Ivester Jackson Distinctive Properties is the leading luxury brokerage in the Charlotte region. An exclusive affiliate of Christie’s International Real Estate, the firm serves the Charlotte, Lake Norman, and Asheville areas of North Carolina, managing over 250 million dollars in listed inventory annually.
Ivester Jackson / Christie’s International Real Estate is excited to be the presenting sponsor again this year at The Peninsula Community Foundation’s annual fundraising event, “Let’s Celebrate Friendsgiving,” which will be held November 17th at The Peninsula Club at Lake Norman.
This annual gala serves to raise money to support local charitable organizations to improve the lives of those in need in our community.
Founded in 2001, The PCF slogan is “Neighbors Helping Neighbors,” it’s an all-volunteer organization serving North Mecklenburg County. “PCF brings people, capital, and ideas together to help local Lake Norman charities and the communities they serve.”
Projects include; contributing money to help build Habitat homes, funding for The Ada Jenkins Center, improving the Hope House in Huntersville, and providing need-based college scholarships to students from North Mecklenburg public high schools. You can visit the PCF website to learn more about their extensive work with the many charitable organizations they support.
Please join our agents for a fun night of cocktails, dinner, games, raffles, and dancing to support our community!
* Pending Sales Report (Over $500k) for May 2018 – Lake Norman/Davidson, Charlotte, Union County & Buncombe County:
While Lake Norman, Union County & Buncombe County pending sales showed upward movement as the month of May progressed, Charlotte’s pending sales ended the month down by 5%. Union County had a slightly higher pending sales increase at 15% over Lake Norman’s 12% increase but Buncombe County lead all areas with almost a 19% increase in pending sales by month end.
* Showing Trends Report (Over $500k) for May 2018 – Lake Norman/Davidson, Charlotte, Union County & Buncombe County:
Following suit, Showing Trends for May 2018 compared to this same time in 2017 were also up across all areas except Charlotte, which was down albeit by only 1%. This indicates a pretty tight inventory with showings about flat and pending sales down for the area as buyers struggle to find homes they like enough to go see much less buy. Lake Norman showings were up by 20% as were both Union and Buncombe Counties by 26%-27%, right in line with their upward pending sales trends.
Many homebuyers in Charlotte are interested in popular gated communities for several reasons including exclusivity, sense of security, privacy and an overall quiet atmosphere.
Ivester Jackson Christie’s Int’l Real Estate has some wonderful homes for sale in many of these Charlotte gated communities, including Skyecroft, Maple Grove, Pellyn Wood, Greenwood, Morrocroft Estates, Norman Estates and Heydon Hall.
Click on the images below for more details, pictures, and virtual tours.
A Parade of Homes award winner, this meticulously maintained Skyecroft custom build features an owner’s suite on main with the second master located in the exquisitely finished walk-out basement.
Skyecroft is a lovely neighborhood with a serene peaceful landscape. It’s a resort style neighborhood with multiple walking trails, ponds, tennis courts and pool. It’s located minutes from Waverly & Rea Farms shopping & restaurants and excellent Weddington Schools.
Patrick Joseph custom built estate on over 3 acres in the gated community of Maple Grove.
Maple Grove has many large estate style lots and grand luxury homes, it’s located in a unique and peaceful area close to Lake Norman and just minutes from Highway 16 which makes for a quick commute to Uptown Charlotte.
One of Charlotte’s premier settings highlights this flagship home in gated Morrocroft Estates.
Located in the SouthPark area, Morrocroft Estates is one of Charlotte’s most prestigious and private addresses, complete with 24-hour security and convenient access to Charlotte’s center city and dynamic SouthPark area.
Built by Kingswood Builders, words cannot truly describe what an unbelievable house this is, in a gated community, in a cul de sac with Quail Hollow Country Club in view.
Heydon Hall is full of spectacular homes located in a quiet neighborhood with tree-lined streets. It’s located minutes from Uptown Charlotte and right next to the distinguished Quail Hollow Country Club.
Take award-winning luxury design features & superior finishes. Add best-in-class high-tech entertainment, automation & security.
Governors Island is a gated community located on the West Side of Lake Norman and offers spectacular waterfront views. Nearly 40 families call this island home enjoying the privacy and park-like setting.
CHARLOTTE, N.C. – The Charlotte Regional Realtor® Association provides monthly reports on residential real estate market activity for the Charlotte Metro region based on data from Carolina Multiple Listing Services, Inc. (CarolinaMLS). The Charlotte Metro region, which this report is based on, includes 12 counties in North Carolina and four counties in South Carolina.
The Charlotte Metro region year-over-year home sales in April increased 1.6 percent, with 4,028 properties sold compared to 3,963 properties sold in April 2017. Compared to the previous month (March 2018), sales rose 4.2 percent.
The average sales price in April 2018 ($292,158) increased 8.1 percent compared to April 2017 ($270,241), while the median sales price ($240,000) increased 7.4 percent compared to April 2017 ($223,498). Compared to the March 2018, the average and the median sales price increased 4.4 percent and 2.1 percent respectively.
The average list price in April 2018 ($342,606) increased 6.6 percent compared to April 2017 ($321,505), bringing the percent of original list price received measure to 97.4 percent, a slight increase of 0.2 percent compared to the same period last year. Pending sales in April 2018 (5,245) rose 10.7 percent compared to April 2017. Compared to the previous month (March 2018), pending sales increased 1.2 percent.
“It’s good to see year-over-year sales this past April increased slightly over last year’s sales; however, sales activity remains slow this spring and lagging behind previous years with tight inventory impacting home prices,” said 2018 Charlotte Regional Realtor® Association/CarolinaMLS president Jason Gentry. “The good news is that pending contract activity continues to show strong interest from buyers.”
New residential listings (5,773) increased 0.7 percent in April 2018 compared to the same period last year. Compared to the previous month (March 2018), new listing counts decreased 3 percent. Inventory continued to fall, with the number of homes for sale down 22.6 percent compared to April 2017, which left the CarolinaMLS region with 8,515 properties for sale at report time, or 2.1 months of supply of inventory. A year ago in April 2017, the region had 11,008 properties for sale or 2.8 months of supply.
The average number of days a property was on the market from the time it was listed until it closed (list to close) was 94 days, which is five days fewer than it was in April 2017. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 44 days, which is five days fewer than April 2017.
Next month local community members will tee up at The Peninsula Club along the shores of Lake Norman to help homeless children around Charlotte.
A Child’s Place is helping spread the word about the need for helping homeless children in our local schools, according to their website “in Charlotte Mecklenburg Schools, more than 4,000 children are homeless. Imagine trying to complete homework in a noisy and crowded shelter, or sleeping in your car the night before a big test. For more than 4,000 children in our community, that is a reality. A Child’s Place intervenes at the family’s point of crisis, helping stabilize the family and addressing needs to help the children succeed in the classroom.”
Ivester Jackson agent Julie Lopez supports the cause and says “every day in our work we see the importance of homes in children’s lives and I think it is important to help those who are not so lucky to have a home. ”
This year the tournament will be at 1 p.m. on Monday, April 16, at The Peninsula Club in Cornelius, NC, so you still have time to sign up.
All funds raised from this year’s Swing Fore A Child’s Place Golf Tournament will go directly to A Child’s Place to support their crucial work with homeless children in Charlotte area schools.
Staff from the organization work in the highest-need CMS schools every day, they help ease the impact of being homeless on a child’s education.
They hope to meet the goal reached last year of $200,000 raised by the generous support of players and sponsors.
To sign up as a team, individual or to donate click the link below.
The filming of a movie spin-off of Downton Abbey is set to begin next year and in our opinion, we believe this Charlotte estate would be a perfect location! Perched amidst nearly 5 acres the home’s architecture and lush gardens were inspired by famed British architect Edwin L. Lutyens.
It seems like a lovely location for a historical period drama set in the 1920’s.
Unparalleled privacy abounds at this European influenced gated manor.
A magnificent two-story walnut paneled library would be the perfect backdrop and gathering space for British aristocracy. While the lower level could be transformed with movie magic into the servants living quarters during the post-Edwardian era.
Distinctive properties can generally involve longer sales cycles than mid-market and everyday level homes. This is particularly true for properties in unique or isolated settings, or for those with very distinctive and personalized features. The simple fact is that the subset of the population that can afford to purchase multi-million dollar and up trophy properties is a very small segment of the population. Move up the food chain to some of today’s international trophy properties which can sell for hundreds of millions of dollars, and there may be less than 200 people on the planet who can make that type of investment.
Is An Auction the Right Solution?
Here in North Carolina, where our ultra-luxury segment probably begins north of $2 million, the question occasionally arises as to whether or not an auction is a right solution to move a property, so let’s evaluate the pros and cons, as well as some recent results.
Two Main Types of Auctions
There are a couple main types of auctions, those with a “reserve price” (a minimum the owner will take the property or they won’t sell), or those sold “without reserve” (the owner has waived the minimum and agrees to take whatever that auction’s appetite for the property will produce at offering price).
Condensed Period of Making Home Available For Showings
Generally Pre-Qualified Buyers
Marketing Blitz To Qualified Buyers and Prior Mailing List
The general appeal of selling at auction includes the finality of hopefully being done as a seller (if sold without reserve, the home price garnered at auction generally means the selling of the home is moving toward a closing, pending a likely inspection by the buyer). An auction is a condensed period in which the home is marketed, may be open for a couple of weekends prior to, but otherwise reduces the hassle of having a home for sale and prepping it for showings over an extended period of time. Auctioneers generally verify the wherewithal to buy of all participants.
If Sold With a Reserve Minimum, A Property May Not Meet The Minimum
Sellers Typically Participate in Thousands of Dollars in Marketing Fees
Sales Prices Can Be 30% Or More Below Recently Listed MLS Pricing or Comparables
Perceived Potential Stigma Or Fire Sale Mentality From Some Buyers
While a no-reserve auction can certainly be appealing given the likelihood of being able to move on fairly quickly (many auction sales still require 30-45 days of inspections, etc. to get to closing), there are some risks and downsides to consider. First, if the house is sold with a reserve that the auction audience fails to meet, its’ back to square one for the seller, often after coming out-of-pocket significantly to fund the marketing for the auction. Additionally, some buyers arrive with the mentality that auction properties are being “fire sold” or in some way have been stigmatized, which could result in the property being sold at a discount to what it ultimately might sell for with a conventional realtor’s approach. Finally, in looking at a couple recent North Carolina results, sellers need to be realistic about how a property will perform relative to its most recently listed MLS for sale price.
Two recent sales of properties listed at the $3 million dollar level, brought no reserve auction prices of $1.68 million and $1.994 million, somewhere between 30 and 40% off their most recent MLS listing prices,and it is fairly common to see auction sold price points at 25% or more below a property’s recent MLS list price. Given this discount, some sellers may want to consider adjusting their price by 5-10% prior to see if they can attract an offer above that 25-30% or higher discount that recent auctions have come in with.
Auctions Can Be a Great Option
For a seller with the simple desire to move on quickly and no sensitivity to steeply discounted offers, auctions can be a great option. For those more sensitive to net proceeds, more conventional price reduction strategies for a currently listed property, may yield a premium over the longer term to auction results. It really comes down to the goals each seller has during the property sales process.