Stories by OBAR

Be clear on the perils of co-signing for a mortgage

Younger customers frequently look to parents or grandparents to help them get into a first home. As rising home prices and interest rates present even greater challenges for first-time buyers these days, you may encounter more situations involving co-signed mortgage loans. While it’s not your role as a REALTOR® to provide financial advice to your customers or their relatives, it’s wise to be prepared with information if you are asked.

Mar 7

In Closing

The closing process technically begins when you have signed a purchase and sale agreement. That agreement should specify a closing date. Typically — from the signing date to the closing date — closing takes four to six weeks. During this time, purchasing funds are held in escrow, where your money is safe until the deal is officially done.

Feb 28

Some things to know about an appraisal when buying a home

After you sign a home purchase agreement and before your lender approves your loan, the home you’re buying must pass an appraisal — an assessment of the property’s value by an unbiased third party: the appraiser.

Feb 26

How a new income tax deduction affects realty professionals

The National Association of REALTORS® (NAR) has developed specific examples of how real estate professionals will be affected by the new 20% Qualified Business Income Deduction of Section 199A of the Internal Revenue Code. Section 199A of the Code provides many taxpayers a deduction for qualified business income from a qualified trade or business operated directly or through a pass-through entity.

Feb 11

Seven reasons to work with a REALTOR® rather than a real estate agent

Did you know that there is a difference between a REALTOR® and a Real Estate Agent? REALTORS® aren’t just agents. They are professional members of the National Association of REALTORS® (NAR), as well as State (the North Carolina Association of REALTORS®), and local (the Outer Banks Association of REALTORS®) associations. More importantly, they subscribe to NAR's strict code of ethics.

Feb 7

REALTOR® Association’s Bowling Tourney to help food pantries

For the past few years, the Outer Banks Association of REALTORS® (OBAR) has held an annual bowling tournament to benefit their Disaster Relief and Scholarship Funds. But this year, the focus will be on OBX residents affected by the recent government shutdown

Feb 1

Save the date: Homeowners insurance rate filing forum

The League of Women Voters of Dare County is joining forces with the Outer Banks Association of REALTORS® and its CEO Willo Kelly to address in a public forum Feb. 13th the North Carolina Rate Bureau’s (NCRB) recent rate filing submission

Jan 31

Homeowners insurance rate hikes up to 30 percent proposed

The North Carolina Rate Bureau (NCRB) submitted a Homeowners Insurance Rate Filing to the NC Department of Insurance NCDOI) on December 20th. The filing reflects an overall statewide average increase of 17.4% for homeowners, renters and condominium rates.

Dec 21

Drop-off location for Toys for Tots®

This year, the Outer Banks Association of REALTORS® will be a drop off location for the Marine Corps Reserve Toys for Tots. The Association will be accepting new, packaged toys now through Friday, December 7th. The OBAR office is open from 8:30am-5:00pm Monday-Friday.

Dec 4

Give the gift of blood this holiday season

On Wednesday, December 5th, the Holy Redeemer by the Sea Catholic Church in Kitty Hawk is co-sponsoring a holiday blood drive with the Outer Banks Association of REALTORS® (OBAR). The blood drive, open to the public, is scheduled from 12:00pm until 6:00pm and will take place at the Holy Redeemer Church

Nov 28

What to expect during a home inspection

The first thing you need to know about a home inspection: You’ll feel all the feels. This is the 4th in a series brought to you by the Outer Banks Association of REALTORS®, designed to help educate and reduce stress in the homebuying process.

Nov 8

Steven Gillis State Farm team wins OBAR Surf Fishing Tourney

The Outer Banks Association of REALTORS® held its 22nd Annual Surf Fishing Tournament on Friday, October 19, 2018 at Jennette’s Pier. The Steven Gillis Agency State Farm team took first place with a total of 103 points

Nov 6