Hatteras Island Real Estate Blog

An important part of the American dream for many families is owning a cottage by the sea. We are sure there are many reasons for this dream, but we think its most basic roots can be found in our childhood memories of carefree days spent at the beach with those we loved – experiences that we would like to recreate for our children and for ourselves. The good news is that there probably couldn’t be a better time to make this dream come true.

It is no secret that real estate is a cyclical business.  There are times when market forces favor the sellers of properties and other times when circumstances favor buyers. Since the summer of 2005, we have been in a buyer’s market on Hatteras Island.  This has created an environment that makes it an opportune time for anyone thinking about purchasing a cottage or lot to turn their thoughts into action. Let’s take a look at some of the main reasons that real estate market conditions on the island are so favorable for buyers.

1.  There is a wide selection of properties from which to choose. 
2.  The purchasing environment for buyers is less stressful with fewer buyers looking.
3.  Property prices have significantly declined.  
4.  Properties can be expected to cost more in the future as prices and interest rates rise.
5.  Distressed properties represent new opportunities in the real estate market.
6.  Interest rates are at historically low levels but are increasing.
7.  Rental income can help offset the expenses of ownership. 
8.  The demographics for resort markets are very strong.
9.  The Outer Banks economy is forecast to grow in the years ahead. 

As we consider the factors that make this such a good time to be buying a place at the beach, let’s never forget those things that make Hatteras Island so special and that keep a firm grip on our thoughts, regardless of how far away we may travel.  Whether it is the windswept sand dunes, the crashing surf, or the unspoiled beauty of an island where 70 percent of the land is held in public trust, there is something that captures our imaginations and causes all of us to want to make Hatteras Island a more permanent part of our lives.

Contact us by e-mail at hranicka@hatterasisland.com if we may help you with any of your Hatteras Island real estate needs. You may also enjoy following us on Facebook at http://facebook.com/HatterasRealEstate or on Twitter at http://twitter.com/fromhatteras.

This entry was posted on Tuesday, February 15th, 2011 at 11:38 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.