As is the case in all areas of the country, real property values are regularly updated in order for the municipalities to establish the tax rates for annual real estate taxes. On the Outer Banks this is required by statute to be completed no less than once every 8 years. Both Dare and Currituck counties are complete with the process and are sending these new assessments to the owners of record. First to complete this is Dare County. The process is very similar for both counties. Once the owner receives the new assessed value, there is an appeals process that allows for the owner to challenge the new value. The process was presented to the Dare County Commissioners at a meeting in February and it is an excellent review of not only the process but shares a good glimpse of the entire county and the mix of ownership. See the county tax reassessment presentation below. Continue reading
by the North Carolina Real Estate Commission
When buying or selling real estate, you may find working with real estate agents helpful. Real estate agents can provide many useful services and work with you in different ways. In some real estate transactions, the agents work for the seller. In others, the seller and buyer may each have agents. And sometimes the same agents work for both the buyer and the seller. It is important for you to know whether an agent is working for you as your agent or simply working with you while acting as an agent of the other party. Continue reading
So you want to buy a beach house? A few questions are in order, and then you can get started!
Is this for investment, pleasure, or a combination of the two? For investment…leave the emotions at home, and focus on the numbers. For pleasure, you’re allowed to let your emotions roam…but don’t forget the associated costs!! Which part of the beach is your preference? Look at the map to the left and begin to get a feel for the area. There are miles and miles of beach, but everyone seems to have a personal desire to be on one stretch. Continue reading