Current Mortgage Market Trends

One can’t turn on the news these days without our focus being drawn to current mortgage market conditions. Many of these issues, including jumbo loans, negative amortization loans or “option arms,” and variable rate loans are directly impacting Outer Banks owners. If faced with an adjustable rate payment set to increase dramatically in the coming months,  owners usually have 3 options: (1) pay the higher monthly payment, (2) refinance, or (3) sell the property.

Our sales agents have established relationships with local lenders who may be able to advise you on how to maneuver your way past these challenges.  If selling becomes an option, we are happy to provide you with in-depth information on current market conditions in your specific area. Our sellers currently face a difficult buyer’s market, but sales in 2007 have increased for those owners selling a property in top condition and priced aggressively to sell.

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Haunted Outer Banks Happenings

On Thursday, October 25th from 6:00 p.m. to 8:30 p.m., a very popular and well attended function celebrating family fun at Halloween time happens at the North Carolina Aquarium on Roanoke Island in Manteo, North Carolina. Enjoy fun and safe activities under the sea with crazy costume contests, scream contests, crafts and activities.  Tickets are sold in advance. For more information, please contact the aquarium at (866) 332-3475.
Beginning Friday, October 26th , travel north on the Outer Banks for the 4th Annual Haunted Corolla Village.  Take a hayride tour from the Wildlife Education Center at Currituck Heritage Park to the old Corolla Schoolhouse to be entertained with stories from the past.  From there, ride on to the Currituck Beach Lighthouse and end at the Whalehead Club where you are invited inside the basement… The tours start at 5:30 p.m. each evening and the last tour is booked at 8:30 p.m. Tickets for the hayride are $6.00 per person. For more information, call 252-453-9040.

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Off-Season on the Outer Banks of North Carolina

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If your vacations have always been scheduled for the summer months, you may want to re-consider vacation time in the off-season on the Outer Banks of North Carolina.  The crowds have gone home, life is more laid back and many times you will find yourself on the beach alone…  The vacation rental homes are priced right for a spontaneous getaway for a week or just a few days. 

Stay in a Carolina Designs Realty premier vacation rental home for a partial week rental – a three day minimum.  Give us a call the week that you plan to arrive and you will find that we have a vast selection of home that will meet your need to get away from it all.  Refresh your mind by taking a short retreat with perfect weather in the 80’s, no traffic, long lines, or hassles.  Most would consider this as one of the best kept secrets about the Outer Banks, but the cat’s out of the bag now!

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Outer Banks of North Carolina: Priced Right for Life After Work

According to Time Magazine, September 17, 2007 issue in the Life After Work section, Dan Kadlec listed the Outer Banks of North Carolina as one of the regions that home prices are very attractive to consider making an investment on a rental home with anticipation of retiring in the home at a later date.  Buying now while home prices and mortgage rates are low allows you the flexibility to buy it now, see over time if this is where you will desire to be when you retire.  It will also be a retreat for your family to meet after everyone has grown up and gone their own way.  Over time, prices will begin to go up again – real estate is and always has been cyclic.  Jump while the iron is hot!

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