Lake Wylie Blog

Lake Wylie’s Derby Farm

March 3, 2022 by lkw_df Leave a Comment

March 2022. If you still haven’t found the home of your dreams, maybe a new construction home is for you. Knotts Builders are in the process of building a great new neighborhood called Derby Farm. Located on the North Carolina side of Lake Wylie, Derby Farm is next to The Palisades Country Club and is close to shopping, entertainment, and much more.

Homes in Derby Farm are all in process of being built though some of the homes are nearing completion. All homes are over 3,000 square feet with 5 bedrooms, 3 or 3.5 bathrooms, and stone, shake, and metal accents on the exteriors. Interiors feature quartz countertops, wide plank hardwood flooring, downstairs primary suites, and much more. As this is new construction, you can help with the finishing details and really make a home perfect for your family.

Though there are no amenities within this exclusive community, Palisades Country Club is an option for residents to join. The country club has tennis, golf, a pool with a swim team, and a full fitness facility. Lake Wylie is nearby with many public access points, and yacht clubs and marinas for boat storage and private access.

Only one of these amazing homes in Derby Farm has sold so far, but there are three others that are already listed for sale with two under contract. Other homes will only be offered for sale once the framing is completed. Prices start in the mid-$500,000’s and can go up from there based on options and upgrades.

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

Rare Opportunity in Established Riverwood

March 3, 2022 by lkw_df Leave a Comment

It used to be that new construction homes were available for a long time before they went under contract. Over the last few years, there has been a chronic lack of supply as builders couldn’t keep up with demand. Now there are supply chain issues plaguing new construction with even more issues. This is why it is important to know your builder and get in early on new construction developments or find a custom homebuilder so you can buy land and build your dream home.

Sometimes it is possible to find a new construction home in an existing neighborhood. These late construction homes that are not part of the initial build out of a neighborhood can be a great purchase. Riverwood in Lake Wylie has one of those gems. The neighborhood was completed over five years ago, but there is one lot available for a new construction home ready to be built on a waterfront lot.

This rare opportunity to build a home has plans in the listing for 4 bedrooms, 3.5 bathrooms, and a two car garage in 2,704 square feet of living space. The buyer will work closely with the builder and would have options to customize the space to meet the needs of their family.

Over the past year, six homes changed owners in Riverwood. They sold for between $415,000 and $500,000 with an average price of $446,716. The currently listed new construction home is listed for $925,000 but is a waterfront home with a dock on the water permitted. Waterfront homes typically command a premium and many on the lake are listed for well over a million dollars.

For more information on this new construction home 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.

Neighborhood Spotlight: Ridgewater Lake Wylie area

March 1, 2022 by lkw_df Leave a Comment

If you are looking for a new construction home near Lake Wylie, Ridgewater in Southwest Charlotte is a great spot to land. These affordable homes offer resort style living close to shopping, outdoor recreation, with easy commute times. The wooded community feels tranquil, creating a retreat so you will always feel like you are on vacation.

Ridgewater is located off McKee Road south of Youngblood Road right near The Palisades and just down the road from Rivergate Shopping Center. There is nearby highway access making an Uptown commute into Charlotte a breeze. Also nearby are McDowell Nature Preserve, Daniel Stowe Botanical Gardens, Carowinds Amusement Park, and Lake Wylie.

Builder Mattamy Homes is offering their Classic Series in the neighborhood featuring single-family homes with one and two-story plans. Some homes have basements as well for additional living space and storage. Homes have between 3 and 6 bedrooms with options for bonus rooms, home offices, and much more. There are five different plans to choose from with a variety of options to customize the space for a total of 2,003-3,258 square feet. Homes have two or three car garages.

Community amenities for Ridgewater include a swimming pool, cabana with covered patio, playground, pocket parks, and nearby lake access.

In the past year, 44 homes went to the closing table in Ridgewater. They sold for between $307,500 and $553,644 with the average sales price coming in at $454,731.

There are currently 23 homes for sale at varying stages of construction with only one of those homes not already under contract. According to the builder, there will be seven additional homes that should be listed soon, so if this one home is not your dream home, we can help you be ready when those seven are released.

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

Coltex Mills Park Project In The Works Clover/Lake Wylie

February 24, 2022 by lkw_df Leave a Comment

March 2022: Another mill conversion project is in the works right now in Clover. This time it is the mill site at 602 Old North Main Street. It used to be the Coltex site, aka Clover Spinning Mill. It has had other owners in its long history as well, but the documents filed with Clover Town Council list the new project as Coltex Mills Park.

Still in the planning and zoning change part of the process, Coltex Mills Park is expected to have around 52 townhomes, 3 single family homes, 3 duplex homes, and some commercial space. Plans state that the site is more than 6 acres in size.

This project is currently surrounded by homes, commercial properties, and some vacant land. The plans show the townhomes having two-car garages and driveways. There would be private streets, sidewalks, and on-street parking inside the property as well. The developer has also outlined plans for pocket parks, a playground, and outdoor grilling area, park benches, and outdoor seating.

Now that the project is before Clover Town Council, the council will need to approve zoning changes and approve the plans. After that, the construction could face other hurdles like utility connections, and traffic studies before it can finally break ground. This is one to watch for sure.

To read more about this project, see this article in the Herald Online.

For more information on 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: Camburn Lake Wylie

February 24, 2022 by lkw_df Leave a Comment

March 2022 Just a few miles from the Buster Boyd Bridge is a recently completed neighborhood called Camburn. Though officially in Clover, this neighborhood still has the feel of a Lake Wylie community. This exclusive enclave has just 32 estate sized homes zoned for award winning Clover schools, with lower South Carolina taxes.

Builder Taylor Morrison completed building Camburn in 2021. This means that you get a home that is as good as new, with none of the noise and hassle of new construction. Camburn is located off of highway 557 in walking distance to Oakridge Elementary and Middle Schools. This location is ideal for getting away from it all, but being close enough for an uptown commute.

Lots in Camburn are all around an acre in size, perfect for these generously sized homes. Homes have traditional styling and are all over 3,000 square feet of living space. All have open concept with great areas for entertaining, home offices, flex spaces and ample storage. Most homes have between 3 and 5 bedrooms, and 3-4.5 bathrooms. Some homes have first floor guest suites or primary suites. All have three car garages. The community also features a pond, hiking trails, and streetlights.

In the past year, just four homes changed owners in Camburn. They sold for an average of just over $550,000. Most homes sold quickly, with one going under contract the day it was listed. This means that you have to be ready when one of these homes hits the market. There are currently no homes for sale in Camburn, but that can change as we head into the typically hot spring market. We can help you be prepared to present an offer as soon as one of these amazing homes is available for sale.

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

Drift Restaurant Coming to|Lake Wylie Waterfront

February 24, 2022 by lkw_df Leave a Comment

The big story to hit yesterday is Drift on Lake Wylie Restaurant coming to the waterfront of Lake Wylie. Brought to you by the owners of The Pump House, Drift will bring steak, seafood, and pasta to the lake with a dining room, two patios, and drive-up boat access.

Drift will be a contemporary style chophouse located at McLean Marina in Belmont near the Daniel Stowe Botanical Garden. The building is a modern farmhouse/barn concept which harkens back to the farming roots of the surrounding area, as well as looking forward to the modern future. The second floor will be available for events and private parties.

The owners of the restaurant are also known for The Pump House in Rock Hill, and Napa at Kingsley in Fort Mill. If you like those, you’ll love Drift. Besides the seafood, steaks, and pasta, they will feature craft beer, and a selection of over 1,000 bottles of wine.

This exciting new space will be a big draw for the area which currently only has Papa Doc’s as a boat accessible restaurant. Papa Doc’s is in the space that was formerly T-Bones. The feel of the new restaurant will be a little less casual with a more upscale menu than Papa Doc’s so they won’t be direct competition.

The restaurant will open this spring and will initially only be open for dinner service. As the summer comes in, expect them to open for weekend lunches, and possibly more times as needed.

For more information or to apply for a job at the restaurant, visit www.driftlkw.com

For more information on 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.

January 2022 Market Report – Greater Lake Wylie Area

February 17, 2022 by lkw_df Leave a Comment

As things are starting to return to normal on the Covid front, many people are wondering if everything else is going to return to normal as well. When we look at the real estate numbers for January, we can say that the real estate market is not quite normal yet. Prices are still much higher than expected and inventory is still close to an all time low.

When you look at the Canopy Realtor Association report for the entire Charlotte region for January, you see that prices are rising, inventory is low, and homes are selling quickly. Average sales prices are still over 100% of list price meaning that there are still bidding wars and some multiple offer situations happening. And this is typically the slowest part of the yearly cycle.

When you look at the numbers for Lake Wylie, you see that there were 69 homes on the market, down from 165 in January of 2021. Due to lack of supply, the pandemic, and a host of other factors, prices have risen to a median home price of $504,833. This is up 37.8% in only one year. Homes are selling for an average of 101.1% of list price and going under contract in an average of 25 days.

New listings, pending sales, and closed sales were all down in January when compared to the previous year. This indicates that many sellers are waiting for the typically busy spring season to list their homes. This strategy may backfire this year as interest rates are on the rise which can price many buyers out of the market. We may not see as many multiple offer situations if there is a flood of new listings and fewer buyers able to purchase them.

What this means for buyers is they need to bring more money to the table and be prepared for a little less competition for homes. What it means for sellers is they need to be ready for a sale to be quick, but maybe not as quick as last year. We are still seeing homes selling quickly and for sellers to insist on leasing the home back for a month or two after closing so they have time to purchase their next home. Both buyers and sellers need to be aware of this trend, so they can prepare.

For more information on 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 Heights Belmont NC January 2022

February 17, 2022 by lkw_df Leave a Comment

If you want to be near the lake, but not on the lake, consider Catawba Heights in Belmont, North Carolina. This community is close to Lake Wylie, but has so much more than just the lake. For instance, Belmont Abbey College, the US National Whitewater Center, a quaint downtown with shopping, dining, and community events, and the Catawba River within walking distance. Catawba Heights is a great neighborhood to explore in the Belmont – Mt. Holly area, close to everything you need, and a quick commute to Uptown Charlotte.

Catawba Heights is located just North of Belmont Abbey College. It contains an eclectic mix of homes of all shapes and sizes so there is sure to be a home perfect for any family. These homes range from 672 to over 2,600 square feet of living space with 1-4 bedrooms and 1-3 bathrooms. Styles range from bungalow, to ranch, to split-level. Original homes in the neighborhood were built in the late 1940’s to the 1950’s. Additional homes were built in the 1960’s and 1970’s with a few homes built in the early 2000’s. This helps give the community unique character. Many of the homes have been remodeled since they were built, but retain one-of-a-kind features.

In the last year, fifteen homes changed owners in Catawba Heights. Prices ranged between $90,000 – $383,000 with an average sales price of just over $250,000. There are currently three homes and one lot for sale in the neighborhood with two of the three homes already under contract. The lot is three parcels all together for a total of 1.3 acres on a corner lot on Belmont-Mt. Holly Road.

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