Lake Norman photos

Lake Norman Real Estate’s December Calendar is Here!

Lake Norman Real Estate's December 2010 Calendar

December is a peaceful month on Lake Norman.  Most of our deciduous trees have gone dormant so the homes along our shorelines are now more visible and those of us with “seasonal water views” can now look out our windows and enjoy the beauty of our Lake Norman every day!

I hope you all have a wonderful, safe, and happy holiday season! Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2010 Home Sales Analysis

There were a lot of scary things going on in our Lake Norman area besides Halloween in October!

This past month was full of fear about the short and long term future of the U.S. real estate market.  Fueled by the national foreclosure freeze by many of the major banks, pessimistic views about our national housing market were released by such pundits as Karl Chase of Case-Shiller who revised his more upbeat report from just weeks before to a more subdued one.  Mark Zandi, chief economist at Moody’s Analytics, who just a month ago predicted that a housing recovery would be underway by the third quarter of 2011, recently reported that “he now thinks the foreclosure scandal could prolong the housing depression for at least another few years” according to a recent article in Inman News.  The US Department of Housing and Urban Development released their October scorecard which concluded that the housing market was “still fragile” and that we have hit bottom in terms of sales but not prices.  Finally, the National Association of Realtors revised downward their 2010 prediction in a report released on October 4th projecting a 6.4% drop in existing home sales for 2010

But, there was some good news too, especially related to the future of our Lake Norman and North Carolina economy:

  • Forbes Magazine ranked North Carolina as the 3rd best state for business in America which is up from 5th just a year ago.
  • Statistics from the Federal Bureau of Labor and Statistics show that North Carolina is the 3rd best state for declining unemployment and 4th in the nation for job creation according to a press release from Governor Perdue
  • Site Selection Magazine named North Carolina the state with the TOP BUSINESS CLIMATE for 2010 touting our extensive higher-education resources, work-force training initiatives, moderate climate, transportation infrastructure and business-recruitment efforts according to an article in the Charlotte Business Journal on November 1.

So, exactly how did our Lake Norman housing market fare in October?

Lake Norman Home Sales Chart

The total number of Lake Norman single family homes under contract (but not yet closed) on October 31st, 2010  increased a whopping 24% when compared to August and July’s numbers of  157 , and experienced a 15% increase from June’s 169  and were only 3% lower when compared to the 200 at at the end of May.   While our closed sales dropped significantly in October, there are some clear signs that the next several months will be much stronger. Continue reading

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Lake Norman photos

Lake Norman Real Estate’s November 2010 Calender is Here!

Fall colors on Lake Norman calendar

November in Lake Norman is our last chance to see our beautifully treed shoreline with myriad green, red, yellow and orange hues.  Usually by Thanksgiving our trees are bare and our sleepy gardens offer just a few colorful plants and our indestructible pansies.  Today is another perfect, fall day with a high of 70 degrees and brilliant, Carolina Blue Skies! Continue reading

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

New Restaurants and Retail News in Mooresville Lake Norman!

 

 

Driving around our Lake Norman community of Mooresville, you wouldn’t really know that there is a recession going on.  The widening of Brawley School Road and the new Exit 35 are now well under way, teasing us into thinking they will be completed before their scheduled summer of 2011. Bike lanes, side walks and landscaped center dividers are taking shape too!

While some of the big projects like Langtree at the Lake have yet to show signs of activity, a number of wonderful eateries and shops have opened or are due to open very soon:

Historic Downtown Mooresville is Happening!

  • The Bathtub Gin is considered “the destination” for local musicians and as a place to meet up with friends. Drop in at 166 N Main Street on Halloween!  (see my post on Halloween Happenings in Lake  Norman)
  • JJ Wasabi’s at 183 N. Main Street has been open for about 6 months and has added a lot of energy and great food to our Historic Downtown Mooresville.  Thank you Joel!
  • The Daily Grind, one of my favorites, has successfully opened their second location  at 170 N. Main Street. (Their first location is on Brawley School Rd at Canvasback).
  • Epic Chophouse will be the newest restaurant to open in downtown Mooresville.  Owned by one of the co-owners of Mickey and Mooch in Huntersville, It will be “a blend of upscale and casual fare…and an awesome value too”.  It is located in the old Soiree building and is supposed to open in a few weeks!

Continue reading

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lake norman real estate

Lake Norman Real Estate sets the record straight!

 

I was reading my daily real estate news from InmanNews.com yesterday (Friday, October 22nd) when I came across an error so ludicrous that I just wrote ZipRealty demanding a correction.  In the article: “Divide shrinks between ‘hottest,’ ‘coldest’ markets”, InmanNews summarized ZipRealty’s third quarter “Home Hunter Report” in which ZipRealty lists Lake Norman (Statesville) NC ZIP Code 28677 at the very TOP “of their coldest ZIP codes “with the lowest sales-to-list-ratios”.

Of course, anyone who knows Lake Norman well knows that 28677 is not one of our ZIP codes and that with the exception of a sliver of homes on the northeast corner of Lake Norman’s shoreline, Statesville is not associated with Lake Norman.

I did some research on our MLS, the very MLS that ZipRealty claims to have used for their analysis, and found these numbers:

  • In the third quarter of 2010 in ZIP code 28677 there were a total of 58 sales, only THREE of which were in our Charlotte MLS designated Area 13 for Lake Norman.  Most of the homes that sold in this ZIP code were actually in Historic Downtown Statesville which is MLS area 12/1.

 

  • The ZipRealty report claims that Lake Norman (Statesville), NC had an 87.4% average List to Sale.  They report that the average List Price for this area was $121,829 and the average Sale Price was $111,872.  Wouldn’t we love to have Lake Norman homes in this price range????

So, once I had established that ZipRealty’s numbers were totally wrong, I decided to figure out the actual numbers for our Lake Norman real estate market in the third quarter:

  • Lake Norman’s Average List Price was: $470,099
  • Lake Norman’s Average Sale Price was: $446,630
  • Lake Norman’s % of List Price was, in fact, 95.3%…a far cry from $87.4%!

This is yet another example of the risks of using national real estate news sources to evaluate our Lake Norman real estate market.  Yes, Case-Shiller and others are good resources for gaining a greater understanding of the big picture real estate trends but if one truly wants to evaluate the Lake Norman real estate market it is important to study our local MLS statistics and not rely on reports like this one by ZipRealty.

Okay, I’ll get off of my soapbox now:)

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2010 Hot Sheet

Lake Norman home sales have slowed significantly in the past few weeks after a bit of a rally. Several weeks ago I had spoken to a handful of the most active waterfront agents and we were pretty excited about the sudden burst of contracts of waterfront homes in the $900,000 – $1.4million price range.  Several homes even had multiple offers after sitting on the market for well over a year.

Unfortunately, what we had hoped to be a serious trend turned out what now appears to be an isolated blip on our screen.  As you will see from the charts below, our overall Lake Norman home sales have slowed down in the past two weeks.

Lake Norman Real Estate’s Two-Week Hot Sheet

10/07/2010 –10/21//2010

Lake Norman real estate 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.  (Oct. 7 – Oct. 21st).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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lake norman real estate

How is the foreclosure freeze impacting Lake Norman Real Estate?

Lake Norman's freezing of foreclosures

 Last week I called our Centralized Showing Service to make appointments to show properties in our Lake Norman area for one of my buyers.  Two of the properties were foreclosures.  I got a call from one of the listing agents letting me know that I wasn’t able to show the property because the bank had pulled it off of the market that very day and that he had absolutely no idea what was going on.

I was able to show the second bank-owned property and my buyer wrote up an offer.  When I submitted it on the 13th (last Wednesday) I was told by the listing agent’s staff that they had no idea when we would hear back.  (Normally a bank will respond in 24-48 hours).  A few hours later I got a call for the listing agent telling me that the offer had been rejected and no offers would be reviewed or accepted until GMAC released the property.  He told me his crystal ball had fallen off his desk and shattered so he had no idea when it would be available.  At least he had a sense of humor about the whole thing!

This is the reality of most of the foreclosures in our Lake Norman real estate market.  Right now, foreclosures or REO (real estate owned) properties make up 18% of our Conditional Sales, 29% of our Contingent Sales, 35% of our Pending Sales and 20% of the closed sales in the past month. Will most of the active contracts be cancelled? Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman Area Halloween Happenings 2010

Lake Norman Halloween Pumpkins

 For 2011 Lake Norman Halloween Information go to:  Lake Norman Halloween Happenings 2011 

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!  (Just so you know how genuine this article really is, my daughter and I carved the pumpkins above last year.)

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.  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 Palyground where you can enjoy hayrides, a corn pit, Tomato Slingshot, Duck Races and more!  See their website for more details.

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

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2010 Sales Analysis

This past month of September will not be terribly memorable for our Lake Norman area real estate market nor for our local economic news.  Our home sales continued to plod along however there are some signs that the worst may be behind us related to our overall local economy even though our housing market is still struggling:

  • Iredell County’s unemployment rate dropped slightly to 11.3% according to the North Carolina Employment Security Commission. (It’s high was 13.8% in February).
  • Mark Vitner, senior economist for Wells Fargo in Charlotte, predicts “The Charlotte region, including the Lake Norman area, will rebound faster than the nation as a whole from the economic downturn – although Charlotte area home prices will continue to drop until March 2011.”

So, exactly how did our Lake Norman housing market fare in September?

Lake Norman sales analysis

The total number of Lake Norman single family homes under contract (not yet closed) on September 30, 2010  increased 6% when compared to August and July’s numbers of  157 , and experienced a 2% decline from June’s 169  and a drop of 17% when compared to the 200 at at the end of May.

Let’s take a look at the details: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s October 2010 Calendar

Lake Norman October 2010 Calendar blue ridge mountains

After an unusually hot summer, Lake Norman is enjoying some much needed rain and wonderfully cool temperatures.  While Lake Norman is exceptionally beautiful in the fall, hugged by our abundance of hardwood tress in myriad hues of yellows, oranges and reds, October is also a perfect time to take the quick 90-mile drive up to the Blue Ridge Highway.  (Or, take the Great Smokey Mountain Train!).  The photo above is typical of the views along the Blue Ridge.  Continue reading

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Relocating? Life in Lake Norman

Lake Norman Real Estate’s Business of the Week: FreshBerry!

Lake Norman Real Estate's business-of-the-week

 

Freshberry Frozen Yogurt

 

All of us transplants to Lake Norman have a list of those special restaurants, markets, hot spots and businesses that we still miss from our prior home town or state.  Mine is kind of like a “Bucket List” and as the years go by I have been checking them off one by one:  Trader Joe’s, Five Guys (well, In n’ Out Burger but Five Guys is pretty darn close to it) Bed Bath and Beyond, healthy breakfast options (Daily Grind and Egg at Davidson), Whole Foods (well, the closest one is in Winston Salem but I count our Fresh Market in Cornelius), Neiman Marcus (I thought this was a priority until I realized that our casual Lake Norman lifestyle has deemed this almost obsolete), North Lake Mall.

 

FreshBerry Frozen Yogurt Cafe, (which is similar to PinkBerry who has several locations in Charlotte), was near the top of my daughter’s list so when I heard it had just opened in Mooresville sandwiched between Panera Bread and Starbucks on Williamson Road, we were there.

Freshberry does not serve your typical frozen yogurt that you would buy in any grocery store.  Freshberry serves all natural frozen yogurt available in FreshBerry Tart, Decadent Dark Chocolate, Vanilla No Sugar Added, Acai Berry, Classic Strawberry, Mango, and Pomegranate.  Plus, they have over 25 toppings available from fresh fruits and cereals to candies and nuts.  They have a complete nutrition chart available. Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman Denver Days, Amazing Maize Maze and more fall fun!

 

Fall in Lake Norman brings with it brightly colored trees along the shoreline, crystal clear “Carolina Blue” skies and an array of festivals, activities and even volunteer opportunities.

Our Denver Days fall festival  is back for its seventh year starting Wednesday, September 29th – Saturday, October 2nd 2010.  Created as a fundraising effort to raise money for the East Lincoln Rescue Park in Denver NC (Southwest corner of Lake Norman), they are still about 3 years away from being able to build this park.  So, come out and have a great time all the while supporting the community.  Denver Days offers carnival rides, great food, live music, entertainment, craft vendors, and even a beer garden. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2010 Hot Sheet

Lake Norman home sales in September in the past two years were actually higher than the August sales.  Unfortunately, from what our numbers are telling me, it looks like our 2010 September home sales in Lake Norman will barely keep pace with last month’s.

Lake Norman Real Estate’s Two-Week Hot Sheet

9/6/2010 –9/20//2010

Lake Norman 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.  (Sept. 6 – Sept. 20th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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

Celebrate at the Lake Norman Beer Festival this weekend!

Lake Norman Beer Festival

What better way (for adults) to enjoy the last of our Lake Norman warm summer weather than sampling ice cold beers?  This weekend, September 18-19, 2010 from 1pm to 8pm Galway Hooker in Cornelius is inviting all to join them “for a celebration of beers, bands and friendship”.

The Lake Norman Beer Festival will be showcasing over 20 craft beers from local, national and international brewers . All ticket holders will be entitled to an unlimited sampling of beers.  With this in mind, the Lake Norman Beer Festival is partnering with Dial-a-Designated Driver to provide safe rides home for those “looking to enjoy themselves responsibly”. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2010 Home Sales Analysis

You had to have been completely out of touch with the world not to know that this past month our US economic news was a bit bleak.  Talk of a double-dip recession was bantered about based upon weak numbers, most importantly jobs.

Here in the greater Lake Norman communities, particularly Mooresville, there are actually a number of new small business, restaurants and service providers.  And, according to Business Facilities.com   North Carolina ranks fourth in the US for Economic Growth Potential, sixth for Best Business Climate,  seventh for Biotechnology Strength and sixth for Biofuels Manufacturing Research Leaders.  They also ranked Charlotte 5th in their Top 10 of Metro Areas with the strongest Economic Growth Potential.

I am confident that our long-term future is very bright for our Lake Norman communities.  I wish I could say the same about our current housing market!

The most stunning and shocking news hit my email on September 3rd. Simonini Builders, one of our best and most forward thinking builders, unexpectedly announced they are “winding down” all of their current building and will not be taking any new orders for custom homes.  After much fanfare about their new Preserve at Robbins Park community representing the future of our Lake Norman housing including a focus on energy efficiency and smaller, more effective floorplans AND the fact that they are the only builder participating in our annual HomeArama featured in the September issue of our Lake Norman Magazine, it appeared that Simonini was going to lead our local builders out of the recession.  Instead they are closing their doors permanently.

August has been a relatively weak month of the year for Lake Norman home sales.  This past August our sales were almost flat compared to 2009:

Lake Norman sales analysis

The total number of Lake Norman single family homes under contract on August 31, 2010  were identical to our numbers of  157 when compared to the end of July, a 7% decline from June’s 169  and a drop of 15.5% when compared to the 200 at at the end of May.

Let’s take a look at the details: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s September 2010 Wallpaper Calendar is here!

Lake Norman calendar with sailboat

 Lake Norman is known for its remarkable sunsets.  As a matter of fact, many of my Lake Norman waterfront buyers will choose a west facing home just for the opportunity to enjoy daily, spectacular sunsets.

But, don’t under estimate our sunrises either!  I took this photo last fall early one morning.  As is sometimes the case, at dawn the lake is blanketed with a beautiful foggy mist.  (As in my photo below).  When the sun rises, the mist gives way to a crystal clear sheen as in my photo above.

Lake Norman sunrise

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 an image of my Lake Norman photo wallpaper calender for September 2010.  All you have to do is right click and select “set as background”.  If you would like a copy of this photo without the calendar, just send me an email.   Continue reading

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lake norman real estate

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 News, Events and Celebrations

Southern Ideal Fall Home Show is August 27-29, 2010

 After such an unusually hot summer here in the Lake Norman area when my free time has been spent nurturing my Wildlife Habitat Garden just to keep it alive, I am looking forward to being inspired once again by the Southern Ideal Home show being held at The Park (the old Charlotte Merchandise Mart) this weekend, August 27-29.

Better known for their magnificent Southern Spring Garden Show, this fall show will also offer”hundreds of experts and thousands of ideas for building, remodeling, landscaping or decorating projects for inside and outside the home all in one place.” according to an article on LakeNorman.com.

They will have a Cooking Stage for demonstrations from top chefs, wine sampling from North Carolina wineries and so much more!

For more information: 704.376.6594. Or email Mardee Woodward: mwoodward@southernshows.com

Hours:

Friday: Noon – 8pm

Saturday: 10.am – 7pm

Sunday: 10am – 5pm

Admission Prices

At the door:  Adults $9, Children under 15 free with adult

Seniors Day is Friday: $7  ($55+)

Check out their Facebook Page for more updates! : 

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

Pine Needles Versus Hard Wood Mulch: Lake Norman’s Great Debate!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 20, 2010 Hot Sheet

Our local Lake Norman homes sales this month are in step with the US’s rather lackluster housing market. After the bump this spring due to the tax rebates, our Lake Norman home sales have slowed down enough to seem unable to even match 2009 or 2008 sales numbers for the same time period.

Lake Norman Real Estate’s Two-Week Hot Sheet

8/6/2010 –8/20//2010

Lake Norman 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 6 – August 20th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Lake Norman waterfront homes

Lake Norman Waterfront Home Sales Analysis 8/15/10

Lake Norman waterfront home in The Point

 Due to the eclectic nature of our Lake Norman waterfront homes, it is very difficult to make broad brush assumptions and statistical analysis that are truly meaningful.  How do we compare a home at the end of a cove to one with main channel shoreline let alone a 1980’s cottage on a rustic road to a grand estate in The Point?  Even our waterfront lots vary in price from the $100,000’s to well over $1million.

That said, Lake Norman waterfront home buyers want to know as much as possible about our current waterfront home sales in order to determine when to buy and how much to offer.

My current and very general rule-of-thumb is that at our peak waterfront homes sold on average at about $300 per square foot depending on the age, condition, quality of water, location etc.  Today my rule-of-thumb average price is about $200 per square foot.

To offer my specifics, I pulled data from our Charlotte MLS for waterfront properties since May 1, 2010 ranging in price from $300,000 to $1,500,000 thus eliminating the extreme highs and lows.  Here are the results:

  Continue reading

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

Life on Lake Norman From a Transplant’s Point of View!

Those of you who have been reading my blog for a while will know that I do write a lot about why I love living on Lake Norman.  However, this clever email I got from one of my clients recently pretty much says it all.  I hope you enjoy it as much as I do!

Diane,

You didn’t tell us we were living next to an airstrip with  low flying traffic.

Landing

Aborted Landing

Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2010 Sales Analysis

Lake Norman Sales Analysis

 Unfortunately, the number of Lake Norman home sales that closed in July underscores the impact of the housing tax credit expiration.  Not only did our volume of homes sold fall significantly short of last month’s 104, they also came in lower than July 2009.  In fact, July 2010 was actually the weakest July in Lake Norman home sales in at least the past 6 years!

  • The total number of Lake Norman single family homes under contract on July 31, 2010 dropped to 157 or 7% when compared to the end of June’s 169 which was a drop of 15.5% when compared to the 200 at at the end of May.  This is the third month in a row that our total combined sales contracts dropped when compared to the prior month.  This would further substantiate my prediction from last month that our closed sales have peaked for this season and perhaps for the rest of 2010.  This peak can most certainly be attributed to the home-buyers tax rebate program that initially expired on June 30th.  While the deadline was extended by Congress to September 30th, this only helps currently active contracts that were opened by April 30th.

Continue reading

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Lake Norman photos

Lake Norman Real Estate’s August 2010 Desktop Calendar is Here!

 Lake Norman Real Estate's August 2010 Calendar

 It is hard to believe it is already August!

Here in Lake Norman, August is the last month of our hottest weather and the final days for kids before school starts at the end of the month. After record heat in June and a number of pretty warm days in July, this first week of August is looking to be perfect weather to be out on the lake or even working in the garden. (Today it is only 75%!).  I hope all of you take time to sit back in a chair and simply relax.  Hopefully this photo is an inspiration for you to do just that! Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 21, 2010 “Hot Sheet”

Given that it is 96 degrees out, I guess this analysis truly is “hot”!

As anticipated, all signs point to a significant slow down in our Lake Norman home sales this month after June’s strong numbers fueled by the Federal housing tax rebates.  Unfortunately, the Charlotte Multiple Listing Service, from whom I get the numbers for all of my reports, launched a new computer program last week so I’m afraid we may not be comparing apples to apples today but I have done my best to make the numbers below as accurate as possible.  One thing I do know is that our sales so far this month stand at 36, a full 36% drop from June.

Lake Norman Real Estate’s Two-Week Hot Sheet

7/7/2010 –7/21/2010

Lake Norman real estate 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.  (July 7- 21th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman’s AquaPalooza 2010: The Ultimate Summer Celebration!

Lake Norman AquaPalooza by Sea Ray boats

 What better way to spend a summer weekend than on our beautiful Lake Norman?!  Want to share the day with a few thousand friends, a live, on-water band  and all sorts of fun?  Then check out AqualPalooza Lake Norman 2010 which is next Saturday, July 31st  from 11:00am – 5pm at the Midway Marina at the HWY 150 bridge.

What is AquaPalooza?  Basically it is a huge celebration; the largest boating event on Lake Norman this summer. According to their Facebook page, they already have over 350 boats and 2,500 guests registered to attend. AquaPalooza  “is the name given to a series of on-water celebrations held during the last two weeks of July at more than 100 locations around the world.  Each gathering features fun activities for family, friends of all ages!”.

The sponsor this year is Sea Ray of Lake Norman.  It is a free event which is open to all boaters featuring live music and “many giveaways”.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2010 Sales Analysis is Here!

Lake Norman real estate sales chart

 Just as I predicted, our Lake Norman home sales broke through 100 in June, thanks in good part to the June 30th deadline for the home-buyer tax credits.   Keeping this in mind, there are reasons to be cautious when assessing our current Lake Norman housing market:

  • The total number of Lake Norman single family homes under contract on June 30, 2010 dropped 15.5% to 169 when compared to the 200 at beginning of the month.  This is the second month in a row when our total combined sales contracts dropped in double digits when compared to the prior month.  This would leave me to conclude that our closed sales have peaked for this season and perhaps for the rest of 2010.  This peak can most certainly be attributed to the home-buyers tax rebate program that initially expired on June 30th.  While the deadline was extended by Congress to September 30th, this only helps currently active contracts that were opened by April 30th.

Let’s take a look at the details: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s July 2010 Wallpaper Calendar is Here!

 Lake Norman real estate Calendar

 Today is July 1st  and another wonderfully cool day in Lake Norman after several weeks of unusually hot weather.  This is ideal weather for all of our Lake Norman areas sports and recreation.  What a perfect day to be out on the lake boating, cycling, playing tennis, having a picnic with family and friends, and, oh yes, GOLFING.  I owe all of you avid golfers out there an apology because despite the fact that we have an amazing number of beautiful golf courses in and around the Lake Norman area, I rarely mention golf on this blog.   I have never played golf, perhaps out of a fear that I would get addicted to the game and I simply don’t have enough time to devote to a new sport.

So, in honor of all of you golfers I chose this month’s photo.  I hope you like it! Continue reading

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

New Lake Norman Boating Safety Law Now in Effect!

Lake Norman Jet skier

 Lake Norman in the summer is truly a haven for all ages, but especially for kids.  Imagine the freedom and fun for kids as young as 12 must feel when driving their own Jet Ski or boat! It doesn’t hurt that the National Marine Manufacturers Association listed North Carolina, specifically their “Hot Spot”: Lake Norman, as #4 on their list of top 10 “on-the-water” destinations in the US!

A new North Carolina law that went into effect this past May 1, 2010 was passed to ensure our younger boaters are SAFELY enjoying their summer.  It is now mandatory for all boat operators 25-years or younger to pass a Wildlife Resources Commission boating safety class BEFORE heading onto the lake.  According to Senate Bill 43, “no person shall operate a vessel with a motor of 10 horsepower or greater in public waters of this State unless the operator has met the requirements for boating safety education.”  Operators age 25 or younger must carry proof of boat-safety certification…violators will be issued a citation, which requires a court appearance.

Here is a partial list of Lake Norman area boating safety classes:

Lake Norman Sail and Power Squadron

Lake Norman Marine Commission

Lake Norman Marina

If you are heading out on Lake Norman for the first time, no matter what age, it is a great idea to take this safety class and know the rules and regs of the lake.  Do you know what a no-wake zone is or how far from the shoreline you must be before you can go fast enough to make a wake?

It is also really easy for visitors and newcomers to Lake Norman to get disoriented once on the lake.  We always have on hand our lake map with all of the markers and services/marinas and we take a GPS.

For more information there is a great website: Lake Norman Boaters Guide.

Are you ready for the 4th of July?  It’s going to be a great summer…be safe!

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Lake Norman Real Estate: What Kind of Boat is This?

Fly to Your Lake Norman Home at our Lake Norman AirPark Community!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2010 “Hot Sheet”

Well, I have good news and I have bad news….which would you like to hear first?  Okay, let’s go with the good news:  June home sales in our Lake Norman area are closing at a very brisk pace.  As a matter of fact, we are trending at about 30% higher than a year ago when we closed 87 sales in June 2009.  Will we break the 100 mark for the first time since July 2008 by the end of this month? I’m betting we will based upon the numbers below and what I am hearing from our stressed out closing attorneys.  Everyone wants to close by June 30th!

That brings me to the bad news.  Even if Congress extends the closing deadline for the Federal tax rebate that is currently set to expire on June 30th, the opportunity to open a new contract and qualify for a rebate is gone. The honeymoon will be over for our housing market and reality will set in just as we enter our seasonally slower fall months.

Lake Norman Real Estate’s Two-Week Hot Sheet

6/6/2010 –6/20/2010

Lake Norman 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 6-20th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman 4th of July 2010: Plenty of Ways to Celebrate!

 Lake Norman Fireworks

 Note, for 2011 Lake Norman 4th of July events, please go to:  Lake Norman Real Estate’s 4th of July 2011 !

“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 two 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 2010:

Saturday, July 3rd at 11:00am the 6th Annual Iredell County Independence Day 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 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 over one hundred entries including floats with United States Veterans from all of our wars, 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 Gold Star Mothers will be leading the way as the Grand Marshalls. Gold Star Mothers are those that have lost a son or daughter during their service to the United States. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2010 Sales Analysis

 Lake Norman sales analysis chart

 Once again this month, just as in April, to the casual observer, our Lake Norman May 2010 housing market report above might look very strong.  After all, inventory is down and contingent, conditional, pending and closed sales are up.

It is so important to put all statistics in context.  Yes, our sales are up and our inventory is down.  But, remember that April 30th was the deadline for opening sales contracts for the homebuyers’ tax credits with a June 30th deadline for closing.   Keeping this in mind, there are at least several reasons to be cautious when assessing our current Lake Norman housing market:

  • On May 1st we had a total of 227 contingent, conditional and pending sales (compared to 200 on May 31st) and they resulted in only 85 closed sales in May.  This means only 37% of the housing contracts that were active on May 1st actually closed in May.  Pending sales are ones that are just waiting to close .  So forgetting the conditional sales for a moment,  why did we only close 85 out of the 117 pending sales?  The answer lies at least in part to the number of canceled contracts due to the tough lending environment.
  • The number of Lake Norman single family homes under contract on May 31, 2010 was actually down 13.5% when compared to the beginning of the month.  Did our number of sales contracts peak in April?

Let’s take a look at the details: Continue reading

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Lake Norman News, Events and Celebrations

Lake Norman Wine and Food Festival is this weekend, June 5-6th!

 Lake Norman Wine and Food Festival

As I have written many times before, life in the greater Lake Norman area and throughout North Carolina wouldn’t be complete without our many and diverse community festivals.

But, this weekend you won’t find funnel cakes or giant turkey legs, because this weekend we will be celebrating our local wineries and restaurants!

According to Lake Norman Wine and Food Festival, ” The event will include a number of distinct areas including: The Main Tent, wine lectures and cooking demonstrations; the Wine Reservoir, wine tastings from local wineries; the Restaurant Galley, small dishes from local restaurants; as well as Merchants area, regional vendors and boutique offerings.”

Wine lovers will have an opportunity to taste over 60 different wines from a dozen wineries including: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s June Wallpaper Calendar is for the Birds!

Lake Norman Heron photo

 Life in Lake Norman NC in June is all about the lake.  If you are a boater, skier, sailor or an enthusiast of myriad other water sports and recreation, most likely the lake will be your home away from home this month.

But there is another side of Lake Norman’s gifts to us lucky enough to live here and that is the flora and fauna; the wonders of mother nature.  Thanks to the growing efforts by Duke Energy AND many passionate residents, our lake continues to be home to an incredible array of wildlife, both furry and with feathers!

One of my favorites is the Blue Heron.  If you are lucky, you might see a Blue Heron walking along the shoreline or taking majestic flight like the photo above.  Continue reading

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lake norman real estate

Lake Norman Real Estate: Is Mooresville Really Bucking the Recession?

Lake Norman isn't following the leader!

The other day I was finally able to try out one of Historic Downtown Mooresville’s latest additions;  JJ Wasabi’s …”An Asian Grill with an American Flairwhich has the same great food and fun atmosphere as its highly successful big sister “Joel’s Asian Grill & Sushi”  located on the Lake Norman side of Mooresville.  As I watched the young, rather hip looking staff dart from table to table I was struck by the diversity of the diners and the vibrant atmosphere that had been lacking in Downtown Mooresville since long before I moved to Lake Norman in 2005.

I remember my husband and my’s very first visit to Mooresville.  It was 3pm and we couldn’t find one place to even have a sandwich in our Historic Downtown!  Today, thanks to the tireless efforts of  the Town of Mooresville, investor/developer Howard Kosofsky and other passionate local residents, JJ Wasabi’s joins other exciting new businesses that have recently opened in Downtown including a mouth-watering bakery:  The Whirling Whisk Baking Company (who has truly awesome pastries, cookies, cupcakes and more),The Bathtub Gin, (a happening nighttime hangout offering “Good times. Good drinks. Good Friends.” including live music and free WiFi!) and one of my favorite Lake Norman restaurants The Daily Grind which will be opening their second location on Main St. soon as well.  When I look down Main Street and note the many refurbished buildings, lively storefronts, sidewalk and street improvements it is hard to believe we are in a recession. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2010 Hot Sheet is Here!

As expected based upon last month’s strong  “pending” home sales in our Lake Norman area,  our closed sales show signs of improvement both when compared to last month and the same period in May 2009. The question is how much of a role the April 30th tax credit deadline played in these improved numbers:

Lake Norman Real Estate’s Two-Week Hot Sheet 5/6/2010 –5/20/2010

 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 6-20th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2010 Sales Analysis

To the casual observer, the Lake Norman April 2010 housing market report above might look pretty darn good.  After all, inventory is down and contingent, conditional, pending and closed sales are are up.

So why am I not celebrating?  Because last month we had a total of 194 contingent, conditional and pending sales (compared to 227 this month) and they resulted in only 76 closed sales.  That’s a mere 39% of sales that actually closed successfully.  Continue reading

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Lake Norman photos

Lake Norman Real Estate’s May 2010 Desktop Calendar is here!

Lake Norman Real Estate's May 2010 Calendar

 Today is May 1st  and another beautiful day in Lake Norman. Our weather is perfect, our gardens have been refreshed for summer and now it is time to get out on the lake and have some fun.  This is why we all moved here!

Lake Norman truly comes alive in May.  While I have been seeing many boats out already, the weather in May provides endless days with our Carolina Blue Skies, gentle breezes and mild temperatures.  Quite a few of my clients are avid sailors so this photos is particularly for them and all of you sailors out there.  Continue reading

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Lake Norman Real Estate Market Reports

Is “The Point” leading Lake Norman’s Real Estate Recovery?

The Point in Spring Time

 

The Point  in Mooresville NC is arguably the most prestigious luxury community in all of Lake Norman and it is also the largest with 18 miles of beautiful Lake Norman’s shoreline.  Those of you who are regular readers will know that I like to monitor the sales trends at The Point to glean more insight into our Lake Norman luxury home market.

I have been noticing some notable trends in The Point recently; an increase in sales and a drop in active listings both of which bode very well for The Point and may be an indication of other micro-real estate markets around the lake.  Continue reading

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Relocating? Life in Lake Norman

Lake Norman’s Brawley School Rd Widening: Be Careful What You Wish For!

 

Lake Norman's Brawley School Road Widening

All winter long those of us who live down Brawley School Rd. on Lake Norman’s largest peninsula were wondering why construction of the widening project had ground to a screeching halt. So much so that I actually wrote to the NCDOT to get an update and shared his response on this blog: Brawley School Road Widening Update March 2010 .

Well, to say that construction is back with a vengeance is an understatement!  Unfortunately,  with it has come an unprecedented level of traffic delays that are so severe at times that many of us are having to plan our day around what time might be best to try to get in or out.  Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2010 Hot Sheet!

As expected based upon last month’s jump in “pending” home sales in our Lake Norman area,  our closed sales show signs of improvement both when compared to last month and the same period in April 2009.

Lake Norman Real Estate’s Two-Week Hot Sheet

4/6/2010 – 4/20/2010

 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 6-20th).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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lake norman real estate

Lake Norman Real Estate: Real Life Experiences with Short-Sales Part 2

 “DECLINED”.  After 6 grueling months of waiting, Bank of America just simply declined my buyers’ shortsale offer.  No counter offer, no explanation.  This is the first distressed sale of any kind that I have not closed and I must admit, I was blind-sided by the news.

While Bank of America is notorious for their reprehensible handling of home loans, especially shortsales, I guess I had to experience it for myself.  The irony is that in an article in the Washington Post last July, 2009,  the writer stated that Bank of America was going to “streamline its short-sale process so that it would only take SEVEN days to obtain shortsale approval.”

Here is my experience:

October 20th, 2009:  Submitted offer to listing agent.

October 20th:  Seller Accepted offer

March 30, 2010:  Offer was declined

Below are emails from the listing agent which provides you detailed insight into this failed transaction: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2010 Sales Analysis

Lake Norman’s March 2010 Single Family Housing Statistics 

 Our March Lake Norman real estate numbers for single family homes are a definite  improvement over last month’s rather dismal numbers and those of  the same time a year ago (March 2009) as well. However, before we jump up and down declaring the worst is over, we need to analyzed these numbers more closely and see what they are telling us. Continue reading

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Relocating? Life in Lake Norman

Hope Park in Mooresville epitomizes the giving spirit of Lake Norman residents!

Hope Park in Mooresville Lake Norman

 On a rainy weekend in March more than 900, yes NINE HUNDRED, Lake Norman residents came together to make  Hope Park at the Lowes YMCA in Mooresville  a reality.  According to several of my clients who volunteered, they did everything from assembling the custom designed swings, slides and climbing apparatus to painting flowers in cheerful colors on several play houses.  Many of our struggling local builders also generously volunteered and played the critical role of organizing and performing some of the more difficult jobs. Continue reading

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Lake Norman photos

Lake Norman Real Estate’s April 2010 Calendar is here!

Lake Norman Real Estate's April 2010 Calendar

Spring is here!  Just in the last two weeks our entire Lake Norman area has sprung to life.  Blossoming trees line the streets and adorn gardens.  Bright yellow forsythia and daffodils are in full bloom and all of our plants and trees are budding.  It is supposed to be 80 degrees this afternoon!

Here is a photo I took yesterday in Huntersville: Continue reading

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lake norman real estate

Lake Norman Real Estate: Real Life Experiences with Lake Norman Short Sales

Unless you have actually experienced a “short sale” first hand, it is nearly impossible to understand the process and anticipate what to expect.  Unlike most foreclosures, each short sale is very different and they are not guaranteed to close.  To help my Lake Norman homebuyers and sellers better understand short sales, I am going to share some actual Lake Norman short sale transactions with you. But first, a few facts and opinions:

Short sales are best for buyers that have an incredible amount of patience and are able to handle the “not knowing” for months. 

If you like roller coaster rides, want a “deal” and are not in a hurry, then you may be a good candidate for a Lake Norman short sale.  So far, every one of my short sale buyers has successfully negotiated and purchased their homes at excellent prices but not without a lot of stress related to being totally out of control of the process and not knowing for months if the bank will approve their offer…and some are STILL waiting.

Of course, Realtors’ favorite saying is that there simply NOTHING short about short sales.  But, there is also nothing mysterious about them either.  The process is relatively straightforward albeit complex and unpredictable: Continue reading

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lake norman real estate

Lake Norman Real Estate: In the News

 

At any given time I have a stack of ideas about 3″ tall of articles for this blog.  One category, real estate and Lake Norman/Charlotte business news, had grown to an unmanageable level.  So, rather than write a dozen individual blog posts I have decided to combine them into one longer one sharing  just the highlights.  If you want more information, please send me an email! 

Mooresville – Statesville named # 1 micropolitan area by Site Selection Magazine for economic development projects in 2009:

20 new economic development projects ( which must include a corporate facility expansion of $1 million or greater, 50 new jobs or more or 20,000 sq. ft or more of new floor space) put Mooresville – Statesville ahead of 576 micropolitan areas nationwide in 2009 as well as for 7 out of the last 8 years.  According to Ron Starner, general manager of Site Selection Magazine and Conway Data Inc. “Statesville – Mooresville dominates the micro category year after year because of its products, location, work force and business climate.”  Clearly, we are a great place for business!  Related news:  A Mooresville manufacturing plant, Polymer Group Inc, is considering its Mooresville site for a $70 million dollar, 150,000 square-foot addition.  Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s Friday Hotsheet: March 19, 2010

Along with the arrival of some beautiful weather came a marked increase in activity of all kinds in our Lake Norman housing market.  While I am projecting relatively disappointing actual closings this month, the numbers below show a definite jump in activity in the past two weeks.

Lake Norman Real Estate’s Two-Week Hot Sheet

3/5/2010 – 3/19/2010

 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 5 -19).  As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Lake Norman News, Events and Celebrations

Brawley School Road Widening Project Update 3/2/2010!

 

Lake Norman's Brawley School Road Widening

 

Sent By: Diane AuritDate/Time: 3/2/2010 8:41:26 AM
Comment:
Hi, Many of us down Brawley School Road are wondering why all work came to a halt just before Christmas and has not resumed. I would love to be able to provide an update to my blog readers! Thanks so much, Diane 
Sent By: Contact Us AdministratorDate/Time: 3/2/2010 9:01:26 AM
Comment:
Mrs. Aurit, All upcoming work has to be performed in warmer temperatures, i.e. paving, chemical stabilization, concrete curb & gutter, etc. This is typical for this time of year and this type of work. Once temps are consistently warmer, work will pick up drastically. Our completion date is still July, 2011 and we expect our contractor to meet this deadline.If you have further questions, feel free to call me at               704-876-3543

 

Thanks,
John Cook
Resident Engineer, Statesville Construction


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Lake Norman News, Events and Celebrations

Lake Norman Real Estate’s Growth and Development Update Part 2

Lake Norman construction on Brawley School Road

 

Despite what you may read in the news, if you drive around the Lake Norman communities you will see active construction sites, albeit, not nearly as many as a few years ago.  And, behind the scenes developers are busy modifying their plans due to the change in the local and national economy but many are still moving forward in some form or another. Continue reading

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