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.