Spectacular Custom Homes in Skyecroft in Union County

What do you get when you combine one of south Charlotte's premier close-in Union County community's, a builder with multi-generations of building experience, homes with generous 4 and 5 bedrooms, 4 and 5 baths respectively, one with a basement, both with home theaters and large bonus rooms for games, large gourmet kitchens, both set on great lots with great views... These two homes by Holevas and Holton are homes built for living-these guys know how to build homes. If you 've never visited Skyecroft, before going any further, take a peak at my Skyecroft photo gallery. Just a 5 minute drive to well-regarded Weddington Elementary, Weddington Middle and Weddington High School, about 10 (non-rush hour minutes) to Rt 485 - now with the widening of Providence Road, all in low tax Union... this is what makes Skyecroft a blue chip, a "no-brainer" in this price range. Lets look at the two houses. In a neighborhood of beautiful homes, this one stands out, many think it's the most beautiful home in Skycroft. This 6100 +sf home sits on .82 acres with wooded back overlooking community waterfalls--it is 4 br 4 bath, with an optional 5th br, has a large raised patio and a terrific kitchen-eat-in-keeping room, and a great room, seemingly seamlessly tied togeher. ... Plus- A genuine theater room, sound proofed, 6 lounge/theater seats, a 110" screen with an In Focus projector, a 7.1 Harmon Kardon surround-DVD, Athena speakers... and more. Asking $1,599,000, I'd try $1,450,000 The pictures are thumbnails Located in the city of Waxhaw, but in the middle of Weddington, Skyecroft is a neighborhood in a wonderful wooded setting, with water features, walking trails, and a clubhouse that needs to be seen to believed...Skyecroft Amenities "in the country" but Not. It is 5 minutes to the schools, 5 minutes to grocery/convenience, 10 minutes to the Siskey YMCA, 15 minutes to old Matthews and summer movies in the Park. The second home by Holevas and Holton is larger-at 8900 sf, has a 5 br, and 5 bath, has a full finished walkout basement, a theater room, a card playing area, a downstair "pool bath" and entrance, a covered patio, a nicely equipped basement kitchen with room for 6 bar stools, a theater of its own including scree and 6 chairs, an exercise room and a room for a wine cellar as well. And that's just the basement! Add to it a gourmet kitchen, a large master suite and bath- upstairs TV room and large closets finish out this highly custom home. Offerred at 1.799M, I'd try $1.65 as "Buy it Now" offer. Here are a few more pictures  These are two very special

homes in a very special community.. I challenge you- just drive 12 Mile Creek, turn in, drive through Skye Locks and Sky Knoll- then walk through it...stay a while on a cool morning or afternoon. .. see what you think...

Moving to Waxhaw? Interested in a custom luxury home? Call me, Terry, at 704-351-1519, about these or any other homes in Waxhaw, Weddington, Charlotte or Lake Norman.

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If you are looking for a “blue chip”,  the Club at Longview is your best choice in Charlotte.

Jack Nicklaus Golf Course, cosistently a top 20 selection… a 28,000 square foot clubhouse, perfect for dining- meetings, or parites… Or the location, just 30 minutes to the Charlotte Airport, 35 minutes to Uptown, ut in low tax Union county, the fastest growing county in North Carolina.

Maybe it is the finest custom homebuilders in Charlotte build here. Or its European theme…Check out the slide show below and see for yourself.

Of all the homes for sale, the median home price is $2.49M, has about 7000 sf, and is on the 6th fairway. There are new inventory homes available, re-sales, and “buy a lot and build” opportunities. The best deals are in Inventory.

About the club: Jack Nicklaus 18 holes golf, no greens fees or court fees, may use your own cart or rent one, no food minimum, and no tee times are required. The English manor club is perfect for entertaining, business meetings, or just hanging out. Across the street is the Activity Center, with two pools, and a major workout area, plus a room for aerobics, Zoomba for adults, and a 2nd story for kids nights, games ,crafts and movie nights. More than 300 kids are members, and movie night fills up fast.

Social Memberships from $15,000. Full golf from $75,000, fully refundable if you move. That’s right fully refundable.

There is a section by John Wieland, a well regarded semi-custom builder in the southeast ranging from $750K to 1.2M.

Homes For Sale- the Club at Longview

There are 8 homes for sale for under $1,000,000, but more than $750,000
There are 4 homes for sale for under $1,500,000, but more than $1M.
There are 5 homes for sale for under $2,000,000, but more than $1.5M
There are 11 homes for sale for under $3,000,000, but more than $2,000,000
There are 4 homes for sale for OVER $3,000,000.
Yes that adds up to 32 homes for sale— sounds like a lot, but really, not so much, with a one-year build time and 23 MLS sales in the past 18 months. Also-there are at least the 5 price point-customers shown above— in other words, each market has a good selection, but not an enormous selection, if that makes sense.

Village homes- built smaller and on smaller lots, elegant custom from $1.2-1.8. Custom Estate Home prices start from 1.5M and range to over $3M and there isn’t an established top end. There is one home that is in the $8-10M range- it is under contract and construction; in the last year, 2 homes have sold over $3M, and 5 over 2M.

Blue chip- indeed it is! If you are looking for that special place, a great course in aperfect suburan setting, full time living, part time winter place, or semi-retirement, and love golf, this could be your next home…

Sales are solid here, but there are deals here, and I know the who, the what and the how much.

Moving To Charlotte? Considering a Move? You may Search All Charlotte homes here. Or call me direct at 704-351-1519.

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1+ Acre lots, wooded, miles of riding trails throughout the Palisades, this is the lifestyle that brings all types of families to the Palisades.;

The Ranch is a luxury enclave of custom homes in the Palisades, designed around an equestrian eventing center.

 I wrote the reservations for the first two lots sales in the Ranch last month, prices unknown. But they are very nice lots indeed, they are at the end of Castle Pines-see them here Ranch site map. It is also the site of Homearama 2008 in October, Anderson Custom Homearama house on left... The Palisades is a resort style 1500 acre community at Lake Wylie, just 16 miles to Uptown Charlotte. 16 MILES! Lake Wylie has about 1300 acres of water, and over 300 miles of shoreline. Enjoy the Slide Show.

The Palisades at Lake Wylie has the following amenities:An 18 hole Nickalus designed golf course and clubhouse, rolling hills, high level of difficulty Tim Wilkinson Sports Complex- 5 tennis courts, 1 lighted court, one grass court, a resort style pool, indoor gym and workout rooms. Home of the Jim Courier- Outback over 26 Championship Series each Summer, Pete Sampras, John McEnroe and other well know pro's have played here. Tennis is year round. Soccer- 7 Fields, home of Charlotte United Futbol Club- Charlotte's largest club, 2nd largest in NC. This developing facility is already full of kids on most Saturday mornings, and is home to 3 major east coast tournaments.  The Palisades Boat Club - 1 Boat per 8 members, 4 boats now, docked just 2 miles from the Palisades Sales center. 27' Cabin Cruiser, a deck boat, ski boat and fishing boat- for one fee, just make a call and reservation, and the boat of your choice will be ready. The first of its kind in Charlotte, affiliated with a Myrtle Beach Boat Club, it offers the benefits of boat ownership WITHOUT the headaches, maintenance worries, responsibilities, there is a flat monthly fee plus gas. Overnight use is available. Miles of Trails- a paved bike trail follows Grand Palisades Parkway, plus another 5 miles of wooded mulched trails connect the community. Schools- an on site, private school, The Episcopal Day School began operations this year. The developer has deeded land to the county for a new elementary and high school. All eyes are on the schools! Car pools exist to other Charlotte private schools.

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The Charlotte custom home market is strong-  luxury appreciates nicely!

Most everyone knows that averages can hide quite a difference in real numbers. For example, I know, from MLS homes sold data,  that the average home over $800,000 in Charlotte appreciated 12% in the last 5 years... but of course that means if 12% was an average, some went up more, and some less. That's the comparison below.

This chart is a comparisons of home values over 800K, values are based on SOLD Average Cost Per Square foot, where 2003 is the base year for each category, thus all numbers to the right express appreciation or depreciation relative to 2003, so Upper Lake Norman, after a couple of down years-'04 and '05, had appreciated 5%-- and this was almost 6% below the 5 year area wide average of 1.12, or it was half the city wide average increase of 12%. The numbers in 2007 indicate a 5 year appreciation rate for that neighborhood, with Upper Lake Norman the smallest and Foxcroft the largest.

Homes priced  greater than $800,000, a 5 year comparative history, region definitions are the authors

*Close In Union County- Areas 10/1 to 10/4, Weddington, Marvin, Waxhaw, Wesley Chapel and Indian Trail

** Lower Lake Norman- The towns of Huntersville , Davidson, and Cornelius

*** Upper Lake Norman- Mooresville

Uptown, the vast majority of sales are condos well under 800K, Prior to 2005 the sample size became too small

The Southpark area - Foxcroft, has seen the highest 5 year rate of growth, and the highest in the last 2 years as well, finishing 2007 at $345/sf. The other blue chips, Charlotte 28277 and Myers Park, with 20 and 24%  5 year increases also showed strength in the last 2 years.  Of course... this chart is an accurate description of where the market has been, but where is it going? Which market will show the highest increase in the next two years?

All data is derived from the Carolina MLS, but is not supplied by them.  Clients get actual data, and comparative analysis between communities or homes is one of the reasons people choose us to help them buy their Charlotte custom home, from Weddington to Lake Norman. 

Moving To Charlotte? Considering a move? Here are some resources to help, or call me direct at 704-351-1519 Terry McDonald

Search the Charlotte MLS

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Charlotte Communities- school info, taxes and more relocation information

Homes Over $1,000,000- A Comprehensive Report

Home prices, on homes over $1Million fell 1.8% in the 12 months ending 3/20/08, over the same period a year earlier, while units sold dropped 6.8%-- compared with the 9 county area as a whole, in all price ranges, prices rose 2.3 % on 13% fewer sales.

Just shows- even in one city, there is more than one real estate market. At the very least , you can compare unit sales and appreciation/depreciation numbers across different home value ranges- what I'm doing in this post, but you could also divide it by geography, which I'll introduce in the next post-- and do a little here too.

First, basing all Sold stats on the average cost per square foot of sold homes, you'll see the Over 1 Million category fared quite well last year-- pockets of falling prices, but the blue chip remained blue chip, with south Charlotte and the Lake property leading the way. Lets look at the numbers:

Its hard not to be startled by the enormous number of Homes for Sale, based on the last 12 months sales history. What do the numbers tell us?

1. if you are a seller, if you don't have to sell, take your home off the market. It's better not to be invited to this party.

2. Why so many folks selling? Loan rates MUST be adjusting up. Lets look at a 3.5% interest only loan, that would adjust to say 5.5%... on 1.5M loan, if both had been 100% financed, the payment would have jumped from $4,375 per month to $6,875/month, a 57% increase! Yes I know, the actual numbers are in some cases worse, because they didn't finance a 100% interest only first, but were actually more like 80-10-10 with a higher rate overall, and now, higher still.

Why am I concluding it must be adjusting interest rates causing this sell off? Lets look at another set of numbers and see if we can find a clue here. It may be in the anwser to the question locals often had asked me over  the last several years, "Where are all these people getting the money to buy these great big homes?" 

Because of the massive, 260% increase in home sales in the past 5 years on homes over $1M, is more, much more that can be accounted for by increased housing demand alone. or increases in area incomes, though the number of jobs created and income in the area did rise significantly, but I'm betting not this much... 

3. Sellers, who don't have to sell TAKE YOUR HOME OFF THE MARKET. I know that was #1...  "But Terry, I'm losing $2,000, or $3000 per month with my increased mortgage costs."  I understand, cash out of something, go borrow some money! It will be less than you lose if you put your home on the market in these conditions, and get into negotiations. You could take that 3K loss for 2 years, ride the storm out and be down 72,000 deductible dollars. Or you could put your home on the market, and take a 100-200K price cut to sell it. It is your choice. Every buyer I have today--EVERY buyer is looking for a big deal, a great deal...  So, if you've got to go, take the dollars off up front and get it sold. You may need to consider a shorts sale.

It was good to see our overall prices hold steady or increase last year... it is hard to see that in 2008, as prices seem destined to fall significantly, if only to draw more buyers into the market. Sales are running 11% behind last years pace already.  Blue chip areas like Myers Park, Foxcroft and Moorcroft will fare better than the others, but none will escape without  some red ink.

Buyers, if this sounds like a Buyers Market, I think the Over $1M category is the definition of a "Buyers Market." There are deals to be had... every home sold this year has a story. But- overall absorption raates are much better, with 20,000 homes for sale, and 32,000 homes sold in the last year in the 9 county area covered by the MLS. More detailed studies of appreciaiton, absorption and price trends are available to clients.

Sellers, if you need to sell,  lets get it on the market, and off, before the worst sets in this summer/fall... call me direct at 704-351-1519.

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