Homeowners insurance rate hearing is rescheduled

 Insurance Commissioner Wayne Goodwin announced this week that the homeowners insurance rate hearing originally scheduled for Aug. 6 has been rescheduled. The hearing is now set for Monday, Oct. 20,  at 9 a.m. in the Jim Long Hearing Room on the third floor of the Dobbs Building, 430 N. Salisbury St., Raleigh.
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Hatteras Island Real Estate: Answers to frequently asked questions

During the summer when the island is most active, 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 recently been inquiring about plans to stabilize Highway 12 at the northern end of the island. 

According to Park Service reports, each year about 2 million people visit the Cape Hatteras National Seashore. Quite a few choose to spend some of their well-deserved vacation time talking with our local Realtors about property in Hatteras Island’s seven villages. While each person’s specific needs and interests are different, a number of surprisingly similar questions arise during these conversations.  
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Restoration Projects: A bang for the oyster buck

Local economies are getting bang for the bucks that fund coastal restoration projects, according to recent federal report.

Coastal restoration projects completed throughout the U.S. in 2011 created more than 470 jobs and contributed $35.6 million in local economic stimulus, according to a Fish and Wildlife Service study.  
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Resort Realty acquires Hatteras Island vacation rental division of Colony Realty

Resort Realty has announced recent merger of the Colony Realty vacation rental management division with its newly launched Hatteras Island Vacation Rentals division. More than 70 Hatteras Island vacation homes, formerly managed by Colony Realty, will now be offered in Resort Realty’s Hatteras Island vacation rental program.  
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Cape Hatteras KOA grand reopening will be May 1-4

After Hurricanes Irene and Sandy battered the North Carolina coastline in 2011 and 2012, the Cape Hatteras KOA was devastated with major damage to the cabins, the main building and swimming pool, the beach boardwalk, and more.
 
Several years and $6.5 million later, KOA is officially cutting the ribbon to open the completely rebuilt campground. Members from the community will join together to celebrate, signifying the area’s rebirth, with grand opening weekend festivities on Thursday through Sunday, May 1-4.  
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Hatteras Island Real Estate: National Flood Insurance Program update

On March 21, President Obama signed into law H.R. 3370 – the Homeowner Flood Insurance Affordability Act.  This law amended several provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) which made major changes to the rate and premium structure of the National Flood Insurance Program (NFIP).

While well-intended, the Biggert-Waters legislation was poorly drafted, resulting in increases in flood insurance premiums that were so large that they could have caused some policyholders to lose their homes.

After the legislation was enacted and after legislators began hearing from their constituents about the potential financial impact of the changes, bills were introduced in both the Senate and in the House of Representatives to delay some flood insurance rate increases. The result of these legislative actions was the passage the Homeowner Flood Insurance Affordability Act.
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Ocracoke Observer is under new ownership

Islanders Connie Leinbach and Peter Vankevich in March purchased the Ocracoke Observer from Linda Rippe and will run this free publication made available throughout Ocracoke Island and connecting points and areas in Hyde and Dare counties.

The new owners, while looking to enhance the Web presence of the paper, believe in the worth of print newspapers and the special niche this monthly has for Ocracoke Island.  
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Bill awaiting President’s signature will help with onerous increases in flood insurance

Legislation that forestalls onerous increases in federal flood insurance has been sent to the President, who is expected to sign it, giving coastal realtors and homeowners much-welcomed relief from fears of financial ruin.

Known as the Homeowner Flood Insurance Affordability Act, the bill limits annual premium increases to no more than 18 percent and restores the grandfather clause that allows older homes to continue to be subsidized.  
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Koru Village purchases Avon Pier property

Koru Village in Avon has purchased the Avon Pier property from EWN Development Co. Inc., which is owned by Ed Nunnally. The property is directly across Highway 12 from Spa Koru and almost adjacent to the Beach Klub, which the Koru Village opened in 2012.

In a news release on the purchase, Koru Village said it was “driven by the mission of offering residents and visitors of Cape Hatteras unique experiences” at its adventure resort. 
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