Showing property is the easy part of an Outer Banks real estate agents job; the heavy lifting doesn’t begin until the offer on an Outer Banks home for sale is accepted.  Once we are under contract, the real work begins.  I order every inspection on the property, which typically includes an Obx home inspection, a septic inspection and a pest inspection.  Once the home inspection is completed, I may then need to have other inspections performed, which may include a fireplace inspection, an elevator inspection, an hvac inspection, and a pool/hot tub inspection.  Depending on the results of the home inspection, a licensed Outer Banks builder may be needed to quote repair costs for electrical, plumbing, and roofing.  A new survey must also be ordered.

During the time we are under contract, I am at the property at least a half dozen times, to meet every inspector and to watch as the inspections take place.  I want to be present because more often than not, my Outer Banks buyers cannot be, as they live out of state and their schedules will not permit another trip down. During the inspections, as issues arise, I am on site and can ask questions to gain more clarity about the situation.  Because I’m present, I can ask the inspector’s advice on how best to proceed with the next step if there's an unusual situation.  And I almost always learn something new during each transaction.

Viewing the property multiple times also allows me to notice things about the neighborhood that my buyers and I may not have noticed while showing the home.  As an example, if there are any dogs that bark incessantly, or loose dogs running through the neighborhood, I may run across them.  My frequent trips to the property allow me to see which neighbors are home during the day, and which are not.  All of these things I then report back to my buyers.

It’s pretty rare to find an Obx real estate agent who is willing to go to these lengths for their clients.  Most don’t want to take the time, as it’s not a ‘money-making’ activity.  But as I see it, it’s my job to be my buyer’s eyes and ears.

So when you’re searching for the right Outer Banks real estate agent, be sure to find one who is willing to be present at EVERY inspection.  I am. 

For more information on Outer Banks real estate, call Holleay Parcker, Broker/Owner of Spinnaker Realty LLC today toll-free at 877.207.1617, or visit her website at OuterBanksRealEstateMLS.com.

If you're interested in purchasing a Corolla oceanside home for sale under $360,000, then 762 Lakeshore Court may just be the perfect fit.  Located in the Ocean Sands subdivision of Corolla, NC, this Outer Banks home provides both ocean and golf course views.  Enjoy a cup of coffee while watching the sunrise over the ocean, and the late afternoon is a perfect time to indulge in an adult beverage while watching the sunset over the golf course and sound.  Ocean Sands real estate for sale is a favorite among owners and renters alike, as the beaches here are wide and wonderful, and just a few minutes walk from the property. 

Spacious sun decks provide ample room for you and the family to enjoy the ocean breeze, and when you're ready for a dip, splash into the large 10 x 26 outdoor saltwater fiberglass pool.  Because this pool is in the sun all day, you can enjoy it more weeks out of the year than many others, which are shaded. When you've worked up a hearty appetite, enjoy your meal with the family in the screened porch.

There's plenty of seating available in the living room, complete with a gas fireplace for cold nights and a large flat screen TV to catch up on your favorite shows.  The whole family can eat together in the dining area, and the kitchen boasts granite countertops, amd plenty of cabinets.

The owners have meticulously maintained this Outer Banks home for sale, with too many upgrades to list here; but a partial list includes a new roof, 2 new heat pumps, and granite kitchen counters in 2013, new water heater and dryer in 2012, crows nest addition in 2010, and new carpet in 2011.  Please call Holleay Parcker toll-free today at 877.207.1617 for a complete list of improvements and more information on this Corolla oceanside home for sale located at 762 Lakeshore Court.  You'll be glad you did!       

Why Now is an Excellent Time to Buy Outer Banks Real Estate

Perhaps you’ve heard the saying: “A rising tide lifts all boats.” The opposite of that statement is also true, as we have all seen since 2005 with falling market values. But many buyers and sellers don’t realize that whether the market is rising or falling, the tide isn’t lifting or lowering all boats equally.  And this provides you with an excellent opportunity, if you're considering purchasing Outer Banks real estate.

Near the market peak in late 2005 and early 2006, buyers of Outer Banks investment properties found themselves pushed further and further from the ocean, due to high market values. Many buyers were purchasing homes nearly a quarter mile from the beach, because these were the only homes that were within their budget.  

With the fall in values that our market has experienced during the last 8 years, buyers’ purchasing power has significantly increased. Many are finding that homes that are just a few lots off the ocean are now within their reach.

Property values have fallen most for Outer Banks oceanfront homes. (Think ‘the bigger they are, the harder they fall’) and then semi-oceanfront, two off the ocean, and so on. When the market begins to appreciate once more, the ‘tide’ of rising market values will raise oceanfront homes and those closest to the ocean higher than those that sit many lots away from the beach.

In other words, there hasn’t been a better opportunity for buyers to purchase this close to the ocean in many, many years. By purchasing now, you are poised for your Obx investment property or second home to enjoy the rising tide of price appreciation in the future. 

In the meantime, there is an additional benefit for you to enjoy: higher rental income. Outer Banks homes that sit closest to the ocean not only rent for more money, due to their proximity to the beach; they also rent first.  So, your income stream begins sooner in the year than for those property owners whose homes sit many lots further back. 

And so the conversation today about rising and falling tides is just another way of illustrating that lot location is the single most critical factor in your purchase.

If you are interested in buying Outer Banks real estate, I’m here to help.  Feel free to call me at 252.207.1617 with questions on any listing you see that interests you.

Holleay Parcker, REALTOR® has fourteen years of full-time experience assisting buyers and sellers, and in this challenging market, can assist you in maximizing the return from your purchase or sale.  Believing that education is the pathway to excellence, Holleay has earned the coveted Certified Luxury Home Marketing Specialist designation, is a MILLION DOLLAR GUILD Member, is a member of the Institute of Luxury Home Marketing, and holds the Resort and Recreation Specialist and Accredited Buyer’s Representatives designations, along with the e-PRO certification.  Holleay was recently awarded the 2014 BEST OF TRULIA TOP AGENT AWARD.

© 2015 OuterBanksRealEstateMLS.com

Outer Banks New Construction Homes Offer Many Advantages

If you’re in the market to buy at the beach, then you should consider the many advantages of building an Outer Banks new construction home, because new homes provide a variety of advantages over existing ones.

• Lot values have fallen more than existing home values have. Why? An existing home has the potential to generate income, either by being rented weekly or year round. A lot has no income potential. And this rental income helps to prop up values on existing Outer Banks homes for sale. So it may prove to be less expensive to build new than to buy an existing home.

• New construction means that ALL components are new; thus maintenance costs are minimal for many years. I built my home in 2003 and 12 years later, I’ve replaced two items and made one repair. Those 3 items cost less than $2,000 to replace/repair. (Now, that’s what I call cheap living!) Buying an older home means that many of the major components have some age on them, and will likely need replacement sooner rather than later. Major components (think roof, hvac, windows, and doors) are expensive.

• If you are considering buying a beach house, selling is likely the furthest thing from your mind. But one day, you will want to sell your home. If you buy a 20 year old home today, and sell it 10 years from now, your home will be 30 years old at that point. However, if you build a new construction home now, then it will be just 10 years old a decade from now. Newer homes hold their value better than older homes do because the buyer for your home in the future will be conscious (just as you are now) that older homes will need major components replaced soon, so they will want to discount the price they offer you for that fact.

• Outer Banks new construction homes are built to the highest construction standards. Our codes now match Miami-Dade codes, which means that new homes are able to withstand the elements better than ever before. Thus, new construction homes should need fewer repairs from high wind events than homes that were built prior to the newer, more stringent building codes. If you live one or more states away, (as so many of my clients do) this may give you some comfort during storm season.

• If you intend to weekly rent your home, you should be aware that most renters prefer new homes to older ones. Simply put, new homes rent better, and often for more money, which increases your home’s income potential. ​

• This final advantage is a little hard to quantify, but here goes: Building a new home is a real shot in the arm to the local economy. It’s been said that more than 70 businesses and services benefit from the construction of a single house; in these uncertain times when the economy is trying to gain some traction, the more shots in the arm, the faster the economy will recover. You can be proud knowing that you have done all you can to stimulate the recovery.    

All that being said, there are some challenges to consider before building an Outer Banks new construction home: 

• Interest rates cannot be locked in until the house is nearly complete. That means that interest rates could rise during the six months or so that it takes the builder to complete your home. Mortgage rates are still incredibly low, so if you are considering building a new home, now is an excellent time to begin your project.

• Many folks are a bit squeamish at the idea of trying to build a house from one or more states away, in an area where they know very few locals. That initial squeamishness is not unfounded.  After all, it will prove impossible, or nearly so, for you to come down as often as you would like to check on the progress your builder is making. That’s why it is so critical to find the right Outer Banks builder.    

• Even with the right builder, there is still plenty of work for you to do. You have to make all of the selections for your home, from the roof color to exterior paint colors, interior paint colors, carpeting, wood &/or tile floors, cabinetry, counter tops, as well as electrical and plumbing fixtures. I can assist you in with the selection of a builder who will listen to your needs and provide you with a high quality home..  

As far as squeamishness goes, there is plenty of time in the process before committing to the project for you to do your due diligence – from calling all of the builder’s references, to checking his status with the local Outer Banks Home builders Association, to walking through several homes he has completed. As your confidence in his ability to build a high quality home grows, your trepidation will be replaced with excitement.  

Making all of your selections does take some time and effort. Begin looking at magazines for ideas you like, and for color selections you prefer. Make a visit to your local plumbing and electrical stores, and start thinking about faucets and lighting fixtures. Familiarize yourself with the types of wood flooring that are available. Having an idea of what you want will make the selection process less stressful.

I’ve assisted many clients throughout the process with their Outer Banks new construction home, and I’m happy to assist you too.  Please feel free to call me with any questions you have.  I’m here to help.

For more tips on selling Outer Banks real estate, contact Holleay Parcker toll-free at 877.207.1617 or on her cell at 252.207.1617.

Holleay has fourteen years of full-time experience assisting buyers and sellers, and in this challenging market, can assist you in maximizing the return from your sale.  Believing that education is the pathway to excellence, Holleay has earned the coveted Certified Luxury Home Marketing Specialist, is a Million Dollar Guild member, is a member of the Institute of Luxury Home Marketing, and holds the Resort and Recreation Specialist, Accredited Buyer’s Respresentative, and e-PRO designations.  In addition, Holleay was recently awarded the 2014 BEST OF TRULIA TOP AGENT AWARD.        

© 2015 OuterBanksRealEstateMLS.com

Location, Location, Location.  When most people think about real estate, this is one of the first statements that come to mind.  The fact that it is repeated three times indicates the importance of considering location.  As you will see below, when purchasing Outer Banks real estate, location isn’t just important; location really is everything.  

Purchasing a second home or investment property on the Outer Banks is a significant financial investment; typically, buyers spend more on their beach house than they did on their primary home.  So it’s important to get it right.  Here are some location tips for you to consider when selecting your home or lot. 

If you are purchasing an Outer Banks investment property to maximize cashflow, then you should look at the homes that you’re considering through the eyes of a renter. Why? Doing so will enable you to purchase a home that will rent well, because it’s in a location that renters deem desirable. 

• Renters care about the distance to the beach and how long it will take them to get there.  Outer Banks homes located on corner lots that have a direct beach access at the end of the street are more desirable to renters than homes located eight or nine lots from the corner. 

• Beach accesses that have parking available, and accesses that have a lifeguard on duty during the season, are more desirable to renters than accesses that don’t have these options. ​

• A nice, wide beach to enjoy will trump a beach that needs to be nourished in the eyes of a renter every time.   Be aware of the condition of the beach in the area where you’re considering purchasing.

• If you’re considering Outer Banks oceanfront homes for sale, then you will need to pay particular attention to the condition of the dune.  Wide, high, densely vegetated dunes will provide much protection from storm surge during hurricanes; while small, poorly vegetated dunes will not. I educate my buyers thoroughly on the importance of dune conditions before they purchase an oceanfront home here.

• Renters prefer an ocean or sound view.  After all, most of our vacationers are coming from one or more states away, mostly from inland locations.  If the location of the home that you’re considering provides an ocean or sound view (or both), it will tend to rent better than those homes that have little or no view. 

• Renters want easy access to shopping, fine dining, and the local attractions.  My buyers and I always look for homes that are in close proximity to these amenities.

• Location is also important as it relates to ease of getting around town during the tourist season.  Properties that are located near a traffic light are highly desirable, as during the season, it’s nearly impossible to make a left hand turn against traffic if you’re stuck at an intersection without one.

• Many renters enjoy having lots of neighborhood amenities at their fingertips, including fitness centers, nature trails, community tennis courts and swimming pools.  (These amenities always come at a cost, however, in the form of HOA dues, which will vary from one subdivision to another).  

So, now that you’ve looked at your list of Outer Banks homes for sale through the eyes of a renter, it’s time to switch gears.  Now let’s look through the eyes of an owner. Why is this important? Because simply put, renters have no financial investment in the property, while its location can have a significant financial impact on its owners.

There is a great deal happening with regards to flood insurance at present.  (You may have heard about this by now.)  New flood maps will be released early in 2015, and the new maps should prove beneficial to many property owners.  While an in depth discussion of flood insurance is beyond the scope of this blog post, please contact me with any flood insurance questions you may have.  I have an excellent Outer Banks insurance agent I can refer you to, who will be happy to address your questions.  My toll-free number is 877.207.1617 and my cell is 252.207.1617. 

Suffice it to say that Obx homes that are located in the 'x' flood zone (the ‘x’ flood zone is outside the 100 year flood plain; if you have a mortgage on the property, and it is located inside the ‘x’ flood zone, your lender will NOT require you to carry flood insurance) are becoming very popular with buyers. 

But there is more to this discussion than merely which flood zone the property is located in, because storm water runoff is a real concern for owners of Outer Banks real estate. 

So let’s look at the property that you’re considering with an eye for how the house is actually situated on the lot.

• Ideally, the house should be at the highest point on the lot, and the lot should be graded away from the house on all four sides.  The driveway should either be level with, or lower than the house, and sloped away from the house, not towards it.  This will ensure proper drainage during heavy rainfall.

Now let’s head out to the street, and look in both directions.

• Ideally, the house should be located on a high point in the street, and not at the lowest point, because storm water will always run towards the lowest areas.

• Standing at the street, let’s take a look back at the house.  The house should be higher than the street.  If it is not, storm water will run towards the house.

• For the same reason, the house should either be level with the neighbors on either side and to the rear, or higher than the neighbors.  If it is lower than surrounding homes, then again, runoff water will always find the lowest area.  

Most buyers believe that high wind is our biggest concern here on the Outer Banks…but the truth is that water does far more damage than wind. Our construction codes are stringent, and Outer Banks new construction homes are being built today to very high wind standards. But if the Obx home you’re considering is located on a low lying lot, or if it is situated where water is draining towards the house, rather than away from it, that is something to wary of.

When I show property to my buyer clients, these are the kinds of things I’m looking for regarding the location of the property, and I make my buyers aware of these issues as well. 

It is attention to details such as these that make the difference between buying an Outer Banks home you will be thrilled with for many years, as opposed to merely inheriting another person’s drainage problems. 

Please be sure to check out the What Clients Are Saying section.  I have dozens upon dozens of positive reviews from clients whom I have provided excellent service to.  I promise to provide you with that same level of careful and thorough service as well.

For more tips on buying Outer Banks real estate, call your local expert Holleay Parcker toll-free at 877.207.1617.

Holleay Parcker has fourteen years of full time experience assisting Outer Banks home buyers and sellers, and in this challenging market, can assist you in maximizing the return from your purchase or sale.  Believing that education is the pathway to excellence, Holleay has earned the coveted Certified Luxury Home Marketing Specialist designation, is a Million Dollar Guild member, and holds the Certified Residential Specialist, Accredited Buyer's Representative, Resort and Recreation Specialist designations, along with the e-PRO certification.      

 © OuterBanksRealEstateMLS.com 2015