When built in 1963, the Bonner Bridge over Oregon Inlet had a life expectancy of 30 years. Efforts to replace this vital link to Hatteras Island have now been going on since 1993 for an unbelievable 17 years! A seemingly never-ending series of studies, environmental issues, and administrative delays have repeatedly held up construction. Details [...]
With the summer season officially starting this month, we thought it might be interesting to check the status of the island’s real estate market. We are pleased to report that residential sales have been significantly higher (+47.2%) during the first five months of this year compared to the same period in 2009. In addition, the [...]
This post is an update of information concerning the proposed wind turbine pilot project in Pamlico Sound and the significantly larger potential wind turbine farm that could ultimately be built. These projects are important to Hatteras Island residents and visitors for several reasons, some financial and others that relate to the quality of life on [...]
Recognizing that the first quarter is usually one of the slowest times of the year in the annual cycle of the Hatteras Island real estate market, it is encouraging to see that 2010 is off to a good start. While the final first quarter numbers for this year will not be available for a few [...]
On Friday, September 25th, residents of Hatteras Island attended a public meeting at which North Carolina Governor Beverly Perdue, State Senator Marc Basnight, State Representative Tim Spear, a panel of scholars, and an executive from Duke Energy presented research supporting the construction of a wind turbine farm in the Pamlico Sound west of Avon, Buxton, [...]
As the year progresses, there are very encouraging signs that the real estate market on Hatteras Island may be on the road to recovery. Consider these market indicators:
Average selling prices are moving closer to the historical growth curve that we saw prior to the boom years.
The supply/demand curves are starting to trend slowly toward each other [...]
As you may recall, earlier this year there was quite a controversy concerning changes in homeowner insurance rates, deductible amounts, and surcharges that the North Carolina Insurance Commissioner approved for policies written in the coastal counties. Thanks in large measure to the combined efforts of the Dare County Attorney and the Government Affairs Director for [...]
When studying real estate market indicators it is easy to research and report the statistics. It is much harder to try to understand and interpret the data that we are seeing. The 1st Quarter of this year is a classic example of this challenge. Here are the raw numbers comparing the first three months of [...]
Good News! We received an e-mail last night indicating that a stay has been granted on the Beach Plan surcharge increases and deductibles that were approved on November 21, 2008!
On March 20th, Wake County Superior Court Judge William R. Pittman granted a Motion to Stay the November 21,2008 increases in homeowners’ insurance deductibles and surcharges under [...]
Significant changes in homeowner insurance rates, deductible amounts, and surcharges have been approved by the North Carolina Insurance Commissioner. If implemented as approved, the revisions will substantially increase the cost of homeowner’s insurance coverage provided by policies written through the Beach Plan. These modifications are being challenged at both the legislative level and in a [...]
