Friday, April 30, 2010

117 Bayberry Creek Circle The Farms Mooresville

This home sold yesterday for $515,000. Orignally built in 2005 and sold for $700,134 in March of 2006. This 4341 sq foot home with outdoor fire place puts this home sale at $119 per sq foot. and was sold via short sale.
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Thursday, April 29, 2010

Actives-Pending for The Point thru April 27 2010

This is a chart of the number homes on the market in the respective price range vs Pending's in The point Lake and Golf Club in Mooresville (includes conditional and contingents). This is a good ratio to look at to check the imbalances in the market. As you can see from this chart the low end and the high end is where the action is at. The stuff in the middle is slower moving. What is really interesting is how much activity there is at the highest levels; if you have a 3 million plus home it's a great market to sell.
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The Point- Brawley School Road - Sold

This home located in The Point on Brawley School Road and on the 6th hole of the golf course with  view of Lake Norman just closed for $918,750. It's a three level home built by Helms Construction in 2004 with 6586 Square feet. The home originally sold at $1,149,000, then resold for $1,200.000 in 2006. It was listed in Sept 2009 at $1,400,000 and therein lies the rub; what value is a listing agent bringing to the seller by starting out at a price thats almost $500,000 off the mark. The value to the agent is he gets the listing and then walks the seller down in price. The disadvantage to the seller is a waste of valuable time. The sales price puts this at $141 per sq foot. In 2004 it sold at $174 per sq foot, in 2006 it sold at $182 psf. The tax value is $1,259,250. Congratulations to the buyer.
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Tuesday, April 27, 2010

Lake Norman Waterfront

This house.......this water....... for 950k......a lot directly across the cove in The Point (one of the best coves on Brawley Peninsula) is in the 9's.......just for the lot. Who wants to shop for a deal.
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Fitchburg Court Mooresville

This home originally sold in May 2007 for $707,230 closed today at $575,000. It's listed as having 4359 square feet so it sold at $132 per sq foot via short sale. It's tax value is $788,730. Great deal for a buyer, not so good for the bank. There's only a handful of sales in The Point over the last 8 years that get to the low 130's p/s/f. It was originally listed as a for sale by owner at a price that didn't reflect the current market at the time and it didn't get the action it needed to sell. The longer the home sits the less valuable they seem to become. For the home sellers out there understand your market and be realistic with your pricing and your home, if it's marketed well, will sell. To the buyers we continue to show people some great properties at great prices and they won't be around forever. Let us and our expertise on valuation help you make good decisions.
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The Point Waterfront Homes

This chart is comprised of the 157 waterfront homes sold in The Point Lake and golf club from 2002-2009 and the average prices paid per square foot. 2009 numbers are skewed by the fact that 3 homes sold for more than 3 million whereas only 7 homes in this time frame have ever sold for more than 3 million. If you pull those 3 homes out the average waterfront in the neighborhood for 2009 was $251 per sq foot. Email me if you want more details. This only includes data from the MLS service.
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current statistics for area 13 Lake Norman

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Monday, April 26, 2010

JJ Wasabi's in downtown Mooresville a.k.a. DoMo

if you're a fan of sushi then head on down to downtown Mooresville and check out the new restaurant now open called JJ Wasabi's. It is another creation of the popular Joel's Asian Grille on Williamson Rd. The menu offers up the same delicious treats as Joels in a great new setting on Main Street complete with sidewalk seating. We recently bumped into four other families we know enjoying the some sushi and japanese food in a new hip and cool location. When you get a chance check it out.
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for my deal hunters

this home built in 2001 by Lake Norman Signature Homes originally sold in March 2002 for $549,000. It was a resale in 2003 for $615,000. It was foreclosed in November 2009. It is currently offered at $517,500. It's listed in the tax records as having 3943 living space which at it's asking price brings it to $131 per sq ft, amongst the lowest per sq ft The point ever sees. Let me help you with this one and we'll need to bring a good inspector too as it is being sold by the bank in as-is condition.
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Friday, April 23, 2010

Activity in The Point

There is a nice uptick in real estate activity lately and I currently have 4 deals alone from this week I'm working on. The buyers are there and some sellers have been getting a little more realistic with their pricing in today's market. This is a chart that tracks 2007vs. 2010 and price per sq foot then vs now......

reports like this and with more details for any time frame, any neighborhood I can customize just for you. Give yourself more information if you are a buyer and especially a seller. Shoot me an email with your criteria wanted.
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1.76 acre LOT sold

This large lot on a cul-de sac in The Point sold for $80,000. It's list price was $118,965 and tax value $142,500.
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Thursday, April 22, 2010

122 Lynnfield Court

This home listed as having 5971 sq ft and on the 14th hole of the Point golf course with terrific waterviews sold today at $1,225,000. Originally listed in January 2009 at $1,699,000 it was sold at $205 per sq ft and it's latest listed price was $1,299,999. Bookmark and Share

Wednesday, April 21, 2010

132 Quaker Rd Mooresville sold

This home closed today for $1,276,200, listed as having 6,647 sq ft and 6 br. This house last sold in July 2008 for $1,625,000. It's latest sales price puts it at $192 per sq ft. It's on the golf course with a waterview.
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Engineers plans and drawings for the Brawley Widening project Bookmark and Share

DOT working to coordinate lights on Brawley School Road

From the Stateville Record

Press release

Published: April 21, 2010

The N.C. Department of Transportation is working to synchronize the timing of traffic signals on Brawley School Road at the intersections of Mallard Way and Morrison Plantation in Mooresville to help reduce the backups that have been occurring this week.

As of Tuesday afternoon signals were working. Crews will be on site in the morning should any problems arise.

The department encourages motorists to take the following steps to help alleviate overall congestion along this road:

• Car pool when possible

• Use this route only when necessary and during non-peak travel hours

Two sections of Brawley School Road are being widened from a two-lane highway to a four-lane divided highway to help alleviate congestion. The first section is being widened from Williamson Road to Talbert Road and is scheduled to be complete in the summer of 2011. The second section is being widened from Williamston Road to east of Winghaven Court and is scheduled to be complete in the summer of 2013.

Motorists and residents are encouraged to visit the project's Web site at  to find out general information about the project. Information about daily lane closures can be found under incidents on the project Web site or by visiting

NCDOT reminds motorists to watch signs for construction information, stay alert and obey the posted speed limit. Know before you go by calling 511, the department's free travel information line, or get real-time travel information on line. NCDOT also offers travel information for motorists and ferry passengers on Twitter.

For more information about this project, please contact the resident engineer at (704) 876-3543. Bookmark and Share

From DOT


Measures include increased law enforcement presence

CHARLOTTE – The N.C. Department of Transportation and the North Carolina State Highway Patrol are coordinating with local law enforcement and emergency responders to improve response times and reduce incidents along I-77 during the Brawley School Road widening project. Work is taking place between exits 33 (U.S. 21) and 36 (N.C. 150) in Mooresville.
Additional lane is being constructed in both directions. About one mile of concrete barrier has been placed on both sides of the interstate between the Brawley School Road interchange (Exit 35) to Exit 36 to allow crews to safely work behind.
The penalty for speeding in a work zone is $250.

Intermittent steps that have been taken include:

Increasing law enforcement presence in the work zone;

Securing additional portable signs to alert motorists of existing incidents in the work zone; and

Staging Incident Management Assistance Patrol vehicles in closer proximity to the work zone for a quicker response in the event of an accident.

Constructing temporary median crossovers for the State Highway Patrol and other emergency workers to use. Portions of guardrail at the project limits have been removed, and compacted stone will be placed in the median to allow emergency vehicle access.

Later this spring, additional crossovers will be constructed to provide further access for emergency personnel. These measures are expected to improve response times and incident clearance.

Construction began in November 2009 and is scheduled to be complete in July 2013.

Tips for staying safe if your car breaks down or you’re involved in an accident:

The Fender Bender law requires that vehicles involved in an accident and are still operational be moved, when possible, as far off the roadway until law enforcement arrives.

If possible, move the vehicles to the end of the barrier wall, out of the roadway.

If a vehicle becomes disabled where access to the shoulder is not possible, motorists should do the following:

Turn on the vehicle’s hazard lights;

Safely exit the vehicle to an area behind the barrier wall; and

Call *HP for assistance.

For more information on this project, please contact Resident Engineer John Cook at (704) 876-3543. Bookmark and Share

Tuesday, April 20, 2010

Boston Traffic

I recall the days my 16 mile commute to downtown Boston could take up to 2 hours and I would sit on the tobin bridge for 45 minutes or longer. I think Brawley School road is alot easier than that, how about NYC area traffic or LA traffic, Brawley is nothing. I guess with life here so great there's nothing else to complain about. Bookmark and Share

Brawley School Road traffic

leaving The Point at 6:30am this morning got you to Woodland heights traffic light in about 5 minutes. Bookmark and Share

Monday, April 19, 2010

Heathland under contract mooresville

This estate home in the Point offered at $3,399,000 went under conditional contract today. The home sits on one of the nicest lots in the Point with a western view and of Little Mountain. JP had acquired this land in a private sale for more than 1 million and built a beauty.
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Pine Mist Mooresville

Check out this home I have listed off Isle of Pines for only 409,900

Beautiful Full Brick Home w/ 3 Car Garage; meticulously maintained and decorated,neutral colors throughout; Master down-custom tile work; beautiful office w/ Cathedral ceiling, Gorgeous kitchen w/ upgrade SS appliances, tons of cabinets, keeping room,breakfast area,large bedrooms and bonus up. Prewired for security and surround sound.You will not be disappointed in this incredibly maintained home and priced at only about $122 per sq foot.
call me if you want to schedule a showing. Bookmark and Share

tough commute this morning

probably in my 6 years today may have been the worst. Let's hope they sync that new light at Mallard Head better. If you have to leave between 7-8am plan on atleast an hour. The good news is they are only about a year from completion and we've been complaining about this for the 6 years I've been here!! Car pool to the schools if you can or put the kids on the bus till this gets sorted out. Bookmark and Share

Sunday, April 18, 2010

10 Easy Ways to Boost Property Value

Here's a link to some good ideas to help you get your house sold:  click here
they include:

1. Paint the exterior
2. Complete all needed repairs
3. Purchase a home warranty
4. Furnish the home to sell
5. Upgrade front yard landscaping
6. Create a quick kitchen makeover
7. Think spa, not bathroom
8. Install soft and hard window treatments
9. Replace carpet rather than just cleaning
10. Don’t overlook your closets Bookmark and Share

Friday, April 16, 2010

119 E Cold Hollow Farms DR Mooresville

This home sold last week, located in the Farms, the selling price was $520,000 and sold at $136 per sq ft and was on the market since last June and 1st listed at $629,000.
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from the Charlotte Observer

Stretch of Iredell road to close for six months

By Joe Marusak
Posted: Friday, Apr. 16, 2010

The state will close Canvasback Road between Brawley School and Webbed Foot roads at 7 a.m. Saturday as part of the Brawley School Road widening project. The Canvasback stretch will remain closed until about Sept. 30. Motorists needing to access Canvasback should take Webbed Foot Road to Mallard Way and then back onto Canvasback, which will be open to local traffic. A temporary traffic signal has been installed at Mallard Way and Brawley School Road to help direct motorists around the closure. The closure is necessary to tie Canvasback and Brawley School roads into the new grade elevation as part of the widening of traffic-clogged Brawley School Road to four lanes.

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118 Chesterwood

This went pending yesterday, another builder foreclosure on the 17th fairway. Originally listed at $1,160,000 it's latest listing was a more reasonable 799,000. This was another house like Kent Ct built in 2007 that's been sitting for 3 years. When houses are priced right they sell, this shouldn't surprise anyone!! one tip on this one and the importance of local knowledge, watch out for the occasional pull-hook. Bookmark and Share

110 Kent Court....finally

This home originally priced above the market at $1,899,000 and on the water with a great view of hole 16 at the Point lake and golf club sold in foreclosure for $1,200,000 on April 15th. This was a new home and listed as having 5300 sq feet so it sold for $226 per sq ft., it has an unfinished basement, a big drawback for alot of buyers on this one was Duke won't allow a boatslip.
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Thursday, April 15, 2010

The Point foreclosure home sold in 7 days

This Dienst built home on the golf course at The Point in Mooresville has sold for the 4th time. Prior sales were:
Nov 2001=$630,000
Dec 2003 = $655,000
Sept 2006 = $755,000
April 2010 = $560,000

This house was listed for $566,800 ands went pending in 7 days! It's tax value is $758,060. This home if not "fire-saled" by BofA probably would sell closer to it's Dec 2003 price if not a little higher which would be reflective of the Case-Schiller index numbers for Charlotte.

There are still some "deal" houses out there and there are more to come on the market that are currently bank owned but not listed, some of these properties you need to move fast as alot of us agents have clients waiting and ready to buy. You need to have an agent that truly has local knowledge and understands values in this market such as myself. Call or email me if you have questions.

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Wednesday, April 14, 2010

Recent sales in The Point

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Brawley School road traffic?

What's up with Brawley traffic every year after school break, the traffic has increased dramatically for the last 3 years but it starts after spring break. Why?

You need to leave 15 minutes earlier than 2 weeks ago and this if the trend remains the same as the last 2 years it  will be like this until the end of the school year.

The commuters complain about the moms who drive their kids to school and the moms complain about the people who live down Brawley that need to commute in peak morning times? This should all be settled when the new road is done, which is coming along very nicely. Bookmark and Share

Friday, April 9, 2010

Interesting Housing Reads

Edward Glaeser: Why Your House’s Value (Probably) Won’t Rise (Economix) from NY Times

Fannie Mae National Housing Survey (Fannie Mae PDF) Bookmark and Share

Thursday, April 1, 2010

Ace Hardware on Brawley School Road

Another convenience for those who live down Brawley School Road, Ace Hardware wil be opening a new store in The Bloom shopping area.

The Brawley school road widening project is really coming along nicely, for the lake norman real estate buyers looking at homes in The Point and the other communities take advantage of the deals that are out there cause they won't last forever. That home at 465k in The Point I wrote about recently went conditional shortly after I mentioned it. I've seen some amazing deals for buyers and then again I've also had some buyers that either get way too picky on "deal" homes as investors or try to lowball prices when they really are already there. I had an investor who lost a home that he tried to get for 35k less than the already low-low price in fact 300k less than it sold for 3 years ago, bank rejected it and it sold at very close to what the bank wanted so someone got a great deal and my investor got nothing cause he got a little too greedy. We know the deals in The Point when we see them and will help you with proper valuation. Bookmark and Share