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

Residential development booms in Fort Mill and Tega Cay

screen-shot-2016-11-20-at-4-25-46-pmFort Mill and Tega Cay are soon to be home to, well… more new homes. For starters, a 52-acre site on Fort Mill Parkway will soon be Fort Mill Reserve, which would potentially include up to 120 homes as well as 80,000 square feet of retail, office or municipal use. An acre of the space would also be donated to the town as green space or as a park. And, at least 20% of the residences in Fort Mill Parkway would be targeted toward seniors. Plus, next to Fort Mill Reserve is another new possible site for up to 75 new homes as well as a fire station.

The Cadence subdivision is under review in Tega Cay, where possible plans would allow for up to 125 new homes here. If everything moves forward, Cadence should be completed by 2020 as part of a big surge in development for Tega Cay, which also includes Catawba Park, the Game On sports megaplex, as well as many new residential neighborhoods. With more than a thousand housing units currently in the works in Tega Cay, there are almost just as many housing units in the proposal stage, as well.

Massey is also seeing some residential additions with 47 new homes on nearly 42 acres on the northern side of South Dobys Bridge Road.

For more details and information on the residential development that is booming in the Fort Mill and Tega Cay area, be sure to read the full article at Heraldonline.com.

Lake Wylie Plans more Outdoor Living

Crowders Creek Park Plan

Crowders Creek Park Plan

A Crowders Creek park plan will be voted on by Lake Wylie residents later this year. June 20th, the York County Council received and finalized a petition to allow a special district vote on the proposed sports complex in Lake Wylie. The special tax district vote will occur with the general election ballot on November 8th. If the plan is approved by the voters, it will result in paying for half of an $8 million sports complex on land owned by York County. The land is along Crowders Creek.

The cost is estimated by park supporters to come in at $16/year on $100,000 home value, or $24/year for $100,000 of commercial property value.

The park would include baseball/softball fields and multi-purpose fields for hosting outside tournaments. It would also include trails and more.

LakeWylieBikeTrailLindsayAdditionally, a community workshop will be held June 27th to come up with a plan to improve bicycle and pedestrian connections throughout the Lake Wylie area. The workshop is hosted by the Rock Hill-Fort Mill Area Transportation Study. It will be a drop-in meeting hosted at the Lake Wylie Public Library.

RFATS hopes the meeting will help identify gaps that could connect existing bicycle or pedestrian paths to encourage people to reduce vehicular traffic on roadways.

These projects could potentially help support current businesses and residents and draw more into the area. Lake Wylie is all about outdoor living and these projects line up with those goals.

It remains to be seen if residents are willing to help fund the park. It will also be interesting to see what the community would like to see out of the bicycle and pedestrian plan. It would be nice if Lake Wylie could be connected by trails to the larger community like is happening in many other cities around the country.

Read more about Crowers Creek Park here.

Read more about Bike Trails here.

Neighborhood Spotlight: Chapel Cove

The New York Times ran a story today stating that houses keep getting bigger even as families get smaller. New construction homes have more square footage, more bedrooms, and more bathrooms than they did in 1980. However, the average size of a household has shrunk to 2.58 people.

Chapel Cove Entrance Sign

Chapel Cove Entrance Sign

Chapel Cove in Lake Wylie is a fantastic master planned new construction community where you can get a larger home you desire with all of the features you want.

Homes in Chapel Cove start in the $200’s and range all the way up to the $800’s or more with custom features. Arranged by developer Crescent Communities, Builders include Pulte Homes, CalAtlantic Homes (formerly Standard Pacific Homes) and taylor morrison.

Homes range in size from 2509 square feet to over 4000 square feet. Features of the home depend on the builder but can include gourmet kitchens, outdoor living spaces, luxury bathrooms, private lake access and more.

A recently sold home in Chapel Cove

A recently sold home in Chapel Cove

Amenities include a multi-use club room with kitchen for community events, cardio and strength fitness room with after-hours access, swimming pool with children’s splash area and adult gathering area, tennis, basketball and pickleball courts, multiple gathering and lounge areas around the pool deck, hard and soft surface trails around the amenity center, canoe and kayak launch and an activity lawn.

Located close to Steele Creek just off Shopton Road West, Chapel Cove has Lake Wylie to the North and west. Thomas McAlister Winget Park is to the east with a playground, soccer fields, basketball courts and a disc golf course. A short drive to the South is the 1100+ acre McDowell Nature Preserve with a Nature Center, campground, hiking trails, play areas, fishing and boating access.

Chapel Cove has convenient access to a myriad of outside attractions. Multiple routes give you easy access to I-485, which means that uptown Charlotte, the U.S. National Whitewater Center, Carolina Place Mall, Ballantyne, and The Charlotte Douglas International Airport, to name a few, are just minutes away.

Chapel Cove pool with children's splash area

Chapel Cove pool with children’s splash area

Currently there are 33 homes on the market in Chapel Cove with 8 under contract. They are listed in price ranging from $296,990 to $$825,000. In the last year homes have sold for between $369,850 to $599,900.

Read the full New York Times story here.

Town Spotlight: Clover

The Clover area of Lake Wylie is a special one, lying just south of the Carolina border with all of the beauty that Lake Wylie has to offer, as well as countless local conveniences and a great location. Located in the Northwestern part of York County, legend holds that the town got its start in the late 1800s when a small cluster of homes was built round a 5,000 gallon water tank. Large clover patches grew where excess water spilled, and thus, the name “Clover” stuck. Clover offers great schools, lower taxes and tons of waterfront properties.

Clover and the surrounding area offer a small town feeling, however it allows for easy access to big city perks with its close proximity to Charlotte and Gastonia, North Carolina, as well as Rock Hill, South Carolina. These rapidly growing urban areas offer exceptional dining, great shopping and endless entertainment, as well as a diverse job market.clover1

The housing market in Clover is balanced, with 5.2 months of inventory currently available, indicating neither a buyer’s nor seller’s market. There are also plenty of waterfront properties consistently available in and around Clover. Over the last five years, there has never been less than 23 active listings for waterfront property in any given month, and as many as 49 listings have been available at once.clover2clover3clover4

 

While the majority of waterfront listings in Clover in 2015, both closed and new, had sales prices of $500,000 or greater, there were still many listings at lower price points. However, the first half of 2016 has yet to see a listing for less than $400,000, possibly indicating an appreciation in the market value of homes here.

Take a look at all of the waterfront properties that are currently available in the Clover area, and find your dream home!

 

Spotlight: The Vineyards on Lake Wylie

vineyards

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.

waterfront

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.

marina

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!

The Sanctuary lives up to its name

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Grand estate homes on large lots in a heavily wooded setting is the trademark of Lake Wylie’s The Sanctuary, an exclusive community with just 187 home sites planned on its more than 1,350 acres.

The idyllic Charlotte setting offers both waterfront and interior acreage, with lots ranging from 2 acres to 13 acres. In addition to main homes, the larger lot sizes allow for building additional structures like guest homes and studios.

sanctuary

This gorgeous, 5,000-square-foot Tudor home sold this month in The Sanctuary.

Amenities include The Camp & John James Audubon Lodge, a 17-acre waterfront area with swimming pools, tennis courts, fitness center and a boating center. The Sanctuary employs a full-time staff to bring neighborhood residents together in social and recreational activities.

The neighborhood is adjacent to Thomas McAlister Winget Park and the North Carolina State Wildlife Landing. It is approximately 5 miles to I-485 at Steele Creek Road. Charlotte-Douglas airport is about 20 minutes away, and a commute to Uptown will take approximately 35 minutes. For everyday shopping, the Steele Creek area is the most convenient from the neighborhood.

There are 15 approved builders for creating custom homes in The Sanctuary. Twenty percent of the land space will remain undeveloped and allows for nearly 20 miles of walking trails, 300 acres of open common space and 7 miles of shoreline on the property.

Currently, there are 9 properties listed for sale in The Sanctuary, one of which is under contract. Seven of the properties are resale homes, and two are pre-construction home plans that can be purchased as land only.

Only six homes sold in The Sanctuary during the last 12 months. Five of the homes were resale and 1 was a new construction home. None was waterfront property.

The average sales price of those 6 homes sold was $811,125 and $168.20 per square foot. The sales averaged 96.6% of list price.

Additionally, there is a unique opportunity to own a waterfront home inside The Sanctuary property that is not governed by Sanctuary deed restrictions. 

Built in 1953, the 1,000-square-foot home is in a prime location that includes a boat lift and dock. It is listed at $450,000 and could be occupied as is or torn down and rebuilt. The lot is nearly 1.2 acres. It is a fantastic chance to live within the beauty of The Sanctuary without the steep price or restrictions.

The family-friendly neighborhood is zoned for Charlotte’s Winget Park Elementary School, Southwest Middle School and Olympic High School.

Neighborhood spotlight: York’s Bethelfields

bethelfields

This 4-bedroom home in Bethelfields sold for $264,000 in 2015.

The mature neighborhood of Bethelfields located in York has great amenities, location and school zoning.

Homes in Bethelfields were built in the early 2000s by a variety of builders such as Lennar Homes, Don Galloway and K. Hovnanian Homes.

The neighborhood is on the western shore of Lake Wylie near the intersection of highways 55E and 274 (Hands Mill Highway). A small farm separates the neighborhood from the roadway and gives the majority of the homes in Bethelfields some setback from road noise.

It is about 45 minutes to both the airport and Uptown depending on the route and traffic and is convenient to both Rock Hill and Gastonia. Just north of Bethelfields at Highway 557 are many dining and shopping options, a Wal-Mart Super Center and Lowe’s. The local coffee shops, Crowders Creek Coffee Co., is just a 1.5 miles down the road for a cup of fresh-roasted fair trade coffee.

Inside Bethelfields, the amenities include a pool, 3 playgrounds, picnic tables and sidewalks throughout. There is also storage available to residents for boats, trailers and RVs. Lake access is conveniently located 5 miles south at the Allison Creek ramp.

Homes are reasonably priced in the high $100,000s to mid- to high-$200,000s. Most of the homes are size from 2,100 to 3,100 square feet.

The average sales price of a Bethelfields home during the last 12 months is $227,512 and about $86 per square foot.

Approximately 1.4 homes sold each month in the neighborhood during the last year. Currently, there are 4 homes listed for sale in Bethelfields, which given market data for the last year, is 2.8 months inventory.

York has nearly 11 months of inventory, and York County has nearly 7 months of inventory. Bethfields is still very much a seller’s market at its current inventory.

Home sales average just over 97% of list price in the neighborhood.

Bethelfields is zoned in the desirable Clover School District for Bethel Elementary, Oak Ridge Middle School and Clover High School.

Sunset Point: Affordable lakeside living

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Sunset Point on the shores of Lake Wylie is a beautiful community tucked away on the southeastern corner of the lake near Westminster Park.

Built in 2002, the neighborhood includes single-family detached homes and townhomes. It is one of the more affordable communities on the lake with waterfront homes. boatslip

Sunset Point is 20 miles south of Charlotte with convenient access to I-77. It is minutes from Fort Mill and Tega Cay.

Founded in 2002, Sunset Point has many amenities, such as a pool and cabana, grills and picnic area, private beach area with a picnic pavilion and a lakeside boardwalk.

The neighborhood also has a 64-space community boat storage area. Most waterfront homes in the community also have either private backyard docks or private community slips. Public access boat ramps for residents who do not have a boat slip or dock is available at nearby Ebenezer Park.

Interior homes usually range in the $200,000 to $300,000 range, while waterfront homes in Sunset Point can approach high $400,000s.

Currently, there are 2 homes listed in Sunset Point, both waterfront and listed at $450,000. Both homes are around 2,500 square feet.

The average sales price for a home in Sunset Point over the last 12 months was $234,050.  There were no waterfront homes sold in the last year. The price per square foot for the homes sold averaged approximately $90.

The highest and lowest price of homes sold in the last year was $277,000 and $189,500, respectively.

Life on the lake attracts all kinds of buyers and Sunset Point is no different. The community is a diverse mix of young, single professionals, couples, families, retirees and empty-nesters.

If you thought waterfront or even water view living would bust your budget, think again. Keep an eye on homes available in Sunset Point!

Escape hectic life in Heron Cove

Screen Shot 2016-01-14 at 7.46.40 PMHeron Cove on Lake Wylie is the best of work and play. Its location makes traveling to Charlotte or Rock Hill a quick commute, less than 20 minutes for both. For recreation, all of Lake Wylie’s 12,000-plus acres is out your door to be enjoyed!

The neighborhood of 104 home sites, located just west of the Buster Boyd Bridge, is full of custom homes built by 5 builders on lots of a half acre to 1.5 acres. There is a community pool, walking trails and Lake Park for residents to enjoy.

The nearby River Hills Plantation Country Club features an 18-hole golf course, tennis courts, a fitness center and other amenities. Daniel Stowe Botanical Garden is nearby, as is Coffer Dam, one of the best fishing spots on the lake. McDowell Nature Preserve is just across the bridge on Highway 49. The 1,100-acre preserve is largely undeveloped and home to lots of wildlife.

Homes in Heron Cove range from the $400,000s to $900,000s. According to the Heron Cove Web site, there are still interior and waterfront lots available.

Currently, there are 3 homes listed on the market in Heron Cove. Over the last 12 months fewer than 1 home per month has sold. The average sales price is $486,737. The average price per square foot is just under $127.

Six homes sold in Heron Cove in 2015 for an average of 98% of list price.

If you’re interested in living on the lake then take a look in Heron Cove. The real estate market heats up with the weather, and you don’t want to miss out on Lake Wylie life!