Hatteras Island Real Estate:  Insurance consent to rate letters

Looking at the title of this article, I am sure that most readers are asking, “What is a consent to rate letter?” and “Why should I be interested?” The answers to these questions are interesting, informative, and potentially disturbing.
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Colony Realty is sold to John and Julia Head

Colony Realty Corp. of Avon, owned by Jack and Leslie Painter, has been sold to John and Julia Head of Frisco.

The Heads are currently managing multiple long-term rentals and sell real estate through their company on Highway 12 in Frisco, Resort Professionals, Realtors on the Outer Banks. Colony Realty, which sold its vacation rental division to Resort Realty last May, has the largest portfolio of long-term rental housing on Hatteras and also manages condominium associations.  
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Insurance Commissioner denies companies' request for homeowners' rate increase

Insurance Commissioner Wayne Goodwin has ordered a zero percent statewide overall average change in homeowners' insurance rates, effective June 1, 2015.

There is good news in the commissioner's decision for Outer Banks homeowners.

In the beach areas of Dare, Currituck, and Hyde counties, the insurance companies had asked for a 35 percent increase in homeowners' policies. Goodwin actually gave homeowners in these areas an average decrease of 9 percent. In the mainland areas of Dare, Currituck, Hyde, and Pamlico counties, the companies asked for a 10 percent increase and got an average 12 percent decrease. 
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Hatteras Island Real Estate:  A statistical profile of the island

Real estate columnist Tom Hranicka has developed a statistical profile of Hatteras Island that includes a wealth of information, including population, real estate, businesses, visitation, and tax and tourism expenditures.  ....Read more


Hatteras Island Real Estate: Assessed values vs. selling prices

Whenever Dare County revalues properties for tax purposes, a question always arises concerning how closely the newly assessed values reflect actual selling prices. This article by real estate columnist Tom Hranicka provides provide some insights on this popular dialogue.  
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Hatteras Island Real Estate: Property management

If we took all of the rental cottages on Hatteras Island -- around 2,400 -- from the smallest to the largest and made the assumption that the average rental income was in the range of $1,900 per week for 21 weeks each year, you can easily see that rental homes are a major contributor to the island’s economy. In addition, rental income makes it financially affordable for many families to realize their dreams of owning a home on Hatteras Island.

Somewhere in the course of talking with prospective buyers, real estate brokers are usually   asked about the property management process and how it works. ....Read more



Hatteras Island Real Estate:  The rising sea level debate

Real estate columnist Tom Hranicka writes that the issue of rising sea level is shaping up to be a classic debate between those who worship at the altar of science vs. those with practical day to day business and personal interests and concerns. In this column, he takes a look at where we are now in the debate and how we got here.
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