Lake Norman photos

Lake Norman Real Estate’s January 2011 Wallpaper Calendar is Here!

New Beginnings Lake Norman Real Estate Calendar January 2010

 

I wanted to take this opportunity to express my gratitude to all of you who read this blog…from past and future clients to those just interested in learning more about the Lake Norman real estate market…for making 2010 one of the very best years of my now almost 20 years in real estate.  I couldn’t have done it without all of your support.  Thank you so very much!

My New Year’s resolution is to help make your 2011 the best possible.   Here is a toast to new beginnings and the infinite opportunities that await us all!

Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman Real Estate: New Year’s Celebrations 2011

 Here is to new beginnings…2011 in and around Lake Norman!

Lake Norman New Years

 

Unlike my home town of Pasadena CA with the annual Rose Parade/Rose Bowl, Lake Norman and the greater Charlotte area don’t have one major New Years’ celebration.  Our public celebrations are, for the most part, found at local restaurants and entertainment venues spread throughout Lake Norman and Charlotte.  From 5-course dinners to rockin’ oldies bands, there truly is something for everyone.

The best sources for New Years Eve events in our Lake Norman area are LKNFun.com  and 704 Events.com which are websites devoted to entertainment and dining information in the greater Lake Norman area.

The best way to find out what is happening in Charlotte is to pick up a free copy of Creative Loafing or go to their new website clclt.com or go directly to New Years Events. They even do hourly updates on their Food and Drink section.

Here are few highlights to wet your appetite:

 First Night Charlotte : Arts / Museums,Community,Festivals, Holidays, Just For Seniors, Kids, Live Music, Night Life, Teen
Date: December 31st and January 1st.

Queens Landing:  Joker’s New Year’s Eve Bash, New Years Cruise

Whether you enjoy a quiet celebration at home or party all night, I wish you all a  safe and Happy New Year.

Here’s to a happy, healthy and prosperous 2011!

Diane Aurit's Signature

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2010 Hot Sheet

It looks like Lake Norman is finally showingsigns of our usual seasonal slowdown after a couple of relatively strong months.  As expected, our closed sales so far this month are better than late summer and even last month but as you can see below, our most recent activity reflects an easing of all categories:

Lake Norman Real Estate’s Two-Week Hot Sheet

12/07/2010 –12/21/2010

  The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (Dec. 7 – Dec. 21st).  As always, I have included the past 5 months so that you can put these numbers in perspective.

Highlights: Continue reading

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lake norman real estate

Lake Norman Real Estate: Are We Getting the Year-End Bump?

 

There are some fascinating numbers and micro trends going on right now in our Lake Norman real estate market.

As was the case last December,  the current MLS data suggests we are in for a pretty good month. But, let’s take a closer look:

  • Many banks want their shortsales and foreclosures off their books by the end of the year.  I have a waterfront shortsale listing where we have had a low-ball offer sitting on the table for quite a while until suddenly two days ago the bank said to take it if they will close by December 31st.
  • We have closed 38 sales already this month and have 83 Pending sales which may lead to even higher sales than last December’s 70 and definitely much stronger than December 2008’s 58 and December 2007’s 64.
  • I just took a look at the list of our Pending sales and was surprised to see how many of the waterfront properties that have been sitting for several years are now under contract!  We are definitely clearing out our inventory of waterfront homes and few new ones are coming on to take their places.
  • There are currently 32 Crescent Community homes under contract the most impressive being 12 in The Point!  8 of these 12 are $800,000 – $1673,000.

I have been telling my waterfront buyers that this winter is the time to seriously consider getting off the fence and I feel this more strongly today than ever.  Interest rates are creeping up, our overall Lake Norman inventory of active homes for sale is down to a low of 1114 and is still falling, and many of the homes that have been sitting on the market for years are now selling.

My concern is that even if our market continues to struggle through 2011 and into 2012 that there simply won’t be many “bargain” waterfront homes with good water left to choose from.  Even now there are slim pickings in some price ranges compared to last year at this time.  My gut is saying: Carpe Diem!

Related Articles

Lake Norman, Our Inland Sea 

Lake Norman Relocation Resources 

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2010 Sales Analysis

Despite a pretty rough month of economic news, here in Lake Norman we actually had some news to be thankful for in November!

As I anticipated last month based upon the higher numbers for Conditional and Pending home sales in our Lake Norman area, we posted some relatively strong numbers in November when compared to last year and even the year prior to that:

The total number of Lake Norman single family homes under contract (but not yet closed) on November 30, 2010 totaled 169 which is a drop of 13% from last month’s high but still 8% higher when compared to August’s and July’s numbers of  157, equal to June’s 169  and 15% below May’s closings.

Here are the details: Continue reading

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Lake Norman News, Events and Celebrations

“Christmas in Davidson” is December 2-4th 2010!

 

Horse Drawn Carriage at Christmas in Davidson

 Yikes, I nearly missed “Christmas in Davidson”!  This is truly one of the very best events in our Lake Norman area celebrating the holidays.  It actually started last evening but runs through Saturday evening so you still have time.  Held from 6pm – 9pm, this very local, old-fashioned celebration is great fun for the whole family.  Here is a list of just some of what you will experience:

  • Main Street will be filled with the sounds of carolers and other live music
  • Carriage rides
  • Santa Claus will visit with children each night at the library
  • “Taste of South Main Street” will feature treats from Restaurant X, Campania, and Fuel Pizza
  • The Doggie Fashion show is back, tonight, Friday, on South Main St
  • A large tent on the Village Green will offer lots of artists and venders selling holiday crafts and gifts
  • Local merchants are offering their own special events as well

Trollys will shuttle visitors from the Exit 30 parking area to Downtown Davidson.

For more information:  Christmas in Davidson

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Lake Norman photos

Lake Norman Real Estate’s December Calendar is Here!

Lake Norman Real Estate's December 2010 Calendar

December is a peaceful month on Lake Norman.  Most of our deciduous trees have gone dormant so the homes along our shorelines are now more visible and those of us with “seasonal water views” can now look out our windows and enjoy the beauty of our Lake Norman every day!

I hope you all have a wonderful, safe, and happy holiday season! Continue reading

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lake norman real estate

Lake Norman Real Estate adds new “Absorption Rate” tool!

Lake Norman real estate, months of supply

Now YOU can calculate the “months’ of supply” data for just about every neighborhood in the Lake Norman area right here, 24/7!

If you look  on the homepage under Lake Norman Real Estate Tools , you will see a new button: Calculate Months of Supply.  When you click on this link you will find a blank box where you can type in any neighborhood or subdivision found in our Charlotte  Regional Multiple Listing Service.  Once you start typing it will auto-prompt some options for you.  When you are finished, simply click on “Show me Stats” and up will pop a chart with the number of sales, the number of active listings and the months of supply.  VERY COOL!

If you are a regular reader, you will know that I calculate the “months of supply” or what is officially called the “absorption rate” of our Lake Norman housing market every time I do any kind of market analysis. This is because it is one of the best barometers of any real estate market, locally or nationally.

 Simply put, the Absorption Rate is a basic mathematical formula used to determine how many months it will take to sell the current number of active listings based upon the present rate of sales.

Economists say that a balanced housing market should have 6-8 months of supply of active listings. An absorption rate higher than 8 months would indicate a buyers’ market.  An absorption rate lower than 6 months would indicate a sellers’ market. 

How to manually calculate the absorption rate:

Take the number of homes currently on the market and divide by the most recent 30-day number of sales.

Example:

Our number of currently active listings in Lake Norman is 1150.  We sold 65 homes this month so:

1150 divided by 65 = 17.7 months of supply

Clearly in this example we are in a very strong buyers’ market.

If you have any questions please feel free to email me:  diane@dianeaurit.com.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2010 Hot Sheet

After a pretty weak summer for our Lake Norman real estate market, we have recently experienced some unexpected improvements.  We opened the month of November with a marked increase in Conditional and Pending home sales indicating that our Lake Norman closed home sales for November and December might exceed our 2009 numbers.  As you can see below, our closed sales so far this month are, in fact, second only to last May.  And, our newly opened contracts, the Conditional and Contingent sales, remain fairly stable as well.  A small glimmer of hope that perhaps this winter will be better than many expected.

Lake Norman Real Estate’s Two-Week Hot Sheet

11/08/2010 –11/22//2010

 The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (Nov. 7 – Nov. 21st).  As always, I have included the past 5 months so that you can put these numbers in perspective.

Highlights: Continue reading

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Historic Downtown Mooresville, Lake Norman News, Events and Celebrations

Mooresville’s Christmas Parade 2010

Christmas Parade in Mooresville

 Mooresville’s Christmas Parade is before Thanksgiving?  Yep, it is this Tuesday, November 23rd starting at 3:30.  It is a long story, but I guess each town around Lake Norman and Charlotte was designated a different week for their parades and Mooresville ended up with the Tuesday before Thanksgiving!

This year is the 66th Annual Mooresville Christmas Parade which just keeps getting bigger and better every year yet organizers work hard to make sure it retains its ‘home town’ feel.  There will be 144 entries including floats and performers traveling down Main Street in Historic Downtown Mooresville starting at the Town Hall and heading south until about Wilson.  These will include 5 marching bands, Scout troops, dance schools, floats and Santa!

12,000 – 15,000  of our local residents come out each year to enjoy the fun so get there early, especially if you want a good spot in the heart of Downtown.

Be sure to bring a toy for Toys for Tots who will have a collection location at Main Street and Moore Ave. from 1:30 – 6 pm

The Mooresville Christmas Parade is put on by the Mooresville Convention and Visitors Bureau.  For more information, call 704.662.8210.

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Lake Norman waterfront homes

Lake Norman Waterfront Home Sales Are Improving…Slowly!

Lake Norman waterfront home

With 520 miles of shoreline, waterfront homes are an important segment of our Lake Norman real estate market.  Before the recession hit, waterfront homes appreciated at a much greater rate than off-water homes.  Since the beginning of our recession, waterfront home sales dropped more significantly for the most part because of the fact that they are priced above the conforming loan rate ceiling of $417,000.

In 2010 about one-third of my sales have been waterfront and I would guess that more than three-fourths of my longer-term buyers are waterfront so I am fortunate enough to be actively participating in this segment of our Lake Norman real estate market which enables me to gain insight into micro trends as well as macro.

Last winter was probably the bottom of the waterfront housing market in terms of volume.  The hottest price ranges then were under $700,000.  However, this summer we saw a flurry of activity in the $800,000 – $1,200,000 which then slowed but seems to have picked up again in the past few days.

I decided it would be interesting to take a look at our waterfront home sales for the past three months and compare them to the same period of 2009:

As you can see, in the past three months our waterfront  home sale were 23% higher than in 2009.  And, the average sales price has increased 5%. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2010 Home Sales Analysis

There were a lot of scary things going on in our Lake Norman area besides Halloween in October!

This past month was full of fear about the short and long term future of the U.S. real estate market.  Fueled by the national foreclosure freeze by many of the major banks, pessimistic views about our national housing market were released by such pundits as Karl Chase of Case-Shiller who revised his more upbeat report from just weeks before to a more subdued one.  Mark Zandi, chief economist at Moody’s Analytics, who just a month ago predicted that a housing recovery would be underway by the third quarter of 2011, recently reported that “he now thinks the foreclosure scandal could prolong the housing depression for at least another few years” according to a recent article in Inman News.  The US Department of Housing and Urban Development released their October scorecard which concluded that the housing market was “still fragile” and that we have hit bottom in terms of sales but not prices.  Finally, the National Association of Realtors revised downward their 2010 prediction in a report released on October 4th projecting a 6.4% drop in existing home sales for 2010

But, there was some good news too, especially related to the future of our Lake Norman and North Carolina economy:

  • Forbes Magazine ranked North Carolina as the 3rd best state for business in America which is up from 5th just a year ago.
  • Statistics from the Federal Bureau of Labor and Statistics show that North Carolina is the 3rd best state for declining unemployment and 4th in the nation for job creation according to a press release from Governor Perdue
  • Site Selection Magazine named North Carolina the state with the TOP BUSINESS CLIMATE for 2010 touting our extensive higher-education resources, work-force training initiatives, moderate climate, transportation infrastructure and business-recruitment efforts according to an article in the Charlotte Business Journal on November 1.

So, exactly how did our Lake Norman housing market fare in October?

Lake Norman Home Sales Chart

The total number of Lake Norman single family homes under contract (but not yet closed) on October 31st, 2010  increased a whopping 24% when compared to August and July’s numbers of  157 , and experienced a 15% increase from June’s 169  and were only 3% lower when compared to the 200 at at the end of May.   While our closed sales dropped significantly in October, there are some clear signs that the next several months will be much stronger. Continue reading

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Lake Norman photos

Lake Norman Real Estate’s November 2010 Calender is Here!

Fall colors on Lake Norman calendar

November in Lake Norman is our last chance to see our beautifully treed shoreline with myriad green, red, yellow and orange hues.  Usually by Thanksgiving our trees are bare and our sleepy gardens offer just a few colorful plants and our indestructible pansies.  Today is another perfect, fall day with a high of 70 degrees and brilliant, Carolina Blue Skies! Continue reading

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Lake Norman News, Events and Celebrations, Relocating? Life in Lake Norman

New Restaurants and Retail News in Mooresville Lake Norman!

 

 

Driving around our Lake Norman community of Mooresville, you wouldn’t really know that there is a recession going on.  The widening of Brawley School Road and the new Exit 35 are now well under way, teasing us into thinking they will be completed before their scheduled summer of 2011. Bike lanes, side walks and landscaped center dividers are taking shape too!

While some of the big projects like Langtree at the Lake have yet to show signs of activity, a number of wonderful eateries and shops have opened or are due to open very soon:

Historic Downtown Mooresville is Happening!

  • The Bathtub Gin is considered “the destination” for local musicians and as a place to meet up with friends. Drop in at 166 N Main Street on Halloween!  (see my post on Halloween Happenings in Lake  Norman)
  • JJ Wasabi’s at 183 N. Main Street has been open for about 6 months and has added a lot of energy and great food to our Historic Downtown Mooresville.  Thank you Joel!
  • The Daily Grind, one of my favorites, has successfully opened their second location  at 170 N. Main Street. (Their first location is on Brawley School Rd at Canvasback).
  • Epic Chophouse will be the newest restaurant to open in downtown Mooresville.  Owned by one of the co-owners of Mickey and Mooch in Huntersville, It will be “a blend of upscale and casual fare…and an awesome value too”.  It is located in the old Soiree building and is supposed to open in a few weeks!

Continue reading

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lake norman real estate

Lake Norman Real Estate sets the record straight!

 

I was reading my daily real estate news from InmanNews.com yesterday (Friday, October 22nd) when I came across an error so ludicrous that I just wrote ZipRealty demanding a correction.  In the article: “Divide shrinks between ‘hottest,’ ‘coldest’ markets”, InmanNews summarized ZipRealty’s third quarter “Home Hunter Report” in which ZipRealty lists Lake Norman (Statesville) NC ZIP Code 28677 at the very TOP “of their coldest ZIP codes “with the lowest sales-to-list-ratios”.

Of course, anyone who knows Lake Norman well knows that 28677 is not one of our ZIP codes and that with the exception of a sliver of homes on the northeast corner of Lake Norman’s shoreline, Statesville is not associated with Lake Norman.

I did some research on our MLS, the very MLS that ZipRealty claims to have used for their analysis, and found these numbers:

  • In the third quarter of 2010 in ZIP code 28677 there were a total of 58 sales, only THREE of which were in our Charlotte MLS designated Area 13 for Lake Norman.  Most of the homes that sold in this ZIP code were actually in Historic Downtown Statesville which is MLS area 12/1.

 

  • The ZipRealty report claims that Lake Norman (Statesville), NC had an 87.4% average List to Sale.  They report that the average List Price for this area was $121,829 and the average Sale Price was $111,872.  Wouldn’t we love to have Lake Norman homes in this price range????

So, once I had established that ZipRealty’s numbers were totally wrong, I decided to figure out the actual numbers for our Lake Norman real estate market in the third quarter:

  • Lake Norman’s Average List Price was: $470,099
  • Lake Norman’s Average Sale Price was: $446,630
  • Lake Norman’s % of List Price was, in fact, 95.3%…a far cry from $87.4%!

This is yet another example of the risks of using national real estate news sources to evaluate our Lake Norman real estate market.  Yes, Case-Shiller and others are good resources for gaining a greater understanding of the big picture real estate trends but if one truly wants to evaluate the Lake Norman real estate market it is important to study our local MLS statistics and not rely on reports like this one by ZipRealty.

Okay, I’ll get off of my soapbox now:)

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2010 Hot Sheet

Lake Norman home sales have slowed significantly in the past few weeks after a bit of a rally. Several weeks ago I had spoken to a handful of the most active waterfront agents and we were pretty excited about the sudden burst of contracts of waterfront homes in the $900,000 – $1.4million price range.  Several homes even had multiple offers after sitting on the market for well over a year.

Unfortunately, what we had hoped to be a serious trend turned out what now appears to be an isolated blip on our screen.  As you will see from the charts below, our overall Lake Norman home sales have slowed down in the past two weeks.

Lake Norman Real Estate’s Two-Week Hot Sheet

10/07/2010 –10/21//2010

Lake Norman real estate hot sheet

 The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (Oct. 7 – Oct. 21st).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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lake norman real estate

How is the foreclosure freeze impacting Lake Norman Real Estate?

Lake Norman's freezing of foreclosures

 Last week I called our Centralized Showing Service to make appointments to show properties in our Lake Norman area for one of my buyers.  Two of the properties were foreclosures.  I got a call from one of the listing agents letting me know that I wasn’t able to show the property because the bank had pulled it off of the market that very day and that he had absolutely no idea what was going on.

I was able to show the second bank-owned property and my buyer wrote up an offer.  When I submitted it on the 13th (last Wednesday) I was told by the listing agent’s staff that they had no idea when we would hear back.  (Normally a bank will respond in 24-48 hours).  A few hours later I got a call for the listing agent telling me that the offer had been rejected and no offers would be reviewed or accepted until GMAC released the property.  He told me his crystal ball had fallen off his desk and shattered so he had no idea when it would be available.  At least he had a sense of humor about the whole thing!

This is the reality of most of the foreclosures in our Lake Norman real estate market.  Right now, foreclosures or REO (real estate owned) properties make up 18% of our Conditional Sales, 29% of our Contingent Sales, 35% of our Pending Sales and 20% of the closed sales in the past month. Will most of the active contracts be cancelled? Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman Area Halloween Happenings 2010

Lake Norman Halloween Pumpkins

 For 2011 Lake Norman Halloween Information go to:  Lake Norman Halloween Happenings 2011 

Lake Norman is a great place to celebrate Halloween.  From haunted houses to old-fashioned Main Street celebrations to costume parties and live entertainment at local night clubs there truly is something for everyone!  (Just so you know how genuine this article really is, my daughter and I carved the pumpkins above last year.)

Every year at this time the Lake Norman area comes alive with pumpkin patches, Halloween festivities for all ages and homes decorated to welcome all of our young trick -or -treaters.  Many of our subdivisions have their own neighborhood events but here are some more options:

If you are in search of a pumpkin patch:

  • Carrigan Farms: Hayrides to the pumpkin patch 9-4 Saturday and 12-4 Sundays through Halloween. Pick a pumpkin, visit the animals and have some fresh apple cider.
  • Patterson Farm: Pumpkin patch is open with tours through Nov. 6th and on weekends don’t miss Paw Paw Carl’s Palyground where you can enjoy hayrides, a corn pit, Tomato Slingshot, Duck Races and more!  See their website for more details.

Or, just look to any of our many local produce stands like Josh’s Produce Market on Williamson Road who are brimming over with pumpkins and decorations for your Lake Norman home! Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2010 Sales Analysis

This past month of September will not be terribly memorable for our Lake Norman area real estate market nor for our local economic news.  Our home sales continued to plod along however there are some signs that the worst may be behind us related to our overall local economy even though our housing market is still struggling:

  • Iredell County’s unemployment rate dropped slightly to 11.3% according to the North Carolina Employment Security Commission. (It’s high was 13.8% in February).
  • Mark Vitner, senior economist for Wells Fargo in Charlotte, predicts “The Charlotte region, including the Lake Norman area, will rebound faster than the nation as a whole from the economic downturn – although Charlotte area home prices will continue to drop until March 2011.”

So, exactly how did our Lake Norman housing market fare in September?

Lake Norman sales analysis

The total number of Lake Norman single family homes under contract (not yet closed) on September 30, 2010  increased 6% when compared to August and July’s numbers of  157 , and experienced a 2% decline from June’s 169  and a drop of 17% when compared to the 200 at at the end of May.

Let’s take a look at the details: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s October 2010 Calendar

Lake Norman October 2010 Calendar blue ridge mountains

After an unusually hot summer, Lake Norman is enjoying some much needed rain and wonderfully cool temperatures.  While Lake Norman is exceptionally beautiful in the fall, hugged by our abundance of hardwood tress in myriad hues of yellows, oranges and reds, October is also a perfect time to take the quick 90-mile drive up to the Blue Ridge Highway.  (Or, take the Great Smokey Mountain Train!).  The photo above is typical of the views along the Blue Ridge.  Continue reading

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Relocating? Life in Lake Norman

Lake Norman Real Estate’s Business of the Week: FreshBerry!

Lake Norman Real Estate's business-of-the-week

 

Freshberry Frozen Yogurt

 

All of us transplants to Lake Norman have a list of those special restaurants, markets, hot spots and businesses that we still miss from our prior home town or state.  Mine is kind of like a “Bucket List” and as the years go by I have been checking them off one by one:  Trader Joe’s, Five Guys (well, In n’ Out Burger but Five Guys is pretty darn close to it) Bed Bath and Beyond, healthy breakfast options (Daily Grind and Egg at Davidson), Whole Foods (well, the closest one is in Winston Salem but I count our Fresh Market in Cornelius), Neiman Marcus (I thought this was a priority until I realized that our casual Lake Norman lifestyle has deemed this almost obsolete), North Lake Mall.

 

FreshBerry Frozen Yogurt Cafe, (which is similar to PinkBerry who has several locations in Charlotte), was near the top of my daughter’s list so when I heard it had just opened in Mooresville sandwiched between Panera Bread and Starbucks on Williamson Road, we were there.

Freshberry does not serve your typical frozen yogurt that you would buy in any grocery store.  Freshberry serves all natural frozen yogurt available in FreshBerry Tart, Decadent Dark Chocolate, Vanilla No Sugar Added, Acai Berry, Classic Strawberry, Mango, and Pomegranate.  Plus, they have over 25 toppings available from fresh fruits and cereals to candies and nuts.  They have a complete nutrition chart available. Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman Denver Days, Amazing Maize Maze and more fall fun!

 

Fall in Lake Norman brings with it brightly colored trees along the shoreline, crystal clear “Carolina Blue” skies and an array of festivals, activities and even volunteer opportunities.

Our Denver Days fall festival  is back for its seventh year starting Wednesday, September 29th – Saturday, October 2nd 2010.  Created as a fundraising effort to raise money for the East Lincoln Rescue Park in Denver NC (Southwest corner of Lake Norman), they are still about 3 years away from being able to build this park.  So, come out and have a great time all the while supporting the community.  Denver Days offers carnival rides, great food, live music, entertainment, craft vendors, and even a beer garden. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2010 Hot Sheet

Lake Norman home sales in September in the past two years were actually higher than the August sales.  Unfortunately, from what our numbers are telling me, it looks like our 2010 September home sales in Lake Norman will barely keep pace with last month’s.

Lake Norman Real Estate’s Two-Week Hot Sheet

9/6/2010 –9/20//2010

Lake Norman Hot Sheet Chart

 The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (Sept. 6 – Sept. 20th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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lake norman real estate

Lake Norman Foreclosures, Shortsales, Green Homes: Search here!

Lake Norman’s Charlotte Multiple Listing Service made a exciting announcement this week and YOU are going to benefit the most!

They are officially expanding the currently allowable search parameters for consumers to include the following criteria:

Special Conditions:

  • Bankruptcy
  • Estate
  • In Foreclosure Process
  • Subject to Court Approval
  • REO (Real Estate owned or Lender Owned)
  • HUD
  • VA
  • Short Sale/Subject to Lender Approval
  • Relocation

And, for the growing emphasis on “Green” housing, they are also adding the following criteria:

Green Certifications:

  • LEED home
  • Energy Star
  • Environments for Living
  • EarthCraft House
  • NC Healthy Built Homes
  • NAHB( National Association of Home Builders) National Green Building Standard

Energy Efficiency Rating:

  • HERS (Home Energy Rating) Index

Every real estate website has a choice of what they will offer to their readers.  In keeping with my Lake Norman Real Estate’s effort to provide as much data on our Lake Norman housing market as possible, you will be able to search for all of the above criteria starting today, September 20th which is the first day it is available!

Don’t forget that you can search sales data by clicking on the “Research” button on each listing as well.

Progress is exciting!

RELATED ARTICLES

Lake Norman Real Estate’s How Green Is Your Home

Lake Norman Relocation and Resource Guide

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Lake Norman News, Events and Celebrations, Relocating? Life in Lake Norman

Celebrate at the Lake Norman Beer Festival this weekend!

Lake Norman Beer Festival

What better way (for adults) to enjoy the last of our Lake Norman warm summer weather than sampling ice cold beers?  This weekend, September 18-19, 2010 from 1pm to 8pm Galway Hooker in Cornelius is inviting all to join them “for a celebration of beers, bands and friendship”.

The Lake Norman Beer Festival will be showcasing over 20 craft beers from local, national and international brewers . All ticket holders will be entitled to an unlimited sampling of beers.  With this in mind, the Lake Norman Beer Festival is partnering with Dial-a-Designated Driver to provide safe rides home for those “looking to enjoy themselves responsibly”. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2010 Home Sales Analysis

You had to have been completely out of touch with the world not to know that this past month our US economic news was a bit bleak.  Talk of a double-dip recession was bantered about based upon weak numbers, most importantly jobs.

Here in the greater Lake Norman communities, particularly Mooresville, there are actually a number of new small business, restaurants and service providers.  And, according to Business Facilities.com   North Carolina ranks fourth in the US for Economic Growth Potential, sixth for Best Business Climate,  seventh for Biotechnology Strength and sixth for Biofuels Manufacturing Research Leaders.  They also ranked Charlotte 5th in their Top 10 of Metro Areas with the strongest Economic Growth Potential.

I am confident that our long-term future is very bright for our Lake Norman communities.  I wish I could say the same about our current housing market!

The most stunning and shocking news hit my email on September 3rd. Simonini Builders, one of our best and most forward thinking builders, unexpectedly announced they are “winding down” all of their current building and will not be taking any new orders for custom homes.  After much fanfare about their new Preserve at Robbins Park community representing the future of our Lake Norman housing including a focus on energy efficiency and smaller, more effective floorplans AND the fact that they are the only builder participating in our annual HomeArama featured in the September issue of our Lake Norman Magazine, it appeared that Simonini was going to lead our local builders out of the recession.  Instead they are closing their doors permanently.

August has been a relatively weak month of the year for Lake Norman home sales.  This past August our sales were almost flat compared to 2009:

Lake Norman sales analysis

The total number of Lake Norman single family homes under contract on August 31, 2010  were identical to our numbers of  157 when compared to the end of July, a 7% decline from June’s 169  and a drop of 15.5% when compared to the 200 at at the end of May.

Let’s take a look at the details: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s September 2010 Wallpaper Calendar is here!

Lake Norman calendar with sailboat

 Lake Norman is known for its remarkable sunsets.  As a matter of fact, many of my Lake Norman waterfront buyers will choose a west facing home just for the opportunity to enjoy daily, spectacular sunsets.

But, don’t under estimate our sunrises either!  I took this photo last fall early one morning.  As is sometimes the case, at dawn the lake is blanketed with a beautiful foggy mist.  (As in my photo below).  When the sun rises, the mist gives way to a crystal clear sheen as in my photo above.

Lake Norman sunrise

To make your desktop calendar, go to the round button at the top of this site’s home page entitled: “Lake Norman Calendar”.  Click on this button and up will come an image of my Lake Norman photo wallpaper calender for September 2010.  All you have to do is right click and select “set as background”.  If you would like a copy of this photo without the calendar, just send me an email.   Continue reading

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lake norman real estate

How are Lake Norman’s Crescent Communities Faring in 2010?

Entrance to The Point, Luxury Waterfront Lake Norman Community

 On June 10th, 2009 we got some stunning news regarding our Lake Norman real estate market.  Mega developer Crescent Resources LLC announced that they had filed for Chapter 11.  Crescent Resources, a joint venture between Duke Energy and Morgan Stanley Real Estate Fund, has been responsible for creating and developing Lake Norman’s most prestigious and popular communities including The Point, The Peninsula, The Harbour at The Pointe, The Farms, Sailview,Northview Harbour and their latest venture Falls Cove.

It wasn’t until July 15th 2010 that Crescent Communities broke their silence and sent out a news alert to Realtors announcing that they had emerged from their Chapter 11 Bankruptcy on June 9, 2010, touting their still developing communities of  The Point and The Farms and announcing some interesting changes and news regarding their struggling, newest venture, Falls Cove located north of Mooresville. Continue reading

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Lake Norman News, Events and Celebrations

Southern Ideal Fall Home Show is August 27-29, 2010

 After such an unusually hot summer here in the Lake Norman area when my free time has been spent nurturing my Wildlife Habitat Garden just to keep it alive, I am looking forward to being inspired once again by the Southern Ideal Home show being held at The Park (the old Charlotte Merchandise Mart) this weekend, August 27-29.

Better known for their magnificent Southern Spring Garden Show, this fall show will also offer”hundreds of experts and thousands of ideas for building, remodeling, landscaping or decorating projects for inside and outside the home all in one place.” according to an article on LakeNorman.com.

They will have a Cooking Stage for demonstrations from top chefs, wine sampling from North Carolina wineries and so much more!

For more information: 704.376.6594. Or email Mardee Woodward: mwoodward@southernshows.com

Hours:

Friday: Noon – 8pm

Saturday: 10.am – 7pm

Sunday: 10am – 5pm

Admission Prices

At the door:  Adults $9, Children under 15 free with adult

Seniors Day is Friday: $7  ($55+)

Check out their Facebook Page for more updates! : 

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 20, 2010 Hot Sheet

Our local Lake Norman homes sales this month are in step with the US’s rather lackluster housing market. After the bump this spring due to the tax rebates, our Lake Norman home sales have slowed down enough to seem unable to even match 2009 or 2008 sales numbers for the same time period.

Lake Norman Real Estate’s Two-Week Hot Sheet

8/6/2010 –8/20//2010

Lake Norman hot sheet

 

The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (August 6 – August 20th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Lake Norman waterfront homes

Lake Norman Waterfront Home Sales Analysis 8/15/10

Lake Norman waterfront home in The Point

 Due to the eclectic nature of our Lake Norman waterfront homes, it is very difficult to make broad brush assumptions and statistical analysis that are truly meaningful.  How do we compare a home at the end of a cove to one with main channel shoreline let alone a 1980’s cottage on a rustic road to a grand estate in The Point?  Even our waterfront lots vary in price from the $100,000’s to well over $1million.

That said, Lake Norman waterfront home buyers want to know as much as possible about our current waterfront home sales in order to determine when to buy and how much to offer.

My current and very general rule-of-thumb is that at our peak waterfront homes sold on average at about $300 per square foot depending on the age, condition, quality of water, location etc.  Today my rule-of-thumb average price is about $200 per square foot.

To offer my specifics, I pulled data from our Charlotte MLS for waterfront properties since May 1, 2010 ranging in price from $300,000 to $1,500,000 thus eliminating the extreme highs and lows.  Here are the results:

  Continue reading

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Just the facts about Lake Norman, Relocating? Life in Lake Norman

Life on Lake Norman From a Transplant’s Point of View!

Those of you who have been reading my blog for a while will know that I do write a lot about why I love living on Lake Norman.  However, this clever email I got from one of my clients recently pretty much says it all.  I hope you enjoy it as much as I do!

Diane,

You didn’t tell us we were living next to an airstrip with  low flying traffic.

Landing

Aborted Landing

Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2010 Sales Analysis

Lake Norman Sales Analysis

 Unfortunately, the number of Lake Norman home sales that closed in July underscores the impact of the housing tax credit expiration.  Not only did our volume of homes sold fall significantly short of last month’s 104, they also came in lower than July 2009.  In fact, July 2010 was actually the weakest July in Lake Norman home sales in at least the past 6 years!

  • The total number of Lake Norman single family homes under contract on July 31, 2010 dropped to 157 or 7% when compared to the end of June’s 169 which was a drop of 15.5% when compared to the 200 at at the end of May.  This is the third month in a row that our total combined sales contracts dropped when compared to the prior month.  This would further substantiate my prediction from last month that our closed sales have peaked for this season and perhaps for the rest of 2010.  This peak can most certainly be attributed to the home-buyers tax rebate program that initially expired on June 30th.  While the deadline was extended by Congress to September 30th, this only helps currently active contracts that were opened by April 30th.

Continue reading

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Relocating? Life in Lake Norman

Lake Norman Real Estate Reaches Out to Our Veterans!

About a month ago I received an email from James Kelly who writes a blog:  VA Benefits.  James wanted to know if I would allow him to do a series of guest posts focusing on subsidized housing financing for our veterans.  So, it is my pleasure to post this article on his behalf:

Written by James Kelly,

Coming home relieves our military members of their duties overseas. Even though the return is anticipated, certain challenges present themselves quickly. For thousands of veterans, getting proper medical care poses obstacles. But employment and housing don’t always come easy either.
A common effect of serving during war time, post-traumatic stress disorder (PTSD) causes a number of serious side effects. Nearly 150,000 veterans from the wars in Iraq and Afghanistan have been diagnosed with the disorder. Getting disability claims for PTSD was a chore until recent amendments from the Department of Veterans Affairs.

Veterans also come home looking for jobs and homes. As with any economic contraction, jobs aren’t abundant. Combine that with veterans adjusting to life at home, and getting hired seems less likely. Last spring, legislators recognized the struggles veterans face when searching for employment by introducing the Veterans Assistance Employment Act   to spur veteran employment. But housing still remains a challenge.

The VA has a program available to honorably-discharged veterans and qualifying active-duty members. Because of frequent relocation, military members may find it difficult to build credit or save money. The Veterans Affairs Home Loan Guaranty program accommodates these hurdles to help veterans find a home.

VA loans do not have income requirements, making them more accessible to veterans looking for work. A host of financial benefits come with VA loans, such as paying no money down. To buy a house worth up to $417,000—or higher in expensive markets—qualifying borrowers don’t put a penny down.
Other  loan advantages include:

  •  – Negotiable interest rates
  •  – No private monthly mortgage insurance
  • – Sellers covering up to 6 percent of closing and concession costs
  • – Refinancing options that can lower interest rates

Not all veterans qualify for the home loan program, but working with a VA-certified lender maximizes veterans’ benefits. A trustworthy lender will also aid veterans in finding an affordable home once they return from service.

The federal government has also developed a  new program designed by the VA and the Department of Housing and Urban Development to introduce new ways to prevent homelessness. This innovative joint federal program aims to get hundreds of homeless vets off the streets and into new homes in the next several years.

Finally, many military families are surprised that the federal first-time home buyer tax credit  remains available to them through April 30th, 2011, even though it is nearly expired for most other home buyers. As long as the qualified service member has a sales contract on April 30th, and has closed by June 30th, 2011, he or she will be eligible for up to $8,000 dollars in tax credits ($6,500 for repeat home buyers). This valuable program can do a lot to help a veteran and his or her family make a new home a reality.

All of these resources exist to help veterans overcome the housing challenge. When used in combination, these programs are a great tool in the fight to provide every American serviceman and servicewoman with a place to call home.

Thank you to James Kelley! To reach James with questions: james@vabenefitblog.com

IMPORTANT: Added 12/8/2012:

I just got an email asking me to add this important link related to Post Traumatic Stress Disorder: http://www.ptsdalliance.org/

This site provides great information, has numerous resources, and also discusses substance abuse treatment. Something that many other organizations fail to
recognize yet is a very common challenge people suffering from PTSD encounter.

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Lake Norman photos

Lake Norman Real Estate’s August 2010 Desktop Calendar is Here!

 Lake Norman Real Estate's August 2010 Calendar

 It is hard to believe it is already August!

Here in Lake Norman, August is the last month of our hottest weather and the final days for kids before school starts at the end of the month. After record heat in June and a number of pretty warm days in July, this first week of August is looking to be perfect weather to be out on the lake or even working in the garden. (Today it is only 75%!).  I hope all of you take time to sit back in a chair and simply relax.  Hopefully this photo is an inspiration for you to do just that! Continue reading

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lake norman real estate

Lake Norman Real Estate’s Business News Update July 2010

 

 

Every once-in-a-while I write an eclectic article for my readers with miscellaneous business and real estate news that has accumulated in a stack by my desk.  Here is just such an update!

North Carolina and Lake Norman Area Business:

  • North Carolina ranks fourth in CNBC’s recent survey:  America’s Top States for Business:  The Charlotte Business Journal ran an article on July 13th.
  • The Palm City Florida based firm Policom recently ranked the Statesville-Mooresville area 15th among 576 Micropolitans nationwide in terms of economic strength according to a recent article in The Statesville Record and Landmark Newspaper.
  • Today’s Mooresville Tribune says that the Iredell County jobless rate dropped to 11.6%
  • Lennar,one of the nation’s leading home-builders, recently announced that they will be building town-homes in a brand new community in Cornelius adjacent to Harborside.  It will be called Harborside At Lake Norman

Continue reading

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lake norman real estate, LKN Realty LLC

Lake Norman Real Estate’s Home Search has new features!

 For those of you who use our  home search function on this Lake Norman Real Estate site, you will notice a few improvements and additions this week!

Thanks to feedback from readers and the conversion of our Charlotte Regional Multiple Listing Service to “TEMPO 5” several weeks ago, we can now offer even better tools for your Lake Norman area  home search:

  • You can now search by “Subtype”.  If you are looking for a ranch, a two-story or various options like these, you can now narrow your search by choosing the subtype category
  • Master Bedroom Downstairs has been added to the “Features”  section.  For example, you can search for a waterfront property with a master on the  main level.  About 50% of home buyers in our Lake Norman area are looking for a Master on the main level!
  • Up to 16 photos per property are now available instead of the prior limit of 8.  Of course, the number of photos depends on the number the listing agent inputs into our MLS but this is a great improvement!

Please let me know if you have any other ideas about how to make our home search program better!

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Lake Norman Relocation Resources 

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 21, 2010 “Hot Sheet”

Given that it is 96 degrees out, I guess this analysis truly is “hot”!

As anticipated, all signs point to a significant slow down in our Lake Norman home sales this month after June’s strong numbers fueled by the Federal housing tax rebates.  Unfortunately, the Charlotte Multiple Listing Service, from whom I get the numbers for all of my reports, launched a new computer program last week so I’m afraid we may not be comparing apples to apples today but I have done my best to make the numbers below as accurate as possible.  One thing I do know is that our sales so far this month stand at 36, a full 36% drop from June.

Lake Norman Real Estate’s Two-Week Hot Sheet

7/7/2010 –7/21/2010

Lake Norman real estate hot sheet

 The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (July 7- 21th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman’s AquaPalooza 2010: The Ultimate Summer Celebration!

Lake Norman AquaPalooza by Sea Ray boats

 What better way to spend a summer weekend than on our beautiful Lake Norman?!  Want to share the day with a few thousand friends, a live, on-water band  and all sorts of fun?  Then check out AqualPalooza Lake Norman 2010 which is next Saturday, July 31st  from 11:00am – 5pm at the Midway Marina at the HWY 150 bridge.

What is AquaPalooza?  Basically it is a huge celebration; the largest boating event on Lake Norman this summer. According to their Facebook page, they already have over 350 boats and 2,500 guests registered to attend. AquaPalooza  “is the name given to a series of on-water celebrations held during the last two weeks of July at more than 100 locations around the world.  Each gathering features fun activities for family, friends of all ages!”.

The sponsor this year is Sea Ray of Lake Norman.  It is a free event which is open to all boaters featuring live music and “many giveaways”.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2010 Sales Analysis is Here!

Lake Norman real estate sales chart

 Just as I predicted, our Lake Norman home sales broke through 100 in June, thanks in good part to the June 30th deadline for the home-buyer tax credits.   Keeping this in mind, there are reasons to be cautious when assessing our current Lake Norman housing market:

  • The total number of Lake Norman single family homes under contract on June 30, 2010 dropped 15.5% to 169 when compared to the 200 at beginning of the month.  This is the second month in a row when our total combined sales contracts dropped in double digits when compared to the prior month.  This would leave me to conclude that our closed sales have peaked for this season and perhaps for the rest of 2010.  This peak can most certainly be attributed to the home-buyers tax rebate program that initially expired on June 30th.  While the deadline was extended by Congress to September 30th, this only helps currently active contracts that were opened by April 30th.

Let’s take a look at the details: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s July 2010 Wallpaper Calendar is Here!

 Lake Norman real estate Calendar

 Today is July 1st  and another wonderfully cool day in Lake Norman after several weeks of unusually hot weather.  This is ideal weather for all of our Lake Norman areas sports and recreation.  What a perfect day to be out on the lake boating, cycling, playing tennis, having a picnic with family and friends, and, oh yes, GOLFING.  I owe all of you avid golfers out there an apology because despite the fact that we have an amazing number of beautiful golf courses in and around the Lake Norman area, I rarely mention golf on this blog.   I have never played golf, perhaps out of a fear that I would get addicted to the game and I simply don’t have enough time to devote to a new sport.

So, in honor of all of you golfers I chose this month’s photo.  I hope you like it! Continue reading

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Just the facts about Lake Norman, Relocating? Life in Lake Norman

New Lake Norman Boating Safety Law Now in Effect!

Lake Norman Jet skier

 Lake Norman in the summer is truly a haven for all ages, but especially for kids.  Imagine the freedom and fun for kids as young as 12 must feel when driving their own Jet Ski or boat! It doesn’t hurt that the National Marine Manufacturers Association listed North Carolina, specifically their “Hot Spot”: Lake Norman, as #4 on their list of top 10 “on-the-water” destinations in the US!

A new North Carolina law that went into effect this past May 1, 2010 was passed to ensure our younger boaters are SAFELY enjoying their summer.  It is now mandatory for all boat operators 25-years or younger to pass a Wildlife Resources Commission boating safety class BEFORE heading onto the lake.  According to Senate Bill 43, “no person shall operate a vessel with a motor of 10 horsepower or greater in public waters of this State unless the operator has met the requirements for boating safety education.”  Operators age 25 or younger must carry proof of boat-safety certification…violators will be issued a citation, which requires a court appearance.

Here is a partial list of Lake Norman area boating safety classes:

Lake Norman Sail and Power Squadron

Lake Norman Marine Commission

Lake Norman Marina

If you are heading out on Lake Norman for the first time, no matter what age, it is a great idea to take this safety class and know the rules and regs of the lake.  Do you know what a no-wake zone is or how far from the shoreline you must be before you can go fast enough to make a wake?

It is also really easy for visitors and newcomers to Lake Norman to get disoriented once on the lake.  We always have on hand our lake map with all of the markers and services/marinas and we take a GPS.

For more information there is a great website: Lake Norman Boaters Guide.

Are you ready for the 4th of July?  It’s going to be a great summer…be safe!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2010 “Hot Sheet”

Well, I have good news and I have bad news….which would you like to hear first?  Okay, let’s go with the good news:  June home sales in our Lake Norman area are closing at a very brisk pace.  As a matter of fact, we are trending at about 30% higher than a year ago when we closed 87 sales in June 2009.  Will we break the 100 mark for the first time since July 2008 by the end of this month? I’m betting we will based upon the numbers below and what I am hearing from our stressed out closing attorneys.  Everyone wants to close by June 30th!

That brings me to the bad news.  Even if Congress extends the closing deadline for the Federal tax rebate that is currently set to expire on June 30th, the opportunity to open a new contract and qualify for a rebate is gone. The honeymoon will be over for our housing market and reality will set in just as we enter our seasonally slower fall months.

Lake Norman Real Estate’s Two-Week Hot Sheet

6/6/2010 –6/20/2010

Lake Norman Hot Sheet

 The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (June 6-20th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Relocating? Life in Lake Norman

Lake Norman Real Estate: Why a Screened Porch?

Lake Norman screened porch

When we moved to Lake Norman from Southern California in 2005 the last thing on our list of priorities in our home search was a screened porch.  (Other than sleeping porches in some historic estates, one just doesn’t see screened porches in California).  Our new home in Lake Norman had a small rear deck just large enough for a barbecue and a small table.  Over the years as we got more acclimated to our new life in Lake Norman, my husband and I started planning an expansion to our existing porch and then threw in an addition of a screened porch off of our breakfast room.

As you can see from the photos above and below, we finally completed our porch project early this spring.

While we knew we would enjoy it, we had no idea that our screened porch would literally change our lives! We try to spend several hours in the evenings every day just relaxing and enjoying the peaceful tranquility that epitomizes life in Lake Norman.  Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman 4th of July 2010: Plenty of Ways to Celebrate!

 Lake Norman Fireworks

 Note, for 2011 Lake Norman 4th of July events, please go to:  Lake Norman Real Estate’s 4th of July 2011 !

“From nostalgic patriotic parades to community festivals with firework displays to myriad planned and spontaneous raft- up (boat) parties on Lake Norman, there truly is something for everyone here in the greater Lake Norman area this 4th of July. Get out of your home, save gas and have a great time!”  I wrote this two years ago and it is still just as true this year.  So, here is the run down on Lake Norman’s 4th of July festivities 2010:

Saturday, July 3rd at 11:00am the 6th Annual Iredell County Independence Day Parade will be held on a 3-mile route from the Iredell County Fair Grounds ending at the Troutman Elementary School.  (Highway 21).If you want to experience a slice of true small-town Americana, this is a must attend parade.  The streets are lined with flags, yellow ribbons and folks of all ages, many with signs honoring our military past and present.  The parade itself  has over one hundred entries including floats with United States Veterans from all of our wars, local clubs and civic organizations, beauty queens and just about any thing you can imagine including at least one John Deere Tractor!  This year the Gold Star Mothers will be leading the way as the Grand Marshalls. Gold Star Mothers are those that have lost a son or daughter during their service to the United States. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2010 Sales Analysis

 Lake Norman sales analysis chart

 Once again this month, just as in April, to the casual observer, our Lake Norman May 2010 housing market report above might look very strong.  After all, inventory is down and contingent, conditional, pending and closed sales are up.

It is so important to put all statistics in context.  Yes, our sales are up and our inventory is down.  But, remember that April 30th was the deadline for opening sales contracts for the homebuyers’ tax credits with a June 30th deadline for closing.   Keeping this in mind, there are at least several reasons to be cautious when assessing our current Lake Norman housing market:

  • On May 1st we had a total of 227 contingent, conditional and pending sales (compared to 200 on May 31st) and they resulted in only 85 closed sales in May.  This means only 37% of the housing contracts that were active on May 1st actually closed in May.  Pending sales are ones that are just waiting to close .  So forgetting the conditional sales for a moment,  why did we only close 85 out of the 117 pending sales?  The answer lies at least in part to the number of canceled contracts due to the tough lending environment.
  • The number of Lake Norman single family homes under contract on May 31, 2010 was actually down 13.5% when compared to the beginning of the month.  Did our number of sales contracts peak in April?

Let’s take a look at the details: Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman Wine and Food Festival is this weekend, June 5-6th!

 Lake Norman Wine and Food Festival

As I have written many times before, life in the greater Lake Norman area and throughout North Carolina wouldn’t be complete without our many and diverse community festivals.

But, this weekend you won’t find funnel cakes or giant turkey legs, because this weekend we will be celebrating our local wineries and restaurants!

According to Lake Norman Wine and Food Festival, ” The event will include a number of distinct areas including: The Main Tent, wine lectures and cooking demonstrations; the Wine Reservoir, wine tastings from local wineries; the Restaurant Galley, small dishes from local restaurants; as well as Merchants area, regional vendors and boutique offerings.”

Wine lovers will have an opportunity to taste over 60 different wines from a dozen wineries including: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s June Wallpaper Calendar is for the Birds!

Lake Norman Heron photo

 Life in Lake Norman NC in June is all about the lake.  If you are a boater, skier, sailor or an enthusiast of myriad other water sports and recreation, most likely the lake will be your home away from home this month.

But there is another side of Lake Norman’s gifts to us lucky enough to live here and that is the flora and fauna; the wonders of mother nature.  Thanks to the growing efforts by Duke Energy AND many passionate residents, our lake continues to be home to an incredible array of wildlife, both furry and with feathers!

One of my favorites is the Blue Heron.  If you are lucky, you might see a Blue Heron walking along the shoreline or taking majestic flight like the photo above.  Continue reading

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lake norman real estate

Lake Norman Real Estate: Is Mooresville Really Bucking the Recession?

Lake Norman isn't following the leader!

The other day I was finally able to try out one of Historic Downtown Mooresville’s latest additions;  JJ Wasabi’s …”An Asian Grill with an American Flairwhich has the same great food and fun atmosphere as its highly successful big sister “Joel’s Asian Grill & Sushi”  located on the Lake Norman side of Mooresville.  As I watched the young, rather hip looking staff dart from table to table I was struck by the diversity of the diners and the vibrant atmosphere that had been lacking in Downtown Mooresville since long before I moved to Lake Norman in 2005.

I remember my husband and my’s very first visit to Mooresville.  It was 3pm and we couldn’t find one place to even have a sandwich in our Historic Downtown!  Today, thanks to the tireless efforts of  the Town of Mooresville, investor/developer Howard Kosofsky and other passionate local residents, JJ Wasabi’s joins other exciting new businesses that have recently opened in Downtown including a mouth-watering bakery:  The Whirling Whisk Baking Company (who has truly awesome pastries, cookies, cupcakes and more),The Bathtub Gin, (a happening nighttime hangout offering “Good times. Good drinks. Good Friends.” including live music and free WiFi!) and one of my favorite Lake Norman restaurants The Daily Grind which will be opening their second location on Main St. soon as well.  When I look down Main Street and note the many refurbished buildings, lively storefronts, sidewalk and street improvements it is hard to believe we are in a recession. Continue reading

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