Steve Blaisdell ,FOC

Why are some homes selling quickly and others NOT even getting a showing? - maybe a nice flyer will do it!! LOL- I actually saw that nonsense in a real estate column recently!

Here on the Outer Banks the price of an average middle class home went from 80k to 120k in 1998 to 280k-350K in a matter of three short years !! My little home on Palmetto street was worth 80k for about 7 solid years in the 90's - then all of a sudden BANG $295,000!! Let's remember that historic appreciation in real estate is 6 to 8% . This is reality - THAT other thing was a very quick dream - or a nightmare for some.

One reason The Outer Banks market has a higher than normal absorption rate is because we are primarily a second home market. The real reason is that so many people are stuck in that fantasy price and trying to sell in a brutally real market. Buyers want value and when they see it they are buying without flinching.

Why would they buy an investment property that is only grossing 5% ?? The answer is .. real investors only laugh at this nonsense. This correction has been more painful than the last but consider the huge appreciation in only a few short years. It only makes sense to go back and remember the reality price of your home in 1999 or 2000 and then compare to where you are priced today. Are you at $350,000 when similar homes have sold recenlty for $265,000?? BUt ,but what about my granite & tile ??? SORRY maybe you can get $270,000 then. Most likely it will be $265,000 with the granite helping you up from $260,000- remember the market is moving and prices are declining still.

While we are going through this market correction and waiting for prices to find their way to buyers reality price -Find an agent with skills and listen to them about price. If your sales person has not been trained and is not constantly honing their skills then maybe there is grass growing under his/her feet while your home collects dust on MLS. If your agent does not think of him or her self as a trained salesperson then RUN quickly to the nearest trained SALESPERSON and list your home with them!

An agent with skill is one that is actively beating the bushes for buyers for your listing. These people are highly trained on every script and dialog that can occur in real estate buying and selling. I would rather have an agent that as spent some time and money learning SALES skills than the guy that has billboard and bus bench ads . Why? - usually(not always) these Billboard agents are more passive and are hoping to BUY business through what they call marketing.

In reality most of the homes that are selling in this market are sold before they even have time to get into print ads. Why??? because the sellers are reading the market stats with the help of a professional , jumping out ahead of the declining price curve and SELLING that home. It is as simple as 123.

Check out this Myers BarnesVideo about the market - he was my first coach & he tells it like it is.

If you are having trouble getting your home sold ... Call me today , we will look at market stats and use them in your favor before you ride this curve ALL the way to the bottom. Visit me @ Beachhouseouterbanks.com

If you are an agent wanting to brush up on your skills - then go to you tube and check out myers' free videos!

Historic Manteo is by far the coolest little Coastal Town in Northeastern North Carolina. There is an abundance of shopping,coffee shops, book shops, entertainment , watersports , fishing or just plain walking tours of Historic down town. When you come for a visit do not forget to check out the Lost Colony!

Baby boomers are popping up as new residents all over town. Some retiring early and some good and ready to settle in to coastal living at it's finest but using their new homes for weekend getaways until the time comes. Some are pleasantly surprised when they find that their new neighbor has a soft shell crab operation right in the back yard . Others are attracted to the abundance of the Arts here in Manteo - the county seat of the Dare county Arts council. Others love the history , some are looking for pirates treasure!

It almost feels like Mayberry, in fact if you close your eyes and concentrate you can hear Opie whistling that may-berry tune. There is little doubt that Manteo will be THE hottest real estate micro market on the Outer Banks soon. With everything at walking or biking distance it will become hard to leave this little sanctuary once you get settled in.

This is the perfect place to settle down and Cedar Bayhas been the overwhelming best seller in the town of Manteo in the last year. We have outsold our competition by 300 to 400% the number of units sold. One local condo/ single family development has sold one to our 4 for the year of 2008. Our competition is tight and we have noticed the other developers hanging around our neighborhood snooping! LOL- just kidding...actually we have noticed they have followed our lead on good pricing and we wish them a great 2009 selling season. One of our competitors has recently hired one of the most powerful sales managers in the industry! I'm sure that costs a pretty penny and will likely cost you as a buyer as well! Be careful and make sure you shop the whole town to see what suits your needs and your budget.

There are several reasons that Cedar Bay is so attractive - one is price and another is the tranquil location. We are located due west of the Historic Waterfront less than a mile . Our site hugs the 100 acre County Parcel soon to become a new sound front park! We are less than one minute driving from the US Fish and Wildlife boat ramp and we have four available marsh front westerly sound view lots available-not to mention the style and quality of construction. Make an appointment to visit our site and ask for a free Magnolia Grille or Front Porch Cafe gift card.

If you are interested in Cedar Bay or anything Outer Banks give me a call . If you are a Realtor in DC area , Northern Va or anywhere in the northeast this is a no brain-er for your best clients - send me an outbound referral today - I will start sending checks $$ your way soon!

Opportunity is at an ALL TIME HIGH!!- turn off the boob tube and come out to the beach and visit me!!

Cheers to a great 2009!

January closes out on Outer Banks with 62 single homes under contract for the month. There may be a few that went under contract this weekend with paperwork pending.

There are currently 1997 single family homes on MLS - this means there is a 32 month supply of homes on the market as of today. There were 42 new listings posted over the weekend. Our absorption rate is three times the national average - Buyers delight!

34 single family homes closed in the month of January with seven of those being REO's. This means that REO's accounted for 20% of the market for January. Lets all get out there and sell these REO's and short sales -the faster we do it the quicker our jobs become less hectic and more predictable.I know these are a pain in the Arse but somebody has to sell em. Let's get back to doing business with real estate pros instead of bankers- It is amazing to me that the investors actually have banks handling these -I will save that mess for another post

Now is showtime on the Outer Banks- I see an uptick in January on units U/C from the last three months- We have about 4 months before it starts to become difficult to show property . Units sold always dip slightly during high tourist season - no reason for us to slow down as salespeople - just an observation.

If you have sellers that are not priced out ahead of the competition and ahead of the declining curve - DO NOT feel guilty about sliding them to the back burner as long as you have supplied them with the facts showing them how much money they are losing each month--(about 1 to 1.5%) depending upon the sector of the OuterBanks market. Go out and find sell able listings - they are our there! OK we all have a few that get decent sign calls- still no need to waste time on pie in the sky pricing. Plant the sign and thank the Lord for the calls then go get one that will sell.

If you have qualified buyers that are still waiting to catch a falling sword - they may be greedy or just plain uninformed- sort through them and move on . Don't forget to remind the pole sitters that pigs get fat and hogs get slaughtered! Keep these buyers around but you must move on don't waste valuable time on them- ... you may have to sort through three times the amount of qualified leads than you did back in 2004 before you get someone worth hauling around or wasting good listings docs on- Do not grow weary - in due season you will reap a harvest!!

Have a great selling season. Opportunity is at an all time High!

Steve Blaisdell puts the REAL in Outer Banks Real Estate