Friday, December 30, 2011

Tuesday, November 22, 2011

109 Lynnfield Court SOLD in The Point Lake and Golf Club

This Kingswood home built in 2004 with great curb appeal closed yesterday for $938,000. The home has 4854 square feet, so it's price per square is $193. The home is located near the par 3 15th green of The Point Lake and Golf Club. The last sale of this home was in June 2007 at $1,375.000 so yesterdays sale price represents a home value decline of 31%, whereas the Charlotte Case Shiller index over a comparable time frame only had fallen by 17%.
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The Point Lake and Golf Club - Would you Sell???

Would you sell your Point home if a buyer knocked on your door? I have buyers but not the right houses. If you would consider selling your home then get in touch with me. It will be our secret, I need some more pocket listings in The Point and just might have the perfect buyer for you.
704-996-4187 Bookmark and Share

Friday, November 4, 2011

Chateau Lyon on Lake Norman for sale  listed by Lake Norman Realty

Six years and 22 million to build can now be yours. In the prestigious gated Alexander Island, Mooresville on Lake Norman. Listed at $8 million.  click here for the observer article on the property

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Wednesday, November 2, 2011

Thursday, October 27, 2011

Trumps would buy home in Charlotte if golf course deal goes through

My sources are saying Trump buying the club probably a pretty good bet.

From Mecklenburg Times
It’s part of a company practice, Eric Trump says

By Deon Roberts, editor

Published: August 5, 2011

Donald Trump, or at least someone in his family, could have a Queen City address in the near future.
But it’s contingent on the Trumps going through with a purchase of a Mooresville golf course, his son Eric told The Mecklenburg Times this week.The Mooresville deal is still very much up in the air, like a golf ball that’s soaring high above the course, with no one knowing yet where it will land. A year ago, the Trump organization said it was eyeing a purchase of The Point Lake and Golf Club, an 18-hole course next to Lake Norman. The club’s equity members own the club, but Crescent Communities, a division of Charlotte-based Crescent Resources, controls it. Eric Trump, 27, who oversees golf course purchases for the Trump organization, told The Meck Times on Tuesday that his company is still interested in buying The Point. He did not provide an estimate as to when the deal might wrap up. “It’s way too premature to even talk about closing or even finishing a transaction,” he said. But if the Trumps buy The Point, they’d like to buy a Charlotte-area home, “something nearby,” he said, so that they would have a place to stay when checking on the course. “Historically, we have always bought residential real estate around our properties for our own private use,” he said.

Deon Roberts can be reached at Bookmark and Share

Wednesday, October 26, 2011

September 2011 New Home Sales

Data released today show new home sales increased 5.7% September vs a revised (-1%) August. Year over year new home sales were down .9% and median sales prices were down 10%, continuing the trend towards smaller more efficient homes. Bookmark and Share

Waterfront home for sale in The Harbour at The Pointe

click for virtual tour

Opportunity to own a waterfront home for under 1 million in an upscale neighborhood. If you are looking at homes in The Point around the million mark but not waterfront, do yourself a favor and check out this property in The Harbour in The Pointe. Over time homes depreciate, it's the land the homes sit on that appreciates. Get on the water while you can for only $969,000 at 152 Sunrise Circle. Bookmark and Share

Tuesday, October 25, 2011

Lake Norman High School soccer

Lke Norman High boys soccer, ranked 5th in the state lost yesterday to Hough 2-1.

read the Charlotte Observer article Bookmark and Share

Relief in sight for Curtis Pond roadwork

Residents of one of Mooresville’s largest subdivisions -- Curtis Pond -- will finally see construction of unfinished streets and sidewalks after two years of waiting.

click to read Mooresville Tribune article Bookmark and Share

Home Prices in U.S. Cities Fall More-Than-Forecast 3.8%, Case-Shiller Says

Forecast was for a down 3.5% year over year. Nationwide housing prices are down 31% from the 2006 peak. Click to view the Bloomberg article ..... Bookmark and Share

Monday, October 3, 2011

Lake Norman Live Web Cam

This is a nice live view webcam of Lake Norman from Queens Landing in Mooresville NC. Lady of the Lake and the Catawba Queen are the boats in view, which are great for sightseeing or an evening dinner cruise. Queens Landing has quite a bit to offer including a restaurant and bar, indoors and outdoors.  Also you can rent a boat or jet-skis here and they also have a miniature golf course. Be sure to visit when you are looking at Lake Norman for your next home. Bookmark and Share

Friday, September 30, 2011

Lake Norman's most exclusive homes

There are currently 15 homes for sale on Lake Norman priced over $2.5 million. Click here to see these exclusive estates. Bookmark and Share founder gives up on own listing, hires real estate broker

oh the irony....

Founder and former CEO of, Colby Sambrotto listed his 2,000 square foot New York condominium on his own through online classified ads and FSBO sites, but after six months, he opted to hire New York broker Jesse Buckler who immediately advised a price change as the listing was not attracting the right buyer.
After giving up on the DIY route, Sambrotto’s decision to hire a broker led to attracting multiple offers, closing for $150,000 over the original asking price. The Wall Street Journal reports the listing sold for $2.15 million including a 6% commission. READ MORE Bookmark and Share

Friday, September 16, 2011

Mazeppa Road Park Mooresville Baseball and Soccer Fields

address is:
645 Mazeppa Road
Mooresville, NC 28115

click for google map of Mazeppa Park- interested in Mooresville Real Estate use this website and use me as your realtor. We find the best deals for our clients.

Mazeppa Road Park
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Thursday, September 8, 2011

Cash Buyers at The Point

A quick note as I'm doing some research for a buyer who's about to make an offer. Of the 12 homes that have sold at The Point in 2011, 4 have been cash sales or 1/3 of sales. Pretty reflective percentage of the market at-large. Rates are at all time lows and more people than ever are paying cash for house, opting for no mortgage. I think that reflects a psyche change in America and is part of big trend to return to normalcy vs the cash out refinance and using home equity lines of credit to fund lifestyles. I talk to alot of cash buyers as well as alot of rightsizers, not upsizers. Bookmark and Share

More Home Builders Struggle to Stay Afloat

Daily Real Estate News

Wednesday, September 07, 2011

Sales of new homes this year are on pace to reach the lowest level on record. After peaking in 2005 at 1.3 million units, the annual rate was 298,000 units in July. New home builders are struggling to compete against existing homes and foreclosures that are selling for big discounts — a struggle that is now going on nearly five years in some markets. Some builders are keeping business afloat by pulling back on land purchases to conserve money as well as drastically reducing their staff.

Other builders — such as Toll Brothers, known as a major builder of "McMansions" — are looking to new ventures, like expanding into urban areas by building condos, a stronger area of growth nowadays. And some builders are offering more of a diverse mix of homes to try to appeal to the largest pool of buyers.
"The market is not deep enough or big enough to support all the builders," Alex Barron, an analyst with the Housing Research Center, told The Wall Street Journal. "There needs to be some consolidation. I don't think that means [mergers or acquisitions]. I just think that means there has to be a shakeout."

Source: “Some Home Builders Run Out of Lifelines,” The Wall Street Journal (Aug. 31, 2011) Bookmark and Share

Coming loan changes could squeeze high-priced home markets

Time is short for some buyers and owners of more expensive homes to get the best terms on mortgage loans.
Starting Oct. 1, Fannie Mae and Freddie Mac will cut the size of loans they buy from lenders. That will force many future borrowers into more expensive and harder-to-get jumbo loans.

The Freddie and Fannie limits, which are generally $417,000 for single-family homes nationwide, were raised in 2008 in some high-cost housing markets to stimulate the economy. In many areas, the limits rose to $729,750 and next month they'll fall to $625,500. Limits will drop more sharply in some areas and less in others.
Major lenders, including Bank of America, Wells Fargo and JPMorgan Chase, have stopped taking new applications for affected loans so that those in process close by the deadline.

continue reading article at USA TODAY Bookmark and Share

Friday, September 2, 2011

Mazeppa Road Park Mooresville

Great new park with baseball/softball and soccer fields in Mooresville grand opening this weekend.

Mooresville Recreation Department is hosting a Grand Opening Celebration for Mazeppa Road Park, 645 Mazeppa Road, on Saturday, September 3 from 10 a.m. – 1 p.m. Activities include a softball tournament, soccer clinics, fitness demonstrations and more. A ribbon cutting ceremony will occur at 10:30 a.m. For more information, call 704-663-7026.

click here for the park layout Bookmark and Share

Thursday, August 25, 2011

Brawley School Road Rocks

This morning Brawley School Road officially opened and the widening has accomplished what many of us thought was traffic! I mean NO TRAFFIC, it was awesome and we are now free. I feel like driving up and down Brawley 'cause I can. I got my car washed, went to Dunkin Donuts and drove back to The Point. Something unheard of until today. So c'mon down buyers we have got some great deals on homes, get 'em while they last 'cause our market of buyers willing to relocate all the way down Brawley has now expanded. Thank You NC DOT and engineer John Cook, you did it.

This video is this morning's commute on Brawley School Road at 7:45 your heartout..... in the Ballantyne area, traffic in South Charlotte is awful. Now be careful not to speed. Bookmark and Share

Brawley School Road update

August 24, 2011. Southbound lanes on Brawley School Road are open and it feels good to have this new road. Bookmark and Share

Wednesday, August 24, 2011

Mooresville home sales data

Here's a comparison for the last 3 years of average prices per square foot for the town of Mooresville, NC. Click on the chart to view.

If you are thinking of buying or selling in the Mooresville area please let us help. I can be reached at 704-996-2744 or

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Home sales data for The Point Lake and Golf Club Mooresville

Below are a couple charts (click to expand) with median sales prices and average prices per square foot in The Point. The charts compare rolling 12 month periods ending in July 2009, 2010 and 2011. As you can see in the first chart, median prices peaked in June 2007 at just over 1 million and currently is at $845k.

The lower chart breaks down prices per square foot at different price points. One note concerning this chart at the high end is more sales at over 2.5 million have taken place in the last couple years than in prior years and with the small number of comparisons it's easy for this number to skew and distort real price trends. At the lower end a high number of distressed property sales skewed this number to the downside.

Let me know if you would like a custom chart with sales/price trends for any town, neighborhood or subdivision around the Charlotte area.You can email me at or call me at 704-996-2744. Let me help you with your real estate needs.
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Thursday, August 18, 2011

Wells Fargo Lowers Conforming Loan Limits

From Diana Olick at CNBC

The deadline for ending temporarily higher loan limits at Fannie Mae, Freddie Mac and the FHA is October 1st, but they are effectively ended now. A Wells Fargo spokesman confirms, "August 15th was the deadline for applications and rate locks for FHA and conventional conforming loans with balances above the limits we expect will be in place after September 30th."

The loan limits were raised by Congress in 2008 temporarily from $417,000 to $729,000 in the highest priced markets in order to help bring much-needed liquidity to the mortgage market after the sub-prime meltdown that sent investors fleeing. There has been heavy lobbying by the Realtors, mortgage bankers and home builders to extend the limits, but so far to no avail.

Even though the rule goes into effect on October 1st, all loans have to be funded, sold and shipped to the GSE's by then. Refi volume has been so high lately that it can take 45 days to do a loan, so lenders have to cut off in time.  Read More....

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Tuesday, August 9, 2011

Si Senor Mexican restaurant

Had a chance to have some lunch today at the recently opened Si Senor mexican restaurant in the old Cartucci's building on the plaza on Williamson Road and Brawley School Road and I'll give them two thumbs up. Fresh chips, salsa, and pico de gallo for starters, I had a tasty chicken burrito with rice and pico for $4.75. My 12 year old son had ACP and said wow, this chicken is good. Friendly waitstaff and comfortable seating. Next time back I'll have to give the margarita's a try.

here's a link to their website and menu Bookmark and Share

Brawley School Road update and coordinated traffic lights

again from a friend:
The DOT will end up spending somewhere between $75 and $80 million on this road upgrade. Included in this is a state-of-the-art Traffic Control System. All traffic lights are connected by fiber optic cable and will talk to one another through a ‘Time of Day Controller.’ Through a Master Server and a series of Subservient Servers (too technical for me), all traffic lights have equipment that will continually monitor the flow of traffic and will automatically adjust the timing of the traffic lights to keep traffic moving at the quickest pace possible, particularly during peak traffic periods (out in the morning and in, late afternoon).

The DOT has requested that drivers be a little patient at the intersection of Brawley School Road, Canvas Back and Oak Tree. There is a significant population down each of these adjacent roads that also needs to access Brawley School Road. The lights are programmed to handle the traffic at this intersection based upon timing studies and need. The lights will not be the problem; the amount of traffic flow from each direction at any given time will determine the timing of the lights.

The contractor on the I-77 side of Brawley has until November of 2013 to complete the road and the new Exit 35 on I-77. They are significantly ahead of schedule at this time. It is anticipated that the new Exit 35 will eliminate a lot of the traffic currently exiting onto Williamson Road from Exit 33. This upgrade will also ease congestion at the Brawley School Road/Williamson Road intersection.

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Monday, August 8, 2011

Brawley School Road update

got this report from a friend today:

I spoke with the DOT person responsible for the project this morning.  I was told Brawley School Road, the work on Williamson Road and the Brawley School Road/Williamson Road intersection back to Wendy’s will be complete and open on or around August 19th. The work on Morrison Plantation will take a little longer because it was added to the project late. 

Access to the school off Morrison will be available while that work gets finished.

Grass in the median is all we get unless the City of Mooresville or some other entity is willing to pay for some further landscaping.  There is no irrigation! The grass will be maintained by the DOT but not to lawn standards. The stone sections on the median at some intersections are for emergency vehicles only and will be marked as such.

The road will be cleaned up and thermo-plastic striping will be put down once the paving is complete. Traffic lights are being installed now. The DOT thanks you for your patience. It has been a difficult project particularly with the heavy traffic on Brawley that they needed to work around.  They sincerely hope the completion of this project will do a great deal to eliminate the congestion on Brawley and Williamson, particularly during peak usage! Bookmark and Share

Sunday, August 7, 2011

Crews resume search for man who went missing in Lake Norman

click for WCNC article Bookmark and Share

Mortgage Rates Reach Record Lows

from Realtor Mag.....

Mortgage Rates Reach Record Lows

Daily Real Estate News
Friday, August 05, 2011

Mortgage rates dropped sharply this week, possibly improving the purchasing power of many home buyers. The 30-year fixed-rate mortgage, the most popular choice among buyers, averaged 4.39 percent this week, its lowest average for 2011, Freddie Mac reported in its weekly mortgage market survey. The 15-year fixed-rate mortgage and the 5-year adjustable rate-mortgage also both reached new historical record lows. Bookmark and Share

Saturday, August 6, 2011

139 Broad Sound waterfront home in The Point SOLD

This modern waterfront room with 4750 square feet closed for $1,150,000 or $242 per square foot. The home was listed at $1,299,000 and the tax value is $1,163,840.

The listing agents remarks on the listing sheet were:
Awesome Waterfront Home in The Point architecturally designed for water views. Gourmet Kitchen w/ 4 piece Crown, Viking Appliances & Sub-Zero Wine Fridge. Hardwoods throughout w/ 2nd Living on LL. billiards, Exercise Rm LL w/ 4th Garage Heated and Cooled! Approved for Pool w/ Boat Slip available 100 yards from home

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163 Easton Dr The Point Lake and Golf Club SOLD

This is a great waterfront house in The Village that sold for $1,180,000 or $222 per square foot. These are the agent remarks on the listing sheet......Amazing $$ on this European inspired Home in 'The Village'.Nestled amoung the trees and flowers with BIG waterfront view and private pier.  Open floor plan with HUGE kitchen, Cherry Cabinets, 5 burner Decor Cooktop, Dacor Dbl Ovens, Built-in Sub-Zero Frig and Separage Freezer,2 dish washers, 2 beverage Coolers and Ice Maker.An entertainers dream. Too many features to mention.  Come and see!!
This home was listed at $1,375,000 and  it's tax value is $1,013,010

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104 Maddaket Loop in The Point Lake and Golf Club SOLD

3900 square feet, built in 2003 by Kingswood Homes. The sales price includes a full equity golf membership at The Point Lake and Golf Club currently $42,500, and a boat slip which is $22,500. This home closed on Thursday for $650,000 or $167 per square foot. In 2004 this home sold for $728,500 and it re-sold in 2006 at $815,000. So it's current value at a 20% discount to a 2006 print is in-line with national and regional trends in pricing. Current tax value is $751,330. It was listed at $699,900. Doris Nash of Ivester Jackson represented both buyer and seller.
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Mooresville Home sales

Sales of single family homes in Mooresville continue to be a bit softer than 2010. Year to date through August 4 2011 in the 28117 area code of Mooresville there have been 247 homes sold this year versus 292 homes last year. That's a decline of 15% and in line with national trends in real estate. Bookmark and Share

Wednesday, June 8, 2011

228 Freshwater in The Farms SOLD

This was a great deal on a foreclosure that I brought to a family relocating to Mooresville, NC. This home was built in 2004 by Zande builders, located in The Farms on 228 Freshwater was built as custom house and is one of only two waterfront lots that are in The Farms Community. The home with it's own private boat slip has 4637 square feet and I got it for $730,000 for my clients. This home had been on the market back at the peak in 2007 for $1,400,000. Was it ever worth $1.4, well no buyers thought so, but for $730k, it puts this at a price in the $150's per square foot. WOW. A waterfront lot, private boatslip, newer home, upscale development in the $150's per square. Not alot of those around, when you see them  act quickly.

 When the home inspector was out looking at the house for the buyer he turned to me and said "how do you find all these great houses at these prices". That's a pretty good compliment! He had seen another house I brought a buyer to the week before. If you are relocating to this area around Brawley School Road, please use a realtor that lives here and if this blog helps you gain local knowledge then please use me. I relocated in 2004 from Boston to The Point, have 3 kids at 3 different schools, play tennis and golf, I am on the ACC committee at The Point as well as PTO board at Woodlands Heights Elementary, so I have alot of local knowledge to help you make more informed choices.

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Charlotte Housing Market May 2011

Thought I would make a quick observation about our local housing market Charlotte, NC. These are the numbers from CMLS system for total homes sold for the month of May over the last 4 years:

2011 - 1638 homes sold
2010 - 2150
2009 - 1668
2008 - 2445

So the market activity is down 24% from last year and even to slightly lower than May 2009 when the economy was just past the brink of collapse and the Dow Jones had just touched under 7000. With lower activity comes lower prices. If you are a seller needing to sell, be realistic. If you are a seller hanging on to a price thats unrealistic then you are helping someone else sell their house as your's gets used as a reference and makes another house price more appealing. Bookmark and Share

107 Squam Ct The Point SOLD

This waterfront home for sale in The Point Lake and Golf Club closed on Monday for $1,053,000. It was originally listed last June at $1,249,000. The home built by Arcadia builders in 2005 is 3874 square feet which converts to a price per square foot at $272. Tax Value is $1,024,260.
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164 Polpis Rd in The Point sold

This waterfront home for sale in The Point on Polpis Rd closed yesterday for $1,310,000. The home sitting on just under an acre is 5666 square feet, putting the price per square foot at $231.
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Wednesday, May 18, 2011

Nouriel Roubini recent comments on housing markets

According to my husband, the finance guy, Nouriel Roubini, chairman of Roubini Global Economics and a professor at New York University’s Stem School of Business, said last Wednesday during the SkyBridge Alternatives Conference (SALT Conference) in Las Vegas there's "huge slack" in the housing market still,  "This double dip in housing is just getting uglier," Bookmark and Share

Home sales update for Mooresville and Charlotte

Quick update on homes closed so far this month vs last year during May 1- May 17 period

28117 - 14 vs 25 in 2010  down 44%

28115 & 28117 - 23 vs 39 in 2010 down 41%

all Charlotte CMLS - 672 vs 915 down 27% Bookmark and Share

Tuesday, May 17, 2011

159 Waterford Dr Mooresville Sold

This home off Isle of Pine Road in the Pine Isle subdivision just closed for $315,000. Square footage is 2,735 and the home comes with two deeded boatslips and has waterviews. The home was a foreclosure and owned by Community Trust Bank out of Ashland, KY. This home was originally built in 1992. It was a re-sale in 2002 for $324,000. Then again a resale in 2006 at $435,000, again in 2007 at 469,900. The home was for sale again in 2008 at $515,000 withdrawn at $499,000 foreclosed on and put on the market in March at $349,900. The home was under contract at $340,000 yet it was appraised at $315,000 and the bank moved the price and got rid of inventory at $315,000.

The Point I bring up here is twofold first the home obviously wasn't worth $515,000 back in 2008 and the seller perhaps could have avoided foreclosure by being realistic about the pricing. I have had many listing appoinments where the sellers are unrealistic with their pricing and they end up hiring the realtor who in many cases comes in with an agreeable unrealistic price and the house doesn't sell or the realtor kepps walking them down in price. I also have had appoinments where I will not take the listing because the seller is unrealistic and for me I don't want to risk my reputation. It's sad to see so many homes lost to banks when those same homes priced right could have sold. The second point I bring up is appaisals are coming in at realistic prices. If you are planning to put your house on the market think about a professional appraisal, it might not agree with what you think your house is worth but I've been agreeing with more appraisers, not homeowners lately.

On the other hand I currently have two foreclosures under contract that are awesome deals for my buyers. In fact, the home inspector I used after conducting a 6 hour inspection, said to me "wow, where do you find these homes" what a deal. That's what I do for my buyers we find the right house at the right price. I refuse for my buyers to overpay.
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Wednesday, May 11, 2011

The Point Sales information

If you are looking for data on homes for sale or homes sold look no further than this blog. Scroll down and on the right hand side you will find the "search" bar, making this site more navigable to your needs. So, if you want thepoint sales data you found the right place. I have been blogging about real estate for three years and have been a resident of The Point for more than seven years. Bookmark and Share

Thursday, May 5, 2011

Home Sales in The Point

Sales activity in The Point has slowed through May 4, 2011 versus the same time frame last year. On CMLS there have been 11 homes closed vs 18 homes last year.

According to a report on MSNBC by Clear Capital (click here for it) prices nationally have officially double dipped and are below the previous trough seen in 2009. The good news is Charlotte was the best performing major metro market with prices only down -1.4% quarter over quarter, although year over year prices slipped -5.1%. REO homes continue to weigh locally and nationally on prices and foreclosure properties are at an all time high. The pipeline of homes in the foreclosure process along with the number of homes that are 90+ days delinquent is 45 times the size of the current monthly foreclosure sales number, which is 34.5% of all sales. So it remains a buyers market for the forseeable future and I have found some great buys recently for my customers.

If you are selling your home; being realistic in your pricing is very important, if you price your home too high, odds are you will not get alot of showings and your home gets used to sell other properties because buyers see the value elsewhere. Listing agents with alot of listings might even use this tactic. When I am representing buyers I make them very aware of valuations and we stay away from homes priced unrealistically in today's market. Bookmark and Share

Tuesday, May 3, 2011

Here's a great home for sale in The Point on Great Point Drive

I don't think this one will last too long being a short sale and priced are some details; One of a kind estate for family fun and entertaining. Tuscan themed home has it all. Massive gourmet kitchen, soaring entry & living room, stone fireplace, lake level with kitchen, theatre area, pool room & wine cellar. Roman style pool & spa, outdoor bar & seating areas, outdoor plasma TV, built in grill & brick pizza oven. Golf Course & Waterview and for the man that has everything.... a urinal in the downstairs bath.

 call me if you want to see it...MLS 2012369 listed by Keller Williams

click to view Bookmark and Share

138 Brick Kiln Way The Point SOLD

This 7487 square foot waterfront estate home in the Point Lake and Golf Club closed today for $2,050,000 putting it's price per square at $273. This home with a European  influence and it's own private dock includes an infinity pool and spa and it's own wine cellar.This home listed by the Francis team at Keller Williams had been on and off the market since 2006 and originally had listed it at $2,625,000. Michele Burton also in my Keller Williams office brought the buyer. It's latest list price was $2,250,000 representing a sale to list price of 91% and of the original price 78%.

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Friday, April 15, 2011

114 Mayfair Rd in The Point Lake and Golf Club Sold

This 2005 Zande built home with 3600 square feet closed for $540,000 or $150 per square foot including boat slip. The home first sold in 2006 for $665,999. Rose Miller of Coldwell Banker was the listing agent and The Francis Team at Keller Williams represented the buyers.
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135 Falmouth Road The Point SOLD

This waterfront "estate" home located in the Village neighborhood of The Point Lake and Golf club closed for $2,210,000. Built by Dienst builders in 2000, the last sale in 2003 was at $3,125,000. Tax value is $2,160,410 in 2011 down from $2,599,400 in 2010. The listing sheet shows the square footage at 8372 feet, which puts the sale at $263 per sq foot.

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Saturday, April 2, 2011

152 Old Post waterview lot with deeded boat slip sold

This .76 acre lot located in the popular village neighborhood of The Point sold recently, listed by Christy Allen Keller Williams in December for $150,000 the selling price was $145,000. Tax value is $76,000. Bookmark and Share

111 Marbury Court Waterfront lot in The Point sold

This 1.50 acre waterfront lot ((no dock)on the 11th hole of The Point Lake and Gold Club closed recently for $180,000. Originally listed at $249,900 by the Francis Team Keller Williams in Feb 2010, Crescent Realty brought the buyer. Tax value is $390,000. This lot in 2005 sold for $304,500. There are some good deals for buyers so take advantage, but do your homework. Bookmark and Share

Thursday, March 31, 2011

Hopkinton Dr Sconset village Lot SOLD

A .69 acre in the gated Sconset Village in The Point Lake and Golf Club closed today for $40,000.......not a typo....... tax value is $112,500. On the market for $54,900. It's tough moving dirt these days as you can see by the pricing compared to the bubble pricing years 2006-2007. Bookmark and Share

America's Dreams Park Groundbreaking

Groundbreaking for Americas Park will take place April 11, 2011 on Rankin Hill Road at 10:00am and is open to the public. Bookmark and Share

Wednesday, March 30, 2011

Americas Dreams Park in Mooresville update

Expected the summer of 2012 Americas Dreams Park in Mooresville is expected to be the largest baseball park in the country. I'm hoping Ranken Hill Road gets paved soon so construction can start. Here are some highlights from last months Iredell Public Hearing on this issue:

Consideration of a Request to Seek Road Improvements for SR 1311 – Rankin Hill
Road: Assistant County Manager Ron Smith said America’s Dream Park, a youth baseball
facility, had purchased 170 acres off of the Rankin Hill Road. He said that due to the project’s
positive economic impact an effort was being made to seek assistance from the NC Department
of Transportation in moving the graveled roadway up on the 2010-11 Secondary Roads Paving
Program. Smith said the state required that a public hearing be held for this type of request
along with the adoption of a resolution.Robby Carney, the Interim Executive Director of the Mooresville-South IredellEconomic Development Corporation, said the retail, hospitality, and service industries had suffered through the economic slowdown, and the America’s Dream Park project would provide a positive impact. He said 80,000+ visitors were anticipated, per year, with the usage of 100,000 bed nights in area hotels. Carney said 20 full-time workers would be employed at the park along with 500 part-time employees. He said the property tax impact alone would be $70,000 a year
for the county, and the sales tax revenue was estimated at $300,000. Carney said the park was
proposed to open during the summer of 2012.
WHEREAS, America’s Dream Park LLC has purchased 170 acres of land off of SR-1311 Rankin
Hill Road in Mooresville, North Carolina, to build a youth baseball facility; and WHEREAS, this youth baseball facility will be the largest complex of this type in the United States, and WHEREAS, area businesses, hotels and motels, restaurants, and other food service industries, will greatly benefit as it is estimated that over $80 million a year will be generated by the youth baseball complex; and
WHEREAS, it is estimated that 80,000 players, coaches and family members will travel each year
on SR-1311 - Rankin Hill Road during the summer months to participate or attend events at the
America’s Dream Park; and WHEREAS, SR-1311 - Rankin Hill Road is a partially unpaved gravel roadway that serves as a connector between Cornelius Road to the south and Fern Hill road to the north; and WHEREAS, there are concerns that SR-1311 – Rankin Hill Road, in its present condition, will have a detrimental effect not only on properties neighboring the park site, but to the area as a whole in the form of traffic congestion. NOW, THEREFORE, BE IT RESOLVED, that the Iredell County Board of Commissioners requests the North Carolina Board of Transportation to move SR-1311 – Rankin Hill Road up on the priority road paving list and for it to be included in the 2010-11 Secondary Roads Paving Program due to the significant economic importance of the America’s Dream Park Project.

Think owning rental homes on Lake Norman might be a smart thing and a market about to change?  Call me to show you some interesting properties that fits the need of summertime weekly rentals. Bookmark and Share

110 N Longfellow Lane SOLD in The Point

This custom built Dienst home built in 2004 just closed for $1,675,000. It's latest list price was $1,750,000. This waterfront home in The Point Lake and Golf Club with 236 feet of shoreline, private dock and 7068 square feet sold at $237 per square foot. Sitting on 1.09 acres, the lot originally sold in 2004 for $343,500. Prudential Realty was the listing agent and Keller Williams Cornelius office represented the buyer. Great house for a great price in a great village in The Point. The 2011 Tax Value is $1,528,980. Wish I had brought the buyer, I could have introduced you to all your new neighbors and let you know who's who. Buyers keep me in mind to represent you if you are buying in The Point as this is my home neighborhood and being on ACC committee, former advisory board of governors, PTA board etc..I have alot of information others brokers/agents don't have 'cause they don't live here. If you're a buyer and use this website as a resource to understand values be aware that Iredell county reassessed in February 2011 and the majority of homes in The Point now have lower tax values than 2010 and many listing sheets still contain the 2010 numbers. My own home in The Point was valued 10% less this year vs last year.
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Tuesday, March 29, 2011

Case Shiller: Dismal Start to Home Prices

The Big Picture blog had an interesting read on the state of the real estate market;

January 2011: “The 10-City Composite was down 2.0% and the 20-City Composite fell 3.1% from their January 2010 levels.”

"What we have yet to erase is the excess speculation from the 2002 to 07 mania. Until that gets wrung out of the market, I doubt you will see a healthy Real Estate sector. That will only take place through a combination of lower prices, better holders and the elapsing of time"

click for more
As we know here with home sales in The Point and other areas around Lake Norman, it's a great time to be a buyer and buyers are being picky. So for sellers pricing your home right and sprucing it up to show it at it's best is important. Bookmark and Share

Monday, March 28, 2011

132 Great Point Drive SOLD The Point Lake and Golf Club

This home on the 5th hole of the Point Golf Course with 6423 square feet sold recently for $840,000 or $131 per square foot. The price includes a boat slip and sports equity membership at The Point. Tax value is $864,690. The home was built by David Dibble in 2001.  The home originally closed in April 2001 for $790,000. A great house for a really great price.
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124 Milford Circle The Point SOLD

This home on Milford Circle with 5530 square feet built in 2006 closed for $820,000 or $148 per square foot. The home originally sold for $894,500 in 2006. My Keller Williams office represented the sellers and Prudential Carolinas Realty in Huntersville represented the buyers. Tax Value is $936,840.
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Thursday, March 24, 2011

Why Housing Is Going Through a Double Dip

click here to link to this post by Diana Olick on the state of the housing market.

This is a GREAT time to be a BUYER, make sure your not overpaying because it might not appraise. Use this site to help determine and compare values and call me if you need help or a second or third opinion.

Nationwide new housing inventory prices should come down because there currently is a 40% premium to existing homes where normally it's a 15% premium, so expect new homes sitting to get several price cuts. Bookmark and Share

What happens to home values if you live near a nuclear reactor?

Here's an interesting article from Reuters about homes prices near Nuclear plants following Three Mile Island incident and other natural disasters and that homes prices fell further in the surrounding area to Three Mile Island than other areas for three years after the incident. The article also states that trends do not show up overnight. It will be interesting if there is any psychological effect to buyers moving here from out of state and don't want to be near a nuclear plant such as McGuire Nuclear Station on Lake Norman.


Thursday, March 10, 2011

Home sales activity in The Point

Things are still a little slower than last year in terms of homes closing as we've seen 3 year to date through yesterday vs 7 last year just looking at The Point's home sales. Hope things pick up!!

Yesterday I closed on a home that I brought the buyers to located outside the Point, what a great house and a great deal I got for my buyer who is moving here from out of state. Congratulations!! Currently I am working on 2 other contracts. I have quite a few buyers but the buyers are smart and they know it is a buyers market and they aren't overpaying.

To the sellers if you price your house right and it's clean and shows well, it will sell. Your listing agent gets it on the MLS system and then it automatically feeds to other websites. Essentially the listing agent just unlocks the door to a home for sale. A buyers agent,  in 90% and more of the cases will bring the buyer. If you overprice it in this market you're just fooling yourself. Pricing it right means to do your research on what similar houses have sold for not what they list for and to think outside of your emotion and to think like a buyer of your home and what would you really pay after you've done your homework. What did you originally pay and what has the local housing market done over the same time frame, this is easy research for us. We understand housing and land values and realistically it's the land that holds the value and appreciates as the home itself either depreciates or can only rise relative to new building costs etc., especially in an area where there is alot of land available for sale.

 Don't be lulled by the listing agents presentation and the high price you'll be able to sell your house for because they have the buyers.......if they had the buyers they would sell the inventory of homes they already have. Hmm!! Bookmark and Share

Home in The Point Sold 104 Wild Harbor Rd

This home originally listed at $750,000 recently sold for $690,000 or $142 per square foot. Listed last June the home sits on .82 acres originally purchased in 1999 for $87,000. The home was built by Zande builders and the tax value was  $773,530.
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The Point - 160 Torrence Chapel Road Sold

This home for sale in The Point Lake and Golf Club closed earlier this week for $591,500 or at $145 per sq foot. The home built in 2004 by Zande Builders was once on the market in the summer of 2007 listed at $869,000. The home was put back on the market in November 2009 for $699,000. The home was originally purchased in December 2004 for $567,000 or $140 per square feet from the builder. The lot was originally purchased by Zande builders in 2004 for $52,500 and is a nice large, flat lot of 1.11 acres.

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Thursday, February 3, 2011

132 Cedar Bluff Mooresville SOLD

This  6,459 square foot waterfront home built in 2001 and located in The Harbour at The Point closed in Mid-January for $910,000 or $141 per square foot. Originally listed in 2007 at the top of the market for $1,475,000. $141 per square foot for decent waterfront is an amazing price and this type of price will look really inexpensive years down the road. Current tax value is $1,167,930
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190 Cape Cod Way The Point Mooresville

This 6387 square foot waterfront home listed at $1,599,000 closed for $1,400,000. Built in 2003 by builder Doc Dibble, the home with great curb appeal sits close to the 14th hole and in one the bigger coves if you live in The Point. One caveat with this waterfront home and maybe why it only sold at $219 per square foot is it doesn't have it's own boat slip, although only a short walk on a backyard boardwalk to it's deeded boat slip. This home last sold in February 2007 near the top in real estate prices for $1,700,000. The change in price of -18% is a bit more that the -12.1% decline in the Case-Schiller Charlotte area home sales price data over the same time frame.
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Wednesday, January 26, 2011

Brawley School Road update

According to this article in today's Charlotte Observer, Brawley School road is still expected to be finished July 1. Click here for the full article Bookmark and Share

Trump and The Point

Still some active negotiations going on between parties. Post some comments here? What are your thoughts? Bookmark and Share

Epic Chophouse restaurant downtown Mooresville

If you haven't had a chance to get to the newly opened Epic Chophouse in downtown Mooresville, I highly recommend it. The Chophouse is located where Soiree had been. The menu is american fare, steaks, chicken, pasta, seafood, but has a high end steak restaurant feel to it. I have eaten there several times now and think it's great. They have the right formula; charging prices that are reasonable for the area while providing an upscale feel. For example a 12oz Filet Mignon for $25.95 or a wedge salad for $4.95 price-wise competes with the Outback type restaurants but food- wise the Chophouse competes more the likes of Morton's, or Capital Grille. I suggest you try it if you haven't already. Also, love the new sign, great look for downtown Mooresville. Epic Chophouse menu.

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128 Stormy Pointe Mooresville sold

This waterfront home in The Harbour at the Point recently closed for $765,000. The home with 4326 square feet sold at $177 per foot. Great price and great water. The home last sold in 2005 for $920,100. Prior to that the home sold for $915,000 in 2004. Tax value is $923,830.


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155 LAKE MIST Mooresville Sold

This lovely home located in The Harbour at The Point Closed for $375,000. The home with 2998 square feet sold for $125 per foot, which also included a boat slip as well as 3,000 in closing costs. Originally listed at $449,500 last July, the home had 4 price reductions down to $410,000. Current tax value is $383,550. This homes prior sale occured back in 2002 for $326,000 or $108 per foot.

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Case Schiller Index

The Case-Shiller Home Price Index fell 0.5% in November marking the fifth consecutive monthly price decline following gains in the each of the three months of the second quarter.  On a year-over-year basis, the index has declined 1.6% in November after a 0.8% drop in October. Details show that 19 out of the 20 metro areas posted lower home prices in November 2010 vs. October 2010.  On a year-to-year basis, only four metro areas (San Diego, Los Angeles, San Francisco, and Washington DC) posted gains.  More importantly, prices of homes in seven metro areas (Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Miami, Portland, Seattle, and Tampa) posted new lows for home prices since their peaks in 2006 and 2007. 
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Monday, January 3, 2011

2010 Real estate review for 28117 zip code

2010 sales were up very nicely at a 20% increase over 2009 at 454 homes sold vs 378 for zip code 28117.
The average price upticked to $470,061 vs $464,000 as well as the median price moved up to $365,000 vs $350,000 in 2009. Although it took a bit longer to sell your home in 2010 at an average days on market of 151 vs only 86 in 2009. The average price per square foot also edged higher to $139 vs $132. Distressed properties accounted for 24% of 110 homes. Also of note is my team at Keller Williams Lake Norman Mooresville had the biggest market share with 84 homes listed and sold or just under 1 of every 5 homes in 28117. Bookmark and Share

2010 Real estate sales review for The Farms

2010 saw a flat year for total sales in The Farms at 25 homes sold vs 25 homes sold in 2009.

- The average price in 2010 was $519,182 vs $590,217 in 2009
- Average price per square foot of $134 vs $146 in 2009 a decrease of 8%
- Average days on market was 174 days vs 140 in 2009 an increase of 24%
- No resale home sold for more than it's listed tax value and sold on average at $128,161 less Bookmark and Share

2010 Real estate sales review for The Point Lake and Golf Club

Total sales at The Point Lake and Golf Club were up nicely in 2010 to 52 homes sold vs 40 for 2009.

Some of the details are:

- Average price $1,082,602 or $195 per square foot vs 2009 average price 1,207,540 or $216 per sq.
- Avg pps under 1 million $150 vs 2009 pps $159 a decrease of 6%
- Avg pps 1 - 2 million $220 vs 2009 pps $235 a decrease of 6%
- Avg pps over 2 million $386 vs $399 a decrease of 3%

other interesting facts:
- only 12 homes (23%) sold for more than tax value vs in 2009 19 homes or 48% sold over tax value
- 10 homes (20%) were purchased for cash vs 5 homes (13%) in '09
- 16 homes were distressed properties or 31% of the sales
- a minimum 3 homes sold and 3 homes purchased were by sellers trading down in price in their real estate Bookmark and Share