FRIDAY, JUNE 27, 2008 LAKE NORMAN RESIDENTIAL REAL ESTATE HOT SHEET Hot Sheet 6/27/08 6/10/08 5/12/08 4/12/08 3/10/08 New Listings 142 149 189 169 174 Back- on Market 55 55 46 42 40 Price Changes 248 243 212 204 154 Pending Sales 55 47 49 37 52 Sold 41 47 45 44 35 Conditional + Contingent 18 19 18 17 22   Announcing a new feature for this Lake Norman Real Estate Blog:  The Friday Hot Sheet!  Despite all of our technology, one part of our real estate practice has consistently been an important part of our routine...pulling the daily, or in this case, bi-monthly Hot Sheet which gives us a snapshot update for all residential real estate activity in Lake Norman for the past two weeks.  Above is a chart with today's numbers and then, for comparison, numbers I pulled throughout the spring.  ... 06/27/2008

  From nostalgic patriotic parades to community festivals with firework displays to myriad planned and spontaneous boat-tie up 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! Saturday, June 28th at 11:00am is the Iredell County Independence Celebration Parade which is an annual event held in downtown Troutman.  The truly old-fashioned parade features "everything from professional floats to kids pulling a wagon with a dog in it".  This will be the third year I will be on the Mooresville Lake Norman Exchange Club float so I can tell you from first-hand experience what a fun, Norman Rockwell type event this is.  We hand out over 2000 flags to children every year as w... 06/22/2008

FEATURED LISTINGS This quant Luxury Home Community offers 19 wooded home sites ranging in size from 0.7 acre to more than 1.0 acre. Residents enjoy seasonal water views of beautiful Lake Norman, neighborhood picnic area and their very own small sandy beach. Homes at Tuskarora Point are designed in the Craftsman Style and are built by one of the lake area's finest builders. Less than 10 home sites remain so call Charlotte Luxury Home Specialist Craig R. LePage at 704-618-2412 today for more information. Community: Tuskarora Point Price Range: $500's to $1.5 Million Location: Mooresville / Lake Norman / North of Charlotte County: Iredell Community Description: Wooded, Lake Access   Amenities: Picnic Area, Small Beach   Home Site Sizes: 0.69 to 1.1 acres Number of Home Sites: 19 Sq. Ft. R... 06/19/2008

FEATURED LISTINGS  Sconset Village Sconset Village is a multi-phase gated community at The Point in Mooresville. This small enclave of homes is modeled after the New England style cottages of Nantucket. Around 40 home sites will be available for future residents to choose from multiple floor plans and various elevations prior to the building process. Sconset Village in already in phase 2 and a handful of Speculative homes are under construction and ready for purchase. Residents of Sconset Village will have the opportunity to choose from any of the club memberships The Point has to offer. Community: Sconset Village at The Point Price Range: $600's to $700's Location: Mooresville / Lake Norman / North Charlotte County: Iredell Community Description: Gated, Green Community   Amenities: Bo... 06/18/2008

    What we have felt for quite some time here in the Lake Norman real estate market has been officially substantiated:  The number of people moving to the greater Lake Norman and Charlotte region has slowed according to a Charlotte observer article: Signs suggest regional influx slowing. In Lake Norman we saw it first happening as much as a year ago when buyers planning to move to Lake Norman couldn't because they either were unable to sell their homes in the most hard-hit states around the U.S or hesitated to buy in a downward trending real estate market.  Since about 75% of our Lake Norman real estate sales involve buyers from other regions or states, I think this impacted our market even more than Charlotte last summer and fall. The indicators used in this article include: School en... 06/16/2008

  One of the newest peninsulas to be developed on Lake Norman  is Fern Hill Road which straddles the towns of Mooresville on the south and Troutman on the north:     Woodleaf is an interesting subdivision that winds its way along  the water view side of Kenway Loop and inland along several new streets as well.      Developed in 2006,  most of the homes for sale are new construction on heavily wooded lots.  They range in price from $489,900 to about $800,000 depending on the size of the home, the builder and the location of the lot.  Many of the home sites along Kenway Loop have water views.    Just up the street, Northington Woods  offers  both models and customs homes by a number of area builders.   There are currently 15 homes for sale in Northington Woods priced from $424,000 - $639... 06/14/2008

  If you read my article about the schizophrenic nature of the towns along the east side of Lake Norman, then you will already know that the east side of the Interstate 77 is where you will find the original Main Streets and older homes.  These areas have also experienced significant growth but because they were originally farmland and are a fair distance to Lake Norman, the housing growth has focused on more moderately priced homes. In Mooresville, three of the most popular subdivisions where prices are in the $100,000's - $200,000s are Curtis Pond, Kistler Mill and Linwood Farms.  All three of these housing developments are within the city limits of Mooresville so enjoy their excellent schools, and city services like water and sewer. Curtis Pond is a very popular, large subdivision o... 06/12/2008

    So, it's 100 degrees outside today, June 10th, in the greater Lake Norman area.  A great day to stay inside and crunch some housing numbers.  As I was thinking of the rather gloomy U.S. economy, it reminded me of the term we used in LA for our June weather due to the daily morning fog: "June Gloom".  But is the real estate market in Lake Norman really gloomy? It's been about 4 weeks since my last update on our Lake Norman housing market.  While I always find it interesting to look at and play with the latest numbers from our Charlotte Regional Multiple Listing Service, this time I was very curious to see what I could learn because recently there have been some singular but promising events: I listed a home in the high $400,000's, a traditionally weak price range and we had an accept... 06/10/2008

When one thinks of our Lake Norman communities images of large estates on the water, new upscale shopping and restaurants, and a lifestyle revolving around the myriad lake recreational opportunities most likely come to mind .     But, on the east side of Lake Norman, the towns of Huntersville, Cornelius, Davidson, Mooresville and Troutman truly have two distinct and very different personalities related to their location of the Interstate 77.    One has to remember that all 5 of these towns were originally founded along the path of the north/south railroad from Charlotte to Statesville long before Lake Norman was even created.            Today, these quaint Main Streets still exist along with their surrounding historic homes and memories of days gone by.  Most of these towns' civic cent... 06/06/2008

  One of the hottest areas for housing growth on Lake Norman is along Fern Hill Rd.  Straddling Mooresville and Troutman, Fern Hill Road curves its way through farms and forests from just west of the I-77 to the shores of Lake Norman.    When you first travel west on Fern Hill you will pass farms dotted along the country side amongst brand new upscale subdivisions. Some of this farmland is actually part of the Voluntary Farmland Preservation District.   As you get closer to the Lake Norman, the farms give way to heavily wooded forests and slightly rolling hills. The many small roads and lanes snake their way through the trees opening to the beautiful lake shoreline.     Each housing development along Fern Hill Road has its own character, features and price ranges. Some, like Woodstream... 06/04/2008

  I knew it was coming but I still felt a pang of sadness when I saw the bright red number spray-painted on this quaint and historic landmark.  As I read in the Charlotte Observer months ago: "The last home remaining from the long-ago community of Mayhewtown is about to be leveled for the widening of Brawley School Road In Lake Norman." The bright red number is the last thing this house will see before the tractors mow it down.  I wrote a while back about a wonderful old store that had just been torn down as well.  But, this isn't just a builiding.  This home represents the decendents of all of the Mayhew family who settled in our area in the late 1700's.  Over 200 years ago the small town of Mayhewtown had about 40 farming families who raised cotton, soybeans, oats and corn.  Most of ... 06/02/2008

  After looking at Lake Norman waterfront home prices, buying a waterfront lot on Lake Norman may seem like a pretty good alternative.  After all, in our real estate database we currently have 288 waterfront residential lots for sale starting at $125,000 on up to about $2 million.  So, if you look even as high as $300,000 - $400,000 surely you will find a nice lot with lovely views something like the one above:  Wide open views of the lake and lovely homes along the opposite shoreline in the distance?  Not so much.   The reality is that Lake Norman has myriad tiny coves that reach way into the land like skinny fingers. These coves vary tremendously in size, depth of water and topography.  Some of the shoreline is very steep but some is quite flat with beautiful beaches.    Obviously, i... 05/29/2008

  Living in Mooresville NC during NASCAR's "Speed Week", which starts with the All-Star Race on one weekend and ends with the Coca-Cola 600 on the Sunday of the second weekend, is a bit like living in Pasadena during New Years.  Race fans from all over the world converge on Mooresville and Charlotte  for the myriad festivities both before, during and after the actual races at Lowe's Motor Speedway.    Why Mooresville?  We are home to many of the largest race teams including:  DEI, Penske, Petty Enterprises, JR Motorsports, Rusty Wallace Racing, Red Bull, and so many others.  Race Shop Tours offers a 7-hour tour during which you visit 23 Teams!  Mooresville is also home to the NC Auto Racing Hall of Fame. This article in the Mooresville Tribune: Mooresville's Race Week 2008  lists quite... 05/25/2008

Contrary to the recommendation of the budget committee, Mooresville Town Commissioners have agreed to fund the CATS 83X line for at least one more year. The 83X line runs several times a day between South Iredell/Mooresville and the CATS terminal in Charlotte. However, it relies on subsidies from the Town of Mooresville to meet operating costs. Mooresville's existing contract to help subsidize the line is set to expire, and initial reviews of the Town budget led the Commission's budget committee to recommend not renewing the subsidy agreement. Despite the budget committee's initial reports implying low ridership, word about possible cancellation of the line spurred massive rider response, prompting shows of support at town meetings and a website for supporters of the line. While CATS of... 05/22/2008

  Some of the Lake Norman neighborhoods with the most character and personality are not in subdivisions.  If you are looking for a more eclectic lifestyle where life is a bit kinder and gentler, I encourage you to take a drive down McKendree Road.    Located off of  Brawley School Rd just before you reach The Point, McKendree Road leads to numerous winding waterfront loops and lanes nestled in tall trees.    As you drive along these roads you will pass by the few remaining old mobile homes,  many charming lake cottages and large custom homes all happily coexisting.  Neighbors out walking or tending their gardens will wave as if you are old friends.         It is not uncommon to find unique older homes; some even have large kitchen gardens that hearken back to the days when this entire ... 05/21/2008

  Whenever I hear talk in my RE/MAX office about an increase in activity of any kind I usually go immediately to our Multiple Listing Service to search for data that might substantiate a change in our market.  Such was the case today but unfortunately the numbers are not reflecting any perceptible change. Here is a snapshot of our inventory and recent sales which have yet to close compared to the past 4 quarters:   5/19/08 4/1/08 1/01/08 10/1/07 7/1/07 Active 1735 1668 1259 1351 1300 Contingent 16 15 17 20 23 Conditional 33 34 30 34 42 Pending 105 115 106 154 170         As you can see, our number of active listings is at an all time high of 1735 while the number of contingent and conditional sales have decreased since fall of 2007 but have remained fairly constant since January of this... 05/20/2008

  Most articles about Lake Norman real estate and even most Lake Norman area real estate websites focus primarily on the many wonderful subdivisions in our area.  However, these subdivisions do not reflect the majority of homes and neighborhoods along the shores of Lake Norman.  I would guess that more than half of the homes along the lake are NOT in large subdivisions and therefore offer an entirely different lifestyle many times overlooked by those relocating.     To understand this split-personality one needs to know a bit about our history.  Lake Norman is a result of Duke Energy's design to harness the power of the Catawba River.  In order to accomplish this feat Duke purchased all of the land that was to be flooded and that now borders the 520 miles of shoreline.        After the... 05/14/2008

The Race City Festival ˜A Celebration of Mooresville Arts & Culture   If you want to experience the essence of small town life in North Carolina,  there is nothing more fun for the whole family than a festival!  Formerly known as The Lake Norman Festival, Mooresville's  The Race City Festival is held in Historic Downtown Mooresville every May during NASCAR'S Race Week when hundreds of thousands of people converge on our racing communties for the two weekends of racing at our Lowes Motor Speedway.  Like so many festivals, there will be blocks of tents and booths featuring our local merchants, arts, crafts and culture of our community, church groups, civic and non-profit organizations, music, entertainment, an International Food Court, wineries and a special childrens area. It is such a ... 05/10/2008

 Luxury houses for sale in Mooresville NCTo View Luxury houses for sale in Mooresville NC, click here.For information on Luxury houses for sale in Mooresville NC contact Carolina Signature Realty 704-400-7000. 05/08/2008

Curtis Pond is large community with a rural feel in East Mooresville off Rocky River rd.  New Food Lion to open Summer 2008 will really enhance the community giving it added convienence.  Please take a look at 291 Glennallen dr which was build April 2007 and sellers had to relocate for job, so there loss but your gain.  This barely lived in home includes upgraded appliances, all 2" plantation blinds, garage door openers and more and you don't have to pay for it.  Please visit http://www.charlottehomeupdate.com/ for more info or send an e-mail to matt@CharlotteHomeUpdate.com if you wanting a more specific market analysis for a home anywhere around the Charlotte, NC area. Comparative Market Analysis   Property Type:   Single Family       Status:   Active SubjectProperty         #MLS#TypeA... 05/06/2008