Straightforward 1942 Pacific Front Premium Programs - What's Needed
"Front Row" Premium
9
Ocean View Premium Webcam
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date post
21-Oct-2014 -
Category
Real Estate
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It's been a while since I hit this topic, but it's about time we circled back to the awesome BLUEMiND2 conference that was held on the Outer Banks in early June.You can find more info about the conference in our Blue Mind blog category or on our webpage dedicated to the Blue Mind event, but for this post, I want to focus on a specific talk from the BM2 conference; "The Ocean View Premium."How much is the ocean view worth? And is it worth the added cost?As I discussed in a recent post about planning an Outer Banks vacation, we understand the trials and tribulations that go into organizing a vacation. It's a thankless task, but someone needs to do it. :) One of the largest challenges for the planners is choosing the house, and a difficult aspect of that choice is location.Should you go front row, oceanfront, or should you save a little money and be a little further from the beach?We can always walk to the beach, right? And the money we save can be used in other ways - food, equipment rentals, souvenirs...maybe even a great new IPad to bring with us! Is this the right trade-off?Oceanfront vacation rental homes can be expensive, but are they really worth the added costs? This was one of the questions we tried to tackle at the Blue Mind conference.We recruited Gordon Jones, local OBX resident and President of Coldwell Banker Seaside Realty for 22 years, and Dr. Scott Huettel, a Duke University neuroscience professor to, dissect the "Ocean View Premium" from a practical, real estate perspective and a scientific mind/reward perspective. The results are not unexpected, but also very fascinating.
Transcript of "Front Row" Premium
Slide 1
Ocean View PremiumWebcam
Owner & CEO Coldwell Banker Seaside Realty real estate salesSeaside Vacations vacation rental homesSince 1990
Oceanfront- No homes or buildable lots between the home & the ocean. Semi-Oceanfront- Semi-oceanfront homes are located one lot back from the ocean and may or may not require crossing the road. The distance to the water, beach accesses, and views vary. Oceanside- These homes are located east of the "Beach Road" (Route 12) and there are no primary/major roads to cross. These homes have two or more homes between them and the ocean. These homes may or may not have an ocean view and the distance to the ocean varies.
4 Similar Corolla Homes Used for Comparison:All Sold Since January, 2012 Normal Sales No Foreclosures or Short Sales Comparable Size, Amenities, & Condition
COROLLAOCEANFRONTAddressSq. FootageDate SoldSold PriceSold $ Sq. Ft#Bedrooms#Baths2011 Rental Inc2011 High Weekly $# Weeks Rented787 Columbia Road39194/10/2012$1,200,000 $308.75 66.5$101,500 $7,800 21501 Sandbucket Arch32003/22/2012$1,265,000 $395.31 66.5$105,213 $7,630 22AVG 3560$1,232,500 $352.03 66.5$103,357 $7,715 21.5 TWO BACK FROM OCEANFRONT AddressSq. FootageDate SoldSold PriceSold $ Sq. Ft#Bedrooms#Baths2011 Rental Inc2011 High Weekly $# Weeks Rented981 Whalehead Drive41003/20/2012$765,000 $186.59 77.5$59,137 $5,795 26506 Breakers Arch39323/9/2012$850,000 $216.17 75.5$67,020 $6,255 18AVG4016$807,500$201.3876.5$63,079$6,025 22
Sq. FootageDate SoldSold PriceSold $ Sq. Ft#Bedrooms#Baths2011 Rental Inc2011 High Weekly $# Weeks RentedOCEANFRONT VALUE vs. 2 BACK89%153%175%86%100%164%128%98%
Comparison of Similar Corolla Properties Sold Since January, 2012Oceanfront787 Columbia Road6 BR / 6.5 BAPrivate Pool & Hot Tub501 Sandbucket Arch6 BR / 5.5 BAPrivate Pool & Hot Tub
AddressSq. FootageDate SoldSold PriceSold $ Sq. Ft#Bedrooms#Baths2011 Rental Inc2011 High Weekly $# Weeks Rented787 Columbia Road39194/10/2012$1,200,000 $308.75 66.5$101,500 $7,800 21501 Sandbucket Arch32003/22/2012$1,265,000 $395.31 66.5$105,213 $7,630 22AVG 3560$1,232,500 $352.03 66.5$103,357 $7,715 21.5
Comparison of Similar Corolla Properties Sold Since January, 20122 Back from the Oceanfront981 Whalehead Dr.7 BR / 7.5 BathPrivate Pool & Hot TubNo Ocean Views506 Breakers Arch7 BR / 5.5 BAPrivate Pool & Hot TubOcean View from Open Space
AddressSq. FootageDate SoldSold PriceSold $ Sq. Ft#Bedrooms#Baths2011 Rental Inc2011 High Weekly $# Weeks Rented981 Whalehead Drive41003/20/2012$765,000 $186.59 77.5$59,137 $5,795 26506 Breakers Arch39323/9/2012$850,000 $216.17 75.5$67,020 $6,255 18AVG4016$807,500$201.3876.5$63,079$6,025 22
Oceanfront. Fragile Magic 10/20 = $2,150
No ocean view. Panasea 10/20 = $1,195
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