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Wednesday, July 22, 2009

Exit 32 is really Exit 31 and will open Aug 1st

Commuters wondering when the new I-77 interchange in Mt. Mourne will open, or maybe just when the roadwork will end, can mark Aug. 1 on their calendars.
The paving is finished, says N.C. Department of Transportation (NCDOT) engineer John Cook. The only work remaining at the new Langtree Road interchange is shoulder work, railing installation along the bridge, pavement markings and sign placement.
It all should be finished by Aug. 1.
"And when the covers come off those road signs," Cook added, "It might surprise some to learn that the exit mile marker number is actually 31, not 32" as local residents often refer to the future exit.
The paving has also been completed on the widening of I-77 between the future Exit 31 and the existing Exit 33 (Williamson Road), creating a third northbound and southbound lane.
If the sunny weather continues and the final inspection goes well, a $21 million construction project that's been underway for more than two years could be ending in less than two weeks.
Billed as a new gateway into Mooresville for northbound travelers on the interstate, Exit 31 also gives the thousands of Lowe's Companies, Inc. employees a new access to the interstate. Lowe's, headquartered on 300 acres northeast of exit 31, is building a southern entrance to tie into Langtree Road.
That entrance, the third for the Lowe's campus, is not part of the state-funded interchange project. Its completion, expected later this fall, does not affect when Exit 31 opens.
All four quadrants of the new Langtree Road interchange are slated to be part of the $800 million Langtree at the Lake development, which includes a hotel and conference center.
Langtree President Rick Howard says crews are close to breaking ground on the southwest quadrant, which will include office space, an upscale convenience market, a bank and a restaurant. Bookmark and Share

Wednesday, July 1, 2009

The Point Lake & Golf Club Sold through June 30 2009




Out of the 15 homes that closed so far this year, 5 were new homes, 5 were distressed or short sales, and 5 were normal resales. Surprising that this is exactly the same number of closings as last year at this time, compare that to the bubble period, the first half of 2007 we saw 44 homes sold 2006 it was 45, 2005 = 41; 2004 = 34; 2003 was 20, 2002 = 19, 2001 =19 So it looks like activity is back at levels that reflect more normal lending times such as 2002. It's interesting to look at pricing levels as the last sale at 112 Old Post was in 2003 at 585k, a sale at 137 Great point in 2003 was at 1,075m, 111 Stonewall sold in November 2002 for 883k, compare those prices to what they sold recently.
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Tuesday, June 30, 2009

Price your House right!!!!

Here's a comment from the great Wall Street Analyst David Rosenberg


"Not only is it extremely unlikely that we have seen the bottom in home prices until the unsold housing inventory drifts comfortably below 8 months’ supply, but the potential downside from here could easily be another 15% since that sort of decline would bring the Case-Shiller index back to its pre-bubble range in ‘real’ inflation-adjusted terms. (Home prices may well be all the way back to April 2003 levels but the mania in which home prices began to outstrip inflation by 10% or more started in 2000 so there is still, in my estimation, three years worth of bubble activity that has to come out of the system.) Green shoot advocates would undoubtedly point to the fact that this would suggest that we are now two-thirds through this real estate deflation cycle but not likely point out that the last third leg down will drain a further $3 trillion out of household net worth, with a commensurate $200 billion (or 2.0%) hit to consumer spending via the impact on the personal savings rate. "

If you want to sell your house; price it right, stop dreaming about top dollar, you missed it. It's value is less than last year and is probably closer to a 2004 price, thats what we see in our neighborhood. Bookmark and Share

Thursday, June 4, 2009

Road work to close parts of I-77, Brawley School Road

The southbound lane of Interstate 77 from mile markers 33 to 30 will be closed tonight as a contractor works on paving the left lane.

The N.C. Department of Transportation expects the lane to reopen Thursday at 6 a.m.
Brawley School Road will close one lane between Chuckwood and Southfork roads on Thursday and Friday from 9 a.m. to 3 p.m. One lane of Brawley School Road will be closed on Saturday from 9 a.m. to 3 p.m. near McKendree Road. Bookmark and Share

Wednesday, May 20, 2009

Widening of Brawley Highlights

Project Highlights
Sidewalks will be built on both sides.

Sharp curves along Brawley School Road will be improved.

The median will prohibit left turns into and out of individual properties along the project. Motorists will be prohibited from making left turns into and out of some of the intersecting roads with Brawley School Road. At these roads, motorists will be required to turn right onto Brawley School Road and proceed to the next intersection where they will be permitted to make a left turn with an allowable U-turn.

Traffic counts on Brawley School Road range from 7,800 to 31,900. Traffic counts are expected to reach 9,200 to 44,700 by 2030.

Two sections of Brawley School Road will be widened. Construction on the first section began the week of November 3, 2008. This 3.8-mile section is from south of Southfork Road to east of Williamson Road. Construction on the next section is anticipated to begin in Spring 2009. This section will be widened from Williamson Road to Talbert Road.
Lane closure restrictions are as follows:

Monday through Friday from 6 a.m. to 9 a.m. and 3 p.m. to 7 p.m. on Brawley School Road from South Fork Road to Blume Road

Monday through Saturday from 7 a.m. to 7 p.m. on Brawley School Road from Blume Road to Williamson Road

Monday through Saturday from 7 a.m. to 7 p.m. on Williamson Road

Completion Date: Summer of 2011
Estimated Cost: $25 million
Project Team: Rea Construction of Charlotte

John Cook - Resident Engineer
Phone: (704) 876-3543 Bookmark and Share

New Home Construction Reaches Record Lows While Sales Rebound : Move Trends Real Estate Blog - The Leader in Online Real Estate : Move Trends Real Estate Blog

New Home Construction Reaches Record Lows While Sales Rebound : Move Trends Real Estate Blog - The Leader in Online Real Estate : Move Trends Real Estate Blog Bookmark and Share

Wednesday, May 13, 2009

Have you been to Kerrigans Ice Cream store yet?

Although the Brawley traffic can be exhausting it is nice to see the incredible growth in this area and a great place to take a break is at Kerrigans ice cream, a family owned and operated neighborhood Ice Cream Parlor. They are located in the area next Family Video and Sebastano's on Brawley School Road. Kerrigan's offers an inviting atmosphere that is a throw back to the 1950's, complete with soda fountain decor, music from that era, and good, old-fashioned service. It's a great place to host a child's birthday party as well and the ice cream is yummy! The Petroski's have done a great job, plan to give them a visit if you haven't already. Bookmark and Share

One banks’s solution to the Housing Crisis and excess supply: Demolish the homes:

http://www.youtube.com/watch?v=ZsgOaCZ2Lag&feature=player_embedded Bookmark and Share

national median existing single-family price was $169,000, which is 13.8 percent below the first quarter of 2008

click on the link to read this article
http://www.realtor.org/press_room/news_releases/2009/05/metro_area Bookmark and Share

Wednesday, May 6, 2009

New Listing Away from Brawley School Traffic!!!!

123 Meandering Way~Lochmere

Wonderful home in a great family neighborhood; home boasts 4 bedrooms 2 & 1/2 baths, large upper master suite, lovely great room open to your private backyard. Walk to School of Excellence LKN Elementary and avoid all Brawley School Road traffic!! Very few homes for sale in this neighborhood!
$219,900
MLS# 855357
2,118 sq. ft.

Wonderful playing field and playground across the street!! Bookmark and Share

Tuesday, May 5, 2009

News on the Increased Traffic on Brawley School Road!!

Here is a quote from Natalie Kelly, Asst. VP for Brawley Middle School

"Here is todays data: Six buses arrived to school late. To avoid loss of instruction time, we used our new Late Bus schedule which adds time to first period.
Of the 940 Brawley students scheduled to be bus rider, 720 rode the bus.We had 169 car riders and 116 of these live in The Point area.

If we combined Woodland Heights and Brawley car rider data, the total for today is 538 car riders. These car riders created a Jam Density of 1.6 miles on Brawley School Road.

In on another words, if we line-up these cars bumper to bumper, this line stretched 1.6 miles. To quote James Lovell, Houston, we have a problem here. Fortunately, our problem is not life threatening like Apollo 13, but the huge concern for everyone is student learning and to do this we have to get our students to school on time.

The DOT engineer has confirmed the problem is not the traffic light timing. It is not construction. The problem is the recent increased in the volume traffic. Remember, there are 30,000 cars per day that travel this road."

what are your thoughts on the recent traffic jam? Bookmark and Share

Tuesday, April 28, 2009

Housing Price Charts


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Case-Schiller Index

U.S. home prices continued their multiyear slide in February, according to the S&P/Case-Shiller home-price indexes, but they did stop their 16-month streak of record declines.
Fifteen of 20 major metropolitan areas posted price declines of more than 10% from a year earlier with the Sun Belt continuing to be hit hardest. Nationally, home prices are at levels similar to the third quarter of 2003. Charlotte prices are down 9.3% year over year but more interesting is that over the last 6 months the index for Charlotte is down 10%. Our area was one of the last to fall (peak in prices was August 2007) and really looks to have accelerated as price declines in the last 6 months are more in line with early cycle declines such as Boston. Our area is co-dependant on other areas of the country such as California as that once million dollar house now at 650k-700k, the move to our area is not as attractive as it once was and the recent price declines reflect the fact that there are fewer buyers today. If you are fortunate enough to be a buyer I have a few deals that I consider amazing, let me know. Bookmark and Share

Tuesday, April 21, 2009

New Listing in The Point! Great Neighborhood!!

105 Harwick Ct. ~ The Point!
Spectacular home in a very desirable neighborhood in the Point, Great Loc! Cul-de-sac, open field! Beautiful entry way; dual staircase; his and her office on main w/built in. Fabulous gourmet kitchen with views of lovely landscaped yard and great room w/ FP. Enjoy the evening in the screened in porch or venture upstairs to the large rec room/teen suite.
MLS# 835139
$764,000
4 Bedrooms/ 3,800 sq. ft.
Contact: Annie Livingston
704/996-2744~ www.annielivingston.net
Boat Slip & Swim Tennis Membership Included!! Bookmark and Share

Take a break from the stock and real estate markets!

Friends and Neighbors,

You’re invited (encouraged) to come see “Pointless” at The Wine Loft in Mooresville this Saturday night, April 25, from 8 PM until midnight.

“Pointless”, a fun band from The Point in Mooresville, plays a mix of 80/90s rock and dance tunes.

The Wine Loft – Mooresville, a lovely, new bar/restaurant with nightly specials, is located in The Village at Byers Creek Center, 3 miles West of I-77 on Hwy 150, at the intersection of Hwy 150 and Perth Road.

Shortcut to: http://thewineloftmooresville.com/

Mark your calendar for Saturday, July 18. “Pointless” will be performing from 7-9 PM at Birkdale Village Shopping Center in Huntersville (Center Court Fountain Area).

Come join the fun. We hope to see you there!

“Pointless” (Darren Zino, Peter Livingston, Mark Hillman and Rob Bobinski) Bookmark and Share

Thursday, March 26, 2009

The Farms homes for sale

The Farms community currently has 28 active listings available and 2 conditional; listings. Prices range from $449,000 to $1,175,000. Bookmark and Share

Interest Rates




My husband, Peter is an investment advisor, he sent this out to his clientele and I thought it pertains to housing as he sees us in "The Last Great re-fi"




Here’s a chart that’s disconcerting relative to future inflation as measured by the CPI index. Interest rates will correlate to the CPI, so as gov’t spending goes, so goes CPI and so goes rates. However, this is not an immediate effect, the CPI is not going up tomorrow, this is something that is longer term out, but at this point looks to certainly be in the cards, unless new information down the road changes this. Just as we saw and alerted you to the “last great bond rally” by via the inverted yield curve that started in late 2006-early 2007 and has always preceded every recession, we now see very high odds of future inflation from unintended consequences of Government action and that is something that is also now present in a very steep yield curve that has preceded every recovery and again this is out 1-3 years and we now suggest we are seeing “the last great refi” of perhaps your lifetime, this may persist for the remainder of the year or so but soon thereafter inflation will push rates up. Lock up long term rates while they are on sale!!


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Wednesday, March 25, 2009

Price Changes

144 Union Chapel in The Point lowered from 2mil to 1,950,000 yesterday Bookmark and Share

Tuesday, March 24, 2009

Latest sale in The Point

A sale of a waterfront home on Great Point Dr. took place today in The Point at $239 per sq ft. This home also included a full equity membership. Good deals for buyers out there. Bookmark and Share

Local School Profiles

Learn more about Brawley Middle School, grades 6-8 click here

http://www.ncreportcards.com/src/schDetails.jsp?pYear=2007-2008&pLEACode=490&pSchCode=308


Learn more about Woodland Heights Elementary K-5

http://www.ncreportcards.com/src/schDetails.jsp?pYear=2007-2008&pLEACode=490&pSchCode=390

Learn more about Lake Norman Elementary k-5

http://www.ncreportcards.com/src/schDetails.jsp?pYear=2007-2008&pLEACode=490&pSchCode=336 Bookmark and Share