Outer Banks named among Top 10 beaches in US

US News & World Report's is out with their Top 10 beaches in the US.  A great thing for the Outer Banks is that it came in 5th of all beaches in the US. 

USN & WR - Top 10 Beaches in the US

1. Maui
2. U.S. Virgin Islands
3. Hawaii - The Big Island
4. Honolulu - Oahu
5. Outer Banks
6. Miami Beach
7. San Diego
8. Fort Lauderdale
9. Myrtle Beach
10. Los Angeles
    

Foreclosures slow nationwide

Here is an interesting article about the state of foreclosures across the US. Like Florida and the Ft. Lauderdale area, we should continue to see foreclosures come on the market just not at the rate of previous years.

Foreclosures slow to trickle as lenders shift strategy

Corolla Market Report for July 2011

Here is a great video and graphs from the Corolla real estate team.  Any questions on buying a home in Corolla, call us at 866 777 3948.  This is just a new way to present information on Outer Banks real estate and additional market reports. 

You can find more videos on our Youtube Channel, Red Sky Realty Group Facebook, Red Sky Realty Group Twitter. 

Outer Banks Foreclosures Market Report - August 9th 2011

Good morning from the beautiful Outer Banks.  Today's foreclosure update is being made from hot and sunny, Corolla. 

Our Outer Banks foreclosure specialist reports 37 foreclosures in the Outer Banks.  Prices are currently ranging from under $50,000 to just over $1,000,000.  The foreclosure team at Red Sky Realty Group is knowledgeable on handling all size foreclosure transactions.  

If you would like more information on buying an Outer Banks foreclosure, give us a call at 866 777 3948. 

Fall Buying Season in the Outer Banks

From Daniel O'Brien at the Corolla Resort Homes Blog

Now is the time if you're serious about buying a property this year.  With a little over a month before Labor Day you still have time to plan a home buying trip to Corolla for Fall 2011.  As the summer vacation season ends it becomes much easier to schedule viewings of the properties you are interested in.  So Register Now and we'll help you find the perfect property.

Then start looking through some of the premier Corolla communities: The Currituck Club, Corolla Light, Pine Island, or Buck Island to name a few.  Our agents are happy to assist you in all steps of the home buying process.

Give Daniel, our Corolla Homes Specialist, a call at 252-489-6738

Life on the 4wd beaches of the Outer Banks

Red Sky Realty Group team member Dee Taylor sent in these great pictures of several wild horses going about their day in Carova.  Life among the wild horses is a benefit of owning a home on the 4wd beaches of the Outer Banks. 

See the full gallery on Posterous

Commonly Asked Mortgage Questions

Our Outer Banks foreclosure specialist Dee Taylor sent in this useful question and answer with local mortgage broker, Jennifer Keenan. 

Mortgage Question and Answer with Jennifer Keenan

Direct:  757.605.4641

Mobile:  757.272.4199

jkeenan@oldpointmortgage.com

www.oldpointmortgage.com

• If I have an FHA loan, how long do I have to keep the mortgage insurance?  Mortgage insurance must be maintained on an FHA loan until your loan-to-value reached 78% (from purchase date) or 5 years, whichever is longer. 
• If I have a conventional loan, how long do I have to keep the mortgage insurance?  A minimum of 12 months, but two ways of removing mortgage insurance on conventional.  The client can order their own appraisal, if the loan is at 80% of value, mail that into the mortgage servicer and request the mortgage insurance be dropped.  Or, the servicer is required to drop the mortgage insurance at 78%.
• The VA program has no mortgage insurance?  That is correct.  VA charges a funding fee that can be added into your loan amount.  There is no monthly mortgage insurance.  Funding fees are 2.15% for first-time use and 3.30% for subsequent use. reduced with down payments.  If a veteran is deemed 10% or more disabled by VA, the funding fee may be waived. 
• What about the USDA Guaranteed Rural Housing Program, do they charge mortgage insurance?  No, USDA operates much like VA.  USDA charges a 3.500% guarantee fee, which can be added into your loan.  There is no monthly mortgage insurance. 
• What is one thing that is new or enhanced about mortgage insurance?  Well, you can now obtain mortgage insurance on second home purchases up to $417,000.  We used to suggest people broke down their purchases into 80% first mortgages with the balance (5-10-15%) on a home equity line of credit, called a "piggyback".  This was all done to avoid mortgage insurance.  Today, it is difficult to find a bank that will loan in excess of 85% total loan-to-value, but mortgage insurance companies will now go to 90% on the purchase of a 2nd home!  So, the next time someone asks you how much they would have to put down on a property, you can once again say with confidence, 10% on a second home. 

Foreclosure - 751 Plover Court

If you are in the market for a Corolla NC foreclosure, 751 Plover Court is a 6 bedroom Ocean Sands home with lots of rental potential.  In addition to a well situated floor plan, 751 Plover Court has a in-ground pool and elevator.

Whether you are looking for a vacation or investment home in Corolla, this home has potential for all.  For additional information on this excellent opportunity, call us at 866 999 3565 or 751 Plover Court.

 

See and download the full gallery on posterous

Corolla, North Carolina Bank Owned Homes - Market Update

The Red Sky Realty Group, Outer Banks Foreclosure team, is currently following 12 available bank owned homes in Corolla.  Our team is finding an attractive price range from $245,000 to $799,000. 

None of the homes have been on the market for more than 157 days.  One home was added as recently as 2 days ago.  One you are in the market for a Corolla foreclosure give our team a call at 866 777 3948. 

One of a kind home in Southern Shores

116 Tea Plant Court, Outer Banks MLS #68000, is an amazing find in Southern Shores.  6 bedrooms on a quiet street including theater room and beautiful outdoor pool area. 

Home is priced to sell....for more information on this home call us at 866 777 3948. 

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Great Buys in The Currituck Club

Here are 2 homes in The Currituck Club, 830 Hunt Club Drive and 617 Hunt Club Drive, priced well below their tax assessed values.  Both homes have been on the market for less than 40 days.

For more information on either opportunity contact our OBX foreclosure specialist Dee Taylor at 866 777 3948.

Start your search - The Currituck Club Homes for Sale

See and download the full gallery on posterous

Outer Banks Foreclosures - Kill Devil Hills Market Update

Kill Devil Hills Foreclosure Market Update

We are continuing to find Outer Banks foreclosures to be excellent deals.  The town of Kill Devil Hills currently has 13, REO or bank owned properties, for sale.  Prices currently range from $99,900 to $367,500.  The average Kill Devil Hills foreclosure has been on the market for 57 days with the longest being on the market for 167. 

(Bank owned properties often sell quickly....if you are serious about buying a home, it is worthwhile to be pre-qualified before starting your search.)   

If you are in the market for a foreclosed home in Kill Devil Hills, you can speak with our Outer Banks foreclosure specialist Dee Taylor at 866 777 3948.

Cash buyers to affect Corolla real estate?

The Wall Street Journal has a interesting article on real estate nationwide, Cash Buyers Lift Housing.  The author of the article goes on to show, "Nationally, 28% of sales were all-cash transactions last year, according to the National Association of Realtors. The rate was 14% in October 2008 when the trade group began tracking the measure."

The national trend is also being felt in our local North Carolina real estate markets.  From Greenville to Elizabeth City and the Outer Banks, cash buyers continue to snap up excellent opportunities in the real estate market. 

We continue to find an increased number of cash deals along the Northern Outer Banks, Corolla and Duck.  This would fit the trend the Wall Street Journal has reported about. 

Reprinted with permission from the Red Sky Realty Group Company Blog

Life in The Currituck Club

The Currituck Club is one of the finest resort communities along the Outer Banks.  World-class amenities set, The Currituck Club apart from many other communities. 

The amenities at The Currituck Club include a fitness center, trolley service, beach valet, 7 tennis courts, a number of outdoor pools and more. 

Learn more about buying and owning a home in The Currituck Club
Call a Red Sky Realty Group agent at 866 777 3948

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Your home for Greenville NC real estate - Red Sky Realty Group

If you are looking for a home or real estate in Greenville or Pitt County, the team at Red Sky Realty Group has you covered.  You can start your search for a home on the Greenville - Pitt County MLS. 

Greenville, North Carolina is one of the fastest growing locales in North Carolina.  We at Red Sky Realty Group are pleased to be able to service the Greenville, NC real estate market. 

This Kill Devil Hills home has it - Location!

If you are in the market for a 3 bedroom Kill Devil Hills home, look no further.  This home is in great condition and offers an even better location. 

Outer Banks Realtor Dee Taylor :
This is the home you have been waiting to become available.  Located on popular W. Eden Street, this home offers 3 bedrooms and 3 baths.  There is a 1st level office and game room with TV and sofa.

For more information on this home call us at 866 777 3948
- Red Sky Realty Group services Corolla to Ocracoke

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Kill Devil Hills home for sale - Pine Grove Trail

Great home and location!  This 4 bedroom Kill Devil Hills home is located in the quiet neighborhood of Whispering Pines.  Enjoy life at the beach at the pace of the country.  For more information on the home call Dee Taylor at 866 777 3948.

Dee's notes on the home:
The PERFECT beach box home! Can be used for second home or place it in a rental program.
Warning: This home is so nice you will want to keep it all for yourself!!!

There are 4 theme bedrooms and 3 baths, the kitchen, dining area and family room is open and inviting on the second level. In the evening relax on the second level deck in your OBX home!

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Waterside Villages of Currituck - Clubhouse

One of the highlights of life on Waterside Villages is the expansive clubhouse available to home owners. The clubhouse includes a pool table, flat screen TV, and commercial sized kitchen space. For more information on the homes available in Waterside Villages visit: http://watersidevillagesofcurrituck.com

Short Sales in the Outer Banks

A few changes in December, by the US Treasury Department look to make buying and selling short sales easier.  Overall, it will be quite interesting to see how, the rule changes will affect our local Outer Banks market for short sales.  Short sales in the Outer Banks continue to be behind the purchase of foreclosures. 

For more information on the rule changes see, Treasury relaxes rules to free-up HAFA short sales.

To learn more about short sales or foreclosures in the Outer Banks contact Dee Taylor, the Outer Banks Short Sale/ Foreclosure specialist at 866 777 3948

Corolla North Carolina Foreclosure for Sale

Here is an excellent opportunity to purchase a Corolla North Carolina foreclosure.  This beautiful home is located in The Currituck Club. 

At this price its not going to last.  For more information, 830 Hunt Club Drive.

See and download the full gallery on posterous