Real Estate Lake Life

by Abigail Jennings

Lake Norman truly has something for everyone. Surrounding the lake’s winding 520 miles of shoreline are many unique and vibrant towns spanning four counties. Due to its proximity to Charlotte, the international airport, easy access to major interstates and only a short drive to the beautiful North Carolina mountains and breathtaking Carolina beaches, it’s no wonder why real estate at the lake is in great demand.

The Lake Norman real estate market had two “boom” years following the COVID-19 pandemic, with sales still above those in the pre-pandemic market. This heightened demand has impacted available inventory of new and existing homes for those seeking to relocate. However, although homes for sale may seem scarce, homes are out there, and finding your new home is possible with an experienced advisor on your side.

Since homes that come onto the market often sell very quickly, a little preparation is important so you’ll be ready when your dream home pops up. First, find an experienced broker knowledgeable about the Lake Norman area. Your broker will explain important N.C. real estate rules such as buyer agency, due diligence fees and the contract process. Next, ask your broker for local lender recommendations and proceed with becoming prequalified. With a prequalification letter in hand, your future offer becomes much more appealing to a seller when they see that your financing is pre-approved.

Keep in mind, sellers may consider factors other than price when countering an offer. A good buyer’s agent will learn what the seller is looking for and will advise you on preparing a winning offer. Maybe the seller needs to stay in the property after closing or maybe the seller prefers a quick closing date. Regardless of the reason, it’s very important to know the seller’s motivations before making your offer.

Share your new home wishlist with your broker and request details on recent sales reflective of your price range and wishlist. Having this understanding before getting started will help you quickly determine if it’s “the one” when your broker sends you future home opportunities. If your dream home is on the open market, most likely it will not be available for long, which is why understanding the specific market details are so important before getting started.

“Quiet listings” are growing in popularity and appealing to many sellers who do not want to publicly market their property. As a buyer, the only way to access quiet listings is to work with an experienced broker who has the connections to help you find what you’re looking for. The good news for buyers is that this type of listing offers flexibility for buyers, too, and may be less likely to result in a high-stakes bidding war between buyers.

Lastly, newcomers should beware of the many various rules and regulations which vary widely between towns and counties, and also impact waterfront properties. Your experienced Lake Norman broker can guide you to ensure you don’t purchase a property without knowing potential restrictions.

This incredible region welcomes newcomers from around the world to call Lake Norman home. Whether your desire is a rural oasis, a vibrant historic town or anything in between, your realty dreams can become reality at Lake Norman.

Abigail Jennings is the President of Lake Norman Realty, a locally owned, full-service real estate firm with seven offices serving the Lake Norman region. Learn more at www. LakeNormanRealty.com.

Content provided by Allen Tate Realtors

Looking for the perfect place to call home? Look no further than the Lake Norman region.

Lake Norman is the largest manmade lake in North Carolina, created in the early 1960s. While there is a census-designated place called Lake Norman of Catawba in Catawba County, most who call themselves “Lake Norman” residents actually live in Cornelius, Davidson, Huntersville and Mooresville.

With a wide variety of communities, property types and price points, the expansive Lake Norman region offers the beauty and amenities of a resort community, the quality of life of a small town and the convenience and benefits of a major metropolitan region.

“As people continue to flock to the lifestyle, weather and cost of living that Charlotte provides, home buyers will look to the surrounding areas,” says Allen Tate Realtor Christina Stone.

“Lake Norman offers a wide range of recreational activities such as boating, fishing and water sports,” Stone says. “The surrounding area is known for its charming neighborhoods and communities, making it an attractive destination for homebuyers. With its proximity to uptown Charlotte, residents of Lake Norman can enjoy the vibrant city life while still having access to the peacefulness and natural beauty of the lake.”

The Lake Norman region is widely acclaimed for its luxury waterfront homes, with single-family homes that range from $500,000 for a three-bedroom cottage on the north side of the lake in Terrell, to a $22 million private island estate in Huntersville. Waterfront townhomes and condominiums are priced from $300,000 to $1.5 million.

“Lake Norman is much more affordable than people may think,” says Allen Tate Realtor Anita Sabates, who has sold homes in the region for more than 30 years.

Homes near Lake Norman have seen significant appreciation in recent years. As of June 2023, the average sales price of all homes in the region was $761,417, compared to $452,744 in the Charlotte metro market. There were 508 properties for sale in the Lake Norman area that month, with an average of 40 days on the market.

Neighborhoods with lake access, boat launch and deeded or leased boat slips can be found with homes starting in the $400Ks.

If you’re looking for some green to complement blue water, neighborhoods like River Run, The Peninsula, NorthStone Club, The Point and Trump National offer upscale country club and golf course communities.

Mixed-use neighborhoods like Birkdale Village in Huntersville offer the best of live, work and play, with other communities in the planning stages. Corporate homes, long and short-term rental properties, and apartments are also available in the Lake Norman region.

“Buyers desire (and will pay top dollar for) homes in pristine, updated condition,” says Angela Standish, branch leader, Allen Tate Realtors Lake Norman. “Updated homes that are priced at fair market values sell quickly and often command multiple offers.”

While inventory remains a challenge, Sabates says that she has recently seen an uptick in interest from homeowners looking to sell. This should help ease the supply issue that has driven prices up in recent years, she said.

New construction is also helping fill the demand.

“Many buyers are looking for new construction here because they want the latest bells and whistles, and builders are trying to keep up,” says Lind Goodman, president, BSI Builder Services. “We’re starting to see some development a little further out, in areas like Sherrills Ford that were once considered remote. While build times are a little longer than pre-COVID, area builders are offering some closing cost incentives.”

“The proximity to airports, North Carolina mountains and beaches, and Charlotte’s expansive cultural sites and entertainment venues makes Lake Norman’s location simply perfect. The fabulous sunsets are awesome as well,” Sabates says.

“No one who moves to Lake Norman ever wants to leave,” she says. “And once one family member lands here, so many of their family members follow them from various states.”

Content provided by Allen Tate Realtors. For more information about buying or selling a home in the Lake Norman region, call 704.896.8283 or visit Allen Tate Realtors at 19460 Old Jetton Road in Cornelius.