Lake Wylie Blog

Neighborhood Spotlight: Carolina Coves

November 20, 2019 by lkw_df Leave a Comment

If you haven’t taken a look at Carolina Coves in Lake Wylie, now is your chance. This amazing neighborhood features custom homes on large lots on the South Carolina side of the lake in York County. This picturesque spot has luxurious single-family homes in a serene setting, perfect for a relaxing retreat. The neighborhood features walking trails, common green space, and is zoned for award winning Clover schools.

Carolina Coves is located off of Pole Branch Road just down the road from Daniel Stowe Botanical Gardens. There are many nearby options for shopping, dining, and entertainment. A trip into Uptown Charlotte takes around 35 minutes and a trip to Charlotte Douglas International Airport takes around 25 minutes.

Currently there are no homes on the market in Carolina Coves, but one is coming soon. There is also one lot for sale, but it is under contract. The home coming soon has 4 bedrooms and 3.5 bathrooms and over 4,400 square feet of living space. It also has a large lot, over an acre, with an in-ground salt water swimming pool with spa. It is sure to go quickly and is expected to start showings this weekend.

In the past year, only 4 homes sold in Carolina Coves so that truly shows how desirable this neighborhood is. Those 4 homes were all 3,800 square feet and above and sold for an average of $636,250. They have 4 or 5 bedrooms and up to 6 full bathrooms. Many of the homes have luxury features such as gourmet kitchens, salt water pools, 3 car garages, butler’s pantries, extensive woodwork, and spa-like bathrooms.

If you are interested in purchasing a home in Carolina Coves, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Resort Lifestyle at The Vineyards

November 15, 2019 by lkw_df Leave a Comment

Resort style amenities lure people into The Vineyards, but the premier community keeps them there. This wonderful spot is just 20 minutes from Uptown Charlotte, and only 8 minutes from Charlotte Douglas International Airport. This unique neighborhood has great homes, and the laid-back lake lifestyle.

The neighborhood was built between 2008 and there are still some new construction homes available. There are both single-family homes and townhomes available so there are perfect options for every size and type of family. They are perfect for young families with kids, and young professionals, as well as empty nesters or those looking to downsize. Homes have between three and six bedrooms and 2.5-4 bathrooms. In the past year homes sold for between $210,000 to $525,000.

These homes have open floor plans and large windows letting in abundant natural light. Expect chef’s kitchens, spa-like bathrooms, and great storage spaces. Many of the homes have extensive woodworking, home offices, custom cabinetry, and many other unique small details.

The resort style amenities for The Vineyards include groomed walking paths, canoe and kayak dock, community boat docks, deep water boat launch, and parking lot area for cars and boat trailers. To fully enjoy your time on the lake, there are lakeside decks and picnic areas with grills on the boardwalk along the mile of waterfront. There is a secured playground area for children, outdoor family pool with splash area and super slide. A second outdoor pool has lap lanes. Residents can also enjoy the pavilion, changing rooms, and clubhouse with fitness area. There are also pickleball courts, bocce, and a fenced dog park with separate areas for big and small dogs.

If you are interested in joining the community in The Vineyards, give us a call at 803-831-8588. To view current listings, first check out our website. You can create a custom search and if you are interested in a particular neighborhood but don’t yet see the home of your dreams, we can let you know as soon as new listings are placed for sale.

October Market Report

November 15, 2019 by lkw_df Leave a Comment

The monthly report has been published with data from the Carolina Multiple Listing Services, Inc. The report is compiled by the Charlotte Regional Realtor Association which reports on the entire Charlotte metro area including parts of South Carolina. The report is clear, the trend in the Charlotte area is continuing once again. For yet another month, supply of homes has gone down while prices have risen. This is great news for sellers, as they can expect to receive top dollar for their homes, but it is continuing to be hard on buyers as they have to be ready for a home as soon as it hits the market and be ready to pay top dollar.

When you look at the numbers for Lake Wylie, supply is falling and prices are still on the rise as well. Additionally, there are not many new listings compared to last year at this time so it is unlikely that the supply of homes on the market will recover soon. In fact, the supply of homes is down to just a 2.8 month supply, down from a 4.1 month supply last year. This decline of 31.7% brings the Lake Wylie area more in line with the rest of the Charlotte area. A balanced market between buyers and sellers is typically considered to be about a 4 to 6 month supply of homes so sellers have a distinct advantage at the moment.

Prices have been rising as the supply of homes dips which is a basic rule of supply and demand. The median sales price rose from $346,000 last year to $365,000 this year. The average price for a home sale rose to $438,669 which is getting closer to the average price in Lake Norman which was $498,318, just shy of $60,000 lower.

Closed sales were up from 62 last year to 121 this year, an increase of 95.2%. Pending sales were also up from 98 last year to 133 this year, an increase of 35.7%. New listings were down from 126 last year to just 110 this year, down 12.7%.

If you would like to help bring the new listing number higher by selling your home, give us a call at 803-831-8588. If you are interested in buying a home, first check out our website to view current listings and create a custom search. If you are interested in a particular neighborhood, we can let you know as soon as new listings are placed for sale.

Fed Cuts Rates Again

November 7, 2019 by lkw_df Leave a Comment

This Federal Reserve cut interest rates this week, the third such cut this year. The US economy is slowing due to trade disputes so they cut the rate to help spur additional growth. The rate affects the cost of mortgages, credit cards, and other borrowing instruments. This appears to be the last such cut in the foreseeable future as Federal Reserve Chairman Jerome Powell said the current level is “likely to remain appropriate”.

This cut in rates is good for homebuyers as it means that the rates for mortgages should stay low. This means that many people who couldn’t afford a mortgage may be surprised at how much home is in their budget. If you are interested in purchasing a home, getting pre-qualified for a home mortgage is one of the best first steps you can take. This will help you to realize just how big of a mortgage the bank is willing to extend to you. This should be one of the most important factors to steer your home search.

Once you are pre-qualified to purchase a home, give us a call at 803-831-8588 and we can help you to narrow your search to find the perfect home for you. There are so many listings that it can be overwhelming, so call us and we will set up a meeting to define your search terms. Once we have identified potential candidate homes, we will schedule a private tour of homes so you can see if the reality of a home matches the photos you can view online.

The other category of people helped by lower rates is current homeowners. If you are stuck in a mortgage with a high interest rate, refinancing is a great option. There are many different types of refinance products available from reducing the term of years for repayment, to providing cash to the owner from equity to use to remodel your home, to just lowering your rate to reduce your monthly payment.

If you’re ready to purchase a home, be sure to create a custom search on our website here for all current listings. We are ready to help you take advantage of these great low rates so you can be in the home of your dreams.

Return on Investment High Near Lake Wylie

November 7, 2019 by lkw_df Leave a Comment

This week the Charlotte Business Journal published their rankings for the zip codes that had the best return on investment over a 10 year period. They used data compiled by Zillow Group ranging from the middle of the recession 10 years ago until this August. The methodology took the median home price from ten years ago assuming a 10% down payment. They compared to the same figures for this year to determine the change.

Sometimes it’s hard to think of your home as an investment, but you never want to think that it’s not a good one. Luckily homes around Lake Wylie fared well in the reporting. They only looked at North Carolina, so we don’t have the figures yet for the South Carolina side of the lake. Here are the zip codes nearest the lake that ranked in the report:

28012 – Belmont in Gaston County came in at number 19, with a median home value of $211,700. The area encompasses the city of Belmont all the way south to Daniel Stowe Botanical Gardens, and the North part of Lake Wylie. This is an increase of 50% or $70,500. This puts the 10 year return-on-investment of 399%.

28214 – This zip code is in west Charlotte, north of the airport and includes the US National Whitewater Center. It came in at number 11. The median home value was $184,300, an increase of 56% or $66,500. This puts the 10 year return-on-investment at 465%.

28273 – This is another west Charlotte zip code that came in at #18. This area is Steele Creek on the eastside of Lake Wylie. The median home value of homes here was $216,300. There was an increase of 51% or $72,600. This translates to a 10 year return-on-investment of 405%.

If you would like to have us help you figure out the return-on-investment for your home, call us at 803-831-8588. We can help with the entire process of buying or selling a home. Be sure to check out our website here for all current listings.

To see the full Business Journal Article click here.

Serenity on Woody Point

October 31, 2019 by lkw_df Leave a Comment

Have you dreamed about having your own private retreat on Lake Wylie? If you have, there is an amazing opportunity right now to own 4.8 acres with lake frontage that includes two cabins. You can use the property as-is, or you can turn it into your dream home either keeping the existing structures or bringing them down to create your ultimate lake dream home. There is a chance to own the entire 4.8 acres, or just a portion of the property.

This amazing spot is right at the end of Woody Point Road on the North Carolina side of the lake. The address is technically Steele Creek, a booming area which had added many options for shopping, dining, employment, entertainment, and fitness recently. From this point, it takes around 20 minutes to get to the Charlotte Douglas International Airport, and just under 30 minutes to get into Uptown Charlotte. This property is close to Shopton Road which will connect you quickly to all of the services you will need including highway access. You truly have the best of both worlds with the city close, but you can live the slower lake lifestyle.

The lake access for the property is off the main channel so you don’t have to worry about too much boat traffic. This truly makes this a serene retreat perfect for family gatherings, or just relaxing in a hammock and enjoying the view. The property features expansive views of the lake as well as having a lot of wooded acreage affording privacy and homes for local wildlife.

There are two different MLS listings for this amazing property, to view each of the listings, click here and here. If this isn’t the property for you, call us to schedule a private tour of homes and properties in the Lake Wylie area at 803-831-8588. You can view all current listings and create custom searches on our website here.

Neighborhood Spotlight: Moore’s Landing

October 30, 2019 by lkw_df Leave a Comment

There aren’t many condos right on the lake in Lake Wylie. They don’t come on the market often so when they do, you need to be ready to jump at the chance. One of the best of the communities is Moore’s Landing. The community is nestled inside River Hills and shares the amazing amenities. Homes here are zoned for award winning Clover schools, are close to everything you need, and are commuting distance to Uptown Charlotte.

Homes in Moore’s Landing were built in the late 1970’s and early 1980’s and have a great retro style. This includes cathedral ceilings, and large windows letting in light and lake views. Many of the homes have been completely remodeled in the years since they were built. There are opportunities to update these homes yourself to make it truly the home of your dreams. Most units have 2 bedrooms and 2 full bathrooms with just over 1,200 square feet of living space. Prices are reasonable as well with a typical list price at or under $200,000.

The amenities are the real story in Moore’s Landing. This makes your home seem larger and provides ample opportunities to connect with the wider River Hills community. Amenities include a business center, club house, dock/pier, dog park, fitness center, gated community, golf course, lake, playground, pond, outdoor pool, recreation area, security, sidewalks, street lights, tennis courts, and walking trails. Residents have the opportunity to join River Hills Country Club to get additional amenities.

If you are interested in a home in Moore’s Landing, create a custom search on our website here. You can call us at 803-831-8588 and we will notify you when a home here comes on the market. We can also schedule a private tour of similar homes in the area.

Chronicle Mill Redevelopment in the Works

October 25, 2019 by lkw_df Leave a Comment

A redevelopment plan is in the works for the historic Chronicle Mill in Belmont. The plan has been floating around for a while, headed by John and Jennifer Church. The Churches are longtime Belmont residents and have owned this particular property since 2013. They have been talking to city and county leaders to test the waters on the plan with the hope of a quick approval through the Belmont Planning and Zoning board.

The property is located just off the main strip, and the owners are asking for a conditional zoning to “downtown district”. This change would allow them to have the mixed use for residential and commercial. It would also allow for parking as well and would cover seven acres which also includes nine parcels in total. The process entails approval by the Belmont Planning and Zoning board, then eventually a vote later this year by Belmont City Council.

There could also be hurdles around Deed Restrictions on the properties that would need to be amended. They need approval from surrounding landowners to get the deed restrictions lifted and are working on their way to getting the required support.

The current plan is for 240 upscale one and two bedroom apartments with around 12,000 square feet of commercial and retail space. There will be garden space created with the removal of a newer section of the existing building facing Catawba Street. They will retain the mill character by using the existing facade, but the plan calls for an additional building, and a fourth floor on the existing building.

The Churches will be collaborating with Armada Hoffler Properties out of Virginia Beach, Virginia. This could be a great addition to downtown Belmont and will bring life back into the old mill building.

If you are looking to buy or sell a home in the Lake Wylie area, which includes Belmont, call us at 803-831-8588. We can help you keep tabs on this project or any other property in the area. To view current listings and create custom searches, visit our website here.