Lake Wylie Blog

Neighborhood Spotlight: Chapel Cove

June 5, 2016 by lkw_df Leave a Comment

The New York Times ran a story today stating that houses keep getting bigger even as families get smaller. New construction homes have more square footage, more bedrooms, and more bathrooms than they did in 1980. However, the average size of a household has shrunk to 2.58 people.

Chapel Cove in Lake Wylie is a fantastic master planned new construction community where you can get a larger home you desire with all of the features you want.

Homes in Chapel Cove start in the $200’s and range all the way up to the $800’s or more with custom features. Arranged by developer Crescent Communities, Builders include Pulte Homes, CalAtlantic Homes (formerly Standard Pacific Homes) and taylor morrison.

Homes range in size from 2509 square feet to over 4000 square feet. Features of the home depend on the builder but can include gourmet kitchens, outdoor living spaces, luxury bathrooms, private lake access and more.

Amenities include a multi-use club room with kitchen for community events, cardio and strength fitness room with after-hours access, swimming pool with children’s splash area and adult gathering area, tennis, basketball and pickleball courts, multiple gathering and lounge areas around the pool deck, hard and soft surface trails around the amenity center, canoe and kayak launch and an activity lawn.

Located close to Steele Creek just off Shopton Road West, Chapel Cove has Lake Wylie to the North and west. Thomas McAlister Winget Park is to the east with a playground, soccer fields, basketball courts and a disc golf course. A short drive to the South is the 1100+ acre McDowell Nature Preserve with a Nature Center, campground, hiking trails, play areas, fishing and boating access.

Chapel Cove has convenient access to a myriad of outside attractions. Multiple routes give you easy access to I-485, which means that uptown Charlotte, the U.S. National Whitewater Center, Carolina Place Mall, Ballantyne, and The Charlotte Douglas International Airport, to name a few, are just minutes away.

Chapel Cove pool with children's splash area — Chapel Cove pool with children’s splash area

Currently there are 33 homes on the market in Chapel Cove with 8 under contract. They are listed in price ranging from $296,990 to $$825,000. In the last year homes have sold for between $369,850 to $599,900.

Read the full New York Times story here.

Gaston County launches Gaston Outside

June 4, 2016 by lkw_df Leave a Comment

Wednesday June 1^st marked the launch of Gaston Outside, a three year marketing initiative and image campaign designed to increase the speed of the Gaston county’s growth. The mission is to “inspire the people of Gaston to share with the world Gaston’s incredible stories and all that it has to offer as a terrific place to live, work and play.”

The hope for the South Carolina marketing agency that coined the phrase — and the Gaston County business and political leaders footing the bill — is that the two words will tell people that Gaston offers not just outdoor recreation, but a quality of life unattainable in Charlotte.

Billboards to be placed along Interstates 85 and 74 and an almost 4-minute video were unveiled at the Gastonia Conference Center on Wednesday.

Gaston Outside launch event at the Gastonia Conference Center

The cost for the three year campaign is $900,000 of which almost $1 million has been raised and promised including $225,000 from private investors. The rest comes from a mix including Gaston County Travel and Tourism, as well as Gastonia, Belmont, Mount Holly and other cities.

The initiative was launched in response to a 2015 survey commissioned by the Greater Gaston Development Corp. The survey showed that people in the Charlotte region had little or no thoughts about Gaston. Developers and investors saw the county negatively.

Gaston Outside wants to celebrate all of the people, places, businesses and natural beauty in Gaston County. If it is successful, the hope is to draw more businesses and residents to the area to help bolster the local economy, tax base, and help the area flourish.

Gaston County does have some pretty great things going for it including great outdoor living, charming towns and municipalities, strong educational programs, business friendly policies, and proximity to Charlotte. This campaign hopes to make more people aware of them. This could be a boon to existing homeowners as more people moving into the area could boost home values. It could also mean more options as developers try and build to keep up with increased demand.

As Gaston Outside says “No matter what your idea of a good time looks like, you’re bound to find it in Gaston County.” From hiking, paddling and cycling to vibrant local culture and arts, Gaston county’s opportunities for fun are endless. Hopefully it won’t be long before the campaign reaps rewards and there will be an influx of new people, energy, and opportunities in real estate.

Stunning Waterfront Home: 4613 Island Forks Road

May 28, 2016 by lkw_df Leave a Comment

Take a look at this gorgeous property at one of the most desirable addresses in Lake Wylie. This waterfront Island Forks Road home was built by the areas’s best custom home builder, McSpadden Custom Homes, and features incomparable long range main channel views, an incredible 1.66 acre lot, and the always preferred South Carolina taxes.

This stunning 4,536-sqaure-foot home offers five bedrooms and four and half bathrooms, a two-car garage, resort-style pool with breathtaking views, and a boat lift and slip for easy access to a day on the water.

Open the front door and walk through the majestic foyer of your new home. Large windows throughout the house allow for water views from nearly every room.The beautiful wood and granite kitchen
open to a generously sized family room with a fireplace to keep you warm on chilly nights. There is also a fireplace in the dining room, which also features large windows and water views.

Beautiful wood beams grace the ceilings of the family room and dining room, while the master bedroom and bonus room feature tray ceilings. The huge master bathroom has two separate vanities and a spa-like soaking tub.

Lounge on your expansive back deck or boat dock and feel like you are on vacation in your very own home! In addition to the stunning pool, jacuzzi and massive patio space for entertaining, this home also features a beautiful backyard with plenty of space to play.

At $1.5 million, this home combines everything that the best of Lake Wylie has to offer.

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

Market demand dictates Fort Mill subsidized apartments move to market rate

May 26, 2016 by lkw_df Leave a Comment

The apartment boom in the greater Charlotte area, as well as across the nation, is in full force, and even low-income housing is feeling the pressures of demand to increase their rates.

Three Fort Mill apartment buildings have been sold, and their rates will be increasing toward market demand. Current residents are concerned that they may not be able to make the rent payment, though the new ownership company, New Jersey-based Friedlam Properties, assures plenty is being done to assist the residents.

Fort Mill Townhouse Apartments on Bolin Circle across from Fort Mill High School sold for $2.65 million. The second phase of the the apartments, located on Drane Circle near the intersection of Tom Hall Street and North Dobys Bridge Road, sold for $2.37 million. The Edgewood apartments on Banks Street sold for $2.16 million.

As the units in the buildings become vacant, they will be renovated and then leased at market rate. With 144 total units and 95 percent occupancy rate, there isn’t any push to move long-term residents who pay lower rates, as the difference will be made-up with federal subsidies. Thus, there is no major rent increase on tenants who are already there.

In 1987, when the apartments were built, they served as low-income housing with rent based on a percentage of each tenant’s income. That program has since expried, and the new owners do not want the properties to remain low income apartments, but they also do not want to displace anyone.

Most current tenants whose leases were about to expire and were up for renewal, renewed at the slightly higher rate (though still not market rate), and only a handful of residents declined signing the new lease.

There are concerns over what will happen if subsidized housing continues to be converted to market rate apartments in Fort Mill. However, the demands of the housing market are dictating higher pricing.

For more details on this Fort Mill apartment purchase and what it means for the residents and the community, read the full article at heraldonline.com.

April’s market report indicates a drop in inventory and a favorable seller’s market

May 22, 2016 by lkw_df Leave a Comment

Over the past year, Charlotte as a whole, and particularly the Lake Wylie area, has seen a shift from a fairly balanced market to more of a seller’s market, as the number of homes on the market continues to dip. According to April’s monthly report released by the Carolina Regional Realtor Association, inventory is low.

Lake Wylie had 4.4 months of inventory in April, with 367 homes on the market, whereas the same month a year prior had six months of inventory and 448 homes on the market. This 18 percent drop in homes for sale and 26 percent drop in months supply are significant. With less homes on the market and an increased demand, the sales price is driving up. Last month’s average sales price was $345,297 with the median sales price locking in at $300,000. The 2015 numbers for the same month were $312,646 and $273,000, respectively, indicating approximately a ten percent increase year over year.

Last month’s number of new listings in Lake Wylie were up over 25 percent from last April’s numbers, perhaps indicating a shift in inventory.

On the contrary, as for the entire Carolina Multiple Listing Service region, there was very little change in the number of new listings from April of 2015 to April of 2016. However, there was a drastic drop in inventory (down 34.1 percent), with months supply dropping from 4.4 months to 2.9 months, and total homes on the market dropping from 14,330 to 10,513 (down 26.6 percent).

Mecklenburg County saw a similar percentage change in inventory and had only two months supply of homes for sale available in April. The market certainly seems to be favoring the sellers, but we will have to stay tuned to next month’s report to see where the numbers will lead.

Dunkin’ Donuts and more opening in Lake Wylie this summer

May 21, 2016 by lkw_df Leave a Comment

Lake Wylie is getting a brand new Dunkin’ Donuts this summer, just in time for iced coffee season. The coffee chain will be opening at the Collett development site, just off of S.C. 49 and Carroll Cove Lane. The store opening has been in the works for a while and is looking forward to quickly becoming a part of the fabric of the Lake Wylie community.

The building will be approximately 2,000 square feet and will include the always important drive-up window. Free WiFi, digital menu boards and as many as 50 parking spaces will not only make this location super convenient, but it will also be the most up-to-date design that Dunkin’ Donuts offers and will be loaded with technology.

The Lake Wylie store is slated to open by the end of June and is currently a bit ahead of schedule. The shop will hire about 30 employees, both full- and part-time, with operating hours between 5 a.m. and 10 p.m. daily.

It is conveniently located at the intersection near the new Publix and Walmart with lots of natural traffic already passing through the area. And while Dunkin’ Donuts is known for its coffee, it also offers plenty of healthy breakfast and lunch options, including sandwiches, smoothies and more.

In addition to Dunkin’ Donuts, Lake Wylie is also getting a new Taco Bell in the same location, ready to satisfy your craving for Mexican-Style fast food. With plans to hire about 40 new employees and to open on Memorial Day weekend, the store will be the latest prototype for the franchise, opening for breakfast at 7 a.m. and closing at midnight or even later.

The Collett development still has space for two more businesses to open in the center.

For more details on the project, read the full article at heraldonline.com.

Resort-style waterfront property: 7332 Lakefront Drive

May 15, 2016 by lkw_df Leave a Comment

Live the resort-style life you have been dreaming of in this beautiful waterfront property in Emerald Point. This lovely end unit on the main channel of Lake Wylie offers gorgeous views from your large balcony on the top floor.

This two bedroom, two bath home is just over 1,300 square feet and includes an owner’s suite with a huge walk-in closet. The family room has a tray ceiling and gorgeous wood-burning fireplace to keep you warm in the winter. The updated kitchen is open to the family room and offers ample storage. The master bathroom includes a generously-sized soaking tub, and there is built-in shelving in the bedroom. There is an in-unit washer and dryer, as well.

There is a deeded boat slip and two parking spaces included with the unit. HOA fees are $306 per month and include access to the beautiful community pool.

Emerald Point is considered one of the best kept secrets on Lake Wylie. It offers a quiet community full of nature and happiness. Conveniently located on the north part of Lake Wylie in southwest Charlotte, NC, it is only minutes away from the I-485 corridor. The community provides easy access to major highways, and is only ten minutes from the Charlotte airport, 15 minutes from the Pineville-Ballantyne area with lots of shopping, restaurants and entertainment, and just 25 minutes from uptown Charlotte.

The condos of Emerald Point are situated on over 26 wooded acres with over 1,450 feet of water frontage. The community boasts a tree-lined entrance and charming boardwalk leading to the swimming pool, which offers gorgeous views of the lake and marinas.

At $210,000, this property is not to be missed! For more information on this home or other waterfront properties in Lake Wylie, take a look at our website, or call 803-831-8588.

Town Spotlight: Clover

May 13, 2016 by lkw_df Leave a Comment

The Clover area of Lake Wylie is a special one, lying just south of the Carolina border with all of the beauty that Lake Wylie has to offer, as well as countless local conveniences and a great location. Located in the Northwestern part of York County, legend holds that the town got its start in the late 1800s when a small cluster of homes was built round a 5,000 gallon water tank. Large clover patches grew where excess water spilled, and thus, the name “Clover” stuck. Clover offers great schools, lower taxes and tons of waterfront properties.

Clover and the surrounding area offer a small town feeling, however it allows for easy access to big city perks with its close proximity to Charlotte and Gastonia, North Carolina, as well as Rock Hill, South Carolina. These rapidly growing urban areas offer exceptional dining, great shopping and endless entertainment, as well as a diverse job market.

The housing market in Clover is balanced, with 5.2 months of inventory currently available, indicating neither a buyer’s nor seller’s market. There are also plenty of waterfront properties consistently available in and around Clover. Over the last five years, there has never been less than 23 active listings for waterfront property in any given month, and as many as 49 listings have been available at once.

While the majority of waterfront listings in Clover in 2015, both closed and new, had sales prices of $500,000 or greater, there were still many listings at lower price points. However, the first half of 2016 has yet to see a listing for less than $400,000, possibly indicating an appreciation in the market value of homes here.

Take a look at all of the waterfront properties that are currently available in the Clover area, and find your dream home!