Thursday, April 21, 2011

Little Lakefront Pushes Property Sales

     The latest lakefront property to sell on Delavan Lake was the smallest.  Literally.
     With only 12 feet of lakefront at the water's edge, this three bedroom home will most likely be remodeled into something grander than the aging two-story that it currently is.
Delavan's Smallest Lakefront

     Boasting panoramic views from the North Shore, the property expands out to 47 feet at the road side and is 277 feet deep.  The property has a 2.5 car garage for boat and toy storage, 2 baths and a large front deck and living room that opens up to the wide open views.
     The sale is the fourth sale for Delavan Lakefronts this year.  Selling at a six percent premium to assessed value, it is a positive sign for lakefront pricing.

Sunday, April 17, 2011

Delavan Lake 1st Quarter Summary

     Sales of Lakefront and Lake Access Property on Delavan are having a mixed start this year.  While actual sales have been limited, showings are up and so are accepted offers.

     For the first quarter, there were two lakefront properties sold and no lake access property sold.  Last year, there were three lakefronts sold in the first quarter and one lake access sold.  The sales ranged from a $525,000 foreclosure on Alpine Lane to a $605,000 five bedroom cottage on South Shore.   12 properties have accepted offers.

     The Delavan Lake condominium market has started off slow.  There has been only one sale this year; a $195,000 three bedroom Delavan Club condo.  Last year, there were two sales in the first quarter.  Three condos with lake access currently have accepted offers.
 Delavan Club Sale

     There are 94 single family homes on the market with lakefront or lake access on Delavan Lake.  This is up from 85 last year.  The lake access properties start at $29,950 for a small two-bedroom cottage and increase to $595,000 for a four bedroom home with lake views and a boat slip.  Lakefront homes start at $335,000 for a three-bedroom home on Brown’s Channel and progress to $2,499,900 for a six-bedroom home with 132 feet of frontage on North Shore Drive.  Both of these homes were on the market this time last year as well.

     There are 56 condo units for sale which is up from 52 last year.  The properties range from a $20,000 one-bedroom condo/hotel to $375,000 for a three-bedroom unit with a pier, boat lift and boat launch.

     The best value for a lake access property on Delavan is located at 4325 East Drive.  Listed at $129,900, this remodeled two-bedroom home has a pier, boat launch, park, and beach area.  It has an attached one-car garage for storage and ample parking.
 4325 East Drive
     The best value for a Delavan lakefront under $1 million, is located at 2350 North Shore Drive.  This three-bedroom, 1.5-bath home, has 50 feet of level lakefront, a private pier, two car garage and large sunroom.  Listed at $549,000, this home is in excellent condition and priced to move.    
 2201 South Shore Drive
     Over $1 million, the best value lakefront is located at 2201 South Shore Drive.  The newly constructed home has five bedrooms, five baths, 10 foot ceilings, gourmet kitchen, formal dining and living rooms and 80 feet of lakefront.  It is priced at $1,599,000, which is over $200,000 less than the assessed value.

Friday, April 8, 2011

Foreclosure Keeps Delavan Lake Sales Moving

     The sale of a second foreclosed Delavan Lake property this year has kept activity moving for waterfront homes.  Originally listed for $1,675,000 during the summer of 2010, this 5,688 square foot home was sacrificed for only $702,000.

     A spectacular, uniquely designed lake home, the property has four levels of living including six bedrooms, four baths and a private boat house on 60 feet of pristine Delavan lakefront. 

     The top level was designed as an art studio with views of the water and a spiral stair case leading to the bedroom level.  The bedroom level features an enormous master suite with extensive tile work in the bath and a circular sitting room with panoramic views of the lake.
     On the main level, a uniquely designed great room opens to the kitchen, formal dining room and circular Florida room overlooking the water. 

     The lower level houses an exercise room, additional bedroom and Roman Spa with separate jetted tub and steam shower.  A children's play house, two decks, private pier, and office are just some of the other special features.