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Updates on the Transit Plan

February 3, 2021 by lkw_df Leave a Comment

The Lynx Blue Line didn’t happen overnight, and the expansion to the transit plan won’t happen overnight either. The plan has been in the works for years and it could take more years before we finally see the expansion come to fruition. There are so many factors to consider in a monumental project like this, we wouldn’t want it to go fast, but if it could, we could all benefit sooner.

Charlotte is a growing city and forecasts predict that around 385,000 additional residents will move the area by 2040. With the system as it stands, that means traffic gridlock is inevitable unless a lot of the workforce continues to work from home once the pandemic is over.

City leaders are working on the plan now and they imagine expansion of the greenway system, additional lines for the light rail, and modernization of the bus network. They would also improve roads and bike lanes as part of the plan. Infrastructure improvements as well as repairs to existing routes need to be accounted for as well.

Paying for all of these improvements is always tricky. Sales tax hikes are not generally popular, especially during a time when so many people are feeling the pinch of the economy. The cost is expected to be between $8 and $12 billion. This would come in part from an existing transportation bond, then could be funded by a local sales tax hike and/or property tax hike.

Transit is a big issue in the area, with Charlotte ranking dead last in the economic mobility among the 50 major US cities. This is about future growth, but also about economic opportunity for our residents with the lowest income being able to get to a job.

There are many hurdles to overcome if this plan is going to be implemented. The pandemic has made us economically vulnerable. The legislature could stall the plan as it is not universally popular. The voters could sway the issue one way or the other. The next steps are to fully flesh out the plan with strategy and funding frameworks so the legislature can consider it and refine it.

For more information on transportation or any other detail about life in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings and create custom searches on our website here.

For additional information, see the article from the Charlotte Agenda.

Nolen Farm Coming to Gastonia

January 21, 2021 by lkw_df Leave a Comment

Meritage Homes has a stunning new construction project coming in Gastonia called Nolen Farm. This neighborhood is located off Union New Hope Road on the South side of Gastonia with easy access to highways and close to Lake Wylie. Owners can take advantage of Gastonia’s small-town charm, shopping, and community.

Homes in Nolen Farm have a variety of floorplans, 7 to choose from with options to make each one unique. They have up to 2694 square feet of living space with 3-4 bedrooms, 2-3 full bathrooms and 1 half bathroom. All homes have a 2 car garage and there are one and two story plans.

Homes have open concept floorplans and can include covered patios, versatile flex rooms, secluded primary suites, private guest suites, and upstairs bonus rooms. There will eventually be 127 homes in the neighborhood that will have lawn maintenance included and share community amenities. These include clubhouse, pool, splash pad, playground, and trails.

There are currently 48 homes for sale in Nolen Farm, with all but 5 of them already under contract. Another phase or two of the neighborhood should come soon for the remaining 79 homes.

There are a few quick move-in homes available. For more information on a quick move-in home or customizing and building a home in Nolen Farm or any other neighborhood in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings and create custom searches on our website here.

December Market Report

January 21, 2021 by lkw_df Leave a Comment

The monthly market numbers have been published by the Canopy Realtor Association, and they affirm that there is a record low supply of inventory. For the entire Charlotte region there is now just a 0.8 month supply and for Lake Wylie it is just 1.1 months of homes. A balanced market between buyers and sellers is generally considered to be a 4-6 month supply. This means that sellers are seeing multiple offers and offers above asking price on many homes.

Homes are selling quickly as well, sometimes before they are even listed for sale. Homes in Lake Wylie are averaging 26 days on the market before a sale, down 64.9% from the 74 days last year at this time. This means that buyers have to come to a home ready to put a contract on it. New construction homes are flying off the market as well and supply is not keeping up with the current demand.

Due to the low supply of homes, prices keep rising higher. The average sale price in Lake Wylie rose 22.8% from $369,460 last December to $453,718 this December. Sellers on average can expect to receive 98.8% of list price.

New listings were down 7.5% from the same time last year and were down 3.4% when you look at the full year. The pandemic has likely caused a lot of people to stay in their homes instead of listing this year. We may see an uptick in home listings as this year continues. Most people are predicting new listings to head up as people who would have sold in 2020 will sell in 2021.

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

Important Information for Buying Lake Property

January 13, 2021 by lkw_df Leave a Comment

The Charlotte Business Journal recently published an article entitled “What to consider when buying lakefront property in the Charlotte area”. This is a great reminder of all that goes into a lake purchase that may not apply to properties not on the waterfront. This is especially important when there is not much inventory so homes are selling quickly. This means that you have less time to make important decisions so you want to make sure you have considered every angle.

Price is first and probably most important. Main channel properties which typically have the best views, command a premium on price, even over other lakefront properties. Cove properties typically have less boat traffic so that can be a consideration for buyers as well.
Riparian Buffer – this is a 50-foot buffer from the water that has to remain in a vegetated state. This is mostly to counteract erosion and protect animal habitats. Property owners cannot remove trees on the first 30 feet and there are minimal changes that are allowed by law.
Docks and Boathouses – there are many properties that already have a dock or boathouse, but this does not mean that you can build one on your new property. There is a permitting process through Duke Energy and only homeowners are allowed to apply for a permit. This means that if a dock is a must have for you, you can ask a current homeowner to apply for a permit as a condition of a sale. Boathouses are typically grandfathered in and have regulations of upgrading, typically limited to fixing but not over-improving.
Insurance can be a factor as well. You need to make sure your policy covers your property as well as watercraft and retaining walls if they are present. This is an additional consideration that you typically don’t have if you don’t have a waterfront property.

There can be many additional steps in the process of lakefront homes and having the best representation on your side is essential. If you are interested in purchasing a lakefront property, let one of our experts help you navigate the process. Call us at 803-831-8588. You can view current listings and create custom searches on our website here.

To read more, check out the full article in the Charlotte Business Journal here.

Featured Listing: 880 Dusty Road

January 11, 2021 by lkw_df Leave a Comment

This one is all about location, location, location. But, it is also about acreage, acreage, acreage. This amazing property at 880 Dusty Road is a total of 5.64 acres and is just minutes from Lake Wylie. Picture all of the things you can do on that much property.

This isn’t just one parcel, but is three parcels all together, 370-00-00-012, 370-00-00-013, and 369-00-00-038. The land is located just off of Highway 321 North of Clover, but still with a Clover address.

There is currently a brick home on the property that is rented month to month. It is a 2 bedroom, 1 full bath home with 1,000 square feet of living space. There is a one car carport and plenty of yard with old growth trees for abundant shade.

There is potential in the existing home if you are looking for a project. You can also build your dream home on the additional acreage. It will be your choice if you keep the existing home as a rental.

Properties like this don’t come on the market very often and they are not usually in such a great location. Don’t miss out on this one!

For more information on this home or any other home in the Lake Wylie area, give us a call at 803-831-8588. To view the full listing for this property, click here. You can view all other current listings and create a custom search on our website here.

Neighborhood Spotlight: Lake Ridge at Tega Cay

January 11, 2021 by lkw_df Leave a Comment

For a great neighborhood with impressive amenities, look no further than Lake Ridge at Tega Cay. Residents have access to all of the amenities as well as Catawba River access from Catawba Park and at the nearby Lake Wylie Dam. The Carolina Thread trail winds behind a section of the neighborhood, this trail connects with a network of trails, greenways, and blueways in the Charlotte Metrolina area. Baxter Village is nearby for convenient shopping, and residents love that they are zoned for top ranked Fort Mill schools.

Lake Ridge was developed by a number of notable home builders. Toll Brothers, DR Horton and Meritage Homes all developed homes here between 2009 and 2018. Amenities for the neighborhood include a clubhouse with catering kitchen and fitness center, pool with children’s waterpark, tennis courts, and gathering spaces for homeowners. There is a playground, picnic areas, and walking trails as well.

Homes in Lake Ridge are one- or two-story with 3-6 bedrooms and 2-4.5 bathrooms. Square footage ranges from just over 2,000 to well over 4,000 with plenty of space for home offices, home gyms, or playrooms. Kitchens and gathering spaces are large, and there is plenty of storage. There are many different floor plans and styles of homes so there is sure to be a home to fit any family.

In the last year, 64 homes sold in Lake Ridge and prices ranged from the $300,000’s to the $550,000’s. There are currently 9 homes on the market in Lake Ridge and they are going quickly with 8 of the 9 already under contract.

If you are interested in buying or selling a home in Lake Ridge at Tega Cay or the Lake Wylie area, give us a call at 803-831-8588. You can view current listings and create custom home searches on our website here.

Neighborhood Spotlight: Woodland Bay Waterfront Community

January 6, 2021 by lkw_df Leave a Comment

Located on the South Point Peninsula of Lake Wylie, Woodland Bay is an exclusive gated waterfront community perfect for your next home. Woodland Bay is located zoned for highly coveted schools, and is on one of the most tranquil and unspoiled parts of Lake Wylie.

Woodland Bay is located off NC highway 273, just across the road from Daniel Stowe Botanical Gardens. The neighborhood keeps the character and natural beauty of the botanical gardens. It is heavily wooded with rolling terrain and plenty of privacy.

The original developer of Woodland Bay was Crescent Resources, a premium designer of upscale, restricted neighborhoods. There are now many custom builders in the neighborhood ready to help you build your dream house.

Homes have already been built but there are lots available so you can customize a home to suit your particular needs. There are waterfront properties as well as more secluded interior properties and all lots have mature trees and are large enough to have outdoor living spaces and still have privacy from the neighbors.

Homes in Woodland bay have all the bells and whistles. Many homes have home gyms, firepits, gourmet kitchens, fully finished basements, home offices and much more. In the last year just two homes and two lots changed owners. Waterfront lots command a premium but with main channel views for many properties, they are worth it. Lots typically range from ¾ of an acre to almost 2 acres. Homes are typically between 3,000 and 5,000+ square feet of living space. The average home sells for between $800,000 and $2.3 million depending on size and location.

There are currently 4 homes and 4 lots for sale in Woodland Bay with one lot under contract. If you are interested in learning more about one of these great properties in Woodland Bay or any other home in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings and create a custom search on our website here.

Neighborhood Spotlight: Tullamore

December 28, 2020 by lkw_df Leave a Comment

Picturesque Tullamore is a great neighborhood to consider for your next family home. Tullamore is located minutes from the state line with easy access to Lake Wylie and downtown Clover. It is a quick trip into Uptown Charlotte via nearby access to I-85. A trip to Charlotte Douglas International Airport is also convenient.

Residents of Tullamore enjoy lower South Carolina taxes, but are zoned to desirable Clover schools. The neighborhood boasts a playground and picnic area. McDowell Nature Preserve is just minutes away, as is Daniel Stowe Botanical Garden.

Tullamore is comprised of stately brick homes with open floor plans and great features. Most homes have a range of 4-6 bedrooms and 2.5-4 baths and most have over 3,000 square feet of living space. Homes have great storage, and chef’s kitchens. Many have amazing outdoor living spaces and some have full basements for extra living space for home offices, home gyms, school rooms, play rooms and more.

There is currently one home on the market in Tullamore which represents 0.9 months of inventory. This means that Tullamore like most of the Lake Wylie area is currently a seller’s market especially compared to the clover district and York county as a whole. Both of them are slightly more balanced, but are at 2.6 and 2.4 months of inventory which is well below the 4-6 months of inventory that generally represents a balanced market.

In the last year, homes sold between $287,500 and $490,000 with the average sales price coming in at $377,661.

If you are interested in buying or selling a home in Tullamore or the Lake Wylie area, give us a call at 803-831-8588. You can view current listings and create a custom search on our website here.