Dare County has a new homeowner!  Everybody welcome Representative Tim Spear to Dare County.  Mr. Spear and his wife, who live in Creswell in Washington County, just purchased a lovely home in Kill Devil Hills.

The couple will surely enjoy their new home.  It’s nestled in a nice secluded spot, one lot off the bypass, right across from K-Mart.

The house went under contract on December 30th and closed on February 3rd. It was purchased from Sun Trust for $307,500. The previous owner, John Hobbs, paid $535,00 for the house in 2005 but defaulted on the mortgage in 2009.

Wonder what brings Mr. Spear to Dare County?  Maybe he wants to be closer to his mentor.  Maybe he’s trying to convince the Dare County Democrat Party that he’d be  good replacement for Marc Basnight when he retires.  Remember, the Dare County Democrat Delegates most likely didn’t vote for Spear in 2006 when he was appointed to his seat after Culpepper’s resignation.  Basnight may have warmed up to Spear but the local Party leadership may have someone else in mind to replace Basnight.  Any thoughts, anyone, on who that might be?  To read a little more about how a replacement is appointed in the event of a resignation, check out the article linked above.  You can also read more musings on the topic of Basnight’s future resignation here.

Now this is all just idle speculation.  This house just might be another house added to the real estate portfolio of Mr. Spear who owns six properties in Washington County.  I’m sure the property has a fine rental record given its proximity to the  highly prized Outer Banks attractions of K-Mart and the Bypass.  Or maybe he’ll rent it out year-round.  You know the year-round rental market down here is just booming.   In any case, I’m sure it’s an investment that Mr. Spear hopes will pay big dividends in the future.