Outer Banks Association of REALTORS® Hosts First REALTOR® Fest & Tech Fair

Last month, The Outer Banks Association of REALTORS® (OBAR) hosted their inaugural REALTOR® Fest & Tech Fair at the R/C Movie Theater in Kill Devil Hills, NC. 
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Dare County Land Use Plan Survey Available for Input

The Dare County Planning Department is seeking input from citizens and property owners in unincorporated Dare County regarding the Dare County Land Use Plan.
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Nights in Rodanthe House in the Headlines Again after Being Listed for Sale

The famous house from the 2008 movie “Nights in Rodanthe,” (based on the book of the same name by Nicholas Sparks), is up for sale, and listing agent Frank Jakob of Cape Hatteras Realty & Construction says that it’s already garnering a ton of attention. 
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Rate Bureau Requests Average 18.9 Percent Hike for Dwelling Policies

The North Carolina Department of Insurance received a Dwelling insurance rate filing from the N.C. Rate Bureau on Wednesday, Feb. 7. The N.C. Rate Bureau, which is not part of the Department of Insurance, represents all companies writing property insurance in the state. The Rate Bureau requested a statewide average rate increase of 18.9 percent, varying by territory, with a requested effective date of Oct. 1, 2018. This filing includes a requested increase of 40.5 percent for extended coverage (wind) policies, but a decrease of 20.8 percent for fire polices, making the statewide average request an increase of 18.9 percent. 
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Hatteras Island Real Estate Coastal Barrier Resource Areas

Living on an island located 30 miles from the North Carolina mainland in a place that is subject to severe storms and high tides, it is only natural that flooding is a frequent topic of discussion. And, when the conversation turns to flooding, at some point the subject of flood insurance is almost sure to arise. 
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State Commissioner Rejects Bid for Insurance Rate Increase

A request for rate increases reaching 25 percent along the coast was turned down by the state insurance commissioner and has been scheduled for a July 23 hearing. 
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CHEC Announces Rate Increase in 2018

Cape Hatteras Electric Cooperative recently concluded a cost of service study, which was conducted to ensure that electricity rates are sufficient to recover the cooperative’s power costs and operating expenses for both residential and commercial members.
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Potential Double-Digit Rate Hike on the Horizon for Coastal NC

Homeowners across much of eastern North Carolina are once again facing a possible double-digit rate hike for insurance policies, and the disparity between rates along the coast and interior sections of the state would remain at all-time highs.

The N.C. Rate Bureau, which represents the state’s insurance industry, has asked the Department of Insurance for rate increase effective June 2018 of 25 percent in Dare, Hyde and Currituck counties. 
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Outer Banks Chamber Tackles Housing Crunch

A local branding campaign called “OBX Made” and a community housing effort to remedy the shortage of residential units are two of the initiatives being launched by the Outer Banks Chamber of Commerce as part of an economic development plan to diversify Dare County’s tourism-heavy economy.

During the presentation delivered at the Dec. 4 Dare Commissioners meeting by Chamber President Karen Brown and Chamber Board Chair Bob Peele, they identified the local housing crunch as a major challenge to economic expansion. 
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Local Nonprofits Build Forever Funds through the Community Foundation

The challenge has been met! Seventeen local nonprofits undertook the Outer Banks Community Foundation’s Matching Fund Challenge, issued earlier this year, to raise $2500 each for permanent endowment funds.

And all seventeen groups met or exceeded the challenge, raising needed funds to sustain their organizations in perpetuity. 
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Hatteras Island Real Estate:  Frequently Asked Questions

Each year, I like to publish an updated version of an article that addresses some of the most frequently asked questions that I hear from prospective buyers and sellers. Many of the issues remain unchanged, but occasionally a new question will make its way into the list.  As an example, prospective buyers have been inquiring more frequently about the new bridges at the northern end of the island. 
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NC Rate Bureau Asks for 18.7 Percent Rate Hike for Homeowners Insurance

Insurance Commissioner Mike Causey today announced that the North Carolina Rate Bureau has filed notice with the NC Department of Insurance asking for a statewide average increase in homeowners insurance rates of 18.7 percent for 2018. The NC Rate Bureau represents the homeowners insurance companies in the state in asking for this increase. 
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CHEC Conducting Cost of Service Study

It has been almost ten years since Cape Hatteras Electric Cooperative (CHEC) has had a cost of service study conducted, and rates have been at their current level since 2009. But with system improvements, increases in the cost of purchased power, (which represents approximately 60% of the cooperative’s expenses), and CHEC’s upcoming replacement of a transmission cable on the new Bonner Bridge, it has come time to perform a cost of service study once again. 
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Westlake Ace Hardware Expands in North Carolina

Westlake has acquired Outer Banks Ace Hardware in North Carolina. The six-store chain will retain its name, management, personnel, and product mix. 
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Hatteras Island Real Estate: The Hatteras Island Real Estate Market: 2007 - 2017

When I received a call from the Island Free Press asking me to write an article for the website’s 10th anniversary that summarized the Hatteras Island real estate market over the past decade, I considered the assignment to be an interesting opportunity.  The market has in many ways been challenging to say the least during this period.
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Hatteras Island Real Estate:  The Funniest Questions Asked On Hatteras Island

Each year, service workers on the island come into personal contact with thousands upon thousands of visitors.  In the course of these conversations, reservationists, cashiers, shopkeepers and ferry personnel are asked questions from the mundane to the unbelievable. 
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Hatteras Island Real Estate: The Value Of Pre-Inspections

In a sales transaction between the time that a contract is signed and the closing, the buyer will almost always order a home inspection as a part of their due diligence evaluations of the property they are purchasing. This is an important milestone because the home inspection report usually introduces a second round of negotiations into the sale.
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“New” Farm Market in Buxton has Deep Local Roots

Visitors to the new Diamond Shoals Farm Market in Buxton may have a moment of déjà vu when they first step into the squat, one-story building that’s stationed along N.C. Highway 12.

The store’s shelves are already being lined with local crafts, buoys, and plenty of eye-catching seashells, and folks with a good eye and a great memory will note that these items are all hallmarks of another local Buxton gift shop that recently closed its doors after 25 years – the Old Gray House Gifts and Shells, which was owned by Dewey and Mary Parr.
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New Hatteras Island Shop has a Very Familiar Location

Visitors who make a turn onto Light Plant Rd. in Buxton may do a double take when they pass by an iconic home that’s tucked away across from the Cape Hatteras Electric Cooperation.

This is the site of one of the most famous gift shops in Hatteras Island history – The Old Gray House Gifts and Shells – which was an annual stop on many vacationers’ itinerary for nearly 25 years. Many folks remember going to the store as children, and were starting to bring their own kids to the famed gift shop to peruse the iconic shelves of shells, treasures, and bits of Hatteras Island legacy. 
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Hatteras Island Real Estate: Change On Hatteras Island

While change is always with us, it usually happens in such gradual increments that we don’t often recognize it until after it occurs. I thought it might be interesting to take a brief look at some of the changes that have taken place in the past on the island, and some that are going on right now. 
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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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