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Outer Banks Real Estate - Tips on Buying Outer Banks Real Estate WHAT YOU’RE NOT HEARING ON THE NEWS… Well, if you’re like some people, you’re glued to the TV and wringing your hands, wondering where it will all end. Meanwhile, there are a number of buyers who are getting some great deals on property here on the Outer Banks. I closed more sales in September than any other month in 2008. And October has started off with a bang, as I’ve already put one home under contract… Here’s what you’re not hearing on the news: If you have good credit, cash for a down payment and meet lending guidelines, banks are happy to lend to you. Thrilled, as a matter of fact. The loan process is smooth, and for my buyers at least, pretty darned fast. Most of my transactions are closing in just two or three weeks. Property here IS selling. It will sell, when it is priced right. There is a great deal of interest here, with plenty of buyers on the beach. Values abound, as prices have fallen and interest rates are favorable. Buyers who believe that right now is the time to move forward are striking some excellent deals… Many buyers are poised to enter the market in November, right after the presidential election. If just half the buyers I’ve spoken to in the last three months move forward, we’re going to have a very big fall on the Outer Banks… For those who are waiting for some sign that now is the right time to buy, I’m sorry, but you’re not going to get that sign. Oh, the signs are really all around you, but they aren’t what you think, that’s why you’re missing them. The right time to buy is when others are selling. The right time to buy is when others are afraid to. It’s just that simple. Real estate has led our country out of one recession after another, and it is real estate that will lead our country out of this recession as well. I’ve been saying all year long that building costs are down and lot prices have plummeted. For those who have been listening, they are reaping the rewards. I have two clients presently building homes, and they both received an appraisal that was significantly higher than their cost to build - more than 10% higher! Whether you choose to buy a lot and build, or purchase an existing home, know this: Your real estate purchase is not just making your dreams come true; it’s contributing to the economy as well, and that’s a much-needed contribution, folks. Your real estate purchase can make a difference. Who remembers the dot com stock market crash? Who recalls how many boomers sold their stocks, ran down to the Outer Banks and looked to real estate to make them whole? Who remembers how rapidly the real estate market took off then? What's happening now is similar to what happened then. There's a changing of the guard occurring: stocks soared as real estate floundered, and now stocks are plummeting and... My guess is it won't be long before real estate begins turning around, as once more, disgusted boomers will see real estate as a better investment than stocks... OCTOBER 5, 2008 - Another satisified client! "We just purchased our beach house September 29th. "Holleay helped us tremendously. She worked very hard in finding us "THE" house. She would not let us settle for anything less. "Holleay will find "THE" house for you, too, without pressure... "She was extremely helpful throughout the contract process, from making the offer through the settlement, which we accomplished in just two weeks! "You will not find anyone who will work as hard for you as Holleay Does. You'll find yourselves, just as we did, thinking how fortunate you are to have her as your agent. "There are no words for us to express our good fortune to have found Holleay." - Bob and Judy Knaub Duncannon, PA THE ONE QUESTION SMART BUYERS ALWAYS ASK WHEN DETERMINING WHICH AGENT TO WORK WITH There are many questions buyers can ask agents as they are determining who they believe will work hardest to promote their interests, but most of these questions won’t help them with their decision. Because most of the questions buyers ask agents are agent-centered, instead of buyer-centered. Here are some examples of questions that are often asked, that simply aren’t the right question to be asking: “How long have you been in the business?” The assumption here is that the longer you’ve been at the job, the better you have become at it. That’s a huge assumption. I once knew two partners who had been paperhangers for 10 years. Then one day, they simply quit. After 10 years! The next time I ran into Jackie, I asked her why. The answer she gave me has stayed with me. Jackie said, “We got tired of wondering when the next phone call would come, where someone would complain about their new wallpaper falling off the wall.” Clearly, years of experience does not necessarily a good paperhanger make…or a good real estate agent, either. “Is this your full-time job?” Again, the assumption is that if you can make enough money at it full-time, that you’re a good real estate agent. This is the wrong question to be asking. First, what you consider to be a good living and what the agent considers to be a good living may be two very different numbers… But once again, even if the agent is making plenty of money, this doesn’t tell you the one thing every smart buyer wants to know. And there are lots of useless questions like these. Questions like “How many transactions have you completed this year?” and “How much volume have you sold this year?” are both hinting at the same thing: Again, the assumption is that if you’ve done well for yourself as an agent, that this automatically means you’re going to be a great buyer’s agent. All of these questions are agent-centered. None of them speak to what smart buyers want to know. Here’s the one question smart buyers ask, every time: “What is your sold price to asking price ratio?” This one question tells you the whole story, folks. It’s the only question that will help you find the best buyer’s agent. Why? The answer is simple. This question is buyer-centered. This question is performance-centered. This question is really asking: “Are you an excellent negotiator? Are you someone who can structure a deal to save me money? Are you good at the back and forth during negotiations? Are you tenacious in wanting to strike the best deal for me?” The sold price to asking price ratio is a statistic. It tells you precisely how that agent has performed. It reveals accurately their ability to negotiate. It shows you exactly how tenacious they are in striking the best deal. And the lower the ratio of sold price to asking price, the better their performance, and the more money they have saved their buyers… Most agents are closing properties around 95% of the asking price. Some of closing at 92-95%. In 2008, I am closing at 82.5% of asking price for my buyer clients. After you ask an agent that question, be sure to ask them to show you their closed sales… You want to see just 4 pieces of information: Asking price/Sold price/Sold date/Selling agent The asking price and sold price are pretty obvious. You want to see the sold date on each transaction to make sure the agent is showing you 2008 sales only. Those sales are the only ones that are relevant. Everything else is ancient history. You want to see the selling agent’s name on each transaction to make sure the agent is showing you 2008 sales that they have actually closed, and not some other agent in their office, or even another firm’s office. Be a smart buyer. Your hard-earned money is at stake, folks. You deserve to be working with the best agent. Why settle for anything less? And now you know the right question to ask. Looking for Outer Banks real estate? Search the entire Outer Banks real estate mls, by clicking the link in bold! Search the Outer Banks mls for Outer Banks homes for sale, Outer Banks vacation rental homes, and Outer Banks investment properties including Outer Banks oceanfront condos. The outerbanks mls even includes commercial properties for sale. And be sure to visit my Featured Outer Banks real estate . I may have an Outer Banks property featured that is perfect for your needs. Need local Outer Banks real estate information? I've summarized much of what is important for you to know about the Duck, Corolla, and Outer Banks real estate market on this site. In addition, I have some excellent offline tools that are very helpful to use in conjunction with your online search for Outer Banks real estate. My complimentary Outer Banks real estate Buyer's Guide is full of information that will put these internet listings in perspective for you. Your Outer Banks real estate purchase is as unique as you are. The type of property you're looking for, and your reasons for owning Outer Banks real estate are as individual as your fingerprint. That's why searching the Outer Banks mls for the right property is like trying to find a needle in a haystack. Instead of searching for the right property, search for the right Outer Banks real estate agent. The mls can’t provide you with the information you need to determine whether a particular property is right for you, but the right Outer Banks real estate agent can. My focus is always on you: your wants, your needs, your investment goals, and your dreams. I focus on identifying opportunities in the various parts of our market, and keeping my finger on the pulse of changing market conditions. I build confidence and trust in my clients that result in relationships which continue to thrive to this day, years after their first transactions. The approach I take is pretty direct. I provide the information to assist you in making an intelligent and informed Outer Banks real estate decision. While I’ve never known a buyer who didn’t at some point in the process experience a twinge of second guessing, I am proud to say that my clients tell me over and over again just how surprisingly pleasant and stress-free their transactions were. I’ve told buyers who were already prequalified and anxious to buy that I hoped they would decide to wait another year before moving forward. I’ve told more than a few sellers at various points in my career that unless they really needed to sell, that I hoped they would wait to list their property. My goal is to build a relationship that will last for years; if I think we're moving too fast too soon, I'm going to say so. You see, this isn’t about me. It’s about you. Real estate transactions rarely proceed without some hiccups along the way. Usually, that comes as a shock to buyers and sellers, but a seasoned professional learns to expect the unexpected and to successfully resolve all issues along the way. That’s why it’s so vitally important to deal with a top producing Outer Banks real estate agent. Other agents do not possess the experience or the skills needed to handle the situations that inevitably arise. This inexperience may result in a transaction failing that otherwise would have closed. Most buyers and sellers believe that every Outer Banks real estate agent is alike. Think about that for a moment. In your town, do you know of a plumber who is simply an exceptional service provider? He shows up on time, goes right to work, knows what to do, and fixes the problem the first time. And, can you think of a plumber that you wouldn’t call, even if your faucet was actively leaking? It’s the same way with Outer Banks real estate agents. Some agents are just better than others. And the really rare ones not only know the market and have exceptional negotiating skills, they genuinely enjoy spending time with their clients and view them as friends. As you search online, what criteria are you using to find the right Outer Banks real estate agent to handle your transaction? Are you attracted to the prettiest web site, or the one that is the easiest to use? Do more links to area resources determine who you will work with? Do you believe that a native can best serve your needs? Should you trust your real estate purchase to someone whose father has a real estate business? There are so many agents to choose from. How do you determine which Outer Banks real estate agent is right for you? When you are faced with an important decision, you do your research and you determine who the very best professional is – by their experience and their qualifications alone. Your Outer Banks real estate purchase is a major purchase decision. Real estate is not a liquid asset. If you jump in only to discover that you wish you hadn’t, you may not be able to get out as easily. Are there excellent properties available at present? Absolutely! This is an extraordinary time that is rich with opportunity for buyers on the Outer Banks. The right Outer Banks real estate agent can assist you in identifying, and then securing, the property that fits your lifestyle as well as your investment goals. My desire for you is that you will consciously determine to work with the Outer Banks real estate agent that's right for you. After all, you owe it to yourself to work with only the best. Thanks for visiting. If you think we might be a good fit, I would welcome the opportunity to discuss your Outer Banks real estate needs with you. - Holleay HOLLEAY T. PARCKER
 6 years and 8 Outer Banks real estate transactions later... We first met Holleay back in 2001, when we were considering our first Outer Banks real estate purchase. One conversation in her office convinced us that we had found the right Outer Banks real estate agent. We were impressed with her quiet confidence and with her extensive knowledge of the Outer Banks real estate market. Our first Outer Banks real estate purchase was a vacant lot with Holleay representing us as our buyer's agent. She proved to be a vigorous negotiator on our behalf, always keeping her eye on our best interests. Her attention to detail made our escrow smooth and easy, and we were pleasantly surprised that her attention to our needs continued well after closing. Since then, we have completed 8 real estate transactions with Holleay as our Outer Banks real estate agent. Throughout the years and with each Outer Banks real estate purchase or sale, we have come to know Holleay quite well. It has been our experience that Holleay's level of service and her skills have only improved with time. Six years later, we can say that our first impression not only proved correct, but has served us very well. We have indeed found the right Outer Banks real estate agent for us, for life!" - Jan Paul, Attorney
"I've known Holleay for years now. She's assisted our family with exactly one dozen Outer Banks real estate transactions to date. "Holleay is a true professional - she's knowledgeable about the market, and she's the first to recognize an opportunity. "We consider Holleay to be a powerful asset. Often, during a real estate negotiation, we've remarked to one another how fortunate we are that Holleay's working for us, instead of the other guy. "If you've found Holleay, then by all means engage her services. You'll find that your Outer Banks real estate decisions just got a whole lot easier, because you're working with the best." - M. Richard Howell 4 Outer Banks real estate transactions - "Holleay is more than our agent, she's a genuine, plain-spoken friend as well" "Terry and I met Holleay by chance one hot summer’s day in 2003 and that turned out to be our lucky day! We called to get pricing on some property we’d seen, but wound up getting an education on the ins and outs of beach property ownership. "Holleay didn’t have to take the time out of her busy day to help us, but we quickly found out that this is how she does business. "After completing 4 Outer Banks real estate transactions with Holleay, Terry and I can wholeheartedly recommend her to anyone who wants only the best real estate agent to work with. "If you're looking for personal attention, high moral and ethical business dealings and a genuine, plain-spoken friend to help you every step of the way, then give Holleay a call and see for yourself the difference a real pro makes! "We would not consider doing business with anyone else.” - Ron and Terri Griffith
"Holleay is not only incredibly knowledgeable about real estate in general, she is an expert on Outer Banks real estate. "Her expertise helped us tremendously, not only with our transaction, but also in educating us for making future real estate decisions. "She is not someone that is in business only for her own bottom line; she truly cares about her clients and is willing to go the extra mile for them. "My husband and I made an invaluable decision when we decided to list with Holleay! - Sarah Heermann "Ken and I can't thank you enough for all you have done..." "Dear Holleay: "We would like to thank you for being as fabulous as you are! Our quest to buy a home began with contacting several agents in the Outer Banks area and you were the only knowledgeable person that responded to our e-mail. "Your enthusiasm and insight into the OBX housing market helped broaden our range of potential homes. Ironically, we selected a home that we originally hadn’t considered but your understanding and perception of our wish list identified the perfect home for us! "Our one day tour of homes must have broken all records but we appreciate your dedication to our needs and especially our wants. By the following day we had a contract in hand for a beautiful second home! "Ken and I can’t thank you enough for all you have done to make our dreams of owning a second home in the Outer Banks a reality. "Your passion and helpfulness has sparked more than just a client - real estate agent relationship; YOU have become an important part of our enjoyment of the OBX. "Thanks again for everything!" - Ken and Teresa Bingman
"There's a family-owned grocery chain with all but a few of its stores located in the Richmond area. They have fewer stores than any national chain does locally. They are never open on Sunday. They don't sell beer or wine. "For as many years as I can remember, they have topped the survey charts in total sales. "By providing service that is unrivaled by their competitors. "They always carry your purchases to the car--- tipping not allowed. When you walk in any of their stores, you feel a cut above. All of their employees are pleasant and gracious. If you're looking for any item, they will take you to it. "Once, as I was searching for some rarely asked for item Sally wanted, 3 employees scoured the store until they found it and brought it to me. "Competitors have studied what Ukrop's does--- none has come even close to imitating them. -John Rice
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