Hatteras Island Real Estate:  First quarter market report

When we look back on the first three months of 2016, real estate results are mixed. The number of sales of both residential properties and undeveloped lots are down from the January to March period in 2015. However, the average and median sale prices are higher than last year for the same time period. The total dollar value of residential sales was up a little over 8 percent, while the corresponding result for lot sales was down nearly 19 percent. 
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Sea Gull Motel changes hands after more than 60 years

The Sea Gull Motel – a familiar Hatteras Village motel that has been run by the Oden family for more than 60 years – has reached the end of an era.

The property was sold last week to SAGA Construction of Kill Devil Hills, and while for now there’s little indication that a change has occurred – with the exception of a new Kees Vacations placard that’s subtly tucked under the main Sea Gull Motel sign – the owners, locals, and long-time visitors alike are fully aware that in a small town like Hatteras, the transfer comes with a big dose of sentimentality and nostalgia. 
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Charter switch to all digital will require customer action

Hatteras Island Charter Communication customers have been receiving letters in the past week or so notifying them of the upcoming switch to digital cable on May 17. The change affects Charter customers only, and is an island-wide upgrade to bring the southern Outer Banks up to speed with other markets across the country.

The vast majority of Charter’s markets are already 100 percent digital, and the company is finishing up the complete switch by targeting smaller markets in 2016, which includes the communities of Avon, Frisco, Hatteras, Rodanthe, Salvo and Waves. 
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Hatteras Island Real Estate: Changes in flood insurance costs

Beginning on April 1, a number of changes took place in the National Flood Insurance Program (NFIP). The changes that could have the most direct effect on policyholders are those related to premium increases. 
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Studio 12 opens in a new Avon location

After spending the better part of the past year renovating the old “pink building” on Highway 12 in Avon, owners Carolyn and Gary Schena today opened their business, Studio 12, in a new location in Avon.

You will now find Studio 12 at 41008 Highway 12, situated across from the Avon Pier and in between Surf or Sound Realty and Hatteras Island Boardsports, in a building that is now painted a cheerful green.
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Hatteras Island Real Estate: Bridge Replacement Projects

It is widely believed that the agreement between the North Carolina Department of Transportation (NCDOT) and the Southern Environmental Law Center allowing construction of the new bridge over Oregon Inlet is one of the key reasons for the strength of the island’s real estate market last year. 
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Hatteras Island Real Estate: 2016 State of the Market Report

Back in the 1960s, Bob Dylan wrote a hit song titled, “The Times They Are a Changin.” This could easily describe the current state of the Hatteras Island real estate market with the addition of the words “for the better.”

For perspective, a buyer’s market began on Hatteras Island in June 2005. At the depths of that market, residential selling prices had dropped almost 50 percent, and undeveloped lot prices had plummeted close to 75 percent. When evaluating where the market is today, consider the following trends. 
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