ONLY $215,000 W/ BUILDER UPGRADES

Stunning Oceanfront with Sound Views!

IS NOW A GOOD TIME TO BUY AN INVESTMENT PROPERTY?

YES!

NAR's chief economist, Lawrence Yun, says "the market appears to be stabilizing with modest monthly ups and downs", and that first-time buyers are now driving the market, which will continue to help the overall market improve as sales increase (Source: www.Realtor.org 4/23/09).

Finding a positive cash flow rental home on the Outer Banks is not a piece of cake. However, home values have declined to the extent where more and more rental properties are proving to be great profitable investments again, and their list prices are now more in line with rental figures to create great rental ratios for investors.

Given the market's decrease in prices and the incredible interest rates availalbe, you can't deny that now is the perfect time to invest!

There are several factors that affect the cash flow of a rental home including rental income, management fees, utilities, taxes, mortgage payments and insurance to name a few. Besides these obvious factors, you should also consider the tax benefits of owning an investment home and discuss these with your CPA.

To receive a full Investment Analysis Breakdown spreadsheet of any properties of interest, email me today!

NC IS THE STATE WITH THE LOWEST CLOSING COSTS!

"New York, Texas, Florida. For the second straight year, those are the most expensive states in which to get a mortgage. Nationwide, the average origination and title fees on a $200,000 mortgage this year totaled $3,118, according to Bankrate's annual survey of closing costs. The fees in the survey don't include taxes, insurance or prepaid items such as prorated interest or homeowner association dues.

Fees in New York City were highest, averaging $4,016 in Bankrate's survey. Houston came in second, with fees that averaged $3,975. After that came Buffalo, N.Y., with fees averaging $3,845, and then Miami, at $3,683. North Carolina had the least expensive closing costs in the survey, at an average of $2,650. The previous year, Indiana took the last spot.

The annual survey of online lenders is conducted by obtaining fee estimates for a $200,000 mortgage in each state's most populous city."

(Source: Bankrate.com)

BANK OWNED STATS JANUARY 1 - APRIL 30, 2009

57 - # Sold

$288,082 - Av. Sold Price

$320,132 - Av. List Price

90% - List Price to Actual Sold Price

129 - Av. Days on Market (4.3 Mo.)

30 - # Currently Under Contract

* Bank Owned Properties made up 22% of all property sales from Jan. 1 - April 30, 2009 (261 Total Property Sales)

* Bank Owned Properties were on the market an average of 68 fewer days than other sales (35% lower average # of DOM)

* Bank Owned Properties sold an average of only 2% lower than other sales based on Av. List price to Actual Sold Price percentages (All sales averaged 92% of list price to actual sold price; whereas, bank owned sales averaged 90% of list price to actual sold price)

* A combination of having these properties priced right from the start along with a growing demand from buyers is creating fewer days on the market, less room for drastic negotiations and an increase in overall sales activity!

TO SEARCH CURRENT BANK OWNED HOMES FOR SALE ON THE OUTER BANKS, CLICK ON http://www.coldwellbankerobx.com/property/proplist.asp?PRM_PropertyTypeCode=bankOwned

You can also call or email me, and I will be happy to set up a search for you.