What's Happening in the Outer Banks

It seems since spring has arrived that Outer Banks real estate has continued to heat up.  Outer Banks home sales in March continued to be strong after a disappointing February.  I speculate that February was a weak month due to weather conditions up and down the East Coast. 

Outer Banks foreclosed homes continue to make up a large portion of all sold homes.  After foreclosures we see distress sales like short sales, being very popular.  Until there are no foreclosed homes available, the market will continue to strongly favor the buyer.

For those interested in buying a home in the Outer Banks, there may not be a better opportunity.  Interest rates currently remain low but signs show them rising.  Since January we have seen many indicators pointing to a strong rental season.  The coupling of strong rents and lowered prices will continue to make the Outer Banks as attractive place to own a vacation or investment home.