, I have been unsuccessful in finding it.  maybe some locals would like to make a few bucks during the busy summer season?  please let me know if you have any info on this.

-Heather

I had not heard of such a service so I put the question on a local message board and found the solution for Heather.  Welcome Barrier Island Eco Tours. 

I spoke with the owner Bill Clayton and he is more than willing to help Heather and any others that have transportation needs in the 4WD areas.  You can reach them at 252-457-0224

I would have probably enjoyed riding a school bus if it looked like this. 

 

Affordable Housing on the Outer Banks

The words affordable housing and Outer Banks are typically not heard in the same sentence - until now.  The Outer Banks Community Development Corporation has approved the application for the developers and ground breaking is scheduled for July 30, 2007.  The 20 unit development will be located at 901 Ninth Avenue in Kill Devil Hills.  The executive director also announced another 21 unit development scheduled to be built in Waves.  The Outer Banks Sentinel has a great article which explains how the proposal will work.

Saturday Traffic on the Outer Banks

The following pictures were downloaded from the North Carolina Department of Transportation Website that includes traffic cams in and around the Outer Banks.   I wish they had a link directly to the Outer Banks - to get there just click on the icon in northeastern North Carolina and you can then zoom into the Outer Banks. 

This is the scene at the foot of the Wright Memorial Bridge looking from Powell's Point towards Southern Shores and Kitty Hawk.  It was captured at 10:46 A.M. and you can see Elvis is leaving the building.

The second image is from the same camera taken at 5:28 P.M. this afternoon.  Looks like a few families coming to the beach for the week.  This is the traffic you really don't want to be in if you can help it.  For those heading towards Corolla - I bet you wish that Mid Currituck Bridge was completed.  An $8 one way toll doesn't sound so bad after all.  It would probably cut down on the number of times you have to answer - Mom, when are we going to get there?

Outer Banks Blog Scene

The Outer Banks Blog scene has been quite active this summer.  The number of local bloggers continues to grow and covering subjects from charter boat fishing to local politics.  There are a few blogs I would like to highlight - the Ronnie Roach Cliffs Notes version of OBX Blogging.

Paula the Queen of the Surf Pirates - has been spearheading an effort to allow free speech without harassment on our local blogs.  Go Paula!

Bob Muller from View From The Ridge followed up with timely posts about responsible commenting and support for eliminating bully tactics intended to silence the local bloggers.

Outer Banks Republic wrote a very compelling piece about why he supports Beach Nourishment.  I know this topic never seems to go away but I really appreciated the time and thought that was put into this post.  Whether you are for or against beach nourishment, I believe any reasonable person can relate to the points addressed by Monty.  Paula once commented that the pro beach nourishment group needed a better front man.  I believe Monty would be a great fit.

On a lighter note - the folks from Village Realty gave a lesson in "How to speak like a local".  Good stuff.

Bill from Bill's OBX Beach Life has a new toy - a waterproof video camera that he takes while windsurfing.  Pretty cool toy.

I have also found quite a few vacationers that blog about their Outer Banks Experience.  A couple to note -

Fred Black - Found his site when he posted about visiting this summer.

Miles and his Favorites has been documenting their vacation - I thought vacation was a time to relax.  This guy is doing it all.  He will need a vacation when he gets home. 

Mid Currituck Bridge Update

The North Carolina Turnpike Authority would like to narrow the playing field for where to build the Mid Currituck Bridge.  There are currently six options on the table - three on the mainland side and two on the Outer Banks.  The bridge construction is scheduled to begin in 2010 with a scheduled opening in the fall of 2013. 

You can read more details in an article published in the Daily Advance. 

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Found a funny site that you can answer 14 questions to see how addicted you are to blogging.  They even provide some html code so you can share your results with others.  I think this is a great marketing idea.  See for yourself how bad you have it.