The past four years have presented a series of dynamic challenges:
We are starting to observe signs of stabilization:
Residential inventory has increased by 62%, and sales prices have begun to adjust downward. Unfortunately, foreclosure rates, virtually absent over the past five years, are now on the rise. We are closely monitoring this trend, and you can find a current list of foreclosures HERE.
Interest rates remain around 7%, subject to variation based on the financial product. Nationally, core inflation rates remain elevated, and Federal Reserve Chair Jerome Powell recently reiterated that interest rates are unlikely to decrease until there is greater confidence in sustained inflation approaching the central bank’s 2% target. Given these factors, higher interest rates may persist in the near future. (USA Today, July 9, 2024)
OBX Market Snapshot as of July 08, 2024
If you currently own property in the OBX, you likely enjoy your home and benefit from a favorable mortgage rate. I take pride in knowing that I may have played a role in helping you achieve that satisfaction, as it is always my primary objective. However, I understand that people's objectives can change over time, whether due to personal circumstances or evolving investment strategies.
I am deeply committed to analyzing data and providing informed advice based on market analytics. From my assessment of the current data, I believe we are in a unique period that continues to offer advantageous conditions for sellers. Should you decide that selling aligns with your investment goals, there is still an opportune window, provided it is approached with the right marketing, pricing strategy, and exposure. Drawing from over 24 years of experience, I am well-equipped to assist you in capitalizing on this pivotal moment in our market's history.
If you are curious about the current value of your property, please visit THIS LINK for access to my Instant Property Valuation tool. This innovative tool, powered by A.I., not only provides immediate property valuations but also tracks property value trends over time across the United States.
Those familiar with my approach can affirm that I do not employ high-pressure tactics nor advocate for panic selling. My guidance is rooted in experience, data analysis, and a steadfast commitment to helping clients make sound investment decisions. This remains my core objective. Should you wish to delve deeper into your circumstances, I welcome the opportunity to discuss them further and am available for a call at your convenience. I look forward to our conversation.
If you are new to the world of Outer Banks Investment Property, we have written a short overview that you may find useful. You can see that HERE
Interested in the value of your home?
Click HERE for our INSTANT VALUATION Module
(this can be used for any property in the US)
“Seas the Day” and seize the opportunity to own this classic 15 bedroom, 10,000 s.f. home! This sleek and stylish investment will make you and your guests happy while on ...
Listing courtesy of Carolina Designs Realty.
From its grand entrance to spacious hallways, this extraordinary and well-kept beachfront home was remodeled from top to bottom in 2011. Exquisite design elements perfect...
Listing courtesy of Twiddy And Co. - Duck.
This magnificent home has a fantastic floor plan for entertaining or a family retreat. It is over 6000 square feet with an abundance of decks. The home has 13 bedrooms an...
Listing courtesy of Charles S Motosko.
OCEAN TO SOUND PERFECTION! Welcome to 116 N Baum Trail, a magnificent oceanfront estate located in the highly sought-after Palmer's Island neighborhood of Duck, NC. With ...
Listing courtesy of Landmark Sotheby's International Realty.
Achieve balance and serenity at Coastal Harmony, a stunning oceanfront estate in Nags Head. Built to incorporate contemporary design with light coastal flair and popular ...
Listing courtesy of Saga Realty And Construction.
The convergence of style, nature and harmony create a beautiful blend that is the heart of Duck at 104 South Baum Trail. One of only 13 distinguished homes, this 5-bedroo...
Listing courtesy of Outer Banks Blue Realty Srvcs..
Welcome to this stunning oceanfront luxury estate in the heart of Nags Head PROVEN ANNUAL RENTAL INCOME OVER $400K. Located in an X Flood zone, so NO FLOOD INSURANCE REQU...
Listing courtesy of Four Seasons Realty.
Virtual tour interior: https://www.vizsourcevr.com/virtual360/194053702710/ Virtual tour exterior: https://www.vizsourcevr.com/virtual360/191166980166/ The Oaks on Hun...
Listing courtesy of Island Crest Obx Realty.
This brand-new semi-oceanfront estate in popular Whalehead Beach is sure to impress. Designed and built by Finch & Company, this fully furnished 12-bedroom home features ...
Listing courtesy of Home Zu.
Welcome to "Belle Rive", an exquisite oceanfront property located in the prestigious Pine Island community in Corolla. "Belle Rive" is one of the highest-elevation oceanf...
Listing courtesy of Surfside Realty.
This investment property brings great returns year after year. The stunningly beautiful oceanfront home boasts 12 bedrooms and 12.5 bathrooms with a grand top-floor livin...
Listing courtesy of Basnight Realty.
RARE OPPORTUNITY FOR 4.7 ACS AT A STOPLIGHT ON THE BYPASS. A vacant commercial site of this size is very very unusual on the Outer Banks. Centrally located across from J...
Listing courtesy of Harrell & Associates.
Spectacular coastal contemporary in the heart of Corolla, where luxury and charm converge in this newly constructed oceanfront masterpiece. With 8 bedrooms, 7 full baths,...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Discover your extraordinary semi-oceanfront investment in Whalehead Club! This stunning, newly built house exemplifies exceptional construction, a creative layout, flawle...
Listing courtesy of Landmark Sotheby's International Realty.
This stunning, custom-built home offers the ultimate coastal lifestyle. Nestled on a private lane off Ocean Boulevard, it enjoys a tranquil setting with breathtaking pano...
Listing courtesy of Southern Shores Realty.
Breathtaking ocean views can be yours with this 7-bedroom, 7.5-bath estate located in Pine Island. This spacious 4700+ square foot oceanfront vacation home features 6 en ...
Listing courtesy of Keller Williams - Outer Banks.
"Truly 'One of a kind', opportunities like this do not come around often. Absolutely one of the most sought-after pieces of property on the entire Outer Banks. Welcome to...
Listing courtesy of Surfside Realty.
Million $ Makeover! Well, almost a million! This stately home is practically new inside and out and it shows! You really won’t recognize it if previously viewed. You m...
Listing courtesy of Outer Banks Realty Group.
Rare OBX opportunity. Prime commercial location in the heart of Kill Devil Hills. Huge corner property with new stop light means easy access and high visibility. The two ...
Listing courtesy of Sun Realty - Kdh.
WOW!! A RARE FIND IN THE HIGHLY COVETED STATION BAY COVE NEIGHBORHOOD IN SANDERLING! OCEANFRONT PERFECTION WITH BREATHTAKING OCEAN TO SOUND VIEWS! SHOWS LIKE BRAND NEW...
Listing courtesy of Landmark Sotheby's International Realty.
Indulge in the serene beauty of nature and sweeping ocean views in this grand oceanfront retreat situated on a 3-acre lot in the coveted 4x4 section of Corolla. With alm...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
A truly one-of-a-kind property awaits built by premiere builder Pete Hunter! This stunning estate sits on over a half acre of pristine oceanfrontage. It is beautifully la...
Listing courtesy of Brindley Beach Vacations & Sales-Duck.
JUST RENOVATED! Featuring new LVP flooring, furniture and lighting on the top level, an updated kitchen, and new polywood exterior furnishings, this dreamy 10 bedroom Na...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Beautiful Oceanfront Estate on a High Site for capitaving Ocean Views. This very well designed Eight ( 8 ) Bedroom Oceanfront Beach Home, with a soothing elegance is exce...
Listing courtesy of Sun Realty - Corolla.
Magnificent Oceanfront Retreat with Exceptional Rental Income Discover the oceanfront home you've been dreaming of! Already boasting over $130,000 in rental income booke...
Listing courtesy of Howard Hanna Outer Banks Realty.
Gorgeous Ocean Front Home with Spectacular Ocean Views located in the much sought after Buck Island gated community! This custom built 6 Bedroom / 5 bath / 2 half bath h...
Listing courtesy of Corolla Beach Realty.
Rare opportunity to own a thriving business and living quarters in Downtown Duck! Centrally located with high traffic! Well-established, turn-key, successful business w...
Listing courtesy of Brindley Beach Vacations-Duck.
LUXURIOUS COASTAL RETREAT WITH UNPARALLELED OCEAN TO SOUND VIEWS Discover the epitome of coastal living in this extraordinary 8-bedroom home, perfectly situated just a f...
Listing courtesy of Basnight Realty.
WOW!! STUNNING BUCK ISLAND OCEANFRONT! PANORAMIC AND BREATHTAKING VIEWS! RENOVATED/UPDATED/BEAUTIFULLY FURNISHED! NEW PRIVATE POOL! Welcome to this magnificent oceanf...
Listing courtesy of Landmark Sotheby's International Realty.
Welcome to this exquisite oceanfront property that embodies luxurious coastal living and boasts impressive rental income and future expansion opportunities. Positioned on...
Listing courtesy of Coast Realty.
Dreaming of a larger-than-life Outer Banks ownership experience with HUGE INCOME POTENTIAL? With OVER $263K IN RENTS IN 2023, this freshly-updated 12BR | 10.5 BA SEMI-OC...
Listing courtesy of Keller Williams - Outer Banks.
MAJOR UPDATES FINISHED IN SEPT 2023! Don't miss this rare opportunity in one of the BEST neighborhoods in Duck! Just upgraded with NEW ROOF, ALL NEW AND EXPANDED DECKING,...
Listing courtesy of Four Seasons Realty.
Gorgeous Panoramic Ocean Views! The original owners built, furnished and have lovingly (well!) maintained this home through the years. This is evident both outside as wel...
Listing courtesy of Atlantic Realty.
Harmony of the elements each combine for a home worthy of your most discerning clientele. SugarPops is the third in a series of premier homes with a unique heritage line ...
Listing courtesy of Outer Banks Blue Realty Srvcs..
WOW Oceanfront Featuring NEW exterior siding, composite decking, railings, beach walkway, dune top gazebo, and roof! The smell of salt air and sound of crashing waves aw...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Ocean to Sound views! This stunning newly constructed home in Duck delivers over $200K in annual rental income and is only 4 houses from the beach and was finished in 202...
Listing courtesy of Four Seasons Realty.
Centrally located in the heart of Kill Devil Hills. “The Remedy” is an 8 Bed 7 Bath oceanfront home offering the perfect blend of relaxation, recreation, and exploration....
Listing courtesy of Outer Banks Blue Realty Srvcs..
Rare South Nags Head opportunity! Owner-operated and meticulously maintained, this multiple-dwelling listing offers a remarkable location, 15 bedrooms across 5 units, oce...
Listing courtesy of Harrell & Associates.
Experience unparalleled coastal living in this stunning 4-year-old custom-built primary residence that's over 4000 sq ft (never rented), situated just four lots from the ...
Listing courtesy of Village Realty Holdings, Llc - Corolla.
Introducing 207 Harbour Bay Drive, a stunning luxury soundfront estate boasting over 6,000 sf of living space and a rare opportunity for ownership in the Harbour Bay comm...
Listing courtesy of Twiddy And Company - Corolla.
Welcome to an extraordinary property located on the serene 4x4 beaches of Corolla! This gorgeous oceanfront home built in 2022 comes FULLY FURNSIHED and boasts an impress...
Listing courtesy of Twiddy And Company - Wash Woods.
Experience the epitome of modern luxury with this exceptional 5-bedroom, 5-bathroom Oceanfront estate situated on the pristine 4x4 beaches of Corolla. Spanning across 3,8...
Listing courtesy of Twiddy And Company - Wash Woods.
The sweetness of Brand New! Construction is well underway on this beautiful and spacious 5,984 sq.ft. Coastal Home Plan now being built on a .35 Acre Lot in the prestigi...
Listing courtesy of Sun Realty - Kitty Hawk / Currituck.
Experience the Perfect Oceanfront Retreat! Generating over $200K in rental income, this rental house is a dream w/ everything a rental house needs! Boasting 6 bedrooms in...
Listing courtesy of Exp Realty, Llc - Coastal.
Welcome to Tanarama II, an exquisite beachfront property nestled in the heart of Kill Devil Hills, on the historic site of the former Tanarama Hotel. This prime location ...
Listing courtesy of Southern Cottage Realty, Inc.
Back on the market, $100k price drop! Welcome to “Sunlight,” your dream coastal retreat in the popular Whalehead Community of Corolla with over $200k on the books for 202...
Listing courtesy of Twiddy And Company - Corolla.
This expansive, 3rd row 6,000+ square foot vacation rental home offers 10 en suite bedrooms each with private bathrooms, two additional half baths, an elevator, an open f...
Listing courtesy of Keller Williams - Outer Banks.
Gorgeous oceanfront retreat situated on an elevated and vegetated parcel at the end of a quiet cul-de-sac in the Ocean Hill community of Corolla,NC. Boasting panoramic vi...
Listing courtesy of Twiddy And Company - Corolla.
Here’s your next high-income investment opportunity in the Outer Banks: an 8-bedroom semi-oceanfront home in the heart of Nags Head. This property has already generated a...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
A RARE find! 7 bedroom, 6.5 bath home located in prestigious community of The Currituck Club. Coastal Living at it’s finest. This home was designed to provide 3 1/2 stori...
Listing courtesy of Beach Realty & Construction - Kh North.
Great opportunity to own this Outer Banks oceanfront home with panoramic ocean views & a great dune line! Located in the desirable Villages of Ocean Hill, where the wild ...
Listing courtesy of Coastal Shores Realty Group.
This gorgeous 4-bedroom, 3.5-bath oceanfront home in Ocean Sands offers breathtaking ocean views and an array of must-have amenities. Located just steps from the beach, w...
Listing courtesy of Keller Williams - Outer Banks.
The consistent rental income confirms this oceanside home is perfectly designed to host our selective vacationers! This well-designed floor plan provides private, comfort...
Listing courtesy of Twiddy And Co. - Duck.
Unique oceanfront property with two separate living areas connected by a breezeway all situated on a 80 foot wide lot with large dunes and tremendous beach front. Appropr...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
DUCK SEMI-OCEANFRONT! This spacious 4,122 square foot 7-bedroom, 7.5-bath semi-oceanfront home offers the ultimate coastal lifestyle with beach access just a few feet fro...
Listing courtesy of Keller Williams - Outer Banks.
This stunning 10-bedroom, 10-bathroom home in Corolla is a coastal gem surrounded by lush trees, offering privacy just steps from the beach. Inside, you'll find quality c...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Absolutely the best oceanfront lot available Kill Devil Hills! This is an exceptional opportunity for anyone looking for prime oceanfront property. It offers the ideal se...
Listing courtesy of Keller Williams - Outer Banks.
This stunning coastal retreat offers serene ocean vistas! Situated amongst a row of exquisite homes, this property stands out with its functional design and proximity to ...
Listing courtesy of Coldwell Banker Seaside Realty - Kdh.
Enjoy coastal living at its finest with unobstructed water views over the Currituck Sound in this well appointed and ultra private Sanderling home. This stunning custom ...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Sportsman’s Dream: 14.47 Acres on the Sound in Kitty Hawk Village Discover a unique opportunity on this historic property! Nestled on 14.47 acres along the sound in Kitty...
Listing courtesy of Beach Realty & Construction - Kh North.
Sportsman’s Dream: 14.47 Acres on the Sound in Kitty Hawk Village Discover a unique opportunity on this historic property! Nestled on 14.47 acres along the sound in Kitty...
Listing courtesy of Beach Realty & Construction - Kh North.
This is a one-of-a-kind show-stopper property! You will not find another one like this on over half an acre with over 1500 square feet of decking. Perched high on the pea...
Listing courtesy of Brindley Beach Vacations & Sales-Duck.
Semi-Oceanfront Cottage in Whalehead, Corolla – 8 Bedrooms, 6 Ensuites, and Ocean Views ***Welcome to your dream coastal retreat! Nestled in the heart of the sought-afte...
Listing courtesy of Keller Williams - Outer Banks.
Welcome to 473 Spindrift Trail, a rare opportunity for ownership in the private gated Spindrift community of Corolla, NC, on a spacious .92 acre parcel 2 lots from the oc...
Listing courtesy of Twiddy And Company - Corolla.
Welcome to "Beaumont sur Mer," an 8-bedroom oceanside estate situated on a desirable semi-oceanfront lot in the sought after Pine Island community of Corolla, NC. Offerin...
Listing courtesy of Twiddy And Company - Corolla.
Updated Sanderling Oceanfront! Ocean Views! Wide sandy beach! Embrace the coastal lifestyle with this stunning oceanfront retreat in the prestigious Sanderling neighbo...
Listing courtesy of Landmark Sotheby's International Realty.
Martins Point on the Point! This beautiful house is situated at the north end of this highly desirable gated community. As you step inside the front foyer and into the ma...
Listing courtesy of Southern Shores Realty.
High and dry oceanfront lot with well vegetated dune. Cleared central area and path.
Listing courtesy of Real Escapes Properties.
Welcome to JJ's Retreat, a stunning vacation home located in the charming coastal town of North Swan Beach, NC, in the heart of the northern Outer Banks. This beautiful g...
Listing courtesy of Surfside Realty.
Centrally located to everything in the OBX, this gorgeous oceanfront property has sweeping panoramic ocean views and has been entirely updated! This home is completely tu...
Listing courtesy of Joe Lamb Realty.
**Your Dream Beach Retreat Awaits!** Welcome to your stunning, updated beach house in the heart of Whalehead, Corolla! This coastal gem boasts **AMAZING VIEWS** and dire...
Listing courtesy of Beach Realty & Construction - Duck.
Welcome to 'Rumor Has It', an expansize 7 bedroom coastal retreat, situated on almost a half acre corner homesite just 3 lots off the Oceanfront in Southern Shores. This...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
THE LITTLE HEXAGON OCEANFRONT HOUSE THAT CAN! This house produced over $150,000 in rents in 2023 and 2024! In 2023 the home rented 50 weeks the owners blocked off two wee...
Listing courtesy of Carolina Designs Realty.
Welcome to your dream retreat! This brand new, stunning beach house offers an unparalleled blend of luxury and tranquility. Nestled in a serene location right across from...
Listing courtesy of Four Seasons Realty.
This one-of-a-kind soundfront estate in the prestigious gated community of the Currituck Club offers unparalled views and gorgeous Outer Banks sunsets. Enjoy relaxing ou...
Listing courtesy of Four Seasons Realty.
Nestled within a serene neighborhood, this timeless oceanfront residence offers an unparalleled coastal living experience. Boasting plenty of room for a small group or fa...
Listing courtesy of Landmark Sotheby's International Realty.
Outstanding opportunity to own a home in the very center of Downtown Duck located directly across the street from the town park and boardwalk! This location is perfect t...
Listing courtesy of Brindley Beach Vacations & Sales-Duck.
This is the one you've been looking for! Stunningly updated inside AND outside, this proven Corolla investment property is situated on a large, nearly half-acre sized lot...
Listing courtesy of Four Seasons Realty.
This exceptional commercial lot presents a golden opportunity for the visionary investors and business owners. Situated in a prime location, this vacant lot offers unpar...
Listing courtesy of Saltwater Realty Obx.
You won't want to miss this recently updated, spacious six-bedroom oceanfront rental investment home in 4x4! New elevator going in this fall! You can relax and enjoy the ...
Listing courtesy of Landmark Sotheby's International Realty.
You'll be "Living large" in Heaven Sent. Starting with the extra large 3/4-lot that provides for a resort-like recreation area featuring large pool and pool deck, volleyb...
Listing courtesy of Coastal Carolina Vacations.
Sit back and relax in this renovated Corolla Light home. Enjoy the views of the ocean and lighthouse from the expansive decks. The lower level features 4 bedrooms 2 bath...
Listing courtesy of Outer Banks Realty Group.
Breathtaking beach home with ocean views! This rare 3-back from the ocean home design offers endless space both inside and out to relax and unwind, play, and take in the ...
Listing courtesy of Century 21 Nachman Realty.
Discover a beautifully updated coastal investment home in the highly desirable Ocean Sands South community, just three lots from the oceanfront and steps away from beach ...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Recent renovations have given new life to this popular semi-oceanfront home in Whalehead Beach. This preferred corner location is only a few steps from the walkway, with...
Listing courtesy of Brindley Beach Vacations & Sales-Corolla.
Beautifully furnished with many new updates for 2024, this, 4200+ square foot custom-built vacation home with ocean views is now available. Just 3 lots off the oceanfront...
Listing courtesy of Keller Williams - Outer Banks.
This private oceanside home is located on a private cul-de-sac location surrounded by beautiful indigenous live oaks and tropical oleander, and located two rows back from...
Listing courtesy of Twiddy And Co. - Duck.
Designed for comfort and versatility, this semi-oceanfront vacation home, located close to beach access, offers surprising rustic charm. With ocean views, over 4,500 squa...
Listing courtesy of Keller Williams - Outer Banks.
Rare opportunity in Duck! This well-established restaurant sits right on Duck Rd and sees tremendous foot traffic. The almost half acre of land is creatively used with a...
Listing courtesy of Century 21 Nachman Realty.
HOW OFTEN DO YOU SEE AN 8 BR Home with OCEAN FRONT type INCREDIBLE VIEWS? Well, you can get that AND with FANTASTIC rental performance NOW! Being this Semi-Ocean Front ho...
Listing courtesy of Great Escapes Vacations & Sales.
SOUNDFRONT, SALTWATER POOL (2021), BOATDOCK with LIFT. Located in the heart of Kill Devil Hills this soundfront home offers BREATHTAKING WATER VIEWS and the luxury of yo...
Listing courtesy of Pirates Cove Realty.
Welcome to your dream oceanfront retreat in the Duck’s highly sought-after Sanderling neighborhood! This charming home offers a serene and private setting with stunning o...
Listing courtesy of Landmark Sotheby's International Realty.
Significant opportunity for Development in Corolla on the Outer Banks. Phase 2 of the Villages at Ocean Hill offers 3.75 acres with potential for 15 Single Family lots al...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Stunning sunset views on the sound in Duck! Experience coastal living at its finest in this remarkable soundfront home boasting 6 bedrooms, 5 1/2 baths, a private pool an...
Listing courtesy of Landmark Sotheby's International Realty.
Spectacular built in 2022 six bedroom home in Ocean Sands Section O; ocean views and expansive lake views from this home. Beach access is less than three minute walk. Th...
Listing courtesy of Obhoa, Llc.
Look no further! This semi-oceanfront property is well-priced and offers a great location (nearby beach access and overlooking two large, unimproved oceanfront lots), bea...
Listing courtesy of Twiddy And Co. - Duck.
If you're looking for the perfect home with spectacular sunrises and sunsets then this 5 bedroom and 5 1/2 bath home is the right choice for you. Located across the stree...
Listing courtesy of Sun Realty - Kdh.
THIS IS THE ONE YOU HAVE BEEN WAITING FOR! STRONG RENTALS! BEAUTIFUL AND UPDATED! BREATHTAKING SOUND VIEWS! STEPS TO THE BEACH! NEWLY RENOVATED BATHROOMS! WELL MAINTAIN...
Listing courtesy of Landmark Sotheby's International Realty.
This Custom Built Home has top of the line everything from the construction to the professional finishes throughout the entire home. Used as a primary residence this home...
Listing courtesy of Carolina Designs Realty.
Experience the best of waterfront living in this stunning 4-bedroom, 3.5-bath single-family home in Nags Head on the Outer Banks. Nestled on the Roanoke Sound with 135’ o...
Listing courtesy of Landmark Sotheby's International Realty.
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Investment Home Primer
For those new to the OBX market, here is a quick overview:
Rental income is largely determined by your distance to the ocean. An oceanfront property will always rent better than one that is 3-4 rows back. They get a higher rental rate and typically rent for more weeks out of the year. A newer oceanfront home can rent for 24 weeks of the year, whereas a house that is 3-4 rows back may only rent for 16-18 weeks. With most investment properties, the strength of the investment is based on the cash flow (money in vs. money out). The way to analyze this is GRY (Gross Rental Yield). This is calculated by dividing the gross income by the purchase price. An example would be: If a home has a gross income of $85,000 and cost $1,000,000 the GRY = 8.5%. A general rule of thumb in our market is if the home produces a GRY of 8% or above, it should cover most all of the expenses, including mortgage.
Expenses can range from utilities, taxes, mortgage, property management, insurance, HOA fees & maintenance. These will vary depending on many things: An oceanfront home will have higher insurance rates. Some homes have very low HOA fees and others are quite high. A newer home will have fewer maintenance issues vs. an older home, etc
HOA fees will largely be determined by the services and amenities provided. Some subdivisions will offer swimming pools & tennis courts but the HOA fee will be higher to pay for these things. Other subdivisions may not offer an expansive list of amenities, thus the HOA fee is low.
Most of the OBX is on private septic systems, however there are subdivisions with sewer systems. Areas with septic will usually be platted on larger lots since the septic area takes up space. If a subdivision is set up on a sewer system, the lots may be very small. That means the houses could be much closer to each other. The HOA would also have to charge a fee for the sewer system usage.
Property management is big business here. There are many rental companies on the beach. The owner chooses who they want to use based on performance, rates, and services provided. The rate can range from 14% to 20% of gross rents depending on the services you want them to provide. You can either have them take care of everything (bookings, pool service, weekly cleanings, linens, landscaping, filter changes, etc) and that rate may be 18-20%. However, if you hire your own pool company and you do the landscaping yourself, that rate would be reduced. In NC, if the home is in a rental program, the new owner has to honor all weeks booked for at least 180 days from closing. That way a new owner can't simply cancel everyone's reservation.
All rental money is prorated to the day of closing. That means if you bought a house and closed on May 1st, you would own all the money from any week booked after May 1st. The seller would keep any money from the weeks occurring prior to May 1st.
This is an amenity driven market. The more amenities a house can offer will make it more attractive to potential renters. Swimming pools, hot tubs, gamerooms, views, theater rooms, etc are what renters desire and these amenities will increase your bottom line. Most of these homes are sold fully furnished, so you get most everything in the home included in the purchase price.
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