Zoom Call of 8.09.22 Mike Carpino Selling Lake Norman Properties

By
Real Estate Agent with Mapleridge Realty, CT 203-206-0754 REB.0759001

Mike Carpino Nuances to Selling Lake Norman Properties

The Zoom call this week was presented by ActiveRain member, Mike Carpino, co-founder of Lake and Town Realty located in Lake Norman, NC, and serving the towns of Huntersville, Cornelius, Davidson, Mooresville and Denver, NC.

Lake Norman, NC is a man-made lake, created for Hydroelectric power by Duke Power, and as such the lake rights and regulations are governed and enforced by Duke Power.

Mike Carpino Nuances to Selling Lake Norman PropertiesLake Norman is a 500-mile shoreline lake which gets its water feed from the Catawba River. The lake is over 50 years old and is unique for the variety of properties found along its shorelines.

Due to the unique nature of the shoreline, the size and types of homes varies greatly. 

As it is controlled by Duke Power, all work down to and on the properties needs to be approved by Duke Power, much as a HOA would do to other types of controlled communities.

As the lake is so large, there are many services that are not available on some smaller lakes, such as marinas, waterfront dining. Close access to the Charlotte area and airport.

As Mike noted, lakefront property can be sold by anybody, however, not all agents would know the unique requirements of the lakes and without that knowledge issues could development after the purchase.

For example, there are few restrictions on the types of boats that can be used on the lake, however, there are restrictions on the size of the docks that can be built on a particular property or whether it can have a dock at all.

There are bridges that span the narrower sections of the lake, and some may not allow for passage of tall-masted sailboats or boats with large flybridges which could restrict passage to the larger areas of the lake.

Mike Carpino Nuances to Selling Lake Norman Properties

The size and styles of homes found along the lake vary, and the prices are some of highest for lakefront properties in the state.

Many investors own on the lake as it makes for high rentals for seasonal use.

There are also some condo complexes for people looking for waterfront residences without the maintenance.

While the lake offers the casual lie style of waterfront living, major services are only minutes away so shopping, health care are all close.

He offered that current inventory of waterfront homes is under 100 properties and they are in a large range of values. He is seeing a beginning of price reductions on waterfront properties and longer days on market a well.

There are restrictions to what can be done on a property, and all of these are dictated by the size of the lots as public services are not available so well and septic govern as in normal communities.

He discussed the beauty of the lake and the low taxes that make it so attractive to people that come from high tax areas.

Mike Carpino Nuances to Selling Lake Norman Properties

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Edward (Ed) Silva
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Serving Central Connecticut Sellers and Buyers

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Comments (24)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ed this is one of the few ActiveRain ZOOM Meetings I was unable to attend, so thank you for filling me in on it.

Aug 11, 2022 08:43 AM
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Hi Ed great recap on the Tuesday call with  Mike Carpino.   I wish I could have been on this this call as I knew nothing about this lake until today.  We have a number of man made lakes in our area and each one is different as to the rules and regulations and zoning.  What I find most interesting about Lake Norman is that the lake rights and regulations are governed and regulated by Duke Power. 

 

 

 

 

Aug 11, 2022 09:40 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      I was in "observer mode" only, but I enjoyed the Zoom session. 

    As for Lake Norman, I have flown over that lake in a hot air balloon.  It was Mom's 70th birthday; sister Marjorie was living in Charlotte, she set up the birthday balloon ride for Mom, and made me be the escort.   What a gorgeous, spectacular way to see Lake Norman!

Aug 11, 2022 10:36 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Ed, sorry I had a appointment and could not catch this zoom call this past week, thanks for the recap!

 

Aug 11, 2022 12:02 PM
Mike Cooper, Broker VA,WV, MD
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Sorry I missed this one. We pass Lake Norman every time we drive to FL. It's beautiful. 

Aug 11, 2022 01:32 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Ed,

As usual a great recap on the Zoom meeting with Mike Carpino talking about Lake Norman. Sorry I had to leave halfway through but I had a funeral I had to leave for.

Aug 11, 2022 03:54 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

I never heard of Lake Norman until I heard Mike's overview, but wow, I want to visit!

Aug 11, 2022 06:32 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Ed and I thought it was a very informative Zoom meeting. It was interesting learning of the various restrictions and items that potential buyers need to be aware of. 

Aug 11, 2022 06:33 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Ed Silva 

Another wonderful summary of the Tuesday Zoom. You really capture the essence of the presentation. Thank you for doing this each week.

Aug 11, 2022 10:34 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Thank you for such a great summary!  I rely on these since I have been unable to attend the actual meetings for quite some time.

Aug 12, 2022 04:54 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Ed,

Lake Norman is such a beautiful area.  When you have over 500 miles of shoreline, that tells me this is a big lake with lots of frontal property.  As usual, this was a great recap and we really appreciate your input.

Aug 12, 2022 01:34 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I am certain all who were able to attend the Tuesday Zoom session benefitted from their presence.

Aug 12, 2022 02:14 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Ed, on having this blog FEATURED in the Old Farts Club group!  

Aug 12, 2022 02:14 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, Ed, for telling us about this Zoom session. I would love to explore the area.

Aug 13, 2022 08:06 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks for a terrific recap, Ed. Mike did a great job educating us about Lake Norman and its popularity.

Jeff

Aug 14, 2022 08:50 AM
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 570-801-5525

Ed, thanks for the educational recap. Your info and Mike's introduced us to a lovely scenic lake that continues its growth. Buyers will want to learn more from Mike.

Aug 14, 2022 11:08 PM
Roy Kelley
Retired - Gaithersburg, MD

Good Monday morning, Ed.

Have a great day and a very productive week.

Aug 15, 2022 04:43 AM
Elyse Berman, PA
Best Connections Realty, Inc. - Boca Raton, FL
Boca Raton FL (561) 716-7824

Hi Ed, Sorry I missed this, but thank you for the recap.  Have a great week!

Aug 15, 2022 07:36 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Thank you for sharing your review of the lake Norman presentation 🙂

Aug 16, 2022 12:43 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Once again Ed I was unable to attend this zoom meeting, but I do appreciate your thorough re-cap!

Aug 17, 2022 06:28 AM