Interesting look at the state of Outer Banks commercial real estate, and especially Dare County.  As the article points out there is an upside to a currently downturned commercial real estate market.  If you are looking to open or start a business on the Outer Banks, then right now it will cost you considerably less for rent as compared to just a few years ago.  

 

Economic pains on display in Dare's empty storefronts

By Catherine Kozak

 

At numerous storefronts up and down the Outer Banks, "For Lease" signs are taped on windows instead of holiday decorations.

Shoppers are pinching pennies, more diners are eating in, and business owners have been forced to lay off workers, shut down early or close their doors for good. With construction and…

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 Currituck Homes by Town

  • Aydlett
  • Barco
  • Coinjock
  • Grandy
  • Harbinger
  • Jarvisburg
  • Knotts Island
  • Maple
  • Moyock
  • Point Harbor
  • Poplar Branch
  • Powells Point
  • Shawboro
  • Village of Currituck
 

Currituck Golf Course Homes

  • Kilmarlic Homes
  • Carolina Club Homes
  Currituck Businesses for Sale

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One thing you will not currently find from Corolla to Nags Head is an amusement park.  It is amazing that such a long big area is devoid of an amusement park.  There is one location in Nags Head, that currently has some remnants of rides, but nothing that is operational. 

I saw this article about a company in New Jersey, that just opened an amusement park in a small oceanside town in 2009.  Gillians Funland of Sea Isle City reported profits of close to $400,000 for thir first year in Sea Isle City.  In an area that has a summer rental season from Memorial to Labor Day, a company was able to turn a strong profit.  I would think that with a season as long as the Outer Banks, the possibility of opening an amusement park in the Outer Banks would have to be…

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Distress sales are made up of foreclosures and short sales.  For the month of November of the Outer Banks we saw, distress sales make up 27% of the total sales.  17 foreclosed homes were sold in the month of November, along with 10 short sales for a total of 27 transactions. This was down from distress homes being 34% of the total sales in the month of October.

In the market as a whole we saw, 100 residential homes in the Outer Banks sold.  The sold homes data for November was an increase of 5 and 3 units from September and October of this year.  Another strong sign is, we saw an additional 42 homes sold this November, when compared to November a year ago.  Such a large increase bodes well for the strengthening of the Outer Banks real estate market as…

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     I understand selling your home can be a long and difficult process.  The good news is that it is possible to shorten a home’s time on the market.

 

There are many factors that contribute to the time a home is on the market.  Often, it is possible to narrow it down to two main contributing factors.  Those factors are price and exposure. 

 

Price can often only be adjusted so far, while it is possible to greatly increase a home’s exposure to potential buyers.

 

     Today’s market demands that homes are exposed to as many potential buyers as possible.  That’s why it is important to hire the right agent to properly market your home,…

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gravedigger    
Definitely one of the most famous landmarks on the way to the Outer Banks is the home of Gravedigger.  The famous monster truck is joined by The Diggers Dungeon.  Both provide an excellent reason to make a short stop on the way to the beach.     Gravedigger and The Diggers Dungeon are both owned by legendary local Dennis Anderson.  In addition to the legendary home of Gravedigger, Dennis has recently opened, Dennis Anderson's Muddy Motorsports Park.  This outstanding home to mudboggin and racin is just minutes from the beach.  For more information visit their website www.dennisandersonsmotorsportspark.com or www.gravedigger.com

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whalehead_club_400      This Saturday December 5th, 2009 come out and enjoy a Moonlight Ghost Tour of The Whalehead Club in Corolla.  The tour starts at 7 p.m.  The Whalehead Club is located in Currituck Heritage Park at Milepost 11 on Route 12 North.  Admission is $14 per person and $7 per person for those age 8 and under.  Reservations are required.  For reservations call 252 453 9040 ext. 2.     (It is recommended you dress appropiately for the weather and bring a flashlight as part of the tour is on the grounds of the club)

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Buying an Outer Banks Foreclosure

Many people are taking advantages of buying an Outer Banks foreclosure, however, you need to be prepared in order to take advantage of some of these deals.

I have outlined some basic tips to help you in finding a great property.

I would strongly recommend that you are familiar with our area and know the places where you would like to buy a home. Just because a property comes on the market at $100,000 doesn’t mean that you may want to purchase that location. Remember location is key when visiting here and while owning here. It will also play a role in the resale market.

Please have a lender qualify you for the amount you are able to invest in property. Most banks require this to be submitted at time of…

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Below you will find the sold homes in and along the Outer Banks. You will find the location, address, list price, selling price, and days on the market.  If you have any questions about buying a home in the Outer Banks, just let us know.

 

…
Condos
Kitty Hawk b/w Highways   2009  Wrightsville Boulevard $159,000 $153,000 96% 73
  Totals   $159,000 $153,000 96% 73
Kitty Hawk Westside
    2904  Sea Horse Court $167,900 $161,250 96% 66
  Totals   $167,900 $161,250 96% 66
Nags Head Westside
    110  W Gray Eagle Street $299,000 $300,000 100% 217
  Totals   $299,000 $300,000 100% 217
Rodanthe Oceanside

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