Lucky You Could Own A Home

If you had 11, 33, 44, 59 and 67 with Powerball number 8, you are the lucky winner who won $50,000 in the lottery on Wednesday. The winning ticket was purchased at the QuickTrip on Charlotte Highway. You have 180 days from the drawing date to collect your prize, and we know just the way to help you spend your winnings.

When you purchase a home, banks want you to put down 20% of the purchase price. If you don’t have 20% of the purchase price, there are ways to still purchase a home. You can have two loans and only put down 5%. One of the loans will be for 80% and the other will likely have a higher interest rate but will be for the other 15%.

Another way to purchase a home without the full 20% down is to find a property that will accept an FHA loan. These types of loans have a few more requirements for the borrower, but you will be able to purchase a home with only 3.5% as a down payment if you have a FICO® credit score of at least 580. FHA loans also require a debt-to-income ratio less than 43% and income and employment verification. Your loan officer will let you know all of the other qualifications you will need, but the property will also have to pass a more rigorous FHA inspection.

If you have 20% or more to put down on the purchase of your first or next home, you may qualify for some of our historically low interest rates. Banks look at how much debt you have, what your income level is, what assets you have, and more to determine your interest rate for a loan.

If you are in the market to purchase a home in the Lake Wylie area, give us a call at 803-831-8588. We can put you in touch with the right people to get your loan process started, then we will help you find your perfect home. You can view all current listings and create custom searches on our website here.

End of Year Market Wrap Up

The Charlotte area had a great year in the Real Estate market. Despite inventory woes, prices were up for both median and average for the entire year of 2019. Median price was up 7.1% over 2018 to $255,000. The average price was up 5.9% to $303,722. This is great news for sellers, but is not as great for buyers who have to bring more money to a purchase.

There is more good news for the entire Charlotte area where new listings, pending sales, and sales of homes were up year over year. Closed sales were up 5.9% with 50,854 homes successfully heading to the closing table. Pending sales were up 8.9% to 52,031 homes. There were 61,069 new listings, up 1.7%.

The numbers for Lake Wylie look good as well. Closed sales were up 19.7% to 1,474 homes sold. There were 1,536 pending sales, a rise of 27.2%. New listings were up to 1,850 which represents an increase of 11.3% year over year.  This looks good for 2020 as the market is robust with sales.

Also interesting is that the average sales price in the area is almost flat year over year. There was a slight increase from $397,844 last year and $399,851 this year. This 0.5% increase could be a sign of a few waterfront properties difference, or could be a trend with more affordable homes sold in the area. The median sale price was actually down year over year, but not by much. The 1.4% decrease took the median sales price from $354,765 to $349,900. It is important to remember that these numbers can be skewed compared to the whole Charlotte region due to small sample size.

Homes spent less time on the market in 2019 vs. 2018. Days on market until sale was down by 8 days from 69 to just 61, a decrease of 11.6%. This shows that the area is very desirable. It looks like Lake Wylie’s real estate market is in position to remain strong in 2020.

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

December Market Report

It’s a new year and there is a new name for the Carolina Regional Realtor Association. They have rebranded and are now known as the Canopy Realtor Association. The name means shelter, support, nurturing, growth, and coverage and is fitting since the association encompasses more area than ever before. It spans through 12 counties in North Carolina and 4 counties in South Carolina and now includes separate reporting for Asheville. They still provide the same reporting from the rebranded Canopy MLS previously Carolina MLS.

The big story from the Charlotte Region in December is the same as most of the rest of the year. There is a lack of inventory, and climbing prices in the area. There is now just a 1.7 month supply of homes in December 2019 compared with a 2.4 month supply in December of 2018, that’s a decrease of 29.2%. Average prices were up 9.9% from $281,728 to $309,752. There is hope for change next year as new listings, pending listings, and closed sales were all up over last year at this time. This could signal a very good January.

When you look at the numbers for Lake Wylie, we are starting to feel more of the inventory pinch that the rest of the region has been plagued with for so long. There is now a 2.3 month supply of homes, down 37.8% from a 3.7 month supply last year. Average home price was actually down from last year at this time from $410,735 to $369,221, a decline of 10.1%. Keep in mind that a few waterfront sales can change that number dramatically due to the small sample size. The market does look like it will be strong in January due to new listings, pending sales, and closed sales were all up year over year.

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

Featured Listing: 144 Autumn Falls #17

A rare opportunity to own an immaculate townhome in Autumn Cove is available now. This wonderful home has everything you need and is close to shopping, dining, highway access, commuting distance to Uptown Charlotte, and is close to Lake Wylie. The home is zoned for award winning Clover schools, yet has lower South Carolina taxes. This impressive home is a must see and won’t last long.

This home has a great open floor plan with the kitchen open to the breakfast room, and large great room. This is the perfect place to entertain as there is also a dining room and a half bath downstairs. Upstairs you will find the large master with spacious walk-in-closet and en suite bath complete with a garden tub and separate shower. There are two additional bedrooms and one more full bathroom upstairs.

Outside this home you will find a private fenced back yard with patio perfect for outdoor dining and relaxing by the fire pit. There is also a one car garage perfect for car storage or to set up as a workshop.

Autumn Cove is located right across the street from Crowders Creek Elementary School on the Lake Wylie Road peninsula. This means that you are close to the Buster Boyd Bridge right in the heart of Lake Wylie. Residents can enjoy the outdoor community pool, playground, and walking trails.

If you would like to schedule a private tour of this home or any other home in the Lake Wylie area, give us a call at 803-831-8588. You can view additional details on this home here and view all current listings and create custom searches on our website here.

Neighborhood Spotlight: Clarendon Estates

Just across the Buster Boyd Bridge, you will find the amazing neighborhood of Clarendon Estates. This community is made up of 74 homes with large lots, newer homes with plenty of space and great storage. They are close to Lake Wylie, Rock Hill and are commuting distance from Uptown Charlotte. There is great shopping and dining nearby as well as natural areas and parks to enjoy the lake. Residents enjoy lower South Carolina taxes, but still get to take advantage of award winning Clover schools.

Homes in Clarendon Estates were built around 2004-2008 and are typically 3-4 bedrooms and 2-3 bathrooms in 2,400 to over 3,000 square feet of living space. Homes have many high end features including chef’s kitchens, granite counters, custom cabinetry, hardwood flooring, and crown molding. Many of the homes have bonus rooms, home offices, guest suites and more.

Many of the homes have great outdoor living spaces to take advantage of the scenery of the large yards. Most of the lots are between one and two acres affording plenty of privacy. Some of the homes have detached garages with plenty of room for a workshop, or possibly a second living quarters.

In the past year, only five homes sold in Clarendon Estates showing that homeowners are reluctant to leave this tranquil spot. They sold for between $325,000 and $445,000 with an average sale price of $395,500. Homes sold quickly as well, with most of them spending a month or less on the market before going under contract.

If you are interested in joining the community in Clarendon Estates, give us a call at 803-831-8588. There is currently one home listed for sale, but showings will not start until just after the holidays. You can view all current listings and create custom searches on our website here.

Explore Golden Pond

Picture yourself living in a great neighborhood close to Lake Wylie with a private pond, and oversized lots with tons of privacy. Sound good, then you need to check out Golden Pond. This pocket neighborhood is located off of Hands Mill Highway on the South Carolina side of the lake.

From Golden Pond, you can get to Charlotte Highway 49 in just a few minutes so you can have a quick commute in to Uptown Charlotte and Rock Hill. This also connects you to the lake to enjoy watersports, as well as into the town of Lake Wylie for shopping, dining, and community gatherings.

The homes in Golden Pond are varied and range from ranch style to double wide homes. Homes were built in the late 1990’s and typically have 3-4 bedrooms, 2-4 bathrooms, and around 1,200 to 2,000 square feet. Many of the homes have multiple outbuildings for storage, parking, workshops, second living quarters and more. Some of the homes have great features to enjoy the wildlife such as decks, patios, and sunrooms. There are even a few with pools, either in-ground or above-ground. There is no homeowner’s association so you can be as active or inactive in the community as suits your needs.

Homes in Golden Pond sell quickly, in the last year only four homes sold in a range of 0 to 12 days on the market before they went under contract. These homes sold for between $123,000 and $164,000 so they are a great value due to the location and size of lots.

If you are interested in a home in Golden Pond, call us at 803-831-8588. We will let you know as soon as one comes on the market. You can view current listings and create custom searches on our website here.

 

Featured Listing: 1017 Pepperwood Place

A rare gem of a home has come on the market in the desirable Autumn Cove at Lake Wylie. This home is located at 1017 Pepperwood Place which is in the heart of the community. There is quick access to Charlotte Highway 49 making a trip to Uptown easy. There are many local shops and restaurants nearby, and you can walk right down the road to reach Lake Wylie and the new Lake Wylie Park.

Making this home unique is the three bedroom ranch style plan with a bonus room that can be used as a fourth bedroom. There are not many of these in the neighborhood and they are perfect for the buyer not looking for an upstairs. In addition to the convenient floor plan, there is an amazing sunroom and deck to enjoy the abundant natural light.

This well maintained home sits on a desirable corner lot and is zoned for great schools while enjoying lower York County tax rates. There are three full bathrooms and large closets for plenty of storage. The are 2,202 square feet of living space with an open floor plan perfect for entertaining.

Outside you’ll find a low maintenance exterior and a side load two car garage. The lot is 0.28 of an acre which has large trees and easy to maintain landscaping. The home was built in 2004 and has an in-ground irrigation system.

The Autumn Cove at Lake Wylie neighborhood has a pool and playground for residents to enjoy. There are low homeowners association fees that cover the maintenance on the common areas. There is also dry boat storage available for residents.

If you would like to schedule a private showing of this home, call us at 803-831-8588. To view the full listing for this home click here. You can view all current listings and create custom searches on our website here.

Featured Listing: 13 Longbow Court

A great opportunity to own a condominium just came on the market in Lake Wylie. This unit at 13 Longbow Court is located within the gated community of River Hills in the Bluff Villas complex. Everything in this end unit has been tastefully updated, from the kitchen to the bathrooms, to the bedrooms. This home is sure to be the private serene retreat you have been looking for.

This home features abundant natural light from the many windows including a wall of windows in the living room. You can cozy up to the fireplace in the winter, and watch the birds in the trees outside. You will be able to stretch out in the three bedrooms and two and a half bathrooms in just over 1,900 square feet of living space.

Resort style amenities are a hallmark of River Hills and residents can make use of all of them. There is a private pool, park and marina just a short walk away that are just for Bluff Villas. In the wider neighborhood you will find 24-hour security, golf course, marina, rented boat slips, dog park, beach, park, playground, fitness center, tennis courts, sidewalks, streetlights, and country club.

Homeowners here enjoy the lower South Carolina taxes and award winning Clover schools. The neighborhood was originally built in the 1970’s and has cool retro styling. Units are multi-story with vaulted ceilings making the spaces feel grand. Each unit has a large storage/utility room to store water toys to help make full use of the lake.

The location of this home is truly perfect. It sits off Hamilton Ferry Road close to Highway 49. This means residents have quick access to shopping, dining, and they are close to the Buster Boyd Bridge making a trip to Charlotte within easy commuting distance.

This home is move-in ready, so if you would like to schedule a private tour, call us at 803-831-8558. You can view all current listings and create custom searches on our website here.

See our full write up of Bluff Villas here.

Neighborhood Spotlight: Carolina Coves

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

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.