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March Market Report – Greater Lake Wylie Area

April 19, 2023 by lkw_df Leave a Comment

The trend continues in the Charlotte area, with more homes listed for sale, staying on the market for longer, and sellers accepting less than asking price. The market has definitely slowed down from the frenzy we had last year. The data from the Canopy Realtor Association shows that new listings are down, pending sales are down, and closed sales are all down from the same time last year.

When you look at the data for the Lake Wylie area, you see the same trend. There are now 135 homes for sale, up 121.3% from the 61 homes for sale last March. These homes are staying on the market for an average of 51 days before they sell, up 121.7% from the 23 days last March. These homes are selling for an average of 95.9% of list price, down 6.4% from the 102.5% of list price they were selling for last year at this time. This shows that there is room for bargaining and that buyers have room to negotiate and that there are fewer homes getting multiple offers pushing prices higher.

Closed sales are down 33.8%, pending sales are down 25.2%, and new listings are down 10.9% from last March. Prices however, are staying stable. The median price for a home was $499,945, this was up just slightly, 0.7% from $496,555 last March. List prices have been rising, 7.3% from $616,121 last year up to $661,227 this year. This shows that even though sellers think that they can get much more for their home, the market has spoken and prices are staying stable. This one spot where inflation is not holding is a relief for buyers.

If you are curious about what your home is worth or if it’s a good time for you to buy, give us a call at 803-831-8588. We would love to share our perspective on Lake Wylie and the Charlotte area. You can view current listings and create custom searches on our website here.

Is a Bi-Weekly Mortgage Right for You?

April 12, 2023 by lkw_df Leave a Comment

There are many different products you can choose from now when you take out a mortgage on your home. From traditional to FHA to VA to reverse to home equity to adjustable rate and many many more. We’re going to highlight the bi-weekly mortgage this time.

So, what is a bi-weekly mortgage? Just like it sounds, it’s one where you pay every other week instead of once per month. When you pay monthly, you have 12 payments per year. When you pay bi-weekly, you have 26 payments per year which ends up being the equivalent of paying one extra mortgage payment during the year, or 13 months of payments.

This type of payment can be great for anyone who gets paid every two weeks, but it can be tricky to budget for when you get paid monthly or twice per month. It takes discipline or just setting up automatic payments to make it work. Many people have this discipline and they set up this style of payment even though they have a traditional mortgage.

There can be great financial advantages to this style of payment because mortgages are based on compound interest. When you make extra payments, you pay directly against the principal on the loan so the interest that is calculated is less than if you don’t make extra payments. Over the life of a loan, you can save many thousands of dollars. This is different from a car loan where it is calculated on simple interest so you pay all of the interest regardless of if you pay extra principal or pay the loan off early.

When interest rates are high, like they are now, it can be hugely beneficial to pay extra on your mortgage. When your next payment comes due, you can look at your statement and see that your principal will be much lower and the interest portion of your next payment will be lower as well. Sometimes making extra payments can save you a lot of money so you don’t need to refinance to a lower rate.

Neighborhood Spotlight: Masons Crossing Lake Wylie

April 12, 2023 by lkw_df Leave a Comment

If you are looking for a waterfront community on Lake Wylie, take a look at Masons Crossing. This neighborhood is zoned for highly desirable Clover schools, has lower South Carolina taxes, and has stunning views of the lake.

Masons Crossing is located off of Lake Wylie Road in the Crowders Creek section of Lake Wylie. Highway 49 is very close so you can easily connect to the town of Lake Wylie for shopping, dining, and community events. Across the bridge, you have even more options in Rivergate. A Charlotte commute is pretty reasonable, but most of these homes have home offices so working from home is a pleasure.

Homes in Masons Crossing are grand in scale and sit on estate sized lots. All of the homes are custom built with amazing and unique features. Waterfront lots will command a premium when and if they ever come up for sale. The interior lots have amazing old growth trees and plenty of privacy making them a retreat. Homes range between 2,500 to 7,300 square feet of living space and typically have between 3 and 5 bedrooms and 3 full and 1 half bath to 5 full and 2 half baths. Expect soaring ceilings, custom storage, gourmet kitchens, and spa-like primary retreats.

In the last year, just one home sold in Masons Crossing. There is currently one home listed for sale and it went under contract in the first month of being listed. This means that you have to be ready as soon as one of these gems is ready to list so you can be the first one with an offer. We can help you through that entire process.

Neighborhood Spotlight: Palm Tree Cove

April 11, 2023 by lkw_df Leave a Comment

Palm Tree Cove is a wonderful neighborhood on the Allison Creek peninsula surrounded by Big and Little Allison Creeks. These are two of the most desirable recreational areas on Lake Wylie in South Carolina. This community is known for casual yet sophisticated living and includes two sections, Palm Tree Cove and Palm Tree Cove Ii.

To find Palm Tree Cove, head down Hands Mill Highway and turn east on Allison Creek Road. It is conveniently located between Tega Cay, Lake Wylie, York, and Clover so you have many great options for nearby community events. There is great shopping, dining, and entertainment in each town, and you are within a daily commute distance from Uptown Charlotte.

Neighborhood amenities include a pool, walking trails, dry boat storage, and lake access. Homes are zoned for top rated Clover schools, but residents pay lower county taxes so they have the best of both.

Homes in Palm Tree Cove range from 2,500 to well over 4,000 square feet of living space. They have features like 3-5 bedrooms, 2.5-4.5 bathrooms, home offices, dual primary suites, in home theaters, gourmet kitchens, flex-spaces and much more.

In the past year, 16 homes sold in Palm Tree Cove. Prices ranged from $354,990 to $750,000. There are currently two homes for sale in the neighborhood, and one of them is already under contract. These homes don’t stay on the market long either, the currently under contract home was off the market in just 3 days.

Neighborhood Spotlight: Riverpointe LakeWylie

April 5, 2023 by lkw_df Leave a Comment

If you are worried about commute time to Uptown Charlotte from the South Carolina side of Lake Wylie, there are some great options for neighborhoods on the North Carolina side of the lake. One of these is Riverpointe. This amazing neighborhood has two landscaped entrances that lead you through rolling hills with stately custom homes and expansive views of Lake Wylie.

Riverpointe is located just to the east of the Buster Boyd Bridge. This great location is perfect for joining in community events in Lake Wylie, and is also close to shopping, dining, and entertainment in Rivergate. Just past Rivergate, you can connect to highway access on I-485 or I-77 connecting you with all points around Charlotte.

Homes in Riverpointe were built between 1989 and 2023 by a variety of custom builders. The almost 200 homes have large lots, and plenty of square footage for home offices, open floor plans, gourmet kitchens, and much more. Many of these homes have been updated, added on to, or completely refreshed inside and outside since they were built. Most have full brick or stucco exteriors, 2 or 3 car garages, soaring ceilings, extensive trim work, custom closets, sunrooms, decks and terracing.

Community amenities include an outdoor pool, club house, tennis courts, playground, and gazebo. There is community lake access as well. Most streets end in cul-de-sacs and are not through streets so you will see children playing, residents walking, biking, skating, or exercising their dogs.

In the past year, seven homes and two lots sold in Riverpointe. The interior lot sold for $80,000 while the waterfront lot sold for $340,000. You see the same divide among the homes. Interior homes sold for between $550,000 and $695,000. Waterfront homes sold for between $1,200,000 and $1,280,000. There are currently three listings in the neighborhood and all are interior lots. Two of the three are over 5,000 square feet so are listed for more than $900,000. The other is slightly smaller and is listed for $775,000.

Neighborhood Spotlight: The Pinnacle at Handsmill Lake Wylie

March 27, 2023 by lkw_df Leave a Comment

Pinnacle at Handsmill is a great neighborhood within a great neighborhood of Handsmill at Lake Wylie. This community has it all, from resort style amenities, to Lake Wylie access, to lower South Carolina taxes, to award winning and top rated Clover schools. What more could you ask for?

The Pinnacle at Handsmill is located right off Handsmill Highway just south of the intersection with Highway 49. This means residents are commuting distance to Uptown Charlotte, close to Charlotte Douglas International Airport, and are also close to Lake Wylie, York, and Clover.

Builder True Homes was in charge of construction on the neighborhood. They build homes with 3-6 bedrooms and 2.5-5 bathrooms. Square footage ranged from 2,668 to 4,585 and included features like spa-like primary suites, and open floor plans.

Community amenities include two community boat slips, private marina, club house, pool, playground, tennis courts and fitness center. There is also private boat and RV storage for residents. In addition there are over 30 acres of green space to explore.

In the past year, just two homes sold in this desirable neighborhood. There is currently one home listed for sale, and it went under contract after just 15 days on the market. Homes typically sell in the mid- to upper-$500,000’s depending on size, features, and location within the community.

Tips on Spring Cleaning for a Quick Sale

March 27, 2023 by lkw_df Leave a Comment

Spring is the most popular time to list your home for sale. This is because the school year is coming to a close and the time between school years is the best time for most families to move. If this sounds like where you are, here are some tips for spring cleaning for a quick sale.

De-cluttering and organizing should be top of your priority list. It can be truly amazing the amount of stuff we collect in the time we own a home. Walking through each room and taking out the items you no longer use is a great first step. This can make spaces feel larger, and will de-personalize your home so potential buyers can visualize themselves living in your home. You can rent a storage space, donate, or sell unwanted items, but piling them in a garage can make that space feel smaller so we don’t recommend that if you can afford an alternative.

Clean your house from top to bottom. This means not just from the upstairs to the downstairs, but literally top to bottom in each room. Clean and dust from ceiling fans down to baseboards and floors making sure everything is in good working order as you go. You can do this job easily yourself, or hire a company to tackle the job.

Deep clean your bathrooms and kitchen. Most potential buyers will scrutinize kitchens and bathrooms closely during a home tour so make them sparkle. Scrub fixtures, and even inside appliances like the dishwasher and refrigerator. Make sure grout is clean and counters are free of clutter to show these spaces at their best.

Finally, don’t forget to freshen up your outdoor spaces. This is easier in the spring when plants and flowers are showing off with a riot of colors and scents. But, make sure to clean outdoor seating areas, outdoor furniture, and flower beds. In addition, power washing siding, garage doors, and gutters, and mowing lawns will give you that crisp curb appeal inviting buyers to come inside to see more.

Spotlight: Mariners Watch Cove Lake Wylie SC

March 24, 2023 by lkw_df Leave a Comment

The Allison Creek Peninsula is one of the most coveted spots along Lake Wylie. If you have always wanted to live there, Mariners Watch Cove is the exclusive place to be. This amazing neighborhood has large lots with majestic trees, unbelievable homes, and million dollar views, all just 45 minutes from Uptown Charlotte.

Mariners Watch Cove is perfectly located between big and little Allison Creeks, right off of Hands Mill Highway. The addresses are technically in York, but the neighborhood is zoned for award winning and highly desirable Clover schools. There are many nearby choices for shopping, dining, and entertainment. You can also quickly arrive in Rock Hill, York, or Clover for additional options, or for entertainment and community events. The Allison Creek Boat launch is conveniently right down the road.

Homes in Mariners Watch Cove were custom built and include many luxury features such as elevators, second living quarters, fully finished basements, guest houses, wine cellars, boat houses, and much more. Most of these homes have well over 3,000 square feet of living space with home offices, open floor plans, and all of the custom touches you want.

In the last year, just one home sold in Mariners Watch Cove. There is currently just one home listed for sale and it went under contract the day it was listed. This shows just how sought after this neighborhood is. Interior homes typically sell in the $400,000’s while waterfront homes sell for $1 million or more.