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OBX real estate prices in the old days

OBX real estate prices in the old days





Being the old guy that I am, I enjoy hearing about the low prices of the past for everything from lunch to real estate. I enjoy looking at old menus from restaurants, and I also like hearing about how inexpensive property was in the old days.

On the recent tiny house thread, I was surprised to see an estimated price of $85,000 on the building permit. I was born in 1949. Here is what $86,000 could get you on the Outer Banks at that time.

Click to follow link...




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RE: OBX real estate prices in the old days




My uncle convalesced in Hatteras village in late 1968-1969 recovering from burns he received in Vietnam. He would get a ham sandwich or a egg sandwich from the red and white and go walk in the salt water that helped heal the burns on his lower body.
Two sisters were always in there and asked him one day if he was going to stay on the island. He said he was not sureand it depended on how well he healed up but knew he had another 9 months. They tried to sell him 1/2 acre lots in what would become Brigands Bay on the sound for $3,900 . he said "no way too many bugs back there".
fast forward 10 years and my parents bought a lot there for $16K.
Fast forward to 1999 and my wife and I bought a lot for $72K
A lot now ( on Kings Point Dr) now goes for $225,000.......


RE: OBX real estate prices in the old days




My uncle convalesced in Hatteras village in late 1968-1969 recovering from burns he received in Vietnam. He would get a ham sandwich or a egg sandwich from the red and white and go walk in the salt water that helped heal the burns on his lower body.
Two sisters were always in there and asked him one day if he was going to stay on the island. He said he was not sureand it depended on how well he healed up but knew he had another 9 months. They tried to sell him 1/2 acre lots in what would become Brigands Bay on the sound for $3,900 . he said "no way too many bugs back there".
fast forward 10 years and my parents bought a lot there for $16K.
Fast forward to 1999 and my wife and I bought a lot for $72K
A lot now ( on Kings Point Dr) now goes for $225,000.......

Alexy


Wow! Neat story about your uncle and his service! Bless him.
We are in Brigands and ride our bikes throughout the neighborhood daily and look at the flyers at the lots. Just cannot believe the prices!


RE: OBX real estate prices in the old days




My uncle convalesced in Hatteras village in late 1968-1969 recovering from burns he received in Vietnam. He would get a ham sandwich or a egg sandwich from the red and white and go walk in the salt water that helped heal the burns on his lower body.
Two sisters were always in there and asked him one day if he was going to stay on the island. He said he was not sureand it depended on how well he healed up but knew he had another 9 months. They tried to sell him 1/2 acre lots in what would become Brigands Bay on the sound for $3,900 . he said "no way too many bugs back there".
fast forward 10 years and my parents bought a lot there for $16K.
Fast forward to 1999 and my wife and I bought a lot for $72K
A lot now ( on Kings Point Dr) now goes for $225,000.......

Alexy


My dad always said real estate was a good investment. Even if the building burns to the ground, the land will still be there.


RE: OBX real estate prices in the old days




In the very late 80s I could have had an Oceanfront 2 Bedroom in KH for $69K. Should have grabbed it. House is still there about 4 MP. Was called the Hyatt. Still there remodeled. Waited 3 years and bought KH Westside 3 BR, on 15.1K Sq ft lot for $85.


RE: OBX real estate prices in the old days




Absolutely amazing thread!

Comes back to the old adage, "they don't make land anymore".


RE: OBX real estate prices in the old days




I was stationed at Camp LeJeune "75-77. Had the opportunity to buy lots on Top Sail for 5K.
Passed on the chance, Navy Lt.s just didn't earn enough. Course I had just worked for 4 yrs while in grad school at a liquor store for $ 1.75 /hr.
Emerald Isle was scrub brush,


RE: OBX real estate prices in the old days





Emerald Isle was scrub brush,

Fergie


Ha! Similar experience...I'm in FL (early '80's) I'm hitting with this guy, we get to talking afterwards; turns out he's a RE developer. Anyway he asks me if I am open to investing in the proverbial "once in a lifetime" opportunity. Uh huh.... just had our first child, I'm still slogging away at the whole work thing and we had just survived a financially challenging decade. He goes on about the perfect weather (Hawaii "like" were his words), that while there are a few properties there already, it is a "ground floor" opportunity. I ask the name of the place...he had to repeat it several times because 1) I'm kinda dense sometimes and 2) it was a Native American name, but different "inflection" than what I was used to. He said some OF lots were still available for under $10k and others for around $5k. May as well have been a zillion and I was not yet comfortable with borrowing any money. It was Kiawah in SC..."ya snooze, ya lose"....


RE: OBX real estate prices in the old days




We remember looking at the BD&A commercials for Pine Island when they were first building them,starting in the 400's. Who would buy that we thought.


RE: OBX real estate prices in the old days






My dad always said real estate was a good investment. Even if the building burns to the ground, the land will still be there.

Greg MD


You need to look into the 51% rule and it says you might not be able to rebuild which means the lot has little value now. And it does not "have to be" oceanfront or soundfront.


RE: OBX real estate prices in the old days




"Emerald Isle was scrub brush"

My father was in the Army Air Corps during WWII. One of his last stops before heading to the Pacific was Myrtle Beach. He said there wasn't much there but a grass landing strip and what looked like scrub and swamp from his plane. Even as late as 2011 he said it wasn't his idea of a vacation destination.

The city gave the Army a huge amount of land including the city's two grass air strips. After the war the city got an airfield back.
By 1943 the Myrtle Beach Army Air Field consisted of approximately 5,000 acres of owned and leased land.








RE: OBX real estate prices in the old days




Just to clarify Tim, daddy said land, not sand. Sand may not always be there.


RE: OBX real estate prices in the old days




We remember looking at the BD&A commercials for Pine Island when they were first building them,starting in the 400's. Who would buy that we thought.

Tburg


I remember those adds...they used to scroll on that access channel. To be honest, we used to make fun of that smarmy voice,..."Bob DeGabrielle and Associates..." I hadn't thought about that in quite a while and thought I would see what old Bob is up to now, since you don't see him 'round here, no more

I was in for a big surprise. If you don't already know the answer, you have to read this. There are other articles but I can't open them here at work, because they are blocked by the server. There's a teaser for you.

Click to follow link...


RE: OBX real estate prices in the old days




We remember looking at the BD&A commercials for Pine Island when they were first building them,starting in the 400's. Who would buy that we thought.

Tburg


I remember those adds...they used to scroll on that access channel. To be honest, we used to make fun of that smarmy voice,..."Bob DeGabrielle and Associates..." I hadn't thought about that in quite a while and thought I would see what old Bob is up to now, since you don't see him 'round here, no more

I was in for a big surprise. If you don't already know the answer, you have to read this. There are other articles but I can't open them here at work, because they are blocked by the server. There's a teaser for you.

Click to follow link...

CoolBreezeKDH


HA! Thanks for sharing. Who woulda thought!


RE: OBX real estate prices in the old days




We ran across a TV show with Bob out west being a pot farmer now,whole segment and was interesting ,,turns out it was on 60 minutes

www.westword.com/marijuan...


RE: OBX real estate prices in the old days




I remember seeing that on 60 minutes. The only video I can find online is this one where you have to join.

Click to follow link...


RE: OBX real estate prices in the old days




I was stationed at Camp LeJeune "75-77. Had the opportunity to buy lots on Top Sail for 5K.
Passed on the chance, Navy Lt.s just didn't earn enough. Course I had just worked for 4 yrs while in grad school at a liquor store for $ 1.75 /hr.
Emerald Isle was scrub brush,

Fergie


I was a Coast Guard lieutenant in 1978 and bought an oceanfront lot in Frisco at the end of Shoresurf Ln. $27,500/$5,000 down,$500 a month for 5 years. Even though military pay is 3 to 4 times higher now than then, there is no way a junior officer would be able to do that now with today’s prices. My guess is that the property would be 25 times that much now.






RE: OBX real estate prices in the old days





Emerald Isle was scrub brush,

Fergie


Ha! Similar experience...I'm in FL (early '80's) I'm hitting with this guy, we get to talking afterwards; turns out he's a RE developer. Anyway he asks me if I am open to investing in the proverbial "once in a lifetime" opportunity. Uh huh.... just had our first child, I'm still slogging away at the whole work thing and we had just survived a financially challenging decade. He goes on about the perfect weather (Hawaii "like" were his words), that while there are a few properties there already, it is a "ground floor" opportunity. I ask the name of the place...he had to repeat it several times because 1) I'm kinda dense sometimes and 2) it was a Native American name, but different "inflection" than what I was used to. He said some OF lots were still available for under $10k and others for around $5k. May as well have been a zillion and I was not yet comfortable with borrowing any money. It was Kiawah in SC..."ya snooze, ya lose"....

OceanBlue
I stated on Kiawah Island for business. Beautiful place. I was involved with the chief security officer for three days and asked him about making a reservation for my wedding anniversary. My wife and myself would come down on my motorcycle in May. He told me that we were welcomed but that the motorcycle would have to be parked in a shed provided by the company on the mainland. We would be picked up by a courtesy golf cart and taken to our rental or anywhere else on the island for the three days that we planned to be there. NO motorcycles allowed on the island. Too exclusive for us and we passed. With that said, I would encourage anybody to go. It makes Duck look like a trailer park. It's pronounced: Key-a-wha.


RE: OBX real estate prices in the old days




My uncle convalesced in Hatteras village in late 1968-1969 recovering from burns he received in Vietnam. He would get a ham sandwich or a egg sandwich from the red and white and go walk in the salt water that helped heal the burns on his lower body.
Two sisters were always in there and asked him one day if he was going to stay on the island. He said he was not sureand it depended on how well he healed up but knew he had another 9 months. They tried to sell him 1/2 acre lots in what would become Brigands Bay on the sound for $3,900 . he said "no way too many bugs back there".
fast forward 10 years and my parents bought a lot there for $16K.
Fast forward to 1999 and my wife and I bought a lot for $72K
A lot now ( on Kings Point Dr) now goes for $225,000.......

Alexy

BUGS....LOL A common complaint back then.
I remember my brother in law telling my dad about lots for sale on Hatteras when there was no such thing as vacation homes. Dad said no way. Before the knowledge of BUGS AND WIND DIRECTION. We could not go to South Nags Head or below to stay at a motel or motor lodge.
BITING BUGS! FLIES I THINK.
I dont remember prices.
I do remember my sister saying all the money we spent going down on vacation that dad should have just bought something.
Mon said it was more because Dad had only 1 week a year vacation back then and hurricanes that stopped him. We lived in PA.
After World War II, men worked like dogs with little benefits..





RE: OBX real estate prices in the old days




My parents bought their first lot in Salvo in 1972 for $5,000. After closing and on the way back to PA my dad just kept repeating that he had no idea how was ever going to pay it off since he was only making around $7,000/yr. Years later and after a lot of really hard work, they saved enough to build their home.

Prior to having the house, our biggest expense while camping on HI was ice for the coolers!



RE: OBX real estate prices in the old days




My parents bought their first lot in Salvo in 1972 for $5,000. After closing and on the way back to PA my dad just kept repeating that he had no idea how was ever going to pay it off since he was only making around $7,000/yr. Years later and after a lot of really hard work, they saved enough to build their home.

Prior to having the house, our biggest expense while camping on HI was ice for the coolers!

Fossilridge


1972. yes that would be around the same time my twenty something brother in law told my dad about the lots for sale. I know Dad looked west side and around Colington back then. He was always a Kitty Hawk person. I need to find the photos someday of the OBX with nothing much there.


RE: OBX real estate prices in the old days




My dad was not a camping person. Like I said many times. Motor lodges. The only reasons we went to Hatteras Island was to see the lighthouses, ride the ferry and I fed the birds bread and see where Blackbeard was killed on Ocracoke. We did take a trip all the way down to Cape Fear so I must have been on Portsmouth Island too when people lived there.


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