Lake Wylie Communities

Neighborhood Spotlight: Adams Bluff

November 18, 2021 by lkw_df Leave a Comment

If you are looking for a sweet craftsman or bungalow style home in Belmont, North Carolina, look no further than Adams Bluff. Homes here are priced just right for a starter home or for downsizing. These vintage homes have unique charm and character and are located close to everything you need.

Adams Bluff is located on the east side of Belmont and is close to shopping, dining, and community events. There is plenty of green space close by with Kevin Loftin Riverfront Park, Ebb Gantt Park, and Crescent Park all within walking distance.

Homes in Adams Bluff were built between 1905 and 2001, though many have been remodeled since they were built. Most of the newer homes mimic the style of the older homes in keeping with the character of the neighborhood. Homes have between 2 and 3 bedrooms and 2 to 2.5 bathrooms. Square footage ranges between 1,000 and 1,500 with easy to maintain lots with mature trees and landscaping.

In the past year, just 6 homes sold in Adams Bluff and all were under contract in a week or less. There is a lot of competition at this price point and most homes sold for over list price, some as much as 109% of list price. The average sales price was just over $250,000.

There are currently two homes for sale in Adams Bluff and both of them went under contract less than 2 days after they were listed. This means you have to be ready to act as soon as one of these homes comes on the market. We can help you have everything lined up so you are ready to make a competitive offer on a new listing.

For more information on buying or selling a home in Adams Bluff or any other neighborhood in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Lake Wylie Neighborhood Spotlight: Southern Trace

November 18, 2021 by lkw_df Leave a Comment

Just down the road from Palisades Country Club off of Youngblood Road, you’ll find a charming neighborhood called Southern Trace. Located in the rapidly growing Steele Creek region on the North Carolina side of Lake Wylie, Southern Trace is in the perfect location for a quick Uptown commute and a weekend at the lake.

Southern Trace is filled with newer construction homes with all of the bells and whistles. They were built between 2014 and 2018, so they look brand new. These grand homes have between 2,700 and 4,500 square feet with 4 or 5 bedrooms and 2.5 to 5.5 bathrooms. Two or three car garages are standard on each home, and most have outdoor living spaces including pergolas, fire pits, water features and more. Homes have chef’s kitchens, butler’s pantries, home offices, flex spaces, and much more.

In the past year, 17 homes in Southern Trace changed ownership. Most of them went under contract in just one day showing just how desirable these homes are. They sold for between $365,500 and $540,000 with an average sale price of $448,731. There are currently two homes for sale in the neighborhood and they are both already under contract. One got a contract in two day and the other in four days showing that the neighborhood is still highly sought after.

If you want a home in Southern Trace, you have to be able to act quickly when a home comes on the market. We can help you prepare so you are ready to act as soon as a new listing hits. For more information on buying or selling a home in Southern Trace or any other neighborhood in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Brookfield

November 9, 2021 by lkw_df Leave a Comment

In the last few years, home builder Lennar Homes has constructed an amazing boutique community a few minutes from Lake Wylie called Brookfield. This amazing spot has a small town feel, but is close to every convenience you need, and zoned for coveted Clover schools.

Brookfield is located off of Bethel Street (Highway 55) near the intersection with Highway 557 on the east side of Clover, South Carolina. Lake Wylie is a few minutes to the east, and Gastonia is just 10 minutes to the North. Residents are also near the quaint town of Clover. This charming town has just over 5,000 residents and is rich in Scots-Irish history.

There are 80 homes in Brookfield , and all were built between 2019 and 2021. They are energy efficient with modern home designs ranging from 2,490 to 4,041 square feet. They have 4 to 6 bedrooms and 2.5 to 4.5 bathrooms. You have your choice of ranch plans or two-story plans, many with a master suite on the first floor. All homes have two car garages, cute front porches, and are fully wired for the internet. Lennar Homes prides itself on the “everything is included” package so all homes have all options Lennar offers.

In the past year, 24 homes sold in Brookfield, but we don’t expect that to be a typical sales figure since it was the closeout year for construction. They sold for an average price of just over $340,000. That puts the average price per square foot between $130 and $137. There are currently no homes on the market in Brookfield showing that once people get into one of these great homes, they are reluctant to leave.

If you would like to learn more about Brookfield, call us at 803-831-8588. We can help make sure you are ready to make an offer the moment one of these spectacular homes comes on the market. You can view current listings and create custom searches on our website here.

June Market Report – Greater Lake Wylie Area

July 16, 2021 by lkw_df Leave a Comment

The big story this month in the real estate market is that new listings are up again this month. We still don’t have enough homes on the market to keep up with current demand however as the supply of homes is just under 3,500 homes, a 0.7 month supply. These homes are selling for over list price with the average home selling for 102% of list price. On a $400,000 home, about the average sale price in June, that is $8,000 over list price.

When you look at the numbers for Lake Wylie, you see that new listings are up 48.5% from last June. There are now 121 homes for sale representing a 0.8 month supply. Homes are selling quickly with the average home spending 15 days on the market before it is under contract.

This is 75% faster than last year at this time. This means that buyers and sellers have to be ready for a quick moving transaction.

The average time it takes to go from listing a home to the closing table was down on average to just 82 days. This is down 30% from last June. New construction homes typically skew the number higher as they can be listed while they are still in process of being built, but all cash offers can lower this number as they can close in as little time as a week.

Homes are selling for more money, with the average sale price coming in at just under $520,000. This is up 23.1% from last June.

Buyers are paying on average 102.3% of list price for homes right now. For a $520,000 home, that’s a $11,960 premium.

There seems to be no end to the seller’s market that has persisted for years. This means that sellers have the upper hand in negotiations and will until the supply is higher than the demand. With many people still relocating to the area, it seems that the trend could continue for some time to come.

All of these numbers come from the monthly report from the Canopy Realtor Association. Their monthly report uses numbers from the Canopy Multiple Listing Service. For the Charlotte Region, they use data from 12 counties in North Carolina and 4 counties in South Carolina.

For more information on the Lake Wylie area, especially buying and selling homes, neighborhood information, and much more, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

What is an “All Cash Offer”?

July 5, 2021 by lkw_df Leave a Comment

With the market going the way it has been, you keep hearing about homes selling the day they list with an all cash offer for above list price. The trend has been all cash offers winning bidding wars on listings with multiple offer situations. But, what is an all cash offer anyway? Does it mean lugging a suitcase full of bills to closing? Nope. It just means that the buyer can purchase the home without having to arrange a mortgage.

All cash offers are on the rise, with an increase from 15% to 25% of all home purchases over the last year. They are attractive to sellers because they don’t have to worry about a deal falling apart because the buyer can’t secure their funding. They can also get you to the closing table more quickly because you don’t have to wait for a loan package to be put together.

For buyers, they are attractive because they make a stronger offer. This can be especially helpful for buyers who really love a property and want to make sure that they win a bidding war.

Does that mean that all buyers who have all cash offers have to provide all of the cash at closing? Nope, a lot of those buyers will end up mortgaging the property, or mortgaging other assets to pay for the property. There have been a lot of people who have had windfall events like an inheritance, cryptocurrency sale, or other event leaving them with cash as a powerful bargaining chip.

What an all cash offer typically means is that a home contract can have fewer contingencies. Without a mortgage company involved there is no mortgage contingency. An appraisal may not be needed either though it is required for lender financing.

All is not lost if you can’t make an all cash offer. You can still make an attractive offer with tools such as personalized letters, removing contingencies, or offering above list price. Another strong tool right now is leasing the property back to the seller so they have a few months to find their next home.

For more information on buying or selling a home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Featured Listing: 15016 High Bluff Court

June 18, 2021 by lkw_df Leave a Comment

If you have always wanted the perfect home in Regency at Palisades, bring your offers. This amazing home at 15016 High Bluff Court was just listed and won’t last long.

This home is located in the award winning community of Regency at Palisades. This highly desirable neighborhood features amazing amenities including a clubhouse, fitness center, game court, golf, outdoor pool, playground, sports court, tennis courts, and walking trails. It is also right next to Lake Wylie for water sports of all types.

This stunning ranch home offers features rarely found in the neighborhood and shows just like new. There is a private backyard, and upgraded side load garage. Inside the garage is a workshop space but there is still room to park two cars. The full brick exterior has clean architectural details and features mature landscaping.

Interior features include a recently upgraded gourmet kitchen with cast iron farmhouse sink, new quartz counters, Jenn Air gas cooktop, walk-in pantry, and soft close cabinets. The open floor plan allows sightlines from the kitchen to the great room and breakfast room. The generous master suite was extended so it is now a true master retreat with a walk-in-closet and master bath with a generous tub and separate shower.

Two other bedrooms, one and a half other bathrooms, laundry room, dining room, and a home office round out the 2,344 square feet. There is great attention to detail with extensive millwork including trey ceilings, wainscotting, and crown molding. Out back you’ll find a partially covered deck perfect for entertaining. You don’t want to miss out on this home, it will go quickly.

For more information about this home, see the full listing here. To learn more about this or any other neighborhood in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Somerset at Autumn Cove

June 4, 2021 by lkw_df Leave a Comment

On the shores of Lake Wylie, you’ll find a fantastic neighborhood with great amenities, close to all of the conveniences you need. Somerset at Autumn Cove is a highly desirable community right off of Highway 49 in the heart of Lake Wylie.

Residents of Somerset at Autumn Cove enjoy lake access, pool, cabana, and boat storage. They are close to schools, the YMCA, and many options for shopping and dining.

Somerset at Autumn Cove was developed by Eastwood Homes between 2008 and 2017. These homes sit on large lots with some approaching an acre in size. Interior lots are wooded and offer great private spaces. Homes with lake frontage typically have docks, floating docks, piers, and outdoor living spaces perfect for taking advantage of sweeping views of Lake Wylie.

Many of the homes have full basements giving a range of between 1,800 to almost 4,000 square feet of living space. There are one, two, and three story plans in the neighborhood with 3-6 bedrooms, 2-5 bathrooms, and 2 or 3 car garages. These homes have open and flexible floor plans with guest suites, media rooms, home offices, and chef’s kitchens. Owner’s suites feature spa-like bathrooms, amazing attention to detail, and relaxation galore.

In the last year, 12 homes sold in Somerset at Autumn Cove for an average sale price of just under $400,000. Most of these homes sold in less than a week for list price or above. There are currently four homes on the market with three of them already under contract. One additional home is coming soon so there is still a chance of getting in on this amazing community.

For more information on buying or selling a home in Somerset at Autumn Cove or any other neighborhood in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Stowe Point

June 2, 2021 by lkw_df Leave a Comment

Picture a serene enclave of homes with great amenities, Belmont schools, close to Lake Wylie and you have Stowe Point. This great North Carolina neighborhood has all of that and more. It is a desirable place with homes selling quickly and home prices appreciating.

Stowe Point is in an ideal location surrounded by large forested tracts of land. This gives a feeling of seclusion even though you are just a half mile from a Harris Teeter grocery store, Starbucks, and Chick Fil-A restaurant.

The neighborhood was originally developed by Lennar Homes and was completed in 2015. Homes show like brand new and include desirable features like open floor plans, and large kitchens with islands. Homes typically have 4-6 bedrooms and 3-4.5 bathrooms. Most homes have around 3,000 square feet of heated living space and at least 2 car garages. Neighborhood amenities include a pool, playground and walking trails.

In the past year, 14 homes sold in Stowe Point with an average sale price of $340,000. Most of the homes sold after being on the market for less than a month and in a lot of cases in less than a week. This reinforces that Stowe Point is a great desirable neighborhood. There are currently 4 homes on the Market in Stowe Point with another 2 coming soon. Three of the homes are already under contract. The average list price of these homes is just over $400,000.

For more information on buying or selling a home in Stowe Point or any other neighborhood in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.