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/

Lake Wylie/Steele Creek/ Charlotte Real Estate report

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.

 

New Restaurant Coming to Lake Wylie

Residents have been waiting with baited breath to find out what will replace beloved T-Bones on the Lake. The wait is finally over. A new restaurant and bar is headed to the prime Lake Wylie spot called Papa Doc’s Shore Club.

T-Bones on the lake was a fixture of Lake Wylie for 24 years. Located on Highway 49 on the South Carolina side of the Buster Boyd Bridge, T-Bones was the perfect location for car riders as well as boaters. It served thousands of customers Western themed seafood, steaks and late night comfort food. This location has been a restaurant for almost 50 years so before T-Bones it was Hungry Fisherman.

The new Papa Doc’s Shore Club is being put together by Charlotte’s Bottle Cap Group. In Charlotte they have been behind restaurants Ink N Ivy, All American Pub, Slate Charlotte, Whiskey Warehouse, Jacks Corner Tap, Brazwells Premium Pub, Hot Taco, Rosemont and Oak Room. They also have locations in Greenville and Charleston, South Carolina.

Papa Doc’s Shore Club is expected to serve a modern American menu including seafood influences. Offerings will include oysters, lobster tails, and daily chef’s specialties. The bar will feature a tiki-themed cocktail menu. They plan to serve lunch and dinner each day, have a merchandise store, and have to-go service for boaters.

Expect Papa Doc’s to be a great gathering space for community events as well. T-Bones was known for charity work and community events and Papa Doc’s wants to fill that slot. Hopefully they will continue the annual Lake Wylie Children’s Charity fall benefit concert, Riversweep, and the Lights on the Lake holiday boat parade as well as many smaller events throughout the year. An opening date has not yet been set, but expect it sometime in 2019.

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

To read more about this exciting new project, check out the articles in The Charlotte Business Journal or The Charlotte Observer.

Neighborhood Spotlight: Pierpointe

Come and visit Pierpointe, a remarkable enclave of custom homes on the main channel of Lake Wylie. These homes have stunning views both inside and outside and epitomize the lakeside lifestyle. Add close proximity to major employers, an international airport, and Uptown Charlotte and this location is perfect.

You approach Pierpointe from Pine Harbor Road at Shopton Road. This means that Rivergate is just minutes away providing most of the necessities. There are shops, restaurants, and grocery stores in Rivergate. Residents can quickly get to I-77 or I-485 to connect with Charlotte Douglas International Airport and Uptown Charlotte.

Homes in Pierpointe are grand in scale and full of unique features. Many of the homes have two-story plans and some have fully finished basements as well. Some of the homes have extensive formal gardens, some have guest houses, some have media rooms, there are surprises in each home. Most homes have over 4,000 square feet of living spaces with between 3 and 6 bedrooms and 3.5-4.5 bathrooms.

The waterfront homes in Pierpointe have truly stunning views of the lake. Homes take full advantage of the views with terraces, sunrooms, decks, boat houses with lifts, floating docks and lakeside seating areas. Some homes even have pools that overlook the water. All have outdoor living spaces and lush landscaping making a true retreat. The lots are large, most are at least half of an acre with many over an acre, providing privacy.

These homes don’t come on the market very often, in fact in the past year only two homes came up for sale. Prices range from the $700,000’s to over $1 million.

Children in Pierpointe currently attend Winget Park Elementary School, Southwest Middle School, and Olympic High School. Please verify school assignments as they can change from one school year to the next.

The Best Views: 7032 Brookview Drive

If you are looking for the best views on Lake Wylie in a newly remodeled space, you have to see 7032 Brookview Drive. This home has it all, amazing space upstairs, additional bedrooms and living space downstairs, a deck with million dollar views, covered patio, boathouse and more all in a great walkable location.

The home was originally built in 1977, but just underwent a major renovation. This includes a new three car garage, large enough to store cars, boats, and more. As you enter the property, the house is partially hidden behind a rise. As you approach you will see the new garage and paver patio and retaining wall.

As you enter the home, you will be amazed by the open floor plan and view all the way through and out the huge sunroom. This spacious feeling continues as you walk through the well appointed chef’s kitchen. There is a full dining room, or you can eat al fresco on the deck overlooking the water. The main floor also contains the master bedroom and bathroom as well as a half-bath.

Walk downstairs and you will find an additional living room, two bedrooms and another full bathroom. All of the bathrooms have been fully remodeled. With 3,220 square feet of living space and 3 bedrooms and 2.5 bathrooms, this homes is a great value at the current list price of $899,000.

You can access the lake from the walk-out basement or from the upstairs deck. You can walk all the way down to the covered dock with boat lift. With just under an acre, you will have plenty of room to enjoy everything the lake has to offer and have room for all of your guests.

Children in the neighborhood currently attend Oakridge Elementary School, Oakridge Middle School, and Clover High School. Please verify school assignments as they can change from one school year to the next and boundaries can sometimes cut through neighborhoods.

The location of this home really has few rivals. Lake Wylie YMCA and T-Bones on the Lake are within walking distance as are many other local businesses. York Road (highway 49) is just down the road making it easy to connect with I-77 and I-485. Rivergate is just down the road for additional shopping needs. Carowinds Amusement Park, Charlotte Douglas International Airport, and Uptown Charlotte are just short trips away. Closer to home you’ll find McDowell Nature Preserve and Daniel Stowe Botanical Gardens. Don’t miss your chance to own this stunning home.