Posted by: Roby Robertson | June 26, 2009

Lake Norman | Buying a Bigger Home Doesn’t Necessarily Mean Spending More Money

Hey Lake Norman Home Seekers, I will say it again:  Buying a bigger home doesn’t necessarily mean spending more money!

Lake Norman Homes For Sale

According to our local multiple listing service, in our highest growths in value, waterfront homes were increasing in value at a huge rate that was not sustainable.

As would be expected, this category of home would also have the farthest and biggest opportunity to loose value. During the height of growth, the average waterfront home sold for about $300 per square foot. According to today’s statistics the average waterfront homes are now selling at about $200 per square foot.

As I wrote the other day, there are 37 homes on the water with a floating dock for sale under $500,000. In the past, this would not have been possible, unless the home was in bad repair and the value was just in the water frontage.  It was not unusual to see vacant lots selling from $400,000 into the millions.  For now, at least, those days are gone!

Lake Norman Home BuyersPack the boxes!

The same opportunities exist for homes off the water that exist on.  As you may know by now, Lake Norman is surrounded by 4 counties, Mecklenburg, Catawba, Lincoln and Iredell. All of these areas have been affected by the price decreases. However, places like Mooresville and Cornelius had the biggest growth and has had the farthest to fall and they have. We have seen more short sales and foreclosures in these areas than we have ever seen before.

If you thought the Lake Norman area was out of your price range for the type and size home you want and need, think again. The opportunities are out there and we are prepared and knowledge enough to help you find them.

See Also:

Why Lake Norman Is Such A Great Destination


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