Depends on where you want to buy. The erosion is very bad from Buxton, Frisco, etc., to the end of the Island. If I were looking to buy on the beach, I'd be looking at Duck/Corolla. Ocracoke isn't too bad. However, it's expensive real estate just like Duck, and Corolla. If you really want to play it safe, check out Manteo. Where were you on the OBX? We were in Frisco. Never again. It's a doomed beachfront. There are HUGE sandbags out on the beach, and there are decks falling into the sand every week there due to the erosion. God is taking back some land, and this isn't the place to put $$$. Oh yes, we had P&C insurance. However, we went in the hole to the tune of $75,000 after it was all said and done... Again, never again. Please take my word for it. The best thing to do is rent a house on Buxton, Frisco, and/or Hatteras, etc., and LEAVE after you've enjoyed the peace, quiet, and scenery there. I hate to even type this, as we love it south of Nags Head. Last, never again. Did I mention that earlier? My Wife cries her self to sleep at night when she looks at the photos of what we USED TO HAVE. Now, I tell her "let's go. We'll rent a nice house there, and leave when we need to leave. I also get "torn up" when thinking about about what used to be, and what is now reality. What a beautiful, peaceful place! Our kids could pley there, no worries. We could walk across US12, and get some shrimp, and a few Pepsi's while the kids played. It's not the same, and it's a really, really touchy subject with us as that's where we said we were going to retire to someday. I wanted to fish while she collected sea shells... That's all changed now.
i was an independent adjuster for the largest ins co for katrina...strictly in "new orleans" and the small towns outside marrero etc; the majority of my 400 + claims were on the westbank, and i was paying people out the ass...the more i paid out, the more i made! is that floodline still around any of the city or has most of it been cleaned up? i'm going back to visit in 2 mths...
as of 11pm update we have more reason to believe this is going for the gulf, This added to the fnm/fre news could provide for an EXTREMELY volatile session monday
I'm sorry to hear that. I live about forty-five minutes from the OBX and go every weekend I can. As for buying, I'm looking at northern OBX. Duck is too artsy and pretentious for me. Corolla is OK. There are some homes in the Nags Head area that have some distance to the ocean. Those are the ones I am looking at. Prices have come down 40% in the last two years in some parts, and the demand has not picked up yet. There is some room to go. You're exactly right about south down by Hatteras. At some point there will be no more beach road. Geologically speaking, the OBX are very young, and some parts of it won't be around for that much longer. Beautiful area, but not a place I would want to be during a hurricane. I'm being careful about what I buy. Even so, at one point Manteo will end up being the beach. There are streets in Virginia Beach that a century ago were places to walk, and now they are under the ocean.
Smilignsinic, You must be near Norfolk. I would suggest a purchase on the sound side off US12. That's what we're buying. Btw, do you like to fish? My three Sons and I like to catch yellow fin tuna all day! YUM!!! 20 and 30lb+ yellow fin are the norm this time of year! Gotta love that! Last year, we caught 8 Mako Shark while fishing for yellow fin. I brought in a 4'7" mako, and we turned all of them loose. The Yellow fin were a different story. We had/and are still having some good dinners from them. Nothing like a yellow fin steak, a big baked potato, Shrimp, and cole slaw to top off the evening! Yum!!!! You've made me hungry now! Shoot me a PM, and we'll get together for a trip into the sound, or Atlantic, and split the cost. I'm in WV, but am at the OBX 3-4x per year. No, we'll refrain from "stock talk" as the kids think it's boring. (We'll talk while our catch is being cleaned! I'm into LEAP Options, and Currencies. The LEAPS I'll talk about. Currencies, I cannot, and will not.) LOL!!!!!! We'll talk while the kids are catching fish. I won't talk about currencies, but LEAPs, no problem.
When he had all the activity in Florida, they were using unqualified guys who had no idea what they were doing. The first guy I had was good. After that, these two texans pulled up, paid me a ton of money. I called Citizens Windstorm, said, "I dont' think this is right. You paid me too much. " They said, "The check and estimates are correct. It is your money." Later, I found out they made more w/a bigger estimate. How does it work? Can you share now?
8am update - track keeps shifting west, now it looks as it will enter the gulf for sure, and the worst part is monday when the market opens this will basically be at the doors of the gulf creating even more fear in the markets
Just for the record, of the 4 insurance companies i had claims with after Katrina, two small independents and Farmers and AIG . AIG was by far the slowest to respond but also the most professional and gave a very detailed estimate that was right on the money, and very fair. The two small companies were under by a good amount the actual cost of repair. I had to refuse settlement on one and go back to them. They upped, but still they were under but was tired of fighting them. There was also an incredible amount of scamming by contractors.