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Neighborhood Spotlight: Seven Coves

August 8, 2022 by lkw_df Leave a Comment

If you haven’t yet checked out Seven Coves in Tega Cay, South Carolina, you are in for a treat. The neighborhood feeds to fantastic Fort Mill schools, has amazing homes with lush landscaping, and is right on Lake Wylie.

Seven Coves is located off of Tega Cay Drive between Tega Cay Golf Club and Trailhead Park. This great spot has residents close to shopping, dining, and entertainment as well as outdoor recreation of many types. There is nearby highway access connecting residents with Uptown Charlotte and Charlotte Douglas International Airport.

Homes in Seven Coves range from 1,900 to almost 4,000 square feet in size so there is a perfect home to fit most any family. Many of the homes have full basements, either finished, or ready to finish and make into additional living space. Homes were built between the late 1990’s and 2019 and many have been updated since they were built. Many of these homes also have upgraded outdoor living spaces with pools, decks, patios, outdoor kitchens and much more.

In the past year, just four homes were sold in Seven Coves. This shows just how popular the neighborhood is that people don’t want to leave. They sold for between $442,500 and $941,000 with the highest price going to a new construction modern farmhouse style home.

To learn more about Seven Coves or for information about buying or selling a home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Lakewood

August 5, 2022 by lkw_df Leave a Comment

Sometimes, you want a home on the lake, but you also want a home in town. If you check out Lakewood in Belmont, you can have the best of both. This amazing community is waterfront on the South Fork of the Catawba River. This means that you can cruise down to Lake Wylie, or have your own more private lake party at home.

Lakewood was established in the 1950’s and homes were built all the way until the 1980’s in the community. They have tons of character and unique features. Many of the homes have been remodeled, some a few different times since they were built. Most of the homes do not have water frontage, but the few that do are true gems that if they are listed for sale, don’t last long on the market before someone grabs them.

Located on the west side of Belmont, North Carolina, Lakewood is in a great position for being a commuter home for someone working in Charlotte. The airport is very convenient for business and personal travel. Downtown Belmont is close by for shopping, dining, and community events throughout the year.

In the last year, nine homes were sold in Lakewood. They ranged from a 3 bedroom, 2 bath with 1,650 square feet for $311,000, to a 3 bedroom, 3 bath with 2,546 square feet for $515,000. There are currently 3 homes for sale in Lakewood with two already under contract.

To learn more about Lakewood or for information about buying or selling a home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Explore Rock Hill

August 2, 2022 by lkw_df Leave a Comment

This week, a lot of eyes are on Rock Hill, SC for the Cornhole Championships, most of those eyes will be watching on ESPN2. This national spotlight will highlight Rock Hill in a way that is a boon to the area, and Lake Wylie could be part of the coverage.

The championships will feature celebrities, prize money, and lots of excitement. In addition to cornhole, the 12.5 hours of coverage airing on August 5th will also include kickball, ax throwing, wiffle ball, bullshooting (like darts), and quadball (formerly quiddich). Break dancing, dodgeball, and air guitar will also be featured as part of The Ocho, ESPN’s nod to the movie Dodgeball.

Most sports coverage includes drone footage from high above the venues. From the high above the Rock Hill Sports and Event Center, you may be able to spy the edge of Lake Wylie. The lake is just 7 miles away from the sports venue.

Rock Hill is a great place to visit if you live near Lake Wylie. Rock Hill is the fifth largest city in South Carolina and has everything you need, from entertainment and sports, to restaurants and shopping. There Catawba River flows through the edge of town and you can attend community events throughout the year. Rock Hill is the home to multiple universities including Winthrop with around 6,000 students. There are also countless parks and the Main Street Children’s Museum. Visitors can catch a baseball game, or play a round of disc golf, ride mountain bike trails, or try a Carolina Reaper pepper, The Guiness World Record holder as the hottest in the world.

At only 7 miles away from Rock Hill, Lake Wylie is a great spot to land. You can live the lake lifestyle with watersports, wildlife viewing and outdoor recreation and still be close to everything you need in a city without having to drive all the way into Charlotte. If you want to learn more about this area, or for information about buying or selling a home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Catawba Cove

July 29, 2022 by lkw_df Leave a Comment

A short drive away from Drift on Lake Wylie, you’ll find a great neighborhood tucked away called Catawba Cove. This spot is on the North Carolina side of the lake with a Belmont address, and has a mix of existing and new construction homes. Lots are enormous, with new construction homes sitting on 10 acre lots providing all the privacy you need, yet you are within minutes of shopping, dining, and entertainment.

All homes in Catawba Cove are custom built and take full advantage of the natural setting with large windows, decks, docks, boat houses, and outdoor living spaces. They were built between 1983 and 2022 and have a variety of styles and sizes. Homes range from 2,500 to almost 10,000 square feet with 3-5 bedrooms and 2.5-9 bathrooms. Many of the homes have outbuildings ranging from workshops to greenhouses to guest quarters to horse stables.

In the last year, just two of these properties changed ownership in Catawba Cove. The first was a property with just over 11 acres with enough road frontage for two driveways making it perfect for two homes on the site. The second was a 4,000+ square foot home with water frontage on the lake and multiple outbuildings.

There are currently two homes listed for sale in Catawba Cove but they are both already under contract. They are both new construction homes with modern farmhouse styling, over 3,000 square feet and all of the custom features that make a house feel like home. There is still a chance that one of these contracts could fall through and you can purchase one of these amazing homes.

To learn more about Catawba Cove or for information about buying or selling a home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Recession Fears Loom

July 25, 2022 by lkw_df Leave a Comment

We have all noticed prices of goods and services going up over the last few months. From gasoline to groceries, rising prices have affected consumers in all income levels. But is this inflation a long term trend leading to a recession or will it resolve itself as quickly as it started. The answer is, it’s complicated.

There are a lot of factors that led to the current inflation we are seeing. In addition to other factors, the stimulus that the government distributed led to many more people buying goods. Manufacturing was down in capacity and supply chains were stretched thin due to the pandemic. The increased demand for a smaller amount of goods drove prices up. Then the war started in Ukraine. This led to oil prices rising and cost of food to go up as Russia produces a lot of the world’s oil supply and Ukraine supplies much of the grain and food. So, complicated.

Do you need to worry about a possible recession? If you own your home and have a fixed-rate mortgage, you don’t have too much to fear. Wages are up and unemployment is still low so if you lose a job, it should be pretty easy to find another one.

In addition, the government is releasing some controls to help stabilize the economy. The first line of defense is the Federal Reserve raising rates on some key indicators designed to slow inflation by making it more expensive for banks to borrow money. This in turn raises interest rates on loans and credit card debt which should slow things so the supply chain can catch up at last. They are also releasing barrels of oil from the strategic reserve and we have already seen prices at the pump lowering in the past weeks.

For the real estate market, we are seeing fewer homes with multiple offers the day they are listed. Prices have yet to come down, but that could happen if we do enter a recession.

To learn more about current market conditions or about buying or selling a home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Restaurant Week Coming To Lake Wylie

July 20, 2022 by lkw_df Leave a Comment

Charlotte Restaurant Week has become a yearly tradition that we all look forward to because it is a delicious chance to try a new, new to you, or an old favorite restaurant. This year, there are many choices close to Lake Wylie so you don’t have to travel far to check out some great food for dinner.

Restaurant Week occurs two times per year. Participating restaurants prepare special three course prix fixe menus for $30, $35, $40, or $45 per person, depending on the restaurant, not including taxes and gratuity. Reservations are recommended. This July’s dates are the 22nd to the 31st so book your reservations now to ensure you get a table for the feast. Reservations need to be made with each restaurant separately.

Participating restaurants in the Lake Wylie area are:

Belmont
- The Bottle Tree
- Drift on Lake Wylie
- Estia’s Kouzina
- Heirloom Restaurant
- Old Stone Steakhouse
Fort Mill / LakeWylie / Rock Hill / York County
- FishMarket Bar and Grill
- Lily’s Bistro
- Napa at Kingsley
- Old Town Kitchen and Cocktails
- The Pump House

If you want to know more about Restaurant Week, check out the official website for the event here. To learn more about buying or selling a home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Paradise Point Lake Wylie

July 19, 2022 by lkw_df Leave a Comment

A little bit North of Daniel Stowe Botanical Garden, just off Lake Front Drive, sits Paradise Point. This serene spot is one of the best kept secrets in a deep water cove of Lake Wylie. With a Belmont address, it feeds to top rated schools, and is close to everything you need, but still feels secluded.

Homes at Paradise Point are a variety of sizes and styles. Some homes were built in the 1970’s and some were built as recently as 2017. This leads the neighborhood to feel eclectic and unique. There is no HOA, so no additional regulations beyond the city of Belmont which means that you have more latitude for outbuildings, boat storage, and additions on homes.

Most homes in Paradise Point have between 2 and 3 bedrooms, and between 2 and 4.5 bathrooms. The range in size is from about 1,400 to 4,900 square feet. Many of the homes have water frontage with docks and boathouses.

In the past year, 8 homes in Paradise Point changed owners. Prices ranged between $290,000 and $652,500. These prices vary depending on the size of the home, the size of the lot, and water frontage. There is currently one home listed for sale in Paradise Point. It went under contract in 31 days and is a unique property because it has a separate guest house that can be converted to an income producing property. The original list price on this one-of-a-kind waterfront home was $799,999.

If you want to know more about Paradise Point so you can be the first to know when a home is listed for sale, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

June Market Report – Greater Lake Wylie Area

July 18, 2022 by lkw_df Leave a Comment

The real estate market appears to be headed for a slight correction. According to the monthly data from the Canopy Realtor Association, the supply of homes in the Charlotte Region was up slightly in June, the first time in many months. This signals that the market may be slowing down from the furious pace it has sustained for the last few years. The supply of homes rose from 4,732 last June, to 5,334 this June, an increase of 602 homes or 12.7%.

Closed sales were also down year over year, with a decrease of 13.6%. New listings were up 4.1% year over year. These factors together signal that homes are spending longer on the market, and more people are listing their homes. Prices have yet to fall in accordance with the increased supply, we will have to wait to see if there is a corresponding price correction.

When you look at the numbers for Lake Wylie, you see a much smaller rise in inventory, just two homes more this year than last. It is not unusual for trends in smaller areas not to match the overall trend due to the small sample size. New listings, pending sales, and closings were all down year over year, 8%, 26.6%, and 26.9% respectively. Homes are still going under contract quickly, with the average of 16 days from list to contract.

Prices in the greater Lake Wylie area are still on the rise, with the average sales price coming in at $698,709 in June. This is up 36.1% from $513,455 last June. Sellers can also expect to get at or above list price with the average home selling for 102.3% of list price. This means that the market is still favoring sellers and will continue to do so until the supply of homes reaches a 4-6 month supply when the market is considered to be balanced between buyers and sellers. This shows that higher interest rates have not slowed buyers in our area yet.

If you want to know more about any home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.