Monday, November 30, 2009

New-home sales rise to highest level in a year

 

Sales of new homes rose last month to the highest level in more than a year as strong activity in the South made up for weakness in the rest of the country.


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Tuesday, November 17, 2009

Outer Banks Economic Indicators

Economic indicators released by the Outer Banks Chamber of Commerce are a good-news, bad-news type of report.


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Thursday, November 12, 2009

Thursday, November 5, 2009

Fannie Mae getting into home rental business

Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.

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Wednesday, November 4, 2009

Home sales rise 9.4 percent in September

Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

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Home prices rise for third straight month

Home prices rose in August for the third straight month, a rapid pace of recovery that surprised economists and raised questions about how long the trend can last.

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Interest rates climb for third week in a row

Rates for 30-year home loans climbed to 5.03 percent this week, the third consecutive weekly increase.

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Tax Credit Purcahses Extended

Construction spending rises in September

Construction spending in September posted a better-than-expected performance, powered by the largest jump in housing construction in more than six years.

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Pending home sales reach 3-year high

A sign for a home under contract is seen in Philadelphia on Oct. 21. The volume of signed contracts to buy previously occupied homes rose for the eighth straight month in September.Signed contracts to buy previously occupied U.S. homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time buyers.

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Monday, November 2, 2009

Southern Shores Canal Dredge Project

The best news is that we had a successful bid opening on Tuesday, Oct. 27. The bidder was a local company, Sampson Contracting, Inc. The bid amount was just about $1.7 million, which is under the amount budgeted, but more than was anticipated when we applied for the matching grant. The contract proposal will be presented to the Town Council on Nov. 4th for their approval.

To accomplish the work required for this project, Sampson Contracting will team up with Piedroba Dredging, a Florida company with experience using the hydrocyclone technology.

We still have a few obstacles to overcome, all of which have been addressed in earlier updates. They include a final approval of our Submerged Aquatic Vegetation Relocation Plan, and the acceptance of the hydrocyclone for dewatering the spoil material. We are hopeful that the regulatory authorities will expedite their approval.

Finally, the question arose, once again, about the boats in slips and whether or not they should be removed. As indicated in last week’s update, you would be well-advised to remove them from the water, or relocate them temporarily to another location, not part of the phase one dredge.

Also, the most recent thinking is, that for public safety reasons, the east side of the North Marina will be closed to visitor and ramp traffic during the dredge period.

As always, your questions and thoughts are welcome. You can reach me at 252 619-5996 or jwbobx@embarqmail.com

Construction spending rises in September - Outer Banks

Construction spending in September posted a better-than-expected performance, powered by the largest jump in housing construction in more than six years.

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Pending home sales reach 3-year high - Outer Banks

A sign for a home under contract is seen in Philadelphia on Oct. 21. The volume of signed contracts to buy previously occupied homes rose for the eighth straight month in September.Signed contracts to buy previously occupied U.S. homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time buyers.

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