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Visit Palm Tree Cove

August 28, 2020 by lkw_df Leave a Comment

Palm Tree Cove is a newer development off Allison Creek Road. It is located on the Allison Creek Peninsula, surrounded by Big and Little Allison Creek inlets, two of the most desirable recreational areas on Lake Wylie. The community is known for casual yet sophisticated living and has easy access to nearby shopping and dining.

The neighborhood is mostly complete, but there are still opportunities to buy a lot and build the home of your dreams. Lots range in size from ¾ of an acre to 3 acres. Homes are grand in scale and are typically between 2,500 to well over 4,000 square feet of living space.

Neighborhood amenities include a pool, walking trails, dry boat storage, and of course Lake Wylie. Homes are located in the award winning Clover School district, but enjoy lower South Carolina taxes.

In the past year, 8 homes and one lot sold in Palm Tree Cove. The homes sold for between $324,900 to $575,000. The partially wooded .4 acre lot sold for $44,000.

There are now 4 homes and 3 lots on the market. The lots are listed between $49,500 and $120,000. The homes range between $467,500 and $625,000 and are a mix of existing and new construction. Waterfront properties don’t come on the market very often and when they do, they command a premium and sell quickly.

If you would like to become a part of the community in Palm Tree Cove with an existing home or build your dream home, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Water Edge

August 25, 2020 by lkw_df Leave a Comment

Back in 2016, we profiled a great neighborhood called Water Edge, but the truth is, it’s even better now. This amazing spot is at the southern end of Lake Wylie and is a fantastic secluded spot with wooded lots and great views of the lake. It is close to everything, yet self contained with amazing amenities.

Homes in Water Edge are grand in scale and the minimum build size for ranch style homes is 2200 square feet and 2500 for a two story home. Many of the homes exceed 4000 square feet of living space and are luxurious in the interiors. Waterfront homes sell at a premium as you would expect, but interior lots also have access to the water with the Lake Club Marina offering slip rentals. Interior homes can also have access to the water with the boat ramp at nearby Ebenezer Park.

If you need to go out for necessities, I-77 is just 3 miles away with options there, or 5 miles away you will find more selection for shopping and dining. A trip into Uptown Charlotte will take around 45 minutes. Ballantyne is about 30 minutes away, and Rock Hill is about 8 miles away. So even if you feel like you are in a different world, you can be back in civilization quickly.

Home prices start in the $400,000 to $500,000 range with the rarely up for sale waterfront homes going much higher. Over the last 12 months, seven homes and one lot sold in Water Edge. There are currently three homes for sale in Water Edge with the two new construction homes already under contract. The other homes for sale was just listed a week ago and is a stunning builders’ home with custom touches throughout.

If you would like to schedule a private tour of homes in Water Edge, call us at 803-831-8588. You can view current listings and create custom searches on our website here. See our previous write up about Water Edge here.

More Parks on the Ballot

August 21, 2020 by lkw_df 2 Comments

When you head to the polls this fall, residents of Lake Wylie will vote on a new special tax district to help buy land that will create more parks in the area. The vote will decide if a special tax district will be created or not. This is similar to the decision already made where residents were taxed for the recreation park.

York County Council met and adopted a resolution to certify a public petition. The result of the resolution is that the new tax district will be up for a vote on the general election ballot in November.

Lake Wylie is one of the largest unincorporated places when you look at the population. This means that residents pay for improvement by themselves such as the special fire tax district which supports the Bethel Volunteer Fire Department. This kind of funding was also raised for Field Day Park which was funded in part by a county hospitality tax and a recreation tax district set up to support the park.

This new initiative will first establish if the Bethel/Lake Wylie Land Acquisition and Preservation Park District should be formed. The purpose would be to acquire property for conservation, green space, historic restoration, passive recreation and interactive community uses. A cap of $10 million for land acquisition and construction is part of the plan as is an annual expense cap of $500,000.

The 29,000 residents covered by the new tax district are in the same boundaries as the recreation tax area for Field Day Park. Many of these residents have been vocal for many years about a lack of common green space on the Lake. This is their chance to become advocates for the kind of community they want Lake Wylie to be in the future.

If you would like to join the community in Lake Wylie and have a say in this important legislation, give us a call at 803-831-8588 to schedule a private tour of homes. You can view current listings on our website here.

Home Improvements on the Rise

August 21, 2020 by lkw_df Leave a Comment

If you invested in home improvement stores at the start of the Covid-19 pandemic, chances are you have made a lot of money on your investment. In fact, Lowe’s just announced record earnings for the second fiscal quarter. In real estate, you need to keep up with the trends to be the most attractive home for sale, so here’s a few things you can do if you are getting ready to list your home.

Fix anything that is broken. This may seem like a no-brainer, but you would be surprised how often people have to negotiate repairs or give buyers a discount or pay their closing costs due to something broken. Many of us have been spending more time at home during the pandemic and now have time (that we would have spent on a commute) to make our homes really work for us. This has an added benefit of making our homes better while we live there as well as making them more attractive to a potential buyer.
Revamp dated styles. Many of us don’t mind retro style, but when it makes your home look less attractive than the neighbors, it’s time to update. This can be getting rid of dated counters, updating window treatments, getting new flooring or any other dated style.
Tackle larger renovation projects. Once you have all of the other jobs done, it’s time to think about how to make your home function better for you. This can mean creating the perfect spa-like bathroom, opening up a closed kitchen, or creating an addition to get a much needed home office. For big projects, it’s best to consult the professionals as they can guide you through permitting, have the right equipment to do the job right, and have the know how to help you do the best possible project.

If you would like to talk more about the best improvements you can make to your home, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Get in on Cadence at Tega Cay

August 13, 2020 by lkw_df Leave a Comment

Many people are looking for new construction homes right now and Cadence at Tega Cay still has some opportunities left for you to purchase a quick move-in home or to build a home from the ground up. This enclave community has only 125 homesites and over half of them are already sold. Mattamy Homes has thought of everything. Lawn maintenance included in HOA dues so you have more time to enjoy your community amenities.

Homes in Cadence are single-story ranch plans, with some homes having an optional second floor space perfect for a guest bedroom with loft or a home office. Homes have 2-4 bedrooms with 2-3.5 bathrooms and typically around 1,700 to 2,800 square feet of living space. All have two car garages, hardboard siding, and open floor plans. Homes also have private courtyard patios for outdoor living and in-ground irrigation systems. Prices start in the low $300’s and can go up to the mid-$400’s with options and upgrades.

Community amenities include pool, cabana, beautifully landscaped central park, sidewalks, and paved walking trails. Lake Wylie is just down the road and there is easy highway access for a morning commute. Cadence at Tega Cay is located right near the heart of Tega Cay close to shopping, dining, and all of the services you need.

There are currently only 12 homesites, 9 available homes, and 7 unreleased homesites left in the entire community. If you would like to schedule a private tour of Cadence at Tega Cay or any other community in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings on our website here.

July Market Report

August 12, 2020 by lkw_df Leave a Comment

The big story in the Charlotte area is once again lack of inventory. The Covid-19 crisis has affected all industries and real estate is no exception. We are now down to just 5,580 homes on the market, representing just a 1.3 month supply of homes. This is down 50% from the same time last year when we were lamenting inventory woes at just a 2.6 month supply of homes. A balanced market between buyers and sellers is typically considered to be a 4-6 month supply. This means that we are in a historic seller’s market meaning that sellers have been seeing multiple offers and they can expect to get top dollar for their homes. We have seen the average sales price creep ever higher to $344,991, up 10.6% from the same time last year.

These numbers are brought to you by the Canopy Realtor Association, which reports on real estate transactions throughout the Charlotte region with their Canopy Multiple Listing Service. According to their monthly report, closed sales were up 11.4%, pending sales were up 23.7% and new listings were up 4.1%. This shows that buyers and sellers are still in the market and are trying to take advantage of historically low interest rates for loans. We could start to see a rebound in the market over the next few months.

When you look at the numbers for Lake Wylie, you see that there are just 194 homes on the market, down from 465 last July. Homes are commanding a premium as the average sales price rose to $462,818 up 21.6% from last year at this time. Homes are selling above asking price as the average list price is $448,513. This means that you should expect to pay on average $14,305 more than list price on a home in the area. Pending sales in Lake Wylie are up 36.8%, but closed sales are down 2.5% and new listings are down 4.8%. Maybe people aren’t willing to give up the lake lifestyle during a pandemic.

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

Neighborhood Spotlight: Laurel Walk

August 8, 2020 by lkw_df Leave a Comment

Belmont has a gem of a neighborhood you should check out called Laurel Walk. This great spot is brought to you by Eastwood Homes and has some amazing features. First is the location, close to downtown Belmont, an easy 20 minute commute to Uptown Charlotte, and a short drive to Lake Wylie.

Secondly, you will love the craftsman-style homes set in a walkable community with front porches perfect for visiting with neighbors. And it’s not just the community that is walkable, you can walk to Belmont Town Center where you can get everything from groceries to take out food, to a haircut, to your morning coffee. Students can also walk to highly rated Belmont schools.

Laurel Walk offers both single family and townhome living options. These homes are new construction so you can help personalize and create the home of your dreams. All of the homes have open floor plans, large windows bringing in tons of natural light, and craftsman style attention to detail.

The single family homes start in the mid-$300,000’s and have at least 3 bedrooms and 2.5 bathrooms and all have 2 car garages. Square footage is typically around 2,600 and many of the homes have a guest suite on the main floor in addition to a luxury owner’s suite on the second floor. Yards are perfectly sized for less yard work so you have more time to yourself.

Townhomes start in the $260,000’s and have at 2-3 bedrooms and all have 1 car garages. Square footage for all units is right around 1,600. Highlights include a pet condo under the stairs in some units, quartz counters in the open kitchen, tankless hot water heaters, and again the craftsman style attention to detail.

Remember that you want representation for yourself if you are interested in new construction. The builder’s representatives work for the builder, not you as the buyer. If you would like to learn more about Laurel Walk or any other community in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings on our website here.

Pandemic Shifts

August 7, 2020 by lkw_df Leave a Comment

The Covid-19 pandemic has changed all facets of life as we knew it. Most of our children are no longer in physical school, and most of us are no longer physically going into our jobs. This dramatic shift may have some long lasting consequences. One of the major consequences could be a radical shift in commercial real estate.

Many offices have decided that with their workforce all working from home that they will not need a physical workplace anymore. This change means less overhead for the company, but can come with its own pitfalls if their workforce has to help manage their children’s online education at the same time they are trying to get work done.

Other offices are going to completely re-work how their offices function. They will turn more into meeting spaces with areas for working and collaboration. They can use their budgets that were previously held for business travel to make these changes without needing to take on additional debt.

Many companies are also looking to relocate their offices to places with less population density. This could mean shorter commute times for workers as businesses push out into the suburban areas. It could mean a radical shift in Uptown Charlotte.

It remains to be seen how many of the shifts that have been made due to the pandemic will remain in place once a vaccine is available and life returns to a new normal. Until that time, it will be interesting to see what creative solutions people come up with to make sure they can get everything done.

If you are interested in finding a home in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings on our website here.