First 2011 Sale on Delavan Lake is Foreclosure

     Activity has picked up on Delavan Lakefront Properties with the first sale closing on January 28, 2011.  The sale of the property at 2911 Alpine Lane, just off of North Shore Drive, featured a remodeled three-bedroom lakefront with 60 feet of level frontage and a large deck.

     Perhaps most important, it was the first foreclosure to sell on Delavan Lake since a four-bedroom home on the outlet early in 2010.  Foreclosures are rare on Delavan Lake.  When they do come on the market, they are usually bid on aggressively with the sale being completed for above the listing price.
     This was the case with the property at 2911 Alpine Lane.  The property came on the market for $459,900 (which was a huge discount from the assessed value of $703,000) and sold for $525,000.  That's a 14% increase over listing price.  This also happened with the foreclosure on the outlet last year.  It too sold for more than the listing price.  Both properties also had multiple offers from interested parties.
     As for other lake activity... there are at least two other properties with accepted offers, showings are up, and only a snow storm will be able to slow things down.

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