Real Estate in Outer Banks
Hugh "Scooter" Willey
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Waves Real Estate Analysis

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About Waves, North Carolina

Approximate Location Boundaries: Waves is the central unincorporated community in the tri-village area which includes both Rodanthe and Salvo. It is located on Hatteras Island, part of North Carolina’s Outer Banks. Waves, along with Rodanthe and Salvo, are part of the settlement of Chicamacomico. On both sides of Waves are deep blue waters belonging to the Atlantic Ocean and the Sound.

Zip Code: 27982

Location Characteristics: Off-shore winds blowing from the Atlantic across to the sound side, are perfect for watersports in Waves. Because of this natural phenomenon, you’ll find that Waves offers some of the best windsurfing and kite boarding in the area, let alone the world.

Waves is dominated by campgrounds both large and small as well as numerous vacation rental houses. Building in Waves began some years ago, the central town of the tri-village. Yet, as more and more people have come to live in this beautiful area, the growth widened to Rodanthe in the North and Salvo in the South because of the beautiful waters on either side. Waterfall Park, sees quite an influx of tourists during the summer months.

Real Estate Market Snapshot: The Waves real estate market has been a buyer’s market for the past several years. Along with the economic and housing crunch that all American’s are currently feeling, local businesses and citizens have been forced to take an active role in defending North Carolina’s previously free and open beaches. The beautiful beaches along Hatteras Island (which includes Rodanthe) have always been the basis of the local economy until recently when the National Park Service (NPS) decided to begin beach closures in an attempt to expand their bird populations.

Currently, prices remain very reasonable. Since the sold prices for the Outer Banks real estate market has bottomed for many vacation rental properties, the return-on-investment ratios are the BEST that it’s going to get.  Properties are selling and financing is available to qualified buyers. As demand continues to grow and should the inventory of real estate properties continue to shrink, real estate prices will rise. As prices begin to rise, the return-on-investment will be decrease.

If you have been thinking about purchasing an Outer Banks home on Hatteras Island, whether for retirement, for relocation, as income producing vacation investment property or as a vacation getaway, now is the opportune time for buying. Come in and talk with “Your Full-time, Overtime, Anytime Realtors”. We will provide you all the crucial information you need to make the best decision.  Please contact us to request our FREE monthly OBX real estate newsletter and our quarterly update with request our FREE monthly OBX real estate newsletter and our quarterly update with OBX Real Estate Market Statistics. We will keep you posted on the most current OBX real estate developments so you can have an edge on others when searching for Outer Banks real estate.

Imagine finding your perfect Waves home… Start searching now!

Posted on February 21, 2013 at 3:20 pm by Hugh "Scooter" Willey