Important Information for Buying Lake Property

The Charlotte Business Journal recently published an article entitled “What to consider when buying lakefront property in the Charlotte area”. This is a great reminder of all that goes into a lake purchase that may not apply to properties not on the waterfront. This is especially important when there is not much inventory so homes are selling quickly. This means that you have less time to make important decisions so you want to make sure you have considered every angle.

  • Price is first and probably most important. Main channel properties which typically have the best views, command a premium on price, even over other lakefront properties. Cove properties typically have less boat traffic so that can be a consideration for buyers as well.
  • Riparian Buffer – this is a 50-foot buffer from the water that has to remain in a vegetated state. This is mostly to counteract erosion and protect animal habitats. Property owners cannot remove trees on the first 30 feet and there are minimal changes that are allowed by law.
  • Docks and Boathouses – there are many properties that already have a dock or boathouse, but this does not mean that you can build one on your new property. There is a permitting process through Duke Energy and only homeowners are allowed to apply for a permit. This means that if a dock is a must have for you, you can ask a current homeowner to apply for a permit as a condition of a sale. Boathouses are typically grandfathered in and have regulations of upgrading, typically limited to fixing but not over-improving.
  • Insurance can be a factor as well. You need to make sure your policy covers your property as well as watercraft and retaining walls if they are present. This is an additional consideration that you typically don’t have if you don’t have a waterfront property.

There can be many additional steps in the process of lakefront homes and having the best representation on your side is essential. If you are interested in purchasing a lakefront property, let one of our experts help you navigate the process. Call us at 803-831-8588. You can view current listings and create custom searches on our website here.

 

To read more, check out the full article in the Charlotte Business Journal here.

November Market Report

Once again, the trend is continuing that there is not much inventory, and prices are climbing higher. In all of Charlotte, there is just a one month inventory of homes for sale, just 4,554 homes. This is down 52.4% from last year at this time when we thought it was historically low inventory. This year we are really seeing the inventory crunch and when homes are listed, they are practically flying off the market.

The same is holding true when you look just at Lake Wylie. There are just 171 homes on the market in the area, down from 361 at this time last year. This is a reduction of 52.6%. These homes are selling quickly, with just 32 days on average before a sale, down from 55 days last year. This means that homes are selling 41.8% quicker than last year at this time. This is great news for sellers, but is harder on buyers.

Sales prices are climbing as well with the average home selling for $446,518. This is up 10.9% from last year’s average sale price of $402,663. Climbing prices are harder on buyers as well which means if you are in the market to purchase a home right now, you need to be as prepared as possible and could still end up in a bidding war with another buyer.

Realtor.com has ranked the Charlotte area the 3rd best market in the country for 2021 in their predictions. This means that there will probably not be a price correction in the near future, however analysts predict that there will be more homes on the market in the spring as people who delayed listing in 2020 will list in 2021 which could ease some of our inventory woes.

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 current listings and create a custom search on our website here.

Neighborhood Spotlight: Sanders Landing

If you are looking for a modern farmhouse in coveted Clover schools, be sure to check out Sanders Landing. This great neighborhood is full of new construction homes on large lots, with all of the modern farmhouse touches including shiplap.

Sanders Landing is located off of Lawrence Road just south of Clover, South Carolina. Just a few minutes away you’ll find Lake Wylie with many watersports and recreation areas you can enjoy.

The neighborhood started building in 2019 and phase three of homes is now open. Homes start around 2,000 square feet and can be much larger. They have 3-4 bedrooms, bonus rooms, and can have up to 3.5 bathrooms. Kitchens are lavish and floorplans are open

Homes have 2 or 3 car garages and sit on lots averaging 1-2 acres, but some lots can be as large as 8 acres. Many of the homes have screened in porches, and space for sports courts, pools, playscapes, and gardens.

In the last year, 14 homes sold in Sanders Landing ranging in price from $330,000 to $430,000. There are currently 5 homes and 4 lots available in the neighborhood with 3 lots and 1 home already under contract.

To schedule a private tour of homes in Sanders Landing or if you would like to learn about any other neighborhood in the Lake Wylie area, give us a call at 803-831-8588. You can view all current listings and create your own custom home search on our website at lkwrealty.com

 

Neighborhood Spotlight: Patrick Place

Just minutes from Lake Wylie, in desirable Clover, South Carolina, you’ll find a gem of a neighborhood called Patrick Place. This beautiful community is comprised of stately, brick, single-family homes in a secluded feeling wooded setting. The neighborhood amenities take advantage of nature with wooded trails, picnic pavilions, ball fields, and a basketball court. There is also a historic building called “The Cabin” available for private resident use.

Homes in Patrick Place are all custom built so have touches built to suit for each resident. Many homes have chef’s kitchens, media rooms, bonus spaces, home offices and more. Lots are large, between ½ and 1 full acre so there is plenty of room for outdoor sports, pools, lawn games, and socially distanced gatherings.

There is currently one lot offered for sale in Patrick Place. This is a perfect opportunity to build your dream home from the ground up. This lot is sloped so it is perfect for a crawl space or basement style home. You can bring your own builder and really create something special here.

In the last year, just six homes sold in Patrick Place for an average sale price of just over $430,000. Patrick Place is currently a seller’s market, especially compared with the 3 month supply of homes in Clover and the 2.9 month supply in York County.

If you are interested in buying or selling a home in Patrick Place or would like to learn about any other neighborhood in the Lake Wylie area, give us a call at 803-831-8588. You can view all current listings and create your own custom home search on our website at lkwrealty.com

New Development on the Horizon

A new development is in the works on Lake Wylie and Little Allison Creek. The proposed project is being put together by Fielding Homes which is a local builder working in the Fort Mill and Lake Wylie areas. Their previous projects include Mason’s Bend and Paddler’s Cove just to name a few.

The new project is called Lakeside Glen and the plans show that it will be a 425-lot single-family residential project. The site sits on 305.7 acres located between Highway 274 and Allison Creek Road.

This project has been in the works for some time, with a preliminary plat originally filed in March of 2015. There have been changes and revisions since the original filing, the most notable has been increasing of minimum lot size.

There are not many more details available at this time so we still don’t know the size or price range of the homes yet. The York County Planning Commission will continue to work with Fielding Homes as this project comes to fruition.

To learn more about this new development, call us at 803-831-8588. Visit our website LKWRealty.com to learn more about Lake Wylie and to view current listings and create custom searches of available homes.

August Market Report

The Covid-19 pandemic has changed the game for the real estate market in recent months. The monthly numbers from the Canopy Realtor Association report on the Canopy Multiple Listing Service is out and we have the details.

If you look at the entire Charlotte Region, which includes 12 counties in North Carolina and 4 counties in South Carolina, you see that prices are up, homes are selling quickly and that there are fewer homes on the market.

When you look just at the Lake Wylie area, you see that prices are up, homes are selling quickly, and that there are fewer homes on the market. This is the same trend that is holding true.

In August of last year, there were 427 homes for sale in the Lake Wylie area. This year there are only 190, a decrease of 55.5%.

Homes are going under contract in an average of 45 days, 12 days quicker than last year. The average home is sold 100 days after it is listed, down 8 days from last year.

Prices are up as well, the average list price of a home in Lake Wylie is $456,073, up 9.1% from last August. Sales prices are also up, 5.4% to an average of $432,606.

There are 23.3% more pending sales this year than last year which means that we should have strong sales figures for next month as many of these sales close. There were also 25% more new listings this August showing that we should see many of those homes go under contract to keep the numbers strong for the next few months. Colder weather usually slows the market down, but we may see that happen later than usual since the spring bump was pushed to the summer.

If you are interested in buying or selling a home in the Lake Wylie area, give us a call at 803-831-8588. For more information and to search available homes, be sure to visit LKWRealty.com.

Featured Listing: 228 Ridge Reserve Drive

If you have been thinking about building your dream home in the Lake Wylie area, look no further than our new listing at 228 Ridge Reserve Drive. This amazing property is just about a third of an acre in highly desirable Heron Cove. We just wrote yesterday about this wonderful neighborhood, if you want to read the full article, click here.

228 Ridge Reserve Drive is a great lot on a cul-de-sac street with great woods ready for you to custom build the home of your dreams. The requirements of the lot call for at least a 2,200 square foot home that can be on a basement or crawl space. You can bring your own builder, or use one of the neighborhood builders.

The location of Heron Cove is great as it is just across the Buster Boyd Bridge in the heart of Lake Wylie. This means that you are in perfect position to take advantage of local shops, restaurants and community events. Being in South Carolina means lower taxes, but you still get to take advantage of excellent Clover schools. Uptown Charlotte is a quick commute, and quick highway access will make a short trip to Charlotte Douglas International Airport.

Heron Cove is an upscale community with amenities already built and ready for use. There is a pool and clubhouse in addition to waterfront park and dry boat storage. There are walking trails, a gazebo, and you are walking distance to swimming in the lake.

Don’t miss out on one of the last lots in the established community in Heron Cove. Call us at 803-831-8588 to schedule a private tour of the property and the entire neighborhood. To view this listing, click here. To view all current listings and create custom searches, visit our website here.

Serenity on Woody Point

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: Liberty Hill

After a beautiful Labor Day weekend, many of us are ready to sell out homes and move to the Lake. That relaxed lifestyle is even more tempting so you can keep that laid-back feeling all year round. If that’s your goal, Liberty Hill is the place for you.

Located off of Handsmill Highway south of Highway 49, Liberty Hill is close to the heart of Lake Wylie, but far enough away to seem secluded. To the North, near the Buster Boyd Bridge you will find shopping, dining, and entertainment. There are restaurants on the water to enjoy the view, or you can drive your boat up and dock. Just across the Bridge, you’ll find additional options at Rivergate. You can tour Daniel Stowe Botanical Gardens or McDowell Nature Preserve just a few minutes away. For the commuting folks, Uptown Charlotte isn’t far, and for work or pleasure, Charlotte Douglas International Airport is close as well.

Liberty Hill is popular because it has no HOA, is zoned for desirable and award winning Clover schools, and has lower South Carolina taxes. In fact, homes in Liberty Hill don’t come on the market often at all. In the last year, only two homes sold in the entire neighborhood. Currently there are three homes on the market with one of them already under contract. Waterfront homes command a premium, but non-waterfront homes still have large lots and many have water views.

Many of the homes in Liberty Hill were custom built around 2007. They have large lots, all over an acre, but some over 3 acres in size. This affords plenty of privacy as well as space for outdoor living. Many homes have pools, decks, fire pits, outdoor kitchens, sports courts, and more. Homes are grand in scale with most homes over 3,000 square feet. The three current listings are all over 6,000 square feet of living space.

If you are interested in a private tour of homes in Liberty Hill, call us at 803-831-8588 to schedule with us. To view current listings and create custom searches, click here to view our website.

State of the Housing in the Charlotte Market by UNCC

A comprehensive report issued last week by the Childress Klein Center for Real Estate (CKCRE) at UNC Charlotte offered a sobering picture of the State of Housing in the eight-county Charlotte Region. Using a wide range of housing data from 2010 – 2017, the report concludes that our region is woefully under-producing both for-sale and rental housing, leading to a growing affordability crisis that is most directly impacting middle-income families.

Read the article:

https://rebiccharlotte.com/2019/01/22/unc-charlotte-state-of-housing-summit/