Aug 03 2008
As interest rates are a major factor in most decisions to buy an Outer Banks vacation home, it is traditionally good news to see an interest rate drop. In todays market an interest rate drop can be cause to celebrate. For the week ending July 31, 30 year interest rates fell from 6.63 to 6.52 and 15 year from 6.07 to 6.18. While these drops are minimal, it does help anyone currently in the market for an Outer Banks home.
May 02 2008
Need a reason to smile as a vacation rental home owner? According to a report by Peter Yesswich, many Americans are planning a vacation in the next 6 months. This is an especially appealing fact considering the current economic conditions. Though an economic slowdown could be happening, most Americans are undeterrred in their vacation plans.
Local Outer Banks vacation rentals for the 2008 summer appear to be up into the double digits for most property managers. Perhaps due to the increased cost of a plane ticket, Americans are just fueling up and staying on the mainland. Whatever the cause, it appears that the 2008 rental season will see an increase from 2007.
