Lake Wylie and and US Real Estate Market Report

The steadily improving US economy, sustained job growth and rising confidence that now is a good time to buy a Home should pave the way for an increase in existing Homes sales in 2018 according to forecasts by the National Association of Realtors.

Nationally existing Home sales will finish at a pace of 5.47 million the best since 2006 but still about 1.1 million less than that all-time best mark.

The lack of inventory has pushed prices up 48% from the low point of 2011, locally the Steele Creek area remains one of the hottest markets in the Country, the population is expected to jump 20-25% over the next 5 years, and for most of us originally from the area this is both a blessing and a curse.

Closings in the past 6 months are at 834 with 211 under contract and currently 221 listed for sale.

Prices on Waterfront Homes have steadily gone up and finding anything under $600,000 is tough sailing. Homes for sale are at an all-time low at this writing of only 78.  Median price is over $750,000 all record breakers.

Enough of the boring stats, if you’re planning to buy a Home or Condo now should be it, sitting on the fence so to speak is going to price you out of that dream Home. Quarterly prices have been increasing in some areas by 8% in the Charlotte area.

Buyers in the region are flocking to areas closer to Uptown Charlotte and prices are skyrocketing. Commute times and just being closer to the action seem to be the driving force. As traffic worsens that trend will surely continue and speaking of traffic it seems that it increases daily.

As a former member of the York County Planning Commission I always said the reason people left their former Cities and Towns and moved to this area will be the same reason they leave this area, Taxes, traffic, crime and poor planning.

David has been a Real Estate Broker, Developer and Contractor in the Charlotte area for 40 years and is currently Principle Broker and Partner of Lake Wylie Realty, David and his wife Karen live on Lake Wylie and are both Charlotte natives.

Copyright 2017 David McCorkle

Lake Wylie Gem: 20 Duck Hook Circle

Lake Wylie is one of the most sought-after and conveniently located towns in the Charlotte region, offering lake community living that is a just a short drive from the bustling metropolis of Charlotte.

An incredible home is on the market in Lake Wylie, South Carolina, that totals over 4,300 square feet with three bedrooms, four full bathrooms,and plenty of additional flexible space.

This single story home features vaulted ceilings, wood floors, lots of entertaining space, a wrap-around deck and more. The master suite features a loft that is currently being used as an office, and the basement is completely finished and has access to the outside.

Situated on nearly half of an acre, the property features a large driveway as well as plenty of yard space and an attached two-car garage. Homeowners can take advantage of not only low South Carolina taxes, but also all that the Lake Wylie community has to offer. There is an endless amount of recreational activities available, including fishing, boating, kayaking, hiking, picnicking and more. Plus, development continues to be boom in the area with an ever increasing amount of dining, retail and entertainment options.

This amazing property at 20 Duck Hook Circle is currently listed at $399,000, and for more information on this home or others like it, be sure to visit LKWRealty.com.

Open House: 14 Woodvine Lane in Clover

An absolutely stunning home in the River Hills neighborhood is on the market at 14 Woodvine Lane, and you won’t want to miss it. This spacious home with four bedrooms and three bathrooms totals almost 2,100 square feet.

Everything in the home has been renovated and updated to perfection. There are hardwood floors throughout the home, a
fireplace in the family room, vaulted ceilings, crown molding, beautiful stainless steel appliances, large walk-in closets, bathrooms with modern finishes, carpeted bedrooms, and a large deck. The home is situated on a third of an acre and features plenty of trees and yard space.

River Hills is a desirable gated community with a country club, golf course, full-service marina and more, and it features resort-style living all year round. Furthermore, River Hills is located in Clover, and thus, residents can take advantage of one of the best school districts in the state, as well as South Carolina’s lower taxes. Plus, the neighborhood is conveniently located to all of the recreation that Lake Wylie has to offer.

This family-friendly neighborhood and home are waiting for you to make it yours, and at $359,000, interested buyers will want to act quickly.

Be sure to check out our Open House this Saturday, March 25, from 1 PM to 3 PM at 14 Woodvine Lane. This is a beautiful one-of-a-kind opportunity that you will not want to miss.

For more information on this property, visit LKWRealty.com.

Neighborhood spotlight: York’s Palm Tree Cove

screen-shot-2016-11-20-at-4-17-08-pmPalm Tree Cove, located in York, South Carolina, is a beautiful heavily-wooded Community that borders Lake Wylie and features charming new construction homes on lots that range in size from three quarters of an acre to a massive three acres.

The community features “casual yet sophisticated living” with easy access to nearby shopping and dining, as well as plenty of recreational options. Homes here are not only beautiful, but they are energy-efficient, as well.

There are currently seven homes on the market here representing 5.6 months of screen-shot-2016-11-20-at-4-33-58-pminventory. This indicates that we have a very balanced market in Palm Tree Cove, and the little fluctuation in the average price per square foot of homes indicates that this is a stable market, as well. The months of inventory in Palm Tree Cove is only slightly higher compared with that of the town of York as well as of York County, which both have 4.8 months of inventory.

With the recent dip in the average price per square foot as well as a recent increase in screen-shot-2016-11-20-at-4-33-53-pmthe average seller discount, now may be a good time for buyers to take a look at this beautiful neighborhood that not only has many fantastic community features, but also provides residents the opportunity to take advantage of lake living, lower taxes and a fantastic school district.

Check out Palm Tree Cove today!

York County development is thriving

screen-shot-2016-10-09-at-8-38-29-pmThe Lake Wylie real estate market and local economy continue to thrive as the area welcomes new businesses as well as new housing developments.

York County is moving forward on the development fast track with plenty of new restaurant openings, grocery store openings and residential construction on the horizon in Lake Wylie and Fort Mill. There have been a lot of discussions between county staff and property developers with regard to what’s next.

A new single family subdivision is in the preliminary planning stages at SC 49 and Daimler Boulevard on more than 430 acres of land owned by Crescent Communities. Moreover, 5800 Charlotte Highway is a possible new site for a gas station, convenience store and used car lot.

Furthermore, Lakeside West Center will soon be home to a multi-tenant retail center at 429 Blucher Circle. A new restaurant could be joining the shopping plaza at 131 Evergreen Road, and a Captain D’s may go in at the Shoppes at the Landing. The Pleasant Road area of Fort Mill is also going to be home to a new German-based Lidl grocer.

As far as recreation is concerned, a new swim center is proposed for 3354 Highway 160 West on a seven-acre lot, and a gymnastics center is proposed for Maxwell Road off of Pleasant Road in Fort Mill on two and a half acres.

There is more than enough to keep your eye on here, and for more details and information on all of the exciting new commercial and residential developments happening in Lake Wylie, Fort Mill and the surrounding area, read the full article at Heraldonline.com.

http://www.heraldonline.com/news/local/community/lake-wylie-pilot/article105247311.html

New YMCA set to open in Lake Wylie

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If you are a Lake Wylie resident, get ready to break out your sneakers and your workout pants.

Lake Wylie is getting a brand new, 73,500 square foot YMCA near Crowder’s Creek Elementary School that will be opening in mid October. The $17.8 million Clover School District Community YMCA is one of five projects that comprise a $99 million Clover School District construction plan.

The facility will feature a stunning pool and fitness center that will be a part of what will possibly be considered one of the nicest Y’s in the country. In addition to two indoor pools, there will also be a 50-meter Olympic sized outdoor pool, two racquetball courts, a basketball gym with a second-level walking track, several weightlifting rooms and plenty of exercise space, as well as a multi-purpose function room.This new facility’s pool will be home to the Clover High School swim team as well as the Kicking With Confidence program that aims to provide swimming lessons to every 4th-grader in the district. After-school care will be offered, as well as plenty of activities for kids and adults alike.

The official ribbon cutting ceremony for the Clover School District Community YMCA will take place from 5 to 7:30 PM on October 12, and community tours are planned for October 13-16 before the official opening of the facility at 5 AM on October 17.

For more details on the new Y in Lake Wylie, visit heraldonline.com for the full article.

 

Major development is happening in York County

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Exciting things are happening in and around the Lake Wylie area, and if you have been thinking about moving to the area, now may be the best time yet.

Development plans are in full swing in York County, with major residential projects on the horizon in Lake Wylie, and plenty of commercial construction happening in Fort Mill, as well. There are currently several hundred acres of land up for review for new construction plans across the region.

The southwest corner of US 21 and Gold Hill Road occupying almost 25 acres is tentatively planned for four commercial 30,000-square-foot buildings, plus another 20,000 square-foot building, as well as plenty of parking.  The property is currently zoned for residential use but rezoning efforts are in the works. This will be big!

There is also a residential subdivision in the planning stages in Lake Wylie on a piece of property owned by Crescent Communities, a very prominent developer. The proposed site is located at SC 49 and Daimler Boulevard, and plans include the development of single family homes.

There are also plans for an apartment complex at the corner of SC 49 and Senator Road, just east on Mill Pond Road. Furthermore, another car wash could also be moving into the Lake Wylie area on a 15 acre lot on SC 49.

So much growth and development throughout York County shows signs of a strong economy here as well as it being a desirable place to live. As the community grows and more residential options become available, the business community will also continue to thrive. For more details on the projects currently underway in Lake Wylie and Fort Mill, read the full article at heraldonline.com.

 

Fort Mill’s Main Street is getting another revamp

Screen Shot 2016-07-17 at 5.05.53 PMA lot of commercial real estate development is about to be underway in Fort Mill on Main Street. Definitive plans are still in the works and there is no confirmation as to the details of the storefronts, however significant change is on the way.

The corner of Main Street and Confederate Street is home to six parcels of land, as well as a parking lot, all on three quarters of an acre.

Current storefronts include the former Knife Shop, Halcyon Hills Photography and Dave’s Comics. The 8,000 square feet of retail space and has been for sale for a while now, and three of the four properties listed are currently under contract.

The owner of the Knife Shop unfortunately passed away earlier this year, thus the store is closed and not reopening. Dave’s Comics is still open and has not received notice of needing to vacate, however the store’s s website discusses closing and talks about a new comic book store that will be potentially opening nearby. Another comic shop is also opening off Main Street this fall, called Nikelspot Comics.

In recent years, Main Street in Fort Mill has seen the addition of restaurants and retail space, as well as new businesses and apartments within walking distance. The sale of and construction on the property at the corner of Main and Confederate Streets would mark the beginning of the next wave of redevelopment here. Plus, earlier this summer, Old Center Theatre on Main began undergoing a major conversion that will ultimately become more than 6,000 square feet of loft style offices and nearly 7,000 square feet of either retail or restaurant space.

For the full article on the Fort Mills Main Street redevelopment, check out heraldonline.com.

 

Fort Mill has a new huge development project on the horizon

Screen Shot 2016-06-06 at 8.10.08 PMFort Mill is undergoing quite a bit of development as 2,900 more homes and apartments are planned along Spratt Street and Fort Mill Parkway. John Spratt, who owns more than 700 acres at the site, presented a plan with partners on Wednesday night to the Fort Mill Town Council to add residential, commercial and recreational space in a new mixed use development there.

The hope is that such land development will be part of the solution to continue to develop and improve Fort Mill, and it will contribute to securing its future. The plan would take over approximately 688 acres along the bypass. The land there would be rezoned from light industrial to mixed use in the town. Another 23 acres currently zoned for residential use would be rezoned to mixed use. Then a development agreement would allow for up to 1,700 single-family homes, up to 1,200 “other residential” units, between 250,000 and 500,000 square feet of commercial space, more than 60 acres of park and recreation space, more than 60 acres of open space and approximately three acres to expand the nearby wastewater treatment plant.

The plan would not happen overnight, as a 20-year buildout is anticipated with the hopes of selling the land to a developer in early 2017. This huge and record-breaking development project could potentially bring about 900 more new residences than is currently provided by the Massey and Waterside subdivisions combined.

As a means for controlling traffic and a need for more schools with so many new residences, the planning commission is recommending to require at least 15% of the residences be age restricted to seniors.

Town Council will have the final say on the annexation of the land, the rezoning and development agreement at a public hearing expected to take place on June 13.

Previously proposed large residential projects met with opposition because rezoning without  annexation would impact the town without providing tax revenue. This proposal, however, is different, as the largest part of the project is zoned light industrial, therefore not allowing for residential use. However, there is still some proposed zoning for residential development, which many are happy to see. Residents in particular are looking forward to more athletic field space as well as the opportunity for property owners to develop land how they see fit.

The plan still needs a little bit of tweaking, as well as approvals from Town Council and the public hearing. But all in all, it is looking good for Fort Mill.

For more details on the project, read the full article at heraldonline.com.

 

Spotlight: The Vineyards on Lake Wylie

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A beautiful manicured lawn surrounds the lighted entrance to The Vineyards.

The Vineyards on Lake Wylie is a single-home and condominium community that offers waterfront living while still being minutes from Charlotte Douglas airport, Uptown and historic downtown Belmont.

Located west of the airport on the peninsula adjacent to Belmont, The Vineyards is just south of Wilkinson Boulevard and west of I-485.

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Waterfront home sites with docks awaiting building!

Have no fear of airport noise! With flight paths traveling parallel to the neighborhood, there are no low-flying aircraft over The Vineyards to disturb your peace and quiet!

Including a great location on the water and near the city, the neighborhood offers waterfront homes and a 50-slip marina for boat storage.

Neighborhood amenities include a dog park, walking trails, boat slips and docks, playgrounds, pool with water slide and clubhouse with community room.

The D.R. Horton community, which started going up in 2009 with the condominium construction, is geared toward both families and empty-nesters with two distinct neighborhoods.. Though not age restricted, one section features ranch homes or master bedroom down plans for active adults. Lawn care is included in the HOA fees for those homes.

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A walking trail meanders past the resident boat slips.

The Napa Cottages, Kenwood Villas and Salinas Estates. The homes range in size from 1,356 square feet to 2,755 square feet and start in the $230,000s. Kenwood Villas are attached residences, with 4 homes per building and 2-car garages. There are 6 ranch plans for single-family, detached residences.

In its family-oriented neighborhood, The Vineyards has 8 2-story home plans ranging in size from 2,500 square feet to 3,205 square feet. Prices start in the $250,000s.

Calistoga is the neighborhood’s larger family floor plans that start at 2,560 square feet and $249,000. All the plans have 4 bedrooms and attached 2-car garages. Most plans include a large first-floor family room and 2nd floor bonus space. The Cambridge plan offers a third level and expands the home to 6 bedrooms and 2 bonus spaces.

Waterfront properties currently listed on The Vineyards’ site are priced from just under $451,000 to $536,000.

There is no sales data available on the single-family home portion of The Vineyards yet, however, the townhomes are selling at an average of 1.7 per month during the last 12 months for an average price of $277,245 and $124 per square foot.

There are currently 46 townhomes listed for sale in The Vineyards, both new construction and resale residences. Nineteen are under contract as of April 5.

There are many nearby destinations outside The Vineyards. Metro Charlotte is a 20-minute commute. Downtown Belmont and the U.S. National Whitewater Center are both about 15 minutes away. Toward the west are Kings Mountain and Crowders Mountain state parks.

If you love the idea of staying near the city and not making a move further south to the Tega Cay area then The Vineyards on Lake Wylie is a perfect compromise of seclusion and convenience for nearby shopping, dining and activities. With active adults in mind, there is surely a home to fit every family!