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| Long-vacant
Coast Guard housing has a new owner Long-vacant housing units at former Coast Guard Group Cape Hatteras in Buxton have been sold to a Virginia Beach family-owned partnership that plans to fix them and rent them. After a nearly two-month Government Services Administration online auction, a $2,625,000 bid was accepted on Dec. 20 from Lee Pontes of Virginia Beach, manager of the acquisition group Sylakama, LLC., according to Kristine Carson, point of contact at GSA’s Real Property Utilization and Disposal Office. ....Read more |
| UPDATE:
Insurance Commissioner rules on dwelling property insurance rates North Carolina Insurance Commissioner Wayne Goodwin has ordered a decrease in fire rates and rejected an increase in extended coverage rates for non-owner occupied dwellings. ....Read more |
| Hatteras
Island Real Estate: A time to be grateful Island Free Press columnist Tom Hranicka has looked at the island’s real estate market to see what good news there might be to brighten the expectations for the New Year. He says he was pleasantly surprised to see the positive momentum that appears to be building among the major market indicators. ....Read more |
| Hurricane Irene put the brakes on
a banner year for Dare Economy Economic numbers released by The Outer Banks Chamber of Commerce offer little solace to Dare County residents and business owners, although there are signs that construction and visitation are rebounding. Occupancy rates — a measure of how many motel rooms, campgrounds and rental cottages are filled by visitors — showed healthy growth on the entire Outer Banks in July, but August and September figures reflect steep drops in visitation because of Hurricane Irene. Read the story in The Outer Banks Voice. |
| It’s
not a case of American vs. foreign workers Ocracoke business and real estate columnist B.J. Oelschlegel responds to criticism from a reader about hiring European students – legally – instead of Americans to fill her seasonal job. ....Read more Employer recounts a rewarding experience with foreign students who travel to Ocracoke for a summer of work Many employers on Hatteras and Ocracoke islands rely on foreign student worker programs to supplement their work force during the summer tourist season. B.J. Oelschlegel of Ocracoke says her experiences with these hard-working and motivated young people have been nothing but good. ....Read more |
| Commentary:
The loud sucking sound coming from my checkbook Ocracoke businesswoman B.J. Oelschlegel writes about the effect of Hurricane Irene on island business owners and puts it in perspective. ....Read more |
| Hatteras
Island Real Estate: Fall market summary The impact of Hurricane Irene on the island’s real estate market is the wild card at the present time, and the effect will be known only in hindsight. However, if the experiences of other areas of the country that have dealt with natural disasters such as earthquakes and hurricanes are somewhat valid indicators, there is reason to be optimistic that any potentially adverse effects from the storm will be short-lived. Even with the island temporarily accessible only by ferry, properties are being sold and placed under contract at a very encouraging pace. ....Read more |
| Hatteras
Island Real Estate: Anatomy of a buyer’s market, Part II There are many different ways to sift and sort statistical data. In order to get a more detailed picture of the impact of the recent downturn in the real estate market on different segments of the island’s real estate market, columnist Tom Hranicka researched the changes that occurred in the average residential selling prices of various types of properties according to where they were located in relation to the ocean. ....Read more |
| Ocracoke
Real Estate: Moving forward on travel trailers as residences The Ocracoke Planning Advisory Board continues to grapple with and make progress on the issue of travel trailers as dwellings. ....Read more |
| Hatteras
Island Real Estate: Anatomy of the buyers’ market Perhaps the most frequently asked question that my Realtor colleagues and I are asked is “How is the real estate market on Hatteras Island doing?” My answer these days is that the market for residential properties appears to have stabilized, and I am hopeful that 2011 will be the year that the unimproved lot market turns the corner. Using this response as a launching point, I thought it might be interesting to attempt to summarize the impact of the recent buyers’ market on a variety of performance indicators. ....Read more |
UPDATE: Hearing on insurance rate hike rescheduled for July 25 Insurance Commissioner Wayne Goodwin announced this week that the hearing on the rate increase to the dwelling fire and extended coverage requested by the North Carolina Rate Bureau has been rescheduled. The hearing had been scheduled for June 21. The new date is Monday, July 25, in the Jim Long Hearing Room on the third floor of the Dobbs Building, 430 N. Salisbury St., Raleigh. ....Read more Insurance commissioner visits Dare, schedules hearing on rate increase for rentals A proposal that could see homeowners’ insurance rates for rental properties skyrocket more than 20 percent has furrowed many brows on the Outer Banks, and even North Carolina Insurance Commissioner Wayne Goodwin may find it problematic. Responding to insurance experts who questioned the justification for the increase, Goodwin announced on Monday that a public hearing on the rate increase proposal for non-owner occupied residences has been scheduled for June 21. ....Read more |
| CHEC
refunds more than $5 million in sales tax to members During the last week in May, the Cape Hatteras Electric Cooperative mailed nearly 14,000 refund checks for sales tax paid by members on their electric accounts from the years 2000 – 2009, plus 8 percent interest. Refunds were first applied to any balances due and any remaining amounts were refunded to members by check. ....Read more |
| Hatteras
Island Real Estate: Frequently asked questions are answered During the summer when the island is most active, I like to publish an updated version of an article that addresses some of the most frequently asked questions that I hear from prospective buyers and sellers. Many of the issues remain unchanged, but occasionally a new question will make its way into the list. As an example, for the past two years, inquiries about foreclosures and short sales have become more noticeable. ....Read more |
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