Dare County Awarded Increase in CRS Ranking

Dare County has received notice from FEMA that Dare County’s ranking will increase to Class 7 from a Class 8 in the National Flood Insurance Program’s (NFIP) Community Rating System (CRS).  This increase in CRS ranking will result in a 15 percent discount in the premium cost of flood insurance for NFIP policies issued or renewed in flood zones for the unincorporated areas of Dare County on or after May 1, 2017. 
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Hatteras Island Real Estate: The case for a real estate market recovery

When we look at real estate market statistics, very seldom do all indicators line up in the same direction. This often leaves us wondering what the actual trend of the market really is. Sometimes it helps to bring clarity to the analysis if we look at longer time frames to see what the data might be telling us. 
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Hatteras Island Real Estate:  2016 Real Estate Market Summary

Year-end results have been finalized for the 2016 real estate market on Hatteras Island. The following table provides detailed information comparing the major market indicators at the end of 2016 with the same data at the end of 2015. 
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Outer Banks clinic in Avon will cease Saturday hours

Outer Banks Family Medicine in Avon has decided to cease providing Saturday hours. The clinic is open from 8:30 a.m. until 4:30 p.m. Monday through Friday and has also been open from 9 until noon on Saturday morning.

"Outer Banks Family Medicine in Avon is committed to providing high quality health care to the residents and visitors of Hatteras Island," according to a press release from Outer Banks Hospital. "The clinic has recently made the decision to reallocate physician time to provide additional appointments during the week, Monday-Friday." 
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Hatteras Island Real Estate:  Winter is a good time to market your home

The Thanksgiving holiday marked the unofficial end to our vacation season. After Thanksgiving, the island moves quickly into its winter mode with only a few fishermen and kiteboarders remaining. This is a time when the locals can stop and chat for a while, catching up on what everyone has been doing for the past six or seven months. 
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Hatteras Island Real Estate:  Perplexing market data

Markets are a lot like the weather. Everyone talks about the trends, but no one seems to be able to do anything about them. The current real estate market seems to be a good example of this saying. 
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Business group calls for Atlantic seismic ban

A group of business leaders representing interests up and down the East Coast, including chambers of commerce, restaurant associations, commercial fishing groups and real estate organizations, are urging President Obama to use a provision of federal law to try and permanently block seismic surveying for oil and natural gas off the Atlantic coast. 
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Hurricane Recovery: Stories behind the effort to get back to business

More than a month after Hurricane Matthew pummeled through the southern portion of Hatteras Island, causing record flooding and massive damage in its wake, the communities of Frisco and Hatteras village are steadily getting back to business – just as they do after every storm. And while every story is different, the motivation to get back to business is clearly a common thread. 
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H2OBX Waterpark set to open next year in Currituck

A $46 million waterpark is now under construction in lower Currituck County and developers are hailing it as one of the most innovatively designed and uniquely located waterparks in the world.
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Hatteras Island Real Estate: Due Diligence in Contracts

The real estate market is constantly changing, and the forms that are used to document the terms and conditions of a real estate transaction change as well.

While most of these modifications are basically administrative, every now and then a substantive revision takes place. If you haven’t bought or sold property recently, then it is important to be aware of contract modifications that can have a meaningful impact for you. One such change is the inclusion of Due Diligence provisions in the contract.
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New flood maps may conflict with state rules

The chairman and one co-vice chairman of the 20-member panel that advises the state Coastal Resources Commission has called for creation of an ad-hoc group to review and try to solve what they view as potential conflicts between state rules and the most recent flood insurance rate maps produced by the state and the Federal Emergency Management Agency. ....Read more

Hatteras Island Real Estate:  Frequently Asked Questions

Each summer, our columnist answers some questions that prospective buyers and sellers frequently ask about Hatteras real estate.  Here is the summer 2016 version. 
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