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Old 11-11-2007, 09:56 AM
 
109 posts, read 351,049 times
Reputation: 33

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We own property at the Outer Banks and Bald Head Island. I travel
much of the state and the country. What is happening in your area
of the NC coast? How are homes selling? Are you noticing an increase
in out of state interest? Are baby boomers buying more second homes
or primary residences?
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Old 11-13-2007, 11:17 AM
 
419 posts, read 1,243,333 times
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Quote:
Originally Posted by IggysListing View Post
We own property at the Outer Banks and Bald Head Island. I travel
much of the state and the country. What is happening in your area
of the NC coast? How are homes selling? Are you noticing an increase
in out of state interest? Are baby boomers buying more second homes
or primary residences?
I'm kind of curious about the markets of the two places you listed.
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Old 11-13-2007, 11:46 AM
 
109 posts, read 351,049 times
Reputation: 33
Quote:
Originally Posted by giffman View Post
I'm kind of curious about the markets of the two places you listed.

I can answer questions about the type of property, etc.
I was just trying to get more insight from others about trends.
We are on the cusp of a "great migration" and "wealth shift'
due to the aging of baby boomers. Also, NC is hot and people are
moving here from all over the country.
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Old 11-13-2007, 01:35 PM
 
419 posts, read 1,243,333 times
Reputation: 192
Quote:
Originally Posted by IggysListing View Post
I can answer questions about the type of property, etc.
I was just trying to get more insight from others about trends.
We are on the cusp of a "great migration" and "wealth shift'
due to the aging of baby boomers. Also, NC is hot and people are
moving here from all over the country.
The reason I ask is that my wife and I were looking into Bald Head Island about seven years ago (back when building lots were 30k). Now the cheapest building lot is in the neighborhood of 250k. At the time, we were not in a position to make a purchase. We are now in a position to purchase but the huge run up in prices has left a bad taste in our mouths.
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Old 11-13-2007, 05:36 PM
 
109 posts, read 351,049 times
Reputation: 33
Quote:
Originally Posted by giffman View Post
The reason I ask is that my wife and I were looking into Bald Head Island about seven years ago (back when building lots were 30k). Now the cheapest building lot is in the neighborhood of 250k. At the time, we were not in a position to make a purchase. We are now in a position to purchase but the huge run up in prices has left a bad taste in our mouths.

Bald Head Island is world class property and the prices have risen to
reflect that. There are still some affordable sites there when compared
to CA and other places. NC is growing rapidly and coastal property
is going to be in high demand. There are some great values at the Outer
Banks now, but I don't expect that to last long.
Best wishes.
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Old 11-13-2007, 08:42 PM
 
Location: Cape Carteret, NC
713 posts, read 3,474,668 times
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Smile Other areas haven't gone up as much

Quote:
Originally Posted by giffman View Post
The reason I ask is that my wife and I were looking into Bald Head Island about seven years ago (back when building lots were 30k). Now the cheapest building lot is in the neighborhood of 250k. At the time, we were not in a position to make a purchase. We are now in a position to purchase but the huge run up in prices has left a bad taste in our mouths.
Bald Head is very unique, but most waterfront property is still expensive compared to what it was a few years ago. However, NC waterfront is reasonable compared to what it is in many areas.

I think the best buys at this point are in water access communities. There are a wide variety of amenities available and each community has its own flavor.

We spent about three years looking for our own property on the water. We found reasonably priced waterfront property in Carteret County.

Property prices in some areas of the county have backed off substantially, and there are some very good buys that were not available even a year ago.

Still it is a mixed bag, if you are looking for a good buy, you have to be willing to act quickly. There are still properties around that owners are in no rush to sell. They expect the market to eventually get back to their price.

It is pretty hard to predict that. There is plenty of building for that rush of buyers.

At this point it is still a trickle and most of them are looking for value priced homes instead of expensive ones.

I still think the Moderator cut: Southern Outer Banks or Crystal Coast will do well in the coming rush of buyers.

-David Sobotta

Last edited by SunnyKayak; 01-20-2008 at 01:08 PM..
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Old 11-13-2007, 09:34 PM
 
Location: NC's southern coastline
452 posts, read 2,128,509 times
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Wow, I was wondering what Bald Head Island costs these days, the way other things are rising. I knew it must have skyrocketed though because it IS unique.....it's a premium area, for sure.

I'm not a realtor but there seems to be a lot of interest from out of state, for people looking to retire here, moreso than people looking for vacation homes. Am I right? This is what it seems to me...people are looking for primary homes. A local builder told me there are dozens of couples he himself knows who want to begin building their homes on their lots here, but are just waiting for their houses up north to sell...seems like it's just a bad seller's market overall right now.
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Old 11-14-2007, 04:06 AM
 
Location: Morehead City, NC
1,676 posts, read 5,360,577 times
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The Crystal Coast area has experienced a great slow down. October sales are down 42% compared to the same time period last year with this last quarter showing a 30 month supply of inventory. Prices are at an annual low after seasonal adjustments.
The great sales and price spike that occurred here in 2005 is long gone. This market-The Crystal Coast-Is a very attractive market for buyers.
Moderator cut: TOS violation

Last edited by SunnyKayak; 11-24-2007 at 09:51 AM..
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Old 11-24-2007, 08:10 AM
 
Location: GA and NC
50 posts, read 222,916 times
Reputation: 8
Anyone who purchases property close to the coast, especially in NC, will reap substantial long term rewards. The days of buying and flipping are over. I am finding that sellers in the Brunswick county coastal area, have decided they can afford to wait until the market picks up, rather than bail, unless they are in a foreclosure situation. This will keep the market healthy, and price's will tend to increase rather than fall. There are still deals here, compared to up north. Timing and location is everything in Real Estate. Shoulda, coulda, woulda?, what better time than now to buy, take the leap. Prices in this area have increased over 7%, not bad for an investment, and a wonderful quality of life.
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Old 11-25-2007, 06:17 PM
 
10 posts, read 59,165 times
Reputation: 12
How about things in the Emerald Isle area? Are things moving or just sitting still?
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