|Koru Village purchases Avon Pier property|
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.
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. ....Read
|Insurance Department orders hearing on homeowners’ rate hike request|
Commissioner Wayne Goodwin has ordered that a hearing be held in the
matter of the insurance companies’ request to raise homeowners’
insurance rates, stating that the proposed rates appear to the
Department of Insurance to be excessive and unfairly discriminatory.
Companies seek another rate hike on homeowners’ insurance
six months after it was granted an increase in homeowners’ insurance
rates, the North Carolina Rate Bureau, which represents the interests
of insurance companies, has asked for another increase.
the new request, the insurance companies want homeowners rate increases
of 25 percent statewide. Some areas would see reductions of 2.7
percent, according to the North Carolina Department of Insurance, but
some property owners on the coast would see increases of 35 percent.
|Hatteras Island Real Estate: Questions owners are asking|
estate columnist Tom Hranicka catalogues some of the questions owners
and potential buyers are asking about the market on the island and the
challenges it faces. He thinks the chief factor keeping real
estate sales flat are questions of access to the island and its
|Changes in building code could add to higher flood insurance concerns|
another potential headache looming for North Carolina residents who
live in flood zones, and it has nothing to do with the recent changes
in the federal law that are spiking rates in flood insurance.
recent changes made in state building codes could affect discounts
awarded to participants in the National Flood Insurance Program’s
Community Rating System, translating to higher flood insurance policy
rates for homeowners. ....Read
|Hatteras Realty is sold to worldwide company, Wyndham Vacation Rentals|
Realty, one of the island’s largest real estate and property management
businesses has been sold to Wyndham Vacation Rentals, the world’s
largest professionally managed vacation rentals business.
The sale was completed on Jan. 1. ....Read
|Hatteras Island Real Estate: Perspectives on national flood insurance changes|
critics are saying that as a result of the Biggert-Waters Flood
Insurance Reform Act of 2012, flood insurance premium increases will be
so great that some people will not be able to afford to stay in their
homes. Others are saying that the changes may not be all that bad, and
still others admit that they just don’t know what the fallout from the
legislation will really be like.
fact, all of these opinions are almost certainly true depending upon
individual case circumstances, but the most accurate statement at this
point in time is that no one knows or can know what the ultimate future
impact of the National Flood Insurance Program (NFIP) changes will be
on an individual policy holder. ....Read
|Jones co-sponsors bill to delay flood insurance rate increases|
Congressman Walter B. Jones, R-N.C., attended a press conference in
support of the Homeowner Flood Insurance Affordability Act, legislation
he is co-sponsoring to delay implementation of large flood insurance
rate increases in Eastern North Carolina. ....Read
Flood insurance rates will spike for some, but not all, property owners
increases in flood insurance policy rates are looming for a small
percentage of property owners, especially those who own older houses
below base flood level or second homes in flood zones.
But most people won’t be facing the astronomical spikes in their insurance bills that some fear.
percent of the properties are going to be just fine,” said Fletcher
Willey, owner of The Willey Agency in Nags Head. ....Read
|Griggs Lumber takes over Dare Building Supply|
Building Supply Co. closed its doors earlier this year after almost 50
years in the Hatteras community, a loss mourned by builders, repair
people, and do-it-yourself folks.
However, on Sept. 23, the building supplier reopened as Griggs Lumber, and the new owners are hoping for a seamless transition.
you visit the new lumberyard, you’ll see many of the folks from Dare
Building that you have known over the years, and that’s the way Griggs
likes it. ....Read
|Mary Helen Goodloe-Murphy chosen as Outer Banks Citizen of the Year|
Outer Banks Chamber of Commerce and PNC Bank have announced that Mary
Helen Goodloe-Murphy of Rodanthe has been chosen as the 2013 Outer
Banks Citizen of the Year. The award will be presented at the
Chamber’s Annual Meeting and Awards Dinner at 6 p.m., Tuesday, Oct. 8,
2013 at the Ramada Plaza in Kill Devil Hills. ....Read
|Hatteras Island Real Estate: What is a property worth?|
some point in a real estate transaction, it seems like everyone wants
to know the value of a property. Owners want to be sure that they
are receiving full value for the properties that they are
selling. Buyers are concerned that they are paying fair prices
for the properties they are purchasing, and lenders want some assurance
that the loans they are making are backed by realistic property
values. The central question for each of these stakeholders is
the same – “What is the value of this property?” The answer can
be both simple and complex. To quote the attorneys’ familiar
refrain, “It all depends!” ....Read
|Ocracoke Real Estate: A struggle to sustain the fishing village atmosphere|
have spoken about the resources with which our community has to work.
Some are not tangible but have a powerful effect on the quality of life
on the island. Others are obvious.
see our natural setting, protected by The National Park Service, as a
valuable asset. We can rest assured that our beach will generally look
the same through the decades. How we get to use the beach may change,
but development will not alter the face of such a perfect environmental
people and a laid-back attitude round out a picture that produces a
passion in our visitors, leading them to come back year after year and
causing tears as they depart on the ferry.
the planning board meeting in July, it was apparent that we are placing
this passion in jeopardy. What I am hearing from my own customers in
The Slushy Stand, as well as from neighboring store owners, is that the
village is losing this appeal, the historic and quaint feel of a
fishing village. The guests have gone so far as to beg for something to
be done about the changing face of Ocracoke. ....Read