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Archives for December 2012

Flood Insurance Legislation on the Outer Banks

Flood Insurance Legislation Vacation and second homes on the Outer Banks may see higher flood insurance premiums if the subsidies provided by the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) are discontinued. The new rates will reflect the full flood risk of an insured building, and some insurance subsidies and discounts will be phased […]

November Market News on the Outer Banks

November 2012 MLS Report The Outer Banks Association of Realtors® has released their monthly housing report for November and it’s pretty much what we expect this time of year. Residential home sales are down this month. Summary – October and November were good months for sales on the Outer Banks but now the seasonal downturn […]

Luxury Homes and Jumbo Loans

Would you believe that Jumbo Loans are helping drive the real estate recovery? According to a recent article in the Wall Street Journal, “Home sales using a jumbo mortgage had year-over-year growth of 7.9% through September, compared with 2.7% for nonjumbo sales.” In other words, metro home sales of over $1+ million were 28% higher […]