Lake Wylie Blog

Neighborhood Spotlight: McKee Ridge

February 13, 2019 by lkw_df Leave a Comment

Knotts Builders is about to close out on a beautiful new community called McKee Ridge. This amazing spot is adjacent to the Palisades Country Club and is close to Steele Creek and Lake Wylie. This spot is unique as it is close to Ballantyne and Uptown Charlotte, but homeowners save as there are lower county-only taxes.

You may already know Knotts Builders from some of their other amazing neighborhoods. In addition to custom homes, this local builder is responsible for Brookline and Hawk Haven which is coming soon.

Homes in McKee Ridge have welcoming entries and great style. These grand homes have between 2,300 and 4,050 square feet of living space. Homes have 4-5 bedrooms and 2.5-4.5 bathrooms. Some plans have first floor guest suites, home offices, gourmet kitchens, open concept floor plans, hardwood floors, and much more. Prices started in the mid $200,000’s and in the last year have sold for as much as $475,000.

The location of McKee Ridge, off Youngblood Road is perfect for commuters as you can get to Arrowood Station on the light rail for park and ride. You are close to many employers in Ballantyne as well. Rivergate shopping is close for great dining options as well as shopping and community events. Palisades Country Club is a benefit for the whole family as is Lake Wylie, McDowell Nature Preserve, Steele Creek Athletic Association, and many outdoor parks, golf courses and more nearby.

Children in McKee Ridge currently attend Palisades Elementary, Southwest Middle and Olympic High School. Some amazing private schools are a short drive away including Palisades Episcopal School and Lake Point Academy.

If you would like to schedule a private tour of homes in McKee Ridge or any other neighborhood in the Lake Wylie area, call us at 803-831-8588. You can also view current listings and create custom searches on our website here.

January Market Report

February 13, 2019 by lkw_df Leave a Comment

The monthly report has been published by the Carolina Regional Realtor Association. The CRRA take data collected through the Multiple Listing Services, Inc to compare year over year trends in the real estate market.

When you look at the entire Charlotte region, you see that the main story is the decline in sales year over year. Sales were down 9% from last year at this time and have been down year over year for the last 9 months in a row. This sharp decline this month could be due in part to the government shut-down. The general trend of the cooling of the market could be a great thing for balancing the power between buyers and sellers, but we need more listings to hit the market. The supply of homes is holding steady at a 2.2 month supply and a balanced market is considered to be between 4 and 6 months.

When you look at Lake Wylie in particular, sales are down even more than the entire region, but you have to keep in mind that the smaller sample size can make the numbers seem a little extreme. Closed sales were down 27.4% but they went from 73 down to 53.

The better story in Lake Wylie is that pending sales and new listings were both up. Pending sales were up 32.5% from 77 to 102. This bodes well for a rise in closings next month and is a sign that seller confidence is on the rise. New listings were up 8.8% from 113 to 123. The supply of homes for sale in Lake Wylie is now at 351, which holds us steady at 3.4 month supply which is the same as this time last year.

If you are interested in 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.

Lake Wylie/Steele Creek/ Charlotte Real Estate report

February 9, 2019 by David McCorkle Leave a Comment

The yearly numbers are in for 2018 for the Lake Wylie/Steele Creek Real Estate Market. The Carolina Realtors Association compiles data from the Carolina Multiple Listing Services to get a portrait of the local real estate market and provide us with data to analyze for our readers interested in Real Estate. This is what they show.

The Charlotte Region:

When you start digging into the numbers, for the entire Charlotte region sales were down 14% from December of 2017. Prices were up slightly, with the average sales price up 1.1% to $282,894. Inventory was down yet again from a 2.3 month supply to a 2.2 month supply, a decline of 550 homes. This leaves sellers again in the best position in real estate deals with a balanced market considered to be a 4-6 month supply of inventory. Pending sales were dead even and new listings were down 4.4% from this time last year.

In the Steele Creek area zip codes 28278 and 28273 the Market is extremely tight,

1325 Homes were sold compared to around 2000 in 2017. Currently there were only 15 Homes priced under $300,000 in the entire 28273 area, most sell within 10 days of entering the market and the overwhelming majority of those were priced under $350,000.

York, Clover and Lake Wylie: Zip Codes 29710 and 29745

A similar pattern continues in the South Carolina Market, sales were down from 2017 from a high mark of 1300 to 1135 in 2018, the majority of those 848 were priced under $350,000. Current active inventory is 221 Homes.

When you look just at Lake Wylie, South Carolina non waterfront resale Homes the story is a little bit different. Closed sales were indeed down year over year 15.3% from 98 to 83. Due to the small sample size, the percentages can look extreme so please keep that in mind. Average price was up year over year to $409,539, an increase of 16.2%. Inventory was dead even from last year in terms of months of supply at 3.3, but remember about that extreme note from earlier, there were actually 26 more homes on the market.

This means that sellers are still in a slightly better position in the Lake Wylie area. New listings are on the rise in the area with many new construction projects helping to boost the supply. The new listings were up 23.9% from 67 to 83. Pending listings were down year over year from 75 to 62, down 17.3%. Homes spent longer on the market in 2018 with days on market up 102% from 51 to 103, but this probably reflects new construction homes which typically stay on the market substantially longer than existing Homes.

In River Hills there is an extreme shortage of Homes on the Market the lowest in recent memory 52 closed last year with currently only 9 on the Market. New Homes accounted for an amazing 245 sales with strong sales in the Paddlers Cove Community

WATERFONT MARKET UPDATE

Median prices continue to rise in the waterfront market due to low inventory and high demand, as of this writing there were just 91 active listings in both Carolinas down from the 120 to 140 we experienced over the last decade with a median asking price of $839,000 which is over $100,000 more than last year with only 5 priced below $600,000.

The 1 Million plus market was very active with 11 Million Dollar plus Homes closed in 2018 and currently 14 are on the market, both numbers are about the same as 2017. A total of about 120 legitimately waterfront Homes sold down from about 160 from the year before due to a shortage in inventory with a median price pushing close to $725,000 up from the low $600,000’s a number that stayed steady for some time.

TIPS FOR BUYERS AND SELLERS:

In this unusual Housing market it is still important to discuss Home staging, photography, drone shots, brochures, marketing, Web presence and most of all pricing strategy. Here are a few other tips to guide the process.

The Real Estate transaction is a complicated and emotional process. Contracts and addendums are extensive sometimes reaching 20 to 30 pages.

Make sure you review all the documents prior to listing or purchasing a property, that way there will be no surprises when time comes to make an offer or negotiate an offer..

Understand the hard deadlines for Loans to be approved, Inspections to take place and negotiations on any repairs, speaking of repairs this is the biggest deal killer of them all as Inspectors are paid to find out everything that is not perfect with the Property, that offends most all Sellers.

The best tip of all is always hire an experienced professional Agent not a friend of a friend that just got Licensed or the former Barber or Hair Stylist. Transactional experience is key to a successful and Happy Purchase or Sale.

David McCorkle

David lives on Lake Wylie and is the Principle Broker of Lake Wylie Realty. David has been a Licensed Broker for 40 Years.

Neighborhood Spotlight: Chateau Lake Wylie

February 7, 2019 by lkw_df Leave a Comment

Just a little bit away from the lake you will find a great new construction neighborhood in Steele Creek called Chateau. These moderately priced homes are surrounded by natural areas, but are also close to all of the shopping and dining options you need. Nearby highway access connects you to major employers, sporting events, amusement parks, and Charlotte Douglas International Airport.

Chateau is located off of Smith Road walking distance to River Gate Elementary School. The neighborhood is just off Steele Creek/160 and Hamilton Road close to Rivergate shopping center, Charlotte Premium Outlets, Walker Branch Greenway, and McDowell Nature Preserve. There are also nearby public access points for lake living on Lake Wylie.

Home builder Lennar is offering two and three story single family homes in Chateau from the $260’s. Homes have between 2,205 and 4,734 square feet of living space including 4 to 6 bedrooms and 2.5 to 5.5 bathrooms. There are 13 plans to choose from in two sections called Traditions and Enclave. Homes have open concept floor plans, sumptuous owner’s suites, second floor laundry facilities. There are quick move-in homes available or you can design your home from the ground up.

The neighborhood at Chateau offers a peaceful retreat that includes amenities to entertain residents of all ages. The clubhouse, fitness center, outdoor swimming pool, tennis courts, and playground serve residents and provide opportunities for connection and community building.

To schedule a private tour of homes in Chateau or other neighborhoods in the Lake Wylie area, give us a call at 803-831-8588 or take a look at our website.

Exclusive Enclave at Harper’s Pointe Lake Wylie

February 7, 2019 by lkw_df Leave a Comment

Harper’s Pointe is a new construction community of single-family homes located on the North Carolina side of Lake Wylie. This intimate neighborhood has just 21 homes that include basement lots as well as waterfront homes with lots around half of an acre. These homes are in a cul-de-sac just off Bankhead Road close to schools, shopping and dining, and entertainment. RiverGate Shopping Center and Charlotte Premium Outlets are just down the way with many options for all that you need. Nearby access to Highway 49 connects residents quickly to Uptown Charlotte.

The neighborhood was conceived by local Bonterra Builders which has become part of national builder Taylor Morrison Homes. Harper’s Pointe is located on a stunning lakefront peninsula nestled between two coves on the northern end of the lake.

Homes range from over 2,400 square feet to over 3,500 square feet and offer 3-5 bedrooms and 2.5-4.5 bathrooms. There are 8 unique floor plans with a variety of options and upgrades available, but each home features a grand rear deck with fantastic lake views. Homes feature two or three car garages, and many include well-appointed master suites, grand two story great rooms, bonus spaces, and much more. Homes have great attention to detail, whether in the coffered ceilings, or the modern open-concept designs, gourmet kitchens and spa-like bathrooms.

Children in Harper’s Pointe are currently zoned for highly rated public schools. Current assignments are for Palisades Park Elementary, Southwest Middle, and Olympic High Schools. Please verify school assignments as they can change from one school year to the next.

In the past two years, homes in Harper’s Pointe have sold for between $505,500 and $784,830. Homes on waterfront lots will command a premium, but fully finished basements can push some of the other homes up in value as well. New construction homes start at $422,990.

For more information on this neighborhood or other waterfront properties in Lake Wylie, take a look at our website, or call 803-831-8588.

Be the first to get in on Camburn Lake Wylie

January 31, 2019 by lkw_df Leave a Comment

Be one of the first families to get in on the new neighborhood of Camburn. This Clover neighborhood is just 30 minutes from Uptown Charlotte and is near to Lake Wylie for great recreation. With just 32 home sites, Camburn is an exclusive community that won’t last long.

Camburn is a new community of traditionally styled estate-sized homes on large lots in suburban Clover. With lower South Carolina taxes, residents don’t have to sacrifice anything and these homes are zoned for award winning Clover schools. Builder Taylor Morrison is offering homes with classic curb appeal, covered porches, and modern floor plans with great energy efficiency.

Located just 4 miles from the Buster Boyd Bridge, Camburn has easy access to shopping, dining, entertainment, and can connect quickly to Uptown Charlotte and Charlotte Douglas International Airport via I-77 and I-485.

Create the home of your dreams by choosing from one of six different modern floor plans. Homes have open-concept living spaces with great areas for entertaining including gourmet kitchens. These homes have between 3,000 to 3,655 square feet of living space including 3-5 bedrooms, 3-4.5 bathrooms. One and a half or two story plans are available and all have three car garages. Many of the homes have first floor guest suites or first floor master suites. Dens, lofts, formal dining rooms, tray ceilings and game rooms are available options. Rooms have ample storage with walk-in closets.

Prices start in the mid $300’s. Call us at 803-831-8588 to schedule a private tour of lots. We can help walk you through the entire process and will represent you as a buyer, not the builder. You can view current listings and create custom searches on our website here.

Light Rail Plan Includes Gaston County

January 31, 2019 by lkw_df Leave a Comment

Looks like current and future residents of Gaston County have more hope that light rail will extend into the area easing congestion. Charlotte Area Transit System Ceo John Lewis Jr. said “We’ve heard strong support from Gaston County, so we’ve agreed to explore extending the line not just through Mecklenburg County but continue west into Gaston.”

As part of the 2030 plan, CATS has been exploring extending to include an east-west line connecting to the airport. Officials are now pitching having the line extend across the Catawba River into Belmont or possibly Gastonia. This would be a boon for residents of Belmont and would be a way for college students at Belmont Abbey College to be more connected to the city.

There are only a few major roads that cross the Catawba River so they are and will remain congestion points for traffic commuting into Charlotte. The new light rail line would ease the traffic on those congestion points by reducing the number of cars on the road during peak times.

The line would be part of the Silver line which would then extend from Matthews in the east to Belmont in the west, mainly following highway 74. The entire plan hinges on the state DOT project to widen the U.S. 74 bridge over the Catawba River. If the bridge design includes allowances for the light rail, then the project is a major step toward fruition.

What all this means is that now is the best time to get a home in Gaston County as once everything is totally official, prices will most likely rise.

Schedule a private tour of homes in the area by calling 803-831-8588. View current listings and create custom searches on our website here.

To read more about light rail, check out the full article in The Gaston Gazette.

Neighborhood Spotlight: Ridgewater

January 24, 2019 by lkw_df Leave a Comment

If you are looking for a new home in Southwest Charlotte with quick access to Lake Wylie, let us take you on a private tour of Ridgewater. This new community of homes is prestigious and highly coveted. Brought to you by Mattamy Homes, Ridgewater offers amazing homes and amenities.

Located off of McKee Road south of Youngblood Road, Ridgewater has a great location near The Palisades. There is great tranquility in the wooded setting, but close by you will find everything you need from grocery stores, dining, shopping and more. Recreation nearby includes McDowell Nature Preserve, Daniel Stowe Botanical Gardens, Carowinds Amusement Park, and of course Lake Wylie. Nearby highway access will connect you easily with Uptown Charlotte, Charlotte Douglas International Airport, and more.

Ridgewater is currently under construction with two model homes, 15 plans to choose from and currently 10 quick move in homes. There are also many homes currently under construction and opportunities to build your dream home from the ground up. Two additional phases should open soon for more choices of lots. There are many properties that back to green space as well as cul-de-sac properties available.

In Ridgewater, Mattamy Homes is offering their Trademark and Classic Series homes. They include amazing architectural details, superior standard finishes and many options for personalization. Homes have one or two stories with 3-6 bedrooms, 2-4.5 bathrooms, 2,003-3,258 square feet of living space, and 2 or 3 car garages. Amenities for the community include a swimming pool, cabana with covered patio, playground, sidewalks, pocket parks, and nearby lake access. Homes start in the upper $200’s and can go to the upper $300’s with larger plans and personalization options.

For more information or to schedule a tour of Ridgewater or other similar neighborhoods in Lake Wylie, take a look at our website, or call 803-831-8588.