Duck pedestrian Trail | Beach re-nourishment | Spring on the OBX
 
 
Spring has sprung on the Outer Banks and everyone is busy gearing up for another busy rental season. Homeowners are making last minute spruce-ups to rental properties and locals are in the midst of preparing for the tourist to arrive. We've been enjoying some gorgeous spring weather and pollen levels are beginning to subside. Hopefully you'll get to enjoy the weather during spring break too!
 
The town of Duck is making steady progress on the Phase II of the pedestrian plan . It is still on track to be completed in May. The Town of Southern Shores is exploring beach re-nourishment in conjunction with other towns for 2022. Portions of the Southern Shores beaches have eroded and while there isn't an erosion problem, being proactive is appreciated. Our beaches are our most valuable resource after all.  The new fire houselocated on South Dogwood Trail just across from Kitty Hawk Elementary is now underway. No road closures are expected.  
 
In Real Estate News , the market for year round mid priced homes remains strong. We have seen a bit of a slow down in the higher end, investment sector. Below is our by town update:
 
Southern Shores:
59 residential listings
18 currently under contract
23 have sold year to date with an average sale price of 92% of original asking price and 143 days on the market.
 
Duck:
121 residential listings
23 currently under contract
36 have sold year to date with an average sale price of 92% of asking and 161 days on the market.
 
Corolla:
295 residential listings
42 currently under contract
61 have sold year to date with an average sale price of 93% of asking price and 113 days on the market.
 
Martin's Point:
14 residential listings
3 currently under contract
7 have sold year to date with an average sale price of 89% of original asking and 178 days on the market.
 
Kitty Hawk:
64 residential listings
19 currently under contract
28 have sold year to date with an average selling price of 92% of original asking price and 112 days on the market.
 
Kill Devil Hills:
169 residential listings 
52 currently under contract
65 have sold year to date with an average sale price at 93% of asking and 107 days on the market.
 
Nags Head:
183 residential listings
32 currently under contract 
39 have sold year to date with an average selling price of 93% of asking price and only 90 days on the market. 
 
If you have any questions about buying or selling on the Outer Banks, please be in touch! We would love to help! 
 
Mid Currituck Bridge Project Update:
 
 
The Federal Highway Administration’s  Record of Decision for the Mid Currituck Bridge which will connect mainland Currituck to Corolla, also in Currituck County, was received on March 8, 2019. This decision  allows NCDOT and the Turnpike Authority to move the project forward and begin obtaining land needed for the project’s right of way, to obtain environmental permits and advance construction plans. While the decision is a major milestone towards the construction and completion of the bridge, there are still hurdles in moving this project towards a reality. The Southern Environmental Law Center (SELC) claims that NCDOT and the Turnpike Authority are required under federal regulations to update the  environmental impact statement , or EIS, that was completed in 2012 because it is based on outdated information. SELC states they have asked NCDOT to prepare a Supplemental Environmental Impact Statement, which they state is legally required because of various changes including environmental and population estimate factors that have occurred since 2012, and because the documentation is outdated and inadequate. The SELC states If the Department will not prepare the updated impact statement they will be forced to take legal action on behalf of their clients, the NOMCB (No Mid Currituck Bridge group) and the Wildlife Federation.
 
The law center has 150 days from the record of decision, or until Aug. 5, to file a legal challenge.
 
 
 
 
Outer Banks Upcoming Events:
 
Sunday, April 14th Outer Banks Flying Pirate Half Marathon & First Flight 5k. Visit Outer Banks Sport Events website for more details at  obxse.com 
 
April 20th-28th 17th annual Outer Banks Bike Week. Sponsored by Outer Banks Harley Davidson. 
 
April 28th 12-3pm OBX Taco Cook-Off. This tasty event will take place at Ortega'z in Manteo.
 
May 3rd 9:30-12:30 12th annual KidsFest 2019 will be held at Roanoke Island Festival Park. This is Free event that focuses on preschool aged children. It is lots of fun for kids and their families. 
 
June 2nd 11am till 5pm and again on September 8th, The Outer Banks Food Truck Showdown. This delicious event is taking place at the Soundside Event site in Nags Head mile post 16.5.
 
June 8th and 9th, Outer Banks Tiny Home Festival. Also taking place at the Soundside Event Site in Nags Head from 10-6 both days.  
 
June 18th and 19th, Under The Oaks Art Festival to be held at the Whalehead Club in Corolla. The event will be open from 10am until 5pm both days.  
 
 
 
Mortgage update
Liz Pritchard - Movement Mortgage:
RATES REMAIN LOW, A POSITIVE OUTLOOK
 
The 30-year fixed-rate mortgage rate dropped a whopping 27 basis points this week. That’s the biggest decline in rates since 2009. As of this morning, the 30-year fixed rate average from Freddie Mac is sitting at 4.06 percent. A year ago at this time, the average was around 4.40 percent. There is a positive outlook for the housing industry this year. As we are now hitting stride in the spring buying season, it will be interesting to see how March’s numbers shake out with interest rates as low as they are right now. The mixture of low rates and the option to put 10% down on a second home may have the market blooming this spring!
 
 
Liz Pritchard  |    Loan Officer
NMLS  1767063
  Office   (252) 564-5023
2400 N. Croatan Hwy
Unit B & C 
Kill Devils Hills, NC 27948