Living on Euler's Line

What not to do with a bullet proof vest

Seems Eastern North Carolina might have an entry for this year's Darwin Awards.  Here is a synopsis of the event.

• Guys get off work and buy beer
• One guy owns a bullet proof vest and decides to pull it out after a few
• Guy dons vest and asks beer swilling buddies to "stab him"
• Friend tries to stab dude in vest and the knife bounces off
• Guy wearing vest decides to try to stab himself to prove how tough the vest/he is
• Guy dies 20 minutes later at hospital

You can read the dry details from the Daily Reflector article. 

What the Outer Banks really needs

This article has nothing to to with current issues such as Beach Nourishment (which we need), a Mid Currituck Bridge (which we need), Beach Closures on Hatteras Island (which we don't need).  I wanted to address the economic viability of our community during the soft years.

The Outer Banks is a small community.  Fluctuating anywhere between 30,000 and 35,000 permanent residents.  Our market is all about the housing and servicing of people.  Part of that service is selling properties.  Look in your home town - does anyone have numbers close to this. 

• 1 out of 30 people that live on the Outer Banks are Realtors
• 1 out of 100 are tied to the sale of property (mortgage lenders, attorneys and support staff for those industries)
• I would guess that 2 out of 30 people are tied to the rental industry (maybe even more).  Reservations, maintenance, Housecleaning, IT, Admin etc.
• Then add the other services that solely cater to the vacationers - Restaurants that are only open during the season, Beach Rental Companies, Charter Fishing, Cooks that shop and cook your meal, putt putt golf courses - the list goes on and on.

So out of the 35,000 folks that live here - I would be willing to guess that it would add up to 25% to 40% of the total workforce caters to folks from out of town.  That is what many would call having too many eggs in one basket. 

What are the solutions?  It is a tough question and even a tougher answer.  Most solutions cost money - and many Counties and Cities don't have a lot of cash laying around to spend.  Many are operating very lean as it is. 

If I were King (King Roach doesn't sound so good), I would focus on our strengths first.  We are in the people business and we are great at what we do.  Build some infrastructure to bring bodies down in the shoulder and off season. 

• A nice convention center would be a start and cater to businesses that want an alternative place to host their meetings.  Many major cities have these but we have something they don't - that beach.  You ask any company in Virginia - would you like to host our meeting, our users group or sales meeting on the Outer Banks?  I bet the overwhelming answer would be yes.
• Build the competitive pools that Dare County is considering.  We have about 1,500 swimmers in Tidewater Virginia.  Those swimmers (and especially their parents) would love to spend a long weekend between October through March.  700 families coming once or twice a month would not hurt anyone's feelings.   
• Host weekend sports tournaments - Parks and Rec have great facilities.  Friends we know that come down can not get over the quality of our fields. 

I am sure there are many other alternatives and I would love to hear your ideas.  Comment away.

ORV access hearing today on Capitol Hill

The Energy and Natural Resources Committee of the US Senate will hear from two sides about the ORV beach closures on the Outer Banks.  Listed below are the details from the committee website:

National Parks Subcommittee Hearing: to receive testimony on pending legislation (SD-366)
Wednesday, July 30, 2008
02:30 PM

The purpose of the hearing is to receive testimony on the following bills: S. 1816, to authorize the Secretary of the Interior to establish a commemorative trail in connection with the Women's Rights National Historical Park to link properties that are historically and thematically associated with the struggle for women's suffrage, and for other purposes; S. 2093, to amend the Wild and Scenic Rivers Act to designate a segment of the Missisquoi and Trout Rivers in the State of Vermont for study for potential addition to the National Wild and Scenic Rivers System; S. 2535, to revise the boundary of the Martin Van Buren National Historic Site, and for other purposes; S. 2561, to require the Secretary of the Interior to conduct a theme study to identify sites and resources to commemorate and interpret the Cold War; S. 3011, to amend the Palo Alto Battlefield National Historic Site Act of 1991 to expand the boundaries of the historic site, and for other purposes; S. 3113, to reinstate the Interim Management Strategy governing off-road vehicle use in the Cape Hatteras National Seashore, North Carolina, pending the issuance of a final rule for off-road vehicle use by the National Park Service; S. 3148, to modify the boundary of the Oregon Caves National Monument, and for other purposes; S. 3158, to extend the authority for the Cape Cod National Seashore Advisory Commission; S. 3226, to rename the Abraham Lincoln Birthplace National Historic Site in the State of Kentucky as the Abraham Lincoln Birthplace National Historical Park; S. 3247, to provide for the designation of the River Raisin National Battlefield Park in the State of Michigan; and H.R. 5137, to ensure that hunting remains a purpose of the New River Gorge National River.

Witnesses

Panel 1
The Honorable Carl Levin , US Senate
The Honorable Hillary Clinton , US Senator
The Honorable Elizabeth Dole , US Senator
The Honorable John Dingell , US House of Representatives

Panel 2
Daniel Wenk , Deputy Director for operations, National Park Service, Department of the Interior
Joel Holtrop , Deputy Chief, National Forest Service

Panel 3
The Honorable Warren Judge , Chairman, Dare County Board of Commissioners
Derb Carter , Director, Carolinas Office, Southern Environmental Law Center
Coline Jenkins , President, Elizabeth Cady Stanton Trust
William Braunlich , President, Monroe County Historical Society

For those that don't have the senate channel, you can watch streaming video from the following site.  Just select live webcast from the left menu bar. 

Foreclosures on the Outer Banks vs. Weekly Rentals

I received a question from Bill today about what happens with foreclosures in the rental programs on the Outer Banks. 

Why do the OBX beach houses go to foreclosure if they are in rental programs? Seems like the rental incomes would produce the income for mortgage payments.

Good question Bill.  Most rental properties on the Outer Banks are rented weekly during the hot season.   Most companies require a 50% deposit at booking and the balance is due 30 days before your vacation starts.  The owner receives a portion of the deposit which could be a year in advance of the rental. 

The rental companies try to communicate regularly with their owners.  If an owner is having trouble paying the mortgage, they might not be willing to share that information with the rental company.  The rental agency is promoting the property while the owner is hoping to win the lottery to get them out of a jam.  Once the bank forecloses on the property - all bets are off.  There are times when the rental companies are the last to know.  This can create a real challenge for everyone - the owner is losing their home, the renter has a deposit on a home that can't be rented and the rental company is dealt with trying to find a suitable substitution home at the last minute. 

Many of the rental companies are subscribing to a service that lets them know about homes about to enter the foreclosure process.  It at least gives the rental agency 30 days notice - which is not much for those who's deposit checks were cashed six months ago. 

As for the banks (the ones that are buying the majority of properties back at the courthouse steps), they could care less about renting a property.  They want to cut their loss and sell the property ASAP.  In most cases, they are already in the hole and my momma always said - when you are in a hole - stop digging. 

Traffic on the Outer Banks

I wrote a post last July about weekend traffic on the Outer Banks.  I captured two photos from the base of the Wright Memorial Bridge (Currituck County facing Kitty Hawk and Southern Shores).  Image below shows checkout traffic and the right shows check in traffic.

   

Now my two readers might think I am just trying to revive an old post to keep fresh content on the site but both of you are wrong.  I continue to get comments and emails from travelers trying to miss the traffic.  So I thought I would answer the latest email question for others looking to avoid the long lines.  Names have been changed to protect the persecuted - we will call him Jim.

From Jim:  I found your great post on Outer Banks traffic and wondered if I could ask you a question.  We will be coming through Norfolk, via 168/158 this Saturday (tomorrow).  Do you have a sense of the times we should absolutely avoid?  In other words, be at X place by X o'clock or forget it.
      
Believe it or not, my wife has been coming for 38 years (I'm a newbie at 10), but we always traveled during the night and arrived on the southern shores by 7 or 8 am; thus, traffic was no problem.  With babies in the car, the Mrs. would prefer to avoid the overnight drive.
      
Thanks for considering my question, and if you ever need directions in the Philadelphia region, well, please call on me!  Jim.

Now Jim doesn't know me and I am sure he is unaware that flattery will get him everywhere.  Great Post?  I can see a kiss up from a mile away.  So I thought would give him what he wanted.

From Me:  Tell your wife and babies who really is in charge.

Had to get that out of my system - it has been a long day in the office.  A poor attempt at humor.
      
I would suggest hitting the NC line no later than 10:00 if at all possible.  I know that means an early morning departure but hopefully the babies and your wife will get some rest.  Traffic will be heavy going against you but you should be ok getting across the bridge (about 1 hour from NC border).  After 11, traffic really starts backing up and by 3pm - you and your family would be miserable.  If you can't come early, try arriving after 7.  Most of the headaches are over by then.
      
Hope you and your family enjoy your stay and if I can be of any assistance, please don't hesitate to contact me.
Ronnie

Now Jim was kind enough to not take offense.  My first thought was to ask Jim who wears the pants in his family - but after two seconds I decided that would not be in my best interest.  Jim might be a really big guy with a nasty temper - I don't need any more of those. 

Bottom line, if you can plan on being at the NC/VA border by 10:00, you can be on the beach by 11:15 and enjoy a nice meal or the beach before check in.  Arrive at the border by 9 and the family will be happier.  The restaurants are not that crowded because everyone else is trying to get here or get out of here.  All bets are off for the Fourth of July - traffic starts early that weekend. 

For those leaving the beach - leave early and miss the traffic (8:00 am) or just hang out and enjoy another half day.  The ride home should be better for all.

The Outer Banks is a wonderful place.  How many other places do families go on vacation to the same place for 38 years?  Thanks Jim and family - enjoy your stay.

Change is in the air - Stormy Weather in the forecast

As I type - Tropical Storm Cristobal is bearing down on the Outer Banks.  Current conditions - sunny with a slight breeze.  The Weather Channel has reporters on Hatteras Island waiting for the big opportunity, but you know if Jim Cantore is not here - it is not serious. 

One year ago I was working for American Home Mortgage.  Everyone in the mortgage industry knew a storm was on the horizon, but many had no clue to the size and devastation it would bring.  The company was the 10th largest lender in the country and growing.  American Home Mortgage had a very large line of credit.  They borrowed a dollar from the credit line - sold and funded mortgages for individuals which cost them an additional 2 cents and sold the package for $1.08 to companies like Bear Sterns.  I was about to go to lunch with my wife on a Monday in August of 2007 and got a call from my manager - a mandatory conference call at noon.  Guess what boys - the company was in trouble and would stop funding loans that day.  There were hopes of merging with Countrywide and Indymac but it didn't work out.  A week and 20 conference calls later- Chapter 11. 

I spoke to 15 different lenders about joining their team.  As of last count - 8 of those are no longer in business.  What a change a year makes.  Bear Stearns, Countrywide and now Indymac have all experienced some significant changes themselves.  I decided to join Wells Fargo - they were the most stable of all and had a great presence on the Outer Banks. 

I made the decision to exit stage left from the mortgage industry a few weeks ago.  I went back into the software world.  I was fortunate - I had a background in an industry that allows and embraces remote workers.

A Realtor asked about my plans for my blog.  I hadn't thought about that.  My initial goal is to catch up with the frequency and quality of blog posts as Mayor Bob and Monty and the other Local Bloggers I follow.  Lofty goals are not a bad thing.