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Showing posts from 2012

Vacant Lake Lots Snatched Up

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     Over the last year there had been no vacant lots sold on Delavan Lake.      Over the last two years there had been no vacant lots sold on Delavan Lake.      Over the last three years there had been no vacant lots sold on Delavan Lake.      You get the picture.      This was true until two parcels, each with 100 feet of lakefront just recently sold.      And the price for each, $600,000.      You would think that would then set the value for 100 feet of lakefront on Delavan, however, there is more to the story.      The first lot, located at 1713 South Shore, had 100 feet of frontage, about an acre of land, but was next to the Village Supper Club.  Not that there is anything wrong with the Village Supper Club.  Quite the opposite, they have great food and a killer fish fry.  But, in general, people don't want to build a million dollar house next to a supper club. This had an effect of reducing the value by 25 percent or $200,000.      The second lot, located at 311

Delavan Lake 3rd Quarter Update

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Delavan Lake property sales picked up remarkably in the third quarter.   There were just as many sales in the third quarter as there were in the first and second quarters combined.   Total sales for lake homes is now ahead of last year’s total. HOME SALES For the first nine months there were 12 lakefront properties sold and 23 lake access properties sold.   Last year at this time there were 14 lakefronts sold and only 19 lake access properties sold.   The lake access properties ranged from a $32,101 two-bedroom foreclosure to a $480,000 three-bedroom custom built home in the Viewcrest Subdivision.   The lakefronts ranged from a $311,000 foreclosure on the North Shore to a $1,300,000 four-bedroom estate with 150 feet of frontage, also on the North Shore. CONDO SALES There have been 11 Delavan Lake condo sales this year compared to 10 last year.   Sales ranged from a $30,000 condo/hotel unit to a $300,000 three-bedroom, three-bath unit in the Delavan Gardens that inclu

Delavan Lake Breaks the $600,000 Barrier

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     If you want a nice lakefront property on Delavan Lake, even with minimal frontage, it will cost you at least $600,000.  Or at least that is the way it used to be.      This week, a completely renovated three-bedroom, two-bath lakefront on 47 feet of meandering frontage came on the market for a mere $559,000.      The property, located at 2210 Fleming Drive, was purchased by a builder, out of foreclosure earlier this year and has been transformed into a stellar lakefront deal.  Sitting on prime North Shore frontage , this completely renovated home features wood floors throughout, a large brick lakeside patio and great yard space for volley ball, football or lounging around.      The combination dining and great room feature cathedral ceilings and water views along with sliding patio doors to the waterfront. The open concept kitchen contains a breakfast bar, granite counters, stainless steel Whirlpool appliances, high-end cabinetry and a bright sunny exposure.       In the m

Delavan Lakefront Sellers Resort to Discounts

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     The Delavan lakefront real estate market has been as tough this year as the drought and heat have been on the local corn crop.  After a strong 2011, the activity on Delavan Lake has shriveled up like the fields in the August heat averaging only one sale per month.  This is half the rate of sales Delavan Lake saw the previous year.      Just this week, Delavan saw the first sale in September.  The real estate bargain was a heavily discounted lakefront with 150 feet of prime South Shore real estate.  Owned by the Stephens family of Rosemont, Illinois, this lakefront estate featured three homes and a gated entrance off of South Shore Drive.      Originally listed for $2,999,900 in 2009, the home succumbed to the lack of buyers and was snatched up for a mere $975,000.  The property consisted of a five-bedroom main house built closest to the water, a three-bedroom guest house and a three-bedroom gate house next to the road.  All structures were well maintained and in good condition.

One Bedroom Waterfront Wonders

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        An inexpensive way to experience and familiarize yourself with Delavan Lake is to start with a waterfront condominium.   No grass to mow, no snow to shovel, someone watching over the property, and maintenance is included.   Let’s not forget the swimming pool and club house you can enjoy.      Right now, there are a number of one bedroom waterfront units available on Delavan Lake.   The two largest condominium associations, Delavan Club and Geneva Landings, offer the greatest number of amenities and convenience. Delavan Club pool and clubhouse area      One bedroom units in the Delavan Club start at only $176,000 and include a boat launch, pier system, swimming pool, club house, tennis court, basketball court and exercise room.      Units currently for sale include 1489 Delavan Club listed for $176,000 and 1401 Delavan Club for $179,000.   Both units walk directly out to the water from the first floor and have been recently updated. 1401 Delavan Club living r

Delavan Lake 1st Half Summary - 2012

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     Sales of Delavan lakefront properties are down significantly for the first half of the year while lake access and condos are showing gains.   After near record sales in 2011, enthusiasm for the lakefronts has wilted in the summer heat and many sellers appear ready to make a deal.   HOME SALES      For the first six months, there were six lakefront properties sold and 15 lake access property sold.   Last year at this time, there were ten lakefronts sold and nine lake access properties sold.   The lake access properties ranged from a $32,101 two-bedroom foreclosure to a $300,000 two-bedroom with vast lake views in the Viewcrest Subdivision.   The lakefronts ranged from a $311,000 three-bedroom foreclosure on the North Shore to a $1,300,000 four-bedroom, three-bath estate with 150 feet of frontage also on the North Shore. CONDO SALES      Delavan Lake condominium sales are doing better due to the movement of some foreclosures.   There have been eight sales this year comp

Delavan Lakefront Sales Wither in Heat

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     After a decent start to the year, sales on Delavan Lake have shriveled up like the area corn in the heat of the summer.  There were four quick sales early in the year ranging from a $550,000 foreclosure to a $1.3 million dollar lakefront estate.  Since then, only two additional sales managed to close in the first half of the year.      One of these recent sales was a $311,000 foreclosure located on 50 feet of frontage and the other a $571,250 tear down situated on 87 feet of South Shore frontage.  The only rapid activity in the area is the pace at which the 87 foot property was torn down.  It seemed as though the ink was still drying on the signatures when the bulldozers took charge of the property.      Prices remain relatively firm regardless of the limited sales.  This is mainly due to the fact that many sellers took hefty price reductions early in the year.  One example is 1409 South Shore.  The property is assessed fro $1,087,500 but has been reduced to $899,000 making is s

Delavan Lake June Price Reductions

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     With the summer unofficially in full swing, home owners are now moving to reduce prices around Delavan Lake in order to attract potential buyers before the season slips away.  Many lake access properties have seen solid reductions making them an affordable get-away.      On East Drive, off of South Shore, is a well-maintained two-bedroom with association rights that include a swimming pier, beach and boat launch.  Located at 4325 East Drive, the property has been reduced to $120,000 and is ready to move in the summer gear. It's easy being green at 4325 East Drive      Down the way, off of South Shore is 4214 Poplar Drive.  This three-bedroom, two-bath home features wood floors, gas fireplace, open concept and a large 2.5-car garage with screened patio.  Reduced to $175,900, this home belongs to the Highlands Association that sports one of the best beaches on Delavan Lake along with a private boat launch, park, volleyball court and baseball field. Totally renovated 421

Delavan Lake Rights at Reduced Prices

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     Three homes with Delavan Lake rights took action to reduce their listing prices last week.  Each home represents a unique area of the lake with a variety of access that come along with the property.      The first is located in historic Assembly Park on the north shore of Delavan Lake.  Assembly Park offers a private beach, boat launch, large park area and social activities.  While residents go on a waiting list for boat slips they can sometimes rent a slip space.  The Assembly Park property is at 1609 Polk Ave., features three bedrooms, two baths and has been reduced from $179,000 to $169,000. Polk Avenue in Assembly Park      The second property is located in the Highlands Subdivision at the west end of Delavan Lake.  The Highlands also offer a large private beach, boat launch, volley ball courts, park with pavilion and a waiting list for boat slips.  The Highlands property is located at 4214 Poplar Drive., and features three bedrooms, two baths, a screened in patio and l

Delavan Lake 2012 Fireworks Schedule

     The Town of Delavan has announced the preliminary schedule of events for Independence Day Celebrations.  The events will take place on the Saturday before July 4, which falls on June 30 for 2012.  All events will take place a the Town of Delavan Community Park which is located at the corner of South Shore Drive and Hwy 50 on beautiful Delavan Lake.      Events for June 30, 2012 include: 9 am – 10 am Boat and Horseshoe Registration (coffee and donuts will be on sale) 10:00 am Horseshoe tournament starts 10:30 am cardboard boat races start 11am-10:45pm Food and beverage sales 12:00 Bingo card sales begin 12:00 outdoor children’s activities start (slide, bounce house, games) 1:00-4:00 Bingo 4:00-6:00 Children’s activities, magician, face painter, balloon maker (6:00-7:00 band stage setup) 7:00-10:45 music and dancing 9:30-10:00 Fireworks (music break) Fireworks can be seen by boat on Delavan Lake or on shore at Community Park.

Delavan Home Sales Increase 19 Percent Over Last Year

     Delavan single family homes sales are up 19 percent this year according to the Multiple Listing Service.  Sales for 2011 through the first week of April totaled $4,039,000 while sales for 2012 total $4,802,000.      Unit sales are also higher. There were only 23 sales in 2011 by this time of the year while for 2012 we have a total of 35 sales.  As a result, the average sale price has fallen from $176,000 in 2012 to $137,000 in 2011.      These sales include both the city and the town of Delavan. 

Delavan Lake First Quarter 2012 Summary

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Delavan Lake property activity is up slightly in the first quarter of 2012 compared to 2011.  While showings have increased, sales have been slow to materialize and foreclosures have seen most of the action. HOME SALES      For the first quarter, there were two lakefront properties sold and three lake access property sold.  Last year, there were two lakefronts sold in the first quarter and no lake access sold.  The sales ranged from a $550,199 foreclosure on the South Shore to a $41,000 foreclosed cottage on South Shore Drive.   Six properties have accepted offers compared to 12 that had accepted offers this time last year. CONDO SALES      There have been three condo sales with lake rights in the first quarter.  This compares to only one last year.  The sales ranged from a Lake Lawn Condo/Hotel foreclosure at $30,000 to a three bedroom, three bath Geneva Landings Garden unit which sold for $224,200.  Three condos with lake access currently have accepted offers. CURRENTLY LISTE

Delavan Lake Water Quality Monitoring Resumes

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     The water quality monitoring program instituted in1983 by the U.S. Geological Survey (USGS) has been reinstated by the Town of Delavan.   In February, the Town approved a proposal from the USGS to restart the program after a two year hiatus.    On   Thursday, March 15, USGS employee, Ben Siebers, undertook the initial sampling called for in the new agreement.      The monitoring program calls for testing for some 25 physical, chemical, and biological parameters.  Samples will be taken from three Lake locations.  These locations will be identified by GIS technology and use advanced sampling and testing equipment.  The samples will be collected from three different depths at each site using rigorous USGS testing protocols.      The overall in-lake water quality monitoring program was designed by USGS Chief Hydrologist Dale Robertson with input from Mr. Peter Berrini of HDR Inc.  HDR is the firm retained by the Town of Delavan to provide advice and guidance on Lake questions and

Affordable Delavan Lake Get Away

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     Here is the opportunity to own a lakefront cottage with spectacular views and a boat slip right out the front door.  Located in the Viewcrest Subdivision at Delavan Lake's northwest end, this carefree home offers an open concept living area with wood floors in the kitchen and dining area, one full bath, and a large great room/sleeping area.       Listed as "open concept", we really mean "open".  It is more of a studio apartment feel with the bedroom morphed into part of the living room.  The home does need a little sprucing up, although it has newer windows and the wood floors are in good condition.      But that's not the point.  You get great lake views, a private boat slip, two-car garage and a private back patio all for less than $180,000.      Viewcrest is a well run association and offers a boat launch, swim pier and beach area for residents as well.     For a couple or single individual looking for that lakefront deal.   It just arrived.

Vacant Delavan Lake Parcel Ready to Build

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     Rarely does a vacant parcel of land become available on Delavan Lake.  Even more rare is a 100 foot parcel.      So it is truly a unique situation to have a 200 foot Delavan Lakefront parcel, with level frontage, a private wooded entrance, located in the middle of the South Shore, come up for sale.      Fortunately, for the buyer looking to create a Delavan Lake estate of his own, that possibility has become a reality.      Located at 3119 South Shore Drive, this spectacular piece of land features a driveway entrance directly off of South Shore that leads through the trees to a clearing that opens up to a spectacular view of the entire lake.      The slope is gentle to the water.  The lot is over 1300 feet in depth and is perfect for a walkout residence with lakefront balconies and patios.      Listed for $1,690,000, the location and privacy will rival any on Delavan Lake and awaits the creativity of its next lakefront owner.

New Assembly Park Listing Hits Market

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     Finally, a new listing in Assembly Park on Delavan Lake!      After over a year drought from new listings, there is the opportunity for patient buyers to purchase a property in the Delavan Lake Assembly.       The subdivision, nestled along the north shore of the lake, has long been an area of homes that pass down from one generation to another.  Often the properties never hit the public market.      This new listing, a well-kept three-bedroom, two-bath cottage has lake views, an open floor plan and a large front deck for taking in all the park and lake action.      Assembly Park is a unique area on the lake for a number of reasons.  There are actually seven parks interspersed on the grounds with the main park encompassing a baseball diamond, beach, swim pier, shuffle board court and playground equipment.      Residents can not only enjoy the lake activities, but also weekend bingo and other social events exclusively for members of the association.      The new listing, a

Viewcrest Perch Gives Ice Fisherman Space to Recharge

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     Ice fishing is in full swing on Delavan Lake with huts, pails, and shanties filling the frozen water.  Above the shivering sportsmen, on the north west end of the lake, is perched the Ice Fisherman's Hide Out.      After climbing the pyramid-like steps, a cozy two-bedroom escape waits to warm the weary with its natural fireplace, wood floors and incredible views.      The rustic lake home features many window to take in the scenery, an expansive front deck for entertaining and a back patio for privacy.  Listed at $329,000 the property also includes a boat slip for use in the summer months and plenty of parking at the foot of the property.

Delavan Lake 2011 Summary

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The lakefront market was very strong in 2011 with unit sales near record levels as prices fell along with the general housing market. HOME SALES For the full year, there were 20 lakefront properties sold and 28 lake access properties sold.   The least expensive lakefront sale was $325,000   for a three-bedroom home on the Delavan Outlet while the most expensive sale was $1,250,000 for a five-bedroom, four-bath estate situated on 1.47 acres on South Shore.   The lake access properties ranged from a $16,250 foreclosure in Delmar Subdivision to a $390,000 four-bedroom Victorian in Rockford Colony.    Last year, there were 13 lakefronts sold and 21 lake access properties sold.    In 2009 there were 11 lakefront sales. CONDO SALES The Delavan Lake condominium market mirrored the prior year.   There were 14 sales in both 2011 and 2010.   The sales ranged from $38,000 for a condo/hotel unit at Lake Lawn to a three-bedroom, three-bath Delavan Gardens unit for $300,000. CURRENT MARKET HO