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LAKE WYLIE WATERFRONT LOT REPORT “IT’S A BUYERS MARKET” 9/15/13

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Waterfront Properties for sale have increased to 146 listings as of 9/15/13 further increasing supply of vacant undeveloped waterfront  lots. Demand for Waterfront Lots has decreased since the Great Recession started, primarily because of the lack Financing available.

Only 29 lots have sold on the Lake this year in Gaston, Mecklenburg and York Counties. The average sales price was $215,000, and days on the market were over 227.

Realistically the glory days in lots sales are over for now and the near future because of the lack of financing. Prices are declining back to the late 1990’s to early 2000 levels. Its a great Buyers Market for Waterfront Properties on the Lake.

Lake Wylie Waterfront Sales Report August 2013

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AS OF 7/31/2013

117 Waterfront Homes are listed for sale in the area known as Lake Wylie which includes Mecklenburg and Gaston County in NC along with York County SC: also known as area 15

Below are the Stats:

Home prices range from $240,000.00 to $3.5 Million. Only 3 are for sale under $450,000

The average list price is $840,000 and the median price is $699,000

Current days on the Market 151

As of 8/1/13 57 Single Family Homes have Sold and Closed:

The average Sales price was $592,000.000

The average number of days on the Market were  122
 The average sales price to list price was 95%

The average price per squire foot was $187.00

 

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Beautiful New Lake Wylie Waterfront Listing – Video

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We’re excited to bring you this new listing located at 16011 Boyd Cove. This Home has everything you would ever want in Lakefront Luxury living all on one floor……………….

Check out the full motion video tour of this home

You can see photographs of the home by clicking here

Contact us today to schedule a showing of this fabulous property!

Don Stephens – 704-562-3646
David McCorkle – 704-309-1549

Don Stephens joins Lake Wylie Realty as Principle

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Don's photo

 

Don has over 35 Years experience in Lake Wylie Waterfront sales and is the most experienced Broker on the Lake with over 400 Waterfront properties sold. Don joins The Lake Wylie Realty Man Team as Partner and Senior Realtor and can be reached at Don@lkwrealty.com or 704-562-3446.

HOUSING MARKET MAKING A COMEBACK?

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Evidence continues to show that the housing market is making a comeback. Here are just some of the positive reports that came in over the last few weeks:

  • Housing starts spiked by 7 percent in March to come in at the highest rate since June 2008. In addition, housing starts were up 47 percent since the same period last year.
  • The number of mortgages behind on payments or in foreclosure fell in March to the lowest mark since 2008.
  • New Home Sales for March increased to come in slightly better than estimates.
  • The Mortgage Bankers Association reported small gains in the numbers of loan applications, refinances and purchases.

Not all of the housing news was good last month. Building permits, which are a sign of future construction, did decline slightly. And Existing Home Sales for March came in slightly below expectations. But overall, the housing-related reports were strong and provided further evidence of improvements in the housing sector.

Other economic news wasn’t as positive. Retail Sales for March came in below expectations and marked the largest decline in nine months. However, the rise in payroll taxes, which began in January, is likely a big part of the decline in spending. Consumer Sentiment also fell to its lowest level since July of 2012. And in the manufacturing sector, the Empire Manufacturing Index was much weaker than expected and below the previous month. Those reports indicate that we may see another economic malaise this spring, like we have seen the last couple of years.

What does this mean for home loan rates?

The uncertainty of the economy and continuation of the Fed’s bond purchase program (known as Quantitative Easing) should continue to benefit bonds and home loan rates. That makes now an ideal time to consider purchasing a home or refinancing

 

Call to Action:

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 A residential design bill is in Senate Committee tomorrow at 11 a.m.!  The bill would limit the ability of local governments to require architectural and design controls on single-family homes, duplexes and townhomes. Let our state senators know how important this bill is for our industry and for housing affordability in North Carolina. Click here to help.

Congress Considers Action on Comprehensive Tax Reform

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 The US Congress is considering tax reform that can and will have a huge effect on all property owners and The National Association of Realtors President Gary Thomas recently stated.

As the U.S. Congress considers action on comprehensive tax reform, you can be sure that the National Association of Realtors is doing its best to protect the many long-standing tax incentives to home and property ownership.

These include the following:

We’re going to have to stay on top of the action.  These are complicated issues that will not be settled with a direct up or down vote that affects only real estate.  They may easily be tucked into the language on a larger bill, and things may move very fast when the time comes.

Right now, we’re in the early stages of what we expect will be a long process.  The House Ways & Means Committee and the Senate Finance Committee are holding ongoing meetings on the issues.  As REALTORS®, we have a seat at the table and are sharing our views.

We tell members of Congress and staff how necessary these incentives are for rebuilding the national economy.  Since we’re in the midst of a fragile recovery, additional housing taxes would crush the real estate market just as it is poised to help lift us out of the economic doldrums

Our goal is to see that the tax code will continue to reflect the fundamental American value that homeownership helps build financial stability.  Not only is this the right policy for housing, it’s also the best for families, for communities and the entire country.

Our government tax policy should encourage homeownership while giving more Americans a chance for their little piece of heaven. 

Contact your Congressman and Senators.

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