Prospective Buyers
Buying an investment property is one of the most exciting purchases that an investor can make. Not only does Real Estate have the tangible qualities which a lot of other investment don't,it is also something that can be passed down from generation to generation to enjoy. The saying goes "The one thing that man has wanted since the begining of time is land." With that in mind, this is a constant that does not appear to be going away any time soon. With a market that is in flux constantly, this is a great time to purchase an investment property in Duck or Corolla.
In my professional and personal opinion Duck and Corolla will show the most promise here on the beach in the near and distant future. These areas have begun to separate themselves from the other areas on the Outer Banks largely based on the fact that they are the newer resort areas. The simple visual appeal of the area is not even comparable. The beauty of the landscape and beaches are more appealing then most of the beaches on the Outer Banks. One of the main reasons that these areas are in such high demand.
By applying basic economic principals we can see the demand for these areas are strong. The town of Duck has only a small amount of lots left that are buildable and is the strongest area for rental properties here on Outer Banks. With the increasing demand of vacationers wanting to stay in Duck and not much more product to choose from this leads to one conclusion. A sharper incline on ones rate of return. With that information it is easy to see that Duck is the area of greatest value.
A large percentage of people that stay in Duck and Corolla during the summer months are people that live in the Northeastern region of the United States. There is currently plans at this time to build a Bridge that is located closer to Corolla and Duck. This bridge will cut down travel time in the summer months up to an hour and half. That will obviously play a huge part in peoples travel arrangements as far as desirablity and where they want to stay on vacation. Once again reenforcing the strength that Duck and Corolla will have on the market here on the Outer Banks.
