Spring is right around the corner!
March has meant the return of winter so far; we were all thinking “early spring” with a very mild February but winter has returned. As of this writing, it’s cold and windy. The good news is April is around the corner. There are three community events planned for April: The famous “Easter Egg Hunt” at Little Island Park on April 8th, The Sandbridge Community Yard Sale on the 15th, followed by the Spring Clean Up on the 16th. If you’re in the area, we would love to see you at these events!
On the real estate front, it’s been active. Almost all the new listings that have come in the last 45 days or so are under contract or sold. Of note is the sale at 3548 Sandfiddler and the “pending” sale at 305 Sea Scape. Both of these properties represent new highs for locations. The oceanfront property closed for $1,097 sq.ft., which to my knowledge is the highest at the beach and the Sea Scape home, which is a bayside property, listed for $2,300,000 and is scheduled to close soon.
Activity for past 30 days is as follows:
Single Family Homes – 1 Sold and 7 Pending
Condos – 2 Sold and 1 Pending
Current rates courtesy of Liza Gibboney – Fairway Mortgage
NMLS# 243062 | Cell: 757-630-9604 | Office: 757-932-8497
To all investors: Ask me about our DSCR loan product. No income qualifying. We take the rental income to qualify -this includes on seasonal rents.
Conventional 30 Year Fixed – 7.25
Non-Conforming 30 Year Fixed – 6.75
VA 30-year Fixed – 6.0
FHA 30-year Fixed – 6.0
Rates are subject to change based on the market, credit qualifying, loan to value.
The notification I sent out along with the Sandbridge Beach Civic League regarding the Kitty Hawk Windmill Project produced a great response. City Council received numerous concerns from homeowners in the area which caused them to hit the “pause button”. They are now planning to host several town hall meetings and have asked Avangrid to provide much more detailed information about their project. Please stay informed on this matter and I’ll continue to get as much information out as possible.
Aloha,
Pat