OBX house not selling

[Anonymous]

Could someone give me some insight on why this house may not be selling? I want to buy down here but I noticed so many homes sitting. Thanks!

https://www.zillow.com/homedetails/838-Lighthouse-Dr-LOT-21-Corolla-NC-27927/2052984750_zpid/

[Anonymous]

It’s huge, expensive, dated, a crappy yard, bad photos don’t tell me where the water is, it’s just blah. You either need to renovate it to live there or rent it. Nobody has 2 + million to waste on a rental when the rental market is saturated already.

[Anonymous]

It's over 2 million dollars and looks like a fancy rental.

[Anonymous]

Anonymous wrote:It's over 2 million dollars and looks like a fancy rental.

Yes we were hoping to rent out at some point. Do you think it’s overpriced? Houses are sitting there and now I’m rethinking this area.

[Anonymous]

We used to own in the OBX. Home prices there are a bargain by comparison and always will be for the obvious reason that it is simply too big of a pain in the ass for people to get there from any of the major metropolitan areas. For the same reason, the area is also more prone to wild fluctuations in homes values closely related to the economy, because few people they have true second homes. They are almost all rental properties. And now with climate change the area is more vulnerable geographically.

[Anonymous]

It has dated, cheap-looking finishes and appears to be a rental property that has probably been used hard.

[Anonymous]

Looks like a giant headache. Save yourself the stress of a vacation rental that might wash away at any time, and put your money in an index fund.

[Anonymous]

So dated.

[Anonymous]

Anonymous wrote:It’s huge, expensive, dated, a crappy yard, bad photos don’t tell me where the water is, it’s just blah. You either need to renovate it to live there or rent it. Nobody has 2 + million to waste on a rental when the rental market is saturated already.

I would not say the market is saturated, but I do think with the economy tanking next year, there will likely be less demand.

[Anonymous]

The interior is *extremely* dated, for one. If the furnishings seemingly haven't been touched in 20 years, one has to wonder if the house's more-important systems haven't been updated, too.

It could be that the owners aren't in any rush to sell but simply keep the for-sale sign up to signify that they'll always listen to offers.

The owners seemingly have no problems renting it out, tho. It's booked until late September. Gets good reviews:

https://www.twiddy.com/outer-banks/corolla/whalehead/rentals/sunlight/

[Anonymous]

1. Not on the beach. Too $$ for Off-beach property.
2. Too big.
3. Small lot.

[Anonymous]

Why cram the pool into the side of the lot when you have a giant patch of unused scrub lawn in the back? I mean, I get that they probably didn't have to do much to the house when they bought it in 2022 to make a lot of money renting it out. But trying to sell a dated, poorly laid-out house like this is another story.

[Anonymous]

It would be like throwing $2 million into the ocean, because one day soon that's where it will be. Underwater.

[Anonymous]

Too many homes in that area for rent. I’d keep looking elsewhere.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s huge, expensive, dated, a crappy yard, bad photos don’t tell me where the water is, it’s just blah. You either need to renovate it to live there or rent it. Nobody has 2 + million to waste on a rental when the rental market is saturated already.

I would not say the market is saturated, but I do think with the economy tanking next year, there will likely be less demand.

Why would you think the economy would tank? There are no indications of that for 2026. People thinkt he world is falling apart but the economy is quite strong.