Lake Norman Real Estate's August 2018 Desktop Calendar

Download this month’s Lake Norman calendar here

Continue reading

Lake Norman photos

Lake Norman Real Estate’s August 2018 Calendar

Image
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2018 Market Report

We are now in our most active months for our Lake Norman area’s housing sales. After a dip in January, a jump up in February and a drop in March, our April Lake Norman real estate market followed this roller coaster pattern by posting a 5% gain over April 2017’s sales. And, we posted a 19.2% increase over last month’s home sales. So will this pattern continue?  Hopefully this month’s market report will provide us some insight as to what lies ahead.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

  • April’s closed home sales were the highest April since 2005 even beating out last year’s 154. And, they are 19.2% higher than last month as well.
  • Our inventory of active listings remains alarmingly low and is not increasing as it should at this time of year; currently 11% below last year’s which were also historically low.  It is hard to quantify but there is no doubt that low inventory does have a negative impact on Lake Norman’s home sales.
  • We may continue to experience an up one month and down the next for at least the short term given our lower Pending numbers.
  • With 7 sales over $2 million we just might be experiencing a true return of our luxury housing market!

Let’s take a closer look:

Lake Norman April 2018 Home Sales Analysis

All data is from the Carolina Multiple Listing Service.

Continue reading

Standard

Lake Norman Waterfront Photo calendar

Download this month’s Lake Norman calendar here

It is days like this one above when I am reminded just how lucky I am to be a Realtor here in Lake Norman.  Imagine being able to enjoy views like this one while working!  I took this photo from a very special property being purchased by one of my very special buyers. The trees are turning green and the beautiful azaleas like this one are starting to bloom which make the Lake Norman shoreline so colorful at this time of year.  Every season at Lake Norman has its own character and beauty but this is by far my favorite!

Continue reading

Lake Norman photos

Lake Norman Real Estate’s May 2018 Calendar

Image

Lake Norman Real Estate's April 2018 Desktop Calendar

Download this month’s Lake Norman calendar here Continue reading

Lake Norman photos

Lake Norman Real Estate’s April 2018 Calendar is Blooming!

Image
Lake Norman News, Events and Celebrations

Lake Norman Area St. Patrick’s Day Parades Festivals and Celebrations 2018

Lake Norman St. Patrick's Day Celebrations

It turns out that this year this Saturday the 10th is a big day for St. Patrick’s Day celebrations!

Start your St. Patrick’s Day celebrating this Saturday at the 6th annual St. Patrick’s Day parade in Downtown MooresvilleThe March 10 event begins at 3 p.m. and will roll down Main Street from Town Hall to Center Avenue. The parade will feature Grand Marshal Margaret Shannon, a leader within the Irish community in the New York/New Jersey area and, for the past 27 years in the Carolinas.  The parade will also include the Connick School of Irish Dance, Ceol na Gael pipers band led by Frank Keenan, the West Iredell 4-H Club, Acrofitness, the Knight of Columbus, and several pageant queens, including the 2016 Miss Iredell County Agricultural Fair Queen Kristy Leigh Smith, and Miss Teen North Carolina Earth Arianna Alverez. Food vendors will be on hand and area businesses will be offering special goodies for sale to those visiting downtown for the festivities. Some of those include Cyn Tucci’s Bakery, which will have St. Patrick’s Day cookies; Tim’s Table, selling scones; and The Pushcart, offering hot dogs.   Several parade participants, the Connick School of Irish Dance and the Ceol na Gael pipers band, will circle back to the Wells Fargo Bank area, where they will perform for the public. Main Street from Moore Avenue to Center Avenue will remain closed until 4:30 p.m. for those performances.  Parade organizer Esther Murphy said she is eager for people to “experience the Irish culture, enjoy the dancers and the pipers and make some new friends.”

For the 21+ crowd one event always stands out: Galway Hooker’s 16th Annual St. Patrick’s Day Festival. “You can’t get a bigger, better Irish experience anywhere unless you were in Ireland itself! Our Pub was originally located in Ireland, deconstructed and shipped on a huge cargo ship over to the location it sits at now and reconstructed right here in Lake Norman. Step inside and you’ll feel like you just stepped into an authentic Irish Pub, because you did! Get ready for the areas LARGEST block party – our 15th annual St. Patrick’s Day Party! You don’t want to miss this legendary experience: Irish dancers, bagpipers, games, contests, authentic Irish fare, beer-a-plenty, live music and DJ’s throughout the day! There is no where else to be this St. Pat’s but the Hooker!”

But, while Galway Hooker’s may be the largest, there are so many other ways to celebrate, some of which don’t even involve drinking!

Probably the best way to actually celebrate ON Lake Norman would be Queen’s Landing’s St. Patrick’s Day Cruises on Lake Norman.

Or, for a more historic way to celebrate check out the Latta Celtic Festival.   The Latta Celtic Festival runs March 17th & 18th (10am-4pm)  This is it, the event you’ve been waiting all year for, it’s back… The Latta Celtic Festival. For the last six years spectators from near and far have made their way to Historic Latta Plantation in celebration of the Celtic culture James Latta once hailed from. Just in time for St. Patrick’s Day, you can celebrate all things Celtic by enjoying live music, food and beer vendors, arts and crafts vendors, historic Celtic warriors and heritage demonstrations. Children will enjoy story times, dancing, visiting the farm animals and more. This year our Celtic Festival will feature a special Sunday performance by Master Fiddler Jaime Laval.

Looking for celebrations actually on March 17th?

Continue reading

Standard

Lake Norman Aerial photo calendar

Download this month’s Lake Norman calendar here

How cool is this photo?  Simple breathtaking! I recently discovered Legacy Biplane Rides  when I happened upon one of their aerial photos of Lake Norman. So, I reached out to the owner, Brian Rosenstein <brian@legacybiplane.com> and he generously shared this amazing photo with me for my Lake Norman Real Estate’s August calendar.  I can’t describe his services better than he does on their website:

Continue reading

Lake Norman photos

Lake Norman Real Estate’s August 2017 Calendar!

Image

Lake Norman Calendar July 2017

Download this month’s Lake Norman calendar here

Yep, there is nothing like hanging out on a pontoon boat on a beautiful summer’s day on Lake Norman! If you are stuck at your computer or only dreaming about living here, I hope this photo will serve as a pick-me-up for the next 31 days.  Daydreaming is encouraged!

Continue reading

Lake Norman photos

Lake Norman Real Estate’s July 2017 Calendar is Here!

Image

 

Lake Norman Real Estates's January calendar is sunset on boatsDownload this month’s Lake Norman calendar here

Continue reading

Lake Norman photos

Lake Norman Real Estate’s January 2016 Calendar is Here!

Image
Lake Norman Real Estate Market Reports

Lake Norman’s 2014 Year-End Home Sales Were Up 7.9%!

2014 turned out to be a very positive year for our Lake Norman real estate market.  A 7.9% increase in the number of single family home sales over 2013 is a stronger showing than the national home sales. But what is really impressive is the fact that we actually exceeded all prior years back to and including 2007!

Here are some interesting charts that break down the data for you:

Single Family Home Sales by Year 2005 – 2014

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2014 Sales Analysis: A Bang or a Whimper?

A bang.  A BIG bang. After a significant slowdown in November, our Lake Norman real estate market ended 2014 with an explanation point by posting a 20% increase in sales over December 2013 and 25% higher than last month’s. With 120 closed sales, December 2014 didn’t just cream last year’s but all prior Decembers’ since 2006 and might even meet that month’s sales once our few stragglers are posted to our MLS in the next few days. Unfortunately, this trend probably won’t continue into January 2015.  Let’s take a closer look:

Lake Norman Market Report December 2014

Lake Norman home sales December 2014

Continue reading

Standard

Lake Norman Real Estate's Desktop Calendar  January 2015

Download this month’s Lake Norman calendar here

One quick look and you might think this amazing mountain is in the Blue Ridge Mountains but it isn’t. Pilot Mountain, which is considered one of the most distinctive natural features in North Carolina, is actually part of an ancient chain of Sauratown Mountains and is located northeast of Lake Norman in our beautiful Yadkin Valley known for its over 50 wineries including two in the town of Pilot Mountain population 1477!   Pilot Mountain is part of the Pilot Mountain State Park where visitors can take a paved road to the visitor center and campgrounds or go further up to a parking lot on the ridge.  Trails from there take you to the main Little Pinnacle Overlook and other viewing spots. Continue reading

Lake Norman photos

Lake Norman Real Estate’s January 2015 Calendar is Here!

Image
Lake Norman News, Events and Celebrations

Lake Norman Halloween Happenings 2013

* For 2015 Halloween Events go to: Lake Norman Halloween Happenings and Events 2015; BOO!

Lake Norman is a great place to celebrate Halloween. From haunted houses to old-fashioned Main Street celebrations to costume parties and live entertainment at local night clubs there truly is something for everyone!

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

If you are in search of a pumpkin patch:

  • Carrigan Farms: Hayrides to the pumpkin patch 9-4 Saturday and 12-4 Sundays through Halloween. Pick a pumpkin, visit the animals and have some fresh apple cider.
  • Patterson Farm: Pumpkin patch is open with tours through Nov. 6th and on weekends don’t miss Paw Paw Carl’s Playground where you can enjoy hayrides, a corn pit, Tomato Slingshot, Duck Races and more! See their website link above for more details.
  • Davidson United Methodist Church’s Pumpkin Patch offers pumpkins for sale through Halloween on the lawn of the  Molly McKay House, 260 S. Main Street, Davidson

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

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

  • This year, Carrigan Farms’ Scarrigan Farms is supposed to be so scary that moms enjoying smores on the other side of the quarry can hear their kids screaming as they walk throw the haunted trail. As they say on their website: This is not a trail for kids. If you’re under 12 come back when you’re old enough. We’ll be waiting. If someone hasn’t peed in their pants by the end of the night we know haven’t done our job. Come gather around the bonfires, at the well-known Carrigan Farms Rock Quarry, before or after you enter the haunted trail. Visit Scrarrigan Farms on Facebook.  It began October 5th and continues Friday to Sunday nights through November 2nd and includes Thursday, October 31st of course!  (Today their website was down but hopefully it will be up shortly.)

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2013 Sales Analysis has some Mixed Signals!

Change seems to be in the air in our Lake Norman real estate market. Lake Norman’s closed home sales have maintained historically strong numbers (post the recession) each month in 2013 but they are continuing their softening trend since our record setting high in May. While we still logged in some solid closed home sales numbers in September, we actually appear to be struggling right now to keep our sales up for the rest of this fall/winter above  last year’s.   At 104 single-family home sales in September we logged in the best September since 2007 and we may even equal 2007 once the late comers input their sales into the MLS but will we sustain this trend?

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the September 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's September 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories. Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) comprised 15.4% of Lake Norman’s total home sales which is up from 9.4 last month,  11.3%  in July, 6.9% in June, 10.6% in May , the 14% in April but down from 20.4% in March, 16.9% in February and January’s 29%. We only had 16 distressed home sales in September. The average price for distressed single family home sales jumped back up to $348,168 from last month’s low of $252,526. Distressed active listings comprise only 3.2% of our total inventory of Lake Norman homes  sale! According to a recent article on Realtor.org in the US  foreclosures and short sales represented 12% of August sales.
  • 34.6 % of our closed sales were waterfront homes which is equal to the last few months. The average sales price of Lake Norman waterfront homes in September was $738,972 which is up slightly from last month;s $709,753 but well below July’s $874,988 June’s $990,693 and May’s $778,045. The average price per square foot was $211.11 dropping for the second month in a row after peaking at $229. This can be directly attributed to having only 6 waterfront home sales over $1 million for the second month in a row compared to 13 sales of waterfront homes over $1 million in both June and July.
  • 8 new construction homes sold in September which was 3 less than last month’s. The average listing price vs sales price of new construction single family homes was 101%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 50 new construction homes under contract. The average sales price was up to $406,596 compared to last month’s  $373,183. It is important to note that many of the new construction homes you will see driving around the lake are custom homes so will not be included in our Multiple Listing Service numbers.
  • 55% of Lake Norman’s September home sales were under $400,000 up from 50% last month.
  • 66.3% of our August home sales were under $500,000 which is about equal to last month but significantly lower than last winter’s in February’s 81.7%, 81% in January, 74 % in December, 75% in November. After seeing an upswing in both the trade-up price ranges and our Lake Norman luxury homes earlier in the summer, we have seen several months of weaker sales in our trade-up and luxury housing markets.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 118 was the fifth month in a row of decline after April’s record high of 319 . At 207, we have fewer homes under contract than any other month in 2013 but January.  It is not only clear that our Lake Norman housing market has definitely slowed down but now we appear to be struggling to keep pace with 2012.

A closer look at the chart: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2013 Hot Sheet is Here!

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.

Lake Norman’s 2013 real estate sales have been breaking records since January 1st. That said, it appears more likely at each passing month that our number of monthly home sales peaked in May and are now trending downward slightly each month. The numbers below further substantiate this although there is a slight uptick in new contracts. We currently have 217 single family homes under contract in all of Lake Norman which is a pretty significant drop from last month’s Hot Sheet number of 253, July’s 260, June’s 301 and May’s high of 330 but they are just about equal to our end of August number of 218.  Are our sales leveling out rather than trending downward? Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

9/20/2013

Lake Norman Real Estate's September 2013 Hot Sheet Chart

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

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2013 Home Sales Analysis

Lake Norman homes sales remain historically strong (post the recession) but continue their softening trend after our record setting high in May. That said, we still logged in some solid number in August. At 128 single-family home sales we had the 4th best month in the Lake Norman real estate market since August 2007 . Once the late comers input their sales into the MLS my guess is that we will have closed 132 contracts last month.

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the August 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate's August 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories. Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) comprised 9.4% of Lake Norman’s total home sales which is down from 11.3% last month, up from 6.9% in June but below May’s 10.6% , the 14% in April, 20.4% in March, 16.9% in February and January’s 29%. We only had 12 distressed home sales in August. The average price for distressed single family home sales was $252,526 so clearly the very lowest of Lake Norman’s price ranges. Distressed active listings comprise only 3.9% of our total inventory of Lake Norman homes for sale! According to a recent article on Trulia the “normal” delinquency and foreclosure rate for the US is 5.25%.
  • 31 % of our closed sales were waterfront homes which is equal to last month’s. The average sales price of Lake Norman waterfront homes in August was $709,753 which is down from last month’s $874,988  June’s $990,693 and May’s $778,045. The average price per square foot was $214.5 which was down significantly from last month’s $229 and all prior months this year after February. This can be directly attributed to having only 6 waterfront home sales over $1 million compared to 13 sales of waterfront homes over $1 million in both June and July.
  • 11 new construction homes sold which was 3 less than last month’s. The average listing price vs sales price of new construction single family homes was 101%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. The average sales price was $373,183. It is important to note that many of the new construction homes you will see driving around the lake are custom homes so will not be included in our Multiple Listing Service numbers.
  • 50% of Lake Norman’s August home sales were under $400,000.
  • 67.2% of our August home sales were under $500,000 which is up from the past few months but significantly lower than February’s 81.7%, 81% in January, 74 % in December, 75% in November. After seeing an upswing in both the trade-up price ranges and our Lake Norman luxury homes, August seemed to return to our my typical post recession norms.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 118 was the fourth month in a row of decline after April’s record high of 319 . Looking at this number compared to the past two years (see below), it is clear that our Lake Norman housing market has definitely slowed down. There is no doubt now that our home sales in Lake Norman this year did peak in May but seem to be maintaining a slight edge on the same period in 2012.

A closer look at the chart: Continue reading

Standard
Lake Norman photos

Lake Norman Real Estate’s September 2013 Wallpaper Calendar is Here!

Lake Norman Real Estate's September 2013 Calendar

Lake Norman sunsets are as unique as snowflakes. While no two are identical, they are almost all stunning!  Sometimes it seems as if the horizon is on fire. Other times, like when I took the photo above from one of my waterfront listings, they are soft pink and lavender hues.  As you can see, on a slightly windy evening the water will even get small white caps while on a calm evening the water truly becomes a stunningly clear mirror of the shoreline.

To make your desktop calendar, go to the round button at the top of this site’s home page entitled: “Lake Norman Calendar”. Click on this button and up will come this image of my Lake Norman photo wallpaper calender for September 2013. All you have to do is right click and select “set as background”. This is a copyrighted photo so please understand that I can not send you a copy of this photo without the calendar. Thank you! Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2013 Hot Sheet is here!

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.

Lake Norman’s 2013 real estate sales have been breaking records since January 1st. That said, it appears more likely at each passing month that our number of monthly home sales may have peaked in May and are now trending down slightly each month. The numbers below further substantiate this. We currently have 253 single family homes under contract in all of Lake Norman which is a drop from last month’s 260, June’s 301 and May’s high of 330 but is still the 6th highest number since I have been keeping these records. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

8/21/2013

Lake Norman Real Estate's August 2013 Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13). These numbers represent a real time snapshot of the past two week’s activity. (August 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2013 Sales Analysis

Lake Norman homes sales in July were oh so close to matching July 2007’s but still were the best July since 2007 .  While our closed sales of 142 fell short of last month’s and our record setting high in May, we still logged in some very impressive numbers. At 142 single-family home sales we had the 3rd best month in the Lake Norman real estate market since July 2007 . Once the late comers input their sales into the MLS my guess is that we will have closed 145 contracts last month.

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the July 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's July 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories. Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you: Continue reading

Standard
Lake Norman photos

Lake Norman Real Estate’s August 2013 Calendar is Here!

Lake Norman Real Estate's August 2013 Calendar

Life in the Lake Norman NC area offers myriad experiences and adventures both on and off the water.  While you may never want to leave the beauty of Lake Norman and all of the boating and recreational activities it offers, you don’t have to travel far to find gently rolling farmland and country scenes like the one in this month’s calendar photo.  I happen to love sunflowers and barn quilts are great fun to discover so this photo is particularly appealing to me.  Whether it is a sea of sunflowers on the roadsides of the Tour de France or right here in NC, these cheerful flowers epitomize the joys of summer.

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, who spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos. And, of course, he also takes some amazing photos of Lake Norman like this one. If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2013! Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 2nd Quarter 2013 Sales Analysis by Price Range

If you are a home buyer or seller in the Lake Norman it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $400,000 price range, you are going to have an entirely different experience than someone in the $500,000s. This is exactly the reason why I create a price-range analysis every quarter:

Lake Norman Real Estate's 2nd quarter 2013 Sales Analysis by price range

*Compiled from the Charlotte Regional Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

** Compare this to Lake Norman real estate’s 2012 2nd quarter sales analysis by price range

How to read this report: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2013 Sales Analysis: Best June since 2007!

While Lake Norman’s June home sales weren’t quite as stellar as May’s, we still logged in some very impressive numbers.  At 150 single-family home sales we had the 2nd best month in the Lake Norman real estate market since July 2007.   Once the late comers input their sales into the MLS my guess is that we will have closed about 151 contracts last month.  (Note, I revised this sales analysis on July 15th to reflect increased sales logged in to the MLS from 144 to 150).

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the June 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's June 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories. Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you: Continue reading

Standard
Historic Downtown Mooresville, Lake Norman photos

Lake Norman Real Estate’s July 2013 Wallpaper Calendar is Here!

 

 

Lake Norman Real Estate's July 2013 Wallpaper Calender

I have written a lot about life in Lake Norman and how we have two very different types of communities within the same towns.  This is particularly true in the town of Mooresville where you will find Donald Trump’s Trump National Golf Club and the largest number of waterfront homes and estates on all of Lake Norman. However, if you travel east of Interstate 77 you will discover the original, historic town of Mooresville which was developed along the railroad in the 1800’s for its earliest residents, cotton farmers.  Since I moved here in 2005 Historic Downtown Mooresville has gone from a sleepy town to a true destination with great restaurants, shops, art galleries, entertainment and a number of festivals and community events.  The photo above is taken at the recently upgraded John Franklin Moore Park which is adjacent to the railroad tracks.  Last July the Exchange Club created this wonderful display of American flags for the 4th of July.  In the background is the original train depot which is now home to the Mooresville Artist Guild as well as some other historic buildings on Main and Broad Streets.

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, who spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos. And, of course, he also takes some amazing photos of Lake Norman like this one. If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2013! Continue reading

Standard
Lake Norman News, Events and Celebrations

Lake Norman’s 4th of July 2013 Fireworks and Celebrations!

Lake Norman 4th of July 2013

For 2016 Fireworks and Celebrations please go to: Lake Norman’s 4th of July Fireworks and Celebrations 2016!

 From nostalgic patriotic parades to community festivals with firework displays to myriad planned and spontaneous raft- up (boat) parties on Lake Norman, there truly is something for everyone here in the greater Lake Norman area this 4th of July. Get out of your home, save gas and have a great time!” I wrote this FIVE years ago and it is still just as true this year. So, here is the run down on Lake Norman’s 4th of July festivities 2013:

Saturday, June 29th at 11:00am the 9th Annual Troutman Independence Celebration Parade will be held on a 3-mile route from the Iredell County Fair Grounds ending at the Troutman Elementary School. (Highway 21).If you want to experience a slice of true, old-fashion, small-town Americana, this is a must attend parade. The streets are lined with flags, yellow ribbons and folks of all ages, many with signs honoring our military past and present. The parade itself has about 100 entries including floats with United States Veterans from all of our wars, military units, WWII Vehicles, local clubs and civic organizations, beauty queens and just about any thing you can imagine including at least one John Deere Tractor! This year The Military Order of the Purple Heart/Wounded Warriors veterans will serve as the Grand Marshals. What a great way to honor those who have given so much for our country! Again this year the parade is followed from 5:30-9:30 pm by the Troutman Independence Day Festival at the fairgrounds and ending with a breathtaking fireworks display at 9:30!

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2013 Hot Sheet

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.

Lake Norman’s 2013 real estate sales have been breaking records since January 1st with last month’s sales being the tenth highest sales month in Lake Norman’s history. But, can we sustain these very high sales numbers into summer?  From the numbers below, it looks like we will. We currently have 301 single family homes under contract in all of Lake Norman which is a drop from last month’s high of 330 but is still the second highest number since I have been keeping these records. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

6/21/2013

Lake Norman Real Estate's June 2013 Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13). These numbers represent a real time snapshot of the past two week’s activity. (June 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
lake norman real estate, Lake Norman Real Estate Market Reports

Which months are Lake Norman real estate’s strongest?

Lake Norman real estate photo of 130 lochfoot grape trellis view

One of the most common questions asked  by both home buyers and sellers is which months of the year are the strongest in our Lake Norman’s housing market?  When I read a recent article about a study by Trulia that placed North Carolina and South Carolina’s strongest months for home searches in July, I was a bit surprised so decided to see for myself if this is also true for Lake Norman.

Here is my chart with Lake Norman home sales by month since 2005.  Taking a closer look it is clear that our Lake Norman real estate market isn’t consistently the strongest in the same month every year.  Over all, Lake Norman’s real estate market picks up after the first of the year and generally slows down at the end of the year but beyond this generalization, there are some interesting inconsistencies:

Lake Norman Real Estate's Annual Sales Chart by Month May 2013

2005:

  • August was the best month followed by July, June, September and October

2006:

  • June was the best month followed by May, August, July and March

2007:

  • June was the best month followed by May, July, March and August

2008:

  • July was the best month followed by May, April, June and September

2009:

  • July was the best month followed by June, September, October and December

201o:

  • June was the best month followed by May, April, December and November/July (This was the year of the rebates hence the April/June numbers)

2011:

  • August was the best month followed by June, October, July and April

2012:

  • August was the best month followed by May, June, July and November

2013:

  • So far this year every month since January Lake Norman has had more home sales than the prior month

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2013 Sales Analysis: 2nd Best May in Lake Norman; EVER!

What words best describe Lake Norman’s May real estate sales?  Amazing, shocking, jaw-dropping, astounding, unprecedented, awesome; chose any or all of these.  I am almost speechless (which never happens).  While the dynamics of our Lake Norman real estate market have been impressive all year and even with such high numbers of properties under contract I don’t think anyone expected May to be the second best May in the history of Lake Norman home sales and the 10th highest month for home sales ever. Wow.  Once the late comers input their sales into the MLS my guess is that we will have closed about 165 contracts last month. (NOTE, I updated these two charts on June 13th as we are now up to 163 closed sales compared to 159 when I first wrote this post on the 6th.)

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the May 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman  Real Estate's May 2013 sales analysis updated

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories. Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you: Continue reading

Standard
Lake Norman photos, Lake Norman waterfront homes

Lake Norman waterfront real estate: Does it have to be love at first site?

Lake Norman waterfront home for sale

As I have written for years, Lake Norman’s waterfront lifestyles are almost schizophrenic.  On the one hand, we have the renowned luxury community The Point that is now affiliated with the Trump National Golf Club and offers stunning waterfront estates, impeccably landscaped homes and common grounds which offer a more uniform lifestyle dictated in part by the very strict home owner association rules and regulations which are in place to protect the quality and integrity of this very special community.

With 520 miles for shoreline however, most of Lake Norman’s waterfront homes are not in luxury communities but rather in as varied neighborhoods as you can imagine.  Keeping in mind that Lake Norman was created by Duke Power in the 1960’s and initially waterfront lots sold for as little as $500 you can understand that there still exist cabins, single and doublewide mobile homes dating back to it’s origins before I-77 was completed and before Lake Norman evolved into the global destination that it is today.

Honestly, most of my waterfront buyers want large, newer homes on Lake Norman’s Main Channel.  While I moved here in 2005 from Pasadena CA where I listed and sold primarily historic homes, I must admit I have grown so accustomed to showing  newer homes that when I went on a listing appointment a month ago knowing that the waterfront home was built in 1975 I had already decided it wouldn’t probably be one that I would get excited about listing.

My first mistake was wearing my The Point glasses when first touring the home and property. (Which I think many buyers do as well).  I made quick and bias assumptions focusing mainly on what the property wasn’t.  Each subsequent visit increased my interest and my memories of how to truly look at and appreciate a unique home starting with the realization that I have to stop using The Point yardstick when measuring the homes value, both monetarily and emotionally. Continue reading

Standard
Lake Norman photos

Lake Norman Real Estate’s June 2013 Calendar is Here!

 

June 2013 Lake Norman Real Estate Calendar Photo

It’s June and it’s definitely time to get out on Lake Norman!  Whether you enjoy sailing, power boating, water sports of all kinds including water skiing, wake boarding, wind surfing, kayaking, rowing, paddle boarding, tubing, swimming, fishing or just plain handing out on the water or on one of the myriad islands with your friends Lake Norman is the place to have fun in the summer!

As you can see from the photo above, Lake Norman is a huge lake that can accommodate large sail and power boats of all kinds.  There are two yacht clubs, the Lake Norman Yacht Club in Mooreville down Brawley School Rd adjacent to the Trump International Golf Club and The Peninsula Yacht Club located in the luxury community The Peninsula in Cornelius. There is also a non-profit: North Carolina Sailing and Rowing center at Blythe landing that offers lessons and sailing and rowing programs to the public at minimal costs.

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, who spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos. And, of course, he also takes some amazing photos of Lake Norman like this one. If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2013! Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2013 Hot Sheet: It’s a heat wave!

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.

Lake Norman’s 2013 real estate sales have been strong since January 1st. But, even more significant, today’s level of activity in Lake Norman for single family home sales continues to grow and break records for our post-recession Lake Norman recovery. We currently have a whopping  330 homes under contract in all of Lake Norman which not only tops last month’s 290 (which was a new high) but far surpasses every month since the recession. Buyers are out looking and making offers. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

5/21/2013

Lake Norman Real Estate's May 2013 Hot Sheet Sales Analysis.

* 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. (May 6th – 20th). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
lake norman real estate

What are Lake Norman’s current real estate market’s challenges for buyers and sellers?

Lake Norman after recent rain

Our Lake Norman housing market is doing very well right now, but that doesn’t mean that buying or selling a home is easy.  All real estate markets are constantly facing new challenges unique to myriad influences in any particular month, season or year.  Today’s typical stress-producing hurdles can be minimized if you have a good understanding of what they are and how best to prepare for them:

Mortgage/Loan process

As a direct result of the lax lending practices that led to the end of the housing bubble throughout the country, the home loan process can now be overly burdensome and frustrating.

  • Down Payments ideally should be 20% of the purchase price although there are still options, ie 10% down and 10% second loans.  Potential Lake Norman home-buyers should expect to have 20% down and should meet with a lender before you even begin to search for a home.
  • The paperwork required to get a loan can seem staggering and sometimes offensive to even extremely qualified buyers.  Be prepared to provide extensive personal  financial documentation.  This is truly of EVERY loan.
  • Underwriters can be downright irrational.  I think they are so because in part they are afraid to approve a loan that might ultimately fail.

In order to minimize the stress in the loan process, I recommend only very qualified, experienced lenders to my Lake Norman area home-buyers.  Which lender you use can make or break your ability to get a loan. (Don’t choose based on the lowest interest rate alone).  It is critical to be proactive as well.  From the first week, get a commitment from the lender as to when they will order the appraisal, what documentation they will need from you and when it will be submitted to the underwriter.  After “conditional approval”, expect for the underwriter to ask for additional paperwork right up until several days before closing.  Also make sure that your lender is in constant communication with your closing attorney so that they get the Title information etc. in a timely fashion.  I try to anticipate any potential hurdles and keep in contact with the lender to make sure everything is being processed in a timely manner.  If you are selling your home and the sale is contingent upon the buyer’s home closing, you also need to ask your Realtor to get updates on their buyer’s buyer’s loan.  I just closed on a sale with buyers who had no problems with their loan but whose buyer of their home in another state had a terrible lender who almost ruined our contract due to their incompetence.

Appraisals

One of the critical changes to our real estate process is due to the Dodd-Frank law which essentially prohibits lenders from having any direct communication with appraisers.  Lenders now use a third-party company to order appraisals. While I appreciate the reasoning behind this bill, the result has led to a number of challenges.  The most common problems are appraisals being ordered too late, appraisers who are sent out who are not knowledgeable about Lake Norman, especially waterfront home sales, appraisers who take way too long to submit their appraisals which leads to delays in closing, and appraisals that are just poorly done.  While, by law, lenders can’t contact the appraiser directly, Realtors can if we have questions or concerns.  We can’t intimidate but we can provide additional property information.  I have not actually had an appraisal come in below the contract sales price but I have experienced several fairly incompetent appraisers and an appraisal that took 2 weeks to be submitted despite a “rush” order.  So, make sure that your Realtor keeps on top of the appraisal!

Multiple Offers

As a Realtor in California during the 2000-2005 bubble years when we got up to 60 offers on a listing, we worked hard to fine-tune the multiple offer process.  If representing the buyer in a multiple offer situation, a cover letter can make the difference between you getting the home or not.  The cover letter is my way of “selling” my buyers to the seller by emphasizing their strong financial qualifications, sharing what they love about the property and anything that might strengthen their position. (One time my seller chose a buyer because they shared a mutual love of dogs!).  A good listing agent will counsel their sellers to take the offer that is most likely to close, not necessarily the highest price.  All cash in this market should trump a loan.  A short Due Diligence period is also a plus.  Pre-approval letter is a must.  And, believe it or not, the Realtor representing the buyer can make a huge difference.  I would much rather work with a Realtor I know, trust and respect and I can usually get a pretty good sense of the competence of a Realtor by how they present the offer.

Unrealistic Expectations Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2013 Sales Analysis

The dynamics of our Lake Norman real estate market are continuing to impress.  What started as an upward trend in sales and a downward trend in inventory of homes for sale in 2012 has given way to a true break through in so many aspects of our Lake Norman housing market.  There is a sense of energy and hustle reminiscent of the good old days. For some Realtors the days of 24/7 have also returned.  But make no mistake, every closing is challenging in one way or another!

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the April 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate's April 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service has created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replace the Contingent, Conditional and Pending categories.   Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you: Continue reading

Standard
Lake Norman photos

Lake Norman Real Estate’s May 2013 Calendar is Here!

Lake Norman Real Estate's May 2012 Calendar

May is a very special month in Lake Norman.   The warm weather entices boaters out on the lake where they will enjoy our spectacular, lush shorelines, with myriad Maple, Poplar, Cherry, Dogwood, Pine and other trees showing off their fresh, bright green leaves and blossoms as well as a profusion of colorful azaleas in bloom.  If you live in a waterfront home or have access to a boat, I highly recommend a day out hugging the shoreline and just soaking in all the beauty of Lake Norman in the spring!

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, who spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos.  And, of course, he also takes some amazing photos of Lake Norman.  If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2013! Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2013 Hot Sheet

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.

Lake Norman’s 2013 real estate sales have been strong since January 1st.  But, even more importantly, today’s level of activity in our Lake Norman for single family home sales continues to break records for post-recession Lake Norman. We currently have 295 homes under contract in all of Lake Norman which far surpasses any other time since the recession.  Buyers are out looking and making offers.    Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

4/21/2013

Lake Norman Real Estate's April 2013 Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (April 7th – 21st).  As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2013 Home Sales Analysis by Price

If you are a home buyer or seller in the Lake Norman it really only matters what is happening in YOUR price-range.  Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful to learn about the Lake Norman real estate market and within that, your specific niche.  For instance, if you are looking to buy or sell in the $400,000 price range, you are going to have an entirely different experience than someone in the $700,000’s.  This is exactly the reason why I create a price-range analysis every quarter:

Lake Norman Real Estate's 1st quarter 2013 Sales Analysis by Price Range

*Compiled from the Charlotte Regional Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

** Compare this to 2012 1st quarter sales analysis of Lake Norman homes by price range

How to read this report:

  • First choose a price range.
  • The next column provides the actual number of listings sold in this price range in the 1st quarter of 2013
  • This is followed by the percentage this price range represents of the total number of listings sold in all of Lake Norman area 13
  • Next is the number of active listings in this price range
  • This is followed by the percentage this price range represents of the total number of active listings
  • Finally, the last column represent the absorption rate or the number of months of supply for each price range based upon the number of listings divided by the number of sales.

Some Findings: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2013 Sales Analysis

The dynamics of our Lake Norman real estate market are definitely changing.  What started as an upward trend in sales and a downward trend in inventory of homes for sale in 2012 has given way to a true break through in so many aspects of our housing market.  There is a new sense of energy and hustle reminiscent of the good old days. For some Realtors the days of 24/7 have also returned.  I was so excited to get Easter off!

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the March 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's March 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service has created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replace the Contingent, Conditional and Pending categories.   Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you: Continue reading

Standard
Lake Norman photos

Lake Norman Real Estate’s April 2013 Wallpaper Calendar is Here!

 

Lake Norman Real Estate's april 2013 Desktop Calendar

Lake Norman is not only a beautiful lake with wonderful waterfront communities, it is also close to so many other lifestyles and cities.  You don’t have to drive far from Lake Norman in any direction to find beautiful rolling farmland full of cotton, soybeans, corn and tobacco and picturesque old farms like the one above.  On the other hand, Charleston SC is less than 4 hours by car, Wilmington and other beach communities are about a 4-hour drive, Asheville and the Blue Ridge Parkway are about a 90-minute drive, Atlanta and Washington DC about 5 hours.

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, who spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos like this one.  If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2013! Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2013 Hot Sheet is Here!

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.

Lake Norman’s 2013 real estate sales have been strong since January 1st.  But, even more importantly, today’s level of activity in our Lake Norman for single family home sales is very high. We currently have 271 homes under contract in all of Lake Norman which far surpasses any other time since the recession.  Buyers are out looking and making offers.    Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

3/21/2013

Lake Norman Real Estate's March 2013 Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (March 7th – 21st).  As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2013 Sales Analysis Predicts a HOT Spring!

Okay, so my concerns about our Lake Norman real estate market last month have proved to be unfounded; SERIOUSLY unfounded.  Not only did our Lake Norman’s strong February home sales increase our streak to 14 months in a row in which we exceeded sales from the same month in the prior year and all years since 2008, but our number of residential homes under contract today stand at a truly remarkable 255.  This means that more homes are under contract today than at any time in at least the past 3 years which is when I started recording these numbers!

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the February 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's February 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service has created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replace the Contingent, Conditional and Pending categories.   Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you:

Continue reading

Standard
lake norman real estate, Lake Norman Real Estate Market Reports

How Our Lake Norman Real Estate Market Stacks Up with National Housing Market

Lake Norman Home Sales Improving

One of my greatest concerns these days is that potential Lake Norman home buyers and sellers will base their decisions on national real estate news and even Charlotte’s housing market trends.  While in very general, broad terms our Lake Norman real estate market does share trends with the nation, when we get into the specifics there are a number of disparities which should be understood before anyone considers buying or selling a home here in Lake Norman.

Here is a look at Lake Norman vs. our National real estate numbers for January 2013:

Sales

  • Nationally, sales grew at a slower pace in January.  Existing home sales edged up .4%  when compared to December 2012’s sales but were up 9.1% when compared with January 2012.
  • Lake Norman’s home sales in January dropped 22.8% when compared to December 2012’s sales but were up a whopping 47.9% when compared to January 2012. Historically the Lake Norman real estate market sales are significantly lower in January compared to December so our 22.8% decline is “normal” for us but the 47.9% increase when compared to January 2012 is exceptional.

Number of Homes for Sale

  • The number of existing homes for sale nationally at the end of January was the lowest since April of 2005.  They represented a 4.2-month supply at the current sales pace.  In other words, if the country got no new listings it would take 4.2 months to sell all of the homes currently listed for sale.
  • The number of homes for sale in Lake Norman at the beginning of January hit a record low of 746.  At the end of January we had 10.8-month supply at the current sales pace which is more than DOUBLE the national averages. Despite hearing us Realtors complaining about our low inventory of homes for sale, the reality is we are still in a buyers’ market and have substantially more inventory than the national average.  Lake Norman’s average months of supply in 2012 was about 8 months.

Continue reading

Standard
Lake Norman photos

Lake Norman Real Estate’s March 2013 Calendar is Here!

Lake Norman Real Estate Calendar March 2012

Photograph Copyrighted by Cotton Ketchie

March is a wonderful month here in Lake Norman. After being dormant all winter, our trees and gardens start to come alive this month. As in the beautiful photo above taken at Davidson College, one of the first signs of springs are pink and white blossoming trees that seem to bloom over night.  Daffodils are popping up all over our gardens and even in the natural areas around Lake Norman. All of the beautiful hardwood trees lining the shoreline of Lake Norman are just beginning to bud but will once again be brilliant shades of green by April. And then come the incredible azaleas!

Davidson College and the Town of Davidson itself is truly a beloved part of life in Lake Norman.  The quaint, historic town offers many cultural and natural pleasures from Concerts on the Green, theater/dance and lectures at the campus to their awesome Saturday morning farmers market offering organic produce and meats.

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, who spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos like this one.  If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2013! Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2013 Hot Sheet

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 a strong 2012 for Lake Norman single family home sales and an impressive January 2013, it is critical to take the pulse of our February numbers to make certain that the optimism about our Lake Norman real estate market is justified.   Let’s take a look:

Lake Norman Real Estate’s Two-Week Hot Sheet

2/21/2013

Lake Norman Real Estate's February 2013 Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13).  These numbers represent a real time snapshot of the past two week’s activity.  (February 7th – 21st).  As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2013 Sales Analysis: A Great Start to 2013 But With Some Caveats!

Lake Norman’s strong January home sales increased our streak to 13 months in a row where we exceeded sales from the same month in the prior year and all years since 2008. Our Lake Norman real estate market is very active for what are traditionally our slowest months of the year.  However, there  is a caution in these numbers because nearly three-fourths of our sales last month were under $400,000.  Our Lake Norman housing market has some strengths which make us look good over all but there are some very weak price ranges as well.

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the January 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate's January 2013 Sales Analysis

 

* Note that the Charlotte Regional Multiple Listing Service has created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replace the Contingent, Conditional and Pending categories.   Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you: Continue reading

Standard
lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman’s 2012 Home Sales Annual Review

After a rather erratic 2011, our Lake Norman real estate market definitely has a lot to celebrate about 2012.  Not only was the volume of sales up 23% but our average price and average price per square foot both inched up for the first time since 2007.  But, my favorite word for 2012 is consistency.  Not only were sales strong, but they were strong every month in 2012 without one hiccup.

What about 2013?  My greatest concern is our lack of inventory of homes for sale.  My second highest concern is that sellers AND Realtors will over estimate our recovery and have unrealistic expectations for 2013. I am already experiencing sellers who are inflexible about their listing price due to their optimism.  No matter how much our Lake Norman real estate market has improved, overpriced listings could play a significant role in limiting our sales as will our lack of inventory.  While I don’t expect prices to go down, I also don’t expect them to go up more than about 5% at best.

Below are three charts that pretty much tell the story about our Lake Norman housing market:  Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2013 Hot Sheet

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.

There is no doubt that 2012 was a strong year for Lake Norman single family home sales..the highest sales since 2007.  But, will these improving sales continue in 2013?  Now as we start the new year it is critical to take the pulse of our January real estate market in Lake Norman.   Let’s take a look: Continue reading

Standard
Lake Norman News, Events and Celebrations

Lake Norman New Year’s Celebrations 2013

 Happy New Year  from Lake Norman Real Estate

 For 2014 New Year’s Celebrations in Lake Norman go to: Lake Norman 2014 

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

Probably the ultimate Lake Norman New Year’s Eve celebration is a cruise on our beautiful lake! Continue reading

Standard
Lake Norman photos, Relocating? Life in Lake Norman

Lake Norman Photos: from Sunrise to Sunset

It is time to share so beautiful photographs of Lake Norman!

This first group includes some of my favorites of the lake itself that I or several of my clients have taken over the years.  They include some gorgeous sunrises and sunsets.  In the future I will create groups of photos of waterfront homes, sports/boating, neighborhoods and many more!  Enjoy!

130 Lochfoot sunrise on Lake Norman

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2012 Sales Analysis; An emphatic 11!

Lake Norman’s November 2012 residential real estate sales number places an explanation mark on the belief that our housing market has hit bottom and is steadily and consistently improving.   November’s total single family home sales in Lake Norman makes it eleven months in a row that we have exceeded all prior months’ sales since 2007.  What is remarkable is that once the few last sales are input by the agents who always run late in recording their sales, I believe we will also exceed November 2006’s home sales! And, while Lake Norman has experienced atypical seasonal slowdown to a degree, it is not nearly as dramatic as most years.

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the November 2012 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's November 2010 Home sales

* Note that the Charlotte Regional Multiple Listing Service has created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replace the Contingent, Conditional and Pending categories.   Contingent Sales are now joined with Conditional sales in my reports.

Continue reading

Standard
Historic Downtown Mooresville, Lake Norman photos

Lake Norman Real Estate’s December 2012 Calendar: Old-Fashioned Holiday Cheer!

Historic Downtown Mooresville in the snow on Christmas

Photograph Copyrighted by Cotton Ketchie

Yes, we do get a bit of snow here in the Lake Norman area!

Those of you who have followed this blog since 2007 will know that I have written about the schizophrenic nature of our Lake Norman communities along the east side of the lake where you will find the historic Main Street towns of Mooresville, (pictured above), Davidson, Cornelius and Huntersville on the east side of Interstate 77 and then the newer sides of these towns on the west side of I-77 along Lake Norman.

This gorgeous photo taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, captures the charm and small-town feel of Historic Downtown Mooresville so beautifully.  On the right is the window of  D.E. Turner’s Hardware Store which was opened in 1899 and where you can still buy an old-fashioned red wagon or ice cream churn for your children.    The charming street lights and restored brick storefronts make one feel like they have traveled back in time to when cotton farmers made up the majority of the 3000 residents. (Thanks to growth, particularly on the Lake Norman side, the population has grown ten-fold since then.) Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2012 Hot Sheet

 

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.

There is no doubt that 2012 has been a very strong year for Lake Norman real estate and home sales relative to all years since 2007.   As of today the MLS has a total of 120 closed sales for May, 119 sales for June, 115 for July, 120 for August 92 for September and 92 for October; all 6 recording the highest months’ sales since 2007!  While the best October since 2007, last month was the second month in a row where our sales failed to reach 100. While still relatively strong, we are seeing a typical seasonal slowdown in our Lake Norman housing market. November, while looking to be is a continuation of this slowdown, may be one of the strongest Novembers since 2005.  Will we, for the 11th month in a row, beat the prior year’s sales for the month?  Let’s take a look:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2012 Sales Analysis; Did We Make it 10?

Lake Norman’s October 2012 residential real estate sales number should makes it ten months in a row that we have exceeded all prior months’ sales since 2007.  However, as of today, we are tied with last year’s 88 total sales. As always a few more agents will be late in recording their sales. When all the numbers are for October we should have recorded at least 90 or more. So, yes, we will make it 10 but it will be a squeaker!  However, because October 2011’s sales were unusually high beating that number still supports my belief that we hit bottom in 2011 here in the Lake Norman housing market and have had fairly robust sales consistently in 2012.  Yes, we are clearly seeing our typical seasonal slowdown but the fact that October sales will most likely equal September’s, at this point it still looks like our Lake Norman real estate market has moved into sustained positive territory.

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the October 2012 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market: Continue reading

Standard