Lake Norman Real Estate and NC Homes for Sale

 

 

This morning I got a glowing email from a real estate agent referring to the article today in the Charlotte Observer.  Yippee!  “Area home prices are showing signs of life….Overall, the Charlotte market is holding up better than many others around the U.S." 

Darn that S&P/Case Shiller Home Price Index.  And you, Office of Federal Housing Enterprise Oversight, with your numbers showing that Charlotte area home prices rose 5.2%.  Can we talk?  First of all, both of you are talking about a 12-month period ending June 30th.  A  lot has changed in our housing market in the past two months, so exactly how valuable is a 12-month report dated June 30th?  Second of all, one of you doesn’t include “subprime lending, many government-backed loans and the largest mortgages."  Aren’t these kind of important in this current real estate market?

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http://www.bestrealestatelakenorman.com/004236

 

I remember when Mooresville’s Legacy Village  was just some large renderings under a tent on Williamson Road for Realtors to preview.  Today I took the photo above of Phase 1.  As you can see, one row of town homes is complete and construction is well underway on the next block.

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http://www.bestrealestatelakenorman.com/003FA3

LAKE NORMAN RESIDENTIAL REAL ESTATE HOT SHEET

Friday, July 25, 2008 

Hot Sheet	7/25/08	7/11/08	6/27/08	5/12/08	4/12/08	3/10/08
New Listings	138	157	142	189	169	174
Back- on Market	54	43	55	46	42	40
Price Changes	238	204	248	212	204	154
Pending Sales	61	37	55	49	37	52
Sold	47	42	41	45	44	35
Conditional + Contingent	22	21	18	18	17	22

 

My bi-monthly Lake Norman Friday Hot Sheet is here! 

 

It is great to see that quite a number of people are enjoying these new bi-monthly reports so I will continue to do them!  As I stated two weeks ago, despite all of our technology, one part of our real estate practice has consistently been an important part of our routine…pulling the daily, or in this case, bi-monthly Hot Sheet which gives us a snapshot update for all residential real estate activity in Lake Norman for the past two weeks. 

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http://www.bestrealestatelakenorman.com/003F1E

 

Not two days after one of my out-of-state buyers asked me about how the housing slowdown has effected Lake Norman builders, the lead article in The Charlotte Observer’s Business Section was:  “Housing slump slams Mecklenburg builders.  In a signal of the market’s steep decline, building permits are off 40% from 2007.”  The article went on to say:

• Permits fell 30% below the lowest level in the last decade
• Permits for the 8-county Charlotte area fell 49% in the first half of 2008 and 52% for the second quarter compared to the same periods last year according to Market Opportunity Research Enterprises.
• Nationally, construction permits are at a 17-year low!

 

Lake Norman permit statistics aren’t available yet so I thought I would go to the MLS and do a quick analysis of new construction versus re-sale listings and sales.  Here is what I found:

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http://www.bestrealestatelakenorman.com/003F1C

 

View a new "Earth Friendly” green home today, July 19th and tomorrow July 20th in Lake Norman!  Pippin Home Designs has opened their “Live Green Project” home in partnership with Habitat for Humanity to raise money for Women’s Build, a program to build adequate homes for mothers and children.  The “Live Green Project” home is located at 7390 Gabriel Street in Sherrills Ford on the northeast side of Lake Norman.  Tickets are $11 and they are open 10am - 6pm.

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http://www.bestrealestatelakenorman.com/003F1B