Nags Head, NC Real Estate News

By Greg Cremia
(Shore Realty of the Outer Banks)
Now that the election on the referendum to increase property taxes in Nags Head for beach nourishment is over I am left wondering.This is to the residents of Nags Head. If you did not vote. Why not?If you voted against the tax. Why?If you live on the oceanfront why did you vote for or against beach nourishment and why? 
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By Greg Cremia
(Shore Realty of the Outer Banks)
Sign up for you free evaluation of your properties value. Prices in Nags Head are up in some areas and down in other areas. Find out where your house or lot fits in today's market.There are no obligations and you can learn from my 18 years experience selling real estate on the Outer Banks.
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By Greg Cremia
(Shore Realty of the Outer Banks)
Search all Nags Head real estate and homes for sale in one location. You can search all you want without having to sign up or register.There are 10 listings per page with a digital satellite map of the area next to the properties. Zoom in on your new home from outer space.You can search in any area or any town or any subdivision in any price range.
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By Ronnie Roach
(PrimePay Business Services)
Lone Cedar Restaurant in Nags Head was destroyed by fire last night.  For those not familiar with the restaurant, it was known for excellent food and great service. There were not many details from bystanders and fire personnel.  There were a few news trucks from Tidewater Virginia reporting on the story so we might get a clearer picture this evening.  It is awful timing - the tourist season is just around the corner.  They had just completed a major remodeling of their bar.            
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By Greg Cremia
(Shore Realty of the Outer Banks)
The people on the Outer Banks have always dreamed of a convention center and it looks like we might finally get one. A 9.6 acre site at MP 16 in Nags Head has been purchased by the Outer Banks Tourist Bureau in conjunction with the town of Nags Head.There are no plans to build the convention center just yet but at least we now have a big enough piece of land set aside.
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By Ronnie Roach
(PrimePay Business Services)
The Beach Nourishment Vote results are in and beach nourishment has been voted down in Nags Head.  The special district (those closest to the ocean and the ones that would pay a majority of the tax 39 cents per $100 value) narrowly approved the plan with a preliminary vote of 56 yes and 53 no.The rest of Nags Head (the owners that were asked to only pay 5 cents per $100 value) soundly defeated the issue with 324 voting yes (40%) and 478 voting no (60%)  Both districts had to approve the plan in order for it to pass.  Visit Outer Banks Real Estate for updates.  
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By Ronnie Roach
(PrimePay Business Services)
The residents of Nags Head on the Outer Banks of North Carolina are casting their vote today on Beach Nourishment.  The papers have had plenty of letters to the editor to publish from both sides of this issue.  One of the local blogs I read - Bill's OBX Beach Life has posted an online poll about support for beach nourishment.  As of 2 PM this afternoon - his readers are not supporting the beach nourishment program.  Current status:5 votes for beach nourishment13 votes against beach nourishement1 vote - never heard of it - this person cannot possibly be from the beach - it must be one of Bill's windsurfing buddies from up north.6 votes for - Not sure if I am against it or for it 1 vote for otherNow I know this is not a scientific poll - the margin of error is probably high.  It will be i...
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By Ronnie Roach
(PrimePay Business Services)
The time has come (scheduled for Tuesday April 17th) for Nags Head Residents to vote on Beach Nourishment.  There are many vocal opinions - you can read the letters submitted to our local papers and local blogs.  I support beach nourishment.  I believe it is a necessary maintenance issue but I am concerned that there is not enough local support to pass the proposal.  The cost for not doing anything will probably turn out to be much greater than anyone expects.  I will post the results next week.  
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By Ronnie Roach
(PrimePay Business Services)
I wrote a post on Outer Banks Real Estate about the current activities on the Outer Banks.  Real Estate sales are still slow but we have seen an increase in activity.   The hot topic now is the Beach Nourishment vote to be held on Tuesday April 17th for the citizens of Nags Head.  The local papers, blogs and organizations are busy presenting their sides.  Details and links for the proposal are located on an earlier post.  I will post vote results as soon as they are released.
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By Greg Cremia
(Shore Realty of the Outer Banks)
RESIDENTIAL SOLD MARKET ANALYSISFinancing            No. of Listings      Dollar Volume      Average Price      Median Price      Average DOMOceansideConventional            5                       $4,511,494             $902,299              $799,494              136Totals                      5                       $4,511,494            $902,299            $799,494             136Between The RoadsConventional            3                        $1,440,000            $480,000             $360,000               117Totals                      3                       $1,440,000            $480,000            $360,000             117WestsideConventional            8                        $2,812,500            $351,563             $376,250               207Cash                       2    ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The 24th annual Nags Head Woods 5K run is scheduled to run on May 12, 2007 in the Nags Head Woods Ecological Preserve. This is a rare maritime forest and offers a unique setting for a race. If you have an interest in running you need to sign up right away because this event usually fills it's 400 runner limit. The Outer Banks Kiwanis Club is organizing the event this year and entry forms are available on their website.
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By Ronnie Roach
(PrimePay Business Services)
Nags Head residents have until Friday March 23rd to register to vote for the Beach Nourishment referendum which will be held on April 17th.  You can see a presentation by Willow Kelley to the Nags Head Commissioners on Outer Banks Real Estate.  Become informed, register to vote if you have not already and let your voice be heard.  
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By Greg Cremia
(Shore Realty of the Outer Banks)
The value of Nags Head real estate has some twists to it depending on which areas of the town you are looking at. Basically, it is broken down into 3 areas, Ocean Side, West Side and Between the Roads. Ocean side is pretty much self explanatory as those properties are located on the ocean side of Rt 12. The west side comprises the properties located on the west side of Rt. 158 and consists primarily of year round residents. The properties located between these 2 roads are just that.It is the properties between the roads where the majority of the summer vacation homes are located and these are the properties that have seen and increase in value for the last 5 years. The slowdown of 2006 did not affect the value of these properties making them a good investment for the money. Visit Nags H...
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By Ronnie Roach
(PrimePay Business Services)
Protect Nags Head is a site created to promote Nags Head Beach Nourishment and to support the vote for the bond referendum on April 17th 2007.  The site offers answers to frequently asked questions, a tax calculator, links to information about beach nourishment and contact information for the organization.  The vote is five weeks from tomorrow so do your homework - get informed and most importantly let your voice be heard.
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By Ronnie Roach
(PrimePay Business Services)
The first question about beach nourishment should be - Does it work?  Beach nourishment has helped communities along the coast.  Much of the quality depends on where the sand comes from.  Many locations that bring sand from a local channel complain about the size of the grain and the muddy texture.  The sand to be used in the Nags Head Project according to the engineering firm is some of the best they have seen.  The project is estimated to last 10 years according to current erosion rates.  There are two alternatives that have been proposed - do nothing or to buy back the properties in trouble.   The do nothing approach has already created many problems with access to homes that are not ready to fall into the ocean.  In South Nags Head, roads have been destroyed, rebuilt and destroyed a...
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By Ronnie Roach
(PrimePay Business Services)
Nags Head residents will have an opportunity to vote on April 17th 2007 for a Beach Nourishment Project.  The proposed plan will raise $24,000,000 through homeowners tax increases.  Dare County has agreed to spend $8,000,000 on the project.  The majority of the tax will be charged to a Municipal Servicing District (i.e. those close to the beach) and the other residents will see a slight increase in their property tax bill.  For more details, please visit Outer Banks Real Estate, The Town of Nags Head, and Beach Huggers.
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By Greg Cremia
(Shore Realty of the Outer Banks)
Good news Outer Banks. Another vacation oriented organization just discovered what I discovered almost 30 years ago. Trip Adviser published the results of a survey that picked Nags Head as the top US beach for family vacations. Nags Head and the Outer Banks has always been a family beach. This was no accident. We have discouraged the nightlife type of atmosphere and zoned the beach to cater to family friendly vacations. Who needs nightlife, after a day at the beach the kids will be in bed when nighttime falls. The college kids have their places to go to and families come to Nags Head. With a little effort on the part of Nags Head and a whole lot of help from Mother Nature we now have one of the best vacation spots in the whole country. Below is an excerpt from the article.NEEDHAM, Mass....
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By Greg Cremia
(Shore Realty of the Outer Banks)
Nags Head real estate values have taken a hit more so than some other parts of the Outer Banks. While sales of all Outer Banks real estate has been slow some areas have faired off better than others. Unfortunately, the sales of Nags Head real estate has taken the brunt of the decline. The following statistics were derived from the Outer Banks Association of REALTORS MLS. 2006 saw 101 residential properties sell for an average price of $537,581 and a median price of $422,800.2005 saw 168 residential properties sell for an average price of $623,435 and a median price of $500,000.2004 saw 223 residential properties sell for an average price of $548,553 and a median price of $425,000.2003 saw 191 residential properties sell for an average price of $436,451 and a median price of $330,000. 
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By Ruth Ann Ross
(Coldwell Banker Seaside Realty Nags Head)
Right now may actually be one of the best times to buy a home. consider these facts: * INTEREST RATES NEAR RECORD LOWS    Today's interest rates are comparable to 40-year lows, offering homebuyers a once-in-a-lifetime opportunity.*LARGE INVENTORY WON'T LAST    You may never have a better selection then now!*PRICES OVERALL HAVE  STABILIZED    Contracts for home sales are up and the outlook is for prices to increase next year.*POSITIVE OUTLOOK     Former Federal Reserve Chair Alan Greenspan recently said that housing prospects are looking up. "Most of the negatives in housing are probably behind us. The forth quarter should be reasonably good, certainly better than the third quarter". According to industry estimates, 2006 will be the third best year on record for home sales.*REAL ESTATE I...
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By Ruth Ann Ross
(Coldwell Banker Seaside Realty Nags Head)
PENDING HOME SALES INDICATE MARKET STABILIZATIONPending home sales are hovering in a narrow range, another indication that a stabilization is occurring in the housing sector, according to NAR. The Pending Home Sales Index, based on contracts signed in October, slipped 1.7% to a reading of 107.2 and is 13.2% lower than October 2005. The index had trended up from a cyclical low of 105.6 in July, and a decline from year-ago levels is narrowing.  In September, the index was 13.6% below a year earlier, while in August the decline was 14.0%. David Lereah, NAR's chief economist, said a fairly steady pace of home sales can be expected for the next two months.  "It's important to focus on where the housing market is now--it appears to be stabilizing, and comparisons with an unsustainable boom ma...
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