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Showing posts from July, 2011

First $1 million Delavan Lakefront sale for 2011

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     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.

Price Reductions Keep Delavan Lake Market Moving

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     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.

Affordable Delavan Lakefront on Outlet

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     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.

Delavan Lake First Half Summary

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     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. HOME SALES      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. CONDO SALES      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. CURRENT MARKET HOMES      There are 1

Delavan Lake to Host Sailboat Regatta

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     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.

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