Hooty's Tips:
PR Log (Press Release) – Feb 07, 2009 – Our webmasters have just completed a new link to display every foreclosure for sale in North Carolina's Outer Banks. See REO listings for sale from The Dean Agency and every real estate firm on the Outer Banks. Search short sales and high investment returns with our easy one click links.
The Dean Agency leads the market in educating buyers on bank negotiations and tips for buying foreclosures. Our brokers have received special training sponsered by NC real estate commission in addition to training by banks and other lenders regarding bank owned sales.
Please allow us to send out a Happy New Year’s greeting to everyone. We also want to thank everyone for the superb year the company had in 2008. Despite an 18% decline in the number of property sales in the Outer Banks; The Dean Agency increased our dollar volume sales by an incredible 253% and unit sales increased by 112% from 2007. We appreciate everyone who supported us in this achievement.
Interesting Real Estate Facts from 2008
North Carolina is the 4th fastest growing state in the Union.
NC is the fastest growing state east of Texas
These Indicators Show a "Bottom" Should Be Near in Sluggish Sales on the Outer Banks
Cash flow neutral and cash flow positive properties are more regularly appearing on the market. These are being quickly sold to buyers who make up the "standing demand" for Outer Banks real estate. We expect 2009 will trend further in this direction, stimulating demand (while unfortunately eroding prices.)
Vacation rental demand has held up against the larger economic downturn. By comparison to Ocean City, the Jersey Shore and Myrtle Beach the Outer Banks continues to offer substantial advantages for our particular demographic;
The Dean Agency leads the market in educating buyers on bank negotiations and tips for buying foreclosures. Our brokers have received special training sponsered by NC real estate commission in addition to training by banks and other lenders regarding bank owned sales.
Please allow us to send out a Happy New Year’s greeting to everyone. We also want to thank everyone for the superb year the company had in 2008. Despite an 18% decline in the number of property sales in the Outer Banks; The Dean Agency increased our dollar volume sales by an incredible 253% and unit sales increased by 112% from 2007. We appreciate everyone who supported us in this achievement.
Interesting Real Estate Facts from 2008
North Carolina is the 4th fastest growing state in the Union.
NC is the fastest growing state east of Texas
These Indicators Show a "Bottom" Should Be Near in Sluggish Sales on the Outer Banks
Cash flow neutral and cash flow positive properties are more regularly appearing on the market. These are being quickly sold to buyers who make up the "standing demand" for Outer Banks real estate. We expect 2009 will trend further in this direction, stimulating demand (while unfortunately eroding prices.)
Vacation rental demand has held up against the larger economic downturn. By comparison to Ocean City, the Jersey Shore and Myrtle Beach the Outer Banks continues to offer substantial advantages for our particular demographic;
namely, larger, cheaper accommodations in a more peaceful and less dense setting. The outlook for fuel prices is also encouraging for 2009. Rental receipts for 2008 increased 4% over 2007.
Much cash has remained parked on the sidelines during 2008, with investors searching for practical ways to maintain the value of their holdings. The stock market has had declines in the 40% + range; CDs are paying pitiful returns and the value of cash is due to be diminished by the Treasury’s mad dash to print money. Real estate is, once again an obvious safe haven for investors. The flip side of low CD rates is incredible 30 year mortgage rates – fluctuating between 4.75% and 5.15% on loans under $417,000. The best hedge for inflation is income producing real estate with fixed rate loans. Declines in Outer Banks real estate have been much less than other asset classes. Combine the enjoyment and tax advantages provided by second homes and investment property and the outlook for 2009 is encouraging.
Outer Banks property has historically moved at a rate of roughly 1200 units annually before the 2003-2005 boom. In 2005 sales peaked at 3,342 units. In 2008 our market produced 1,312 property sales. This figure is sustainable and most likely represents a figure within 5-8% of a "normal market."
Single family home inventory is down over 14% (after years of steady increases) from this time in 2007. Many discouraged sellers have realized that real estate is a "long game" and have decided to hold. Those who can’t hold on are far more realistic about what it takes to sell in this climate. Those homes still in play represent strong opportunity for shrewd buyers.
We encourage everyone to keep visiting our website. In 2008 we had over 163,000 visits to TheDeanAgency.com, roughly half were regular visitors. We have added a new button to the home page that shows all listings posted within the last 24 hours so return visitors can see what’s new. Look for the red "New Listings" button.
Good luck to everyone in 2009. Call or email anytime, we are in the office everyday except Sundays. We will continue our policy of providing enthusiastic, professional service that is information based. Our clients make offers with the confidence that they have all the information necessary to make wise decisions. If you are not receiving automatic listing updates, email us today and we will notify you of every property that fits your guidelines.
Thank you again for making us the "biggest little company on the beach."
Much cash has remained parked on the sidelines during 2008, with investors searching for practical ways to maintain the value of their holdings. The stock market has had declines in the 40% + range; CDs are paying pitiful returns and the value of cash is due to be diminished by the Treasury’s mad dash to print money. Real estate is, once again an obvious safe haven for investors. The flip side of low CD rates is incredible 30 year mortgage rates – fluctuating between 4.75% and 5.15% on loans under $417,000. The best hedge for inflation is income producing real estate with fixed rate loans. Declines in Outer Banks real estate have been much less than other asset classes. Combine the enjoyment and tax advantages provided by second homes and investment property and the outlook for 2009 is encouraging.
Outer Banks property has historically moved at a rate of roughly 1200 units annually before the 2003-2005 boom. In 2005 sales peaked at 3,342 units. In 2008 our market produced 1,312 property sales. This figure is sustainable and most likely represents a figure within 5-8% of a "normal market."
Single family home inventory is down over 14% (after years of steady increases) from this time in 2007. Many discouraged sellers have realized that real estate is a "long game" and have decided to hold. Those who can’t hold on are far more realistic about what it takes to sell in this climate. Those homes still in play represent strong opportunity for shrewd buyers.
We encourage everyone to keep visiting our website. In 2008 we had over 163,000 visits to TheDeanAgency.com, roughly half were regular visitors. We have added a new button to the home page that shows all listings posted within the last 24 hours so return visitors can see what’s new. Look for the red "New Listings" button.
Good luck to everyone in 2009. Call or email anytime, we are in the office everyday except Sundays. We will continue our policy of providing enthusiastic, professional service that is information based. Our clients make offers with the confidence that they have all the information necessary to make wise decisions. If you are not receiving automatic listing updates, email us today and we will notify you of every property that fits your guidelines.
Thank you again for making us the "biggest little company on the beach."
