Lake Norman Foreclosure Real Estate Market Update June 2011

Lake Norman Foreclosure Homes
At the end of June 2011 there were 105 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 17% increase from the 90 foreclosure, preforeclosure & short sale properties for sale in May 2011. Prices range from $24,900 to $1,400,000 for a waterfront home in Mooresville.

21 foreclosure/short sale homes closed in June 2011. This was an increase of 31% from the 16 foreclosure homes sold in May 2011. The average home sold was a 3 bedroom/3 bath with 3,035 square feet and an average sale price of $344,223. The average sales price increased 3% from the previous months average sale price of $334,087. The average days on the market were 153, an 27 day increase from May 2011.
Thirty foreclosure and short sale properties are currently under contract, a 6% decrease from May 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of June 2011 there were 12 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 33% increase from the 9 foreclosure, preforeclosure & short-sale properties listed for sale in May 2011. Prices range from $95,000 to $309,900. The average unit is a 2 bed/2 bath with 1,197 square feet and an average list price of $160,575, down 9% from the May average list price of $177,299.

Two foreclosure, preforeclosure or short-sale condos/townhomes sold in June 2011. This was an increase of 200% from the zero foreclosure, preforeclosure or short-sale condos sold in May 2011. The average sales price in June was $112,600, down 6% from the April average sales price of $119,750. Four foreclosure/preforeclosure units are currently under contract, up 50% from May.

If you would like to be added to the foreclosure properties email notification list and the Lake Norman area “Best Buy” list please visit our Lake Norman foreclosure website LakeNormanForeclosure.com.

If you need help stopping foreclosure on your Lake Norman property please give us a call at 866-LakeNorman.

Lake Norman Foreclosure Real Estate Market Update May 2011

Lake Norman Foreclosure Homes
At the end of May 2011 there were 90 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 13% decrease from the 103 foreclosure, preforeclosure & short sale properties for sale in April 2011. Prices range from $75,000 to $1,499,000 for a waterfront home in Mooresville.
Sixteen foreclosure/short sale homes closed in May 2011. This was an decrease of 24% from the 21 foreclosure homes sold in April 2011. The average home sold was a 3 bedroom/3 bath with 3,313 square feet and an average sale price of $334,087. The average sales price decreased $2,103 or .6% from the previous month. The average days on the market were 126, an 86 day decrease from May 2011.
Thirty-two foreclosure and short sale properties are currently under contract, a 0% decrease from April 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of May 2011 there were 9 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 18% decrease from the 11 foreclosure, preforeclosure & short-sale properties listed for sale in April 2011. Prices range from $95,000 to $309,900. The average unit is a 2 bed/2 bath with 1,255 square feet and an average list price of $177,299, down 2.5% from the April average list price of $181,791.
Zero foreclosure, preforeclosure or short-sale condos/townhomes sold in May 2011. This was an decrease of 200% from the two foreclosure, preforeclosure or short-sale condos sold in April 2011. The average sales price in May was $0,000, down from the April average sales price of $119,750. Two foreclosure/preforeclosure units are currently under contract.
If you would like to be added to the foreclosure properties email notification list and the Lake Norman area “Best Buy” list please visit our Lake Norman foreclosure website LakeNormanForeclosure.com.
If you need help stopping foreclosure on your Lake Norman property please give us a call at 866-LakeNorman.

Buyers Better Hurry: Rates Reach New Lows

For the sixth straight week, fixed mortgage rates inched down, reaching new lows for 2011. The 30-year fixed-rate mortgage averaged 4.60 percent this week while the 15-year mortgage averaged 3.78 percent, Freddie Mac reports in its weekly mortgage market survey.

Meanwhile, the National Association of Home Builders reported this week that home affordability reached its highest level in 20 years, making the purchasing power for home buyers even better during this traditionally prime buying season.

Here’s a closer look at mortgage rates:

30-year, fixed-rate mortgage: Averaging 4.60 percent this week, it was down slightly from last week’s 4.61 percent average. Last year at this time, 30-year rates averaged 4.84 percent. The 30-year fixed rate mortgage hasn’t been under this week’s 4.60 percent average since early December 2010 when it fell to 4.46 percent.

15-year, fixed-rate mortgage: Averaging 3.78 percent this week, it also was down from last week’s 3.80 percent average. Last year at this time, the 15-year fixed-rate mortgage averaged 4.21 percent. It has not been under this week’s 3.78 percent average since late November 2010 when it fell to 3.77 percent.

5-year adjustable-rate mortgage: Averaging 3.41 percent this week, it was down from last week’s 3.48 percent average. A year ago at this time, the 5-year ARM averaged 3.97 percent.

Source: “Fixed Mortgage Rates Continue to Find New Lows,” Freddie Mac (May 26, 2011)

April 2011 Lake Norman Foreclosure Real Estate Market Update

Lake Norman Foreclosure Homes
At the end of April 2011 there were 103 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 17% decrease from the 124 foreclosure, preforeclosure & short sale properties for sale in March 2011. Prices range from $27,209 for a double-wide to $1,499,000 for a waterfront home in Mooresville.

Twenty-one foreclosure/short sale homes closed in April 2011. This was an decrease of 13% from the 24 foreclosure homes sold in March 2011. The average home sold was a 3 bedroom/3 bath with 3,148 square feet and an average sale price of $336,190. The average sales price decreased $32,898 or 9% from the previous month. The average days on the market were 212, a 56 day increase from March 2011.

Thirty-two foreclosure and short sale properties are currently under contract, a 33% decrease from March 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of April 2011 there were 11 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 0% increase from the 11 foreclosure, preforeclosure & short-sale properties listed for sale in March 2011. Foreclosure prices range from $81,810 to $375,000. The average unit is a 2 bed/2 bath with 1,227 square feet and an average list price of $181,791, down .2% from the March average list price of $182,228.

Two foreclosure, preforeclosure or short-sale condos/townhomes sold in April 2011. This was an increase of 100% from the 1 foreclosure, preforeclosure or short-sale condos sold in March 2011. The average sales price in April was $119,750, down 40% from the March average sales price of $200,000. One foreclosure/preforeclosure units is currently under contract.

If you would like to be added to the foreclosure properties email notification list and the Lake Norman area “Best Buy” list please visit our Lake Norman foreclosure website LakeNormanForeclosure.com.

If you need help stopping foreclosure on your Lake Norman property please give us a call at 866-LakeNorman.

March 2011 Lake Norman Foreclosure Real Estate Market Update

Lake Norman Foreclosure Homes

At the end of March 2011 there were 124 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 1.6% increase from the 122 foreclosure, preforeclosure & short sale properties for sale in February 2011. Prices range from $30,000 for a double-wide to $1,499,000 for a waterfront home in Mooresville.

Twenty-four foreclosure/short sale homes closed in March 2011. This was an increase of 4% from the 23 foreclosure homes sold in February 2011. The average home sold was a 4 bedroom/3 bath with 3,525 square feet and an average sale price of $369,088. The average sales price increased $50,832 or 16% from the previous month. The average days on the market were 156, a 39 day increase from February 2011.
Fourty-eight foreclosure and short sale properties are currently under contract, an 9% increase from February 2011.

Lake Norman Foreclosure Condos & Townhomes

At the end of March 2011 there were 11 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 10% increase from the 10 foreclosure, preforeclosure & short-sale properties listed for sale in February 2011. Foreclosure prices range from $81,810 to $309,900. The average unit is a 2 bed/2 bath with 1,310 square feet and an average list price of $182,228, up 7% from the February average list price of $169,685.

One foreclosure, preforeclosure or short-sale condos/townhomes sold in March 2011. This was an decrease of 0% from the 1 foreclosure, preforeclosure or short-sale condos sold in February 2011. The average sales price in February was $200,000, up 110% from the February average sales price of $94,900. Two foreclosure/preforeclosure units are currently under contract.

If you would like to be added to the foreclosure properties email notification list and the Lake Norman area "Best Buy" list please visit our Lake Norman foreclosure website LakeNormanForeclosure.com.

If you need help stopping foreclosure on your Lake Norman property please give us a call at 866-LakeNorman.

February 2011 Lake Norman Foreclosure Real Estate Market Update

Lake Norman Foreclosure Homes
At the end of February 2011 there were 122 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 2% increase from the 120 foreclosure, preforeclosure & short sale properties for sale in January 2011. Prices range from $27,209 for a double-wide to $1,300,000 for a waterfront home in Mooresville.

Twenty-three foreclosure/short sale homes closed in February 2011. This was an increase of 53% from the 15 foreclosure homes sold in January 2011. The average home was a 4 bedroom/3 bath with 3,470 square feet and an average sale price of $318,256. The average sales price decreased $74,810 or 19% from the previous month. The average days on the market were 117, an 18 day increase from January 2011.
Fourty-four foreclosure and short sale properties are currently under contract, an 4% decrease from January 2011.

Lake Norman Foreclosure Condos & Townhomes
At the end of February 2011 there were 10 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 43% increase from the 7 foreclosure, preforeclosure & short-sale properties listed for sale in January 2011. Foreclosure prices range from $90,900 to $309,900. The average unit is a 2 bed/2 bath with 1,418 square feet and an average list price of $169,685.

One foreclosure, preforeclosure or short-sale condos/townhomes sold in February 2011. This was an decrease of 50% from the 2 foreclosure, preforeclosure or short-sale condos sold in January 2011. The average sales price in February was $94,900, up 36% from the January average sales price of $70,000. Three units are currently under contract.

If you would like to be added to the foreclosure properties notification list and the Lake Norman area "Best Buy" list please visit our Lake Norman foreclosure website LakeNormanForeclosure.com.

If you need help stopping foreclosure on your Lake Norman property please give us a call at 866-LakeNorman.

The Lake Norman Homes Team
Realtors®/Brokers
Keller Williams Realty
http://www.lakenormanhomes.com/

January 2011 Lake Norman Foreclosure Real Estate Market Update

Lake Norman Foreclosure Homes
At the end of January 2011 there were 120 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 3% decrease from the 116 foreclosure, preforeclosure & short sale properties for sale in December 2010. Prices range from $27,209 for a double-wide to $2,445,000 for a waterfront home in Cornelius.

Fifteen foreclosure/short sale homes closed in January 2011. This was an decrease of 46% from the 28 foreclosure homes sold in December 2011. The average home was a 3 bedroom/3 bath with 3,291 square feet and an average sale price of $393,066. The average sales price increased $47,096 or 14% from the previous month. The average days on the market were 99, a 39 day increase from December 2010.
Fourty-six foreclosure and short sale properties are currently under contract, an 12% increase from December 2010.

Lake Norman Foreclosure Condos & Townhomes
At the end of January 2011 there were 7 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 13% decrease from the 8 foreclosure, preforeclosure & short-sale properties listed for sale in December 2010. Foreclosure prices range from $99,900 to $215,000. The average unit is a 2 bed/2 bath with 1,526 square feet and an average list price of $169,685.

Two foreclosure, preforeclosure or short-sale condos/townhomes sold in January 2011. This was an increase of 0% from the 2 foreclosure, preforeclosure or short-sale condos sold in December 2010. The average sales price in January was $70,000, down 39% from the December average sales price of $180,000. Two units are currently under contract.

If you would like to be added to the foreclosure properties notification list and the Lake Norman area “Best Buy” list please visit our Lake Norman foreclosure website LakeNormanForeclosure.com.

If you need help stopping foreclosure on your Lake Norman property please give us a call at 866-LakeNorman.