The Point waterfront lot sold today

The 1.3 acre Lot on Chatham Road in The Point sold today for $550,000. It's most recent asking price was $675,000 and had been reduced a couple times from an original asking price of $825,000. The lot is a waterfront lot and on the golf course.

Private Schools in Charlotte, NC

Charlotte Magazine recently wrote an article about "The Best Private School Programs" in The Charlotte area. Here's a link to the article.

They rank their top choice by various categories, some highlights are:

Band - Charlotte Catholic
Baseball -Charlotte Christian
Community Service Program - Charlotte United Christian Academy
International Studies - Providence Day School
Community Service Program - Charlotte Country Day
Men's and Women's Swimming Program - Charlotte Latin
Technology - Providence Day School
Science/Nature - Trinity Episcopal
Outdoor Education - Omni Montessori
Mock Trial - Charlotte Country Day
Men's Cross-Country - Providence Day
Football - Charlotte Latin
Women's Softball - Hickory Grove Baptist Christian
Learning Disabilities -The Fletcher School
Broadcasting - Charlotte Christian
Critical Thinking Program -Davidson Day School
Visual Arts - Providence Day
Mentorship -Charlotte Preparatory school
Learning Disabilities (Reading) - Dore Academy
English as a Second Language -Charlotte Country Day
Drama - Charlotte Christian

John Paulson calling for a V-shaped Housing recovery

John Paulson, the famed hedge fund manager known for making 15 billion dollars by betting the housing market was going to decline is speaking to his investors today and is now expecting that housing is in a V shape recovery and he expects housing prices to increase by 3-5% in 2010, followed by an increase of 8-12% in 2011.

The Point homes under contract

I had a customer ask me for a map of homes under contract. There are currently 22 homes in The Point under contract. This interactive map will provide you with details such as location, list price and the and prices per square foot. CLICK HERE

3 Million and up------ Lake Norman's most expensive home sales since 2002

click on this text for an interactive map

Curious which MILLION dollar Lake Norman homes have sold this year?

Click this text for an interactive map

The Point Golf course homes for sale as of May 5

click on this text for an interactive map of homes available and on the golf course within the Point Lake and golf Club

Mooresville to become home to 'Disney World of baseball'

Great news for baseball fans and especially my 10 year old who plays on the Lake Norman Wildcats travel baseball team.

By Megan Pillow

Mooresville Tribune

Published: May 5, 2010
Mooresville and NASCAR have been linked for years, but soon the town's name is going to be synonymous with another popular sport: youth baseball.Town commissioners announced Monday that a corporation affiliated with Cooperstown Dreams Park – a 22-field complex in New York often called the "crown jewel" of youth baseball, home to the American Youth Baseball Hall of Fame – has chosen Mooresville to be the site of an $18 million-$21 million, 25-field youth baseball tournament complex.The facility would be the largest of its kind in America, officials said."It's one of those deals that comes along once in a million years," said Commissioner Mitch Abraham.

The complex, to be called America's Park Mooresville – has been in the works since July 2009. To be built on approximately 111 acres off Rankin Hill Road on Mooresville's north side, the complex is scheduled for completion by summer 2012. It will bring in an estimated $35 million annually in tourism revenue during the 13-week height of its summer season alone and could be used by 95 to 103 teams per week for tournaments, officials said.
In addition to several hundred parking spaces and 24 standard ball fields, the project will feature a 4,000-6,000-seat stadium."This is the Disney World of baseball," said Commissioner Mac Herring.Commissioner Chris Carney said town officials were surprised to discover that Mooresville was a contender among other cities across the country which were also courting the project. But, said Carney, Mooresville had several things going for it.

To read the full verson of this article, see today's Mooresville Tribune.

great feature I just added

Click here to make this map interactive. These are The Point Home sales from last September to April 20, and provides some very nice information by clicking on the push-pins

This is a repost from March

This provides buyers and sellers in The Point with alot of good information as 2010 prices have remained around the same as 2009 but the level of activity has picked up.

2009 The Point Home Sales Statistics

We saw a total of 41 homes in The Point sold for all of 2009. Let's break down the pricing into 3 categories to see how the prices stack up (or down).




Homes sold Under 1 million:

21 homes sold for an average selling price per square foot of $160. Median square foot price was $162. Carving this into 3 categories of Distress sales which include short sales and/or foreclosures; New homes; and then resales we see the following trend;


Distress- 8 homes sold at an average of $149 per sq ft

New homes - 5 homes sold for an average of $158 per sq ft

Resale homes - 8 homes at an average of $175 per sq ft.



It's obvious that the Distressed sellers continue to put pressure on prices and that trend so far into 2010 is continuing. For the Buyers there are some great deals out there....take advantage of it!


on another note only 2 of these homes were sold above the Iredell county appraised value and the average selling price was 8% lower than the County's appraised value!! Hey, maybe it's time to apply for tax abatements!



The least expensive home sold was a tie between 2 homes in Sconset Village at $500,000. The size of these homes ranged from the smallest at 3,295 sq feet to the largest at 6,231 sq ft. The lowest selling price per sq ft was $130 and the highest was $207. That "backyard oasis" makes a difference in this category.

There were no waterfront homes sold under 1 million.


Homes Sold from 1 - 2 Million


14 Homes were sold in this price range and actually only 3 homes were sold at over 1.5 million and the other 11 at under 1.5 million. The average selling price per sq ft was $236. Markedly down from the glory days of 2006-2007 and Interest Only mortgages.



The breakdown: New vs Resale

New homes - 7 sold at average of $241 per square foot

Resale - 7 homes at average of $231 per sq foot



The breakdown; Water vs interior

Water - 10 homes at an average of $240 per sq ft

Interior - 4 homes at an average of $226 per sq


Waterfront ranged from a low of $187 per sq to a high of $285 per sq.


How "good" your waterfront lot really is made a difference in the selling price last year. Location, location, location.



Homes 2 million and up



4 homes in this category. one home sold at just slightly above 2 mil and the other 3 at over 3 million. The average selling price was $400 per sq ft. When these homes, which are all waterfront are added to the under 2 million waterfront it skews the averages a bit to the upside and these 3 million plus homes tend to be on lots that are the best in The Point so they belong in their own category. The most expensive home was at $512 per sq ft. There is waterfront and then there is WATERFRONT. In total The Point has had only a total of 8 homes ever sold north of 3 mil, with 2 of those over 4 million.

Keller Williams Mooresville is the top producing office!

Click on the picture have a look at the top 3 producing firms in Mooresville. It sure is nice being part of the top producing Real Estate office in Mooresville. The Keller Williams team of agents has almost 22% market share while second place is only 8%. Wow!! We've had 81 different agents delivering results so far. Way to go to the Keller Williams team! Think of Lake Norman Homes by Annie to help you with your real estate needs.

THANK YOU FOR YOUR BUSINESS!                 email ANNIE

Looks Like a Deal

This house in the Point is now being sold via short sale as of today. Tax records have the square footage as 6452 and tax appraisal of $1,007,990. It originally sold as a new home in 2007 for $1,315,000. The current price is now $925,000 which puts it at $143 per square foot, which for this home is a buyers deal and is 30% less than it's 2007 price. The home has a basement and a pool with Jacuzzi and most likely won't last at this price for very long so act quickly. Call me or email for details as I am very familiar with the home.

Lake Norman Homes sold comps vs last 4 years

This chart represents the number of homes sold for the 1st four months of the year back to 2006. The blue bar represents total homes sold and the red bar is total homes more than 1 million sold. This is for the Lake Norman area 13 sub area 2 which is the Brawley peninsula, The Langtree Peninsula and the 150 peninsula. It's nice to see tha market coming back this year as we have 92 sold vs 54 last year.

The Farms Community comps over last 4 years

Heres a look at the lkast 4 years over comparable time frames at prices per sq foot in The Farms. As you can see the average price since 2007 has dropped 20%.

 

The Farms under conditional contract continue to show

This nice looking home located in The Farms went under conditional contract yesterday. Listed at 499,000 it looks like this is priced at $134 per sq foot. According to Iredell county tax records it's listed as being 3718 sq feet and has a tax value of 579,930.

Recent updates to make this site easier to navigate

at the end of each post where it says "labels" if you click on it it will sort all of my posts to that category. So, for instance if you see "2010 Point home sales" it will give you only my posts related to that topic. Hope this site is useful to give you more knowledge and insight on pricing trends, and to know firsthand what just sold and at what price to help with your valuations, as well as to provide some insight into this area.

1785 Brawley School Road The Point Mooresville

This home sold yesterday for $530,000. Built in 2003, originally sold in 2004 for $555,000 it's listed  square footage is 3227, putting it's price at $164 per sq foot. This is inline with other properties on interior lots that have recently sold in The Point.

The tax value is $501,800 which makes this only the 3rd home since January 2009 and priced under 1.2 mil to sell for more than it's tax value in The Point. As a Realtor living in the neighborhood and really having a great understanding on valuations make me think the tax appraiser on this home was off and rightly so this home should have sold for more than the tax value listed. We tend to find the largest tax variations on waterfront lots, where the land can vary so significantly in price. People need to be careful using tax values as they can either be good or bad numbers. It takes alot of work to gather the data necessary and then to analyze those numbers to understand how and when they fit. I have worked with buyers who are insistent on using tax numbers and I have worked with sellers who are insistent on NOT using tax numbers. My job is to remove the emotions that a seller or a buyer may have and to help in putting values on properties as the market dictates. Sometimes the tax appraisals are good numbers and sometimes they are bad numbers, let my experience help you.

104 Morrows Ridge Lane The Harbour at The Point Mooresville Sold

This home in The Harbour sold yesterday for $328,000, listed sq footage is 2375 putting the sale at $138 per sq foot. Tax value is $357,150.

265 Milford Circle The Point

This home sold Monday for $1,235,000. It's listed sq footage is 4835 and is a waterfront home. It sold for $255 per sq foot which is encouraging given the fact that in 2009 the average waterfront home sold, that was priced under 2 million, was $240 per sq foot. Tax value is $1,427,230. It originally sold in November 2005 for 1.495m and was resold in 2008 for 1.35m.

Builder Magazine's annual top 20 healthiest real estate markets for 2010

The Charlotte area was noted as #3 in this magazine's annual list of the healthiest housing markets. Also of note is the Carolinas made 7 of the 20 spots. They say the job market in 2010 is expected to add 2% more jobs and the high household formation of the area make it attractive.
For the full article click here