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

Trump and The Point

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

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.

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.

  

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.

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. 

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.

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.

Details:
- 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

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