OBX Real Estate - Mike Bishal

From Your Outer Banks Connection - "Is an Outer Banks income producing property better than stock market?"

Well, here we are in another Election Cycle. Our right to vote is important as ever, it seems.

It seems no matter who wins, the stock market will be as fickle as ever. The lack of volume and record days of consecutive losses has us wondering what is next. Many experts are admitting that stocks are overvalued and a large adjustment is looming.

Look, I am not about spreading worrisome and upsetting news. However, what I am about is informing and educating during this timing to show you opportunity that is about tangible and is actual property that produces steady and strong income. And, these properties have the added benefits of YOU actually getting true and real enjoyment from as well as tax benefits.*

Buying stock has been a way of…

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Thinking of Moving to the Outer Banks?

Whenever we work with folks that are thinking about relocating or moving to the Outer Banks, we ask them to identify their expectations. Most of the time, folks that move here either have vacationed here before or experienced a coastal lifestyle somewhere else. With that said, they usually know the area's laid back and slow paced.

Looking for Adventure?

The other ingredient usually includes a bit of adventure that an individual, a couple, or family wants to satisfy. By looking into what our area offers, it always comes around that they're a fan of the beach and the naturalness of the Outer Banks. That usually fills the day of the newly relocated. They check out the beaches in the morning, they check...they enjoy a sunrise or go to the beautiful…

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The Benefits of Buying New Construction on the Outer Banks

Getting educated about the inventory here on the OBX is cause to realize it has a lot of diversity. From the simple beach boxes that are among the earliest rental cottages built here to the oceanfront estate level homes…..and to everything in between…..we see homes that are weathered and charming to brand new & in sync with traditional architectural features that are defined by coastal living.   When I show property to folks looking to invest into the resort rental segment, 2nd home market or primary living due to moving here many do not realize how close in price a brand new home is to one that may be 20+ years old.       Also, when they factor in that there is a Spec Home segment of the inventory here they get even more excited. If you didn’t…

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Does Record Tourism in 2015 Make Fall A Good Time to Buy A Beach House on the Outer Banks?

As tourism drives the economy of the Outer Banks, it also plays an important role in driving the local real estate market. For those Outer Banks home owners who rely on rental income, the state of tourism can become even more important. Over the last several years, we saw tourism continue to grow.

A recent report from VisitNC research site shows tourism spending on the Outer Banks broke 1 billion for the second consecutive year. There were some early reports during the year, that tourism looked to be off for the OBX, but as the Outer Banks reports it looks like we could have another record year for tourism:

Last week, new data showed visitation at the state’s natural and cultural sites for Fiscal Year 2015-16 that ended June 30 was up 7.7…

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Things to Think About Before Deciding to Sell Your Home on the Outer Banks

We asked Mike Bishal an Outer Banks real estate consultant for a few thoughts that Outer Banks home owners should consider before thinking about selling their home on the Outer Banks. We caught up with Mike at one of his Open Houses and took a few minutes to get his thougths.  

What Renovations Could Make Sense For An Outer Banks Home Owner?

 
As you'll see I spend some time in the bathroom of the house and, this is on purpose. So when you get ready to sell your house, sometimes it's better...it's a good idea to consider remodeling a room, a key room, perhaps a master bath in this case. I have a client here that redid this bathroom, had it remodeled it, it's beautiful and it's definitely gonna help their marketing effort. 

 
What should…

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Congratulations College of the Albemarle

Great news for anyone looking to move to the Outer Banks, who wants a good local college program. The College of the Albemarle has just been announced as the #1 Community College in North Carolina by Schools.com.

The DailyAdvance reported:

In an article last month, Schools.com ranked COA the best of the state's 58 community colleges, praising it for its affordability, accessibility and other factors. Taking second and third place in Schools.com’s rankings were Craven Community College and Pitt Community College, respectively.

COA's service to its seven-county region is “widely acknowledged,” Schools.com said on its website, noting the college’s campuses in Elizabeth City, Edenton-Chowan and Currituck and Dare counties. The company also…

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Will the Outer Banks Water Park Have an Effect on Real Estate?

    We reported back on Wednesday, April 20th, 2016 that a proposed water park could be coming to Currituck County. It has now been reported by multiple news stations that the water park has been approved and it is slated to open in 2017.  From reports it seems that the water park will handle up to 5,000 visitors a day. It could be quite the positive change for the area, as one of the criticisms the area faces is the lack of things to do for vacationers. The ability to give an additional 5,000 people an outlet for family fun is great.   From initial reports it seems like the park is going to have a very Outer Banks kinda-theme with lighthouses, pirate ships, and more. Wavy-TV writes:   Right now, the plans are to construct…

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Growth of Currituck County Is Good for the OBX

A recent article from thinkcurrituck.com, Opportunities in Currituck County Abound, has some excellent reasoning behind why we could see continued growth along the corridor to the Outer Banks. In their article they list, 3 potential factors but we see two of them as the main driver for the Outer Banks.

1.  Construction of the Mid-Currituck Bridge 

After more than 40 years of discussion and debate, the $440 million project is now on the fast track to get underway. Gov. Pat McCrory’s fiscal year 2017 budget accelerated the project timeline by two years, which now calls for construction to begin in fiscal year 2019, with a completion date by 2025. In addition to making the famed outer banks more accessible to tourism-based businesses, the bridge has…

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Storm Surge Maps on the Outer Banks

The Virginia-Pilot reports that the National Hurricane Center is launching storm surge maps for the Outer Banks.

Hurricane Center to launch new storm surge maps after successful tests on Outer Banks

The National Hurricane Center will launch storm surge inundation maps for the first time this summer, predicting where and how deep flooding will hit here and elsewhere.

Two years ago the maps were tested on the Outer Banks. Data from hundreds of hurricane forecast scenarios was fed into a supercomputer. Hurricanes and tropical storms are measured according to wind speed.

The new maps turn attention to flooding. Storm surge threats could be worsening as the ocean level rises and more people build on the coast, said Jamie Rhome, storm surge…

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Water Park Coming to the Outer Banks?

The Outer Banks Voice is reporting that a proposed waterpark in Currituck may receive approval and become an important destination for Southern Currituck County. From the OBX Voice...

Although there have been rumors of various attractions coming to southern Currituck for decades, this is one that might be completed, said Currituck Planning Director Ben Woody.

The county’s Planning Board has approved the company’s initial plans, and has recommended that the county commissioners give it their OK. Residents will have a chance to speak out on the project during the county commissioners’ meeting in early May.

“This is probably the most tangible project we’ve ever approved,” Woody said. Recent plans for county growth included a solar farm and a ropes course…

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