This home has a Traditional Exterior with a Fabulous Open Floor Plan. This fenced lot is virtually flat with a Mature landscape & is Just down from the COMMUNITY  POOL. The Two Story foyer is overlooked by a loft on the upper.  No Carpet on the Main. Formal Dining with Moldings and Formal Living/Study.  The casual living areas are open and of windows to provide natural light with a Great Room, Bay Window Breakfast Nook, and Kitchen. The Great Room offers a great Focal Point with the Gas Log Fireplace and includes Surround Sound.  The Kitchen offers a tile backsplash, upgraded cabs with lighting above,  a Desk space and an island/bar.  All Bedrooms  are located on the upper level including this large master suite with tray ceiling, His/Her Closets and a Private Master Suite Bath.  The bath is equipped with a dual vanity, separate shower & garden tub. The laundry room is located on the second floor with cabinetry.  Full Bath 2 also includes a dual vanity & don’t miss the powder room on the main.  The Recreation Room is situated over the garage and includes a perfect spot for window seating and playing a game of pool. 

The Gates is a Large Community just down from the New Hwy 16, Business 16 and Hwy 73.  Three Entrances with Monuments.  Two Community Pools with Playgrounds and Recreation Areas.  Street Lights and Curb and Gutter.

Michelle Nantz –DenverOffice

Title: Broker/REALTOR
Work Phone: 704.483.1518
Work Fax: 704.483.3553
Cellular: 980.722.4971

Address: 1818 Hwy 16 N. Denver, NC 28037
Email: Michelle@LKNagent.com

There are many qualities and skills that go into being an excellent real estate professional:  integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills, and a high-quality professional network ~ all of which are hallmarks of Michelle Nantz.

In 2003, Michelle began her career in real estate, after a successful career in restaurant and hotel management with her last position as Regional Director of Operations running 56 hotels throughout two states. She owes her success in real estate and management to her expertise in people skills, managing, negotiating, and follow-up.  However, it is Michelle’s dedication to quality service that she ultimately credits her success.  Michelle shared, “In my experience as aLakeNormanreal estate professional, I’ve found that providing the very best service is essentially about putting my clients first. This means keeping myself accessible, being a good listener as well as a good communicator, and responding quickly to their needs.”

This “client first” philosophy combined with continual personal improvement and keeping up-to-date with the latest technologies is a cornerstone of both Michelle’s and Lake Norman Realty’s business philosophy.  In addition to Michelle’s extensive real estate education and her experience in the local market, she is also an Accredited Staging Professional^®,which brings additional value to marketing her clients’ homes.

Michelle and her family have made theLakeNormanarea their home for over 10 years.  In her rare leisure moments, you’ll find Michelle with her three children and husband, or unwinding with gardening or reading.   “I live and work in this community and only have the best interests of our community and its members in mind,” says Michelle. Her community activities include participation in Denver Days, Relay for Life and support forChristianMinistriesand area schools.

Beyond the Headlines: Recognizing Opportunities in Today’s Real Estate Market

By Abigail Jennings

It never fails. Wherever I go I am asked, “So, how’s the market?” I always enjoy

answering this question and discussing the “new normal” of today’s real estate market.

Our market today offers historical opportunities rich with possibility.

Perhaps one reason I’m asked this question so often is that news reports have a way of

confusing the issue. Many times we hear sound bites announcing definitively, “Home

prices on the rise,” or, ”Sales were up last month,” only to hear a seemingly conflicting

report the very next week! When evaluating what we hear on the news, it is critical to

listen for the data behind the report. Were the statistics local or national? Did the

numbers refer to units sold or the total volume of sales? Was the report based on the

average or median sales price? Often, the news report is so short it fails to mention these

very important pieces of information, rendering the headlines somewhat hollow to say the

least. The cumulative effect of these often-too-superficial reports is to make the real

estate market seem more volatile than it actually is.

In a nutshell, our real estate market continues to be affected by the Wall Street downturn

our country experienced several years ago. The 100% loans made to homeowners at the

height of inflated home prices, and the job loss created by the ripple effects of the

banking crisis have both been key components defining our current housing market.

Most homeowners who are secure in their jobs and homes do not fully understand the

repercussions of their neighbors’ misfortune on their home’s value. Unfortunately, the

sale prices from these distressed sales become the market comparables for all the homes

in the community and continue to lower home prices. Until the thousands of pending

short sales and foreclosures become finalized, it will not be possible for our home prices

to finally settle.

With that being said, I hope I did not scare any potential buyers or sellers off! Although

this news paralyzes some into steering clear of real estate today, in fact, it is quite the

opposite. Now is truly a phenomenal time to buy. Growing up in the Lake Norman

region, I always heard people talking about missed opportunities to buy a waterfront lot

for a few thousand dollars in the 1970’s. Today, I believe our real estate market offers

possibilities similar in their historical importance. Even homeowners who are waiting to

sell their home hoping for more equity in the future may want to rethink their delay in

entering the market. Today’s money will buy “more house,” and when combined with

interest rates at extraordinary lows, the opportunities are truly historical.

Speaking of history, let’s take a look back in time and see what we could have gotten in

2006, 2008, and 2010 in one of Lake Norman’s finest luxury waterfront communities. In

2006, $1.75 million would have bought a gorgeous home with a total square footage of

around 6500. In early 2008, considered by many to have been the peak of real estate

values, a neighboring home of 5300 square feet sold for almost the same money (just

over $1.7 million). In late 2010, the most recent comparable home on this street sold for

$1.4 million. But this one weighs in at over 7500 square feet, considerably more

spacious than either of the first two examples. And this pattern is fairly consistent in all

neighborhoods and price points throughout our region over the same time period. As you

can see, your money will buy you more in today’s real estate market.

For those of you with something a bit more luxurious in mind, a new property has just

entered our local real estate market which further illustrates my point. Chateau Lyon

offers not only the grandeur of scale, but also lavish attention to details beyond anything

else offered in our region. Built by furniture entrepreneurs Larry and Jane Hendricks,

this home cost over $22 million to build with elements and architectural features from

around the world. Situated on perhaps one of the loveliest sites in Alexander Island, a

cozy and exclusive neighborhood on the shores of Lake Norman, Chateau Lyon’s views

are as breathtaking as the home itself. The Hendricks spared no expense when building,

importing pinion stones hand-carved in the fields of Mexico, eighteenth century

handmade roof tiles from France, reclaimed 250 year-old heart pine plank flooring,

Biblical stone floors from the Middle East, as well as original paintings, gold-leaf

paneling, and fixtures directly from a 1901 reproduction of Marie Antoinette’s summer

home in Lyon, France; and much, much more. Although many of the home’s details are

precious antiques, this home is an astounding modern wonder with every “smart home”

feature you could imagine; creating the ultimate in the best of both worlds.

A rare gem of a home, Chateau Lyon captures the heart and mind of all who enter its

awe-inspiring halls. Its magnificent rooms each embody the spirit of this grand estate,

which feels like a visit abroad and a step back into history. It’s a historical bargain too,

as the once $22,000,000 castle is now offered at $8,000,000. So if you’re considering

calling Chateau Lyon home, don’t let the headlines dissuade you. After all in 30 years,

you don’t want to look back with regret on your missed opportunity to own a waterfront

castle for a mere $8 million.

Over the past few years, thousands of North Carolinians have lost their jobs due to a slow economy. Many homeowners – perhaps you are one of them – have found it very difficult to keep making their monthly mortgage payments and are in danger of losing their home. The N.C. Foreclosure Prevention Fund offers a Mortgage Payment Program to North Carolina homeowners who are struggling to make their mortgage payments due to job loss through no fault of their own or other temporary financial hardship, such as a divorce, serious illness, or death of a co-signor. Services are provided by HUD-approved counseling agencies statewide.

You may qualify for the Mortgage Payment Program if you are: •unemployed •earning less than you have in the past •facing a temporary financial hardship (for example, you have lost income due to divorce, separation, serious illness, or death of a co-signor) •have a good mortgage payment history prior to your recent income loss or financial hardship To participate, you may be behind (or at risk of getting behind) on your payment, or in foreclosure. To those who qualify, the program offers zero-interest loans up to $24,000 to cover your mortgage and related expenses for up to 24 months while you search for or train for a new job. If you live in one of the 50 counties with the highest unemployment, you may be eligible for up to $36,000 over 36 months.

You may be able to get help in one of three ways: •one-time assistance to bring your mortgage current •short-term assistance while you are looking for a job •long-term assistance while you participate in an approved job retraining program When your application is received and your eligibility is confirmed, the N.C. Housing Finance Agency may place a temporary stay-of-foreclosure for up to 120 days so that the company that owns your mortgage cannot foreclose on your home or take other legal action while your Mortgage Payment Program loan application is under review.

If you qualify for the loan, the N.C. Housing Finance Agency will make your mortgage payment directly to your loan provider or bank. At the end of the assistance period, you will resume making your mortgage payment. If you remain in your home for 10 years, the loan will be forgiven, and you do not have to pay it back. After you have lived in your home for five years, the loan is reduced by 20 percent a year for years six through 10 until you owe nothing. You repay the total amount only if you sell or refinance the home in the first five years, and only if the sale proceeds are sufficient to repay it. Please note that if you refinance your property for better loan terms, we will subordinate our second mortgage; however, if you refinance to consolidate debt or take out cash, the second mortgage loan must be repaid.

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When lenders agree to do a short sale on real estate it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.

If you are in a situation where a short sale would make sense, you should speak to an attorney and an accountant to understand how a short sale will affect you legally and financially.

Except for certain conditions in the Mortgage Forgiveness Debt Relief Act of 2007, be aware the I.R.S. could consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid.  This amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgement or claim.

I found a pretty comprehensive list of what to do and expect when dealing with a short sale on About.com.  Please note that every lender has different requirements.

“

• Call the Lender
  You may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the “real estate short sale” or “work out” department, you want the supervisor’s name, the name of the individual capable of making a decision.
• Submit Letter of Authorization
  Lenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:
  • Property Address
  • Loan Reference Number
  • Your Name
  • The Date
  • Your Agent’s Name & Contact Information

• Preliminary Net Sheet –

This is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Your closing agent or lawyer should be able to prepare this for you, if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale.

• Hardship Letter
  This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.
• Proof of Income and Assets
  It is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lenders are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.
• Copies of Bank Statements
  If your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it’s probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.
• Comparative Market Analysis
  Sometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a Comparative Market Analysis (CMA). Your real estate agent can prepare a CMA for you, which will show prices of similar homes:
  • Active on the market
  • Pending sales
  • Solds from the past six months.
• Purchase Agreement & Listing Agreement
  When you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions and to refuse to pay for certain items such as home protection plans or termite inspections.

Now, if everything goes well, the lender will approve your short sale. As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request. Credit report status is not always negotiable.”

This can often be a stressful process, choose a real estate agent that is willing to go the extra mile to help with this process and has experience.  The same goes for the accountant and attorney.

Having sold many short sales, I can help you with the information necessary to provide to the lender and point you in the right direction with a list of accountants and attorneys to help.  Don’t take it all on your own shoulders.  Especially when there are people here to help.

MUST SELL! PRIVATE BOAT SLIP W/LAKE ACCESS BEHIND THE HOME. Full Brick Home on a Park Like 1/2Acre Lot off a Cul-de-sac. Dramatic Entry w/Gleaming Hardwoods, Attractive Trimwork & Soaring Ceilings. Formal Dining & Study. Cozy Great Room w/Tray Clg opens to Bright Kitchen w/Rich, Dark Cabs & Granite w/Bay Window Brkfst. Lg Pantry, Island, Desk Area. Master On Main w/Priv BA & Sitting Area.  Double Tray Ceiling in the Master. Lavish BA Shower, Jetted Tub, Two Separate Vanity Areas and Lg WI Closet. Two Bdrms w/Priv. Full BAs Up. Plus Two Additional Bedroom and Full Hall Bath. Recreation R oom. One of the Best Values in Sailview w/Lake Access Boat Slip. Covered Front Porch and Deck on Rear. Side Load THREE Car Garage. Tall Crawlspace – Perfect for Lawn Mower Storage and Such.

Full Brick Ranch with Over Sized Two Car Garage and a Full Unfinished Basement on OVER 3 Acres. Rich Hardwood Floors Run through The Entire House (No Carpet). The Formal Dining Room flanks the Foyer. The Great Room features a Gas Log Fireplace with Mantle & Cathedral Clg. Tons of Crown Molding. Gorgeous Kitchen with Tile Splash, Granite Counters, Large Island, Breakfast Nook, Stainless Steel Appliances and Desk Area with Display Cabinets. Partially Sheet Rocked Basement and Plumbed for a Bath. Walk out with Patio. Screened and Covered Porch in Rear and Covered Porch in Front. Large Master Suite with His/Her WI Closets. Two Granite Topped Vanities, Attractive Tile Lined Jetted Tub. Granite & Tile in the secondary bathroom. Tile in Laundry/Mud with Sink & Ample Cabinetry. Attractive Hardwoods and Manicured Landscape make this a Scenic Lot.  Simply a Chic Design!