Question
I have read previous answers to similar questions, but not sure the fit for my situation.  Established Fescue lawn in Charlotte, NC; I water about 20 minutes 2x week; last fertilized with Scotts in mid-May; applied preventative fungicide (dry) six weeks ago and again today; no other recent applications of anything; mow weekly to 2.5 - 3 inches; direct sunlight 8-10 hours / day; and the lawn is beginning to yellow in large areas.  I think the soil is somewhat compacted in the areas it's turning.  Is iron the answer?  Other ideas?   Thank you!   BB

Answer
Dear BB,
From your description of cultural practices, you have the ideal maintenance regime.
We have had a mild drought in the Piedmont this spring, though I have noted several rain events in your area.
Compaction will cause shallow root development and more rapid decline in drought.  Further, if you applied a high dose of N in May, these conditions will accentuate burning from salts.
Lime is good, as well as iron, if soil tests recommend.
I would water for longer periods trying to apply one acre inch per week, aerate before fall overseed, and consider an application of compost in place of the fall fertilization.  Further, the spring fertilizer application should be only a light one for N, in the range of 1-1.5 lbs N per thousand sq. ft., not 4 lbs/1000.  Fall apllications work best in this region and prepare roots for spring growth rather than feeding leaves in spring which can outstrip root support in drought.
Remember, Scotts is an Ohio company.  Lawns up north grow best with spring fertilizer applications, have fewer droughts and a shorter growing season.
For compost topdressing, apply 3/8" or one cubic yard per thousand sq. ft.   Normal high quality composts have enough N, P and K, as well as many minerals and trace elements to offer full fertilization.  This practice will, in time, loosen compacted areas and replace the need for lime also, as they are pH neutral.  After the lawn and soil show good response, the application can be reduced to a level at which compost spreading is like putting confectioner's sugar on a cake, a very light topping.
Composts produced using thermophilic (high temperature) methods are shown to be anti-fungal also.  This method is used by most commercial composting companies, but not predictably by local governments.
Best of luck.
Tom