Barry, Home Buyer in Charlotte, NC

What lake communities would you recommend for LT appreciation within a 2 hour drive of Charlotte.?

Asked by Barry, Charlotte, NC Sun Aug 19, 2007

Since Lakes Norman and Wylie are out of reach for many potential purchaser's of second (vacation) homes, what lake communities would you recommend for long term appreciation and value if you are looking to stay within a two hour drive of Charlotte, NC? Please describe the relative advantages or attractiveness of any specific lake that you recommend and why it would be a better long term investment over any other lake. My interest is something that my wife and I could purchase now and retire to later in 10-12 years. My target purchase price is between $250K - $350K.

A follow-on question pertains to timing: How will general price levels for NC lake front homes be affected by the slowing real estate market? Are second homes more or less price sensitive to the overall real estate market, stock market and the general wealth effect? Would it make sense to wait another 6-12 months until after the next wave of ARMS re-set?

Thanks in advance for your time and thoughtful response.

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Answers

8
I have seen people getting good appreciation on High Rock Lake. I can recommend a really good Realtor there if want. Let me know.
1 vote Thank Flag Link Tue Sep 18, 2007
Lake Greenwood, an 11,000-acre lake situated in the foothills of South Carolina, approximately halfway between the Carolina coast and the Carolina mountains.
Centrally Located…on Lake Greenwood...you’ll be a short boat ride away from any point on the lake, or a short drive from the shopping, restaurants and championship golf and tennis of the greater Greenwood area, as well as the state-of-the-art Self Regional Healthcare Center.
Lake Greenwood SC has become a very popular area for retirees and investors in the past few years. Lake Greenwood offers great fishing, water sking, boathing, or just cruising on your pontoon down the lake. Get in while properties are still affordable, and interest rates are Great. Greenwood SC is south west of Charlotte, approximatly 2 hour drive. Please visit us soon. Thanks Joan
0 votes Thank Flag Link Tue Sep 11, 2007
High Rock Lake just outside Salisbury, NC is an excellent, lower-priced alternative to Lake Norman or Lake Wylie. Homes are much more reasonably priced and honestly, it's a quicker drive into downtown Charlotte from Salisbury than from the Lake Norman area.
0 votes Thank Flag Link Tue Sep 4, 2007
Personally, I am partial to Lake Lanier. We moved from Atlanta to Gainesville GA 23 years ago. We built on Lanier and enjoy fishing, boating and water sports mainly on the North end where it is a little quieter and unspeakable sunsets. We enjoy Atlanta to the South for shopping, dining, Braves & Falcon games but the Lanier area offers many activities from Road Atlanta, Lake Lanier Islands, and boat ramps & parks everywhere for day trips and Dahlonega and Helen for hiking, rafting and day trips to the various water falls . The location is convenient to I-85, I-985 and GA 400 for easy commutes in any direction. View my website for an idea of the homes available on and off lake or email me for more information. I'd love to share my knowledge of the area and homes available that may interest you and your family.
0 votes Thank Flag Link Tue Aug 21, 2007
High Rock and Badin Lakes are both with in an hour
0 votes Thank Flag Link Tue Aug 21, 2007
In my opinion the lake Hartwell area is your best bet. There are many new developments and golf communities in the area that are targeting retirment, empty nester's, and vacation home clients.

The location is fantastic being between Atlanta and Charlotte gives you great access to weekend retreats to the cities like sporting events, concerts, festivals, etc.

Lake Hartwell is also not as busy as many other lakes close to major metro. areas such as Norman and Lake Lanier in Georgia. If a peaceful setting is important to you.

Lake Greenville could also be another area to consider as well.
0 votes Thank Flag Link Sun Aug 19, 2007
There are a ton of lakes here around Charlotte. Lake Wateree in South Carolina, Lake Rhodiss are two that come to mind right off the bat.

The current mortgage situation is just a small blip on the radar screen and it appears that the worst is over with the fed's lowering of the emergency rate. Hopefully we'll see a reduction in the fed rate here in the next two weeks.

In my experience, the second home market is varies based on location. If you're talking a beach destination, values appreciate since there's only so much waterfront or beach available. With regards to the lakes, I'd talk to someone locally (not a community sales rep but a local agent who specialize in vacation properties to see what happening around that area.
0 votes Thank Flag Link Sun Aug 19, 2007
I think one of the best opportunities right now is the city of Troutman. It is the next city in the line following I-77 going north of Charlotte. A new exit will be built there soon, as well as a Birkdale village type complex( a major outdoor shopping/entertainment complex) and a new Lowes complex. Typically the summer is the busiest time in real estate. Since this summer was a little slow, there are a lot of homes available.As we come into the fall it turns into the slowest season. Some homeowners who need to get out for whatever reason will now be much more willing to lower their price.
0 votes Thank Flag Link Sun Aug 19, 2007
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