Serendipity finds a new home

The relocation process of the Outer Banks beach home, Serendipity, which was featured in the movie “Nights in Rodanthe” was completed on January 18, 2010. The oceanfront house was located in an area threatened by storm systems and ocean waves. It was put on the market for sale and the new owners made arrangements for it to be relocated to a lot some distance from the ocean waves.

Measuring 45 feet high, 35 feet wide and weighing 83,000 pounds, the house was loaded onto a trailer where it took just 22 minutes to move it to the new home site. Built in 1988, the home became famous when it was featured in the 2008 feature film starring Richard Gere and Diane Lane. People lined the highway, took photos and walked alongside the house while a helicopter circled overhead.

We are seeing more positives than negatives….

Over the last 3-4 months we are seeing more positive than negative articles on the local and national housing market and on real estate in general. Locally we are seeing an increase in primary residence home sales under the 300K range and on investor-based inquiries for over $1M range. Although we are seeing increase in inquires across the board; there is still a very large inventory in the 300k- $1M range. Our new construction inquiries have increased from 2-3 per week in the past 12 months to about 5-7 per week in the past two months. We’ve had several inquiries from large investor groups that want to build multiple investment properties and institutions that are ready to build-out stagnant developments in order to take advantage of lower supply cost and labor costs. Whether or not the bottom is here, we are experiencing a slight decrease in our ability to negotiate good deals for clients which may indicate an upward pressure on longer term pricing. Clients are once again excited about investing!

We work with many financial planners, and they are once again recommending blending some real estate components into their client’s investor portfolios. The significant increase in inquiries certainly suggests that investors are considering real estate purchases for long-term investment returns. Recent talks and developments on the mid-Currituck bridge state construction should begin early in 2010 with completion targeted in 2013. A true economic recovery for the Outer Banks is derived by the confidence of our tourists in selecting us as their vacation destination and the place where they wish to purchase or build a second home or vacation rental investment property. We fully believe the completion of the bridge, ease in traffic flow and our rebounding economy will make the Outer Banks a prime investment area within the next 3-5 years. Visit www.homesbysaga.com to see our project gallery of newly constructed investment homes built in the past 18 months.

Due to recent public concern and local support, a new ordinance has been passed in Corolla, NC., the northern end of the OBX, which restrict the public from nearing wild horses. Previously, out-dated ordinances could only be enforced if a person were within 50 feet, “feeding” the horses, which was the only restriction mentioned in the ordinance.

The new law bans all forms of intentional contact to reduce potentially harmful exposures to these unique animals. If you visit the OBX this summer, by all means take some time to witness the beauty of these rare, free-range horses, but be aware of these new regulations so both you and the horses can enjoy the OBX.

For Full Story Visit:
http://www.myfox8.com/news/sns-ap-nc–currituckhorses,0,4202575.story

SAGA Construction is pleased to announce the development of a new retirement destination in Edenton, NC. Beechwood Community will be the first Continuing Care Retirement Community (CCRC) in the area.

The waterfront town of Edenton is conveniently located to the Outer Banks, the Raleigh-Durham area and southeast Virginia. Often referred to as “The South’s Prettiest Small Town,” Edenton is the second oldest city in North Carolina and provides a charming and idyllic setting for retirement.

Beechwood campus will be comprised of a variety of housing options totaling 440 units. These accommodations are designed to meet individuals’ health and housing needs as they change over time. On-site security,meal preparations, transportation services, grounds upkeep and housekeeping services are just a small part of assistance features readily available to Beechwood residents.

Community and cultural events, planned trips and on-site activities ensure a high quality of life for active retirees. With its close proximity to University Health Systems of Eastern Carolina, and a community wellness center on site, Beechwood Community can provide appropriate caras residents’ health requirements change.

Because real estate brokers are always in contact with people in transition within our community, we often encounter folks who could directly benefit from the financial, social and wellness benefits associated with a CCRC. Whether referring a friend, relative or client in need, our Beechwood Community project is a viable option that provides a wide range of flexible services as our residents’ needs change.

Due to changing age demographics, the number of individuals retiring to North Carolina and the increasing popularity of a CCRC lifestyle, we feel our upcoming Beechwood project will bring referral sales opportunities to all regional real estate brokers.

For more information about our referral program or to obtain locations for our upcoming information seminars, please call 888-441-7891, email info@beechwoodcommunity.com or visit us on the web at www.BeechwoodCommunity.com.

Our Upcoming seminars

June 9th ……………….Virginia Beach

June 10th ……………..New Bern

June 13th ……………..Edenton

TBD……………………..Wilmington