While distressed properties are accounting for approximately 40% of our current sales, the inventory of active listings have decreased by 14% for for the first month of 2011 compared to the first month of 2010. 

Corolla remains the most active area for sales, however the sales have decreased in this area as well.  In January 2010, there were 18 units that sold compared to only 10 that have sold in January 2011.

We are seeing multiple offers when well priced foreclosures hit the market and many are going under contract within a week of listing.  It is more important than ever to be made aware of these homes as soon as they hit the market.  I preview these homes as they come on the market.  If you have any questions about a property you may see online, contact me at dawnstultz@embarqmail.com or call at 252-489-8687.  Blue Horizon Realty previews Outer Banks foreclosures to give you a realistic evaluation of their condition and rental income potential.  Please visit www.InvestInObx.com to search all distressed properties or the Multiple Listing Service.

Kitty Hawk, NC