Lake Wylie Real Estate

Schedule a Tour of 4556 Water Oak Drive

April 2, 2019 by lkw_df Leave a Comment

Opportunities to get a home in The Coves on Lake Wylie don’t come up all the time. In fact, in the last year, just 5 homes were sold in the neighborhood. Currently there are just two homes on the market with one of them already under contract. If you would like to live in this amazing area, give us a call at 803-831-8588 to schedule a private tour of 4556 Water Oak Drive.

This custom home is located on an estate sized lot with just over one acre. This affords plenty of privacy and space for outdoor living. The backyard is so large it has a screened porch, decks, outdoor fireplace, and a huge irrigated green space perfect for pets, yard games or sports.

The location of this home is perfect, with Lake Wylie just across the street. You truly feel relaxed and peaceful in the small community. There are options for shopping and dining just five minutes away so you can be as connected as you want to be. A trip to Uptown Charlotte is a quick 35 minutes and Charlotte Douglas International Airport is just under half an hour.

When you walk into this home, you will see the incredible attention to detail that is a hallmark of a true custom built home. You will enter to see soaring ceilings, gleaming hardwood floors and an open floor plan with abundant natural light. A large custom kitchen is perfect for entertaining or just a casual family meal. There are also 4 large bedrooms with master on the main floor, bonus space, 4 and a half bathrooms and two separate two car garages.

This home is zoned for desirable and award winning Clover schools and has lower South Carolina taxes. What’s not to love? Check out our full listing for this property here.

Visit Longlea Estates

March 29, 2019 by lkw_df Leave a Comment

If you haven’t taken a look lately, it’s time to check out Longlea Estates in picturesque Clover, South Carolina. This amazing neighborhood contains stately homes with generous lots in one of the most desirable school districts. You will get great value in a home here as residents also enjoy lower South Carolina taxes.

Clover is a great spot to call home, with small town feel, but still close to Uptown Charlotte. Longlea Estates is also close to Lake Wylie, perfect for a hike, or soaking in all that lake life has to offer. There are many choices for shopping, dining, and entertainment nearby.

Longlea Estates is made up of 224 homes, built in the early 2000’s. There are a variety of floor plans to choose from and lots are typically between a third of an acre to over half of an acre. Homes can range between 1,800 to over 3,500 square feet and contain 3 to 5 bedrooms and 2.5-3.5 bathrooms. There are ranch style homes as well as two-story homes so there is a home for every family here.

In the past year, homes in Longlea Estates have sold for between $190,000 and $267,000 with an average price of $233,389. There is currently only one home on the market here representing 0.9 months of inventory. The rest of Clover has 5 months of inventory which shows how desirable Longlea Estates truly is.

For more information on this or any other neighborhood in the Lake Wylie area, give us a call at 803-831-8588 or visit us on the web at LKWRealty.com.

In Charlotte, Prices Going Up, Sales going down

March 28, 2019 by lkw_df Leave a Comment

The Charlotte Business Journal has reported on the newest S&P CoreLogic Case-Shiller Index. Based on the results, home prices are starting to slow down in the metro Charlotte area. Prices rose at an increase of 5.103% which is still higher than most of the 20 metro areas covered by the Case-Shiller Index. This is the smallest gain since April of 2015 and could be signaling a slow down trend.

At the same time as we experienced the small gain in sales, mortgage rates have risen and then fallen again. In January of 2018 the rate was 3.95%, it climbed to 4.95% in November of 2018 and as of mid-March 2019 they are back down to 4.8%. This dip in the interest rates could boost home sales as has been the trend in the past.

To break down the numbers for Lake Wylie, the Case-Shiller Index only looked at one zip-code, 28278. Here is the break down:

28278 zip code, up 14.2% on price from $283,124 in 2017 to $323,428 in 2018 up $40,304

28278 down 17.8% in number of sales from 1,110 in 2017 to 912 in 2018 down 198

These are numbers for all of Lake Wylie from the MLS Report from the Carolina Regional Realtor Association:

Lake Wylie as a whole was up 5.3% from $352,304 in 2017 to $409,539 in 2018, up $57,235

Lake Wylie as a whole was up 10.1% in number of sales from 1,114 in 2017 to 1,227 in 2018, up 113

The rest of the country has seen a slow down in home sales. With the national market it appears as if it is slowly going back to “normal”. This means that buyers will have more power in negotiations, but they will still have to work hard for a good deal.

If you are interested in purchasing or selling a home in the Lake Wylie area, give us a call at 803-831-8588. You can view current listing and create custom searches on our website here.

To read the full article in the Charlotte Business Journal, click here.

Gaston County Residents Could See Rise in Taxes

March 19, 2019 by lkw_df Leave a Comment

Property Taxes have been reassessed for Gaston County which affects some Lake Wylie area homeowners. We all hope for appreciation on our properties, until it’s time for our taxes to be recalculated. With this most recent recalculation, Gaston County Residents will see an average rise of almost 23 percent.

The valuation is used to calculate property taxes and is based on current market value for properties. The tax rate is expected to remain the same at 87 cents per $100 of value. This means that if you have a $100,000 valuation that goes up by 23% you now have a value of $123,000. Your taxes would go up from $870 to $1070.10, a difference of $200.10. If your taxes are paid through an escrow account for your mortgage, your monthly payment should go up to account for the rise, in our example that would be $16.68 per month.

The notices for reevaluation started to be sent out this week so some residents already know what their new assessments are. For those that do not have them yet, they should arrive soon. If you can’t wait, you can check Gaston County’s website starting March 12th. The county website should have a link to the Tax Office’s new website with the updated property values.

The tax office has not done a reassessment since 2015 when average values actually dropped by 1 percent. That was during the recession, and values have rebounded greatly since that time.

It is important to remember that the rise of 23 percent is just an average. Some homeowners will see a rise of more than 40 percent, and some will see less than the 23 percent rise. The Tax Office stated that some commercial properties are up more than 60 percent. If you feel that your property valuation has been raised in error, there is an appeal process that can be started via the Tax Office website. You can also appeal in the old fashioned way by going to the Tax Office. Appeals need to be filed within 30 days of notice. The county is expecting a large number of appeals due to the shock many residents may feel.

If you are looking for a home in the Lake Wylie area in Gaston County or any of the other counties that border the Lake, give us a call at 803-831-8588. You can view current listings and create custom searches on our website here.

To read more see the article in The Gaston Gazette.

Neighborhood Spotlight: The Palisades

March 13, 2019 by lkw_df Leave a Comment

The Palisades is a diverse collection of neighborhoods in Lake Wylie with many different builders, styles, and price points. There are existing homes and there are also builders still in the area so you have the opportunity to build your dream home from the ground up.

Lennar, Toll Brothers, CalAtlantic are a few of the builders still in the construction phase. There are many different sections with new construction homes available such as Lanterns, Austin’s Creek, Morningside, Regency, Bear Creek, Eagles Landing, Montage and Highcliff. Homes in these areas start in the low $300’s and can go for well over $1 million for the custom homes. Homes are grand in scale and are full of unique and custom details. Many of the homes are on large lots of at least half of an acre. Three car garages are common as are grand outdoor living spaces including outdoor kitchens. Interiors boast coffered ceilings, butler’s pantries, top-of-the-line appliances, gourmet kitchens, spa-like bathrooms and much more.

The Palisades is zoned for terrific schools including Palisades Park Elementary School inside the neighborhood. Other schools nearby include Southwest Middle School and Olympic High School. There are also many private school options nearby.

People love The Palisades for the homes, but also for the amenities. The resort style amenities include Clubhouse, Equestrian Facilities, Equestrian Trails, Fitness Center, Golf Course, Lake, Playground, Pool, Recreation Area, Security, Sidewalk, Street Lights, Tennis Court(s), Walking Trails. This is in addition to the opportunity to join The Palisades Country Club.

Uptown Charlotte is nearby and is close enough for a morning commute. There are many options for shopping, dining, and entertainment at Rivergate, or with convenient highway access to additional choices.

If you are looking for a home in the Palisades or any other Lake Wylie neighborhood, give us a call at 803-831-8588. You can view current listings and create custom searches on our website here.

February Market Report

March 13, 2019 by lkw_df Leave a Comment

The monthly numbers have been published by the Carolina Regional Realtor Association. They base the report off of numbers from the Multiple Listing Services, Inc. The big story for the Charlotte region is that almost every number is down. From supply of homes to new listings, to days on market from list to close, all of these numbers are down. The numbers that are up are average and median list price.

When you look just at Lake Wylie, the numbers are a little bit different, but keep in mind that the small sample size can make the trends seem extreme. In Lake Wylie, most of the numbers are up from last year at this time. New listings are up 12% over this time last year, from 133 to 149. They are also up when you look at year-to-date, 10.6% over last year from 246 to 272.

This increase is responsible for an uptick in the supply of homes which rose from 3.5 months up to 3.6 months. A balanced market between buyers and sellers is considered to be a 4-6 month supply. This is welcome news for buyers as they have had a harder time in recent years with a rise in multiple offer situations and prices above list. If this trend continues, we could see prices slow in their rise.

Prices for homes in Lake Wylie have increased from an average of $382,147 last February to $393,761 this February. This represents a 3% increase year over year. When you look year-to-date, there has been an 8.4% rise in average sales price which could be the result of a few large sales.

Pending sales were way up year over year from 91 up to 120, a rise of 31.9%. This means that we should see strong sales for the next few months as the homes that are pending head to the closing table. As we head into spring, we should see the market speed up.

If you are looking for 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.

Neighborhood Spotlight: Pinnacle At Handsmill

March 7, 2019 by lkw_df Leave a Comment

Handsmill at Lake Wylie is an amazing gated community with resort style amenities right on the shores of the lake. Pinnacle at Handsmill is a new construction neighborhood within Handsmill that offers a perfect balance of style, space and design. The neighborhoods of Handsmill have lower York taxes, award winning Clover schools, and the slower pace of lake living.

Builder True Homes is working on this project and is bringing amazing homes at a great price point. Homes start just below $300,000 and include 3-6 bedrooms, 2.5-5 bathrooms in 2,668-4,585 square feet of living space. These homes have amazing style in addition to all of the features you need. Homes feature kitchens open to family rooms, large islands, abundant storage, spa-like master suites, and much more.

Located in York County, Pinnacle at Handsmill is just a 30 minute drive from Uptown Charlotte. The neighborhood is right on Lake Wylie with two community boat slips, private marina, club house, pool, playground and fitness center. There is also private boat and RV storage for residents in addition to the 30+ acres of green space and tennis courts.

In the past year, homes in Handsmill have sold for between $470,000 and $1.7 million. There are currently four homes in for sale in Pinnacle at Handsmill ranging from around $347,000 to around $391,000. There will eventually be 67 homes in this section of the community.

To schedule a private tour of homes or lots in this or any other neighborhood 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.

Worrels River Development Gets Greenlight

March 7, 2019 by lkw_df Leave a Comment

At Monday’s city council meeting, Belmont leaders approved a plan for construction of a large new neighborhood of 209 single family homes just North of Daniel Stowe Botanical Garden. The project is expected to cost around $62.7 million.

Builder Fielding Homes acquired the property last year after it was annexed by the city of Belmont. There was no zoning change needed for the parcel as it was already zoned “suburban residential”, but City Council still needed to approve the plans after the completion of a traffic impact study.

Fielding Homes will be responsible for building the homes in multiple styles and building materials. Current plans call for brick, stone, and fiber cement exteriors. Architectural details will include dormer windows. As the project progresses, more details will become available.

In addition to the homes, Fielding Homes has committed to extend the Seven Oaks Trail so it can be tied into the Carolina Thread Trail. They have also committed to save at least 25 percent of the tree canopy. The current plans exceed this requirement by creating additional open space and additional buffering from main roads.

The next phase of development is for the builder to complete detailed engineering drawings which could take several months. After that, the builder will have to work to resolve utility and transportation issues.

It may be some time before individual lots are up for sale, but we can help you when they are available. To learn more about this or any other neighborhood 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.

To read the full article, see the Gaston Gazette.