Lake Norman Real Estate Market Reports

Mooresville Home Sales are HOT!

I had a friend ask me if I would do a sales analysis of Mooresville’s 28115 zip code because this area is not a part of my Lake Norman market reports.  I said sure!  Just to clarify, area 28115 is almost entirely the Town of Mooresville and is east of I-77.  Almost all of the portion of Mooresville on the Lake Norman side of I-77,  which has zip code 28117,  is considered Mooresville but is actually in Iredell County and does not receive any services like sewer, water etc. from The Town of Mooresville.  The Town of Mooresville even has a separate school system.  Confusing? Yep!

First, I took a look at their total annual sales comparing 2016 to 2015:

Town of Mooresville Market Report 2016 vs 2015

*All date is from the Charlotte Multiple Listing service

So, as you can see, Mooresville’s number of homes sold in 2016 was 14% higher than 2015, the average sales price was 8% higher than 2015 but the days on the market was just about identical.

Next, let’s take a look at the past 6 months in more detail:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2011 Hot Sheet in Not So Hot!

Lake Norman Hot Sheet Home Sales

 

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

After 5 relatively strong months over the summer and early fall, our Lake Norman housing market has experienced a slowdown since November, once again underscoring the erratic nature of today’s real estate market.  The most significant aspect of today’s Lake Norman numbers is the continued decline in the number of active listings for sale.  At only 837 homes for sale in all of area 13 (Lake Norman), the trend of double digit declines continues.  In December of 2008 we had 1400+ homes for sale in Lake Norman.

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

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

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

Special Conditions:

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

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

Green Certifications:

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

Energy Efficiency Rating:

  • HERS (Home Energy Rating) Index

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

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

Progress is exciting!

RELATED ARTICLES

Lake Norman Real Estate’s How Green Is Your Home

Lake Norman Relocation and Resource Guide

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

Entrance to The Point, Luxury Waterfront Lake Norman Community

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

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

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Lake Norman Real Estate Predictions for 2010

Lake Norman's Crystal Ball

 Truthfully,  2009 was a pretty easy year to predict real estate trends in our Lake Norman area. (See my 2009 predictions).  Prices came down, foreclosures and short sales dominated our market, new construction ground to a screeching halt putting many of our local builders out of business, and lenders made everyones’  lives extremely difficult. Yes, it was a tough year for home sellers and home buyers.

However, looking forward in 2010 I am not seeing a lot of black and white but rather a medium shade of grey.

For our Lake Norman real estate market 2010 will be a turning point.  The question is, how bumpy will the road be, how far down the road will we hit the turn, and will it be a gentle, hardly discernible curve or a pronounced change in direction? 

The Big Picture:

To a certain degree, our Lake Norman housing market’s ability to begin to stabilize will depend on the national financial policy makers.  Our national financial uncertainly makes it extremely difficult to make solid predictions for our local market.  Here are some of the major issues that will play a significant role in our housing market this year:

  • At the end of march, the Federal Reserve will end its $1.25 Trillion program backing the mortgage market and helping to keep interest rates low.
  • FHA is currently working on legislation to tighten their underwriting standards although progress is being made to modify and soften their original requests.  This tightening was initiated by a need for capital reserves due to losses FHA has absorbed since the recession began.
  • Only a modest rebound in housing starts is expected.  Builders who have survived are still finding it nearly impossible to get loans for new projects and spec building is almost not existent.
  • The homebuyer tax credits will end April 30th – June 30th.
  • There is expected to be another wave of  resets of adjustable and interest only loans, especially on jumbo loans, which means sharply higher monthly payments for those homeowners.  This may trigger another wave of shortsales and/or foreclosures.

Regionally:

Our Lake Norman housing market is also going to be impacted significantly by regional economic components, especially jobs.

  • North Carolina’s population growth was the third highest in the US  according to the Charlotte Business Journal.  Lake Norman is still a destination for people throughout the US.  While many of my out-of-state buyers have had to delay their moves here, very few have actually canceled them.
  • Jobs play a huge role in our recovery.  The jobless rate in North Carolina started to lessen in November however unemployment rates in Mecklenburg and Iredell Counties remain higher than the state average.  North Carolina pundits seem very mixed in their economic vision of 2010 but they do seem to agree that unemployment has peaked and that we will see improvement by the end of 2010 if not sooner.  But everyone agrees that we must see job improvement before we see any significant change in our housing market.  

My Predictions:

  • Bargains will continue to drive the market.  More and more homebuyers who have been sitting on the fence will realized that these bargains, once gone, won’t necessarily be replaced so they will be more confident and motivated in 2010.
  • A year of  foreclosures and short sales.  Sellers who have been hoping to sell at a price that allows them to at least break even are going to run out of time. We will continue to see active listings slowly evolving into short sales or foreclosures.
  • Shadow Inventory?  One of the biggest questions I have is just how many Lake Norman homeowners are either waiting to sell until they see a turn in the market or have withdrawn their homes from the market (which accounts for our drop in inventory) while planning to bring them back on the market once they see signs of improvement.  If, just when our inventory of homes gets down to a good number (6-8 months of supply), a large number of sellers who have been waiting  jump into the market, then we will again face high levels of inventory and a second round of a buyers market.
  • A year of stabilization more than recovery is what most everyone is saying throughout the country.  Personally, I don’t think it will be an exciting year with significant changes but rather a slow, methodical road towards recovery.  2010 may hold some surprises but for the most part it will be a year of righting the ship and preparing to sail slowing forward in 2011.

I would love to hear your thoughts and predictions. Please leave a comment!

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Lake Norman, Our Inland Sea 

Lake Norman Relocation Resources 

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s Friday Hot Sheet 10/23/09

October 23, 2009 Lake Norman Hot Sheet

Lake Norman Real Estate's October 2009 Hotsheet

 Some would argue that an analysis of any two-week  period in our Lake Norman  real estate market is simply too short a time time frame to be meaningful.  However, I have found that these monthly two-week reports, especially when put in context with the past 5 months, can actually provide us with a good pulse on trends in the Lake Norman housing market.

Today’s report is another great example of this

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

Highlights:

New listings , while low compared to most months, they did increase slightly compared to last month.  We still have 1434 active listings in Lake Norman as of today which is about even with last month.  One of the most important components of our Lake Norman housing recovery is a decline is inventory.  We are on track to sell about 70 properties in October which translates to about 20 months of supply or almost 4 times the inventory for a balanced housing market.

The number of properties that came back-on-the-market, most likely due to cancelled contracts, dropped significantly!  Despite the challenges of the current loan market, it looks as if Realtors and buyers are working better with the banks and perhaps buyers are more motivated to buy because they are purchasing a foreclosure or short sale.

The number of price changes also dropped significantly.   This is a bit surprising considering that prices are dropping around Lake Norman. We will have to watch this trend.

Pending home sales are significantly lower.  Since these are an indicator of future closed sales I predict our October sales will be about the same as September.

The number of closed sales in the past two weeks are back up when compared to last month but still below our summer highs.  

Contingent and Conditional sales remain steady.  Since these are properties that just went under contract, these may translate to a stronger November than last year.

What I have been observing lately with my own buyers is an increased willingness to consider buying this fall or winter rather than waiting for the “bottom” of the market.  This is because they are seeing true “bargains” and understanding that there are some great opportunities to get into a home they could not have afforded several years ago.  In the past two weeks I have negotiated a Lease/Purchase, two short sales and am working on a foreclosure.  This is the reality of our Lake Norman housing market right now.

 Learn More About Life in Lake Norman:

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

60 Things You Should Know About Life in Lake Norman, Part 1

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Lake Norman Real Estate: Foreclosures and Unemployment Rates

Lake Norman Real Estate Analyzing the Data

 

In today’s real estate market, both here in the Lake Norman area as well as the entire country, economic data changes daily.  This is especially true of  the number of home foreclosures.  And it is particularly difficult to stay on top of our local numbers as they are not as readily available.

That is why I got pretty excited when I learned about  this interactive map on the  National Public Radio’s website: Interactive Map:  The Economy Where You Live.  If you click on the link a map of the United States will appear with the option to search three different numbers BY COUNTY:

  1. Foreclosure Rates
  2. Unemployment Rates
  3. Median Household Income

These numbers are updated regularly so you can keep track of trends by county not only where you might be buying but where you are currently living as well.

Today’s numbers for our four Lake Norman counties:

Iredell (including Mooresville, Troutman,Statesville):

  • Foreclosures:  1 in 1662 (one out of every 1662 homes are currently in foreclosure)
  • Unemployment rate: 13%

Mecklenburg (including Charlotte, Huntersville, Cornelius, Davidson):

  • Foreclosures:  1 in 213
  • Unemployment rate: 11.7%

Catawba (including Sherrills Ford, Terrell, Hickory):

  • Foreclosures:  1 in 2479
  • Unemployment rate: 14.9%

Lincoln (Including Denver, Lincolnton):

  • Foreclosures:  1 in 1401
  • Unemployment rate: 14.5%

While I have included which Lake Norman cities fall in each county, it is important to know that there are many other cities in these counties, especially Mecklenburg which includes the greater Charlotte metropolitan area.  It is clear that the more densely populated areas in Mecklenburg County are experiencing a much greater number of foreclosures than the other counties surrounding Lake Norman.

In a report released by RealtyTrac today, the foreclosure related filings in August were ranked by state, the worst being:

  1. Nevada:  1 in 62
  2. Florida: 1 in 140
  3. California: 1 in 144
  4. Arizona: 1 in 150
  5. Michigan: 1 in 234

According to this report, one in every 357 U.S. homes was subjected to a foreclosure-related filing in August.

Overall, the Lake Norman area is doing considerably better than the country but the numbers are not currently trending in a positive direction.

I plan on checking these maps on a regular basis to watch for changes!

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Lake Norman Real Estate’s Growth and Development Update

Lake Norman Construction site

It has been a while since I have written any news related to our greater Lake Norman developments because, quite frankly, most of the exciting projects I have written about have been stalled for the past year due to the national economic downturn.

However, some large and small developments are moving forward.  Here is an update on these:

Four Points Sheraton:  Construction is expected to begin very soon at Exit 28.  The Four Points Sheraton is expected to have about 2,200 square feet of meeting space.

Langtree at the Lake:  While delayed for about a year, Langtree at the Lake developer Rich Howard says he plans to start construction in the coming months.  Also, the Missouri based John Q Hammonds recently announced a 12-story 300 room Embassy Suites will break ground later this summer or early fall and is expected to be completed by early 2011.  It will have a 75,000 square feet conference center which is something our Lake Norman area has needed for quite some time!  Langtree at the Lake.

Augustalee:  Once called the Village at lake Norman, the Augustaleeis a $515 million mixed-use development at I-77 and Westmoreland Rd (at a new Exit 27) which will include The Grand Hotel, a 250 room, 10-story building featuring ballrooms, conference facilities, a full service restaurant as well as a boutique hotel with 100 rooms and retail on the first floor.

Cornelius One: This three-story mixed-use project located at 18615 West Catawba in Cornelius will include a restaurant and retail on the first floor and offices on the second and third floors.  Developer Kenny Habul is awaiting rezoning approval.

The Widening of West Catawba Blvd:  While those of us are watching the progress of the widening of  Brawley School Road which is slated for completion in 2011, the widening of West Catawba Blvd will be completed in the next 60 days!  Simonini’s The Preserve at Robbins Park that I have written about previously is also making progress.  Once completed, Catawba Blvd will be fully landscaped and according to Commissioner Dave Gilroy, will be “simply gorgeous”!

New Exit 31:  Our new Exit 31 is expected to open this summer!

Courtyard by Marriott and a Holiday Inn Express:  Both of these hotels in Statesville are due to open this month!

TownPlace Suites by Marriot:  Located off of Exit 33 in Mooresville, this hotel is scheduled to open in October of this year.

Larkin:  I first wrote about this massive multi-use development project just south of Statesville about two years when it was ramping up to high gear.  There was great excitement and property around Exit 45 was scooped up by potential investors and developers.  The site has been annexed by the City of Statesville and and some of  the plans have already been approved by the Statesville City Council.   According to the Statesville Record and Landmark, since then “nothing of any substance has been done with the site.”  “I honestly believe that Larkin will happen” said City Manager Rob Hites.  “But it’s really hard to say right now when it will happen.”

Equestrian Subdivision in Mooresville:  NASCAR race car driver Jeremy Mayfield’s former home located at 3245  Jackson Rd in Mooresville was purchased by Ron LeGrand who has teamed up with Sill Creek Team and developer Urchel Hill to launch a 73-home equestrian subdivision on 135 acres.  While the land is currently empty, developers have already put in the road and other community amenities and are optimistic about its future.

The Club at Westport:  I recently wrote a separate blog post about the opening of the Club at Westport and the new residential plans for the rest of the development in Denver on the west side of Lake Norman.

Lake Norman’s new community sailing and rowing is open!: After years of work, the North Carolina Community Sailing and Rowing Center is now open.  Located at Huntersville’s Blythe Landing Park,  this facility is truly for anyone interested in learning to sail or  row, from Senior citizens to the disabled to our youth.  A non-profit organization and its volunteers operate the center in partnership with the Mecklenburg County Parks and Recreation.

It is interesting to look back several years and read news articles and my old blog posts focused on building moratoriums and smart growth plans.  Our national recession has actually provided our fast-growing Lake Norman communities the time to take a deep breath and prepare for the future growth that is sure to return once our economy has stabilized.

RELATED ARTICLES

A Sneak Preview of The Club in Westport, Denver NC

The Preserve at Robbins Park:  Not Just Another Housing Development

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Lake Norman Real Estate: The Big Picture

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The recent uptake in home sales, both here in Lake Norman and throughout many parts of the country has led to a flurry of speculation about whether we have hit the bottom of the housing market.

This week the National Association of Realtors came out with some strong “Pending” numbers (homes that are under contract and ready to close) in their Pending Home Sales Index  and painted a rather upbeat picture of the national housing market’s future.

Federal Reserve Chairman Ben Bernanke told Congress on Tuesday the “housing market is beginning to stabilize and the recession should end later this year.”   He went on to say “that growth will remain slow and unemployment high for a year after the recession ends.”

These reports have caused an explosion of speculation among Realtors on blogs throughout the country. Zillow jumped into the fray in their Zillow Advice discussion.  Zillow.com’s Spencer Rascoff wrote a blog post ” Sorry to spoil the party, but we’re not at the bottom!” in which he shares some sobering numbers for home sales and median prices for the first quarter of this year.  While he acknowledges that there are bright spots, he also goes on to explain his concerns for a “massive amount of shadow inventory”.

Bernice Ross, a regular columnist for Inman News  and other real estate news sources, wrote an article ” Estimating a real estate bottom” in which she underscores the important of the amount of INVENTORY when trying to determine the best time to buy.  Just as I have written in my monthly and quarterly sales analysis, she notes that any more than 8 months of inventory of active listings indicates we are still in a buyer’s market. “….prices lag behind inventory changes.  For example, many parts of Florida and California are currently seeing big drops in the amount of inventory….nevertheless, the property values are still decreasing.  As the excess inventory is absorbed, prices will stabilize.”

Here is our greater Charlotte and Lake Norman area, the big news this week was the speculation about whether our behemoth developer, Crescent Resources, will be filing for bankruptcy protection:

Crescent bankruptcy filing possible

Crescent Resources’ trouble mirrors real estate’s fall…

There is no doubt that we are seeing signs of improvement, even in our local Lake Norman real estate market.  Like most of the nation, First-Time Home Buyers are fueling this increased activity.  However, we are still sitting on between 20 to 25 months of supply of active listings.  I will continue to provide my hot sheets, monthly and quarterly Lake Norman home sales statistics so that together we can watch for signs that we are nearing our bottom here in Lake Norman.

Learn about Life in Lake Norman

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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Lake Norman Real Estate: Home Loans; The Good and Bad News

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While you might think that listing a home and getting a good offer is the toughest part of our Lake Norman real estate market these days, in my opinion you would be wrong.  The greatest challenge in most cases right now truly is getting a lender to actually make a loan and close a sale!

We all know that banks and mortgage institutions are having their own tough times.  However, the current home loan market is so challenging that it is impeding any progress we might be able to make in the process of restoring our Lake Norman housing market’s stability.

The problem is that we have gone from having mortgages that were too easy to get to an irrational system that makes it nearly impossible to get a loan!  Just ask anyone who has tried to get a “Jumbo Loan” lately.  Jumbo loans are loans above the $417,000 ceiling set by Freddie and Fannie.  Right now they are more expensive (1% or more higher interest rates) and much harder to get.  This in part explains the significant slowdown of Lake Norman area home sales above $400,000.

Probably the single greatest challenge I have experienced lately is with appraisals and it is going to get worse starting this Friday May 1st (2009) when all banks are going to have to use management companies to choose the appraisers.  Not only will lenders and brokers not have any contact with these appraisers, but there is no guarantee that the appraisers will even be well versed in the neighborhoods in which they are doing the appraisals.

Even before this, it has not been uncommon for the appraisal to come in at the purchase price just to have the underwriter throw out the appraisal and order a field appraisal which is less likely to take into consideration special qualities and amenities that make a property more valuable.

I guess what I find most frustrating is that a person’s home and property’s value in many cases is being determined by automated computer programs which don’t allow for considerations for so many qualities that add to it’s value to a home buyer.

The Good News:

USDA Rural Housing Program loans are available in much of our Mooresville and Lake Norman area.  These loans can be 100% financing with no mortgage insurance and no money down much like a VA Mortgage.  See the USDA Rural Loans website or call your loan officer to find out if the home you are selling or buying qualifies.   On April 20, 2009 they increased their income structure for 1-4 person household to $70,750.

Other helpful websites:

United State Departement of Housing and Urban Development (HUD)

Making Home Affordable

Hope Now (Foreclosure prevention assistance/counselors)

It is not impossible to get a good loan and close a sale these days.  But, it is a lot more challenging!

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Lake Norman News, Events and Celebrations

Lake Norman Real Estate: News

 

One of the advantages of being a REALTOR is that I am constantly driving around, networking and reading so I am able to observe and hear about what’s happening and monitor the progress of our Lake Norman growth and development.  Here are a few updates I thought I should share:

Langtree at the Lake has gotten approval from the Mooresville  Town Commissioners to use a new form of bond financing for their portion of the public improvements required for this $800 million resort development.  There will be several public hearings and more details to follow.  What is important is to see that Langtree at the Lake is still progressing despite the economic slowdown.

Speaking of Langtree, the new traffic circle for the nearly completed Exit 32 is complete.  And, the progress at Exit 32 is significant. This is a photo of the new traffic circle at Alcove and Langtree Roads.

The widening of Brawley School Road is progressing nicely.  Here is a photo taken near where the widening begins at Chuckwood.  So far the utilities have been moved, all trees and structures have been removed, and the drainage systems are just about completed.  As you can see, the grading has also begun!

Meanwhile, our drought has not completely disappeared thanks to a lesser than normal amount of rain this past winter.  Lake Norman is in the yellow which is “abnormally dry”.  White means no dry conditions.  They only update these maps on Thursdays so I am hoping this past storm will improve our drought classification!

According to an article in the Charlotte Observer on March 26th, The Charlotte Region is going to get $12.6 million for energy projects from the stimulus funds for energy efficiency and conservation projects.  Details can be found at the EECBG Website.

North Carolina was given almost $208 million for weatherization and other energy programs according to the same Charlotte Observer article. “The weatherization program rebates as much as $6500 in upgrades to qualified homeowners who add insulation, seal leaks and install more efficient HVAC systems.”  To apply go to the APPSI.EERE.ENERGY website.  (I will be writing separately about energy audits and all of the financing and incentives available for energy efficiency upgrades/updates).

Finally, conforming loan interest rates have reacted favorably to The Federal Reserve’s announcements on March 18th regarding buying Treasury securities and increasing their purchases of mortgage and agency debt.  Today I got word from one lender that they are at 4.75%!

Look for my first quarter Lake Norman Real Estate Sales Analysis and Market Report later this week.

Learn More About Life in Lake Norman:

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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Lake Norman News, Events and Celebrations, lake norman real estate

Lake Norman Real Estate: Wow, A lot of good news!

Mooresville Race City USA

At my Exchange Club luncheon today our guest speaker was Karen Shore the Executive Director for the Mooresville Chamber of Commerce.  I have known about some of what she shared with us but she confirmed that yes, there is some truly good economic news to share about the greater Mooresville/Lake Norman communities!

  • Mooresville-Statesville was just chosen as the #1 Micropolitan in the entire US for 2008 by Site Selection Magazine’s  March 2009 edition! “In 2008, companies made 17 announcements to either expand or build a new facility in the Statesville-Mooresville Micropolitan Area, according to the Conway Data New Plant Database, the official corporate facility tracking service of Site Selection magazine.”  This places us a #1 out of 700 micropolitan areas designated by the U.S. Census Bureau.  “A micro area is a largely rural economy that includes a city of at least 10,000 people but less than 50,000 and covers at least one county.”  Reasons for businesses to move were “competitive business costs, low taxe rates and skilled workforce”.  Mooresville accounted for 12 of the 17 deals!
  • Today’s Charlotte Observer article by Joe Marsuk announced that “John Q Hammons Hotels & Resorts plans to begin construction this year on a 300-room, 12-story Embassy Suites hotel and 75,000 square-foot convention center off Interstate 77’s Exit 32″!  Construction is expected to begin in late summer and last about 16-18 months.
  • On Monday, Mooresville Commissioners finally approved a 100-acre sports complex at Mezzepa Road Park which will include 6 soccer fields, 4 baseball diamonds, walking trails and a playground.
  • In February,Business Week  ranked our Lake Norman town of Cornelius the 7th “Best Affordable Suburbs 2009” in the entire country and 1st in North Carolina!  Consideration was given to livability, short commutes, low pollution, amount of green space, job growth, crime rates, weather, household income, education levels and quality of schools.  Cities had to be within 25 miles of one of the nations most populous cities so any of our towns north of Cornelius would have been to far from Charlotte to be considered.
  • Forbes recently ranked Charlotte as the 4th best housing market in the country!
  • Today’s home mortgage rates in our area dropped to 4.875% for a 30-year fixed home loan.

At a time when it can be down right painful to watch/read our national news, it is truly great to have so much positive news to share with you.  Clearly, while our Lake Norman real estate housing market is struggling right now, there is a bright future.  If the businesses are coming, so too will the demand for housing return.  Unlike many cities in our country which are loosing significant jobs, we will return to our role as a popular destination!

Learn More About Life in Lake Norman:

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2009 Sales Analysis

Whether you are a potential home buyer considering the greater Lake Norman area or a Lake Norman homeowner trying to determine the best time to sell, it has never been more important to be informed in every possible way about our local Lake Norman real estate market.

Our Lake Norman housing market continues to change rapidly.  What was true even a month ago may not be true today.  That said, here is the summary of Lake Norman single family home sales and statistics for this past February.  (The period ending yesterday):

Active Listings:  Unfortunately, our number of active listings has increased by 62 properties since January 1, 2009.  Normally we would look forward to new listings coming on for our peak Spring and Summer months but today we face such a seriously overstocked supply of active listings that any increase in our inventory is not good for home sellers….more supply + low demand = lower sales prices. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s Friday Hotsheet 2/20/09

Lake Norman Real Estate Friday Hot Sheet

February 20, 2009

 

Above is a chart with today’s “Hot Sheet” numbers from the Charlotte Multiple Listing Services for single family homes in Lake Norman (Area 13).  These numbers represent a snapshot of the past TWO weeks of activity.  As always, I have provided 2-week Hot Sheets from the past to enable you to put these numbers in context.  Here are the highlights:

  • New listings dropped slightly but still remain very high when considering the fact that only 27 properties closed during this same two-week period.  If we add these new listings with the listings that came back on the market we see that 169 listing have been added to our currently overstock inventory while 64 homes were put under contract or sold.
  • The number of homes that came back on the market dropped slightly.  This number still indicates the number of homes under contract that are not closing is relatively high when compared with the number that actually sell.  We are still seeing challenges with loans that probably contribute to this number.
  • The number of price changes/reductions has dropped slightly.  It is hard to know if sellers are feeling they have reduced or priced their homes properly or whether these numbers are the result of the time of year.
  •  The number of pending sales remain steady with the past four months.  It will be a very good sign when we see the pendings start trending back upward as they are an indicator for future closed sales.
  • It is great to see that the number of solds are at least back up to the fourth quarter 2008 numbers.  Based upon  our month-to-date sales of 34, I would estimate that we will end February with about 45 sales.  Still very low but much better than January!
  • Conditional and contingent sales remain fairly consistent at 16.

Would you like some GOOD news?  I know everyone is pretty tired of nothing but bad economic news!  Okay, here it is:  Lake Norman home -buyers are back out looking again!  I am getting more showings on all of my listings and have a new listing that had an offer after only one week on the market!

If a Mooresville or greater Lake Norman area home is listed at a realistic price, is in excellent condition and has strong marketing it will sell!

Look for my February Lake Norman Real Estate Sales Analysis next weekend.

RELATED ARTICLES

The Silent Majority of Lake Norman Real Estate Part 1

The Harbour at The Pointe; A Popular Lake Norman Subdivision 

Relocating to Lake Norman: Subdivision or No Subdivision

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The Real Estate Process, Home Buying and Selling Tips

Lake Norman Real Estate: What Home Buyers Should Know Right Now!

Lake Norman future home buyers

Every time I go out with my buyers in our Lake Norman area I gain some knowledge about the dynamics of our market that can’t be acquired merely by looking at our Lake Norman housing statistics and reading the myriad real estate articles in the news.  Now more than ever real estate is very very local.  My insights about the Lake Norman real estate market may not even apply to Charlotte!

If you are serious about buying a home in Lake Norman this spring here are my recommendations:

Get pre-approved for a loan AND then keep in touch with your lender on a weekly basis.  Right now the lending market is so erratic that you can not count on last month’s pre-approval.  I had buyers completely pre-approved but when they finally were ready to write up their offer the lender told them they could no longer get a loan, period.  The rules changed, not their excellent credit or down payment.

Know your priorities and goals and stick to them.  There are so many homes for sale in the Lake Norman area that buyers have almost too many to choose from.  It is easy to get side tracked which leads to more confusion and frustration.  Stay focused!

Look at homes that are priced 10% or more above your intended purchase price.  I can’t tell you how many sellers, including my own, are afraid to lower their prices but keep asking why they haven’t gotten any offers and insisting that if they had an offer they would work with the buyers.  They might ultimately reduce their price lower than you might expect.  You may miss your perfect home that is simply overpriced if you don’t stretch your price-range.

Don’t be afraid to make a low offer!  This goes along with the idea of looking at higher-priced homes.  As a buyer you probably know the market better than the sellers since you are out there looking at active listings.  While there are times the seller will simply not respond, if they have a good agent they will counter with something just to keep the dialog going.

Before making your final decision/offer, ask your agent to provide you with:

  • An MLS archive search of your favorite homes:  This will tell you exactly how long the property has actually been on the market as well as how many times it has been reduced and/or expired and re-listed.  The most recent MLS data might say 100 days on the market when in fact it has listed for well over a year.
  • Tax records:  When did the sellers purchase their home and for how much.  Right now in many Lake Norman neighborhoods prices are back down to 2004/2005 prices so if the home was purchased more recently chances are the sellers are going to have to take a loss.
  • A comparative market analysis:  Learn everything you can about the recent sales and current active listings that an appraiser will use to help you decide your purchase price.  If there are one or two low sales or active listings these will greatly impact the value of the other homes in the neighborhood.  Lenders are so conservative right now that they are even doing second appraisals just before closing.  Our prices are trending downward.  Lenders are very difficult to work with under the best of circumstances but if your purchase price is a bit high it is most likely that you won’t be able to get the loan.

Finally, keep up with the financial news.  The newly passed Stimulis Bill includes an $8,000 tax credit (that does NOT have to be repaid) for first-time home buyers.  There are discussions about further efforts to bring mortgage interest rates down and other tools to revive our lagging national housing market.

Be smart and you will be successful!

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Lake Norman Relocation Resources

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lake norman real estate, Lake Norman waterfront homes

Lake Norman Real Estate: The Waterfront Community of Royal Pointe

Lake Norman's Waterfront Community of Royal Pointe

Tucked down Langtree Road away from the hustle and bustle of Brawley School Rd and the NC 150 is the intimate, upscale waterfront community of Royal Pointe in Mooresville Lake Norman.

Many times overlooked because it is so small and because there is so little turnover, for Lake Norman home buyers looking for an established, well maintained,  waterfront neighborhood where the homes are nestled in mature trees and landscaping and want great open water, Royal Pointe is a must see! Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2009 Sales Analysis

No matter whether you are a potential home buyer considering a purchase in our Lake Norman NC area or a homeowner deliberating about the timing of the sale of your home in the Lake Norman area, it has never been more important to be as informed as possible about our local real estate market.

Our Lake Norman real estate market has been changing rather rapidly.  What was true as little as a month ago may not be true today.  That said, here are the Lake Norman single family home sales statistics for this past January 2009:

Lake Norman Market Report for January 2009      
 %Average%%
Lake Norman2008  Average $  DOM2008+/-$+/-DOM+/-
Active lisitngs1471$737,491      170 
Contingent16 484,281   209 
Conditional 24 581,407   244 
Pending 66 480,092   142 
 Sold24 454,779   1926965%542,22916%14433%
           

Active Listings:  Unfortunately, our number of active listings has increased by 65 properties since December 31, 2009.  While we would normally expect new listings after the holidays, an increase in our tremendously overstocked supply of active listings at this time is not good.  While our number of properties sold was an all time low of 24, if these trend were to continue it would mean that we have a 61 months of supply of homes for sale in Lake Norman! (Balanced market is 6-8 months).

Contingent Sales: This number has increased to 16 from 11 in December…a mildly good sign.

Conditional Sales: The number of homes that went under contract increased from 17 homes in December to 24 homes in January….again, any increase is a good sign.

Pending Sales:  The number of homes poised to closed increased from 55 in December to 66 in January.  This is the best indication of what we can expect in the number of closings in February.

Closed Sales:  I honestly have gone back to our Charlotte Regional Mulitple Listing Service three time today to verify this number because it was so low.  24 homes sold in our entire Lake Norman area (13/1-13/5) in January.  This is a 65% decrease compared to January 2008 and a 58% decline in home sales compared to last month. 

To put this in  number in context let’s look at our Lake Norman Homes Sales Summary Chart:

2008 Lake Norman Home Sales Summary

20092008200720062005
January246987102105
February501059888
March71151153136
April90120143152
May90152182157
June82169227172
July101147166191
August74144180233
September69105135163
October6698117184
November468488145
December6264132134
Totals:24916149217431860

* Please note that all of my numbers come from the Charlotte Region Multiple Listing Service and will not include sales that took place outside of our MLS.

**While my totals on this chart for 2008 sales is 870, when I search on our MLS for the entire year they give me a slightly higher number of 916 so I will use that as our official number for the sake of this analysis.

The number of Lake Norman home sales for January 2009 dropped by 65% from January of 2008 and 61% versus last month.

Summary:  I am hoping that the historically low sales last month were a result of the perfect storm of our national economic crisis, the holidays and lack of consumer confidence.  I am optimistic that our sales will improve this month but even if we go back up to 2008 numbers we still have too many homes on the market in the Lake Norman area.  Home prices will continue to go down until we see an increase in sales and a return to a balanced market.

Learn more about Lake Norman!

Lake Norman Real Estate:  Before Buying Waterfront Property, See it by Boat!

Learn about Gardens and Landscaping in Lake Norman Part 1

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Lake Norman Real Estate: How Walkable is Your Neighborhood?

One of the most frequent questions I get from home buyers planning a move to the Lake Norman area is “how far is that home from shopping?”  Keeping in mind that for the most part, the closer you are to living on the actual shoreline of Lake Norman the farther you are from most restaurants and shopping, most of my clients would like to be within about 15 minutes of at least a full-service grocery store.

Considering there is about 520 miles of shoreline on Lake Norman, explaining the proximity to shopping for each property can be difficult….until now!

I just learned about a really cool new site:  WalkScore.com  All you have to do is type in a specific address at the top and it will not only provide you with a “Walk Score” from 1-100,  but it also provides a map and lists the closest:

  • Grocery Stores
  • Restaurants
  • Coffee Shops
  • Bars
  • Movie Theaters
  • Schools
  • Parks
  • Libraries
  • Bookstores
  • Fitness
  • Drug Stores
  • Hardware Stores
  • Clothing and Music

I found that sometimes their first choice might not be the best one but if you  click on the category a list will drop down of all of the, let’s say, coffee shops, in the area and how many miles they are from your home!

Even though most Lake Norman homes may not get high scores for walkability this is still a great tool for finding the closest services to your home.  Enjoy!

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Lake Norman Home Buyers, Stop Searching for Homes!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 2008 Home Sales Analysis

 

Wow, what a year!  After a significant drop in closed sales in November, we actually had a pretty strong December when compared not only with November 2008 but with December 2007.  And, we in the Lake Norman area were not alone.  December seemed to be a better month for communities all over the country.  Speculation is that the drop in interest rates bumped the sales up.  It is hard to know how long this bump will last but it’s sure nice to have some halfway good news to report!

 

  Continue reading

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lake norman real estate, The Real Estate Process, Home Buying and Selling Tips

Lake Norman Real Estate: What are “Seasonal Views”?

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

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lake norman real estate

Best Real Estate Lake Norman is Back and Improved!

Lake Norman Boat Launch at Stumpy Creek

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

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

Lake Norman Newcomers Drop-in at The EnergyExplorium on 11/19/08!

Lake Norman's Energy Explorium at the McGuire Nuclear Station

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

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Lake Norman News, Events and Celebrations

Halloween Happenings in and Around Lake Norman 2008

 

Lake Norman area pumpkin patch

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

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Historic Downtown Mooresville, Lake Norman News, Events and Celebrations

Mooresville’s Second Annual Historic Tour of Homes October 17-19 2008!

 

Mooresville Historic Home on Museum Home Tour

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.

VIP Reception

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.

The Home Tours

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:

  1. 334 West Center Avenue: The Ernest Henry Miller House (1898)
  2. 318 West Center Avenue: The W.M. Lentz House (1884)
  3. 351 West Center Avenue: The Zebulon Turlington House (1906)
  4. 832 North Main Street: The J.A. Stewart House (1896)
  5. 329 South Academy Street: The Annie Rankin Carr House (1902)
  6. 335 South Academy Street: The Mary Howard Rankin Turlington House (1902)
  7. 354 South Academy Street: The C.L. Emiston House (1920’s)
  8. 318 West Wilson Avenue: The Davidson House (Turn-of-the-Century)
  9. 419 Harris Street: Mooreville Mill Village (1917)
  10. 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!

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Lake Norman Real Estate: The New Community of Chesapeake Point in Mooresville

The Front Entrance to Chesapeake Pointe in Mooresville

With approximately 100 home sites, the new development Chesapeake Pointe located down Isle of Pines in Mooresville is one of Lake Norman’s larger new construction home sites on the east side of the lake. The completed roads wander through the forest of trees from Isle of Pines to the North Shore waterfront subdivision. The up to 1 acre home sites are literally carved out of the trees. It’s hard to tell since it is brand new just how many trees will remain once completed but I’m hoping it will retain it’s private, woodsy feel.

In 2014, Chesapeake Pointe was taken over by PeachTree Residential Properties after struggling during the recession and changing builders several times.  There are now quite a few homes completed with various styles and price ranges.  The Amenities, including the pool, are completed as well.

This is the  original model home:

Model Home at Chesapeake Pointe

 RELATED ARTICLES

Lake Norman Real Estate: Discover Fern Hill Road, Part 1

The Silent Majority of Lake Norman Real Estate Part 1

The Harbour at The Pointe; A Popular Lake Norman Subdivision  

Relocating to Lake Norman: Subdivision or No Subdivision

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lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate: “The Point” : A Case Study #2

The Point and Trump National Golf Club Entance

Several weeks ago I wrote an article Finding the Truth About Lake Norman’s Housing Market: A Case StudyIt 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

Step One:

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.

Step Two:

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.)

Step Three:

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 PriceSales Price% ChangeDays on Market
1$819,000$747,500-8.7%

8/28/06 -7/22/08

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
8$1,750,000$1,550,000-12.9%5/16/08 -7/29/08
9$3,250,000$2,900,000-10.8%10/5/07 – 8/25/08
Average$1,354,247$1,234,302-8.9%428 Days

*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

Step Five:

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.

Summary:

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.

RELATED ARTICLES

Is ‘The Point’ Lake Normans Ulitmate Luxury Home Community?

The Peninsula in Cornelius: A Lake Norman Luxury Community

Lake Norman Waterfront Home Buyers: Before Buying, See it by Boat!L

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Lake Norman Real Estate: Morrison Plantation; Another Urban Village

Town Homes at Mooresville's Morrison Plantation

Unlike Birkdale Village ,  the Mooresville Village in Morrison Plantation doesn’t get nearly the attention yet also offers new and resale live/work style townhomes in an urban village type community where one can walk to shopping and amenities. Located in the Harris Teeter Shopping Center on Williamson Road, Morrison Plantation is a community of Georgetown-inspired townhomes and live/work townhomes that lie just above retail shops.

Shops along Mooresville Village at Morrison Plantation

When Morrison Plantation first broke ground in the early 2000’s there wasn’t much around the townhomes but since then the entire area has exploded with growth including the brand new Lowes YMCA just a half-mile walk away, the newly expanded and upgraded upscale Harris Teeter market, Starbucks, numerous banks, the post office, cleaners, and a great variety of restaurants from Joel’s Asian Grill…THE happening sushi/asian restauant and full bar, The Salad Works, BluStar Grill, Brooklyn Boys PizzaBrusters Ice Cream where they have weekly “cruise in” car shows during the summer, and many other shops and services.

Phase 11 at Mooresville Village Morrison Plantation

The 11th and final phase of live/work style condominium style town homes is under construction. They have only 11 units ranging from the $260,000’s to $350,000’s currently available. Ranging in from 2 to 3 bedrooms, 1778 to 2368 square feet, these brick-front Georgian town homes are expected to be completed by 12/31/08.

Or, if you prefer one of the resale town homes, there are currently 15 units on the market ranging in price from $194,900 – $350,000. Many of the earlier phases have a one-car detached garage and small rear garden as well.

If you want to be able to walk to your local markets, restaurants and services, Morrison Plantation is another Lake Norman option that is already built and move-in ready!

Learn More About Life in Lake Norman:

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate: We are NOT Charlotte!

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!

RELATED ARTICLES

Finding the Truth about Lake Norman’s Real Estate Market: A Case Study

Lake Norman Real Estate: Is New Construction Slammed by Housing Slump?

Lake Norman Relocation Resources

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Legacy Village; Lake Norman’s Newest Live/Work Urban Village!

Lake Norman townhomes

 

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.

Entrance to Lowe's Corporate Headquarters in Mooresville

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.

RELATED ARTICLES

How to Predict the Next Lake Norman Hotspots

Lake Norman Relocation Resources

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Lake Norman home buyers and sellers: Changes to forms effective July 1, 2008!



 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.

RELATED ARTICLES

Lake Norman Real Estate: What does the Closing Attorney Do?

What you need to know about buying real estate in North Carolina

Lake Norman, Our Inland Sea

Relocating to Lake Norman: What you should consider before buying real estate Part 1

Lake Norman Relocation Resources

 

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lake norman real estate

Lake Norman Home Builders Launch “The Lake” Magazine

Lake Norman shoreline

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

Lake Norman Relocation Resources

Lake Norman Sports Resource Guide

Relocating to Lake Norman

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

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Historic Downtown Mooresville, Relocating? Life in Lake Norman

Historic Downtown Mooresville: New shops, Art Galleries and Restaurants!

Historic Downtown Mooresville

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: 

27 Reasons to Visit Historic Downtown Mooresville Part 1

27 Reasons to Visit Historic Downtown Mooresville Part 2

27 Reasons to Visit Historic Downtown Mooresville Part 3

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Lake Norman News, Events and Celebrations

Lake Norman Real Estate: Langtree at the Lake Update

With a development as huge as Langtree at the Lake one might wonder whether they are on target considering our current, challenging national economy let alone the slow down of real estate sales in the greater Lake Norman communities.

While the development truly is a living and evolving project, the overall plans are still intact. The first building, which is slated to be ready for their new homeowners in the Fall 2009, has been redesigned based upon the feedback from potential buyers. The new design will truly take full advantage of the Lake Norman views and maximize them for every condo unit. The building itself is smaller but some of the condominiums facing the lake have been expanded. The corner units that my clients were interested in ranged in price from $1,200,000 to about $1,600,000 depending on which of the 5 floors it is located. (The higher the unit the better the views!)

They have also made substantial progress on commitments from some wonderful restaurants, an upscale market, the 4-star hotel and even auxiliary services like gas stations, pharmacy and such.

Hearing about the latest news as well as seeing the newest renderings reminded me about how truly spectacular this project is. They are creating an entire, almost self-sufficient, luxury community with not just custom-built luxury residences, but an elegant yacht club, marina, and upscale commercial and retail.

And then there is the awesome technology. Their Crestron Audio/Video will enable all residents to:

  • Monitor Security Cameras
  • Contact the concierge service to have groceries delivered, laundry and dry cleaning picked up or delivered
  • Check movie times
  • Check the weather
  • Make boat reservations (they plan to have a fleet of community boats available for rental to residents!)
  • Lower your blinds
  • Listen to multiple music items in different rooms (ie: ipod in one room, XM in another)
  • Control lighting

Visiting their showroom is a great way to get a feel for just how remarkable this Lake Norman resort community will be. If you would like a complete package providing renderings, floorplans and extensive information about the condos themselves, drop me an email with your address or give me a call. Words can not describe it sufficiently!

RELATED ARTICLES

Is ‘The Point’ Lake Normans Ulitmate Luxury Home Community?

Lake Norman Luxury Real Estate: The intimate private community of West View

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

A Lake Norman Sanctuary: A Lake Home with a Craftsman Feel

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The Real Estate Process, Home Buying and Selling Tips

How to sell your Lake Norman home in 18 days!

Real Estate Success

On May 5th, 2008 I listed a lovely two-story Colonial in a waterfront community on Lake Norman NC. The house next door as well as many others in the same subdivision had been on the market for well over a year.

Lake Norman home sold in 18 Days!

The ultimate buyer of my listing saw it on May 6th (thanks to the photos on the Internet) and intended to write an offer that day but they wanted to write a contingency in for a pool which my clients and I would not accept. On May 23, just a day after getting confirmation from the county that they could build a pool, they presented an offer. On May 25, the final details of the offer were accepted by all. We closed the sale successfully on June 30th.

So how did we do it during such a tough real estate market here in Lake Norman? There was no magic involved but rather a lot of hard work, a savvy seller and just a little bit of luck:

Planning and Preparation is critical!

  • I first met with my sellers in May of 2007 and walked the property giving them feedback on how to prepare for their sale and move.
  • Over the course of the next 11 months my sellers focused on the huge task of downsizing their belongings as well as having their home painted inside and out and other repairs and improvements.
  • About a month before they wanted to actually list the property they interviewed me and several other agents. Once I had the listing we concentrated on the final staging for the property including New granite counter-tops, re-arranging of furniture, adding staging touches to the interior and sprucing up the garden and porches with lots of flowers.
  • At the same time I hired a professional to do a floorplan and hired a photographer to do the photos and virtual tour.
  • I then designed the two-sided full-color flyers for the street (printed on glossy paper), and the Buyers Book which included about 20 pages of photos, the floorplan, survey, disclosures, information about schools and anything else I felt every buyer that came to view the property should have to take home with them.
  • Late in the day on May 5th, I uploaded the listing on to our MLS including multiple photos, virtual tour and interactive floorplan.
  • As soon as I had the MLS number I designed and created their own website: www.137Mussellane.com, and uploaded their Internet flyer to myriad websites including CraigsList, Trulia, Yahoo and Zillow. I also upgraded their Realtor.com listing with multiple photos, virtual tours, and all the bells and whistles included in being a “Showcase House”.
  • On May 6th the sign went up along with the brochure box with our full-color brochures including multiple interior photos. We had our first showings!

On the very first day this listing appeared on the MLS every single detail was complete. The property was staged and ready to show, all of the marketing was in place. When the potential buyers were notified of this new listing through the MLS systems they got to see multiple photos, virtual tours, floorplans not a blank box. When the first buyers arrived to view the home it looked great and they had Buyer’s Books waiting for them.

Approach the sales process with an aggressive attitude (both myself and my wonderful sellers!)

  • We priced the property where the market dictated NOT based upon hopes and what ifs.
  • My sellers did everything they could to prepare their home for sale while never insisting on rushing the process.
  • I staged the property with my own props and flowers.
  • I prepared the marketing blitz for the first day of the listing knowing that the best chance we had at a quick sale was in the first two weeks of the listing.
  • The quality of the marketing was excellent: I hired a team of professionals who provided me great photos, floorplans and virtual tours to work with.
  • My sellers helped me to define the special features of their home that I could focus on in the marketing.

Negotiate with realistic expectations and open-mindedness

  • While the first offer was low and had some unrealistic terms, my seller was committed from the outset to make a sale. (See a great article: Home Sellers Who Understand Market Prosper by Diane Hymer). Their willingness to be realistic and compromise was critical to the process and resulted in a very successful sale.

On June 30th, we successfully closed. It took a total of 52 days from the day it was listed to the day it closed in a market where their price range is very very slow. The house next door has just been re-listed with their 4th Realtor. It has been reduce almost 20% in price and is now vacant.

I just got the greatest gift a Realtor can get; a thank you card from my sellers. It said simply: “You Are Awesome…And by awesome, I mean totally awesome”. How cool was that?

But, you know what, my sellers were awesome too. Without their willingness to work so hard, to be open-minded and to be smart negotiators all of my guidance, preparation and marketing wouldn’t have made any difference. It truly was a team effort!

RELATED ARTICLES

An Open Letter to Lake Norman Sellers

Why is Listing a Property for Sale Like Giving a Dinner Party?

Lake Norman: How and Why to Stage a Vacant Home

Lake Norman Real Estate: Rocking Chair Front Porches

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate: Friday Hot Sheet

FRIDAY, JUNE 27, 2008 LAKE NORMAN RESIDENTIAL REAL ESTATE HOT SHEET
Hot Sheet6/27/086/10/085/12/084/12/083/10/08
New Listings142149189169174
Back- on Market5555464240
Price Changes248243212204154
Pending Sales5547493752
Sold4147454435
Conditional + Contingent1819181722

 

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!

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Lake Norman Real Estate: First-Time Home Buyers are Welcome!

Lake Norman area First-time-buyer communitiesIf you read my article about the schizophrenic nature of the towns along the east side of Lake Norman, then you will already know that the east side of the Interstate 77 is where you will find the original Main Streets and older homes. These areas have also experienced significant growth but because they were mostly farmland and are a fair distance to Lake Norman, the housing growth has focused on more moderately priced homes.

In Mooresville, three of the most popular subdivisions where prices are in the $100,000’s – $200,000s are Curtis Pond, Kistler Mill and Linwood Farms. All three of these housing developments are within the city limits of Mooresville so enjoy their excellent schools, and city services like water and sewer.

Curtis Pond in Mooresville Lake NormanCurtis Pond is a very popular, large subdivision offering new and resale homes from as low as $128,900 to their new basement homes at $279,900 with an average sale this past spring of $206,405. The homes range in size from about 1000 square feet to 3200 square feet. Most streets have sidewalks on one side making them perfect for walking and visiting with neighbors. Almost any time of day you will see children playing, neighbors chatting on their front porches or taking a walk to one of their two pools. (There was a bit of a fuss about which neighbors got to use the original pool but the second pool area is nearing completion. If you are considering a home in Curtis Pond make sure that you completely understand what rights you have to the pools!)

 

Mooresville Lake Norman homeRight across the street from Curtis Pond is Kistler Mill, which is their sister development. Smaller and completely built out, Kistler Mill (see picture on the left) offers homes from the $100,000’s to the low to mid $200,000s. They too have sidewalks and enjoy a neighborly environment.

Linwood Farms is a Ryland community located just out from Historic Downtown Mooresville. Smaller and a bit cozier in feel, there are homes currently for sale from $167,500 – $298,000 that range in size from 1200 square feet to about 3400 square feet. Like Curtis Pond and Kistler Mill, they offer mostly two-story homes. Community amenities include a pool, playground and club house.

These are just a few of our many subdivisions in this great price range!

Added 9/14/08: Harris Crossing is a brand new, smaller subdivision in the same area of Mooresville with homes starting in the high $180,000’s.

RELATED ARTICLES

Relocating to Lake Norman: What you should know before buying real estate Part 1

Relocating to Lake Norman: What you should know before buying real estate Part 2

Relocating to Lake Norman: What you should know before buying real estate: Part 3

Relocating to Lake Norman: What you should know before buying real estate: Part 4

Relocating to Lake Norman: What you should know before buying real estate Part 5

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Lake Norman waterfront homes

Lake Norman Real Estate: Is the Luxury Home Market Coming Back to Life?

Lake Norman waterfront estateTwo 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.

RELATED ARTICLES

Is ‘The Point’ Lake Normans Ulitmate Luxury Home Community?

Lake Norman Luxury Real Estate Market: The intimate private community of West View

A Lake Norman Sanctuary: A Lake Home with a Craftsman Feel

Lake Normans Cornelius: From small village to posh suburb

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lake norman real estate, Lake Norman waterfront homes

Is “The Point” Lake Norman and Mooresville NC’s Ultimate Luxury Community?

 

Lake Norman's Luxury Waterfront and Golf Community The PointPicture 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!

Waterfront Estate at The Point Lake Norman

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!

Lake Norman Waterfront Estate in The Point 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.

RELATED ARTICLES

The Harbour at The Pointe; A Popular Lake Norman Subdivision

A Lake Norman Sanctuary: A Lake Home with a Craftsman Feel

Lake Normans Cornelius: From small village to posh suburb

Lake Norman Relocation Resources

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Lake Norman News, Events and Celebrations

Mooresville’s Brawley School Road Widening and Development Update

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

Mooreville’s Brawley School Road Widening Has Begun!

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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Lake Norman Real Estate: Significant Change in Square Footage Information Beginning March 27, 2008

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:

Stop, Dual Agency! Proceed with Caution!

Lake Norman Buyers: What you should know about Agent Bonuses

What you need to know about buying real estate in North Carolina

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lake norman real estate

Lake Norman Real Estate: The Farms; a Cresecent Community with a more casual and natural feel

The Farms community in Mooresville

 

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

 

Crescent Communities are known for their incredible amenities and recreation and The Farms is no exception! The Homestead Activity Center , with architecture reminiscent of old barns, boasts:

  • 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
  • Playground
  • 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!

 

RELATED ARTICLES

The Harbour at The Pointe; A Popular Lake Norman Subdivision

Lake Norman’s waterfront communites: North Shore and Pine Isle

Lake Norman Luxury Homes Market Report

Relocating to Mooresville NC

Lake Norman Relocation Resources

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Lake Norman waterfront homes

Lake Norman Waterfront Communties: Pine Isle and North Shore

Tucked away on beautiful wooded lots along the Lake Norman shoreline are two side-by-side subdivisions that are truly separate but equal is most every way. Pine Isle and North Shore were the first Crescent Homes developments on the Brawley School Peninsula in Mooresville. The Point came shortly after these two smaller, serene waterfront communities.

In 1991, Crescent sold M.I. Homesthe Pine Isle land and Developer/Builder Robert Ingrim the North Shore land. Although they started out as separate subdivisions and still are in that they have different Home Owners Associations and amenities, I honestly think that they blend together so perfectly that they feel like they are one.

Located towards the end of Isle of Pines Rd in Mooresville, most of the lots are heavily wooded and truly offer a retreat feel. The homes range in size from about 2000 sq. ft. to over 5000 sq. ft. While mostly two story homes, there are one story ranches scattered throughout both subdivisions.

They both have Community Club Houses, pools, recreation areas and, most importantly, BOAT SLIPS. The original buyers of the lots/homes had the option, for $4000, to have a deeded boat slip. Most of them opted to buy one even though it was’t thought of as necessary.

 Today, because of a shortage of boatslips on Lake Norman, it makes a huge difference if a home in North Shore or Pine Isle has a boat slip. Who knew?

In the past year 10 homes sold in Pine Isle and North Shore. Prices ranged from $330,000 to $1,150,000. If you take out the waterfront homes the average sales price for the past year was $391,780. This is partially a function our our current real estate market as there are some lovely $400,000+ homes for sale but that price range happens to have a glut of active listings in the greater Lake Norman area.

One detail to note: Robert Ingrim used Synthetic Stucco (North Shore) and M.I. used Hard-coat Stucco (Pine Isle). Many of the synthetic homes have been refaced with brick or siding but it is important to know this if you are thinking of buying. (See my article about Stucco).

RELATED ARTICLES

The Harbour at The Pointe; A Popular Lake Norman Subdivision

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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Lake Norman waterfront homes

Lake Norman Waterfront Homes Have Water Again!

Lake Norman waterfront home views

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!

ARTICLES

The Harbour at The Pointe; A Popular Lake Norman Subdivision

A Lake Norman Sanctuary: A Lake Home with a Craftsman Feel

Lake Norman’s Cornelius: From small village to posh suburb

Relocating to Mooresville NC

Lake Norman Relocation Resources

 

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lake norman real estate, Lake Norman waterfront homes

The Harbour at the Pointe; A Popular Lake Norman Subdivision

Now that I have given you all an overview of life and real estate in the greater Lake Norman area, it is time to start focusing on individual subdivisions, of which there are many!

I chose to write about The Harbour at the Pointe first because it is one of my favorites. Located in Mooresville on the eastern shoreline of Lake Norman , The Harbour subdivision broke ground in 1992 and offers homes from about 2400 square feet to over 5000 square feet. The lots range from heavily wooded to lovely manicured gardens; some with waterviews and of course, some waterfront homes as well.

So makes The Harbour special ?

  • Beautifully landscaped common areas full of Crepe Myrtles, lush green grass, towering pine trees and colorful annuals.
  • One of the few subdivisions out on the lake, other than its neighbor, The Point , that has curbs, some sidewalks and a true sense of neighborhoods for those looking for a more neighborly feel rather than a Lake Norman retreat
  • Almost all homes come with deeded boatslips which is extremely valuable as boatslips are limited on Lake Norman
  • Marina area with day docks, deededboatslips and a boat ramp
  • Community Club House
  • Junior Olympic sized pool
  • Tennis Courts
  • Soccer field
  • Playground
  • Basketball court
  • Volleyball
  • Community well
  • Maintenance checks on septic systems is part of HOA dues
  • Actually, while this is a wonderful list of amenities, what truly makes The Harbour special is its sense of community. From Easter and Halloween events for the children to planned activities like Ladies’ Night, Barbecues, Tennis and Golf Tournaments, and even neighborhood beautification and community service projects there are many activities for all ages.

We kept our boat there our first year here and we found everyone to be very friendly. During the summer the pool was buzzing with activity yet the trails through the tall pines to many of the docks is completely tranquil.

Current Real Estate Summary:

  • There are currently 27 homes in The Harbour listed for sale in the MLS ranging in price from $412,900 to $2,845,000
  • In the past year 23 homes in The Harbour sold from $354,825 to $1,410,000.
  • The average days a home is on the market at The Harbour was 95 which is significantly shorter than the greater Lake Norman area
  • They have about 13 months of supply of homes for sale which is about 40% less than the greater Lake Norman area…this is very good!
  • The average sales price was $187 per square foot (This includes waterfront homes)

Beautiful homes and gardens, wonderful amenities, located on the shoreline of Lake Norman, close to Mooresville shopping; The Harbour at The Pointe might be the perfect home for you!

RELATED ARTICLES

A Lake Norman Sanctuary: A Lake Home with a Craftsman Feel

Lake Norman’s Cornelius: From small village to posh suburb

Relocating to Mooresville NC

Lake Norman Relocation Resources

Relocating to Lake Norman

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Lake Norman Real Estate Market Reports

Mooresville NC Housing Market Report

Yesterday I wrote a summary real estate market analysis for the entire Lake Norman area ( MLS areas 13/1-5).

It is important to understand that the MLS divides Lake Norman towns like Mooresville in to two parts; the area closest to the lake itself and the area far enough away to not be considered Lake Norman neighborhoods. In Mooresville, the area west of the I-77 along Lake Norman is included in the Lake Norman area 13/2. However, the section east of the I-77 which is the actual town limits of Mooresville has a different MLS area number 12/6 and is part of South Iredell County.

I decided to search our 2008 real estate housing data first for the entire area with a Mooresville address:

 

Mooresville Housing Market Report 1/1/08 – 2/29/08
2008Average$DOM2007%Average$%DOM
Active Listings975$590,640125
Contingent14$306,480173
Conditional22$319,925129
Pending84$375,933116
Sold96$341,70911918949%$367,6343.7%97
Months of Supply20.3

 

The most important figures to note:

  • The total months of supply of active listings is 20.3 compared to the entire Lake Norman area of 21.8.
  • Mooresville has seen a drop in home sales of 49% compared to the same period in 2007
  • Mooresville has seen a drop in the average listing price of 3.7% versus the same period in 2007
  • The average days on the market for a listing has increased by 22.6%

Summary: The entire area of Mooresville has about the same amount of months of housing inventory as the whole Lake Norman area, has suffered an even greater drop in the number of homes sold but the average sales price has dropped only about half as much as the entire Lake Norman area home sales.

It happens that the Lake Norman area of Mooresville falls into one zipcode: 28117 and the actual town limits of Mooreville has its own zipcode: 28115. Here is how the sales look when separated from each other:

Mooresville Market Report: Zipcode 28117
2008Average$DOM2007%Average$%DOM%
Active Listings641$728,619140
Contingent4$338,850109
Conditional11$449,627113
Pending43$464,217131
Sold40$556,2821559257%$540,8853%12524%
Months of Supply32


2008Average$DOM 2007%Average$%DOM%Active Listings333$322,16499       Contingent8$298,302218       Conditonal13$198,259141       Pending37$278,41895       Sold56$188,44293 9742%$203,3137%7033%           Months of Supply11.9         

The most important figures to note:

  • The total months of supply of active listings on the Lake Norman side of Mooresville 28117 is almost triple that of 28115.
  • 28117 area has seen a decline in number of homesales of 57% versus a 42% decline in 28115
  • The average days on market for 28117 is 155 versus 93 days in 28115
  • The average sales price of a home in 28117 was $556,282 versus $188,442 in 28115

Summary:

It is clear that homes in the west side of Mooresville, zipcode 28117 which are along the shores of Lake Norman, have an average listing price of over twice that of the 28115 area. While both zipcodes suffered declines in the number of sales and average sales price, the time it takes to sell a home in 28115 is 40% faster than the higher-priced Lake Norman homes and their number of homes on the market for sale in 28115 is one third of the that in 28117. All of this supports my quarterly sales analysis which consistently shows stronger activity in homes listed up to $300,000, quicker sales and less competition.

RELATED ARTICLES

Learn More About Life in Lake Norman:

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

60 Things You Should Know About Life in Lake Norman, Part 1

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lake norman real estate, LKN Realty LLC, Relocating? Life in Lake Norman

Why a Lake Norman Real Estate Blogsite and how to use it!

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:

  1. 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).
  2. Relocating to Lake Norman
  3. Life in Lake Norman
  4. Local news that my readers might find particularly interesting
  5. 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

Property Searches:

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!


Home: 

This will always bring you back to the home page when you click on it

 

Diane Aurit:

Here is where you learn about me including my experience, education and client testimonials

 

Contact :  Email or call me anytime!  diane@dianeaurit.com

 

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!

 

 

 

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lake norman real estate

Does Lake Norman NC have affordable housing?

Would you be surprised if I told you that there are 43 single family homes for sale in the towns surrounding Lake Norman that are listed UNDER $100,000? What you don’t see on most real estate websites about Lake Norman is any information about the modest older homes that are dotted about our more rural areas and clustered around our downtowns.

All of the communties of Mooresville, Davidson, Cornelius, Huntersville and Troutman on the east side of Lake Norman truly have two distinct cultures that stem from their historic roots as railroad stopping points for our cotton farmers and the spectacular housing and retail growth along the lake in the past two decades.

The real estate developments on the west side of these Lake Norman towns that include all of the lake shore homes and much of the recent retail growth came about upon the completion of the I-77 in 1975.

However, east of I-77, are the roads that parallels the railroad tracks that run from Charlotte north to Statesville and beyond. It is around this old Main Street that most of our older homes can be found.

Our historic downtowns were all built along or in close proximity to Main Street in the late 1800’s and early 1900’s. At the same time several large cotton mills were established, the most significant and long standing being the Burlington Mill in Mooresville that closed in 1998 and the Cannon Mill farther southeast in Kannapolis. The mill owners built self-sufficient villages or what we refer to as “mill houses” for their textile workers.

From 1902 – 1930 over 400 homes were built for the influx of cotton workers in Mooresville. A variety of floor plans were built; 3 bedroom T-shaped houses with front and back porches were most common.

Today, the modest historic homes and mill houses clustered around Main Street are just beginning to be appreciated by home buyers. And that means they are still affordable! Of the 18 active real estate listings under $100,000 that are not mobile homes, 14 are mill houses located in the Historic Mooresville Mill Village. They range in size from 640 sq. ft. to just over 1200 sq. ft.; were built between 1911 to 1970 and range in price from $65,000 – $99,900.

Throughout the South there is a textile heritage movement as well as a growing appreciation for historic homes and preservation.

The residents of homes in the Mooresville Mill Village have organized their efforts to renovate and restore these special pieces of living history by creating the Mooresville Mill Village Historic District. On their website you can learn more about the history, as well as their current restoration efforts.

Once the urban village development Mooresville Mills, which will be built on the site of the old Burlington Mill, is completed the real estate values in the entire mill area will be exciting to watch

LEARN MORE ABOUT HISTORIC MOORESVILLE

27 Reasons to Visit Historic Downtown Mooresville Part 1

27 Reasons to Visit Historic Downtown Mooresville Part 2

27 Reasons to Visit Historic Downtown Mooresville Part 3

Fresh Sushi, Hush Puppies, The Scoop About Relocating to Mooresville

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

Learn all about Lake Norman from THE expert: Gus Gustafson!

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!

Here are just of few of Gus’s credentials:

  • 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

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!

RELATED ARTICLES

  Are You Ready to Navigate the Waters of Lake Norman

Lake Norman Relocation Resources

Relocating to Lake Norman

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Charlotte #4 Best Cities for Bargain House-Hunters According to Forbes!

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!

RELATED ARTICLES

Lake Norman Relocation Resources

Relocating to Lake Norman

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