Search Outer Banks Shorts Sales Here.

Short Sales are beginning to take off from Corolla to Nags Head. Search the link above to see the best deals on Outer Banks Short Slaes. The Dean Agency offers the most complete information and a free, easy search of Short Sales. See short sale listings in Corolla, Carova, Manteo, Nags Head, Duck, Southern Shores, Kill Devil Hills, Colington, Rodanthe, Buxton, Frisco, Hatteras.  

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.

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

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!

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.

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High Return Real Estate Investment Outer Banks NC - Oceanfront - Golf Course

Nags Head - Corolla - Duck -Southern Shores, Kitty Hawk, Kill Devil Hills, Hatteras Island

  

Click Here to Receive our detailed Investor’s Guide to Outer Banks NC real estate investments.

Click Here to search the Best Investments Homes on the Outer Banks  

Outer Banks Real Estate vs. US Stock Markets

• If you had invested in an Outer Banks single-family home from Carova to Ocracoke in 2003, the average investment would have statistically appreciated 6%, AND with less volatility than the stock market.
• If you had invested that same money in the stock market, the average investment would have statistically depreciated 13%.
• From 2003 to 2008, there has been statistically a 20% differential between Outer Banks Real Estate and the stock market which could mean a difference of $100,000 on your $500,000 investment!!!

Search Here for Every Outer Banks Foreclosed Home for Sale

 

How Do Our Brokers Add Value to Your Purchase?

• Market Knowledge-We provide lenders with price evaluations on every type of property from Carova to Cape Hatteras. This is an incredible insight into pricing trends in each sub-market and property type. We have evaluated over 180 properties in 2008.

• Product Knowledge- We preview no less than 5 properties a week but often many more. These are active listings and unlisted properties owned by the banks and private individuals. We know the inventory from personal inspections.

• Process Knowledge- Bank owned properties create very unique challenges for Buyers and untrained agents. We have received many hours of lender training from large institutions such as Wells Fargo. We have received NC Real Estate Commission sponsored training on foreclosure laws and procedures. Our Buyer clients have a distinct advantage in crafting offers, negotiations and inspections.

• Craft Knowledge- Professional, full time real estate brokers never stop learning about their discipline. We read, learn and train constantly about our industry and market. There is no top to this mountain!

Call your Broker today to see what’s new!

Adam 252 256 0086 Anna 252 573 8934

John 252 207 4947

Search ALL OBX Foreclosure Listings Here.