To See OBX Commercial MLS and all Commercial Real Estate Outer Banks and Nags Head

Click here!

The listing auctioneer has invited The Dean Agency to represent Buyers for this Nov 25th. Anyone interested needs to contact us as soon as possible to meet our Buyer’s Agent/Client registration deadline. We will provide our buyer clients with full documentation to bid skillfully - tax, repair estimates (if any), tax values and collections, a comprehensive evaluation of market value and more. We can bid on our Buyer’s behalf in their absence under tightly controlled and documented procedures. Do not delay in contacting us. Our commission is paid by the Listing Auctioneer even though we will be working solely on the Buyer’s behalf.

689 HUNT CLUB Dr
COROLLA, NC 27927
Description
Located inside the Currituck Club, a historic private golf course community. Coastal style home with full length porches, 6BR and 3,993+/- sf, built in 2003 on 0.42+/- ac lot with a pool.

Details
The best of the coastal lifestyle, a gorgeous home with a swimming pool and outdoor shower, backing to the golf course. Open floorplan with abundant windows and beautiful woodwork. The Currituck Club is a gated community on the Outer Banks with top-notch amenities such as a clubhouse, fitness center, numerous pools, tennis courts, even a trolley and beach valet service.

The Dean Agency will act as Exclusive Buyer’s Agent

The Dean Agency will offer aggressive representation in advance of the sale to complete due deligence for Buyers.

Serious attendees should call 866 340 1166 to discuss the details.

Real Estate Auctions - What You Should Know

This past year has been a market of disequalibrium between Buyer and Seller expectations. We have written many, many lowball probing offers for wishful buyers and seasoned investors searching for that one, great “steal.” Sellers have decided in many cases to go down in flames (of foreclosure) rather than accept these offers. Banks have been the first to disappoint, holding fast to prices often set around the amounts owed. The market average of list price to closing price is still within 5-7%.

Upcoming Outer Banks Real Estate Auctions in November

We expect the Buyers we take to November’s real estate auction of bank owned property will finally get the “steals.” We also expect to see a major new trend develop if these go smoothly. For the steely nerved Buyer that can withstand the atmosphere of an auction a reward will await. Many Buyers have admitted being intimidated by the speed and finality of an auction sale - easy to understand. Contact our office to discuss what service we provide attendees to November’s auction in Corolla.

Search all current Outer Banks foreclosure listings.

We have some exciting waterfront properties currently in pre-marketing stages that are not listed yet. We welcome our clients and prospects to call the office and find out more detail anytime. We will be listing bank owned oceanfront property in Corolla, canalfront bank owned property in Bell’s Island and a foreclosure in Kitty Hawk with excellent boat access.

Buyers searching for foreclosed real estate in Nags Head, Duck, Manteo, Corolla, Currituck, Hatteras Island, Kitty Hawk, Southern Shores, Kill Devil Hills or Colington should follow the link above to search individual properties. We stress the need to familiarize yourself with the particulars of REO purchases by contact one of our Outer Banks Realtors - Anna Hunt, Adam Burkhimer or John Dean at The Dean Agency. We have prepared several informative peices for consumers that are particular to Outer Banks real estate. We lead the market in services for anyone buying bank owned real estate on the Outer Banks NC. Our expertise, training by banks and experience is an invaluable service for Buyers.

We offer service for Buyers at real estate auctions on the Outer Banks.

Adam took the average closing prices of Outer Banks real estate and the Dow Jones to see how each investment has fared in the recent economy.  Even with erosion in real estate gains Outer Banks Investment Property produced a positive appreciation rate for property owners.Outer Banks Real Estate vs The Stock Market   10/2003 to 10/2008

 ·      If you had invested in an Outer Banks single-family home between Carova and Ocracoke in 2003, your investment most likely appreciated around 6%, AND with less volatility than the stock market.

·       If you invested that same money in the stock market, it is very possible that you took a loss of 13%.

·       From 2003 to 2008, there has been roughly a 20% differential between Outer Banks Real Estate and the stock market which could mean a difference of $100,000 on your $500,000 investment!!!

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How Do Our Brokers Add Value to Your Purchase?

• Market Knowledge-We provide lenders with price evaluations on every type of property from Carova to Cape Hatteras. This is an incredible insight into pricing trends in each sub-market and property type. We have evaluated over 180 properties in 2008.

• Product Knowledge- We preview no less than 5 properties a week but often many more. These are active listings and unlisted properties owned by the banks and private individuals. We know the inventory from personal inspections.

• Process Knowledge- Bank owned properties create very unique challenges for Buyers and untrained agents. We have received many hours of lender training from large institutions such as Wells Fargo. We have received NC Real Estate Commission sponsored training on foreclosure laws and procedures. Our Buyer clients have a distinct advantage in crafting offers, negotiations and inspections.

• Craft Knowledge- Professional, full time real estate brokers never stop learning about their discipline. We read, learn and train constantly about our industry and market. There is no top to this mountain!

Call your Broker today to see what’s new!

Adam 252 256 0086 Anna 252 573 8934

John 252 207 4947

Search ALL OBX Foreclosure Listings Here.

Click Here to Search All Foreclosures for Sale in Nags Head, Duck, Corolla, Manteo, Kitty Hawk, Kill Devil Hills, Hatteras and Southern Shores.  

Yesterday we joined a group of about 30 Brokers in our area to hear a speaker and discuss foreclosure real estate and short sales in Dare and Currituck Counties. There was little difference in opinion; everyone unanimously agreed that these bank owned property sales were shaping the landscape of our market. Some other conclusions were interesting, but also predictable.

There are opportunities to be had buying foreclosed oceanfront homes and other resort real estate owned by banks, especially income producing “A” grade real estate. Several Realtors expressed frustration with buyers who have unrealistic expectations or aren’t prepared for the “process” of buying default property at the beach. Others expressed frustrations with the complications of dealing with lenders.

Let me offer a tip to Buyers considering foreclosed real estate for sale. Don’t even consider trusting your business to a Realtor who is not specially trained, duely insured and most of all, highly experienced with this most unique real estate. All the problems and frustrations expressed by the Realtors above resulted from a lack of specialization on the Broker’s part or poor preparation of the Buyer by the Broker. Our Buyers are far better prepared and every Broker in our office has received extensive lender training, and industry training to understand the navigational skills needed for foreclosure properties.

This is historically a low point for closings on the Outer Banks NC. The last three years have been the same.  

In the last 30 days 128 properties were sold in the Outer Banks NC MLS. The average days on the market for these sales was 238 days. Average closing price for these properties was $393,023, average list price $422, 159. That is 7% off list for Buyers on average. This is roughly 1.5% better than earlier sales of homes on the Outer Banks in 2008.

The 128 sold properties in the last 30 days were made up of all types of real estate; single family, commercial, condos, land and co-ownerships. The break down goes as follows:

• 17 Condo sales
• 4 Co ownerships or fractional ownership properties
• 3 commercial properties
• 22 Land parcels
• 2 Townhouses
• 80 Single Family Homes

Single Family home prices on the Outer Banks that closed in the last 30 days averaged $460,775. Average market time for these homes was 172 days. Buyers negotiated an average of 7% off the list price of these homes’ prices as well.

15 of these Single Family homes were Bank Owned real estate, or almost 19% of sold homes. These sales included every type and location of single family homes. Buyers were only able to negotiate 6% on average from the list price on these foreclosures.  

If you have google earth, click here to see various ramps and beaches designated by accessibilty to ORV. There is also other information regarding Beach Driving on Hatteras Island.

Click HERE to Search all Homes for Sale on the Outer Banks, NC 

The Outer Banks is returning to a normal market after some euphoric years. June to June sales in 2002 to 2003 was about 700 units. This year’s units sold equals 950. Our absorption rate will probably remain very close to  900 or 950 single family homes sold June to June in the coming year.

In 2004 YTD sales totalled 1904 units and in 2005 it was1992.