About Mooresville's The Point

The Point in Mooresville NC is arguably the most prestigious luxury community in all of Lake Norman and it is also the largest with 18 miles of beautiful Lake Norman's shoreline. So, when I see interesting changes in housing numbers in The Point I try to put them in context to see if they are in fact an indicator of a significant shift or trend.

Back on September 18, 2008 I wrote: The Point in Lake Norman: A Case Study #2. In this report I noted that we had 123 active listings which translated at the time to a whopping 41-month supply of inventory! Then, in: Lake Norman Real Estate: Affordable Housing at The Point...Wow! on July 25, 2009 I noted that we had 114 active listings and had sold on 19 homes since the beginning of the year or a 38-month supply of active listings.

Today, the number of active listings in The Point has dropped to 82 or 33% below a year ago September. In today's buyers' market this number alone is good news. But, it gets even more interesting when you look at the recent sales numbers. In this past October we had 9 closed sales in The Point which is a significant jump from any month for several years. This makes for a total of 36 sales year-to-date in 2009 in The Point. But, as of July 25, 2009 we only had 19 sales so we have almost doubled our sales for the year in The Point in the past 4 months. At 36 sales we have already surpassed the 2008 sales total for the year of 33. And, we have 7 pending sales and 5 conditional sales that will most likely close by the end of 2009 for a potential total annual sales of 48 almost half of which will have been in this winter 4th quarter. If we average 5 sales per month we would have dropped to about a 16-month supply of active listings. While still high, this number is less than half of the 41 months we had in September of 2008.

What does such a strong fourth quarter mean?

While it is still clearly a buyer's market in The Point, I think these numbers are significant enough to indicate a positive trend. Inventory is dropping and sales are increasing. While half of the inventory and sales are homes priced under $1million, there are FOUR homes priced well over $1million currently under contract and poised to close. It would seem that some of our luxury home buyers are jumping off of the fence, enticed by some great price reductions and perhaps a sense that now is a good time to buy.

One example of an incredible bargain is a waterfront lot foreclosure that closed this past week in The Point for $400,000. This lot sold for about half the market value. It has very good water and views and is about an acre of a flat to gently sloping lot...just what most home buyers and builders are seeking. At our peak this lot was probably worth over $1million.

Here are some interesting statistics related to homes at The Point:

Active Listings:

• 82 today (months of supply = 9.8 if use the past 30 days or 16.5 if use last 3 months)
• 114 in July of this year (months of supply = 38)
• 123 in September of 2008 (months of supply = 41)
• Peak of about 140

Pending Sales: 7

Conditional Sales: 5

Contingent Sales: 2

Solds:

• Since October 1, 2009: 9 (25 % of this year's sales were in October!)
• Past 3 month or since 8/11/09: 14
• Same 3-month period in 2008: 7
• Same 3-month period in 2007: 14
• Year-to-date 2009: 36
• All of 2008: 33
• All of 2007: 76

Price ranges of homes currently on the market:

• $500,000: 5
• $600,000: 9
• $700,000: 6
• $800,000: 15
• $900,000: 4

Contingent Sales:

• $699,000
• $2,199,000

Conditional Sales:

• $749,000
• $899,000
• $1,495,000
• $2,750,000
• $3,950,000

Pending Sales:

• $578,500
• $695,000
• $749,900
• $779,500
• $1,599,000

Related Articles

Lake Norman Real Estate: Foreclosures and Unemployment Rates

Lake Norman Real Estate: Are Waterfront Homes a Bargain in 2009?

Lake Norman Real Estate: Why is it so hard to buy a home right now?

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The Point is located in the city of Mooresville, Iredell County, NC

Community Features:
Tennis Courts
Lake
Golf Course
Pool

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While you are out searching for your new home and spending time in the The Point Mooresville, NC area, you may want to visit some local area attractions like: North Carolina Tourist Guide ( 1.3 mi), Memory Lane Motorsports ( 4.1 mi), LAKE NORMAN ART LEAGUE GALLERY ( 5.2 mi), So Alive ( 5.3 mi), Fine Art Impressions LLC ( 6.2 mi), Mooresville Artist Guild ( 6.6 mi), Art Works on Main ( 6.7 mi), Old World Arts ( 6.8 mi), Mooresville Travel & Tourism ( 6.8 mi), Culture Connection Art ( 7.4 mi), and enjoy all that Mooresville, NC has to offer.

If you are relocating to Mooresville NC, you will have a lot of Mooresville NC homes for sale to choose.The Mooresville NC area is a the perfect location to lay down roots. Scores of Mooresville NC homes for sale are available today. One of the most exciting times in your life is buying a new home. The market is picking up and a lot of people are buying homes. Properties are often purchased as a pure investment. Renting a home out can bring additional income. Many home buyers just want a nice place to live.

Regardless of which area in the Charlotte market you choose to live, you can get to just about anywhere within 45 minutes. Many people want to live close to where they work. Mileage, commute time and infrastructure are all important aspects in your decision of where you want to live. For those concerned about the cost of their daily commute, mileage will be a high priority. How long it takes to get to work should be considered when picking a location.

Buying a home compared to renting has many advantages. Owning a home has some unique advantages over renting. Most communities that consist primarily of owner/occupants tend to be in high demand. Many people can gain an additional tax advantage by writing off their home interest.

New homes offer buyers some unique advantages compared to used homes. Who needs the headache of costly repairs? Your maintenance cost should be lower with a new home. Because of older appliances and systems, most used homes will not come with a warranty. You should lower your energy bills since new homes are built to higher energy standards than old homes. Brand new homes are about seven hundered square feet larger than homes built just 20 years ago. New home builders today merge craftsmanship with the latest building materials to make your home attractive, comfortable and a great place to live.

You will always have things to do in the Charlotte area. Discovery place brings science to life with interactive exhibits, an aquarium and IMAX Dome films. Catch an NBA game and watch the Bobcats in action. Your whole family will beat the heat at the Great Wolf Water Park. Our mild climate makes outdoor activites available year round. Have a cookout at one of the area's many parks.

Buying a home is a huge financial decision, probably the biggest that you will ever make. Going through the home buying process can be stressful, it is highly recommended that you seek the assistance of a licensed professional. Everyones financial situation is different. A skilled agent can refer you to lenders that are best qualified to help you. Check for easements or other limitations on the property you want to purchase. In addition to helping you find your new home, your agent can guide you every step of the way.

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The Point Lake Norman NC

Luxury at its finest, The Point offers all that one would demand of a lake front, golfing community and more! The Point on Lake Norman NC, is a 1,200-acre community with nearly 18 miles of shoreline, featuring custom homes built by some of Charlotte's finest custom home builders. Most of these Lake Norman NC luxury homes are located on waterfront lots or boast waterviews from these upscale homes, many over an acre in size.

The Point on Lake Norman NC's most coveted feature--the Greg Norman-designed, 18-hole golf course with 13 of the holes played along the waterfront. The Point Lake and Golf Club offers a variety of membership levels, as well as assistance connecting newcomers with a Club Sponsor.

Designed like a quaint New England village, The Point Lake and Golf Club houses a Tavern restaurant, a General Store that includes a bakery and homeade ice cream shop, a village green, two large clubhouses with meeting facilities, six tennis courts and three swimming pools. If you're interested in aerobics classes, a children's play area or going to the Club movies, the Activity Center is perfect for you. With planned social and sporting events, the full-time activity director keeps the activities alive at the center!

Come see what The Point on Lake Norman NC has to offer YOU!

RESOURCES

About the author:

Debe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhood and Relocation Specialist who can assist you with the purchase and/or sale of real estate in Charlotte NC or any place in the country by connecting you with a relocation professional in your destination of choice. Debe has created a team of professionals throughout the country to ensure that you enjoy a smooth transition to your new area. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search. The destination service is of no cost to you! Please visit www.TheMaxwellHouseGroup.com for your relocation and/or your local needs.

Copyright © 2009 By Debe Maxwell, All Rights Reserved...*The Point Lake Norman NC*

The Point, Mooesville, NC Homes For Sale - Brawley Widening Continues.

Road work continues on the much anticipated widening of Brawley School Road.

The awaited project is slated to complete in Summer 2011 and appears to be on schedule. Great news for the residents of the communities and businesses along the heavily traveled route.

Some believe that during the recent RE market downturn the added negative of the extended travel time along the road has led some to further softening of the home market along Brawley including the Point.

I share this view and believe that as the road widening nears completion the area

will see a surge in new interest. There are some incredible deals to be had. We recently represented a buyer who saw a purchase price reduced over 20% from ask.

We believe The Point is the most desirable community on the Lake and feel that at the right price now a buyer will be well situated for over the long Term.

Recent update from NCDOT:

Brawley School Road

Roadworkwill also close lanes of Brawley School Road in Mooresville at various times this week:

• Between Isle of Pines Road and Poplar Grove Road from 9 a.m. to 3 p.m. and 7 p.m. to 7 a.m. until Wednesday. (roadwork)
• Near Stutts Road from 7 p.m. to 7 a.m. until Friday (storm pipe replacement)
• Near Williamson Road (widening project)

According to the NCDOT, the Brawley School Road widening contractor will not be allowed to delay traffic by use of lane closures during the following time periods:

• Monday - Friday 6-9 a.m. and 3-9 p.m. from South Fork Road to Blume Road
• Monday - Saturday from 6 a.m. to 9 p.m. from Blume Road to Williamson Road
• Monday - Saturday from 6 a.m. to 9 p.m. on Williamson Road