The Outer Banks Visitors Bureau released their August statistics. Gross occupancy receipts for the month of August were up 13.7%. That is a extremely positive sign for the health of tourism along the Outer Banks. Another strong sign was that restaurant receipts were up 2.8%. A double digit increase in tourism for a single month is staggering. Also, it was reported that gross occupancy receipts for the year were up 3.9%.

What does this mean for those looking to buy a house on the Outer Banks?

Now is a great time to start looking for a home. An increase in gross occupancy means that more visitors are coming to the Outer Banks. Again, that is a very positive sign for anyone looking to buy an Outer Banks home to use as a rental property. A…

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One of the traditional ways to measure the value of an Outer Banks investment home is capitalization rate. Capitalization rate is simply calculated and can be an invaluable in comparing similar or dissimilar properties. Capitalization rate or "Cap Rate" is found by taking the homes annual net income and dividing it by the cost. For another explanation, here is Wikipedia's definition. WikiPedia: Capitalization rate (or "cap rate") is a measure of the ratio between the net operating income produced by an asset (usually real estate) and its capital cost (the original price paid to buy the asset) or alternatively its current market value.

Using Capitalization rate to compare Outer Banks investment homes

Home #1

Annual gross rent:…

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Often when the stock market is stressed, it is a great time to buy a home. Is now any different? Perhaps the most dominant conversation on the lips of Americans today is the "economic crisis". The crisis specifically refers to the state of the stock market. With the stock market in such a dire way right now, perhaps it is again time to buy Outer Banks real estate.

Some reasons that Outer Banks Real Estate is looking more attractive

  • Interest rates have again crept low under 6%
  • The stock market is no place for your money...look at the proposed bailout
  • Outer Banks investment homes have gone down in price which means your capitalization rate is higher. (It is getting as high as 7 & 8%)
  • The Outer Banks is still under priced for…

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This year marks the 16th year of the Outer Banks Parade of Homes. The yearly event is put on by OBAR and OBHBA, the Outer Banks Association of REALTORS and Outer Banks Home Builder's Association. The event showcases some of the most innovative building designs and furnishings along the Outer Banks. 32 homes are represented in this year's showcase. They will be stretched along the Outer Banks from Corolla to southern Hatteras. Here are some frequently asked questions about the Parade of Homes. This information is from the OBHBA website.

Question: Where do we get tickets? Answer: Tickets are available in every home, where they will also be punched as you arrive. Or you may purchase them at the WalMart as you enter the beach from the north. One…

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