Bank Owned Foreclosure home for sale in Duck! Oceanside and great Oceanviews. Bank owned homes are a great deal for the right buyer. Looking for a second home or simple to own rental in OBX? Check out this 4 bedroom bank foreclosure in Duck.

http://www.thedeanagency.com/listings/61090.php

There were major differences in Outer Banks buyer preferences and sales stats from 08 to 09. Take a look at these bullet points to see what market shifts we’ve experienced. These are current April 24, 2009.

• Total number of unit sales is down 27% in 2009 so far
• Oceanfront Single Family Sales are down 32% in 2009
• Single Family Sales are only down 13% in 2009
• Condo Sales are down a staggering 55% in 2009
• The Main Beaches, S Nags Head to Corolla (paved road only) produced 58% of Single Family sales under $500k in 2008 but produced 63% of the same in 2009 so far
• In 2009, single family sales under $500,000 rose 2.5%
• Single Family Sales over $500,000 dropped 44% in 2009

Buyers were reflecting a strong preference for single family homes in the core markets in 2009 and the aversion to higher rates on Jumbo Loans (+417,000). Higher downpayment requirements of 2009 (20%) also influenced buyers to choose less expensive homes. More sales were geared to relocation and second home buyers choosing the less expensive and non-rental markets of the west side locations.

Clearly, the market has shifted to less extravegant purchases, in more mainstream locations and away from condos, co-ops and mobile homes. Our high standard of living and high quality of life continued to draw new residents and retirees to the Outer Banks. The investors with shallow pockets have gone, however, those who love the Outer Banks and its lifestyle are still coming.

Search Outer Banks Foreclosure Real Estate for Sale Here!

Need an Outer Banks foreclosure real estate buying guide? Click Here!

We offer the most complete, free search of bank owned real estate on the Outer Banks NC.

Duty Broker 866 340 1166

Click to Search! No Registration Required! Free, Complete Search of Current Foreclosure Listings - Outer Banks NC.

Receive complete details by email. Receive notifications of new foreclosures by email. The Dean Agency posts every bank owned home for sale along the Outer Banks of NC. Don’t waste time with paid sites - we have the most current listings and accurate information available in a quick, easy to search format with large photo detail. We are here to answer questions but this is a free, no registration Outer Banks Real Estate website. See why over 200,000 visitors explored www.thedeanagency.com in 2008!

866 340 1166  Senior Broker on Duty

Your Choice of a Buyer’s Agent for Foreclosure Sales Needs Consideration and Research!

Free! No Registration!

 Click to Search Here - All Foreclosures Corolla, Duck, Nags Head, Kill Devil Hills, Kitty Hawk, Manteo, Avon, Hatteras, Buxton, Frisco, Salvo, Rodanthe, Waves, Moyock, Southern Shores, Carova and Currituck Mainland!

The Outer Banks has over 750 real estate agents. Very few of us have been trained, tested and experienced in foreclosure sales.  When searching for Outer Banks foreclosures and bank owned property, you will find dozens of “experts” - BEWARE, however, many are self appointed!

Ask questions; true credentials are hard to fake. Your Outer Banks Foreclosure Broker should be able to easily answer all of these questions satisfactorily if they are truely experienced with bank sales.

1. What lenders do you work for?

2. How many sales of REO, bank owned and foreclosure property have you personally completed?

3. What type of training have you received from lenders and their contractors?

4. How much liability, errors and ommissions insurance coverage do you carry to protect your clients?

5. How many properties have you priced for lenders and their contractors?

Shopping around for the right agent is a good practice. Take our advice and ask hard questions before committing to a broker. When purchasing bank owned real estate on the Outer Banks you need more than just a friendly face and enthusiasm. Experience, training and a track record of success are REQUIRED!

We stand by our credentials as leading REO brokers along the Outer Banks. Don’t trust your expensive home or land purchase to a beginner! Your success depends on choosing the right broker.

Looking at the sales figures today, it looks like short sales on the Outer Banks account for about 7.5% of closed sales. Bank owned homes accounted for about 22% of home sales this year. Foreclosed land sales made up over 25% of OBX land sales so far this year.

Currently, 145 homes are listed as short sales in the OBX MLS. Bank owned and foreclosure home listings currently total 55. Today, the Outer Banks MLS lists 2,529 residential home listings that are active. New inventory is entering the market at a rate about 1.7 times faster than inventory is either going under contract or being sold.

In the year 2008, all sales of commercial, land and homes totaled 1,317. We currently have 4,046 active listings of commercial, land and homes for sale on the Outer Banks NC. At last year’s absorption rate, with no new inventory, we currently have a 3 year supply of property for sale. The actual absorption rate is negative due to new inventory out pacing absorption by the rate of 1.7 times. In reality, many sellers will likely leave the market to wait out the current challenges.

The Dean Agency currently represents about a dozen lenders and their contractors to help market REO, bank owned and foreclosed real estate along the Outer Banks. These banks require experience and training in the agencies they choose to work with. We have evaluated over 450 properties to help lenders mark to market their OBX distressed properties. Before you hire an agent in our market who claims to be “a foreclosure expert,” ask several important questions.

• Have you ever been formally trained by lenders to price and sell foreclosures?
• How many foreclosure sales have you completed?
• Do you carry Errors and Omissions Insurance to protect clients during a foreclosure sale?
• How many Broker Price Opinions have you completed?

An gungho, but inexperienced broker will cost you time and money in a foreclosure sale. Conventional sales experience is not enough to serve clients well in REO sales!

Call the Outer Banks Realtors with foreclosure sales experience - trained and trusted by the banks!

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Avoid scams and fraud by dealing locally! Beware any deal involving Western Union, Moneygram, wire transfer, cashier check, money order, shipping, escrow, or any promise of transaction protection/certification/guarantee. More info

Busy Auto Repair Business - Lease TurnKey - Owner Operated - $10,500 (Nags Head)

http://www.thedeanagency.com/listings/58701.php
see photos and full details.
Unique opportunity to lease, purchase or lease with purchase option. Seasonal tourism and loyal locals provide excellent base. Lot’s of heavy truck and 4×4 customers. 4 new lifts, heated 4 bay shop, retail, waiting room and office.

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$7 / 1700ft² - Class A Warehouse/Office for Lease 1700 SF and Up (Powells Point)

Lease, Lease Option Purchase or Buy flex space 45 minutes from Virginia and 10 minutes to the Outer Banks NC. excellent staging facilities for subcontractors, general contractors and distributors. Easy access for big trucks - no backing! Roll up doors, 16′ eaves, ADA restroom, finished reception/ office and kitchenette. Rent for 2 years or more, combine units. ready to Occupy Today!
http://www.thedeanagency.com/listings/59208.php

• Location: Powells Point
• it’s NOT ok to contact this poster with services or other commercial interests

The Dean Agency tracks the best performing investment properties on the Outer Banks. They are listed below for your convenience. These properties have the highest ROI - return on investment - and the best chance to be cashflow positive for investors. We can provide investment analysis, cost to own scenarios and other investment examinations on these properties. Our brokers are skilled and experienced in finding and helping you purchase the best deals on the oceanfront, golf course, waterfront or other residential investment property anywhere on the Outer Banks, NC. Ask for more details on these properties or a free investment analysis by emailing the Broker on Duty. The Best Investments-Outer Banks Real Estate Tips when searching online.