I want to start things by talking about land. There’s a quote often attributed to Mark Twain that says: “Buy land, they’re not making it anymore.” And Hatteras Island specifically is a unique place when it comes to Outer Banks real estate. Most of the island is owned or operated by government agencies. Of the […]
Real Estate | Full Article
It’s hot outside, and after the first half of 2023 saw the housing market cool off a bit, it’s heating up again. There are only 74 residential properties for sale on all of Hatteras Island right now, as homeowners wrap up the summer rental season and start considering whether to list their houses for sale […]
Real Estate | Full Article
Hatteras Island is in the news lately, as a Vacasa report listed us as the 2nd best place to buy a beach house in the U.S, which was picked up by various media outlets. From an investment perspective, those stats would be really impressive, but there are a couple of caveats. The median sales price so […]
Real Estate | Full Article
Are you a buyer looking for some good news in this rapidly changing real estate market? The February Outer Banks Association of Realtors (OBAR) statistical report has one very interesting stat for Hatteras Island in 2023. Median sale prices so far YTD are down 17%. This comes with some caveats, however, as it reflects a […]
Real Estate | Full Article
Four out of the Top 5 home price appreciation locations on the Outer Banks were on Hatteras Island! The year-end stats are in, and several locations on Hatteras Island saw significant home price appreciation. You can access the year-end report by specific areas here, (such as Waves oceanside, Waves soundside, etc.), and the December Outer […]
Real Estate | Full Article
Three Keys from the November 2022 OBAR Statistical Report… Last month the Outer Banks hit a new high for median sales price of $600k, and Hatteras Island specifically was $621,250. In the November report, the overall Outer Banks median sales price dropped to $519,654, yet the Hatteras Island figure stands at $618k. So Hatteras Island […]
Real Estate | Full Article
Homebuyers are getting some relief in 2023, thanks to the Federal Housing Finance Agency (FHFA) raising the conforming loan limits substantially. Commonly referred to as “conventional” loans, these are mortgages that are backed by one of two government agencies, (Fannie Mae and Freddie Mac), and this typically allows for a smoother loan process and lower […]
Real Estate | Full Article
Three Key Takeaways from the October 2022 OBAR Statistical Report… The biggest news from the Outer Banks Association of REALTORS® (OBAR) October report is that the Outer Banks set an all-time high for residential median sales price – $600k. Mortgage rates have seen a big drop over the last couple of weeks. The average 30-year […]
Real Estate | Full Article
Another month, another rise in mortgage rates. Currently, on Mortgage News Daily, the surveyed mortgage rate is up to 7.29%. That number was 3.59% in January of this year – it has more than doubled and more Federal Reserve rate hikes are forecast for the rest of this year which will likely result in even higher […]
Real Estate | Full Article
We have seen lots of changes in the market since the Federal Reserve started rapidly raising their funds rate earlier this year. The average 30-year mortgage has seen an increase from 3.41% in early January to 6.3% as of this writing. This has had a huge impact on sales volume, as buyers are more inclined […]
Real Estate | Full Article
