The economy, or lack thereof, is continuing to suppress the sale of high end properties across the Outer Bank of North Carolina. The first half of 2011 only brought out 3 brave souls in the town of Nags Head who had the courage to climb down off that proverbial fence to take advantage of the current situation with oceanfront home sales. And the advantage was all theirs. The average sale price for the first half of this year was down $38,000 from $984,000 where it was just one year ago to $946,000 for the first half of this year.
The decline from 9 sales in the first half of last year to only 3 closed transactions in the first half of this year is probably due to the uncertainty of the expense of a planned beach nourishment project. The corresponding tax increase along with the continuing bickering over the merits of the beach nourishment project created a lot of negative publicity which reflected in the the decline in sales and price in the Nags Head oceanfront real estate market. The fact that the beach nourishment project was done during this past summer season only helped to keep buyers at bay. The recently completed beach nourishment project has increased the size of the beaches throughout most of the town and these new beaches are creating some real deals for those looking for Nags Head oceanfront real estate.
If you think you might want to take advantage of historically low interest rates and discount real estate prices then try browsing through Nags Head oceanfront homes for sale and see if there is something available that might meet your needs. All of the beachfront homes for sale in Nags Head are listed here and updated daily with new listings. Find full detailed property descriptions multiple photos, tax info, size, location and more. You won’t find more accurate and up to date listings of oceanfront property for sale in Nags Head anywhere else.
Take advantage of the depressed prices and the historically low interest rates and pick up one of these deals. Loans are readily available despite what you here on TV. Summer vacation rentals are up like they always are in a recession. Nags Head is just 1 tank full of gas away from the entire northeast of the US. Historically, during a recession, vacation rental numbers go up when people start vacationing closer to home. Nags Head is close to the homes of the bulk of the population of the US.
If you are planning to sell your oceanfront home then now is a good time. There are plenty of buyers waiting for the right property to come on the market at market value. If you can price your home at market value then you can sell your property. To find out what the market value is for your OBX property call Greg Cremia at Shore Realty 800-647-1868, helping people buy and sell real estate on the Outer Banks since 1989.