Return on Investment High Near Lake Wylie

This week the Charlotte Business Journal published their rankings for the zip codes that had the best return on investment over a 10 year period. They used data compiled by Zillow Group ranging from the middle of the recession 10 years ago until this August. The methodology took the median home price from ten years ago assuming a 10% down payment. They compared to the same figures for this year to determine the change.

Sometimes it’s hard to think of your home as an investment, but you never want to think that it’s not a good one. Luckily homes around Lake Wylie fared well in the reporting. They only looked at North Carolina, so we don’t have the figures yet for the South Carolina side of the lake. Here are the zip codes nearest the lake that ranked in the report:

28012 – Belmont in Gaston County came in at number 19, with a median home value of $211,700. The area encompasses the city of Belmont all the way south to Daniel Stowe Botanical Gardens, and the North part of Lake Wylie. This is an increase of 50% or $70,500. This puts the 10 year return-on-investment of 399%.

28214 – This zip code is in west Charlotte, north of the airport and includes the US National Whitewater Center. It came in at number 11. The median home value was $184,300, an increase of 56% or $66,500. This puts the 10 year return-on-investment at 465%.

28273 – This is another west Charlotte zip code that came in at #18. This area is Steele Creek on the eastside of Lake Wylie. The median home value of homes here was $216,300. There was an increase of 51% or $72,600. This translates to a 10 year return-on-investment of 405%.

If you would like to have us help you figure out the return-on-investment for your home, call us at 803-831-8588. We can help with the entire process of buying or selling a home. Be sure to check out our website here for all current listings.

To see the full Business Journal Article click 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.

YMCA Possibly Coming to Steele Creek

Paperwork has been filed for a new YMCA in Steele Creek. This location is the perfect place for families in Lake Wylie to hit on their way home from an Uptown commute. It will be easy to get kids there for weekend sports games, or swimming lessons. The YMCA is definitely a place to bring the community together.

The new YMCA proposal would be located on Sledge Road and Steele Creek Road. The current proposal would have up to 15,000 square feet of indoor recreation as well as plenty of space for outdoor recreation as well. This would most likely include many types of sports fields and pools.

Homebuilder Pulte Group filed a petition for rezoning of the land for the intended use in August. The entire parcel has 272 acres and would have up to 697 single family homes with 120 age-restricted units for 55+ residents.

Of course, all of this development depends on the approval from city council, but the area is booming with growth. This would be the first YMCA for the Charlotte area since the construction of Sara’s YMCA three years ago. Steele Creek is great because it is close to the lake as well as close to the city. It is a nice in-between point that is fully coming into its own as a destination.

This YMCA would join the other 25 locations in the Greater Charlotte Area. The new location would have the expected features of other locations including childcare, classes, independent workouts, camps, bootcamps, swimming, education, accessibility, day camps and more.

If you are looking to buy or sell a home in the Lake Wylie area, call us at 803-831-8588. To view current listings and create custom searches, visit our website here.

Explore Forest Oaks

If you’re looking for a great family friendly neighborhood near Lake Wylie, South Carolina, look no further than Forest Oaks. This great spot is adjacent to River Hills Country Club and just steps away from the shore. Right down the road is the Buster Boyd Bridge with many shopping and dining options, some even within walking distance. About 5 minutes down the road is public boat access so you can take advantage of the full Lake lifestyle. This location is also perfect for anyone with an Uptown Charlotte commute.

Homes in Forest Oaks were built between 1989 and 2009, with most of the homes built in the early 2000’s. Homes range in size from 1,100 to 2,300 square feet. That makes them the perfect starter size for a small family or for downsizing from a larger home. Homes have 3 to 4 bedrooms and 2 to 3 bathrooms. Yards are small and easy to care for, and exteriors are low maintenance.

In the past year, 22 homes sold in Forest Oaks. This is a great neighborhood to watch closely as there are currently six homes on the market. Prices typically range from $155,000 to $231,000 so these homes are much less expensive than many other areas of Lake Wylie. There is currently a 3.4 month supply of inventory which is compared to a 6.4 month supply in the whole of Lake Wylie. This means that Forest Oaks is currently in a seller’s market.

If you would like a private tour of homes in Forest Oaks, call us at 803-831-8588. You can view current listings on our website here and also create custom searches to help find your perfect next home.

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/

Steele Creek and Lake Wylie Housing Market Report 2017-2018

The Steele Creek Real Estate market continues to be one of the top markets in the Country and is estimated to be one of the top 5 in the entire Country by the end of 2018.

On the National scene existing Home sales will finish at a pace not seen since the bubble bursting run up to 2006 clocking in at about 5.5 Million but amazingly still approximately 1.1 Million less than that all time high.

According to forecasts by the National Association of Realtors the steadily improving US economy, sustained job growth and rising confidence that now is the time to buy a Home should pave the way for an increase in Homes sales in 2018.

Back to Steele Creek, the availability of land, proximity to Charlotte’s 485 outer loop, Downtown and the Airport along with a widely diverse Housing Market are driving increases in prices and sales. A new master planned Development is in the final planning stages for the large mainly undeveloped area west and south of the Airport which will include the proposed River District slated to be larger than the Ballantyne area in South Charlotte. The area is expected to increase in population by 20-25% over the next 5 years.

Sales of new and existing Homes in the Steele Creek area over the past 12 Months for the zip codes of 28278 and 28273 were at a staggering pace of close to 2000 sold, leading the way the Community of Berewick with sales up 33% to 356, the Palisades with 131 sales was a distant second.

Another large Master planned Community is rising in Gaston County near Lake Wylie and Belmont called McLean, while just getting started sales were up to 40 in 2017.

Over on the South Carolina side of the Lake new Developments are popping up like spring flowers, national production Home Builders like Mattamy Homes and DR Horton along with local Builders, Fielding and Bonterra Homes are building a potpourri of styles and myriad of prices. New Home sales in the Lake Wylie SC area have increased from 75 in 2014 to around 200 per year at the end of 2017.

Sales of existing Homes in the Clover-Lake Wylie-York area zip codes of 29710 and 29745 although not quite as strong as its counterpart Steele Creek were close to 1300 over the past year. The top seller in that area is the well-seasoned “Jewell” of them all, the magnificently well planned Community of River Hills with close to 80 closings and an average sales price up 15% to $354,000.

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 57 active listings in both Carolinas down from the 120-140 we experienced for a few years with only 6 priced below $500,000. The 1 Million plus market was very active with 16- 1 Million Dollar plus Homes closed in 2017 and currently 12 were on the market. A total of 169 waterfront Homes sold down slightly from the year before with a median price pushing close to $700.000 up from the low $600,000’s that were steady for some time.

As urbanized Charlotte continues to gobble up large tracks of land for high density development the demand from those looking for the serenity and peace of Lake living along the shores of Lake Wylie will find it more and more difficult to afford.