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.