Saturday, December 31, 2011

Sale Caps Solid Year for Delavan Lakefronts

     Sales of Delavan Lake properties increased over 50 percent from 2010 with the most recent closing. The most recent lakefront sale was a newly remodeled 4500 square-foot two-story situated on the North Shore.   For 2011, there were 20 lakefront properties sold.  This compares to only 13 sold in 2010.
     Located at 1641 Cedar Point Drive, the property featured six bedrooms, four bath rooms, and 85 feet of prime lake frontage.  The glassed-in front porch welcomed panoramic views of the lake and the position of the house allowed for the owners to enjoy sunsets normally reserved for South Shore residents.

     Quality upgrades and building materials were found throughout the home.  Most rooms had a water view including the family room, with walk-out composite deck, and great room with natural fireplace.

     Priced at $1,299,000, the home was only on the market for a month before offers came in.  The property eventually sold for $1,215,000 which was similar to sales of other higher-end lakefronts this year.

Friday, December 30, 2011

Delavan Lake Year End Markdowns

     While not quite Black Friday, there are a number of price reductions that can be found on Delavan Lake properties now that the end of the year is here.
     One such reduction can be found at 2503 Rockford Colony.  This two-bedroom, two-bath lake home features lake views, a swim pier, large front porch and a remodeled bath.  Originally listed for $299,000, this lake getaway is now $239,000.

     Another markdown is at 4507 Highland Drive in the Viewcrest Subdivision.  This four-bedroom, two-bath home has a boat slip, deck, private back yard and spacious sun room off the walkout lower level.  Originally listed for $399,000, the home has been slashed to $299,900 for a quick sale.
     One more motivated seller is at 2126 Blue Heron Drive.  This stately home sits on 100 feet of frontage, has an open great room with access to both a deck and enclosed sun room.  Originally listed for $749,000, the lakefront has now been adjusted to only $599,000.

Thursday, December 8, 2011

Delavan Lake Foreclosure May Signal Price Bottom

     The recent listing of a Delavan Lake foreclosure may signal the bottom of price declines on Delavan Lake.  Located at 1401 South Shore Drive, the property has 100 feet of frontage, three older structures, and a swimming pool on an acre of land.  None of the structures are particularly attractive on the outside, but one of them has value beyond its first impression. 

     The main house, built in 1920, is a four-bedroom, two bath farm-house style with a large kitchen area that features a bar for entertaining and lake views.  In the living room is a "70's-cool" lava-rock fire place just waiting for black lights to be added.
     Upstairs are the four large bedrooms, three with lake views and one with a balcony off the back side.   All of the bedrooms share a single bath.
     The property has a two car detached garage with a two-bedroom apartment above.  The apartment is in rough shape without central heat and porous windows sure to invite winter drafts.
     At the lakefront is the gem of the property.  Here stands the boathouse (or "lido" as the prior owner called it) with a natural fireplace, built-in bar, half bath and spectacular views of Delavan Lake.  The entire lake, from Island to Lake Lawn, can be absorbed while cozying up to the bar enjoying a summer refreshment.

     Placed on the market for a mere $495,000, the property received numerous bids the first week and had an accepted offer within days of hitting the market.  Previously on the market for $965,500 just a year ago, the steep discount as a foreclosure generated plenty of interest and confirmed that there is definite demand for lakefront bargains.

Wednesday, November 30, 2011

Island of Delavan Lake Home Finally Sells

     After being on the market for over four years, the five-bedroom Tudor, located on the Island of Delavan Lake, has finally sold.  Boasting 215 feet of prime Delavan Lake frontage, and an acre of real estate, the parcel had one of the best views available in the area.

     Originally listed for $1,999,000 in October of 2008, the property finally succumbed to the soft market and was relinquished for a mere $730,000.  The sale represented only 47 percent of the assessed value which stood at $1,555,000 at the time of the transaction.
     In addition to the five bedroom, the home had four baths, 3,000 square feet of living area, a large lakeside patio and an attached 2.5 car garage.  But the home had fallen into disrepair over the last few years.  The roof needed replacement, siding was deteriorating, and a leak above the kitchen created an unsightly bulge to prospective buyers.
     The new owner, planning extensive remodeling, is sure to capitalize on a week real estate market.  With the planned updates, the home will most likely fetch somewhere near the assessed value once completed.

Saturday, November 12, 2011

Delavan Lake Year End Price Reductions

     As the season cools down, many Delavan Lake home owners have reduced prices to attract a sale before the snow flies.  This has been a solid year for lakefront homes and three lucky buyers have locked on to properties that are yet to close this year.

     If you are considering a purchase, this could be one of the best times to make your move.

Some examples include:

Two bedroom, one bath on a large lot in the Delmar Subdivision, including a boat launch and swim pier, for only $82,500.

Four bedroom, one bath, with boat slip and garage in Jackson Park off of North Shore for $129,900.

Four bedroom, one bath on 50 feet of private North Shore lakefront for $325,000.

Older three bedroom, two bath with wooded drive and 50 feet of private North Shore frontage for $589,000.

One bedroom, one bath condominium in Geneva Landings that includes a garage, boat launch and swimming pool for only $184,900.
Geneva Landings interior view.

View from Geneva Landings balcony.

Sunday, October 30, 2011

50 feet of Delavan Lake for under $350,000

     The newest Delavan Lake deal is located at 2500 North Shore Drive.  The four bedroom cottage is listed for only $325,000 and offers spectacular views just steps from the water.

     The property is in the Rockford Colony, once the site of circus worker tents and short term housing.  The quaint area clusters a number of homes close together with some sharing a swimming pier.
     This home, however, has its own pier, its own frontage, and incredible views.  The first floor has a small kitchen area that opens up to a dining room with lake views and wood floors.  There is a large great room with natural fireplace and an enclosed porch that stretches across the entire front of the home.  Upstairs are four generous bedrooms, all with wood floors and two overlooking the water.

Friday, October 28, 2011

Stately Delavan Lakefront Offers Waterfront Value

     While the trend on Delavan Lake has been towards the second home market, occasionally a property will come on the market that offers a full-time resident both a solid year-round home and lakefront living at a reasonable price.  Such a property is now available on Blue Heron Drive.

     This impeccably maintained, three bedroom, three bath home, rests 100 feet of picturesque lake frontage on the Outlet of Delavan Lake. 
     The open concept great room, with vaulted ceiling, fireplace, lake views, sun porch and deck gives the lake access and feel of many of the summertime retreats.  The floor plan has a main floor laundry, office and two guest bedrooms. 
     The walk-out lower level features a large master suite complete with walk-in closet and plantation shutters, a family room with direct lake access, and a patio.  There is also a three-car garage, well landscaped yard and large private pier. 
     Listed for only $630,000 the home is worth considering for both summer house hunters as well as those that can take advantage of Delavan Lake's beauty all year long.

Wednesday, October 19, 2011

3rd Quarter Delavan Lake Sales Up from 2010

Sales of Delavan Lakefront and Lake Access properties grew at a healthy pace for the third quarter of 2011

From July 1 to September 30, there were four lakefront properties sold.  Last year, there were no sales during this period.  Year to date, there have been 14 sales of Delavan lakefront properties compared to nine in 2010.  Sales ranged from a three-bedroom on North Shore for $705,000 to a five bedroom, four-bath home on South Shore for $1,250,000.

Sales of Delavan lake access properties also were strong with 10 sales for the three month period.  Nine were sold during the same time frame last year.   Year to date, there have been 19 lake access sales compared to 19 last year as well.  The sales for the quarter ranged from a $55,000 one-bedroom foreclosure to a $390,000 four-bedroom in Rockford Colony.

The lakefront condo market picked up as well in the third quarter.  There were six sales this year compared to two last year.  Year to date, there have been 10 sales compared to 13 last year.   The sales for the quarter ranged from a $129,900 Delavan Club one-bedroom to a $300,000 Delavan Gardens three-bedroom.

There are 94 single family homes on the market with lakefront or lake access on Delavan Lake.  This is down from 99 last year.  The lakefront properties start at $174,900 for a three-bedroom home on Brown’s Channel and progress to $2,199,999 for a six-bedroom home on Cedar Point.

In the condo arena, there are 54 units for sale, which is up from 43 last year.  The properties range from a $48,900 one-bedroom condo/hotel to $319,000 for a three-bedroom in Delavan Gardens.

The best value for a lake access property on Delavan is located at 4125 Ravenswood.  Reduced from $199,000 to $149,900, this three-bedroom home has a pier, boat slip, full basement and two-car garage.

The best value for a Delavan lakefront is 2229 South Shore Drive.  This five-bedroom, four-bath lakefront, has 75 feet of level frontage, a large front deck and a 3-car garage.  It has been reduced from $949,000 to $849,000.

Saturday, October 15, 2011

South Shore Sales Continue to Roll on Delavan Lake

     Even as the crisp fall air cools down the lake related activities, the sales on South Shore Drive of Delavan Lake are heating up.  Two more sales in October have placed this year's lakefront sales solidly ahead of last year's.
     The first sale, closing on October 3, was at 2201 South Shore Drive.  Listed at $1,499,000 and selling for $1,200,000, this immaculate five bedroom, five bath lakefront is situated on 80' of South Shore frontage.
     The home was newly constructed with 10 foot ceilings, crown molding, and granite counters. The main level boasts a gourmet kitchen, formal dining room, great room with gas fireplace, private office and bedroom suite with lake views. Three large bedrooms and a master suite featuring marble shower, jetted tub and huge walk in closet grace the second level. Of course there is also a lakeside patio and sunroom to view the sunsets.
     The second sale is located at  2347 South Shore Drive.  It was listed for $590,000 and sold for the same price on October 12.  Assessed at $893,100, this was a short sale that sold well below the current market value for the property.
     The parcel included five bedrooms, three bathrooms and a one-car detached garage.  Situated on 50 feet of lakefront, the home has a first floor master suite, large living room with cathedral ceiling and a spacious lakefront deck.

Wednesday, September 28, 2011

Town of Delavan makes progress on pledges

     The Town of Delavan has made tremendous progress on pledges made to citizens already this year.  In a tough economic environment, the town has shown what fiscal responsibility and cooperation among board supervisors can achieve.
     The town embarked on two large municipal projects this year.  First is the Inlet dredging project.  This project, the largest Delavan Lake project in 20 years, planned to remove over 45,000 tons of phosphorus laden sediment from the Inlet to improve and ensure continued lake water quality.  The project is on track to be completed November 1, on budget.
     Second is the reconstruction of South Shore Drive.  This project, extending from Baily Road to County O, is putting in new culverts, a mulit-use path and new surface for the entire distance.  The effort will enhance the safety of the road, allow space for walkers, bikers, and joggers, and improve storm water management along the drive.  The reconstruction is on track to be completed November 15.
     In addition to these projects, a pledge by the Town Chair, to work with developers to be more responsible citizens, is also paying off.  A developer that owned two dilapidated buildings along South Shore Drive, buildings formally known as the Peek Inn and Clowns Lounge, was contacted and asked to remove the buildings that had stood vacant for over two decades.  The buildings had become homes for racoons, and other animals, were falling down and shedding debris during storms.  This week, the buildings are being razed.
     Finishing fiscal touches on the Town of Delavan activities include refinancing town debt at a rate of 2.2% and completing a balanced budget for 2012 that does not increase any taxes and keeps employment levels unchanged.

Tuesday, September 27, 2011

Boatslip on Delavan Lake Now Affordable

     It was just three short years ago when the least expensive habitable home with boat slip on Delavan Lake was $225,000.  For nearly a quarter of a million dollars, you could get a three bedroom ranch with a slip that was four blocks away from the lake.
     Now, the market has dropped that entry point by nearly $100,000.
     For only $129,000, a boating enthusiast can now purchase a four-bedroom, one bath, two-story home with a one-car garage, patio and ... a boat slip.

     The home is located along the north shore of Delavan Lake in Jackson Park.  The park, a quiet, social community, has a pier with boat slips, a small park area, and a swimming area for residents.
     In addition to four large bedrooms, the property has a large living room, kitchen and dining room on the first floor.  Many windows allow light throughout the day and vinyl siding limits the annual maintenance cost.

Thursday, September 22, 2011

Delavan Lakefronts adjust prices to end of season

     A number of Delavan Lakefront Properties have made adjustments in price now that the summer selling season is winding down.  The year is proving to be one of the best on record in terms of unit sales, although prices have followed the rest of the real estate market lower.
     Examples of recent price reductions include a reduction from $699,999 to $679,000 for a three-bedroom ranch on 100 feet of South Shore frontage.

     A reduction from $850,000 to $799,000 for a four-bedroom two-story on 85 feet of North Shore frontage.

     A reduction from $899,000 to $849,000 for a five-bedroom two-story on 75 feet of South Shore frontage.

     A reduction from $925,000 to $899,000 for a four-bedroom two-story on 121 feet of South Shore frontage.

Monday, September 5, 2011

Sales Exceed 2010 with South Shore Closing

     Sales of Delavan Lake Property for 2011 now exceed the sales level for all of 2010.  With the sale of the property located at 2801 South Shore Drive, there have been 14 lakefront closings for 2011 compared with only 13 for all of 2010.

     The property at 2801 South Shore Drive was only on the market for five days when an accepted offer came in.  Situated on 60 feet of level frontage, the home showcased two bedrooms on the first floor, an additional three bedrooms on the second floor and a large master suite with lake side balcony.

     Selling for $780,000, which was $75,000 more than the assessed value, also gave evidence to the strength of the market.  Multiple buyers were interested in the property.
     In addition to the five bedrooms, three baths, family room, living room, and formal dining room, the property also featured a rare waterfront boat house with rooftop patio.

Friday, August 19, 2011

Delavan Lake activity for August 2011

There have been two lakefront sales and one lake-right sale over the last two weeks.
Activity remains strong with a number of recent price reductions.

Price reductions include:
1529 Jackson Park Dr., 4BR w/boat slip was $149,000 now $139,000
4025 Ravenswood Dr., 3BR w/boat slip was $199,000 now $189,000
1713 South Shore Dr., 3BR w/100’ of frontage, was $699,000, now $679,000
2210 Landings Ln, 3BR condo w/pier, was $276,900, now $267,000
1622 Westbank Circle, 2BR condo w/boat slip, was $299,000, now $274,900
1627 Westbank Circle, 3BR condo w/boat slip, was $345,000, now $325,000

There are also four new listings ranging from a $134,000 2-bedroom to a 4BR on 120 feet of South Shore frontage for $925,000.

Wednesday, August 17, 2011

Delavan Lakefront on North Shore adds to solid year

     The most recent Delavan Lake property sale, located at 2910 Borg Road on the north shore of the lake, has pushed sales this year to 13 lakefronts.

     Situated on 83 feet of gently sloped frontage, this three-bedroom Cape Cod sold for $705,000 which was over $200,000 below the assessed value.

     Although the property needed some work, its large lakefront deck and sun porch complimented the spacious living room with natural fireplace, formal dining room and sail room.  All bedrooms were located upstairs and the property has a detached two-car garage along with a gated entrance.

Friday, July 29, 2011

First $1 million Delavan Lakefront sale for 2011

     The first Delavan Lakefront sale of $1 million or more for 2011 took place yesterday.  Located at 3311 South Shore Drive, this 5000 sq ft two-story sold for $1,250,000.

     The property came on the market in 2008 at a list price of $2.8 million and fell victim to the decline in prices that have affected the entire area.  The original price of $2.8 million was very aggressive since the assessed value at the time was only $1.9 million.  Had the property been properly priced, the 30% reduction in area real estate prices would put the home near its actual selling price.

     The home features 102 feet of prime South Shore frontage, a great room with soaring ceilings and a wall of window.  There are five bedrooms, four baths, a lakeside office, billiard room and walk out lower level.
     With this sale, there have been twelve sales of Delavan lakefront properties for 2011.

Wednesday, July 27, 2011

Price Reductions Keep Delavan Lake Market Moving

     Price reductions on Delavan Lakefront Properties are keeping interest strong in the waterfront real estate market.  Delavan continues to see interest in lakefront properties with eleven sales to date and three more under contract.
     Recent price reductions include 1713 South Shore Drive, a three-bedroom ranch with 100 feet of lakefront and expansive views.  This property has been reduced from $899,000 to $699,000.

     Another reduction is on 2229 South Shore Drive.  This is a five-bedroom, four-bath home with 75 feet of lakefront, large great room, screened porch, open deck and detached garage.  The price was reduced from $949,000 to $899,000.

     Other reductions include a five-bedroom, three-bath lakefront on 50 feet of frontage reduced from $699,000 to $590,000 and a five-bedroom, four-bath home on 215 feet of frontage that was reduced from $999,000 to $799,000.

Monday, July 18, 2011

Affordable Delavan Lakefront on Outlet

     The newest Delavan Lake Property is located on the outlet of Delavan Lake.  This three-bedroom, three-bath waterfront property is at 2086 Lake Trail Drive and features 120 feet of private frontage, a large pier and well manicured landscaping.

     Tastefully decorated, this lake home offers carefree ranch living in a private subdivision where owners can be see taking leisurely strolls along the lane.  All remodeled in the last few years, the home offers an open concept Great Room with patio doors to a lakefront deck, two-sided fireplace, kitchen with solid surface counters, wood floors, Sub Zero refrigerator and high end appliances.
     The master suite has peaceful lake views and an updated bathroom.  There is a laundry room, two car garage and large lake side deck for entertaining.  The property is listed for $435,000 with Keefe Real Estate.

Saturday, July 9, 2011

Delavan Lake First Half Summary

     Sales of Delavan lakefront properties are on their fastest pace since 2007.  Reduced prices have increased activity as bargain hunters are being rewarded with sharp discounts.

     For the first six months, there were ten lakefront properties sold and nine lake access property sold.  Last year, there were nine lakefronts sold and five lake access properties sold in the first half.  The lake access properties ranged from a $16,250 tear-down cottage in Delmar Subdivision to a $119,900 two-bedroom in Delmar.  The lakefronts ranged from a $325,000 four-bedroom off North Shore to a $718,000 four-bedroom, three-bath home with 60 feet of frontage on Lake View Drive.

     Delavan Lake condominium market sales are less than half of last year’s number.  There have been only four sales this year compared to 11 last year.  Sales ranged from a $38,000 condo/hotel unit to a $230,000 three-bedroom Delavan Club two-story.

     There are 109 single family homes on the market with lakefront or lake access on Delavan Lake.  This is down from 111 last year.  The lake access properties start at $99,900 for a small two-bedroom and increase to $595,000 for a four-bedroom home with lake views and a boat slip.  Lakefront homes start at $175,000 for a one-bedroom home on Highlands Channel and progress to $2,499,900 for a six-bedroom home with 132 feet of frontage on North Shore.  40 of the lakefront homes are on the main body.

     In the condo arena, there are 42 units for sale, which is down from 47 last year.  The properties range from a $49,900 one-bedroom condo/hotel to $349,900 for a remodeled three-bedroom with a pier, boat lift and boat launch in Delavan Gardens.

     The best value for a condo on Delavan is located at 1447 Delavan Club Drive.  Listed at $154,900, this remodeled one-bedroom home has a wood floors, granite counters, natural fireplace, pier, boat launch, swimming pool, and club house.  In addition, there is a detached one-car garage.

     The best value for a Delavan lakefront is located at 2201 South Shore Drive.  This five-bedroom, five-bath home, has 80 feet of level lakefront, private pier, tiered deck and two 2.5 car garages.  Listed at $1,499,000, this home offers panoramic lake views, sunsets and has been reduced from an initial listing price of $2 million.

Thursday, July 7, 2011

Delavan Lake to Host Sailboat Regatta

     The Delavan Lake Yacht Club will be hosting the ILYA E-Boat Regatta July 7-10.  Seven sailboat races are scheduled for the event with the first race scheduled for Friday, July 8.
     The Yacht Club is located at 1501 Cedar Point Drive, Delavan along the north Shore.
     Race action can be viewed from the shore line or by boat on Delavan Lake.  The Yacht Club expects 30-40 sailboats will be involved in the races.

Friday, July 1, 2011

Delavan takes Lakefront Sales Lead

     Delavan lakefront sales now out pace all other lakes in Walworth County for 2011.
     With the sale of a three-bedroom home on North Shore Drive yesterday, Delavan now has 10 sales for the year compared with nine for Lake Geneva.  Two other homes are under contract as well on Delavan Lake with showings up over last year. 
     Reduced prices have much to do with the sales upturn.  Many homes are priced 30 percent than they were two years ago.
     Here are the sales for the first six months by lake:
     Beulah - 2
     Whitewater - 3
     Lauderdale - 5
     Geneva - 9
     Delavan - 10

Friday, June 24, 2011

Sales continue to build on Delavan Lake

     Sales continue to defy the recession on Delavan Lake with lakefront sales at their strongest level since 2007.  To date there have been nine lakefront sales compared with only seven in 2010 and three in 2009.  The last time we had this much activity was in 2007 when there were 11 sales by this time of the year.
     The latest sale was at 2014 Lake View Drive on the North Shore.  Selling for $735,000, this four-bedroom, three-bath Delavan lakefront property has 68 feet of level frontage, mature trees and excellent lake views.
     The home features a full-length lakefront deck, large great room with fireplace, sun room and 2.5 car garage.  There are two main level bedrooms, two upstairs bedrooms, wood floors and an open concept design.

Wednesday, June 22, 2011

Delavan Lake Inlet Dredging Underway

     The Delavan Lake Inlet Dredging Project has begun.  The project, which will result in removal of 45,000 cubic yards of accumulated sediment from the Inlet, will entail dredging a 3,000 foot channel, upstream from the bridge on Hwy 50 out towards Jackson Creek.
     The channel will have a width ranging from 85 to 250 feet and the area dredged will have a range of five feet deep or to the hardpan bottom of the Inlet.  The project has been engineered by Peter Berrini of HDR Engineering and HDR is overseeing the project along with the Town of Delavan Lake Committee.

     The successful bidder for the actual dredging and the critical de-watering  process is JND Thomas.  JND Thomas is based out of Riverdale, California and has extensive experience in the dredging process and has already begun to locate the de-watering equipment behind the Fire Station located on Town Hall Rd.

       The sediment will be pumped from the dredge through fused pipes to the de-watering facility.  The contractor has begun building this pipeline as can be seen in the picture below.
     The actual dredging process is scheduled to begin on July 30, 2011.