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.


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