Copyright (c) 2008 corneliustoday.com. All rights reserved. http://www.corneliustoday.com/index.php?action=rss Cornelius Today Information en-us Sun, 05 Sep 2010 14:27:42 EDT http://www.corneliustoday.com/Simonini_Builders_winding_down_Cornelius_examining_towns_exposure-a-1632.html Fri, 03 Sep 2010 00:00:00 EDT Alan Simonini and Ray Killian Sept. 3—Cornelius: Simonini Builders will wind down operations, but the Homearama showcase of luxury homes in Cornelius is expected to go on as scheduled later this month and during October at The Preserve at Robbins Park. The company, which dates back to 1994, is expected to close by the end of the year, although there have been discussions around a third-party private investor getting involved. In a prepared statement, Alan Simonini, a Cornelius resident, said, “The catastrophic changes we’ve seen in the overall real estate market over the past two years could not have been anticipated and are unlike anything I expected to see in my lifetime.” The company, highly regarded both in the community and in business circles, has about a dozen homes under construction and almost two dozen spec homes for sale. Its projects include Christenbury Hall in Concord and The Preserve at Robbins Park in Cornelius. Neither Simonini nor partner Ray Killian could be reached for comment. The Town of Cornelius is looking at any work that remains at Robbins Park, as well as any bonds. Members of the town staff spoke to Killian on Friday and discussed Robbins Park and how the town could be affected. The Town of Cornelius and Simonini Builders collaborated on Robbins Park, which is adjacent to the Reserve at Robbins Park. Paving of the roads and other infrastructure improvements are nearly complete. http://www.corneliustoday.com/In_honor_of_soldiers-a-1592.html Wed, 01 Sep 2010 00:00:00 EDT Lillian Hunter, Miriam Whisnant and Rod Whisnant placed a wreath at the foot of the Confederate Soldiers Monument on the occasion of its 100th anniversary in August. The monument, on the property of Mt. Zion United Methodist Church, was unveiled Aug. 10, 1910 by a young girl at the time, Feriba Stough. http://www.corneliustoday.com/Chamber_fetes_new_members-a-1625.html Wed, 01 Sep 2010 00:00:00 EDT Lake Norman Chamber New Member Reception: Paul Wills, owner of EmbroidMe of Lake Norman, chats with Jim Harrison (right), the manager of the Cornelius Walgreens store. The new member reception is sponsored by Cornelius Today and Business Today. http://www.corneliustoday.com/Home_outlook_Is_the_downturn_finally_over-a-1609.html Tue, 31 Aug 2010 00:00:00 EDT The costliest listing for a house in Cornelius is this one on Jetton Road. Carlyle Properties has the 10,000 square foot home priced at $3.850 million. With six bedrooms, seven full baths, a pool and an elevator, it may be a bargain: The price has been recently cut from $4.1 million. The lowest priced home in Cornelius is this all-brick ranch priced at $78,000 on South Hill Road in the Smithville community. The house has three bedrooms in almost 1,000 square feet of space. It has a handicap ramp. Stacy Warren of Coldwell Banker United has the listing. With the summer selling season ending, Cornelius home prices seem to have stabilized 20 percent or more below their peak in 2007-2008. How long it takes to get back to 2007 levels is open for debate. But showings in most price ranges are holding up, indicating that the fall will show gains from year-ago levels, both in terms of pricing and number of homes sold. CARLYLE “Houses are still on sale and interest rates are lower than they have been in 50 years,” says Lance Carlyle, president of Carlyle Properties in Cornelius. “Now is the time to buy, if you have the downpayment.” There’s the rub. Banks have cracked down on mortgage lending, putting parameters in place that haven’t been seen for years. In the high end, it means down-payments of 20 percent are the norm, as well as 20 percent cash on hand after closing, according to Reed Jackson, of Ivester-Jackson Distinctive Properties in Cornelius. For a house in the $1.7 million range, it means having around $700,000 in cash. At the other end of the pricing spectrum, home prices are gaining their footing even after the $8,000 tax credit expired in May, which flattened prices from the entry-level range up to roughly $500,000. JACKSON “Once that expired, showings in the $300,000 to $500,000 range actually fell below that of the $500,000 to $1 million range, and what you’ve seen nationwide is a flattening in the lower ranges while the luxury market has generally had a solid summer for units sold,” Jackson says. Cornelius is the rara avis for home prices, with an average home value of $229,600, according to Zillow, vs. $134,500 statewide. Matthews, at the other end of Mecklenburg County, clocks in at $199,100, according to Zillow. Jackson says it can be easier to sell the same price house in Cornelius than adjacent towns. “Cornelius is highly desirable. From a showing activity standpoint, Cornelius shows at a 10 percent higher rate than Mooresville and Davidson,” says Jackson, a former marketing guy at a Fortune 500 company. “Amenities are more spread out in Mooresville, Cornelius schools are perceived as being strong,” he says, “while Davidson is a more specific taste, people who want to return to that small-town, village kind of atmosphere.” As they say about politics, all real estate is local. Another truism is that the air gets pretty thin the higher one climbs the price ladder. Here’s a look at four different price ranges in Cornelius and what to expect if you’re thinking about putting your house on the market or buying. $150,000 to $250,000 Showings are down, according to Jackson, with viewings with realtors averaging once or twice a week right now. As of Aug. 18, there were 86 houses for sale, with 45 closings during May, June and July. Nineteen homes were under contract as of Aug. 18. The number reflects more than a month of selling activity, based on closing times. So, the 19 under contract indicates a flattening out of the sales trend, Jackson said. It’s an inexact science, of course, but sales are traditionally brisk in the “meat of the market,” May, June and July. Jackson is forecasts roughly 10 closings per month in early fall. The data indicate a six-month or more supply of homes in this price range. “The absorption rate typically slows during the second half of the year. It ebbs and flows because of the seasonality of selling, so taking solds at the meat of the market in May-June-July and applying it to the rest of the year is optimistic,” Jackson said. $250,000 to $500,000 There was an inventory of 48 Cornelius houses in this price range as of Aug. 18, with 36 deals closing between May 1 and July 30. As of Aug. 18, nine homes were under contract in this price range. “It’s pretty clearly decelerating,” Jackson said. If you’re a seller, expect showings on the order of one a week. “We had a buyer bubble that had developed over the last 18 months. The tax credit pulled people in,” Jackson said. $500,000 to $1 million In the luxury price ranges people with the money saw a buying opportunity as the recession that began in 2008 showed every sign of bottoming out earlier this year. Showings in the price range are also running in the once per week range. There were 71 active listings in this price range as of Aug. 18, with 24 closings in May, June and July combined, or eight per month. As of Aug. 18, there were 18 pendings, reflecting decent demand in a segment that benefits from corporate moves. Jackson is looking for “solid activity” in this price range moving into the early fall. “You’ll continue to have houses put under contract through the holiday season. Prices in this range have stabilized; they’re off the highs, but we’re starting to see homes trade within a predictable price range,” Jackson said. Foreclosures and short sales typically wreak havoc with prices and neighborhood trends. (see sidebar, page 5) $1 million and up There were 67 active listings over $1 million in Cornelius as of Aug. 18. There were seven closings in May, June and July in this price range, with five pricing out at less than $1.3 million and two recording at more than $2.5 million. Five deals were pending on Aug. 18: three houses under $1.3 million and two over $2.5 million. The tough price range for sellers is $1.3 million to $2.5 million. • • • Is it a good time to sell? “While it depends on your segment of the market, your flexibility and your realism as to where the market is right now, if you are willing to accept the fact that your house is not worth what it was in 2008, it’s a perfectly fine time to list your house,” Jackson said. Prices could recover in three to five years, longer for some homes in the higher price brackets. “Housing is not an exact science, but if you bought a foreclosure in 2008 and paid below market, you may not be down at all,” Jackson said. http://www.corneliustoday.com/CorneliusLake_Norman__Lions_Club_helps_provide_school_supplies-a-1617.html Tue, 31 Aug 2010 00:00:00 EDT Former Cornelius Elementary School principal and Lions Club member Gene Davis presents Principal James Garvin and Assistant Principal Elizabeth Brammer and two students with school supplies. The Cornelius/Lake Norman Lions Club has 12 members and meets on the first and third Tuesday at 7 p.m. at The Cookhouse Restaurant. http://www.corneliustoday.com/Poker_run_Sept_18_benefits_Veterans_Monument-a-1611.html Thu, 26 Aug 2010 00:00:00 EDT A poker run to benefit the Cornelius Veterans Monument will be held Sept. 18, with registration starting at 8 a.m. at the site of the future memorial for hometown veterans. The ride starts at 9 a.m. with the last car or bike leaving at 10 a.m. The future site of the Veterans Monument is adjacent to Town Hall, near the intersection of Catawba Avenue and Main Street. The ride will end at Mac’s Speed Shop on Liverpool Parkway. To register a bike or car is $20, with $10 for each additional passenger or poker hand. The poker run includes five entertaining stops, a scenic country ride and prizes for best and worst hands. http://www.corneliustoday.com/Visionaries_wantednbspDream_phase_of_Navigate_Cornelius_under_way-a-1607.html Mon, 23 Aug 2010 00:00:00 EDT Aug. 23: The visioning phase of Navigate Cornelius—an effort to produce a Comprehensive Master Plan—is under way. Five committees have been identified for the third phase of the process which is expected to produce a blueprint for future growth in Cornelius. Theme Committee members will meet from September through January. The Theme Committees are: 1. Economic Development: Focus on the diversification of the Town’s tax base; bringing in new businesses; reducing vacancy rates 2. Placemaking & Town Services: Focus on the type of services that affect the town, including police and parks; building & maintaining the town’s identity; maintaining a sense of community 3. Mobility: Focus on transportation related items including roads, bike lanes and greenways. 4. Community Services: Focus on such services as education, library and healthcare provided by other agencies and organizations. 5. Leisure & Commerce: Focus on the role of lakes in the town, as well as retail, entertainment and general commerce. Visioning workshops will be held in September. Each workshop is expected to last 2 hours. Workshops are currently scheduled for Tuesday, Sept. 14; Wednesday, Sept. 15; and Thursday, Sept. 16. Two of the workshops will be held in the evening and one during the day. More info: www.navigatecornelius.org http://www.corneliustoday.com/Her_business_is_for_a_good_cause_mdash_others-a-1579.html Fri, 20 Aug 2010 00:00:00 EDT Stefanie Timmerman and Elise Redmond Elise Redmond made it her business to fund a non-profit that she runs in memory of a friend. Redmond wants to grow her Cookies For A Cause, a non-profit that was started in 2007 when best friend Kristi Crates lost her battle with Hodgkin’s disease at age 35. Redmond supported her long-time friend, who she describes as a “goofball” who was always making jokes. Crates had gotten tired of talking about dying, so the two fiends concentrated on living, and giving to others. Cookies For A Cause is a Cornelius charity that reaches out to other charities to help raise money and support for them. It started with the idea of promoting participants to host their own cookie exchanges anywhere in the United States, put money in a cookie jar and donate the cookie jar proceeds to their favorite charitable cause. When Crates died, Redmond’s business, Divas, was born and will fund Cookies For A Cause. Originally, Redmond, who lives on Peninsula Club Drive, held fundraiser galas and other events to raise money for various charities. Redmond hopes to make $25,000 that will be diverted to the non-profit. “Cookies for a Cause now donates very little,” Redmond said. “We’ve been a poor charity. So that’s how Hot Tops got started.” Hot Tops are trendy bottle cap necklaces popular with all ages. Redmond, a structured finance/commercial real estate attorney, retired in December after practicing law for 16 years to spend more time with her two young children. She’s been working on Divas for three years. It’s really taken off now, she said, with the addition of a sales representative and the bottle cap necklaces. The bottle cap necklaces can be ordered with a design spelling out your cause. Help Haiti, peace signs and birthday greetings are some of the messages that have been ordered. The Hot Tops necklaces can be ordered online, www.cookies4acause.com, along with other Divas products — all geared toward the trendy and glamorous. The necklaces also are sold in local boutiques and to schools for fundraising. Redmond and sales executive Stefanie Timmerman of Huntersville predict the next trend will be necktie onesies and T-shirts. Redmond said her biggest challenge in running a business is time. “I stopped working to spend time with the kids, not be on my Blackberry and email,” the mother of Gracie, almost 4, and Cade, who turned 1 in April. Now she gets up early — before her children — to have email time. http://www.corneliustoday.com/The_greening_of_Cornelius_one_100000_roadster_at_a_time-a-1603.html Fri, 20 Aug 2010 00:00:00 EDT Tesla Motors, based in Palo Alto, Ca., says its all-electric roadster produces 288 horsepower. It can accelerate from 0 to 60 mph in 3.7 seconds and travel 245 miles on a single charge without producing any tailpipe emissions. http://www.corneliustoday.com/Biting_off_more_than_you_can_chew-a-1599.html Wed, 18 Aug 2010 00:00:00 EDT This picture, far right, was taken by Emily Sykes, 11, at right, of Collegeville, PA. She is visiting her grandparents, Fred and Cynthia Pennekamp who live on Spinnakers Reach Drive inCornelius. She discovered these fish when she returned from her sea doo ride on Lake Norman.