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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