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Archive for November, 2007

Housing Market / Real Estate

Everyday we see or hear another headline or news story about how bad the housing market is. The media is the leading culprit when it comes to slamming the current market. With hundreds of daily newspapers, 24 hour news TV channels and endless news outlets on the Internet, the media is always looking for new content. The current market is an easy story to latch onto and report statistic after statistic. Yes, it is true. The market has slowed down and homes are staying on the market for many more days.

Before we get all up in arms and think the world is coming to an end we should step back and look at the facts. The current Mortgage Rate in my location of Charlotte, NC is 6.25% which is better than it was 4 years ago when I purchased my own house at the height of the housing boom. If you think 6.25% is high you should ask what your parents mortgage rate was when they purchased their first house. Depending on their age it may be up around 15 to 18%.

Another big headline I have seen is “Home Buyers having Loan Approval Difficulty!” In the past years when the market was considered great banks and lenders where very quick to approve almost anyone. These days things are returning back to normal. You must have a decent credit score and a decent dept to income ratio. This is really how things should be and the way they were before the housing boom.

It is also very diffacult to get 100% financing anymore. Most loads require 20% down. Many of us forget that this also was the norm before the boom. Things were so good and so easy that we all quickly forget what was normal. This is what is simply called a “correction”. Take a look at the stock market. For a long time all it did was climb. It climbed all the way to 14,000 and then it dropped 1000 points were it has hovered for weeks. When markets continue to climb it often drives up prices for the consumer as it did in the housing market. It takes a correction to bring things back to normal.

Let’s get back to our original topic. “Bad Real Estate Market? / Good Real Estate Market?” What is a Good Real Estate market? Most people would say a good market is when it is a sellers market. Everyone is selling so prices rise quickly as they did during the boom. Buyers have no choice but to pay what seller’s are asking. Not so good for the buyer huh?

Now lets talk about a so called, “Bad Market”. Today’s market is considered a bad market by most. It’s only bad if you are a seller. The market is currently great for buyers. Sellers are having trouble selling for their homes at their asking price so there are many great bargains out there. When it is good for one side it is bad for the other or somewhere in between.

Then why is there less activity overall in the housing market you ask? Other than having to come up with 20% down the only other reason is all the media hype that is scaring people into doing nothing. If you are a buyer, now is the time to buy. Great deals, low prices, low rates and plenty of inventory to choose from. As a buyer you can’t ask for much more.

I ask…….. Why is a Sellers Market a great market and a Buyers Market bad? The state of the current market is nothing more than scared consumers waiting around for……they don’t know what. If you are a buyer the only thing you can be waiting for is to sell your current home or prices to go back up. If you do not have a house to sell and you are a buyer you have better get going. Think about it!

If you would like any additional information about the current real estate market or Lake Norman area homes, contact Lake Norman Home Specialist: Craig LePage, Broker / Realtor of Keller Williams Realty, Cornelius N.C. 704-618-2412

Feel free to subscribe to this Lake Norman real estate information site for future information about Lake Norman Real Estate and area land development. Subscribe above…….

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In The Zone!
Over the last year there have been a number of areas along the Beaties Ford road corridor that have been rezoned and approved for development. This area has been under the watchful eye of the city planning board for a few years now. The majority of town officials have been against the development of this area. I have even heard the words green zone used for this area. It has been said that in this green zone residential homes were to sit on an acres and a half of land in order to slow down the number of houses being built in the area. Like most areas around Charlotte and Lake Norman there are just not enough space in the schools to continue to build homes at the rate things were going.

School and Park
In recent months a new elementary school (Bradley Elementary) has started construction on Beaties Ford road across from the Carrington Ridge Community. Canipe Park has also been completed right next to the school and consists of 5 Soccer Field, 2 Multipurpose Fields, a Playground and additional parking.

New Shea Homes Community
Just a few miles away on Gilead Road, Shea Homes has begun clearing land for their new community that will be called “Beckett”. One Hundred and four homes will be constructed on 184 areas of land and prices will start in the mid $400’s. Lot sizes are said to be around 1.6 acres each.

New 60 Home Community
Additional Zoning has been approved across from the Cashion Woods Community along Beaties Ford road. This community once it is built will consist of 60 one acre lots spread out over 65 acre’s of land. I do not yet know who the builder will be. The developer is Gordon Nassar. I’ll keep you posted……Proposed community on Beaties Ford Road

Galloway Village
If you head farther down Beaties Ford road toward Hopewell High their are a few other areas that have been rezoned for commercial and residential use. Across the street from the High School the Galloway Village project is still pending. If approved the 22.5 acre village will consist of 7 single family homes, a library, daycare and office space. Proposed Galloway Village Plan

Latta Village
Across the street next to the High School the “Latta Village has been rezoned and approved for 99,000 square feet of commercial space, 55,000 which will consist of an anchor space. This project will sit on 23.33 acres of land. Latta Village Plan

Supermarket in “Bloom”
Bloom Supermarkets have recently purchased land on the corner of Beaties Ford road Mount Holly-Huntersville Road, If you are familiar with the area there use to be a trainer dealer where the current Bloom site is. A new Shell gas station will sit directly across the road on one side and a strip mall will be built on the other.

Plan for Hunterville Projects

The Beckett Community is being built on Gilead Road which is off of exit 23 on route 77. If you would like any additional information about the Shea Homes Beckett Community or any other Lake Norman area homes, contact Lake Norman Home Specialist: Craig LePage, Broker / Realtor of Keller Williams Realty, Cornelius N.C. 704-618-2412

Feel free to subscribe to this Lake Norman real estate information site for future information about Lake Norman Real Estate and area land development. Subscribe above…….

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CobblestoneCobblestone is a new custom home community / Enclave in beautiful Denver North Carolina. Denver is located in the southwest shores of ever popular Lake Norman. Just 20 minutes from downtown Charlotte this lake side town is quickly becoming one of the hottest spots around Lake Norman to own a home. Cobblestone is one of the newest developments in the area and will consist of 28 custom homes. The feature builder of the community is Mid-Atlantic Custom Builders which are best known for their work in the Walden Ridge Community in Mooresville. Homes will range from 4000 to just over 5000 square feet and sit on lots around an acre in size. Speculative homes are already being built in both French Provincial and Transitional style are are ready for viewing.

Mid-Atlantic Custom Builders has never cut corners with their homes and these will be no different. Beautiful Granite counter-tops throughout, custom stone fireplaces, upgraded gourmet kitchens, real wood floors, Wrought Iron Bannister’s, 12 foot ceilings, In-Ground Irrigation, Screened in Porches, Spectacular Master Bedrooms and Breathtaking Master Baths with Garden Tubs and Walkaround Showers.You would seriously think these the French Provincial Style homes would be priced up around 1 million dollars but that is far from the case. Homes are priced in the low to high $600’s. They are truly worth checking out.

In addition to top notch home design and craftsmanship Cobblestone offers a peaceful environment that is just minutes from fun at Lake Norman and a quick commute to Charlotte using the new highway NC 16. This newly opened highway 16 is just minutes away and will surely help build equity in these new homes in years to come. The development of the Cobblestone Community was carefully thought out with convenience in mind. You are just 40 minutes from the mountains, 20 minutes from Charlotte, minutes from the lake and just 3 hours from the beach.  What else could you ask for in a location.

If you are interested in more information or a personal tour of any of the Cobblestone homes please contact: Craig LePage, Realtor, Broker 704-618-2412

            Cobblestone        Cobblestone

If you would like any additional information about the Cobblestone Community or any other Lake Norman area homes, contact Lake Norman Home Specialist: Craig LePage, Broker / Realtor of Keller Williams Realty, Cornelius N.C. 704-618-2412

Feel free to subscribe to this Lake Norman real estate information site for future information about Lake Norman Real Estate and area land development. Subscribe above…….

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West Catawba AvenueIt’s been talked about and then gone through the planning process for over a decade.  Now the wheels are in motion. Improvements on the most critical corridor through Cornelius have begun. If you have driven down West Catawba Avenue lately you might have noticed quite a bit of utility work going on. The poles are coming down and the utilities are being buried. From I-77 to Jetton Road the complete project will include a four lane road widening divided by a center median and a number center median cut’s to allow muliti-directional traffic flow. There has also been much talk of multiple traffic circles to replace traffic lights similar to I-77 Exit 30 in Davidson.

With the burial of the utilities are just about complete and the widening will begin in the coming months. Once started the second and final phase of the project is anticipated to take about 12 to 18 months to fully complete.  The town has been said to be working with DOT in an effort redirect traffic flow during the second phase of the project.Be sure to subscribe in the upper right hand corner for email entries.

For additional information about Lake Norman area Homes contact Lake Norman Home Specialist: Craig LePage, Broker / Realtor of Keller Williams Realty, Cornelius N.C. 704-618-2412

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Langtree at the Lake, Lake Norman, NC
Langtree at the Lake on Lake Norman is well on its way. The new exit 32 on route 77 in Mooresville has been under construction since the spring of ‘07 and will serve as the main entrance and main artery for the Langtree at the Lake project.

Phase 1 named “The Landing” will consist of five condominium towers and include 270 units. Loft units will be located over retail space and will range from $350k to $550k. Luxury units will include the highest quality of features and range from $600k to $2.5 million in price. Luxury units will also include rooftop outdoor kitchens and hot tubs.

The Landing will also include a hotel, retail, essentials and office space. Langtree at the Lake is designed to be the total living experience. The essentials of everyday living and great entertainment all surrounding low maintenance luxury living. It will truly be a classy and unique living experience.

THE CHARLOTTE AREA LUXURY HOME COMMUNITY DIRECTORY

Golf Course Communities of Charlotte
Gated Communities of Charlotte

For reservation, guidelines, deadlines and other information about Langtree at the Lake contact:
Craig LePage, Broker / Realtor of Keller Williams Realty, Cornelius N.C. 704-618-2412

Feel free to subscribe to this Lake Norman real estate information site for future information about Lake Norman Real Estate and area land development. Subscribe above…….

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Shea Homes has broken ground on their new community off of Gilead Road in Huntersville. The details have not been released yet but I have been doing a bit of investigating and the homes are said to be priced in the $400’s and up. I have sold a number of Shea Homes and they build a very nice product. They are the largest privately owned Home Builder in the Country and have won multiple builder of the year awards for their price range.

The Beckett Community is being built on Gilead Road which is off of exit 23 on route 77. If you would like any additional information about the Shea Homes Beckett Community or any other Lake Norman area homes, contact Lake Norman Home Specialist: Craig LePage, Broker / Realtor of Keller Williams Realty, Cornelius N.C. 704-618-2412

Feel free to subscribe to this Lake Norman real estate information site for future information about Lake Norman Real Estate and area land development. Subscribe above…….

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Bullzeye Pizza Cornelius / Huntersville, NC

Pizza anyone! If you are in the Lake Norman, NC area you have to try Bullzeye Pizza. They have two locations in the area. One in Rosedale Commons Shopping Center in Huntersville and the new store in Magnolia Shopping Center in Cornelius. Whether you are looking for a taisty lunch or would like to have dinner delivered, Bullzeye hits the spot when it comes to pizza in the Huntersville and Cornelius areas.

Tradition. At Bullzeye Pizza, pizza making is based on years of tradition, trial and error, experience, and most importantly, a love of good pizza. And while the secret family recipe will always remain a secret, a heaping helping of tradition goes into every pie they make. Bullzeye Pizza is owned and operated by Jordan Josifovski and Joe Acovski of Michigan. After visiting the area, they fell in love with the people and places of the South, but most importantly they realized that there was a market for their pizza and they owed it to the community to share the Bullzeye Pizza difference. So they moved their families to North Carolina and opened their first location in Huntersville, NC, with more to follow.

Bullzeye Pizza Cornelius
8305-D Magnolia Estates Dr.
Cornelius, NC 28031
704.892.6555
www.BullzeyePizza.com

(Located in the Magnolia Shopping Center)
Map – Driving Directions


Bullzeye Pizza Huntersville
14316 Reese Blvd.
Huntersville, NC 28078
704.992.2221
www.BullzeyePizza.com

(Located in the Rosedale Commons Shopping Center)
MapDriving Directions



For additional information about Lake Norman area Homes contact Lake Norman Home Specialist: Craig LePage, Broker / Realtor of Keller Williams Realty, Cornelius N.C. 704-618-2412Feel free to subscribe to this Lake Norman real estate information site for future information about Lake Norman Real Estate and area land development. Subscribe above…….
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