A Long Love Affair

I love Southern Shores!  I was a young girl the first time I saw the beach at Sea Crest Village. It was the late 1950’s and we were almost the only family here!!  My father's friend had a home on Third Avenue where our family of 8, plus the dog, stayed for a week.  No air conditioning, but who noticed!  There was a sleeping porch that caught the ocean breeze and hundreds of frogs in the pond croaking all night. It was heaven!  We played with the dolphins, collected big conch shells, swam in the warm water and rode our bikes all over the Outer Banks.  This was many years before there even was a Corolla!  No phones, TV or even radio then.  Just a portable record player with vinyl that drove our parents nuts!!  In 1971, my parents built their own beach house on Third Avenue where every year the whole family gathered from all over the country. Although I moved to Los Angeles, my son learned to swim in the Atlantic ocean!  He always preferred the beach here.  Today he brings his science students each year for their marine biology field trip all the way from Cleveland.  And his 4 year old daughter Lucinda shares our love for our Southern Shores beach. They visit at least four times a year!  My parents sold that beach house when they moved to a year around residence on Sea Oats Trail.  They retired here from the Washington DC area, remaining in Southern Shores until their deaths in 1992 and 2009.  My father, who died last February, refused to leave Southern Shores, even when his eyesight failed and he had to climb 14 steps everyday to get in and out of the house.  His passion for his home brought me here as a full time resident 2000 and I will be forever grateful that he needed me.  What started as a holiday in 1958 became a way of life for my parents, my son and me.  Southern Shores has a way of embracing you, keeping you safe and happy.  It is my hope that other people who visit here will be able to transform their vacation into their own permanent paradise.

Home Inspections: Why?

This post asks a serious question:  What is the purpose of the home inspection?  

I ask this because in my last two transactions where I represented the buyer, the home inspections turned out to be worse than worthless. 

For example one home had non functioning HVAC on the day the new owners moved in.  Subsequent service evaluations proved it was impossible the system was working at the time of inspection.  The inspection report specifically noted that all HVAC units were functioning properly. That is a $6000 repair bill before the furniture is even delivered!  On this same property, there was a serious water leak in one bedroom after a storm.  The service person found, after crawling up to the very top of the attic, a series of pans the sellers had apparently been using for quite some time to collect the water coming from poor flashing around the badly constructed chimney plus other structural defects.  Currently the chimney is being rebuilt, dry wall & carpet replaced; another costly repair.  Of course, there is no way these problems were non existent at the time of inspection, less than 45 days prior to the rain. 

Before the closing I asked the seller's agent explicitly if there were any leaks or roof damage known to the sellers and was told there were none.  The buyer commented, "Even if we had known about these problems we would have still bought the house.  If they had been honest with us, at least we would have known what we needed to budget to fix this mess." 

Another property also required repairs that should have been noted in the home inspector's report.
Thank goodness I included home warranty insurance in the contract so some of the repair costs were covered! 

Lately in my world, home inspections seem to be a formality rather than a tool guiding the buyers and sellers during negotiations.  So, why do we rely on home inspections at all?  Are they of any use?  Is there another way to insure the property is not in need of such major repair?  What recourse does the buyer have for remedy?

Your thoughts and experience on this topic please!  HELP!

Is Anything Selling in Southern Shores?

Everyone is always asking me "What is the market doing?" or "Is anything really selling?". So I am going to post each sale in Southern Shores as it happens with a photo, address and sold price. If you want any more information about the specific property, please give me a call or shoot me an email. Enjoy!

Here is what we have for 2009 so far:
10/16/09 63 Ocean Blvd $689,000
10/5/09 92 Duck Woods Rd $620,000
10/2/09 264 Sea Oats Trl $365,000
10/1/09 19 First Ave $385,000
9/28/09 44 Skyline Rd $378,875
9/28/09 163 Happy Indian Ln $300,000
9/25/09 249 Ocean Blvd $680,000
9/25/09 116 Last Hunt Ln $435,000
9/21/09 173 Happy Indian Ln $394,00
9/17/09 204 Ocean Blvd $3,050,000
9/16/09 24 Spindrift Trl $375,000
9/4/09 238 Sea Oats Trl $291,000
8/28/09 141 Beech Tree Trl $349,900
8/28/09 19 Palmetto Ln $295,000
8/25/09 62 Trinitie Trl $325.000
8/24/09 50 Duck Woods Dr $405,000
8/17/09 24 Eleventh Ave $380,000
8/12/09 29 Pintail Ct $470,000
8/11/09 258 N Woodland Dr $264,750
8/7/09 9 Thirteenth Ave $875,00
7/31/09 111 Pudding Pan Ln $535,000
7/24/09 106 Landing Trl $240,000
7/24/09 1 Mallard Cove $294,500
7/16/09 45 Ocean Blvd $845,000
6/30/09 149 Poteskeet Loop $460,000
6/12/09 30 Juniper Trl $174,000
6/12/09 9 Second Ave $565,000
6/12/09 43 Eleventh Ave $500,000
5/29/09 314 Sea Oats Trl $465,000
5/29/09 133 Chicahauk Trl $300,000
5/15/09 118 Tall Pine Ln $575,000
5/4/09 40 Skyline Rd $220,000
5/1/09 49 Ocean Blvd $475,000
4/23/09 228 Ocean Blvd $1,250,000
4/7/09 26 Eighth Ave $445,000
3/30/09 236 Hillcrest Dr $450,000
3/23/09 112 Landing Trl $255,000
3/18/09 18 Mallard Cove Loop $329,000
3/17/09 116 Duck Woods Dr $440,000
3/6/09 147 Holly Trl $600,000
2/27/09 33 Tenth Ave $443,000
2/13/09 68 E Dogwood Trl $341,550
2/13/09 38 Spindrift Trl $550,000
2/12/09 91 Trinitie Trl $525,000
2/6/09 347 Sea Oats Trl $850,000
1/9/09 1 Hickory Trl $3,100,000
1/9/09 52 E Dogwood Trl $290,000

Use A Local Lender For Real Estate Transactions

Transactions involving a lender outside our local area have been a nightmare! Here on the Outer Banks of North Carolina the market is mostly second homes, retirement homes and/or investment properties, especially in Southern Shores, my area of speciality. In most cases, my buyer and seller clients do not live here. Because of the logistics, sometimes a client will want to use “their bank” in their own hometown to purchase property hundreds of miles away. That is when the trouble begins.

Here are the reasons I argue for using a lender familiar with the area of the subject property.

1. Appraisals have become more complicated as they are more closely regulated. An appraiser sent by a lender not familiar with the area will hold up the transaction and/or not be able to appraise so another appraiser is sent. Deals die this way!
2. Lack of local market knowledge is harmful. It has been my experience that local lenders have an intimate knowledge of their own area which positively influences their decisions. Especially in coastal areas, knowledge of local geography, flood zones, etc. is critical.
3. Difficulty gaining access to decision makers can be a deal breaker. We all have relationships with our local bankers. It is such a waste not to be able to call on these folks for assistance. . The lenders I suggest to my clients are the best in every way and enhance the experience for everyone.
4. Our clients don’t get all the services we can provide when the lender is not part of the local team. I find my hands are tied when my clients really need my help.
5. Finally, on-line lenders are just another breed altogether! I don’t even know where to start with this one.

I would love to hear about your own experiences in this area. Perhaps you have some tips for me to use when I must deal with non-local lenders! Thanks!

Ten Things I Have Learned About Life From Living With a Three-legged Dog Named Fannie Rose

If you have read Fannie's Story on my website http://www.mysouthernshores.com --- you know that she is my 3-legged terrier. I believe that she came into my life to be not only my friend, but also my spiritual guide. She taught me many lessons about dignity and coping. I would like to share them with you now.

1. Life is not always what I thought it was going to be. I accept this fact and try to move on with the wonderful gifts I have been given.

2. I try not to pre-judge people by their looks. Upon meeting Fannie you couldn't possibly believe that she likes to run, but she most certainly does.

3. Sometimes I have to step out of my comfort-zone to learn new ways of doing things. Almost every time I do this, I grow.

4. I try to focus on my strengths instead of my weaknesses. Although easier said than done, it does help me to keep a positive attitude.

5. I always look people in the eye when I talk with them. Fannie has amazingly intelligent eyes and sometimes she can communicate with me without saying a word.

6. Simple pleasures, like a favorite sweater or a long walk are definitely the best. In Fannie's case, it is a silly little toy that I got for her from the Dollar Tree. It just makes her so happy.

7. Listen to what your heart tells you to do. When I first saw Fannie, I knew nothing good was going to come of her being in that pet shop. My heart told me to take her home and I am so happy that I did.

8. Patience is a virtue. It took Fannie time to heal. It takes time to grow a successful real estate business. Coping with the ambiguity takes patience and I intend to stick with my long-term goals.

9. I have learned that routines are important to both Fannie and me. We have to eat, exercise, and sleep to stay healthy and happy. We just do it together.

10. And as I gaze down upon Fannie curled beneath my feet as I work on the computer, I understand that unconditional love is the greatest gift one can ever give or receive.

Thank you for listening.

MM