If you are a sunset person, then you will love Lake Norman.  Every evening offers a unique version of the photo above which I took recently at one of my waterfront listings.  Sometimes they offer a stunning contrast of the colors of a brilliant fire reflected in a dark layer of glass like this one.  Other times our sunset are soft pastel pinks, blues and yellows:

I have a special group of tools with me at all times when showing waterfront properties one of which is a tape measure to see how deep the water is at the dock and the other is a compass to determine exactly where the sun rises and sets. Some waterfront home-buyers definitely want sunsets while others want to avoid the afternoon sun and prefer sunrises.  With 520 miles of shoreline and myriad peninsulas, Lake Norman offers plenty of options for either of the above and everything in between!

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 this image of my Lake Norman photo wallpaper calender for May 2012. 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.

FREE $25 GAS CARD!

I need your HELP!  I would love to use one of your favorite photos depicting life here in Lake Norman.  (Optimum size is a landscape photo about 2MB or about 1600 x 1200 pixels). I will give a $25 Gas Card to anyone who provides a photo that I use as one of my monthly calendars.  If you’d like to submit a photo  or an idea for a future calendar, please send it to…

diane@dianeaurit.com

Articles of Interest

Lake Norman Relocation and Resource Guide

Lake Norman Sports (Participation) Resource Guide

How to get the Lastest Lake Norman News, Events and Coupon Savings!

Relocating to Lake Norman

 Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.  These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

Well, last month I wrote: “There is nothing better than a HOT Hot Sheet!”  But, you know what, I was wrong. TWO months in a row of HOT Hot Sheets is even better! Here are our numbers:

Lake Norman Real Estate’s Two-Week Hot Sheet

3/21/2012

* 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.  (March 7th – 21st).  As always, I have included the past 6 months so that you can put these numbers in perspective.

I created this additional chart comparing just the March Hot Sheets for the past 3 years to help put our March 2012 numbers in perspective with the past Marches, not just the past 6 months:

March Hot Sheet Numbers for the Past 4 Years

Highlights:

• New listings: While our new listings are up from the winter months, they are still lower than any March since I have been keeping these records. If you add our new listings to the 16 back-on-market we only had a total of 117 Lake Norman properties added to our housing inventory in the past two weeks compared to last March’s 127, 192 in March 2010 and 178 in March 2009.  As of this morning the total number of active listings in Lake Norman had increased from our all time low of 752 in January back up to 876 which is still extremely low historically.  The reason these low numbers are all good news is because keeping our inventory low will help stabilize our own Lake Norman housing market no matter what is happening in other areas or states.

• The number of properties that came back-on-the-market, most likely due to cancelled contracts,  remain historically low which is even more telling because the market is very active. Clearly sales are “sticking” better now. Compared to the past four March’s they are extremely low. While challenges continue related to securing financing due to tight restrictions on home loans by lenders, they are improving.  And, it appears that buyers are more committed than they have been in years.  (Although some remain very challenging!)

• The number of price changes, while up compared to the past few months, are down substantially from the past 3 March’s.  Considering sales are picking up, this would indicate that our prices are stabilizing and a continued decline may reflect a stabilizing of our prices.

• Pending home sales are actually the weakest category on this chart for the second month in a row.   This indicates our closed sales for the next 30 days may not be as strong as they will be further into spring. Pending home sales are contracts that have passed all of their conditions/contingencies/Due Diligence Deadlines and are just sitting ready to close.

• The number of closed sales reported in the past two weeks improved slightly from last month’s  and is more in line with our  late 2011 numbers.  They were sigificant;y higher than any March in the past four years.  So far this month 43 closed sales have been reported to our MLS compared to 34 last month,  21 in January,  33 in December, 37 in November, 47 in October, 29 in August, 55 in June, 45 in July, 44 in June, 30 in May, 50 in April, 34 in March and 20 in February 2010.  Considering all of these numbers, my best guess is that we will close about 70 – 80   home sales this month.

• Our Conditional and Contingent sales are slightly better than last month’s and simply HUGE when compared both to the past 6 months and the past March’s of 2009 – 2011. 52 new contracts in just two weeks of March is just plain exciting.  As the very most recent properties to go under contract, this further substantiates that our Lake Norman housing market is not just accelerating but, if sustainable, may truly be heading back up for good or at least stabilizing at higher numbers than the years since the recession hit us.  Each month will help to support this or undercut it and this m is the second month in a row with such strong numbers.

I have used the term  “erratic” for more than a year now when describing the nature of our 2011 Lake Norman real estate market.  The next few months may serve to enable me to eliminate this adjective once and for all or may bring it back in my vocabulary.  While this month our closed sales numbers will not be remarkable, the Lake Norman real estate market is definitely trending upwards right now.  With record low inventory, fewer price reductions/stabilizing prices and increasing sales, I’d say we are in for a very positive spring.

With our range of the months of supply of active listings at about 14.8 months using our 59 closed sales in February compared to the national average of 9.4 months and a balanced real estate market of 6-8 months, we clearly have a ways to go.  However, if we have 70-80 sales this month our months of supply will drop to 10-12 months. Improving national economic and jobs numbers and improving consumer confidence should help support the current healing of our Lake Norman housing market. I am encouraging my buyers to buy if they find a good home at a good price, especially waterfront homes.  While I don’t anticipate prices going up in Lake Norman this year, I also don’t see that many truly exceptional bargains. (Less than 8% of our inventory are distressed properties: foreclosures and shortsales).  Prices in general are low as are interest rates.  In my opinion, 2012 represents a great opportunity for potential Lake Norman home buyers.  Is that a light I see at the end of the tunnel?  Only time will tell!

Learn More About Life in Lake Norman:

Lake Norman Relocation Resources

Relocating to Lake Norman

Lake Norman Participation Sports Resource Guide

Lake Norman, Our Inland Sea

If you live on Lake Norman I don’t have to tell you that our lake levels have been uncharacteristically low since late summer; dropping down to 95.0′ on September 17th which is a full 3 feet lower than our  summer “target” levels of 98 feet.  And, you most probably have also noticed a sudden increase starting on November 16th bringing us up to our current level of 98.7 feet! 

I must admit I am baffled as to why Duke Energy, who manages our Lake Norman water levels, decided to drop them fairly suddenly during a time when our “target” levels were 98 feet and we were not in a drought.  One guess is that they were worried about the potential for Hurricane Irene’s high rain levels.  If any of you all know more, please leave a comment!

For those of you who are new to Lake Norman, the very best resource regarding Lake Norman water levels bar none is Duke Energy’s Check Lake Norman Water Levels website  which Duke Energy updates daily.  On this site you can get the actual lake levels of all 11 lakes that are part of the Catawba River System as well as the “target”” Lake Norman water level for that day, the minimum , maximum, range and any lake message updates.  They also provide a schedule of flow releases and other related data.

Lake Norman is a result of the damming of the Catawba River back in 1963 when the Cowans Ford Dam was completed.  It is part of Duke Energy’s power resources and provides electricity to the Piedmont Carolinas by using the McGuire Nuclear Station and the Cowans Ford Hydroelectric Station at the south end of the lake and the Marshall Steam Plant on the west side at Highway 150.  The water levels are controlled by Duke Energy and normally vary less than 5 feet.

The maximum level is called “full pond” which is 760 feet above sea level. Duke Energy considers full pond to be the “the point at which the water begins to spill over the flood gate spillway.” You will sometimes hear waterfront homeowners refer to the “760 line”.

On the Lake Norman Water Level charts, full pond is considered 100.0 feet.  Duke Energy purposely lowers water levels seasonally to anticipate rain or melting of the winter snows that feed the entire Catawba River system.

If you want to see today’s 13-Month Lake Level History chart for Lake Norman  on Duke Energy’s website you can see the daily water levels for the past year.

All I know is the lake looks awesome!

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Looking at a variety of local and state economic and business news is an important component of gaining insight into the future direction of our Lake Norman real estate market.  I collect such data from various news sources for several months and then share them with you in one blog post with the goal of helping you get a better understanding of the bigger picture in our area’s economy.  This stack of data shows some glimmer of hope:

• ISI Alams announced on 10/5/11 that they will be moving their headquarters and call center to Downtown Mooresville.  (From Concord). This move will include an expansion and, according to CEO Jayson Walker, will  employ about 150 workers within two years.

• Forest City Land Group has requested a rezoning of property on N.C. 801 in Mooresville for their Cotton Creek housing development; increasing the number of single family homes from 655 to 1,100.  While this is a long-term project, it is a positive sign to see developers moving forward with the planning and construction of new homes after years of inactivity and even shutdowns.

• “Facebook ‘likes’ North Carolina, and it’s investing here” according to a Charlotte Observer article on 10/5/11.  The first of Facebook’s 3-building data center is scheduled to go online in March, 2012 about 75 miles west of Charlotte.  The $450 million data center will serve the Eastern U.S. and Europe. This announcement “underscores state officials’ efforts to lure high-profile companies to North Carolina …with the help of incentives including our low-cost electricity, ready access to water and significant building incentives”.  Facebook will join Google, Apple, Time Warner Cable as part of North Carolina’s “data hub”.

• North Carolina ranks as Number 16 cyberstate according to The Triangle Business Journal on 10/10/2011.  TechAmerica Foundations’ annual report stated that North Carolina currently employs 145,700 tech workers.  North Carolina computers and peripheral equipment manufacturing which employs 11,000 ranks 4th nationwide after California, Texas and Massachusetts.

• North Carolina ranks 5th in corporate relocations according to another article in The Triangle Business Journal on 8/17/11. “An Atlas Van Lines migration study shows that North Carolina continues to rank among the strongest states in the country as a corporate relocation destination.”

• North Carolina was 8th in the “Top 10 States for Venture Capital” rankings according to an 8/9/11 article in The Triangle Business Journal.

• “Charlotte among Forbes’ top potential boom cities” was the headline of an article in the Charlotte Business Journal on 7/14/11.  Charlotte ranked 8th on the list “mainly because of its mild climate, low housing prices and relatively small size, which allows it to avoid transportation bottlenecks that strangle larger cities like Atlanta”.  They also considered the Charlotte Airport and Charlotte’s investment in its infrastructure.

• North Carolina is the second-least-expensive state for mortgage closing costs according to a new survey from Bankrate Inc.  I can support these findings as I hear this from many of my relocation clients who are very pleased when they find out their actual closing costs are so low!

• Charlotte ranked 47th in job increases out of all of the U.S’s metropolitan areas according to an article on 10/4/11 in the Triangle Business Journal.

RELATED ARTICLES

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Lake Norman Real Estate: Wow! A Lot of Good News!

My daughter and I had some fun with our pumpkins!

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!

Every year at this time the Lake Norman area comes alive with pumpkin patches, Corn Mazes,  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 Playground where you can enjoy hayrides, a corn pit, Tomato Slingshot, Duck Races and more!  See their website link above for more details.

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

Of course, it would not be Halloween without some fun, and even spooky events for all ages and Lake Norman is full of options!

• This year, Carrigan Farms’ Scarrigan Farms is supposed to be so scary that moms enjoying smores on the other side of the quarry can hear their kids screaming as they walk throw the haunted trail.  As they say on their website: This is not a trail for kids. If you’re under 12 come back when you’re old enough. We’ll be waiting. If someone hasn’t peed in their pants by the end of the night we know haven’t done our job. Come gather around the bonfires, at the well-known Carrigan Farms Rock Quarry, before or after you enter the haunted trail. Visit Scrarrigan Farms on Facebook.

• Ghost Tales in the Dark: October 14-15 & 21-22.  Take a candlelight tour of the Latta Plantation at night as you listen to ghost stories. For more information: Latta Plantation.

• Hoot and Howl: Carolina Raptor Center October 29, 2011 11 a.m. to 3 p.m.  Kraken Slime Creation Station,  Face Painting,  Spider Bingo,  Cookie Decorating,  Owl Masks,  Tie-dying (BYO T-shirt): Extra

• Downtown Davidson’s Halloween March on Main Street in Davidson. Friday,  October 28th 5-7pm. Free. Costumed characters of all ages are invited to march! 704.892.3349.

• Halloween Fun at Birkdale Village: October 31st: All ages will enjoy an afternoon of games, art, crafts, balloons and more including hay rides.  Birkdale Village in Huntersville from 4-6pm.  Free!

• Downtown Mooresville Annual Halloween Treat for Families: 3-5pm Oct. 31. Downtown will be crawling with little ghosts and goblins as businesses hand out candy and treats. 3 – 5pm.

• Downtown Statesville Trick or Treating: October 31th: 4-6pm. Downtown Statesville at Broad Street and Center Street.  Free!

• Haunted Statesville Tours!  Oct. 21-22 and 28-29.  Come if you dare!  This walking ghost tour is full of old stories and legends from Statesville’s past. Step beyond the beauty of Statesville’s historic downtown and discover its true haunted history–where tales of spirits, scary creatures, mysterious deaths and creepy alleys become real. Tours run October 21-22 and October 28-29* every half hour between 6:30 – 8 pm. Tickets are $10 per person or 4 for $35. Reservations are required. Special hayride tours only on October 29 at 6 pm, 7 pm and 8 pm. Hayride tour tickets are $10 each. Group rate does not apply. Hayrides provided by Stamey Farms.

• North Carolina Fright Factory, Uptown’s Largest Haunted House” located at the NC Music Factory September 30th -31st.

Did I miss anything?  Let me know and I will add your events to my list!

Have a GREAT and SAFE Lake Norman Halloween!!!