If you haven’t checked out the Mooresville Town Square on the corner of Brawley School Rd. and Williamson Rd lately then you are definitely in for a great surprise! After a slow start thanks to the recession, it is now a happening place to go. With it’s upscale architecture, beautiful gardens and walking paths it reminds me a little bit of a Birkdale Village in it’s early stages. This 200,000 square foot “lifestyle center” offers great food, hangouts, shopping and services all walkable. Continue reading
Photograph Copyrighted by Cotton Ketchie
Yes, we do get a bit of snow here in the Lake Norman area!
Those of you who have followed this blog since 2007 will know that I have written about the schizophrenic nature of our Lake Norman communities along the east side of the lake where you will find the historic Main Street towns of Mooresville, (pictured above), Davidson, Cornelius and Huntersville on the east side of Interstate 77 and then the newer sides of these towns on the west side of I-77 along Lake Norman.
This gorgeous photo taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, captures the charm and small-town feel of Historic Downtown Mooresville so beautifully. On the right is the window of D.E. Turner’s Hardware Store which was opened in 1899 and where you can still buy an old-fashioned red wagon or ice cream churn for your children. The charming street lights and restored brick storefronts make one feel like they have traveled back in time to when cotton farmers made up the majority of the 3000 residents. (Thanks to growth, particularly on the Lake Norman side, the population has grown ten-fold since then.) Continue reading
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
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 Flair” which 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
Today is May 1st and another beautiful day in Lake Norman. Our weather is perfect, our gardens have been refreshed for summer and now it is time to get out on the lake and have some fun. This is why we all moved here!
Lake Norman truly comes alive in May. While I have been seeing many boats out already, the weather in May provides endless days with our Carolina Blue Skies, gentle breezes and mild temperatures. Quite a few of my clients are avid sailors so this photos is particularly for them and all of you sailors out there. Continue reading
On a rainy weekend in March more than 900, yes NINE HUNDRED, Lake Norman residents came together to make Hope Park at the Lowes YMCA in Mooresville a reality. According to several of my clients who volunteered, they did everything from assembling the custom designed swings, slides and climbing apparatus to painting flowers in cheerful colors on several play houses. Many of our struggling local builders also generously volunteered and played the critical role of organizing and performing some of the more difficult jobs. Continue reading
Spring is here! Just in the last two weeks our entire Lake Norman area has sprung to life. Blossoming trees line the streets and adorn gardens. Bright yellow forsythia and daffodils are in full bloom and all of our plants and trees are budding. It is supposed to be 80 degrees this afternoon!
Here is a photo I took yesterday in Huntersville: Continue reading
Mark your calendars! Mooresville’s annual Christmas parade, as always, is held the Tuesday BEFORE Thanksgiving so mark your calendars for November 24th at 3:30pm.
This truly is a small-town parade where the floats are homemade and the crowds along the route are friends and family. While riding on a float several years ago I waved at friends, neighbors, folks gathered on their front porches or small businesses and lots of small children! It was such fun to see so many of our local Mooresville and Lake Norman residents.
The route of the parade starts on North Main Street in Historic Downtown Mooresville and makes it’s way through downtown ending just beyond. Bring lawn chairs, blankets, family and friends to this downtown happening!
If you are interested in entering the parade (it may be too late but try) or have questions, call 704.662.8210.
To find out about all of the upcoming North Carolina Festivals and Fairs check out: Charlotte’s Got a Lot!
How would you like to save money AND support our local Lake Norman businesses? Well, thanks to Tim Ready, a local Lake Norman resident, it has never been so easy!
It all started when the Mooresville South Iredell Chamber of Commerce announced their “Buy Local” campaign in an effort to gain support for all of our locally owned and operated businesses during these challenging financial times. When Tim learned about this campaign he told me “a light bulb went off”. He did some research and launched BlipLakeNorman.com.
The premise of BlipLakeNorman is simple: Local businesses sign on to be a member, consumers like ourselves get a BLIP keytag (Like a grocery store tag) which are available at any of the businesses that are members. Every time you go into a business that is a member of BlipLakeNorman you get a specific discount. For Example (This is from their website as of today, November 2, 2009 and will most likely change so please go to BlipLakeNorman.com for the latest discounts!):
- Custom Creations By Tina
- 30% OFF Arrangements
- Primal Force
Get the Gear You Need At A Great Price!
- The Wine Loft
$1 off any vodka drink , $5 House Wine – Menage a Trois, red & white, Wine Tastings, 1/2 Price Bottles of Wine, $5 Special Martinis
- Barista Bob’s
FREE Small Latte, 20% OFF Custom Gift Baskets, 10% OFF Coffee, Save on Party Packs, 15% OFF Fall and Signature Drinks
- Clipper’s Flowers
- R. J. Gator’s
2 For $20 Dinner Entrees, $8.99 All You Can Eat Wings, $19.99 All You Can Eat Crablegs
- Pomodoro’s Italian American Cafe
FREE Small Cheese Pizza
Why buy Local? Here is a great list of reasons provided by BlipLakeNorman:
- Keep money in our community
- Support community groups
- Keep our community unique
- Reduce environmental impact
- Create more good jobs
- Get better service
- Invest in our community
- Put your taxes to good use
- Buy what you want, not what someone wants you to buy
- Encourage local prosperity
A list of participating businesses is also available on their website. So, go out and get that free dinner at R. J. Gators, that small latte at Barista Bobs or find out what Fishing with Gus has to offer!
Anyone who has lived in Mooresville (Race City USA) knows that cars are a big part of life for many folks here. From NASCAR to the local drag strip to our monthly Cruise-ins and weekly gatherings of car collectors of all kinds, if you are a car fan, this is THE place to be…well with the exception of Monterey California during “Car Week”!
One of my client’s, Brett Hemphill, thought it might be fun to share a bit about this incredible week for those that may not have been lucky enough to attend it. All I can say is WOW and I hope you enjoy it:
Car Week 2009
One of the best ways to wind down summer is to spend five days in Monterey and Carmel for the various car events collectively known as “Car Week”. This was my second time experiencing the “car overload” and can’t wait to do it again.
This year’s event was a little different in that we were selling our Touchless Car Cover and trying to fit all of the great events in. We figured a way to do it.
The week started with the McCall’s Revival Party at the Monterey Jet Center on Wednesday evening. The grounds are filled with aircraft, rare cars and plenty of car talk. Porsche used this event to introduce the new Panamera sedan. The attendees are well heeled, I am told. Rumor has it that there were 15 jets sold at the event in 2008.
Thursday morning is an early wake up call. We head over to the start of the Pebble Beach Concours tour. This event features cars that will be shown on Sunday on the 18th green of Pebble Beach. It is great to see these cars lining up near the equestrian center at Pebble Beach in the early morning. If there happens to be a tie on Sunday at the Pebble Beach Concours, the car that participated in the Tour gets a bonus point and wins.
We spent Thursday afternoon prepping two cars that my business partner is auctioning the following day at the Russo & Steele Auction at the Marriott in downtown Monterey. At this point, a brush fire has started nearby and there is ash in the air.
Later, we had to drop off three car covers at Concorso Italiano. The Blackhawk Museum contacted us and wanted the Touchless Car Cover to protect and hide their three Alfa Romeo BAT cars from the evening foggy mist and prying eyes. Then it was off to La Dolce Vita to set up our Touchless Car Cover booth in preparation for sales at that event on Friday.
That evening is the Russo & Steele VIP party in the parking structure with all of the cars that will be sold during the next two days.
Friday morning we were off to Concorso Italiano to retrieve our covers. The venue was quickly filling up with Ferrari’s, Lamborgini’s and all things Italian. Then it was off to La Dolce Vita. We unveiled a 1931 Alfa Romeo 6C Grand Sport. Organizers of the event asked us to cover it with a Touchless Car Cover to protect it from the aforementioned ash shower that seemed to be getting worse. We spent the day meeting people from around the world and talked about cars.
Friday night found us at the Russo & Steele Auction. We did some viral marketing by offering a Touchless Car Cover with the first car on the block. This was followed by going to the invite only party at Mercedes Benz on the 4th fairway of Pebble Beach. An interesting crowd varied between under dressed and over dressed. Cocktails and chocolate were being served. The Mercedes evening was capped off with the Pointer Sisters singing a mini concert. Since we did not expect the lack of food, we ended up at McDonalds. How is that for a contrast?
Saturday was spent at the Mecum auction. I was standing 50 feet away from a Daytona Cobra race car signed by Carol Shelby as it went through the block at $ 7.25 million (plus the buyer’s premium). The auctioneer asked the excited audience: “Do you know the difference between a car and a house? You can sleep in your car, but you cannot drive your house”.
Our celebrity status (read: they want to sell us advertising) got us invited to the $100 per head Sports Car Market seminar at Gooding & Company. Gooding definitely had the premium cars to auction including one of Mario Andretti’s Dean Van Lines Indy car.
Saturday night we were back at Russo & Steele doing viral marketing with the first car on the block. Then it was off to dinner with friends – at the table we discussed cars. Imagine the conversation of five Porsche owners in discussion with one Corvette owner. The guy didn’t have a chance.
The weekend was capped off by attending the Pebble Beach Concours. It is just as much fun to see where the cars came from as it is looking at the cars. We saw cars from Hong Kong, Germany, Switzerland, Australia, and more. Forget the cost of the cars, how about the cost of transporting them back and forth? The biggest chuckle I got was watching one of the owners trying to start up a million dollar car. He had no idea how to operate it and had the assistance of an unsolicited mechanic. I am fairly convinced that he had never driven the car.
We took highway 101 South toward Newport Beach and made a detour to the Peachy Canyon Winery for a tasting. The girl serving admired my car. We knew we had picked the right spot as we sipped wine and discussed cars with our wine expert who currently drives a Mini Cooper (S – of course).
Mark you calendars for this Friday, August 14th, 2009 from 6-9 pm for the popular and growing “On the Corner of Art and Main” monthly gallery crawl in Historic Downtown Mooresville!
“The Corner of Art and Main” is an artwalk featuring live music, art and festivities. Enjoy wine and cheese as you browse the many shops on Main and Broad Streets that will be featuring the works of local artists.
This Friday’s artwalk coincides with the Depot Fine Gallery’s August Exhibit free opening reception from 6-8 pm. (105 West Center Avenue in the historic train depot). This month’s exhibit features three artists: Leo Gordon, Sandie Bell and John Weidman.
I would like to particularly highlight a friend and very talented artist, Sandie Bell whose art I have admired ever since I met her when I first arrived in Mooresville in 2005. A local resident of the Mooresville Lake Norman community, Sandie’s work has won numerous awards and is included in private collections throughout the country. Sandie is also an active member of the Mooresville Artist Guild, Lake Norman Art League, Charlotte Artists Society and Associated Artists of Winston Salem.
This is one of my favorite works of Sandie’s which she has replicated on note cards that I love sending to family and friends: “Things are looking up” reflects her spirit as well as life in our great Lake Norman area where hot-air balloons are quite popular.
One of the qualities I appreciate the most about Sandie as an artist is her versatility. She is currently working in acrylics, pastels, collage, watercolor, and mixed media. From traditional still life to abstracts, she enjoys “creating new visual statements by using shapes, patterns, colors and values.”
I am particularly fond of abstract art like this piece of hers entitled “Asian Influence”
To see more of Sandie’s work, visit her gallery on her website in which is included these categories of subjects: Landscapes and Flora, Fauna, Still Life, Abstract, Figures and Others. And, definitely go to the Depot Fine Art Gallery to meet her on the 14th!
If you have time after the Opening Reception at the Depot Fine Art Gallery on the 14th, I highly recommend that you stroll along Main Steet where you will find more wonderful artists such at “Cotton Ketchie” at his popular Landmark Galleries. This month he will not only have his wonderful water colors, photographs, local pottery and gifts, but the gallery will be showcasing the works of NC artist Tony Craig who also enjoys “incorporating the nostalgic old country stores and grist mills” in his artwork just as does “Cotton”.
Finally, stop by for a great glass of wine at our Historic Downtown Mooresville’s gourmet wine shop at the corner of Main and Moore Street.
If you can’t make it this month, On the Corner of Art and Main is held the second Friday of every month. Enjoy!
If you want to experience small-town life in North Carolina, attending one of the many spring and summer festivals is not only fun but a great way to learn more about our wonderful communities.
This Saturday, May 16th, is the annual Race City Festival (Formerly the Lake Norman Festival) in Historic Downtown Mooresville from 9am – 3pm.
Thanks to its growing popularity, the festival has expanded to include both Main Street and Broad Street where you will find over 200 vendors of all kinds, homemade cakes, pies and other goodies, live entertainment, merchant sidewalk sales, a great children’s area and booths hosted by various charity and civic organizations in and around Mooresville and Lake Norman.
Civic organizations like my Mooresville Lake Norman Exchange Club have booths handing out information as we did about non-profits like our child abuse prevention SCAN Center of Iredell County. Of course, there are plenty of distractions that come along unexpectedly!
Many of the booths are Main Street are local and regional artists selling arts and crafts of all kinds.
If you really want a glimpse of the past, don’t miss visiting D.E. Turner’s Hardware store which was opened in 1898! Last year they not only had a great variety of the classic red wagons but they were selling bottles of locally made root beer and various homemade canned goods.
Speaking of food, besides some wonderful homemade goodies, you will find food vendors selling such things as the ever so decadent funnel cakes, kettle corn, turkey legs, hot dogs and fresh lemonade. This is not the day to be counting calories!
Businesses offer all sorts of free goodies for children and adults; from face painting to drink caddies. There is always a children’s Fun Zone where there are plenty of activities to keep kids busy and happy!
I love working at the booths because I can sit back and watch friends, families and visitors go by. One year I sat in the Mooresville Museum’s booth and had a great time meeting many of the descendants of the original families of Mooresville and hearing stories about times long ago.
There are always several stages scattered around where you can listen to a variety of live music, watch performances of all kinds, especially of local school children. New last year there was an area behind Soiree’s Restaurant that was set up with a stage for more contemporary bands of all kinds.
Parking is available in various spots around the downtown as well as side streets. Come early and spend the day!
If you are active, health conscious, care about nutrition, an avid cyclist or runner, love to work out at the Lowe’s YMCA or just someone who loves fruit smoothies, there is a new shop in the new Mooresville Crossing (on NC 150 with the Bed Bath and Beyond, Best Buy etc.) that is a must a visit: Continue reading
Here is a preview of Lake Norman Real Estate’s free calendar for February which you can download to your computer monitor by clicking on the calendar in the right column of the home page.
I took this picture of Lake Norman at early sunset after a very windy day just a few weeks ago. The skies were crystal clear and the lake was like glass.
As I wrote in my January launch of this free calendar series, I am hoping to encourage you and your family and friends to submit your own favorite Lake Norman photo(s) for my upcoming monthly calendars.
Almost anything and everything is welcome including cute pet pics, photos of the Lake Norman area, action shots from sporting events, your artwork or pretty much anything you think would make a beautiful calendar that you’d like to share with our community.
If you’d like to submit a photo, please send it to…
Daily Grind Grill & Cafe
If you haven’t discovered the Daily Grind then you are in for a REAL treat! Originally located on Brawley School and now in Historic Downtown Mooresville, Daily Grind is all about fresh, homemade and delicious, with an eclectic menu that is perfect for our diverse Lake Norman community.
I chose it as my first Business of the Week because not only is it relatively new and family owned and operated, but because it is one of my personal hangouts and I really want them to succeed! Over the past year they has earned quite a good reputation with the locals including several NASCAR cup drivers and for good reason: Great, fresh, homemade food and friendly service!
Daily Grind Grill & Cafe is a family affair. Originally from New Jersey, the Ryan’s move to Lake Norman about 3 years ago and opened Daily Grind in August of 2007. Son Chris Ryan is the Executive Chef and Mom and Dad help everything run smoothly.
From my favorite sandwich, the veggie panini with grilled eggplant, Portabella mushroom, asparagus, tomatoes, roasted peppers and fresh Mozzarella, to an incredible selection of burgers, sandwiches, homemade soups and salads, I challenge anyone to not find something they like on their extensive menu. While many of their items may be offered with us “transplants” in mind, they also offer the down-home southern foods like crab cakes, meat loaf with mashed potatoes, Grouper and grits.
Pub chips are a must have…their own homemade potato chips are thick and crispy.
Did I mention that they serve breakfast all day? Fresh omelettes, Frittatas, or decadent blueberry pancakes, Belgian waffles, French toast stuffed with blueberries, raspberries or peanut butter and banana with their special butter I have yet to try anything that wasn’t perfectly delicious!
And, when I am trying to be health-conscious they offer fresh fruit, oatmeal and yogurt with granola.
“Whether you’re in the mood for just a cup of coffee or a hearty meal…Whether you’re working up a big appetite, or just in the mood for a sandwich, The Daily Grind & Cafe has what you are looking for”!
Daily Grind Grill & Cafe, 170 North Main Street, Mooresville NC. 704.230.1405
More Local Businesses
One of the first things you will discover as you begin your search for a home on or near Lake Norman is that there are myriad variations of “waterfront” and “waterview” homes.
Our Charlotte Regional Multiple Listing Service provides Lake Norman real estate professionals and home buyers and sellers with specific search catagories entitled “waterfront” and “waterview” but it is truly up to the listing agents to properly describe the type of waterfront (wide, main channel or cove) and the type of waterviews the property actually has.
The most common term you will find when looking for Lake Norman waterveiw homes is “seasonal”. So, what are seasonal waterviews?
Here are pictures of the view from my own waterview home taken in Spring, Summer, Fall and Winter: Continue reading
Over a month ago, on a Monday afternoon, I went to log in to my blog to finish my post on Lake Norman’s October real estate sales when I discovered to my horror that my entire blog was gone. After checking other real estate blogs throughout the country that I knew used the same host/server/designer as I, we all realized the server had crashed and the company was gone! For all intents and purposes almost two years worth of my Lake Norman related real estate and community articles were gone.
That launched a saga filled with more drama than you need to know or I’m sure care about. But, today I am thrilled to be back writing on my blog…with all 243 articles saved and the entire site re-designed and ready for an exciting future. You will notice some missing pictures and a few links that may not function but all of those will be completely fixed in the next several weeks. Continue reading
One of the disclosures our folksy Lake Norman real estate agent neglected to mention to my husband and I when we moved here in 2005 was that Duke Energy’s McGuire Nuclear Station (yes, a full-blown nuclear power plant) was just 9 miles away from our home…opps!
While the presence of a nuclear power plant on Lake Norman doesn’t seem to bother most home buyers, I do think it is important for them to know that it exists and be able to appease any concerns they may have. Every year Duke Energy sends out calendars to Lake Norman home owners with basic information about the plant and emergency exit plans. Continue reading
I just got word from Joel, owner of the happening Joel’s Grill in the Harris Teeter Shopping Center on the Lake Norman side of Mooresville that he will be opening a new restaurant: J.J. Wasabi’s at “DoMo” in Historic Downtown Mooresville!
If you know Joel and/or have been to his popular restaurant Joel’s Grill you know that he doesn’t do anything that doesn’t include great food, high energy and fun that becomes a magnet for the who’s who of Lake Norman. I expect J.J. Wasabi’s, in addition to Soiree’’s new restaurant SPEED, to bring a fun, night life and sense of destination to our great Downtown Mooresville’s Main Street….now simply “DoMo”!
J.J. Wasabi’s at DoMo will be located at the wonderfully restored, yellowfront building on the corner of Main and Moore St.: 183 N. Main St. For more information: 704: 402-3548. email@example.com.
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.
Perhaps it is because we are all trying to take our minds off of the Lake Norman real estate market and our national economic worries but it seems like this year the color orange is everywhere! Are you in searcch for a pumpkin patch? How about:
- Carrigan Farms: Open 9-5 weekdays, 9-4 Saturday and 12-4 Sundays through Halloween. Pick a pumpkin, visit the animals and have some fresh apple cider. There are even hayrides every 20 minutes! 1261 Oak Ridge Farm Highway/N.C.150, Mooresville.
- Fifth Annual Boy Scout Pumpkin Patch: Pumpkins and gourds of all shapes and sizes. 17115 Kenton Drive, Cornelius
- The Great Pumpkin Patch for Missions: Pumpkins, decorative corn, gourds and more! Davidson United Methodist Church: 233 S. Main Street. Davidson.
Or, just look to any of our many local produce stands who are brimming over with pumpkins and decorations for your Lake Norman home! Continue reading
For those of you interested in seeing some of Lake Norman’s historic homes, mark your calendars for October 17-19! Thanks to such great success last year, once again Mooresville is holding The Second Annual Historic Mooresville Tour of Homes. Sponsored by the Mooresville Historic Preservation Commission and DEJ Realty, this event was created last year as a way to promote Historic Downtown Mooresville. Proceeds of the event benefit the Mooresville Historic Preservation and The Mooresville Museum.
This year the VIP Reception is being held in the spectacular J.A. Stewart house located on 832 North Main Street on Friday evening, October 17th from 6-9pm. Soiree Restaurant (located in Historic Downtown Mooresville) and Say Cheese at the Grapevine will be catering the evening reception. Tickets are limited and may be purchased for $40 at the locations on their website: Historic Mooresville Tour of Homes.
All of the homes on the tour are located in downtown Mooresville. The tour hours are:
- Saturday, October 18th: 10am – 6pm
- Sunday, October 19th: 1pm – 5pm
Tickets are $12 in advance or $15 on the day of the event. Parking and ticket information is also on their website: Historic Mooresville Tour of Homes.
The Homes on Tour:
- 334 West Center Avenue: The Ernest Henry Miller House (1898)
- 318 West Center Avenue: The W.M. Lentz House (1884)
- 351 West Center Avenue: The Zebulon Turlington House (1906)
- 832 North Main Street: The J.A. Stewart House (1896)
- 329 South Academy Street: The Annie Rankin Carr House (1902)
- 335 South Academy Street: The Mary Howard Rankin Turlington House (1902)
- 354 South Academy Street: The C.L. Emiston House (1920’s)
- 318 West Wilson Avenue: The Davidson House (Turn-of-the-Century)
- 419 Harris Street: Mooreville Mill Village (1917)
- 328 Messick Street: Mooresville Mill Village (Early 1920’s)
This group of homes will provide an opportunity for historic home enthusiasts to see everything from small Mill homes to the grand estate on Main Street. Visitors can start and stop at any home on the tour. The tours are given in groups led by an experienced docent (I will be a docent at 329 South Academy on Saturday so be sure and say hi!) so that you learn about the special characteristics of each home as well as some fun history.
If you have been visiting this Lake Norman Real Estate Blogsite for very long you know I love our Historic Downtown Mooresville and I truly hope this opportunity to see so many wonderful historic homes will encourage more of our Lake Norman home owners to venture east a bit and learn more about our historic part of town!
Several weeks ago I wrote an article “Finding the Truth About Lake Norman’s Housing Market: A Case Study“ It got such a great response and I learned so much preparing it that I decided to do another one, this time on our beautiful, upscale Crescent Homes Community: The Point.
In these real estate “case studies” I use our Multiple Listing Services Archives to research the actual original listing price and listing date to determine exactly how long a home was on the market before it sold and the actual listing to sales price percentage. The need for this effort stems from the common practice of agents taking a listing off of the market and then listing it as NEW when doing a price reduction. While this is helpful to the home seller because it allows their listing agent to market it as new, it makes it nearly impossible for someone to quickly do an accurate comparative market analysis because our MLS system only gives us the most recent listing prices and listing dates. Hence, the need for the archive search below.
Case Study #2: The Point in Lake Norman
Do a quick search on the MLS for the past three months including the number of active listings, pendings and solds. The Point currently has 123 active listings, 5 pending sales and 9 homes sold since June 15, 2008. This means that at the current rate of sales The Point has about a 41-month supply of inventory. The overall Lake Norman real estate market has about a 28-month supply of inventory so right now The Point has a seriously high number of listings compared to their rate of sales. You will note in the report below that the average days on the market are VERY high.
This is probably THE MOST IMPORTANT step in this process. As a Realtor, I can do an “Archive” search on each for the properties sold in the past 3 months AND the home you are thinking about purchasing. An archive search in our MLS database tells us the entire history of the property including previous sales, the actual initial listing date, the actual initial listing price, the number of price reductions and the final sales price. This is the only way to find out the real MLS listing data for a given property. (Even this is only as accurate as our MLS so there will be errors.)
Using this archive information, calculate the actual days on the market and the actual % of the sales price versus the first listing price for each comparable property. This is what I found about the 9 sales at The Point:
|Listing Price||Sales Price||% Change||Days on Market|
|2||$995,820||$812,000||-18.5%||12/5/06 – 9/12/08|
|3||$815,900||$831,715*||+2%||10/3/07 – 6/24/08|
|4||$895,000||$852,500||-4.7%||6/26/07 – 7/17/08|
|5||$948,500||$865,000||-8.8%||1/26/07 – 8/7/08|
|6||$965,000||$925,000||-4.1%||3/28/06 – 7/3/08|
|7||$1,749,000||$1,625,000||-7.1%||9/9/07 – 7/21/08|
|9||$3,250,000||$2,900,000||-10.8%||10/5/07 – 8/25/08|
*Note: This property included the purchase of a boatslip not included in the original price
** Note: Sales #2,3,4,6, were new construction so the days on market include construction time
Before making on offer there is one more thing to do if your are considering a re-sale home: research the tax records to find out as much as possible about the current owners: When did they buy, what was the purchase price, and, if possible, what is the loan amount.
I was actually quite surprised by these findings. Despite the extremely high number of active listings and average days these 9 properties took to sell, the average list to sales price of a home in The Point was only -8.9% with a high of -18.5% and one sale that actually went over asking due to an added boatslip.
One additional observation: Several of these homes sat at their highest listing price for the bulk of their days on the market. Once reduced, they did sell within a couple of months.
Of the 5 pending home sales in The Point right now, 3 are in the $700,000’s and 2 are above $1 million.
It does appear that sellers at The Point, whether builders or individual homeowners, seem to be willing to have their homes or estates on the market for over a year without making significant price reductions. Whether this trend will continue remains to be seen. With over 3 years of supply of active listings based upon the current rate of sales I would predict that prices will come down further until the number of homes for sale drops to about a 1 year supply on hand.
This morning I got a glowing email from a real estate agent referring to the article today in the Charlotte Observer. Yippee! “Area home prices are showing signs of improvement. Overall, the Charlotte market is holding up better than many others around the U.S.”
Darn that S&P/Case Shiller Home Price Index. And you, Office of Federal Housing Enterprise Oversight, with your numbers showing that Charlotte area home prices rose 5.2%. Can we talk? First of all, both of you are talking about a 12-month period ending June 30th. A lot has changed in our housing market in the past two months, so exactly how valuable is a 12-month report dated June 30th? Second of all, one of you doesn’t include “subprime lending, many government-backed loans and the largest mortgages.” Aren’t these kind of important in this current real estate market?
So, our area housing marekt is “showing signs of life”? In Lake Norman we currently have 1763 active listings and a total of 82 homes sold in the past 30 days. This means we have a 21.5 month supply of active listings. A balanced market has 6-8 months of inventory. In the same period last year we had 143 home sales. Is 3-times the number of listings and a 42.6% decrease in the number of home sales your idea of showing signs of life?
If you go on to read the Charlotte Observer article you will find that they do note a 37% regional sales drop in home sales, a decline of 52% in Mecklenburg County building permits…the lowest since “at least 1998? and a few other insights that might challenge their optimistic headline.
All of you that read my blog regularly know the statistics about the Lake Norman real estate market. Frankly, they are not showing signs of improvement but there is some indication that we are leveling off. The reality is that until our inventory of homes is back down to a 6-8 month of supply on hand we are going to see downward pressure on prices.
I have been through the recession in the early 1990’s. I know our Lake Norman market will come back to life. We will again be THE destination for so many looking for the perfect place to live and when it does I will be the first to let you know! Until then, please read the small print!
When I first met Bob Mangan, he was a guest speaker at my Mooresville Lake Norman Exchange Club. Knowing that our club’s main focus is on the prevention of child abuse, he came to speak to us about a self-defense program called Kids Safe. When I met with him recently to learn more about his Mangan Martial Arts Academy I discovered that his passion for teaching children self-defense has grown out of a life-time involvement in the Martial Arts including competition in numerous forms from Karate to Kick-boxing to TaeKwon-Do since 1974!
Sensei Bob Mangan has been teaching Martial Arts in the Mooresville Lake Norman area since 1997 but he opened the Mangan Martial Arts Academy on Main Street in Historic Downtown Mooresville just this past April. What a great addition to our growing downtown!
The Mangan Martial Arts Academy offers classes in four age groups:
Little Ninjas: Ages 4-5
Karate Kids: Ages 6-10
Warriors: Ages 11-15
Adults: Ages 16 & Up
I observed the Karate Kids in action! The tall girl with the black belt is Sensei Bob’s daughter who helps with the classes when available.
The adult classes are particularly popular with women of all ages who have a desire to learn basic self-defense.
It was clear from the moment Bob and I started talking that his desire to teach is as much about improving a child’s self esteem, self confidence, self discipline and a positive mental attitude as it is about learning the physical aspects of the martial arts.
Bob shared that he tells his students, before they step on the mat and enter the class, to imagine that they are holding a very heavy tea cup. This tea cup is full of whatever problems, worries or other things that may be weighing on their minds. Then he tells them to imagine throwing all of the contents of the tea cup out so that when they step on to the mat their minds are clear and calm. They have entered a space where they leave the world behind and concentrate only on the class.
What a great teacher for children and adults! For more information you can go to his website: Mangan Martial Arts Academy or drop by the Academy located at 158 North Main Street in Downtown Mooresville. 704.799.3645.
Mark your calendars for the 2008 Cotton Ketchie Arts Festival being held in Historic Downtown Mooresville on August 22nd and 23rd!
Held at the Charles Mack Citizen Center, this is a juried Art Show featuring about 35 top artisans’ work in a variety of media including sculptures, oil and watercolor paintings, photography, wood turning, jewelry and even weaving.
This annual event is put on by The Mooresville Lake Norman Exchange Club in order to raise funds to support our local SCAN Child and Parenting Centers to help fight Child Abuse.
Friday, August 22nd @ 6:00pm
Live and Silent Auction
Meet the Artists Reception
Buffet hors d’oeuvres and live music by Night Shift
Tickets are $50 per/person
Saturday, August 23, 10 a.m. – 5 p.m.
Open to the public with FREE entry!
Artists Demonstrations and beautiful art for sale (Think Early Holiday Presents!)
Food and Children’s Activities
Two incredible raffles!
The Ulimate Play House; a Custom Designed 8? x 10? Outdoor Play House including dormer, shingled roof and front porch
Generously built and donated by The Lake Norman Home Builders Assoication. ($10 each ticket)
Cotton Ketchie’s newest giclee “Vintage Mooresville”
One of Cotton Ketchie’s wonderful works depicting Historic Mooresville’s Depot and Downtown
Tickets for this raffle are $5
As this year’s President of the Mooresville Lake Norman Exchange Club, I can personally tell you that not only is this a top quality juried art show featuring some of the best in North Carolina, but that all of the proceeds from this event will go to help fight child abuse in Mooresville and Iredell County. Last year 32 children in North Carolina died at the hands of a parent or caregiver. The dedicated team of counselors at our SCAN (Stop Child Abuse Now)Child and Parenting Centers in Stateville and now Mooresville teach parenting classes, provide counseling and have a number of programs working in conjunction with the Department of Social Services to protect our children. The Cotton Ketchie Arts Festival is our major annual fundraiser for the SCAN organization. As the Treasurer of the Board of SCAN I can tell you that we need every penny to help us provide the much needed services we do.
Tickets for both raffles are available at the Landmark Gallery on Main Street in Downtown Mooresville and at several other locations around town.
The Play House is currently on display in front of WalMart in Mooresville but will be moved to other locations.
Feel free to email me for more information, tickets or the most recent location of the Play House!
I remember when Mooresville’s Legacy Villagewas just some large renderings under a tent on Williamson Road for Realtors to preview. Today I took the photo above of Phase 1. As you can see, one row of town homes is complete and construction is well underway on the next block.
One of four mixed-use developments planned or underway in Mooresville, Legacy Village is a 28-acre Urban Village style community that includes 118 Townhomes (89 of which are already sold), 200 condo “flats”, a 10,470 square-foot child care facility The Learning Experience which is nearly complete, 324,999 square feet of office space, 91,703 square feet of shops, restaurants, and a hotel.
This true “urban density” live/work project couldn’t be better timed for Lake Norman considering the current gas prices. It is also strategically located just off of Exit 33 between the 157-acre Lowe’s Headquarters and the Lake Norman Regional Hospital and Medical Center in Mooresville.
In hopes of the yet finalized North Corridor Commuter Rail Line from Charlotte to at least Exit 33 in Mooresville, Legacy Village has also dedicated 1.5 acres for a rail station. Their vision is that Legacy Village will become almost a “self contained” small town” according to Doug Hollidge of Pinnacle Properties.
The entire housing and commercial development is currently on schedule with the town homes nearly complete, The Learning Center is due to open in about three weeks and the entire Village is expected to be competed in 4 years.
While it’s sometimes hard to let go of the past and our quiet Lake Norman communities, this massive housing and commerical project, along with Langtree at the Lake at Exit 32, Morrison Plantation’s The Meeting Street town homes at the Harris Teeter close to Exit 36 and the Mooresville Mills in Historic Downtown Mooresville are 4 urban village housing projects that will offer what many people are already seeking; a home where they can walk to work, shops and dining right here in Lake Norman!
In Part 3 of this series I will feature Morrison Plantation’s The Meeting Street town homes.
Please Note: There are been many more changes and revisions since I wrote this in 2008 so please check with your Realtor to learn about the latest forms and purchase process!
Effective July 1, 2008, there have been numerous small and more significant changes/additions/deletions to the standard North Carolina real estate forms jointly approved by the North Carolina Association of Realtors AND the North Carolina Bar Association.
As a home buyer or seller in the Lake Norman area, there are several things you should do or know if you are currently thinking about or in the process of buying or listing a home:
- Always make sure that the forms you are provided by your Realtor are the most current form available. Our four most commonly used forms, the Offer to Purchase and Contract (Form 2-T), The Additional Provisions Addendum (Form 2A11-T), The Exclusive Right to Sell Listing Agreement (form 101), The Exclusive Right to Represent Buyer Agreement (Form 201) as well as many others were revised on July 1, 2008. At the very bottom of each form you will find the Standard Form number and the date adopted. Check to make sure it says: Adopted 7/2008. (Or later depending on when you read this!)
- Have your REALTOR explain the changes in the forms, especially if you have used the old forms recently.
- There is a 60-day grace period to transition to new forms.
Here is a very brief summary of the most notable changes to these 4 forms. *This is general information only. Please note, I am NOT an attorney. If you have any questions regarding these changes please consult a real estate attorney. I would be happy to provide you with names and phone numbers for several in the Mooresville Lake Norman area!
Offer to Purchase and Contract (Form 2-T)
- Important clarification of the loan condition (paragraph 5) including when the buyer can terminate the contract with return of their earnest money and when the earnest money will be forfeited due to a breach in the purchase contract.
- Clarifications and changes related to Paragraph 16, 1, 17, 27.
Additional Provisions Addendum (Form 2A11-T)
- New “Agreed-Upon Repairs and/or Improvement” provision has been added
- “Closing of Existing Contract” provision has been eliminated as it is now addressed in the new Contingent Sale Addendum
Exclusive Right to Sell Listing Agreement (Form 101)
- New wording has been incorporated into the Dual Agency paragraph 20 and they have eliminated the separate Dual Agency Addendum we have been using.
- Additions include a paragraph encouraging Sellers and agents to discuss advantages of having a home inspection done before listing
- Clarification/new wording added to address ethical duties of Realtors regarding disclosure of multiple offers and a new Real Estate Commission rule prohibiting “shopping of offers” by real estate agents. Briefly, if the seller authorizes disclosure, a firm shall disclose the existence of other offers, who obtained the other offer(s) but”disclosing the price or other material terms contained in a party’s offer to purchase, sell, lease,rent or option real property to a competing party” may not be done without the “express authority of the party making the offer”. In other words, without the buyers permission, price or terms must not be disclosed to other buyers or their agents.
Exclusive Right to Represent Buyer Agreement (Form 201)
- The same changes have been made to this form as were made to the listing agreement regarding incorporating the content from our previous Dual Agency Addendum
- This form also has been modified to address the new North Carolina Real Estate Commission rule prohibiting the shopping of offers by real estate agents.
There is also a great, new Form 780 which is a form created to help real estate agents keep track of the increasing number of contractual deadlines and whether they are “time is of the essence” or not.
Again, this is meant to be a brief overview for Lake Norman buyers and sellers of just some of the many changes/additions and deletions to North Carolina real estate contracts that went into affect as of July 1, 2008. For more information, please contact your Realtor or real estate attorney.
There are some indications of major changes to our Offer to Purchase and Contract in the near future. I will devote an entire article to our currently rarely used “Option 2? and why there may be a move to make this the sole option for home buyers and sellers.
The Lake Norman Home Builders Association launched a new quarterly magazine ”The Lake” this spring which, according to Larry Airey, Executive Officer of the Lake Norman Builders Association, “flew off the shelves”!
To substantiate that Lake Norman home builders are not just interested but taking action about “Green” building, their second issue of The Lake, Summer 2008, features the “Green Building Guide“. On February 14th of this year the National Association of Home Builders (NAHB) released their “Model Green Homebuilding Guidelines” which are discussed in this feature article with great examples and insights from local builders.
As one who is interested in sustainable buiding, it was great to learn that the Lake Norman Home Builders Association has created their own “Green Building Council” which is “dedicated to educating and incorporating environmental considerations into every phase of the Lake Norman home building process.”
This article also outlines the guiding principles of green building:
- Lot design, preparation and development
- Resource efficiency
- Energy efficiency
- Water efficiency
- Indoor environmental quality
- Operation, maintenance and homeowner education
- Global Impact
And, it goes on to interview Lake Norman Builders, some of whom are certified Green professionals, about their projects, their focus and their interpretation about how to implement these principles when building a home here in the Lake Norman area. I often read about green efforts nationally but this article goes into great depth with local builders.
Keeping in the green theme, there are two addtional articles “Green your home with these remodeling tips” and finally “Green Communities“.
I must say I am quite impressed with this new publication. The quality of the design, photography and local information provided to future and current home owners is top notch. Right now “The Lake” is available in magazine rack around Lake Norman but they are planning to have the ability to mail it directly to homes by the fall issue. I highly recommend that you get a copy before they run out!
OTHER ARTICLES of INTEREST
Don’t let the last phase of the Historic Downtown Mooresville street beautification keep you from exploring and enjoying an amazing array of new shops, art galleries and restaurants! If you haven’t been downtown in just 6 months you will be amazed at the changes! Most of the historic buildings have had beautiful face-lifts, the sidewalks and crosswalks have inlaid bricks, the park next to the Mooresville Artist Guild Depot has brand new landscaping and there is new signage and lamp posts.
Behind the temporary cement barriers on the north end of downtown Mooresville, there are some exciting new shops ready to welcome you! There is plenty of parking at the Charles Mack Citizen Center if you can’t find any on street parking.
Right on the corner just down from Cotton Ketchie’s renowned Landmark Galleries you will find the new 202 North Main Fine Wines store which offers a great selection of higher-end wines and wine tastings.
Be sure to check out “The Corner of Art and Main”, Downtown Mooresville’s Artwalk featuring live music, art and festivities. Enjoy wine and cheese as you browse the many shops on Main and Broad Streets that will be featuring the works of local artists on the second Friday evening of every month.
If you haven’t visited Historic Downtown Mooresville lately, now is a great time to go!
UPDATED in August 2014:
|Back- on Market||55||55||46||42||40|
|Conditional + Contingent||18||19||18||17||22|
Announcing a new feature for this Lake Norman Real Estate Blog: The Friday Hot Sheet!
Despite all of our technology, one part of our real estate practice has consistently been an important part of our routine…pulling the daily, or in this case, bi-monthly Hot Sheet which gives us a snapshot update for all residential real estate activity in Lake Norman for the past two weeks.
Above is a chart with today’s numbers and then, for comparison, numbers I pulled throughout the spring. Here are some highlights:
- The past two weeks almost mirror the first two weeks in June.
- New listings are trending down which we would expect at this time of year. Considering our large inventory, this is a good thing!
- There are more listings coming back-on-the-market than earlier this year which usually indicates they have fallen out of contract. This could be due to a number of factors like problems with loans, appraisals, inspections or buyers remorse…this is an indication of the uncertainty of our market!
- The number of price changes has risen substantially since early spring indicating that price-reductions are increasing as sellers realize they are over-priced.
- Pending sales are at their highest which shows a recent upswing in sales about to close.
- Solds (contracts that closed in the past two weeks) were down slightly but have remained about the same since April.
- Contingent and Conditional Sales are almost identical showing no obvious trends or changes.
Next week I will do my second quarter sales analysis by price-range which will go in to a lot more detail about our sales trends.
Have a great weekend!
Living in Mooresville NC during NASCAR’s “Speed Week”, which starts with the All-Star Race on one weekend and ends with the Coca-Cola 600 on the Sunday of the second weekend, is a bit like living in Pasadena during New Years.
Race fans from all over the world converge on Mooresville and Charlottefor the myriad festivities both before, during and after the actual races at Lowe’s Motor Speedway.
Why Mooresville? We are home to many of the largest race teams including: DEI, Penske, Petty Enterprises, JR Motorsports, Rusty Wallace Racing, Red Bull, and so many others. Race Shop Tours offers a 7-hour tour during which you visit 23 Teams! Mooresville is also home to the NC Auto Racing Hall of Fame.
This article in the Mooresville Tribune: Mooresville’s Race Week 2008 lists quite a few of the highlights including Penske Racing Fan Day and the JR Motorsports fan event which I worked at on Friday.
Dale Jr. and his sister Kelly created a “Brick Paver” fundraiser program which enables fans to buy a brick and have it inscribed and placed in cement around the flagpole at his new race shop in Mooresville.
All of the proceeds go to SCAN our local Child Abuse Prevention organization of which I am on the Board of Directors. So, all Friday afternoon, a group of us volunteered to help sell them to fans. What an experience!
Fans we talked to came from as far away as Australia and just about every state in the US. Let me tell you, there were some die-hard Dale Jr. fans! This little boy and his brother both sported Mohawks with a bright red 88 painted on the sides of their heads.
The National Guard was there along with Dale Jr’s sponsors like Amp Energy Drink. (I don’t think ANYONE needed that much energy but they were giving them out to everyone for free!)There were bands playing, tours of his race shop, contests and raffles of all kinds.
We also brought the Stocks for Tot’s official car to remind fans about this great non-profit effort that has a huge race driver signing event each December in Downtown Mooresville. The funds of this terrific effort also go to prevent child abuse locally and throughout the country.
We sold a ton of bricks (pun intended) for our SCAN Center and had a great time meeting all of the fans.
I haven’t always been a NASCAR fan but how can I not be, living in Mooresville, City USA and experiencing their generosity to our local community as well as worthy causes throughout the country.
It’s not to late. The Coca-Cola 600 starts in just a few hours!
Okay, tomorrow for me it is back to Lake Norman Real Estate. Have a safe Memorial Day and remember all the brave men and women who have sacrificed for our country.
The Race City Festival
˜A Celebration of Mooresville Arts & Culture
If you want to experience the essence of small town life in North Carolina, there is nothing more fun for the whole family than a festival!
Formerly known as The Lake Norman Festival, Mooresville’s The Race City Festival is held in Historic Downtown Mooresville every May during NASCAR’S Race Week when hundreds of thousands of people converge on our racing communities for the two weekends of racing at our Lowe’s Motor Speedway.
Like so many festivals, there will 180 participants including:
- Arts and an art show in the park
- Civic and non-profit organizations,
- International Food Court,
- Downtown merchant sidewalk sales
- A special children’s area with games and rides.
- Church groups
Vendors and activities will be on both Main and Broad Streets. Entertainment, which will occur throughout the day, will be on stage in the Wachovia parking lot and will feature local children and dancers and more!
The first ever Main Street Music Festival will be behind Soiree, where there will be a six-band stage on Saturday from 1-11:00 pm! “Featuring a variety of musical genres – from Motown to honky tonk, blues to rock – the outdoor event will welcome bands such as Swizzlelink, The Michael Hager Group and From a Seed. Advanced tickets are available at Soiree for $10 with proceeds benefiting Mooresville’s HealthReach Community Clinic. Food and drink will be available for purchase” according to the Mooresville Tribune.
“We really started to…emphasize the arts and cultural piece” according to Karen Shore of the Mooresville-South Iredell Chamber of Commerce. “People are looking at the festival in a very different manner.”
It is such a great opportunity to learn more about our Mooresville and Lake Norman community, support local businesses and non-profits, and simply have fun seeing old friends and making new ones. Don’t hesitate to stop at the booths and strike up conversations. We love to share about our causes, the weather, gas prices or anything else that is on our minds. In the past I have worked for the Mooresville Artist Guild and the Mooresville Museum but this year I’ll be spreading my time between my Exchange Club, my RE/MAX at the Lake booth, and wherever else I am needed so please stop me and say hi!
Just the Facts:
Where: Main Street in Downtown Mooresville
When: Saturdayl, May 17th
Time: 9:00am – 3pm
Update: It was a HUGE success and great fun! I hope to see you there next year!
Two things prompted my to write this post about high-end real estate sales in Lake Norman: A series of national articles about ˜affluent or ˜wealthy home buyers and several recent Lake Norman sales of homes over $3 million. Since there have been NO sales in the greater Lake Norman area of homes over $3 million since 5/14/07, the points in the three articles I read made some sense:
˜Wealthy Homeowners Take Advantage of Marketby Blanche Evans of Realty Times (4/17/08) is an analysis of ˜The Annual Survey Of Affluence and Wealth in America from American Express and the Harrison Group. (Participants were divided into three groups: the upper-middle class $100,000 – $149,000; the affluent $150,000 – $249,000; and the supper affluent $250,000 +). The bottom line of this report? 40% of the nations wealthy plan to buy real estate in 2008. ˜The wealthy view real estate as diversification and % believe real estate values will rebound.
˜Wealthy see buying opportunites in sluggish real-estate by Amy Hoak of MarketWatch also uses the American Express/Harrison Group survey as the foundation of her article. Of the highest income earners, she writes that ˜40% said they are in the market to acquire real estate this year. However this figure drops to 17% of their upper-middle class participants.
˜If Trump and Buffett can do it, so can you by Bernice Ross is the second of a two-part series she wrote about ˜reluctant buyers which was published by Inman News. ˜Its no secret that people like Warren Buffett and Donald Trump are actively involved in purchasing as much real estate as possible¦The smartest people in the real estate business are contrarians. They sell when prices increase and buy when prices are going down.
Here in our Lake Norman Area, $2,000,000 is probably where our true luxury home market begins. However, I found it very interesting that there had been no sales over $2,950,000 since May of 2007¦until this month. Showings of the highest priced homes have picked up and two Lake Norman estates recently went ‘under contract’: 20940 Bethelwood Lane (list price is $5,750,000) and 17216 Connor Quay Ct. (Listing price is $3,830,000).
It is hard to know if this is a true sign that luxury home buyers are returning to Lake Norman but it certainly indicates that there are some positive moves in that direction.
*Thank you to Chris Lowery of www.Open2View.com for the photograph!
**Update 9/14/08: The property on Bethalwood Lane closed at $4,900,000.
Picture 1,200 acres of real estate with lush gardens nestled in tall trees along 18 miles of the most beautiful shoreline of Lake Norman and you can begin to imagine arguably Lake Normans preeminent housing community: The Point. Now add an 18-hole golf course designed by Greg Norman, a Nantucket style village and 900 luxury homes built on large home sites by a group of the most respected builders hand-picked by Crescent Communities and the result is an upscale country club lifestyle blended perfectly with the casual Lake Norman lifestyle. Welcome to The Point!
What makes The Point special?
- The Point has been recognized for their environmentally sensitive landscape design capturing the natural beauty as well as their outstanding landscape maintenance
- The Point has received numerous acknowledgements and awards for outstanding building and design achievements in real estate
- The Greg Norman designed Golf Course is known for a course that incorporates the magnificent land with the beautiful lake into a very challenging yet playable course
- Trump National Golf Club Charlotte offers an incredible range of services and activities including their Nantucket Style Village
- Some say they feel like their are on a permanent vacation!
There are 13 phases of housing at The Point most of which have been completed but there are still custom homes available as well as some lots. The Community map provides a good overview of the real estate homesites.
While many homes reflect the feel of New England, because these are custom homes built by at least 15 different builders you will find everything from French Provincial, to Colonial to traditional and contemporary styles of architecture.
There are currently 113 homes for sale and re-sale ranging in price from $569,000 to $4,500,000 and ranging in size from about 3000 square feet to over 9000. The average sale price is just about $1,100,000.
The beauty, friendly neighborhoods, luxury watefront homes are just a part of what makes The Point stand out as Lake Normans most popular housing communities. It is the sense of community and the amenities ˜for every lifestyle that make The Point an almost self-sufficient neighborhood.
The Nantucket-style village with its cobblestone streets is the heart of the community and the center of the myriad amenities offered for residents of all ages including a General Store, a Tavern, Fitness Center, the Village Green and Meeting House, Golf Pro Shop, Children’s activity rooms. Since writing this article, these wonderful amenities are now part of Trump National Golf Club Charlotte!
The Point welcomes children of all ages with open arms!They even have a separate CD available that just focuses on all of the activities offered to children including a full-time activities director, sports including swim teams, golf lessons, water sports from wake boarding to sailing, parties and fun events like movies at the pool, arts and crafts and so much more.
There is a Junior Olympic swimming pool, a slash pool with a towering lighthouse waterslide and play equipment like water jets, toys and games Finally, there is a Tot pool with play fountain and a cabana snack bar.
Imagine a summer camp on steroids¦thats what children are offered!
Another important factor for parents to consider is the popular public schools that service children living at The Point: Woodand Height Elementary, Brawley Middle School and Lake Norman High School
So, if you are looking for Lake Norman waterfront real estate or Golf Club lifestyle but the comforts of an upscale community with myriad sports and amenities for all ages, visit The Point.
*Update 9/14/08 Sales have been very slow at The Point prompting many price reductions so if you haven’t looked for a while, you might be surprised at the prices.
Anyone who lives in Mooresville down Brawley School Road knows that changes seem to be happening literally every day! Not only are the utility poles being installed in their new locations well inside many homes’ and businesses’ front yards requiring myriad trees to be removed, but more businesses have also moved since my last update and quite a few homes are now vacated and have bright red numbers on them.
By far the most dramatic of the changes is the preparation of the land for the new Mayhew Promenade across from Fast Phil’s which has changed the entire landscape around Stutts Road.
Saturday one of two remaining homes on the Mayhew Promenade lot was officially burned by the fire department while quite a crowd of neighbors looked on. When I stopped this morning to take this picture there was still one spot of flames and smoke.
It is hard to believe that just a few weeks ago this huge area was covered with tall trees and homes were nestled away in them.
In the meantime, The Auto Spa and several other businesses along Brawley School Road have also closed to make room for the widening which is now officiallly being given a “let date” (the date the project is awarded to the contractor) of August 19th for the section from Chuckwood to Williamson Road.
As a resident of Brawley School I must admit I have mixed emotions. Yes, I am very excited at the thought of having 4 wide lanes to ease the traffic. But, I am also a bit sad to see us loosing our wonderful wooded, peaceful roadsides and signs of a slower, gentler times gone by.
* Update 9/14/08: The utility poles have been installed, most structures that had to be removed are now gone and the Bloom Market is looking great!
RELATED ARTICLES ABOUT LAKE NORMAN’S GROWTH
A rather significant change to the data provided about Mooresville Lake Norman homes will take place this week. On March 27, 2008, the display of square footage for all active listings will change from an exact number provided by the listing agent to a RANGE.
The quoting of square footage has been controversial and problematic for Realtors as well as home buyers and sellers for years. I remember when got my license in 1991, due to a lawsuit, many of the local real estate firms had stopped providing any square footage numbers at all.
Then we progressed to a database that required us to provide an assessors figure, a seller’s or a figure obtained by an appraiser and we had to state the source of the figure.
When I moved to Mooresville in 2005 I was truly amazed to discover that the North Carolina Real Estate Commission required every listing agent to provide the actual square footage obtained from his/her own measurement. We did sample problems in our broker license classes and not one person came up with the exact same measurement! (I ALWAYS hire a professional to measure my listings).
While this requirement has not changed, starting this Thursday, March 27th, the Charlotte Multiple Listing Service will change from displaying an exact figure to a range. The range will be determined by the following formula:
- 10% down then rounded down to the nearest hundred, and 5% up and rounded up to the nearest hundred
What hasn’t changed: Listing agents will still input an exact square footage into the MLS program and searching by square footage will work just as it has so when searching by square footage, only listings that include the actual square footage input will come up in the search results. Once a sale has been recorded the exact square footage number will replace the range on all reports.
A few interesting facts:
- The Residential Square Footage Guidelines put out by the N.C. Real Estate Commission indicates that “deviations of less than 5% will seldom be cause for concern”.
- A room must have a ceiling height of 7? for it’s square footage to be counted.
It will be interesting to see how this change is received!
Related Articles about Buying an Selling Real Estate in the Lake Norman Area:
The Lake Norman neighborhoods I have featured so far have all been waterfront communities where the focus is on the lake. However, there are other lifestyles offered around Lake Norman that are also very popular particularly wooded retreats with a focus on privacy and an almost rural feel. It is all about nature and a desire for a peaceful and even serene environment.
An example of this is the recent Crescent Community The Farms; another quality housing development on Mooresville’s Brawley School peninsula on Lake Norman.
Instead of the more formal feeling of The Point or The Harbour at The Point just down the road, The Farms has a casual atmosphere. The rolling hills, heavily wooded lots (which range from .7 to 2.5 acres) and the absence of curbs and sidewalks create a private and rural environment. Most homes share a more traditional design style with large front porches and a touch of Craftsman detailing.
Since this is a relatively new development buyers can choose to build their own or buy a completely finished home built by one of Crescent Communities Featured Builders who are hand-picked by Crescent for their quality and stability. They also maintain an architectural control review to maintain the aesthetics of the neighborhoods.
Just the Facts:
- Broke ground in 2003
- 600 acres (6 Phases) with 450 planned homesites
- Minimum square footage requirements are 2200 for a ranch or 2400 for a 2-story
- Mostly 3-car garages and at least 4 bedrooms
- Very few waterfront lots but Hager’s Creek public boat launch is just down the street
- Boat Storage
- Low Iredell Taxes
- Iredell County Schools
- Activity Director at the Homestead Activity Center
- Located in Mooresville between McKendree and Chuckwood Roads on the Brawley School Peninsula
- Pavilion for community events
- Competition-sized Junior Olympic pool
- Six tennis courts for league play
- Activity fields for soccer, baseball and softball
- Fitness trail with exercise stations
- Picnic areas and activity lawn
There are currently 42 active listings in The Farms ranging in price from $529,000 to $1,275,000. Since it’s opening, 190 properties have been sold through our MLS (some new construction homes do not get listed in our Multiple Listing Service) with an average sales price of $622,051 and average size of 3814 square feet.
The Farms is just one of many options in and around Mooresville for those wanting a quiet retreat to come home to after work!
I always love showing buyers waterfront homes because Lake Norman is just so beautiful. But, today was special. Even in the smallest of coves there was plenty of water for the first time since our drought started last summer.
Our beautiful lake is gleaming, the boats are back at their docks and our waterfront homes look better than ever!
My friend, who moved here from Texas a year ago, commented on the fact that when they first moved here they had no idea how large Lake Norman really was and that it is truly more like an inland ocean than a lake. I thought that was great perspective to share with anyone thinking about moving here.
Just to confirm officially, I came home and checked the Lake Norman water levels on Duke-Energy’s website. They are actually 1.5′ ABOVE our target level of 95.9 and are, as of 2:28 today, a very comfortable 97.4′.
Add a profusion of blossoming trees, daffodils, bright yellow forsythia and the budding of myriad bushes to the sparkling lake and you might just say it was a perfect day to be in real estate!
When I tell people that I have a real estate blog I usually get an odd sort of nod in response as if to say, that’s nice but why?Aren’t blogs for politics, pundits and social media addicts? And, why a blog rather than a traditional, static real estate website?
What is so cool is that this blog is actually both a real estate website where you can simply search all day for properties in the Lake Norman area AND a blog where you can also read over 700 articles I have written about my favorite topics:
- The Lake Norman real estate market ( I do at least two comprehensive home sales analysis every month to keep my readers up to date on the everything from overall home sales to waterfront home sales to new construction and even comparing Lake Norman to the national housing market).
- Relocating to Lake Norman
- Life in Lake Norman
- Local news that my readers might find particularly interesting
- Photos and more Photos and videos are coming too!
The traditional real estate websites all seem the same to me. You can go and search for listings in every way imaginable, get standard, boiler-plate information for buyers and sellers about real estate and learn about why you simply must use Rita Real Estate because she is #1 and sold millions of houses and has a really old photo that doesn’t even look like her. (Okay, that was simply mean! But true ;-).
My Lake Norman Real Estate blog is a whole different way to learn about real estate which enables the consumer to get all of the services and property search tools found on old-fashioned sites AND learn real, up-to-date and personalized information about a community, neighborhoods, real estate sales trends and guidance from me, a real estate agent who is working every day in the community about which I write.
How to use this Lake Norman Blog-site
Notice the SEARCH FOR HOMES link at the top of my home page. My blog’s property search has all of the MLS listings that typical real estate websites have as well as some cool tools to research a property, find out the absorption rates and get an estimate of value which uses a unique program created by a local Charlotte based company.
This is Lake Norman:
This is similar to what you are reading right now!
This will always bring you back to the home page when you click on it
Here is where you learn about me including my experience, education and client testimonials
Contact : Email or call me anytime! firstname.lastname@example.org
It is my goal to convey to my readers my passion for Lake Norman, my expertise as a Realtor and my desire to work with clients with whom I share a mutual trust and respect.
So that’s it! Welcome to the Blogosphere!
Now, if you have any questions or suggestions for topics that I should write about please leave me a comment or contact me directly!
If you truly want to learn anything and everything about Lake Norman, there is only one man to turn to: Gus Gustafson! Although I have seen his fishing articles in The Charlotte Observer I had never met him until I had the pleasure of hearing him speak to our Mooresville/Lake Norman Exchange Club this past Thursday.
For some reason I had always expected him to be a crusty old fisherman and I couldn’t have been more wrong! It turns out Gus Gustafson is the Cotton Ketchie of Lake Norman. Yes, he is exceptionally knowledgeable about all aspect of Lake Norman, but his sense of humor and very tall, strong and lively demeanor makes an entire room light up; you would hardly know you are actually LEARNING about Lake Norman or fishing!
- Gus has fished Lake Norman since it was created in the early 1960’s
- He has his USCG Captain’s License
- He is the “premier fishing guide on Lake Norman”
- He has a weekly column, “Fishin’ with Capt. Gus”, which is published in The Charlotte Observer, News at Norman, The Lake Norman Times and many others.
- Gus’s website: Lake Norman Stripe Fishing, features a weekly column, a monthly fishing forecast, and “Fish Tales and Other Stories Told by Gus”
- Owner of Lake Norman Ventures Inc which provides everything from fishing guide services to luxury chartered boat tours of Lake Norman to the Lake Norman Laugh Liner!
- Innovator or seller of boating and fishing products which he sells online on his website.
- Gus provides speeches and demonstrations to clubs and organizations abut lake issues, boating safety
- Gus provides fishing clinics and seminars
- President of Lake Norman Striper Swipers
- Consultant for the Lake Norman Marine Commission
While you might think that his knowledge and passion is all about fishing you would be terribly wrong. It was clear after hearing him speak that his passion is all about Lake Norman…from the water quality, to the best times of year to visit Lake Norman State Park to when to expect to see Blue Herons, Osprey, Loons and where, down to specific Markers like D4 and D6, to the nature walk and movie at the Duke Energy Explorium.
In his most recent article written on February 10th entitled: Rising Water Levels, Gus writes about lake levels and how they affect fishing, some tips and a list of upcoming events like a new boating course on February 19th “Navigating Lake Norman” held at Mitchell Community College. He also provides current lake levels and a Hot Spot of the Week for fishing.
I plan to hire him to take me and my husband on a long tour of Lake Norman so that I can take my Lake Norman home-buyers out on our boat and introduce them to our incredible lake while viewing homes from the water!
I don’t often take too much stock in real estate news sources top ten lists because they tend to make gross generalities that sometimes contradict reality for our Lake Norman real estate market. However, this recent article in Forbes: Best Cities For Bargain House-Hunters , caught my attention because Raleigh NC was #2 and Charlotte #4.
Well, what did they consider when ranking for “bargain house-hunters”?
They were looking for markets with:
- Strong job growth
- Relatively low foreclosures
- High inventory of active listings both new construction and resale
So, a buyers market, healthy job growth and more inventory than buyers…that sure sounds like Lake Norman AND Charlotte!
When I first saw the headline I thought of locations that have large foreclosure rates and unemployment like parts of Michigan, Florida and California. But, truly, those may seem like bargains yet they don’t have the strong foundations of jobs that we do here in Lake Norman and Charlotte and they have too many foreclosures.
Here is what Forbes said about Charlotte: “Just like in-state neighbor Raleigh, Charlotte has expanded quickly as the result of an economic boom that has drawn many residents from the North and Northeast. The financial sector is largely responsible and this is something to keep an eye on as banks’ woes continue. While the city continues to growl, building activity has supplied plenty of inventory on the market keeping thing in the buyer’s favor.”
Just like the Three Bears, we are not too hot or too cold but just right for buyers!
So, you are finally here. You’ve moved to Lake Norman, whether for work or like me and my family because you fell in love with it, and now that you are here you turn around and realize you are complete strangers! How do you go about meeting new friends here in Lake Norman?
Trust me, I have moved many, many times in my life and I have never found a community more welcoming to newcomers. When we moved here the sellers of our new home had neighbors over to meet us even before our sale was final.
Perhaps it is because Lake Norman and the greater Charlotte area is the destination of so many “transplants” from around the country. But, since so many of us are newcomers, it truly was an almost seamless transition for us.
One of the best resources is newcomers clubs. I am a member of the Mooresville/Lake Norman Newcomers Club; a group of about 200 women that meet the first Wednesday of every month at 10:00a.m. at the Lake Norman Christian Ministries located at 2940 Charlotte Hwy (Hwy 21) just south of Brawley School Rd. The list of monthly events includes: Bowling, Canasta, Euchre, Watercolor Painting, “Chick Flicks” (movies!), Couples Bridge, Oil Painting, Ladies Bridge, Book Club, Couples Euchre, Hiking, Crafts, Out-To-Lunch-Bunch, Garden Club, Ladies Poker, Southern Living Lunch Group (sharing favorite recipes), Golf, Bunco, and special evening programs and outings.
The men’s version of our club is called The Golden Boys. They enjoy almost every sport you can imagine from sailing to golf to tennis as well as many other get-togethers.
Mom’s in Lake Norman have an incredible resource: LakeNormanMommies.com. The Mommies network is a free community for moms of all ages in the Lake Norman area. “LakeNormanMommies.com offers a simple way to connect with local moms for friendship, support and fun. Members meet on our forums to share information on everything from where to get the best haircut to tips on transitioning to a “big kid” bed.” They also offer face-to-face events throughout the Lake Norman area and are a great resource for finding out more about the local schools.
Finally, there are the traditional community churches, schools and civic organizations like The Exchange Club, Rotary, Chamber of Commerce, plus quite a few business networking groups. As President-Elect of the Mooresville/Lake Norman Exchange Club it would be my pleasure to have you as my guest to any of our business lunches held the second and fourth Thursdays of every month at the Charles Mack Citizens Center in Downtown Mooresville.
It was like walking into my best friend’s house after not seeing her for a several years. A few things had changed but when I walked through the doors I felt this warm and fuzzy feeling. I had just rekindled an old friendship and rediscovered a part of my past.
The familiar greeting by one of the crew members, the wall of fresh flowers at the entrance and the Hawaiian theme felt like putting on old slippers. I was home.
When I first heard about Trader Joes coming to the greater Charlotte area I felt that now life in Lake Norman was truly as perfect as any place in the US could be. Yes, I might also like a Whole Foods and a Peet’s Coffee but I can live without them.
So what is it about Trader Joe’s that creates such a cult-like following? I’m amazed at how many of my Lake Norman & Mooresville friends and clients are equally excited about Trader Joe’s. Everyone will have a different answer to this and they will all be true. Going to Trader Joe’s reminds me a bit of shopping in Berkeley when I was in college. You get a sense of being surrounded by healthy, fresh, highly nutritional and even organic foods. But, it also makes you feel a bit like you are a gourmet because they have exotic products that you can’t get in regular super markets. Finally, it makes you want to be a better person. You simply know that you must use canvas shopping bags. In fact, they even have an awards program for people who bring their own re-usable bags for their groceries!
When my husband and I entered the store, we almost immediately went different directions. I went straight to the wall of great salads and prepared meals, the containers of fresh mozzarella cheese, humus dip, the scones and cookies and their frozen Indian and Asian foods. (The pot stickers are great!) My husband headed for the whole-grained baked goods like bran muffins and then directly to the frozen food section where he loaded up with really good frozen Mexican food (especially their green tamales!)
As they say on their website, Trader Joe’s buyers: “travel the world – from exotic locales to local farms and dairies – looking for interesting, great tasting foods and beverages at terrific everyday values.” I highly recommend that you visit the our new Trader Joe’s…it’s really not that far from Lake Norman and well worth the drive!
How to get to Trader Joe’s from Lake Norman
Map to North Charolotte Trader Joe’s We live down Brawley School Rd in Mooresville and the drive was about 28 miles. We took the I-77 south to Exit 18. Turn left on to WT Harris Blvd, turn left on to Mallard Creek Rd and finally right on Mallard Creek Church Rd. The Trader Joe’s is on your left in a new shopping center at the corner of Arbor Drive. The address is 1820 Arbor Drive. 704.688.9578. They are open daily from 9 am – 9 pm. We went on a Saturday morning. There was no traffic on the road and while the store was busy, there was no wait when checking out. I have a feeling this may become a weekly ritual. I hope to see you all there!
It is truly amazing how much I learned about Web 2.0, social networking on the Internet and technology while working on this Lake Norman real estate blog.
Once in a while I have a little fun while doing research for my real estate and Lake Norman area articles. Okay, sometimes I have a lot of fun while working on my real estate articles!
I mean, really, doesn’t everyone need a photo with Lake Norman written on a golf ball or a head that says “LKN ROCKS”?
When I wrote my first post (article) for this blog I hardly knew how to add a picture to it let alone place the picture in the right spot, size it or modify it in any way.
I used ImageChef to create all of these Lake Norman photos. You can write just about anything on a great selection of sign images, license plates, sports items, coffee cups, flowers and even etched in the sand. Warning: Once you get started it is really hard to stop so don’t visit this site unless you have lots of time!
BigHUGELabs is another really great site. It enables you to take digital photos and create all sorts of sorts of fun things from Jigsaw puzzles to artistic photo cubes to different types of framing as I used with this Lake Norman sunset photo.
Okay, so tomorrow I’ll get back to the huge stack of research materials on Lake Norman Real Estate. In the meantime, have fun with these!
MORE FUN AROUND LAKE NORMAN:
Lake Norman Real Estate Mortgage Update: January 11, 2008
As potential Mooresville and Lake Norman home buyers and home sellers I know how important and difficult it must be to fully understand today’s complicated mortgage market. Rates have been going down all this week; there were Fed speeches and I just heard that our own Charlotte-based Bank of America will be buying Countrywide. I decided it would be best to provide you with some insider insight in to the ever-changing mortgage market and how it will affect your Lake Norman home buying or selling process.
It is my pleasure to introduce you all to Matthew Rosov, CMPS of Envision Lending Group. I have been reading his daily updates about the housing market and mortgage rates for quite some time. He is brief and to the point and has earned great respect within the real estate community:
I’m honored that Diane requested that I write for you, her loyal Mooresville Lake Norman readers, this week’s area mortgage market update.
For scheduled news, the early part of the week was rather slow. A few of the regional Fed Market chairmen were scheduled to give speeches to various groups. They all agreed that the Fed would react accordingly to the various economic reports that are due to be released between now and when the Fed meets again later this month.
Thursday saw the release of Jobless Claims for the previous month. The number of jobless claims came in lower then expected which caused rates for Thursday to rise a bit.
Overall, bonds have been reacting well to the news and have been trading in multi-year highs translating to the lowest interest rates in the past 2 to 2.5 years!
Remember that mortgage interest rates are actually tied to the FNMA 30-year bond as opposed to the 10-year Treasury note. Also, remember that bad economic news translates to good news for bonds. So in order for mortgage rates to improve the economy needs to have bad things happening.
I will be asking Matthew to write brief updates on a fairly regular basis. (Even though he is located in Maryland he is able to do loans in North Carolina). Please feel free to contact him with any specific questions regarding your Lake Norman area home mortgages at email@example.com , 301.536.2875 or visit his website – www.matthewrosov.com
This is one of those subjects that can be uncomfortable to discuss but is very important to many Lake Norman area home buyers. As a Realtor, I want to provide as many resources as possible so that you can find any information you may need to feel comfortable about your family’s safety. Whether you are moving to Lake Norman or already own a home here, I hope you will familiarize yourself with The North Carolina Sex Offender Registry
On the North Carolina Sex Offender and Public Protection Registry website you can type in an address and search by 1, 3 or a 5 mile-radius to see not just how many registered sex offenders live in the area but also their home addresses and photos.
On this same website you can also sign up to be notified by email if a sex offender reports moving in or out of the radius of the address you requested.
Buyers many times ask me if a neighborhood is “safe”. The very best way for anyone buying real estate in Lake Norman or anywhere to learn about crime rates and data is to contact the local town police department. And, thanks to legislation like Megan’s Law, we now have this sex offender registry available as well.
Here are a number of other online resources:
- North Carolina Department of Justice
- National Sex Offender Registry
- North Carolina Department of Correction Offender Search Page
- US Federal Bureau of Prisons Inmate Locator
- NC General Assembly
- NC Sheriff’s Association
- NCMEC – Preventing the Sexual Exploitation of Children
If you have any questions regarding Lake Norman or Mooresville real estate or ideas for subjects for me to write about drop me an email!
Real estate is in the news just about every day. Between the national decline in sales, the sub-prime mortgage meltdown, increases in foreclosures and tougher mortgage standards, it’s been a busy time for real estate.
I doubt that the fact that we are in a buyers market in Lake Norman is surprising to you. However, once again, I must quote the saying “all real estate is local” and take it one step further. Lake Norman real estate has pockets of strengths and weaknesses as well as overall trends and it is very important to be armed with this specific information when pricing your Lake Norman home for sale or buying your dream home at the lake.
There is no doubt that our Lake Norman properties have been greatly impacted because of the number of transplants who are coming from markets that are very slow. In fact, I think, because the greater Charlotte, Mooresville and Lake Norman economy is growing we probably wouldn’t have experienced a real estate slowdown if we weren’t so tied in to what happens to potential buyers coming from states that have been hard hit by the current national housing decline.
Here is the 4th quarter summary of Lake Norman real estate sales. All data I used was obtained through the Charlotte Multiple Listing Service and include the entire Lake Norman area #13 with the exception of the Catawba River. (Areas 13: 1,2,3,4,5).
Lake Norman Fourth Quarter Statistics Summary
- Number of Active Listings = 1259 @ an average listing price of $715,736 ( vs 1351 active listings last quarter)
- Number of Contingent Sales = 17 @ an average listing price of $437,607 (vs 20 contingent sales last quarter)
- Number of Conditional Sales = 30 @ an average listing price of $492,041 (vs. 34 conditional sales last quarter)
- Number of Pending Sales = 106 @ an average listing price of $520,159 (vs. 154 pending sales last quarter)
- Number of Solds = 268 @ an average listing price of $495,899 and sales price of $478,708 (vs 360 listings sold with an average listing price of $512,147 and average sales price of $497,699 in the 4th quarter 2006)
- The average sales price was 96.5% of the final listing price (About the same as last year) (Keep in mind the number of price reductions before selling!)
- The average days a listing was on the market was 116 where as the average days a listing was on market in the 4th quarter 2006 was 105
- We currently have a 18.8 months of supply of inventory. (A balanced real estate market has between 6-8 months of inventory. This high number would substantiate that we are definitely in a buyers market in Lake Norman.)
- Our average sales price has dropped 3.8% versus the same period of 2006
- Our sales volume in the number of units sold has declined 25.5% versus the same period of 2006
What does this all mean? In a nut shell, the sales volume in the Lake Norman area has dropped by a whopping 25.5% but the average sales price has dropped only 3.8% compared to the fourth quarter of 2006 and our inventory of active listings has dropped 6.8% since October 1. Because our number of sales dropped so significantly, even though we have slightly less inventory of homes for sale in Lake Norman we currently have significantly more homes for sale than meets the current demand.
Lake Norman 4th Quarter Sales Analysis By Price Range:
This chart provides you with a number of ways to analyze our sales:
- Compare the percentage of the properties sold by price range to the percentage of the actives. Example: Properties listed between $300,000 – $399,000 were 20.15% of the sales in the 4th quarter but represent only 12.55% of our active listing inventory. This is a strong price range compared to many others.
- Look at the DOM which means the Days a listing was On the Market before it sold. The average DOM for the 4th quarter for all of Lake Norman was 116 days. Obviously, the shorter the time on the market the better for sellers and the stronger the sales were in that price range.
The most important number, however, is the months of supply on hand or the “absorption rate”. The months of supply on hand is simply a way to determine, if no new listings were to come on the market and we continued to sell at this current rate per month then how many months would it take to sell out of homes.
Economists say that a healthy, balanced market should have between 6 to 8 months of supply on hand. Therefore, any price range that falls short of these numbers would be very active, lacking in enough listings and basically a sellers market. On the other hand, any price range that has more than 8 months of supply is probably overstocked with listings for the number of sales and therefore it becomes a buyers market. It truly is as simple as supply and demand.
I have highlighted in Yellow the price ranges that are under-stocked and therefore a Sellers Market and the Green price ranges are overstocked and therefore a Buyers Market
The bottom line is that the overall Lake Norman real estate market has slowed down versus 2006 and inventory is up which would indicate that as a whole, we are in a Buyers Market. However, the lower price ranges are actually very active and there is a lack of inventory.
If you are a buyer, then take note of the price range you are considering to learn what kind of bargaining power you might have.
And, if you are a seller, note that the listings that did sell sold relatively quickly. The key for all sellers right now is to price your home realistically AND stage it so that it is perfect for the few buyers that are looking in your price range.
Buyers looking for Lake Norman waterfront homes or lots have over 520 miles of shoreline inventory from which to choose. This is part of what draws so many people from all over the country to Lake Norman to find their dream home, cottage, or even lot for future retirement.
Because there is a finite supply of shoreline there is also a finite number of waterfront Lake Norman homes and lots. It is truly necessary to study the supply and demand for these waterfront properties separately from the rest of Lake Norman real estate.
According to the Charlotte Regional Multiple Listing Services (MLS) there are currently 366 waterfront homes and 259 waterfront lots listed for sale on Lake Norman. The average listing price for a waterfront home is $1,248,759 and for lots is $586,965. Prices range from the $200,000’s to $6,250,000 for an 11,395 square foot waterfront estate!
Lake Norman real estate sales, overall, have slowed due to the national housing downturn and sub-prime mortgage problems. But, what about our waterfront homes and lots?
LAKE NORMAN WATERFRONT SALES 2007 VS 2006
(Period analyzed: September 1 – December 28)
Average days on the market:
- 2007: 113
- 2006: 94
- % change: +19% longer this year vs. 2006
Average sales price:
- 2007: $944,909
- 2006: $909,286
- % change: + 4% increase in average sales price
Average size of the waterfront home:
- 2007: 3722 square feet
- 2006: 3601 square feet
- % change: +3%
Average price per square feet:
- 2007: $254 per square foot
- 2006: $252 per square foot
- % change: 0
Number of waterfront homes sold:
- 2007: 69
- 2006: 107
- % change: -35%
If you look at these statistics you will see that while it took longer to sell a waterfront home this past fall and the number of waterfront homes that sold dropped 35% the average sales price actually had a modest increase during this period as compared to the same period in 2006. The weakness, while not quite as signifcant as the entire Lake Norman real estate market, is the amount of inventory of active waterfront listings which is more than double that of a balanced real estate market .
What is interesting for a seller or prospective seller of waterfront property to note is that the average days unsold listings have been on the market is 140 which is significantly higher than those that sold. In this market, it is critical to price your home at market value!
A Quick Look at Lake Norman Waterfront Lots
My MLS sales analysis of Lake Norman Waterfront lots resulted is much the same findings as above for homes. This fall fewer lots sold and they took a bit longer to sell but their average sales price was up from $400,752 to $539,643.
Before our downturn in early spring 2006, waterfront properties were hot and I expect them to be again once buyers gain confidence in the economy. Our local economy is very strong and with our limited supply of waterfront homes and lots, I would expect them to be “hot” again. If only I could say when! If you have read my previous articles you will know that I am predicting a flat real estate market in the Lake Norman area for 2008. As we get in to the new year, I will keep updating my sales analysis and the future trends.
Mooresville Relocation Resource List
Researching the Mooresville North Carolina area when contemplating a move is an exciting adventure! There is so much information available it can be a bit overwhelming. Here is a comprehensive list of website links to help you learn about our area; from town, county and state government sites to detailed information about schools, recreation as well as plenty of just plain fun things to discover! Also, be sure and take a look at my list of articles on the left column of this website to learn more about life in Mooresville!
TOWN OF MOORESVILLE
- Convention and Visitors Bureau
- Historic Downtown Mooresville
- Iredell County, N.C.
- Town of Mooresville
- Mooresville-South Iredell Chamber of Commerce
- Mooresville Graded School District
- Mitchell Community College
- Iredell-Statesville Schools
- Statesville Christian School
- PIT Instruction & Training
HEALTH CARE/AREA HOSPITALS:
- Lake Norman Regional Medical Center (704.660.4000)
- Presbyterian Novant Medical Center Huntersville(704.316.4000)
- Presbyterian Novant Medical Center Charlotte (704.384.4000)
- Presbyterian Novant Orthopedic Hospital (704.316.2000)
- Carolinas Medical Center (704.355.2000)
- Carolinas Medical Center- Huntersville (704.512.3100)
- Carolinas Medical Center University Area (704.863.6000)
- Carolinas Medical Center-Lincoln (980.212.2000)
- Iredell Memorial Hospital (704.873.5661)
- Mooresville Lowes YMCA
- North Carolina and South Carolina Golf
- Lake Norman (See Lake Norman Relocation Resource Link below)
- Davidson’s Farmers Market
- Josh’s Farmers Market and Produce Stand, Mooresville
- Lake Norman Where to Find Fresh Produce Stands and Farmers Markets
- Foothills Farm Fresh in NC:
- Farm Fresh Markets
- NC Dept of Agriculture
The Iredell Council on Aging:
- Statesville: (704.873.5171)
- Mooresville: (704.663.5112)
- Troutman: (704.677.2386)
- Services: Congregate Meals, Home Delivered Meals, Chore Service, Respite Care, Transportation
South Iredell Senior Center, Mooresville: (704.662.3337)
- SISC offers a wide variety of health, education, recreation and social activities for people who are 60 years of age or better
- Located in the Charles Mack Citizen Center in downtown Mooresville
- Senior citizens are involved at the Senior Center as participants, group leaders, instructors, volunteers, advisory council members, Title V personnel, and employees
Centralina Area Agency on Aging: (704.372.2416)
- The Senior Community Service Employment Program
- Developing the mature and older worker for meaningful employment
OTHER ARTICLES OF INTEREST:
Once you have narrowed your destination to the Lake Norman area, it can be difficult to choose in which town or community to look for your new home. The land around Lake Norman comprises 4 counties and 10 towns; each with it’s own character. “Relocating to Mooresville NC” is the first in my series about each of the 10 towns.
AT A GLANCE:
Population: 23,100 (2006)
Median Home Price: $208,274 (2006)
Average Property Taxes: $1,406
Location: 30 miles north of Charlotte in Iredell County on the east bank of Lake Norman straddling the I-77 highway. 2 hours from the Blue Ridge Mountains and 4.5 hours to the ocean.
Geography: Located in the Piedmont section of North Carolina, Mooresville stretches from the east shoreline of Lake Norman on its west through the Historic Downtown eastward to farmlands that abut Rowan and Cabarrus County. The unimproved land in and around Mooresville is a combination of hardwood and pine forests and farmland.
Weather: 4 distinct but mild seasons. Average annual rainfall: 49.32″, % Clear days = 30%, Average high temperature in July: 87.7, Average Low Temperature in January: 26.8.
- As “Race City USA”, Mooresville is home to more than 60 NASCAR racing teams
- Mooresville is the world headquarters for Lowe’s Home Improvement Company
- In 2007 Mooresville was named in top 100 of Money Magazine’s Best Places to Live
- Mooresville was named nations top micropolitan area by the economic trade publication Site Selection for past 3 years
- Mooresville is the sixth fastest-growing municipality in North Carolina
Real Estate/Housing: Mooresville real estate ranges from modest bungalows in the historic downtown area, first-time buyer subdivisions in the $100,000s, family-oriented communities like Curtis Pond in the high $100,000- mid $200,000s, on up to The Point, a Crescent Homes development covering 1,200 acres on a peninsula jutting out into Lake Norman. With 18 miles of shoreline, an 18-hole gold course designed by Greg Norman, this country club community has homes ranging from the $600,000s to more than $5 million. As a Realtor I can honestly say we have such great diversity of types of housing that I think there is something for everyone!
- Lake Norman: Offers every type of water sport you can think of; boating, sailing, water skiing, fishing, kayaking and canoeing to name a few
- Golf: There are public and private golf courses within the Mooresville community plus myriad in the greater Charlotte area
- Lowe’s YMCA: A new, 57,00 sq.ft. facility with state-of-the-art fitness equipment, indoor water park, full gymnasium, indoor walking track and outdoor running and walking trail, childwatch, personal training, youth and adult sports, camps, field space, racquetball and lap pool.
- Mooresville Parks and Recreation Department: They are currently developing a greenway, new skate park and the new Mazeppa Road Park which will include softball, baseball and soccer fields, dog park, BMX/Mountain bike trail, tennis courts, playground structures, a trail system, a recreational center
- Lake Norman State Park
Festivals and Events
- Holiday celebrations and parades
- Cotton Ketchie Arts Festival
- Lake Norman Festival
- Monthly Art Gallery Crawls
Schools: Mooresville has it’s own very highly regarded school system: the Mooresville Graded School District. Those outside the town limits attend the top-ranked Iredell County Mooresville schools serving the Lake Norman area. There are also a number of private schools.
Retail Stores: Thanks to our strong economy we have a great selection of chain and private retail stores from Best Buy, Best Bath and Beyond, Staples, Sam’s Club, BJ’s, Super Target, Super WalMart, Belks to high-end specialty stores like Lavender and Sweet Grass.
Markets: Harris Teeter, Lowes, Food Lion, Target and WalMart (Fresh Market, Whole Foods and Trader Joe’s are in the area south of Mooresville)
Restaurants: Upscale options like Epic Chop House, Al Gusto, Prickly Pear, Jeffrey’s, Joel’s, Carussos, La Patisserie to fun spots like Shoal’s, Lancaster’s Barbecue, Big Daddy’s to chains like Panera Bread, Camilles and Starbucks to wonderful home cooking like The Daily Grind and Sun Up. We also have every fast food and pizza chain I can think of!
Seniors: The South Iredell Senior center is located in the new Charles Mack Citizens Center and offers an array of services, activities and entertainment
Healthcare: Mooresville is home to the Lake Norman Regional Medical Center and continues to attract high-quality physicians in private practice as well
The recent and current growth of Mooresville, including housing, retail shopping centers, office buildings, medical offices and even much anticipated resort Langtree at the Lake have transformed a sleepy textile community into a thriving eclectic community drawing people from all over the country. I love the fact that I can spend time in the historic downtown and experience the essence of a small, close-knit southern town, drive a few miles to find all of the conveniences of a big city or take our boat out on the Lake and escape it all to enjoy the incredible beauty of nature.