OBX Realtor | November 2022

HAPPY THANKSGIVING!

We feel so grateful to be in a profession we absolutely love. It is a journey of meeting some of the most wonderful and interesting people that bring just as much to us as we hope we do for them. We are humbled by our clients' trust in us and ongoing support well beyond the sale. Nothing makes us happier than when one of our clients reaches out just to check in or wants us to stop by to see their new remodel (which we love doing) or wants to refer a friend or family member to us. Thanks so much!

Our best wishes for a festive Thanksgiving to all of you. Our day will include a big feast, beach walk, football & family (and maybe a Christmas movie too 😊)

NOW, FOR THE BIG QUESTION TO OUR HOMEBUYERS: ACT NOW OR WAIT IT OUT?

The housing market is always changing. What if home prices or interest rates rise? What if lower costs are just around the corner? No crystal ball can give us those answers but here are some things to think about.

The State of the Market – is a housing market crash or recession likely? Being in a resort area we are in a bubble and have a unique market that may zig when others zag. Reach out to us and we will evaluate any risks or benefits there might be in buying now.

Supply & Demand Trends – If supply is up and demand is down, you might be able to get a great deal. We can talk about the market trends to come up with a strategy for you.

Home Prices – Consider that prices declines can help you get a deal upfront, but they could also mean your home may not gain as much value immediately; this might be more of an issue if you are not planning to stay there for the long haul. Small price fluctuations in either direction are usually not indicative of larger trends.

Mortgage Interest Rates – If rates are expected to keep rising, acting sooner could save you money in the long run, especially if home prices also rise. REMEMBER: You can always refinance for a lower rate in the future. We have a mortgage broker right next door to us and are always informed on "their educated predications on what to expect next".

Personal Finances: Your financial situation is the most important factor. Does it make sense to buy a home now? Consider your credit score, debts, income and other expenses when evaluating whether or not buying a home is affordable.

👉 Please Note: If you will be renting your home out, we are ALWAYS happy to provide a proforma on the house which will include all expenses & income so you can see your yearly output. This can be a big tool in your decision making! Would you like a sample of one of our proformas? It's an email / call away. Kathleen: kargiroff@gmail.com / 252-202-8147, Alex: aargiroff@gmail.com / 252-202-8148

MLS STATS - Check out what's going on in your Town

View Monthly Report

WE ARE IN HOLIDAY SPIRIT....

The Outer Banks has recently become a Four Seasons destination and my favorite time of year is right now. I love the months of October, November, December on the OBX. The roads are not as congested, we have lots of holiday cheer and some great shopping and discounts due to being off season. We also have a lot of talented artists that bring their "A" game to the Holiday markets. Our charming towns go all out with their Christmas Decorations from Corolla to Hatteras (don't forget to stop in the quaint town of Manteo as well).

🔹 Blue Point, Duck Holiday Market

November 25th 12 – 4 (featuring local artists, holiday cocktails, Blue Point Chili and peel and eat shrimp.

🔹 First Flight Holiday Markets, Aviation Park

December 6th 4 to 8 / 17th 10 to 2 / 20th 2 to 6

🔹 Dowdy Park, Nags Head Holiday Farmer's Markets

Nov 26th 9 to 12 / Dec 1st 4 to 7 / Dec 10th 9 to 2

🔹 Trio Holiday Market

December 3rd – 3 to 5 – enjoy sips & snacks while shopping with local vendors.

🔹 Barefoot Bernie's Mistletoe Market

Every Thurs & Friday Nov 10th through Dec 15, 5pm to 8pm

🔹 Outer Banks Jingle Jog

December 10th 8am to 10pm

🔹 Corolla Christmas Village

November 25th to December 24th – enjoy a self-guided tour through Historic Corolla Village as you can enjoy live music, story time with Santa, and the sites & sounds of Corolla bathed in Christmas lights and a holiday glow.

🔹 Whalehead's Candlelight Christmas Tours – Fridays & Saturday, November 25 to December 17th – Whalehead Mansion will host a candlelight Christmas tour with the embodiment of Corolla style and entertainment. The mansion will be decorated similar to what one would have experienced had they celebrated Christmas with Mr. & Mrs Collins Knight, when they built the home. Reservations are required, $20 per person.

🔹 Christmas Craft Village at the Historic Corolla Park – Friday, November 25th 11 to 4

🔹 Winter Lights at the Elizabethan Gardens – Nov 25, 26, 27, 29, 30; Dec 1-4, 6-11, 13-18, 20-23, 27-30th, 6:00pm to 9:00pm. The annual Christmas Lights are the biggest light display on the OBX.

🔹 12th Annual Duck Yuletide Celebration – December 3rd, 3pm to 5pm; Come watch the lighting of the crab pot tree. Santa will also be reading books to children from his workshop. Christmas Photos are available at the gazebo at Town hall.

JK'S BURGERS ARE BACK!

Every MON & THURS - @ 5:00 - GREAT NIGHT WITH GREAT FRIENDS

Have you been to JK's for dinner? It has a great menu & atmosphere and is a favorite amongst locals. Every fall through early spring John adds his Famous Burger night on Monday and Thursday evenings to his bar menu. These are not just any old burger. They ground their own meat, throw some magic in and "there you have it"! Whether you are a full-time resident or one of our non-resident owners you are bound to run into someone you know and have a few laughs. Hope to see you there.

Contribute to Making the OBX the Best It Can Be!

Complete this survey from Outer Banks Tourism Board

The Outer Banks Tourism Board is working on developing a long-range "Tourism Management Plan" for our community and is seeking input from residents and non-residents property owners.

In creating this plan, it is critical for all voices to be heard, including the voices of all property owners.

They know that tourism development can have both positive and negative implications for the quality of life of residents and property owners. The Outer Banks Visitor Bureau's goal is to listen to all voices and create a shared vision for making Outer Banks an even better place to live and work while continuing to make it an appealing place to visit.

Please consider taking 10-15 minutes to complete a quick survey. Survey responses are anonymous, and your email will not be used for any other purpose.

We have lived at the OBX for 30 years and I don't recall the Tourism Board campaigning for the community's input. I am thrilled they are, and I have already completed the survey! I hope we can all make a difference in continuing to make the OBX the best place to be a part of! Thanks so much!

Take the OBX Resident Survey

"Ruby" the Capitol Hill Christmas Tree took a stop in Manteo on its way to Washington, DC. Check it out below 👇

Housewatch & Homeowners Services is a caretaker service, available for hire to check your home 2X a month - 252-573-8587 (cell)

OBX Express – is an airport transportation service for hire. Lorrie Carter, owner/driver is available 24/7 and can be reached at 804-929-8779

GOOD NEWS

You could lower your interest rate up to 2% at the start of your loan! Jason Hanson with OBX Mortgage has a new Mortgage Product called the 2 – 1 B U Y D O W N

This is a great option for borrowers who expect an increase in their income in the next few years or who have excess seller concessions to use – and want to take advantage of a low fixed rate. So how does it work? During the first year of the buydown, a 2% discount is applied towards the interest rate, and in the second year a 1% discount is applied. After two years, the interest rate returns to the original percent of the remainder of the mortgage term.

This was a challenging closing with a few delays but Alex is an expert at getting everything over the finish line.

WE LOVE TO STAY BUSY & WE LOVE REFERRALS

Know someone that is looking to SELL OR BUY? Please give them our information! It is a tough market, and we are navigating through this challenging market on top and coming out with happy sellers & buyers.