One of the advantages of being a REALTOR is that I am constantly driving around, networking and reading so I am able to observe and hear about what’s happening and monitor the progress of our Lake Norman growth and development. Here are a few updates I thought I should share:
Langtree at the Lake has gotten approval from the Mooresville Town Commissioners to use a new form of bond financing for their portion of the public improvements required for this $800 million resort development. There will be several public hearings and more details to follow. What is important is to see that Langtree at the Lake is still progressing despite the economic slowdown.
Speaking of Langtree, the new traffic circle for the nearly completed Exit 32 is complete. And, the progress at Exit 32 is significant. This is a photo of the new traffic circle at Alcove and Langtree Roads.
The widening of Brawley School Road is progressing nicely. Here is a photo taken near where the widening begins at Chuckwood. So far the utilities have been moved, all trees and structures have been removed, and the drainage systems are just about completed. As you can see, the grading has also begun!
Meanwhile, our drought has not completely disappeared thanks to a lesser than normal amount of rain this past winter. Lake Norman is in the yellow which is “abnormally dry”. White means no dry conditions. They only update these maps on Thursdays so I am hoping this past storm will improve our drought classification!
According to an article in the Charlotte Observer on March 26th, The Charlotte Region is going to get $12.6 million for energy projects from the stimulus funds for energy efficiency and conservation projects. Details can be found at the EECBG Website.
North Carolina was given almost $208 million for weatherization and other energy programs according to the same Charlotte Observer article. “The weatherization program rebates as much as $6500 in upgrades to qualified homeowners who add insulation, seal leaks and install more efficient HVAC systems.” To apply go to the APPSI.EERE.ENERGY website. (I will be writing separately about energy audits and all of the financing and incentives available for energy efficiency upgrades/updates).
Finally, conforming loan interest rates have reacted favorably to The Federal Reserve’s announcements on March 18th regarding buying Treasury securities and increasing their purchases of mortgage and agency debt. Today I got word from one lender that they are at 4.75%!
Look for my first quarter Lake Norman Real Estate Sales Analysis and Market Report later this week.
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