Charlotte and Lake Norman property values have held stronger than any most other markets in the country. Initially, our region escaped the housing downturn while continuing to ride the influx of newcomers to the area. During the first quarter prices remained steady in Charlotte as other markets took big hits with dramatic drops in housing prices. Recently, though, the region's biggest wage producer, the financial industry, took a hit. With forecasts for a slower economy, the stock market's fall and continued job losses, the housing market in Charlotte, too, has seen a decline in the price of homes. With the days on market for homes increasing and inventory levels higher than in the past, these are times for motivated sellers.
Here's the silver lining: With interest rates near historic lows, an abundance of homes on the market to choose from, there are some very good opportunities out there right now for motivated buyers ready to jump into the real estate market. Local analysts are optimistic that the third quarter of 2009 will see some improvement with pent-up demand growing. The expectation is that North Carolina's economy will begin some modest recovery later this year, particularly if the credit markets begin to flow freely again and if the incoming administration provides the necessary proposed stimulus package. In short, if you take a 10% hit selling your $200,000 home, you still come out ahead if you get 10% off when you trade up to a $300,000 home.
Once the clouds of uncertainty disappear, the Greater Charlotte area has great potential to bounce back and recover. The most recent census figures released show North Carolina as the nations' fourth-fastest growing state with a 2% population growth of about 181,000 residents.
First of all, let me say that this is my first attempt at blogging so I hope you will grant me some slack here.
My family and I have called Lake Norman home for 13 years now, and my fondness for the region compels me to be a goodwill ambassador and share with you some of what makes living here so special. Lake Norman is a haven for water sports enthusiasts, golfers, families, retirees and anyone craving picturesque sunsets, exquisite landscapes, shopping, dining, sporting events, racing and camping. The area offers an abundance of affordable housing and plentiful employment opportunities. Some of the larger employers in the area include Lowe's, the home improvement giant, Ingersoll-Rand, Rubbermaid, Davidson College and Presbyterian Hospital.
Lake Norman is an exciting and dynamic place to live, work and play. An influx of newcomers to the area has infused a lively energy and diversity to the region like never before. With so many opportunities to discover a variety of lifestyle options here, it's no wonder the word is getting out.
Lake Norman is located in the northern section of Mecklenburg County just 18 miles northwest of the City of Charlotte and includes the surrounding Towns of Cornelius, Davidson, Huntersville and Mooresville. The lake was created in 1963 by Duke Energy and is the largest body of fresh water in North Carolina with over 520 miles of shoreline
Parks and Recreations areas are plentiful in Lake Norman and reflect the active lifestyle here. Jetton Park encompasses over 105 acres with bike trails, walking and rollerblading trails, lighted tennis courts, bike rentals and picnic areas with grills.
Ramsey Creek Park is a 43-acre waterfront park with boat ramps, a fishing pier, windsurfer and wave runner beach and covered picnic shelters.
Blythe Landing Park features over 26 acres, a boat launch area, sand volleyball courts, playground and picnic sites with grills.
Lake Norman State Park in nearby Troutman features a 33-acre lake, 13 miles of shoreline, fishing, boating, campsites and canoe and pedal boat rentals.
Charlotte Douglas Airport is conveniently located just south of Lake Norman and offers more than 500 daily flights to over 150 cities. Major carriers include USAir, Continental, Delta, American and Northwest.
Feel free to give me a call if you want some more information about the region.
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Whether it’s boating, golf or water sports, calling Lake Norman and Charlotte my home for the past 14 years has equipped me with a wealth of knowledge and experience to share with my clients.
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