Beautiful 8 bedroom 6.5 baths Oceanfront home in Nags Head. Generates over $115,000 in rental income. Game room, gazebo, elevator.

Welcome to South Wind rental unit #25 at 2123 S Va Dare Tr in Nags Head. Beautiful 8 bedroom 6.5 baths Oceanfront home in Nags Head. Generates over $115,000 in rental income. Game room with pool table, private oceanfront gazebo, and even an elevator. 3456 sq ft of luxury living space. 2 refrigerators, 2 dishwashers, 2 microwaves means this house comes fully loaded and totally furnished for a turn key vacation rental machine.

$1,389,000

2014 Year End Summary
Overall – Overall it was a pretty good year. Sales were on par with 2013 and although there was a little lag in sales in the early spring (cold weather) they picked up in May and stayed ahead of the curve for almost the entire year.

Residential Sales – Unit sales, as well as total volume sold, were up by 5% over 2013 with 1602 units sold with a total volume of $565,908,269.

Land Sales – Unit sales, which were hot in the late spring and early summer ended up on par with 2013 (491 units sold in both years) but the good news is that total volume sold was up 19% in 2014 at $60,689,759.

Commercial Sales – Unit sales, as well as total volume sold, were up over 2013. Unit sales were up 24% and Total volume sold was up 9%.

Inventory – Residential inventory finished on the plus side – up 4%, but land and commercial property inventory declined 10% and 15% respectively.

Distressed Residential Sales – It has not been a good year for distressed property sales. Unit sales of properties listed as Short Sales were down 36% and unit sales of properties listed as Bank Owned were down 33%. Total volume sold was also down 43% for Short Sales and 26% for Bank Owned.

Foreclosures – The number of Dare County foreclosures for 2014 declined by 34%. The number of Dare County foreclosures are at their lowest level (187 units in 2014) since the MLS started collecting data 2011. By comparison, in 2012 there were 327 units foreclosed and in 2013 there were 287 units foreclosed.

Data from Outer Banks Assoc. of Realtors

Welcome to Miramar where ocean & sound views are plenty, beach access is across the street, and relaxation is second nature. There’s plenty of space for family/friends/renters with 5 bedrooms (3 full suites, two bunk rooms with a shared bath), an outdoor private pool and hot tub, and a game room with kitchenette for easy outdoor entertaining.This property is located about 3 miles from Jennette’s Pier, restaurants, and even closer to the activities the Outer Banks is known for-fishing, swimming, kite flying, boating and kayaking. Miramar provides all the outdoor amenities your family is after with the added bonus of a well appointed interior space-gas fireplace, view of the ocean from the 1st & 2nd floors, & plenty of private spaces. Beach access is across the street at Camelot (see google map below). 2014 Rentals grossed at $41K. Don’t miss your opportunity to start making money and memories at The Miramar!
Listing Offered by:
Rachel Neal, Broker/Realtor
252.255.2573
rachel@joelambrealty.com

RALEIGH Insurance Commissioner Wayne Goodwin has ordered a zero percent statewide overall average change in homeowners insurance rates, effective June 1, 2015. The ordered rates vary by geographic territory and type of insurance. On average, homeowners insurance rates are to decrease by 0.3 percent, renter’s insurance rates are to increase by 11.2 percent, and condo owner’s insurance rates are to increase by 8.1 percent.

Effective June 1, 2015, rates for the barrier island portions of Currituck, Dare and Hyde Counties will go down 9%, a savings of about $223 for $150,000 of coverage; rates for the mainland areas of Currituck, Dare, Hyde and Pamlico Counties will do down 8.9%, a savings of $189 for $150,000 of coverage. The NC Rate Bureau had requested a 35% increase for barrier island territories and a 10% increase for inland northeastern coastal territories.
Read more here
email.boldprintdesign.com/t/r-l-chusz-iikjuihjkh-d/

Another good month of statistical data showing that we are moving in the right direction.

The Outer Banks Association of Realtors November 2014 – MLS Statistical Report Summary:
“Residential salesResidential sales have held their own this year – 1446 units sold in 2013 and 2014. However, the good news is that the overall volume sold and the average sales price are up 6%. One of the surprising statistics is that condo sales are up 20% and condo total volume sold is up 23%.
Land sales – Lot / Land sales continue to shine in 2014. Total land sales are up 5%; however, the number of residential lot sales is up 11%.
Commercial sales – Commercial sales have done well this year. The total number of units sold is up 7%; however, the total volume sold is up 61%. Most of this increase is due to the sale of one listing.
Inventory – Inventory for the year is up 3%. The biggest jump was in residential property – up 10%.
Distressed salesAlthough distressed properties make up 6% of our active inventory, sales of distressed properties are down significantly Short sales are down by 42% and Bank Owned property sales are down by 32%.
Foreclosures The number of Dare County foreclosures are at their lowest level (181 units in 2014) since the MLS started collecting data 2011. By comparison, in 2012 there were 327 units foreclosed and in 2013 there were 287 units foreclosed”

See the whole report here:
http://outerbanksrealtors.com/wp-content/uploads/nov14totalpropertyreport.pdf

Outer Banks Association of Realtors October MLS Statistical Year to Date Summary:

Residential sales – Overall, residential sales for the year are up slightly (1%) but when looking at the types of properties that are selling, we notice that condominium unit sales are up 19% with total volume sold up 22%. It should also be noted that the median sales price for condominiums are up 16%. Single Family detached home sales are down by 4%; however, total volume sold is up 3%. It should also be noted that average / median sale prices are both up (7% and 2%).
Lots / Land sales – Lots / Land sales are on the rise with the sale of residential lots up 13% for the year and Total Volume sold up 5%.
Inventory – For the year, residential inventory is up 8% and land inventory is up 7%. Commercial inventory is down by 2%. See full PDF Report

This South Nags Head Retreat is a wonderful Vacation choice for those seeking to enjoy the rituals of Summer on the Outer Banks. Built w/many thoughtful details such as large pool area w/fiber optic lighting and heated. Composite Decking w/built in seating around the pool area & ceramic tile BBQ area on the Top Floor Deck. The interior is a delight w/hickory wood cabinets, wainscoting, cathedral ceilings and super wet bar area that make this home a delightful destination. Located Oceanside, this home offers a short walk to the beach, w/direct ocean access, ground level parking. Sun Deck, hot tub and enclosed outdoor shower. Many other features!

This home is Absolutely Beautiful!!! Great views of the Ocean and Sunset Views over the Roanoke Sound await you from this South Nags Head Estate. This very Spacious, Luxuriously decorated home has Many Special Features including a private Pool, Hot Tub and huge rec room with pool table. Located conveniently across from Jennette’s Pier. Open living and kitchen area with a gas fireplace A must see with excellent rental income!

3648 Poseidon-main

Beautiful Never rented H plan in immaculate condition.  Beach access less than a block away.  Large open living and kitchen area with bar.  Two bedrooms on each side with two full baths!

Three parcels being sold for $599,000 each. Each parcel consists of 2 lots, one fronting the bypass and one fronting Lindbergh Avenue. Each parcel touches both Lindbergh Ave and the bypass. See pictures for more detail. Each parcel is 100 x 300 and listed as commercial only.  Listing offered by Tim Moore & Rachel Neal, 252. 261.4444