Insurance Commissioner Mike Causey announced that the North Carolina Rate Bureau (NCRB) filed a rate filing with the North Carolina Department of Insurance on Wednesday asking for an average statewide increase in homeowners’ insurance rates of 42.2%, with Dare and Hyde Counties facing as high as 45.1% for beach areas and 33.9% for other inland [...] Real Estate | Full Article
Outer Banks Real Estate and Business
OBAR seeks to rally opposition to proposed 42.2% homeowner insuran ...
January 17, 2024 | Real Estate
By Outer Banks Voice In a Jan. 13 message posted on its Facebook page, the Outer Banks Association of REALTORS (OBAR) is asking residents to send a message to NC Insurance Commissioner Mike Causey expressing opposition to the NC Rate Bureau’s (NCRB) request to raise homeowner insurance rates by an average of 42.2% statewide. “Hardworking North [...] Real Estate | Full Article
Insurance companies ask for hike on OBX homeowners’ insurance po ...
January 6, 2024 | Real Estate | By: Sam Walker
From SamWalkerOBXNews.com Companies that underwrite homeowners’ insurance policies are seeking another massive rate hike in North Carolina, with coastal areas again taking the brunt of the proposal. “Rising insurance costs are a real concern and will add to the increasing inability of North Carolinians to realize the dream of home ownership,” said Outer Banks [...] Real Estate | Full Article
Well, it’s time to look back on 2023 and see which areas saw price gains and which areas had a bit of a retreat in home prices. Please keep in mind that last year’s stats were from a very low-volume year, and some areas had very few homes that sold compared to 2020-2022. I’m including [...] Real Estate | Full Article
Island Real Estate: Hatteras Island home sales and trends for Dece ...
December 13, 2023 | Real Estate | By: Stephen Smith
Real Estate Market Update – December 2023 As we get closer to the end of the year, we have a pretty good set of statistics to compare 2023 to 2022 and see what home prices are doing on Hatteras Island. Starting in early November, mortgage rates dropped quickly and are now hovering close to 7%. [...] Real Estate | Full Article
After more than two years, sewer moratorium lifted for Kinnakeet S ...
November 29, 2023 | Real Estate | By: Joy Crist | 1
After more than two years, a sewer moratorium on the wastewater treatment plant that serves the Kinnakeet Shores area in Avon has been lifted, per a November 28 announcement issued by the North Carolina Department of Environmental Quality (NCDEQ). In the years leading up to the moratorium, Ray Hollowell, the managing member of Outer Banks/Kinnakeet [...] Real Estate | Full Article
From Outer Banks Voice With many Outer Banks homeowners confronting a significant increase in their insurance premiums this year, the Outer Banks Association of Realtors (OBAR) hosted a meeting on property insurance on Thursday night, Nov. 2 at the Dare County Board of Commissioners meeting room on Roanoke Island to help provide some answers. Soaring [...] Real Estate | Full Article
If you own a property in the Outer Banks, you may have questions about property insurance. You may wonder why you need a separate wind policy, how the rates are determined, and what programs are available to help you reduce your costs. To answer these questions and more, the Outer Banks Association of REALTORS® [...] Real Estate | Full Article
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