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| Koru Village named Outer Banks business of the year Koru Village of Avon has been named the Outer Banks Small Business of the Year. The award, co-sponsored by the Wanchese Seafood Industrial Park and College of the Albemarle’s Small Business Center, was presented at the Small Business Week Celebration Luncheon, Wednesday, May 8, at the Duck Woods Country Club in Southern Shores. ....Read more |
| Hatteras Island Real Estate: Conversations with property owners These days, Realtors are receiving quite a few calls from Hatteras Island property owners. The conversations usually center around two questions – “Can you tell me what my property is worth?” and “Should I sell my property?” Here are some insights into the answers to those questions. ....Read more |
| Visitors Bureau sets events for National Travel & Tourism Week The Outer Banks Visitors Bureau is celebrating National Travel and Tourism Week, May 4 -12, with a series of fun and informative events, including the first Outer Banks Tourism Summit. ....Read more |
| Greening up the state's travel industry Cape Hatteras Bed & Breakfast in Buxton is among 53 restaurants, lodges, and parks inducted into the North Carolina Green Travel Initiative, a fledgling program that recognizes travel-based businesses that take an extra step in conservation and preservation efforts. Ten other businesses along the coast have also been recognized, but the Cape Hatteras establishment is the only one on the Outer Banks. ....Read more |
| Bills, petition target increase in homeowners’ insurance rates In the wake of an increase in homeowners’ insurance rates announced last month by state Insurance Commissioner Wayne Goodwin, bills have been introduced in both houses of the General Assembly to bring more clarity and transparency to the rate-making process. Also, Outer Banks residents have collected signatures on a petition protesting the disparity between the rate increase on the coast and inland and asking state officials to do something about it. ....Read more Homeowners’ insurance rate hike agreement will slam coastal counties The North Carolina Department of Insurance announced earlier this week that Commissioner Wayne Goodwin has signed a settlement agreement with homeowners’ insurance companies, allowing an overall statewide average rate increase of 7 percent, varying by territory and form, beginning July 1. The insurance companies, represented by the North Carolina Rate Bureau, had requested an overall statewide average rate increase of 17.7 percent on Oct. 1, 2012. The difference between the requested and settled rates amounts to $237 million in savings to policyholders. However, the rate request will have a much larger impact on coastal counties. ....Read more |
| Ocracoke Real Estate: Are we ever going to catch a break? I have often felt like the Lone Ranger, living in one of the small communities in which our livelihoods, homes, and property are totally at the mercy of the weather. When you are in the middle of it, you think that you are the only one. I’ve had to pull my blinders back to look at the effects of Hurricane Sandy on the entire East Coast, the droughts in the Midwest, and the increase in the tornadoes in the south. However, for us on Ocracoke, the fight has been harder lately. ....Read more |
| Hatteras Island Business Association is reactivated A reactivated Hatteras Island Business Association will meet on Tuesday, April 9, at 6 p.m. at the Hatteras Village Community Building. The Hatteras Island Business Association was initially formed in 1981 and was active for more than a decade. In February 2013 concerned business leaders revived the association because of a gradual tourism decline due to the unstable infrastructure of Highway 12 on Hatteras Island. Individuals and businesses can join the association. ....Read more |
| Hatteras Island Real Estate: Trends worth watching Everyone always seems to ask the question, “How is the real estate market doing?” An even more interesting question might be, “Where is the real estate market headed?” While no one ever knows for sure, some insights into the most probable answers might be found by examining the trends and patterns that are emerging. Here is a look at some of the most relevant trends that we are currently seeing in the Hatteras Island real estate market. ....Read more |
| Wave of flood insurance changes headed our way Rates for flood insurance are going up for many local residential and commercial property owners. This comes on the heels of the 17-percent rate increase allowed by the state insurance commissioner on basic homeowners’ policies in many areas of Dare and Currituck counties. Add to those the 5-percent surcharge on wind and hail coverage for owners participating in the so-called Beach Plan run by the state of North Carolina. John DeBoy of the Outer Banks Homebuilders Association and Willo Kelly, government affairs officer for the homebuilders and the Outer Banks Board of Realtors, believe property owners need to be aware of these potentially expensive changes. Read the story in The Outer Banks Voice. |
| SCORE needs volunteers for its business counseling program The Outer Banks chapter of SCORE needs volunteers – both working and retired business owners and executives – to help in its programs that support local businesses. The group will have a free informational luncheon on Thursday, March 28, to recruit volunteers and explain its counseling program. ....Read more |
| Hatteras Island Real Estate: 2013 State of the Market Report All things considered, 2012 was a pretty good year for the Hatteras Island real estate market, especially in light of the impact that Super-storm Sandy and the two nor’easters that followed had on access to the island. ....Read more |
| Hatteras Recycle: Green business is good business If Todd Phillips’ Rodanthe-based recycling business, Hatteras Recycle, is any indication, the residents of and visitors to Hatteras Island are ramping up their efforts to help improve the health of our environment. This year, more people than ever before have signed up for Hatteras Recycle’s services, and Phillips is making some big changes to his company in order to meet the large increase in demand. ....Read more |
| SBA launches Affordable Care Act web page and blog The U.S. Small Business Administration (SBA) today launched a new web page and blog dedicated to educating small business owners about the Affordable Care Act. The new tools will serve as a gateway for small business owners connecting them with information provided by SBA’s federal partners responsible for implementing the law, including the U.S. Department of Health and Human Services. ....Read more |
| Hatteras Island Real Estate: Important National Flood Insurance Program changes Last July, Congress and the President approved the Biggert-Waters Flood Insurance Reform Act of 2012. This legislation made numerous changes in the National Flood Insurance Program (NFIP). These changes, which take effect on January 1, 2013, have the potential over time to significantly increase the cost of federal flood insurance. The legislation and its implications can be fairly complex, so the operative caveat when you are finished reading this article is that you need to contact your insurance agent to understand how the revisions directly affect your personal insurance situation. ....Read more |
| Hatteras Island Real Estate: Year-end market perspectives As the year draws to a close, it is always interesting to look back and to try to gain some insights into how the real estate market on Hatteras Island has performed. In the past, columnist Tom Hranicka has made the comment that the island’s market is like an automobile that is slowly moving forward but not on all cylinders. He says that from what he can tell, this analogy still holds true. This column looks at some of the major market indicators and the implications for buyers and sellers. ....Read more |
| Hatteras Island Real
Estate: The days of the great deals are numbered At this point in the real estate market cycle on Hatteras Island, it’s a good time to update the trends that we are seeing with regard to foreclosures and short sales. An awareness of the role that distressed properties are playing in the overall market is important for several reasons. First, buyer expectations of the availability of “great deals” need to be adjusted to reflect present market conditions. Second, a noticeable decrease in the level of distressed properties in the current inventory is a signal that market dynamics may slowly be shifting in favor of sellers. Third, the changing balance in the market between distressed and non-distressed properties is a pre-condition for selling prices to start rising once again. ....Read more |
| Hatteras
Island Real Estate: Frequently asked questions Real estate columnist Tom Hranicka has a new version of his popular column on frequently asked questions about Hatteras Island real estate. ....Read more |
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