Read on Below for fast facts and statistics for the Greater Outer Banks Q3 real estate market for 2018.
Greater OBX Q2 2018 Market Report
The Greater Outer Banks real estate market continues to exhibit positive growth signs, with steady reductions in foreclosures, increase in average residential listing prices, and decrease in number of days on the market. Read on below for all the market fast facts!
Pirate's Cove Q2 2018 Market Report
With sales up 125% from Q2 2017 and average days on the market down by 10 days, Pirate's Cove shows strong indicators of a fruitful end of summer market. Read on below for all the important stats!
OBX Soft-shell Crabs: From Local Waters to Local Plates
Soft-shell crab season is upon us. Fried, sauteed, sandwiched or standing alone, this Outer Banks seasonal delicacy is not to be missed. So what goes into the catching and preparation of your soft-shell crab entree? From local waters to local plates, find the answer to this question and more below!
Why Crabs Shed
When a crab gets too large for its shell, it undergoes a molting process to shed its exoskeleton, leaving behind a soft shell underneath. The soft shell immediately starts to harden and will completely harden within a couple of days.
When Does Soft-shell Season Start?
Crabs generally shed to accommodate summer growth. Opinions vary regarding when the season for soft-shell crabs truly begins -- the first full moon of May is an oft-cited start date. More generally, late Spring through early-to-mid Summer is the time to enjoy the seasonal treat.
To Catch the Ideal Crab for Shedding....
To catch a crab on the verge of molting, pots are baited with male crabs known as Jimmy crabs. Since soft-shell crab season corresponds with the crabs' mating season, a large male crab is likeliest to capture the attention of potential suitors.
So We've Caught the Crab, Now What?
Once crabs are caught, they are sorted based on how quickly they will shed. This is identified by a peel line on the back fin of the crab. This line gets progressively more red as the the crab approaches its molt. A red line means it will likely shed that day, while a pink line means shedding could still take 2-4 days.
Once a crab molts, it immediately begins to harden, so they must be watched closely in shedding tanks to be pulled and packed in coolers at just the right time.
Eat Soft-shells Locally, In-Season
The best soft-shell crabs are cooked while still alive, so it's important to eat them locally and during the season. Below are a few of my favorite restaurants to enjoy them while they are at their peak.
A special shout-out to Basnight's Lone Cedar Cafe, where they catch their own crabs and molt on-site for the freshest crab on the beach!
Leave a comment on Facebook with your favorite places to indulge in the summer treat!
- Basnight's Lone Cedar Cafe, Nags Head
- Blue Water Grill and Raw Bar, Pirate's Cove
- North Banks Raw Bar and Grill, Corolla
- Blue Point, Duck
Lost Colony Artifact Provides More Questions than Answers
As an Outer Banks native so familiar with the story of the The Lost Colony, I sometimes forget that it is truly one of our country's greatest unsolved mysteries. I recently came across an article in Smithsonian Magazine that reminded me what an enigma the disappearance of those 117 men, women and children remains today, nearly 450 years later.
In 1587, the colonist arrived on Roanoke Island to establish the first English settlement in the New World. Just three years later, when English ships returned to replenish supplies, they had disappeared leaving only one clue -- the word Croatan carved into a post, referring to a settler-friendly Native American tribe local to present-day Hatteras.
Twenty years ago, when excavators unearthed a gold prancing lion ring at a site in Hatteras, and a researcher linked the ring to a family involved in Sir Walter Raleigh's voyages, many were hopeful the new artifact may shed light on what happened to the fabled early settlers of our coastline.
According to the Smithsonian Magazine article, however, the ring was not really gold. Further testing revealed the ring to be brass, casting doubts on whether the artifact indeed belonged to one of the original colonists, or whether it made its way to the island via the second wave of settlement nearly a century later. The research community remains divided on which scenario is likeliest.
Teams of archaeologists continue to dig at a Hatteras site and also at the head of the Albemarle Sound in search of the next great artifact that may provide answers about the earliest settlers.
For now, our curiosity may have to be quenched with dramatic rendition. This year's The Lost Colony production is just around the corner, starting next month on May 26 through August 19. Tickets starting at $20 can be purchased here.
Outer Banks Q1 2017 Real Estate Market Report
Read on below for fast facts on the Outer Banks real estate market for the months of January-March 2017. Some highlights:
- average listing price jumped to $600k
- 369 residential homes were sold
- the most expensive listing sold went for more than $3mm
Top 5 Northern Outer Banks Homes for Savvy Investors
When my clients come to me looking for second home and investment properties on the Outer Banks, the first and foremost item I look at when choosing homes for them is rental performance.
To me, the perfect investment home pays its own way. To make this happen, I look for around an 8 to 10 percent return on the purchase price through annual rental income. With this return, I feel comfortable assuring my clients that home expenses, including mortgage, taxes, insurance, household bills and property management fees will be covered by the rental income.
With this in mind, below are a few of my Northern OBX home picks for best return on investment. These homes range in price but all share one vitally important factor -- they are perfect for the savvy investor.
114 Acorn Oak Avenue, kitty hawk - 4 BRs, 3 Baths
$439,000
2016 Rental Performance: $37,350 - 8.5% of selling price
Priced-to-sell ocean-side home with private pool and hot tub. Located 5 lots off the ocean with beautiful ocean views from top floors and decks. Spacious rooms and nice layout with bedrooms on mid-level, plus a ship's watch and brand new kitchen appliances make this home more than just a great investment.
100 Flight Drive, duck - 6 BRs, 4 BAs, 1 Partial BA
$599,000
2016 Rental Performance: $45,876 - 7.6% of selling price
Semi-sound front home with great views. Take in perfect Outer Banks sunsets on the expansive decks. With amenities like a game room and pool, sound views, easy access to the beach and a central location between Duck and Corolla, this house makes the perfect investment and second home.
113 Baldpate Drive, duck - 7BRs, 5 BAs, 2 partial BAs
$649,000
2016 Rental Performance: $55,238 - 8.5% of selling price
This ocean side home features two master suites, a large game-room, and a private pool & hot tub. Stunning extra large wrap around decks, a well-appointed kitchen and additional amenities like a volleyball court, basketball goal, & horseshoes & outdoor shower make this home a consistent rental performer.
100 Hatchcover Court, Duck - 6 BRs, 6 BAs, 1 partial BA
$679,000
2016 Rental Performance: $56,261 - 8.3% of selling price
This well-maintained home is just a short walk away from Four Season's amenities including the community clubhouse and indoor pool, tennis and basketball courts. Great details like cathedral ceilings in the master suite, new appliances and granite countertops in the kitchen make this the perfect home for discerning renters.
143 Four Seasons Lane, duck - 6 BRs, 6 BAs, 1 partial BA
$770,000
2016 Rental Performance: $67,351 -- 8.7% of selling price
An unbeatable location in the exclusive Four Seasons community + walking distance to Duck Village shops and restaurants makes this home a worthy investment. With a private pool and hot tub, game-room and ample decking including lounge chairs and picnic tables, this is an OBX vacationer's dream.
Outer Banks Taste of the Beach 2017 Event Picks
Oysters, shrimp, and bubbly for days — March has it all! So many tasty events, so little time — so we’ve picked our top can’t-miss-it event for each day of the weekend. Have more than enough time to try them all? You can find the full event list here.
March 23, 5-6 pm: The OB Primer
Where: Ocean Boulevard Bistro and Martini Bar
Ticket Price: $24
The perfect (and budget friendly!) way to get your Taste of the Beach weekend started. Ocean Boulevard will be offering a selection of tasty canapés, a thoughtfully created casual plate, and a cocktail, beer or wine for $24 all-inclusive.
Where: Basnight’s Lone Cedar Cafe
Ticket Price: $35.50
With variations like spiced and steamed, asian-style and buffalo, you’re sure to get your fill of local shrimp and them some with two full courses + an option to add a “Shrimptini Cocktail”.
Where: Blue Water Grill & Raw Bar
Ticket Price: $84
We wouldn’t miss this 6-course oyster with paired wine dinner featuring James Beard Award winning author and oyster expert, Rowan Jacobsen.
March 26, 12-1:30pm: Southern Sunday Brunch with Live Acoustic Music
Where: The Blue Point
Ticket Price: $27
What better way to end a tasty weekend than with a delicious Sunday brunch? A ticket gets you two courses and a Bloody Mary or Mimosa. Additional Bloody Mary’s and Mimosas are only $5, so make it a Sunday Funday!
Outer Banks 2017 Beach Nourishment Plan
Beach Nourishment: What It Is, Why It Matters
Beach nourishment describes a process by which sand lost through longshore drift or erosion is replaced from outside sources. This process is part of a wider coastal defense scheme to widen existing shorelines, thereby protecting upland infrastructure. In short, it is one way we keep Outer Banks beaches safe.
2017 OBX Beach Nourishment Plan
The Towns of Duck, Kitty Hawk and Kill Devil Hills are planning a Beach Nourishment project scheduled for this year. During the project, the beaches will remain open, but access to certain areas will be restricted during actual construction.
At this time, the details including exact start dates and project duration are not known. Below is the proposed schedule. One month prior to project commencement, expect to see mobilization operations, including laying sub-line and assembling land-based machinery. Click the links for more town-specific information.
*Click above for interactive map of nourishment sites
Duck
Where: 1.7 miles of shoreline from Oyster Catcher Lane to Army Corps of Engineers Field Research Facility
Starts: Mid-to-late May
Ends: Mid-to-late July
Duration: 60 days
Kitty Hawk
Where: 3.58 miles of shoreline from Southern Shores to KDH town lines
Starts: Mid-June
Ends: Mid-August
Duration: 60 days
Kill Devil Hills
Where: 2.6 miles of shoreline from the Kitty Hawk town line to Prospect Avenue
Starts: Early August
Ends: Early-to-mid September
Duration: 35-45 days
Beach Nourishment Funding Plan
In March 2016, the Dare County Board of Commissioners accepted a bid in the amount of $38,820,540 from the Great Lakes Dredge and Dock Company.
The project will be paid for in part by Dare County’s beach nourishment fund which is sourced from a 2% occupancy tax collected by the county. Additional funding will be supplied from each town through tax revenue generated through several municipal service districts set up within the towns.
For more information, visit the town website nourishment page, More Beach To Love.
Pirates' Cove Community Update: Oregon Inlet & Bonner Bridge
Oregon Inlet: Challenges & Solutions
With 195 slips and a charter fleet of 21 sport fishing boats for offshore, nearshore and inlet fishing, Pirate’s Cove Marina is one of the largest world class marinas on the East Coast.
Yet, in the past several years, issues with sand migration from the north at times have made it nearly impossible for boats to access the ocean via the Oregon Inlet channel.
Thanks to an inlet dredging program that began about a year ago, all that has changed, according to Jim Tobin, manager of the Pirate’s Cove Marina and head of task force for Oregon Inlet.
“A couple years ago, there were times when sand migration completely filled in the Bonner Bridge navigational span,” Tobin said. “You could stand up under the bridge where the boats were supposed to go. With the dredging project, we’ve been able to keep it open.”
Additionally, Tobin says the task force is pursuing other options for sand management, including sand bypass systems, jetties and other alternatives to ensure they remain one step ahead of any issues that may arise.
Positive Effects for Pirate's Cove Community
If, as planned, Oregon Inlet continues to be dredged and open, Tobin predicts the Pirate’s Cove fishing community and its coveted Big Game Tournament will see a significant rise in participation.
At its peak, the tournament boasted 130 charter boats. From a low of 50 participating boats, last year’s tournament saw a jump back up to 75 boats.
As word continues to spread about the more predictable navigational spans, Tobin said he expects more tournament growth to come.
“It’s harder to get the good news out, but we’re solving a lot of these issues,” Tobin said. “We’ve already seen use go up in this past year, and we expect this positive trend to continue. You could see a doubling of business in the marine industry."
This will also have a positive affect on the Pirate’s Cove housing market. Land, residence and boat slip values in the community are inextricably linked to the quality of the Pirate’s Cove boating and fishing experience. As this continually improves, homeowners can expect to see return on their investments also increase.
“We expect [easily navigable inlets] to breathe a lot of life not just into tournaments but into the Pirate’s Cove Community,” Tobin said
The New Bonner Bridge
Tobin stressed that the key to success for Pirate’s Cove charter fishing remains keeping navigational spans properly dredged.
But he said that it is possible the new Bonner Bridge will mean more deep water access and maybe even a lowering of dredging costs. Additionally, the navigational span will increase from 125 feet to 2500 feet—almost half a mile—meaning that it will likely be possible for more boats to travel through the span at once.
The Bonner Bridge project is scheduled to be completed in September 2019. See below for a visualization of what the new bridge will look like once construction is complete.
Q3 2016 Outer Banks Real Estate Market Report
The OBX market finished peak-season, Q3 July-September, on a high note. Read on below for fast facts on Q3 active and sold Outer Banks listings. Some highlights:
- a $15k increase in average active listing price
- as many homes sold in September as July and August — a long, healthy season!
- 469 residential homes sold
Top 5 OBX Nags Head Oceanfronts On the Market
Who doesn't love a luxurious oceanfront home? Add the charm and beauty of Nags Head, and you'll find a winning investment and vacation home, hands down. Below are my top five picks for Nags Head oceanfronts currently on the market. If something catches your eye, click the link to see the full listing. And let's be honest — with these head-turners, who could resist a closer look?
-Connie
108 E Sun Dancer Court, Nags Head
$1,199,999 — 5 BRs, 3 baths, 1 partial
Location, location, location! Just 1 mile north of Jennette's Pier and in the heart of the Village at Nags Head's Seaside South section. This home offers 180 degrees of ocean views. With an open concept reverse plan, the views are amazing from every level.
5107 S Virginia Dare Trail, Nags Head
$1,335,000 — 8 BRs, 5 baths, 1 partial
This Nags Head beauty features classic cedar shakes, and the timelessness continues throughout. Enjoy the sweeping vistas that over 80 feet of water frontage afford. Inside, expect multiple king-sized suites, top-of-the-line fixtures and appliances, and unlimited entertainment with a game room, wet bar and sauna.
4409 S Virginia Dare Trail, Nags Head
$1,799,000 — 8 BRs, 6 baths, 1 partial
A taste of Caribbean luxury comes to the Outer Banks in this spectacular custom-built beachfront villa. Beautifully decorated and well-appointed, this home includes a game room and theater room, a hot tub and private heated pool, plus a private boardwalk to the beach.
3531 S Virginia Dare Trail
$1,900,000 — 8 BRs, 8 baths, 1 partial
This exquisite oceanfront home features three lavishly furnished oceanfront decks. This home has all the makings of a perfect vacation retreat — a gourmet kitchen, media room, elevator, wet bar, hardwood and tile throughout, central vac, pool, hot tub and an outdoor shower.
2621 S Virginia Dare Trail
$2,275,000 — 9 BRs, 9 baths, 2 partial
This unique oceanfront community offers luxury amenities including beach services, a private pool for each residence, and homes featuring a custom gourmet kitchen, home theater, kids arcade, two full wet bars, fireplace, elevator and Tiki bar.
Outer Banks Coastline — The Graveyard of the Atlantic
The Graveyard of the Atlantic — it’s a familiar epithet used to describe the mercurial shoreline of our beloved Outer Banks. Hundreds of years worth of wreckage lay to rest along our coast, amounting to more than 1,000 ships sunk off the coast of Cape Hatteras alone.
So what makes the OBX coastline so difficult to navigate?
3 Major Factors:
- The Diamond Shoals are an always-shifting series of shallow, underwater sandbars extending eight miles out from Cape Hatteras. The shoals caught many wooden sailing ships off their guard while following coastal trade routes.
- Strong ocean currents — two collide near Cape Hatteras, the cold water Labrador current and the warm Gulf stream converge just offshore. In order to take advantage of these currents, ships came dangerously close to shore.
- Regional storms — while the Diamond Shoals and currents may not have posed any problems on the calmest of days, the all-too-familiar hurricanes and nor’easters often proved to be the final straw, blowing vessels into shore and pounding them into submission.
Want to learn more about the shipwrecks?
Shipwrecks caused by environmental conditions, combined with other shipwrecks attributed to piracy, the American Civil War, and German U-boat assaults make for an interesting underwater adventure.
You can see many of the wrecks up-close-and-personal on a diving excursion with groups like Dive Hatteras. If you prefer to learn more from the safety of the shore, visit the Graveyard of the Atlantic Museum in Hatteras for a complete history of local wreckage.
Top 10 OBX Waterfront Properties on Roanoke Island
As a long-time Manteo sound-front resident myself, I have a predilection for the beauty of Roanoke Island's waterfront homes. Whether you're looking for the best waterfront deals or the most luxurious homes on the island, this top-ten round-up has something for you. Make sure you view them all, the list gets more luxe as you go! And if something catches your eye, give me a call at 252.202.8979.
Best, Connie
1004 South Bay Club, Manteo $309,000 — 3 BRs, 2 full baths, 1 partial This Shallowbag Bay condo features sound and marsh views at an unbeatable price. Expansive covered decks and generous picture windows showcase the surroundings. This permanent residence was never rented and received the white-glove treatment from long-time owners.
1433 Ballast Point Drive, Pirate's Cove $445,000 — 3 BRs, 2 full baths This Pirate's Cove penthouse condo offers luxury, privacy, and wide-open views of the Roanoke sound. A thoughtful design and custom finishes, including Corian countertops and Pergo flooring, make this home a true waterfront market stand-out.
45 N. Hammock Court, Pirate's Cove $479,900 — 4 BRs, 2 full baths, 1 partial This is the most affordable single-family waterfront home on the Manteo market! A reverse floor-plan maximizes gorgeous canal, sound, and marsh-front views. It's located on a cul-de-sac and includes carport parking and a 55' boat-slip. This home makes a perfect rental investment.
27 Spinnaker Drive, Pirate's Cove $585k — 5 BRs, 5 full baths, 1 partial Custom-built with a reverse floor-plan, this home is a must-see for investors or second-home buyers. A favorite amongst renters, this waterfront beauty includes a pool, hot tub, 55' boat dock in navigable waters, and multiple upgrades.
14 Rudder Court, Pirate's Cove $650k — 4 BRs, 4 baths Unbeatable water views of the Pirate's Cove boating community make this newly renovated home best-in-class. Special features include: antique heart-of-pine hardwoods, a gourmet kitchen, four master suites with custom tiled showers, an elevator, tackle room, outdoor shower, and 35' boat dock.
11 S. Hammock Court, Pirate's Cove $759,900 — 4 BRs, 3 baths 1 partial Stunning picture windows frame water views in every direction of this completely renovated Pirate's Cove gem. Stand-out amenities include a golf-cart room, 'fishing cave', and outdoor bar, and two outdoor enclosed showers.
40 Ballast Point Drive, Pirate's Cove $980k — 4 BRs, 4 baths, 1 partial BA This sound-front beauty was built in the classic Nags Head beach house style with milled-wood walls and floors and exposed ceiling beams, plus extra wide porches. It's a true fisherman's haven with a fish cleaning station, outdoor shower, and 35ft boat slip.
18 Rudder Court, Pirate's Cove $1,249,000 — 6 BRs, 5 baths, 2 partial Endless water views. This home is truly over-the-top in all the right ways — Brazilian cherry wood floors throughout, gourmet kitchen, formal back-lit dining room and a theater + game room are just a few of the special features.
238 Mother Vineyard Road, Manteo $1,350,000 — 4 BRs, 4 bath, 1 partial BA Historical sound-front estate complete with gardens, private beach, dock with tower, boat lift, and separate apartment and work out quarters. Totally renovated without losing its historical appeal. Great location, too — within walking distance to downtown Manteo.
25 Ballast Point Drive, Pirate's Cove $1,995,000 — 5 BRs, 5 baths, 1 partial Over 1.08 acres. This home was engineer-designed for its waterfront location with soaring windows, Cathedral ceilings, a ships watch, and tri-level tower. Extra-luxe amenities include a wine cellar, sauna, and his-and-hers separate master baths in master suite. Beautiful landscaping tops off this picture-perfect island home!
Corolla Activities To Experience Before Summer's End
With the last summer days slipping by us, I’m making the most of Corolla’s best seasonal events and activities. Below is my round-up of Corolla activities you don’t want to miss before summer’s end.
The Corolla Wild Horse Museum — Paint A Mustang
This is the perfect crafty activity for adults and kids alike. Choose from three different sizes of wooden mustang cutouts. Paint, brushes and smocks are provided. All proceeds benefit the care and protection of Corolla’s wild horses.
Where: The Corolla Wild Horse Museum — 1129 Corolla Village Road
When: Tuesdays and Thursdays, 10am-2pm through September 8th
Price: $5 - $35 (depending on size of mustang)
The Corolla Wild Horse Museum — Meet a Mustang
Meet and pet one of Corolla’s rescued wild horses. While you visit with the animals, the Corolla Wild Horse Fund staff and trained volunteers will give you all the history and background on the rare breed.
Where: The Corolla Wild Horse Museum — 1129 Corolla Village Road
When: Fridays, 10am-1pm through Sept 30 Price: Donations accepted
Local Color
Local Color is an art gallery and studio that hosts painting parties for adults and children. Plan a ladies night out for “Lushes with Brushes” or get the kids involved with “Colorful Kids” art classes. Many of the class subjects are beach themed so you can learn how to capture the beauty of the OBX on canvas.
When: View the calendar of events here
Where: 510 Hunt Club Drive, Corolla
Price: Prices vary based on group number
Whalehead Wednesdays
Enjoy local wine tastings and live music set against a beautiful sunset backdrop in the breathtaking and peaceful setting of Historic Corolla Park. Food is available for purchase, and the event is kid and pet-friendly.
When: Wednesdays, 3-7pm through September 14
Where: Historic Corolla Park, 1100 Club Road, Corolla
Price: $15 general admission for a souvenir wine glass and samples of featured wines (free for children and non-drinking adults)
Corolla Kiteboarding
Looking for a more adventurous way to round out your summer? The shallow sandy bottom of the Currituck Sound is the perfect place for beginner kiteboarders to get up and riding in no time. An introductory lesson with Corolla kiteboarding will teach you the basics of the sport, such as important tips for handling the wind and learning about the gear. After the intro, you’ll be fitted with a harness and ready to hit the water!
When: Call or text to book a lesson — (252) 202-1227
Where: Corolla or Duck — exact location TBD upon booking the lesson
Price: ranges from $75 for introductory lesson to $450 for a private lesson.
Q2 2016 Greater Outer Banks Real Estate Market Report
Wondering how the Outer Banks real estate market is heating up this summer? Read on for fast facts and figures for Q2 April-June 2016. Some highlights:
- 1703 active listings on the market
- 514 listings sold in Q2
- 5% increase in average sale price compared to last year
Read on for the full analysis!
Q2 2016 — Corolla Real Estate Market Analysis
Below you'll find some fast-facts and figures on Corolla market activity for April-June 2016. Some highlights:
- 9% increase in units sold compared to Q2 2015
- average sale price was $608k
- a total of 76 homes sold in the 3-month period
Read on for the full analysis... and stay tuned for a full Outer Banks market report, coming soon!
Before & After — Uncovering Hidden Potential in A Home
Few parts of my job are more rewarding than helping my clients find the perfect home — especially when I help them uncover a diamond in the rough.
A couple of years ago, I was working with clients relocating from New York. After renting in the city for many years, they were ready to purchase their first home together in North Carolina. So I put together a list of homes that met their specified criteria, and we got to work.
After touring several homes, we pulled up at a house that immediately made their eyes light up. This particular home had been on the market for over a year, uncharacteristic of homes in the neighborhood and designated price range. It had a great open floor plan, a Charleston-style wrap around porch, stunning white oak floors. So why did this home sit on the market?
To be honest, it had one of the strangest master bathrooms I had come across in more than 20 years as a realtor. So strange, in fact, that it’s much easier to describe with pictures:
Upon seeing this bathroom, I saw the enthusiasm drain from my client’s eyes. We realized why so many had passed on this otherwise spectacular home. But I encouraged them to look past it, to take a step back. “This can be fixed,” I told them. “Let’s talk potential."
So we sat down to crunch the numbers. The house, which had been recently reduced, was a steal for the neighborhood and well within their stated budget. Even with the added cost to renovate the bathroom, the numbers were in their favor.
With a little encouragement, my clients cut through the noise and saw what a truly great prospect the home was. And with just a little vision, they were able to turn a fun-house bathroom into the bathroom of their dreams.
Recently, these clients reached out to me with great news. Not only have they been 100% satisfied with their home choice, they were thrilled to find out the value of their home has dramatically increased since they purchased it.
“Connie — We just wanted to thank you again for helping us see the full potential in our home. We thought of you today when we received a Zestimate email alert that our home has increased in value by 45% since we purchased. We have been so thrilled with our decision to make this house a home, and it has turned out to be a great investment as well!” — The Hicks Family
The Top Five Pitfalls of For-Sale-By-Owner
When the real estate market is on the upswing, it can seem like houses are flying off the market effortlessly. It’s in these boom times that I more often see sellers tempted into going the FSBO — or “For Sale By Owner” — route. They think, “Why do I need a seller’s agent when these houses are practically selling themselves?”
Even when the market is hot, a successful real estate transaction involves more marketing, negotiations and logistics than many realize. Read on below for my top 5 reasons that you should avoid the FSBO pitfall.
You will net more money with an agent
When a prospective buyer sees FSBO, they automatically think “discounted.” Although selling a home without representation may save on real estate commission fees, the lower price required to make the property move usually means you will net less overall.
You will attract more viewings with an agent
Many buyer’s agents are less likely to show FSBO homes to their clients.
Without a professional representing the other end of the deal, buyer’s agents know the transaction is likely to cause their clients unnecessary headaches.
You Need a Strong Digital Marketing Strategy
90% of buyers search online for homes. At Island Crest Realty, we utilize cutting-edge digital marketing plans to ensure our sellers receive unparalleled exposure for there homes, including:
- Dedicated e-marketing campaigns
- Custom market analysis reporting
- Search engine optimization to boost listing search results
The Negotiation Process is Multilayered
Most of us have emotional ties to our home. It can be difficult, and even feel offensive, to receive lowball offers. An agent helps price your home to sell and has the experience to know when to walk away from an offer or when to counter. The negotiation process is multilayered and must consider varied interests, making an agent liaison invaluable. Consider for a second the many different sides of the transaction:
- The buyer who wants the best deal possible
- The buyer’s agent who solely represents the best interest of the buyer
- The buyer’s attorney
- The home inspection companies
- The appraiser if there is a question of value
- Your bank in the case of a short sale
Seller’s Disclosure Laws Can Be a Liability
While seller’s disclosure forms vary across states, they are typically lengthy forms that require the seller to disclose any known issue with their home. Failure to disclose an issue opens up the seller to a potential lawsuit from the buyer. A real estate agent is the perfect go-to when questions arise about the seller’s disclosure form, including how to interpret a question and give a thorough, appropriate response that protects the seller from liability.
Before & After — Updates That Make Your Home Sell
To succeed as a real estate investor, it helps to have vision — to be able to see and unearth the hidden potential and value in a home. I love helping my clients discover this vision. This is part of the journey of buying and selling a home.
In the last 20 years, I have helped design, build and decorate 17 luxury homes for personal investment. This creative process is part of what keeps my work exciting, and I am passionate about sharing this experience with my clients.
Most recently, I worked with a listing client who owns a condo in Pirate’s Cove. While the condo had great bones, we decided that a few minor updates would really attract the showings and quick sale we were after. So we got to work.
It was a collaborative effort. We chose new interior paint colors, replaced some furnishings, upgraded to flat screen TVs, and replaced decor like wall hangings, shower curtains and bedspreads. The results? We saw a pick-up in viewing appointments within 48 hours of posting the new photos.
Read on for before and after shots of the condo plus my tips for local shops and great deals on home decor!
We chose Peanut Shell by Royal Paint for the main color throughout the house. This great neutral color also gives off subtle beach vibes perfect for a vacation home. De-cluttering tables and streamlining the wall hangings created an overall more cohesive look to the open living space.
In the kitchen, we removed a dated wallpaper border and added an accent wall in Hawaiian Sunrise by Royal Paint. Beach-minimalist accessories from the Cottage Shop finish off the look.
Updated wall hangings and a beach-themed bedspread add casual charm to this master bedroom. For local shops, you can't beat Ambrose Furniture for price and selection on spreads.
A quick coat of paint and shower curtain swap make this bathroom feel more modern.
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