All Blog Entries by Resort Realty 
There are currently 46 blog entries published by Resort Realty .
Outer Banks Market: Continually Strong Over Others
Friday, May 11th, 2012 at 2:37pm. 26 Views, 0 Comments.
There’s no such thing as a sure thing, but about as close to that as you can get is the tourist industry on the Outer Banks. Of course, that’s easy to say (or write), but investors looking to purchase homes for the rental market need more than words.
The fact is, though, that Outer Banks tourism revenue has grown every year since the early 1990s with the exception of 2008 to 2009. Using Dare County gross occupancy as a bench mark, the loss in revenue was 1.78% during that period, but in the two years since, revenues have increased more than 7%--and that includes last year when Hurricane Irene struck during the last week in August.
The almost 3.8% increase in occupancy revenues 2011 vs 2010 is truly remarkable. Because of Irene, there…
Real Estate Trends & Outlook
Friday, April 27th, 2012 at 10:30am. 63 Views, 0 Comments.
We’ll call this one “The Numbers Game” or maybe, “Statistics Don’t Lie . . . They just Change Their Story”.
The problem, of course, with that ever-changing statistical story is at some point in time no matter how the story is cast, the reality of the numbers takes hold. And looking for a silver lining in the face of declining real estate values is a tough job, but there really are some glimmers of hope.
Wondering how Outer Banks property values stacked up against other resort areas on the East Coast, I took a look at housing sales over the past five years. Using the information on City-data.com, some pretty interesting numbers emerged.
First the obvious. The average selling price of properties fell and fell…
Outer Banks Economic Forecast
Tuesday, April 10th, 2012 at 8:31am. 98 Views, 0 Comments.
Jim
Kleckley, PhD, is the Director, Bureau of Business Research at East Carolina
University and the President-Elect of the Association for University Business
and Economic Research, so when he discusses the economy there is a certain
amount of expertise associated with it. Sponsored by the Chamber of Commerce,
Dr. Kleckley had been coming to the Outer Banks for the past six or seven years
and putting his two cents in about where the economy is heading-- and for the
most part, he’s been remarkably accurate.
So his latest prediction, coming last Tuesday, comes as a relief.
Growth--sustainable growth--has returned to the Outer Banks. Nothing spectacular, but it would appear that the local economies, powered by the strength of the…
Outer Banks Market Update
Monday, April 2nd, 2012 at 3:55pm. 101 Views, 0 Comments.
A reason for optimism in the Outer Banks real estate market at last! Sales are up. Properties under contract are up. Inventory is coming down.
“The first quarter is now behind us and it was a good one,” Roy Singletary, Resort Realty Sales Manager, says. “There was an 18% increase in number of sales over the first quarter of last year.”
Values continue to be outstanding, and this may be the best time to buy. The market continues to be depressed by bank owned properties and short sales, but that inventory is being sold off. “Bank owned properties made up 22% of all sales and short sales comprised 11% of all sales,” Roy says. “Buyers are drawn to these properties because of their less than normal market values.”
Prices are…
St. Patty's Day Parade OBX
Thursday, March 22nd, 2012 at 4:42pm. 85 Views, 0 Comments.
I think this was the 23rd Kelly’s St. Patrick’s Day Parade. Maybe it was the 22nd, maybe the 24th--somehow none of that really seems to matter when it comes to Mike Kelly’s showcase event. Frankly, sometimes I’m not sure it’s even a parade . . . perhaps more a celebration of the joy and importance of being different.
Oh sure, there’s marching bands, the American Legion, police cars, fire engines and drill teams. But let’s face it, when was the last time you saw any parade where the drill team performed with beach chairs--and they’re good, too . . . even if half of them are men dressed as women and the other half are dressed, well, uniquely.
There’s a reason why people begin lining the parade route a good hour to an…
Top Sales Agent & Sales Team for 2011
Friday, March 9th, 2012 at 10:11am. 129 Views, 0 Comments.
Randy Jones Named Resort Realty’s Top
Sales Agent for 2011
Resort Realty of the Outer Banks is pleased to announce Randy Jones as its “Top Sales Agent” for 2011. Jones was also Resort’s 2010 and 2009 Agent of the Year and a consistent high-ranking top producer in Outer Banks Real Estate. He is a graduate of the University of Wilmington, as well as The Wake Forest University School of Law. Jones practiced law for seven years prior to making the transition into real estate sales and now has over ten years of real estate experience on the Outer Banks. Jones’ office is in Resort’s Duck location and he can be reached at 1-800-545-3908.
Linda and Dick Harper Resort Realty’s 2011 Top Sales Team
Resort Realty of the Outer Banks…
OBHBA Announces 2012 Board of Directors
Thursday, January 12th, 2012 at 3:05pm. 6513 Views, 0 Comments.
Outer Banks Home Builders Association (OBHBA) recently announced their 2012 Board of Directors at the January general membership meeting. Chris Toolan of Resort Realty was among those named to serve the Association and the Outer Banks community this year.
The mission of OBHBA is: "to serve, promote, educate and advocate for members of the local building industry while supporting each other and the local community. With the provision of goods, services and monetary resources, OBHBA members continue to support local food pantries, college scholarships, urgent repair needs of individuals within the community and organized efforts for recovery and relief in the areas hardest hit by last year’s hurricane."
Resort Realty is proud to…
Outer Banks Event Homes
Tuesday, January 10th, 2012 at 12:12pm. 269 Views, 0 Comments.
The
Outer Banks Wedding Expo was this past weekend, so this is probably a good time
to talk about the business side of getting married on the Outer Banks. There
is, of course, romance and love (hopefully) involved in getting married, but
there is certainly money to be made as well.
Although specific numbers are hard to come by, a conservative estimate puts the number of weddings on the Outer Banks (Carova to Ocracoke) at a little over 3000. The amount of money the industry produces is huge. The average wedding costs somewhere around $29,000-30,000, and that figure does not include lodging.
It is in lodging that the greatest opportunity for homeowners lies.
Because the majority of Outer Banks weddings occur in the shoulder seasons…
2012 Real Estate Outlook
Wednesday, January 4th, 2012 at 8:33am. 251 Views, 0 Comments.
It’s
hard not to be optimistic at the beginning of a new year, although with real
estate it’s a little more difficult than feeling good about your favorite
sports team, as an example. The analogy with sports teams seems reasonable though. Their success tends to be somewhat cyclical--some more cyclical than
others--a reasonable guess can be made about their chances for success (or
failure) based on observable facts, but ultimately it is the game itself that
decides how well a team does.
That comparison, however, doesn’t really hold up all that well. No matter how much we care about our favorite teams, no matter if they win or lose, in the big scheme of things, it doesn’t really matter. The value of our property, though, the largest…
Holidays on the Outer Banks
Tuesday, January 3rd, 2012 at 1:44pm. 166 Views, 0 Comments.
Set against the ever-changing sea
and the inevitable march to the heart of winter, holidays on the Outer Banks
become a gift to be cherished. To be here during the holiday season
takes a certain acceptance that nature will have its way but the shelter
against any storm is ultimately the family and traditions that are so much a
part of life on the edge of a continent.
Some of those traditions are a little bit quirky, and certainly unique. Old Christmas, celebrated on January 5 in Rodanthe, is probably one of the few places left that mark the day. Dating from the mid 18th century when 11 days were dropped from the calendar to create the modern Gregorian calendar, the day is welcomed with a stuffed bull (an English tradition) and a lot of…
