Outer Banks Real Estate

Poll Results - What is your favorite time to visit the Outer Banks

My first poll asked readers about their favorite time to visit the Outer Banks.  The poll was created a couple of months ago using Vizu - I actually stole borrowed the idea and the poll from Bill's OBX Beach Life.  Bill has a global readership interested in the awesome windsurfing and kite boarding offered on the Outer Banks. 

This afternoon I decided to create a new poll - but my real surprise came from the poll results.  Vizu offers some great features - including map based results. 

• Most popular time to visit - Anytime is a good time with 28.6% of the votes
• Least popular time to visit - May with 0 votes
• Farthest North voter - Davenport, Iowa - September
• Farthest West voter - Denver, Colorado - June
• Farthest East voter - Jamaica, New York - August
• Farthest South voter - Stedman, North Carolina - September

Thanks for all of those that participated.  The new poll asks what is your favorite OBX destination.  Cast your vote today.

Bonner Bridge Replacement Update

Short is the new long.  The Virginian Pilot reported that the short option replacement for the Bonner Bridge has been approved with a phased approach of adding short bridges in troubled spots along Pea Island.  The panel of four met for three hours yesterday and agreed that the short bridge option made the most sense to all. 

You can find the cost estimates and a detailed newsletter that explains each option.  This is good news for the Outer Banks.

Update to the Update 8/29/2007:  A day after a panel picked the short bridge option - two environmental groups have questioned whether the panel had the legal power to make the the decision.  The Southern Environmental Law Center and Audubon North Carolina have written a letter to the White House Council on Environmental Quality asking for an investigation in the matter according to the Virginian Pilot.  Here we go - again.   

Another OBX blog

I don't know how I missed this one - I have been subscribing for quite some time and I just assumed they were already on my local blogger list.  My apologies to Lyndi.

The Beach Bus is a local blog about Outer Banks Weddings and Tour Transportation.  It is a great resource for those considering getting married on the Outer Banks. 

I have been the officiant for two weddings.  My sister in law was getting married out of town and did not have a relationship with a local church.  They were visiting one weekend and the conversation went something like this:

Sister in Law - Hey Ronnie, you would be a good officiant.
Me - Yeah, that would be funny.
Sister in Law - Would you be willing to do it?
Me - Oh Yeah, sure I will marry you.
Sister in Law then pulls out a packet from her bag with all of the details about what I need to do in order to make this happen.  I was joking - she was not.  Wedding went great. 

Tying the knot on the Outer Banks is big business.  Each year we have a wedding expo - the next one will be January 5-8, 2008.  Stay tuned to the Beach Bus - I am sure they will be providing all of the details. 

Starbucks on the Outer Banks

The Outer Banks is about to get their first Starbucks Coffee in Kitty Hawk.  It will be located at mile marker 1 in the Food Lion Shopping Center.  The coffee shop along with an Italian Ice shop will be across the street from our award winning ABC store. 

We are very fortunate to have a few awesome coffee shops here on the Outer Banks.  The Front Porch Cafe has two locations (mile marker 6 and 11).  They roast their beans at the Kill Devil Hills location and both offer free wi-fi access. 

Outer Banks Real Estate Maket Conditions - June 2007

Tom and Louse Hranicka from Outer Beaches Realty recently published a newsletter about the Hatteras Island Real Estate Market Conditions.  They compared sales in June 2007 to those of June 2006.  Good information for all.

2nd QUARTER MARKET UPDATE

Sales results for the Hatteras Island market continued to be lethargic during
the second quarter. This pattern was also characteristic of the first half of
the year. While the number of properties for sale was reasonably stable, residential
sales declined relative to the first quarter and in relation to the same period
last year.  Lot sales showed some improvement, but still reflected significant
weakness in demand relative to supply. These are some of the key statistics:

Hatteras Island Real Estate Market April - June 2006 vs. 2007

RESIDENTIAL
# FOR SALE (-5.1%)
# SOLD (-30.2%)
VOLUME (-48.0%)
AVG SALE PRICE (-24.7%)
MEDIAN SALE PRICE (-20.0%)

LAND
# FOR SALE (-4.9%)
# SOLD +10.0%
VOLUME (-38.6%)
AVG SALE PRICE (-44.2%)
MEDIAN SALE PRICE (-25.0%)

When you evaluate these results, please keep in perspective the relatively small
numbers of sales that underly the percentages. Only 30 residential sales and
22 unimproved lots were sold during the second quarter of this year.

With supply exceeding demand by a wide margin, quarterly median residential selling
prices have declined about 35 percent from $590,000 to $380,000 since the buyer's
market began in 2005, while median lot prices are off about 15 percent, decreasing
from $265,000 to $225,000.  Again, please be aware that these are general market
statistics, and price changes vary widely by village and by oceanside or soundside
location. One thing that we can observe is the fact that buyers are showing a
preference for lower priced cottages and lots. The selling prices of residential
properties are concentrated in the $300,000 to $400,000 range, while the sale
prices of lots are clustered below $300,000.

The Hatteras Island Pending Home Sales Index has been in a downward trend since
last fall. This index, which reflects the level of 'under contract' activity
on the island, is currently at about 45 percent of the average level during the
base year of 2001, the first of the boom years. The index suggests that the present
level of sales activity will continue for at least the next two months.

In summary, we believe the market is showing signs of stabilizing, and we are
encouraged by the number of prospective buyers who are making inquiries and who
are looking at properties.  It remains to be seen if the recent weakness in the
stock market will translate into a new flow of funds into real estate, and the
psychological impact of a reduction in the federal funds rate could also be a
positive stimulus for the real estate market.

Bonner Bridge Replacement Update

I wrote a post back in June about the options for replacing the Bonner Bridge.  According to the Virginian Pilot - the 13 agencies met again and did not agree on which plan to select for a replacement. 

The next step in the process would normally be for the proposals to be presented to a "merger implementation team" but that step will be skipped.  The bridge proposals will go directly to a review board which is scheduled to meet on August 27th.  The review board is made up of members of the Department of Transportation, the Federal Highway Administration, the Army Corp of Engineers and the state Department of Environmental and Natural Resources.  This is a good sign - now instead of getting all 13 agencies to agree on a bridge - it is down to getting 5 agencies agree to a replacement plan. 

Tropics heating up?

I keep a close watch on tropical weather patterns during this time of year.  I always try to guess which disturbance might affect the Outer Banks.  I liken it to those nuts that chase tornadoes in the midwest.  The only differences are that I do it all from my computer at home and I don't have a six foot radar dish that I tow behind my car (the town of Southern Shores won't allow doppler radar dishes to be parked in your yard).  Another difference is that if a strong hurricane looks like it is going to hit - I run away from it instead of running towards it.  We have had a very quiet season to date, but circle number two might be our first serious threat of good waves or bad weather.  Link to the Graphical Tropical Weather Lookout.

Update 8/15/07 2:10 pm

We now have two tropical storms brewing Dean and Erin.  Good news for the Outer Banks is that most forecast models have Dean moving west into the Gulf.  Bad news is that Dean looks to become a dangerous hurricane.  The Greater Antilles and Jamaica are the projected first targets.  The folks over at The Storm Track have some great commentary and graphics - usually a much more interesting read than the National Hurricane Center.

As you can see on the chart to the left (thanks to the folks at The Storm Track) this storm looks like it will get significantly stronger. 

Perseid Meteor Shower this weekend

If you have never seen a meteor shower, you should have a good chance this weekend.  Every year in early August, the Earth travels though the debris of Comet Swift-Tuttle.  The picture on the left is from Jimmy Westlake and shows a Perseid Meteor and the Northern Lights in Colorado.  Pictures usually don't do justice to a meteor shower but that one is pretty awesome. 

The show should be best after midnight on Saturday.  This shower usually produces a meteor every minute.  If the skies clear, find a dark place away from lights, load up on bug spray and enjoy the show. 

August 19th Outer Banks Beach Music Festival Ticket Givaway #2

Last week we offered a pair of tickets to anyone that could guess the identity of the item on the post.  The item was a fish scaler and a fisherman won. 

The concert is August 19th at the Roanoke Island Festival Park.  Five great bands and lots of shagging going on.

This week, we will offer one ticket (sorry folks - I don't have that many to give away) to the person that identifies the mystery picture.

Look at the pretty colors.  This is picture of something that most of us on the beach are familiar with - you just have to guess what it is.  Leave a comment with your guess - make sure you enter your email address in case you win.  You can guess more than once if you like.  Keep it clean (you know who I am talking about).  Check back for clues.

Hint #1 - this is a picture from an electron microscope of something associated with one of the sponsors.

Hint #2 - this item can be consumed.

Hint #3 - You might have one of these to refresh you at the concert.

Congratulations to Matt Myatt of Village Realty for guessing the correct answer.

Ronnie, Make it harder than that.. I'm a huge fan of Miller Light!  Just had to do a little "interent research!" http://micro.magnet.fsu.edu/beershots/beers/lite.html Thanks again, Matt

Matt did the research and now will be going to the beach music festival.  The picture is a closeup of Miller Lite Beer (sponsor - consumed - refreshing).  Your ticket is on the way.

Hurricane Awareness on the Outer Banks

For those of us that live on the Outer Banks, we typically keep an eye on the tropics during the late summer months.  The surfers watch for waves, the windsurfers and kiteboarders watch for wind and waves and the rest of us just look to see what might be coming our way.  One of the services I subscribe to is the National Hurricane Center to keep up with the tropical updates.  They offer RSS feeds so I can do a quick scan to see if anything is brewing. 

The forecast this year was for an active season and we have been very lucky to date.  One of their new services offers an Atlantic Tropical  graphical view of what might be developing in the near future.  On the version online, you can click on the circles and get an explanation on what the experts think will happen with the system.  This is a great feature to be able to track potential targets before they reach tropical depression strength.