lake wylie real estate

Neighborhood Spotlight: The Yachtsman Lake Wylie

June 9, 2022 by lkw_df Leave a Comment

If you want the lake life, but without all of the maintenance that comes with owning a home, a condominium might be just the right fit for you. There are many to choose from in the Lake Wylie area, and one of our top picks is The Yachtsman.

This amazing community is right on the waterfront and features a main channel view perfect for watching nature and people watching. Many of the homes have private balconies overlooking some of the most expensive real estate on Lake Wylie.

Some of the units in The Yachtsman are condo units, and some at townhome units. This gives a wide variety of floorplans to choose from. They have 2-3 bedrooms and 2-3.5 bathrooms in 1,100 to 2,000 square feet of living space. Many of the units have been tastefully remodeled since they were built in the late 1980’s – late 1990’s.

The amenities at The Yachtsman include a community boat dock (with slip fees charged separately), a private beach, outdoor pool, and tennis courts. The community is gated with parking for residents and guests inside the gates.

The Yachtsman is located off of Pine Harbor Road near the intersection with Shopton Road. This gives residents quick access to groceries, shopping, dining, and much more. There is nearby highway access to connect with Uptown Charlotte, Charlotte Douglas International Airport, and much, much more.

In the past year, 15 homes in The Yachtsman changed owners. They all sold in the $265,000-$393,000 range. There are currently two homes for sale in the community with two of them already under contract.

If you want to know more about The Yachtsman or any other home in the Lake Wylie area, call us at 803-831-8588. We are not the only ones that know The Yachtsman is the place to be so you need to act fast when a unit is offered for sale. You can view current listings and create custom searches on our website here.

Featured Listing: 2536 Scrub Pine Drive

May 3, 2022 by lkw_df Leave a Comment

If you have been dreaming about owning your own compound near Lake Wylie, you may not have missed your chance. We are currently taking back-up offers on 2536 Scrub Pine Drive. It was under contract in just three days, but if this contract falls through, it could be your lucky day.

This home sits on a 2.47 acre lot perfect for anything you can imagine. There is the existing home in addition to two concrete pads ready for the outbuildings of your choice. The lot is wide open, however there are separate areas perfect for a dog run, chicken coop, or horse stables. The extensive property has a few sites perfect for gardening or outdoor living spaces.

Scrub Pine Drive is located within the Allison Creek Estates neighborhood just off Highway 49 in York, South Carolina. The property is close to Clover, Lake Wylie, York, and Rock Hill. Nearby highway access will connect with Charlotte Douglas International Airport, as well as Uptown Charlotte. The home is zoned for award winning Clover Schools, and is close to restaurants, grocery stores, and shopping.

The home has 3 bedrooms and 2 full bathrooms in 1,583 square feet of living space. There is a split floor plan and the home is equipped with a new refrigerator, washer, and dryer. The carport in the rear can be purchased separately, but if not purchased, does not convey. The recently updated deck is perfect for enjoying the outdoors. This AS IS property could be perfect for you.

If you want to know more about this home or want to schedule a showing on a home in the Lake Wylie area, call us at 803-831-8588. We can help you with anything you need to buy or sell a home. You can view current listings and create custom searches on our website here.

February Market Report – Greater Lake Wylie Area

March 29, 2022 by lkw_df Leave a Comment

Once again, inventory is low, prices are on the rise, and homes are selling quickly. These monthly numbers have been published by the Canopy Realtor Association based on data from the Canopy Multiple Listing Service. They confirm the trend that has persisted in the market for the last few years and there seems to be no relief in sight at this time.

In the Charlotte Region, which includes 12 counties in North Carolina and 4 counties in South Carolina, there is just a half-month supply of homes. This means that if no more homes were listed, the supply of homes for sale would last about 2 weeks. A balanced market is when there is a 6 month supply of homes on the market which we have not seen in years. These homes are selling for a median price of $360,000, up 22% from the same time last year. Homes are selling after an average of just 23 days on the market, down 28.1% from last February.

When you look at the numbers for Lake Wylie, you see the same trend playing out. There is just a 0.4 month supply of homes, only 57 homes on the market, down 57.5% from the 134 homes last February. These homes are selling for a median price of $520,000, up $123,000 from last February representing a 31% increase. They are selling in an average of 22 days which is 14 days quicker than last year at this time.

Closed sales, pending sales, and new listings are all down from the same time last year as well, 14.7%, 16.8%, and 8% respectively. This could mean that many people are holding off listing their homes until the typically robust spring market, but it can also signal that many people are holding off on purchasing a home due to inflation of prices in combination with the rise in interest rates. Lack of supply has chased some buyers from the market as well as they can become discouraged after making offers on many homes and not winning against stronger or all cash offers. March is typically the start of the spring sales boost so we will keep an eye out to see if the trend continues or if we see some relief in the chronically low inventory.

For more information about the real estate market or about 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.

Mortgage Rates On the Rise 3/22

March 24, 2022 by lkw_df Leave a Comment

Mortgage rates are on the rise and are expected to go higher still. What does that mean for you? That depends on if you are a buyer, and seller, or a homeowner wanting to refinance.

Mortgage interest rates are now averaging 4.42% (as of March 24th, 2022) for a 30-year fixed-rate mortgage. This is up from 4.16% last week and way up from the historic low around 2.75% last June.

What causes the rise? Some of this rise is due to inflation. To combat inflation, the Federal Reserve has raised a key interest rate which typically signals a rise in home mortgage interest rates. The Fed is expected to raise that key rate again at least 4 more times during this year. This means that we could see mortgage interest rates rise further as the year progresses.

As a buyer, this means that you will see higher monthly mortgage payments. Higher payments can change your debt to income ratio and could change the amount of money a bank is willing to lend to you for a home purchase. This could cause some buyers to wait to buy until rates are more favorable. It can also cause you to change your home search to a lower price range.

For a seller, this could mean that you have to wait longer with your home on the market before you find the right buyer. This can mean excess carrying costs if you have already purchased your next home. We could also see home prices start to fall after the rapid rise they have had over the last few years.

For someone refinancing their home to get a more favorable rate, it is unlikely that your new rate will be better than what you have currently. Many people refinanced when rates were still below 3%. We will still see many people refinance, as a lot of home improvement projects such as additions, and remodeling are frequently paid for with a home’s existing equity. This will just make those projects a little pricier as mortgage payments will be larger in addition to paying for any construction.

For more questions on this topic or for information about 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.

Lake Wylie New Large Projects Underway 3/2022

March 21, 2022 by lkw_df Leave a Comment

Charlotte City Council will meet tonight to discuss rezoning of many properties, but the two largest projects are both in the Lake Wylie area. It could be exciting to have new large projects in the area, but it can also cause traffic so many residents have mixed feelings about these big projects.

The first project up for a vote by the City Council is also the largest. At 184.9 acres, this Steele Creek project is expected to be approved as the Zoning Committee approved it with a vote of 7-0 in favor. The petition for rezoning was filed by Steele Creek, LLC and involves property just south of I-485 and east of Steele Creek Road. Based on the filing, developers want a mixed use development with homes, offices, retail, and greenspace.

The next project before City Council is 102 acres located north of Mount Holly Road east of the Catawba River. This rezoning petition was filed by DHIC, LLC and Reventure Park Investments North, LLC. The proposed zoning change would make the land suitable for mixed-use, and innovation. The builders plans outline townhomes, apartments, community amenities, and a community boat dock. Staff recommendation is to approve the petition as long as transportation, environmental and site and building design issues are resolved.

Both projects have to go through the zoning approval process before they can get plans approved and break ground. It could be some time before units are available for sale or rent, but we will keep our eyes on the projects.

For more information on these new construction projects or about 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.

Lake Wylie’s Derby Farm

March 3, 2022 by lkw_df Leave a Comment

March 2022. If you still haven’t found the home of your dreams, maybe a new construction home is for you. Knotts Builders are in the process of building a great new neighborhood called Derby Farm. Located on the North Carolina side of Lake Wylie, Derby Farm is next to The Palisades Country Club and is close to shopping, entertainment, and much more.

Homes in Derby Farm are all in process of being built though some of the homes are nearing completion. All homes are over 3,000 square feet with 5 bedrooms, 3 or 3.5 bathrooms, and stone, shake, and metal accents on the exteriors. Interiors feature quartz countertops, wide plank hardwood flooring, downstairs primary suites, and much more. As this is new construction, you can help with the finishing details and really make a home perfect for your family.

Though there are no amenities within this exclusive community, Palisades Country Club is an option for residents to join. The country club has tennis, golf, a pool with a swim team, and a full fitness facility. Lake Wylie is nearby with many public access points, and yacht clubs and marinas for boat storage and private access.

Only one of these amazing homes in Derby Farm has sold so far, but there are three others that are already listed for sale with two under contract. Other homes will only be offered for sale once the framing is completed. Prices start in the mid-$500,000’s and can go up from there based on options and upgrades.

For more information on buying or selling a home in Derby Farm 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: Boatshore lake Wylie/ Rock Hill SC

January 24, 2022 by lkw_df Leave a Comment

If you think you can’t afford to live on the lake, you may be surprised to find you are incorrect. The highly desirable neighborhood of Boatshore has affordable single-family homes on Lake Wylie. This great location has a Rock Hill address and feeds to Rock Hill schools but has lower South Carolina taxes. This neighborhood is definitely worth a closer look.

Boatshore is located in Rock Hill off of Mt Gallant Road near Pier 51 restaurant. The neighborhood location is convenient to highway access to connect with Uptown Charlotte and Charlotte Douglas International Airport. There is great shopping, dining, and entertainment nearby as well.

The streets in Boatshore are all named after butterfly species, and you will see many natural elements in the neighborhood and the surrounding community. There are nature preserves nearby, as well as Ebenezer Park just down the road. The park features a public boat ramp for lake access as well as other amenities.

There are 72 homes in Boatshore spread along one main street and five cul-de-sacs. It is not a through neighborhood so there is little traffic. Homes here were built in the early 2000’s and are typically between 1,100 and 1,500 square feet with 3 bedrooms and 2 bathrooms. Many of the homes have decks, patios, and porches to take advantage of the great weather.

In the past two years nine homes in Boatshore have sold for an average price of $231,933. The price range over that same time period was $195,000 – $277,500. These homes are great for singles, families, and are great for downsizing. There are currently no homes for sale in the community, but we can help you be the first to know when a home is listed here. Boatshore is definitely worth a look.

For more information on buying or selling a home in Boatshore 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.

October Market Report – Greater Lake Wylie Area

November 17, 2021 by lkw_df Leave a Comment

The monthly numbers have been published by the Canopy Realtor Association and they confirm that the market is slowing for the holiday season which is a typical trend. Inventory is still tight, maintaining the seller’s market that we have seen for the past few years. Prices are still on the rise and we are still seeing homes sell for above list price. Homes are still selling in an average of 17 days which shows that buyers are still motivated.

When you look at just the Lake Wylie area, you see that in every metric, we are doing better than last year. Home sales are happening faster and selling for more money than last year. They are selling in an average of 21 days on the market. Sellers are typically getting 101.5% of list price for an average sales price of $493,288, up 16.1% from 2020.

While this is great news for sellers, it can be disheartening for buyers. They have to bring more money to the table, and be willing to offer above list price for a home, and they can’t take any time to think over what can be the largest financial decision in their lives. And sellers typically have to turn around and become buyers so they don’t escape the tough parts of the current market.

New listings are up 11.4% in Lake Wylie when compared to last October. Pending sales were up a fraction at 0.8% gain from last October. Closed sales were down in number compared to last year, but year to date are still up 13.7%.

All of this is to say that the market is still robust, and sellers still have the upper hand in negotiations. There are not many deals to be had currently, and we are still seeing multiple offer situations. Mortgage rates are currently still hovering just above 3% for a 30-year fixed rate which is still a great deal for buyers.

If you are ready to buy or sell a home in the Lake Wylie area, call us at 803-831-8588. We can help you get into the home of your dreams. You can view current listings and create custom searches on our website here.