Mike Carpino Realtor from Lake Norman to Uptown Charlotte, NC

Lake Norman North Carolina Real Estate has remained steady in the wake of this recession but if you are looking to make a big score take a look at these luxury homes for sale on Lake Norman.

For those in the market of Luxury Living on a beautiful Lake you may want to consider looking in the Lake Norman area of Charlotte North Carolina. The lake has over 500 miles of shoreline and can accommodate large yachts and speed boats.

After living in Fort Lauderale FL and spending numerous hours on the intracoastal I have seen my share of luxury homes. However, moving to Huntersville, North Carolina over 10 years ago I realized that the luxury waterfront living exists in the Carolina's. Not only does it exist it is SPECTACULAR!

The home pictured above has unbelievable detail in this Old World Castle! Nothing like this on Lake Norman. Hand carved trim, hewn timber beams and venetian plaster decor throughout. Gourmet Kitchen with huge island and GE Monogram appliances. Awesome infinity edge pool with hot tub, grotto, slide and waterfall. Magnificent main channel location. Impeccable craftsmanship, architectural design and gated drive.

This is just a sampling of what you can find on the shore of Lake Norman. Go to Lake And Town Realty and view all the luxury homes for sale over 2 million dollars.

Mike@LakeAndTown.com
704 301-9264

I have been following the proposed Augustalee development in Cornelius North Carolina for over a year now. There have been some major changes in the past couple of weeks that can change the total outlook of this project.

Recently, the original owners have had some issues with it's lenders and now have lost the opportunity to continue with Augustalee. Here is an article written in the The Herald that explains the lastest news on the project.

The Michigan pension fund that took over the proposed Augustalee project Thursday predicts it can find the new capital and "additional development expertise" needed to "move the project forward."

In a statement released by their Charlotte attorney Friday, Aug. 28, BUILD Fund officials said they also look "forward to working with officials for Cornelius, other state and local officials and Fifth Third Bank."

Fifth Third Bank is the senior lender on the proposed $155 million, mixed-used development, and the BUILD Fund was the second lender until foreclosing on the original developers, Cornelius Bromont and Bromont Investments.

Katten Muchin Rosenman, the Charlotte law firm representing the BUILD Fund, held a foreclosure sale at 11 a.m. Thursday, Aug. 27, at the firms' offices on the 26th floor of 3 Wachovia Center. The BUILD Fund, which already has advanced the development $19 million, was the sole bidder for Augustalee, offering $2.5 million.

Walt Rector and his son, Josh, who own Cornelius Bromont, the original developers, attended the foreclosure proceeding with their attorney, but neither spoke a word.

Cornelius town officials have participated previously in meetings with the Rectors and officials with the BUILD Fund about "how this would proceed," Cornelius Mayor Jeff Tarte said Friday, Aug. 28. He said those meetings have been "very civil," and he knows that the Rectors and the BUILD Fund are working together on other projects in Dallas, Texas.

Tarte compared the Augustalee dispute to a "quarrel in a family," although he noted that "families sometimes divorce."

Bradley Pearce, the Charlotte attorney representing the BUILD Fund, told the Herald after Thursday's foreclosure sale that BUILD Fund officials have not asked the Rectors to leave the project. Pearce said negotiations between all the parties are continuing.

Earlier in the week, the Rectors sued the BUILD Fund, accusing the pension fund of breach of contract and unfair trade practices. The Rectors contend the BUILD Fund breached its loan agreement to provide an additional $4 million by May 13, triggering the events that led to the foreclosure. The Rectors have asked a judge to order the BUILD Fund to pay damages or the $4 million it promised.

Through a marketing firm, the Rectors have refused to comment. Amy Pritchard Williams, the Charlotte attorney representing the Rectors, said Friday, Aug. 28, that she could not comment on the foreclosure sale or the Rectors' suit against the BUILD Fund. Fifth Third Bank officials did not attend Thursday's sale and have refused comment previously.

In its prepared statement, BUILD Fund officials said they are "optimistic" about moving forward despite Bromont's "failure to satisfy certain milestones and inability to raise additional capital needed to complete the project, including the financing of certain infrastructure and required offsite improvements."

The BUILD Fund describes itself as "a commingled real estate fund that provides, among other things, equity and mezzanine debt financing for various real estate developments and projects around the country."

Once the BUILD Fund, the Rectors and Fifth Third Bank officials have reached some understanding, Tarte hopes the developers will come to a meeting of the town's Board of Commissioners "to share their view of the project."

"They might not want to change a thing," Tarte said. "They might want to scale back or they might want to do something completely different."

But the best outcome for Cornelius, he said, is getting Augustalee built as designed. "What other project could we bring to that 104 acres, or anywhere in North Carolina, that will immediately create 1,000 construction jobs ... and pay for $120 million in road improvements?" Tarte asked. "We need and want Augustalee," he said. "It would be unbelievably tragic and unfortunate," if the projects fails.

At the same time, the mayor said the BUILD Fund still faces an economy in crisis and a minimum delay of at least a year. "There's no magic," he said. "The biggest hurdle is finding the funding, which will pay for the debt service to begin building. No matter who they are, the owners aren't going to see any revenue until something comes out of the ground."

Mike Carpino
www.LakeAndTown.com

Lake Norman North Carolina has a number of beautiful state parks but with no swimming access at any of them except for Lake Norman State Park in Troutman, NC.

However, that may all change after a meeting by Mecklenburg officials this week. Here is a recent article by the Charlotte Observer that explains what will be talked about.

Mecklenburg leaders this week are expected to lift a 32-year-old swimming ban at the county's waterfront parks, possibly leading to the re-opening of public beaches on Lake Wylie and Lake Norman.

Mecklenburg Parks and Recreation staff spent several months examining the feasibility of public swimming. The review included the county-operated parks at Copper Head Island, McDowell Nature Preserve, Latta Plantation Nature Preserve, Blythe Landing, Ramsey Creek and Jetton Road.

"As the lakes have been built out, there are very few places that the average person can go to swim," said Jennifer Roberts, chairman of the Mecklenburg County Commission.

Roberts said she expected Commissioners to lift the swimming ban at their meeting Tuesday night.

Preparing the parks for public swimming still requires the approval of Duke Energy, which controls the lakes, as well as dredging and the installation of markers and buoys.

"There are some very unsafe places in our Catawba River and in our lakes, and what we want to do is give people a safe place," Roberts told NewsChannel 36, adding the county hopes to post lifeguards at the public swimming areas.

Exact locations for swimming have not yet been finalized, officials said, and the public beaches may not be ready until the summer of 2012.

If, or when this happens I will be sure to keep you informed. Please sign up for my blog to stay up to date with the latest Lake Norman area information.

Mike Carpino
Mike@LakeAndTown.com
704 301-9264

Huntersville NC Townhomes under $150k - Huntersville North Carolina Real Estate.

Huntersville, North Carolina has been voted by a number of real estate magazines as one of the top ten places to relocate. I would have to agree with that census.

My wife and I have lived in the Huntersville area for almost 10 years and have come to really love it here. From the climate to the location it has everything you could ask for.

For anyone looking to relocate from another state, but felt they would not be able to afford it. Take a look at some of the townhomes in the Huntersville Lake Norman area by following this link. Huntersville Townhomes for Sale

If you are new to the area here are a list of valuable links that you may want to visit:

Huntersville Schools:
Elementary
Barnette Elementary (just built 2008 and where my kids go)
Torrence Creek Elementary
Blythe Elementary
Huntersville Elementary

Middle High School
Bradley Middle Hopewell High
J.M. Alexander Middle North Mecklenburg

Huntersville Lake Norman area events Calendar

To view all of the homes/townhomes available in the Lake Norman/Charlotte region click on the buttons below.

Mike Carpino
Owner/Broker
Lake And Town Realty
Mike@LakeAndTown.com
704 301-9264

Festival in the Park, Charlotte North Carolina will begin Thursday September 24th.

Since 1964, Festival in the Park has been bringing good music, good art and good times to Charlotteans and visitors from around the world. The sounds of "big band music" drift across Freedom Park's lake whose still surface reflects the lights strung from Camelot exhibit tents.

The scents of a variety of food fill the air, as small children with painted faces happily produce their first art work. Others find the many talented artists who can create an original work of art to grace their home or to give as the perfect gift.

First time visitors are taken by the simple, relaxed atmosphere. Old timers marvel at the freshness of each year's offerings, as memories from long ago festivals are revisited. Unlike most festivals our lighting system allows us to continue into the night.

This fun filled event is designed to promote and stimulate interest in the arts. It provides the opportunity for all to see, hear, and learn from over 150 artists and crafts people who actively demonstrate and display their art. Nearly a thousand entertainers provide free ongoing performances at the main band shell and many stages surrounding it.

Festival in the Park has been chosen as one of Sunshine Artists Magazine's 200 BEST festivals. Over 125,000 visitors are estimated to have attended the 2008 Festival in the Park.

The Festival is made possible by many groups and individuals. A sampling of the organizations who actively participate in bringing art and entertainment to the Festival are Charlotte Mecklenburg Schools, the Afro American Cultural Center, the Carolina Clowns, the United Magicians' Association, and the Charlotte Folk Society. We welcome them and the many others who help make the Festival possible.

We encourage all groups and individuals to participate and get involved Festival in the Park!!

"My wife and I have attended for 10 years now and think it is one of Charlotte's Best events held!"

Mike Carpino
Mike@LakeAndTown