Monday, July 30, 2012

One Bedroom Waterfront Wonders

        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 room area
1489 Delavan Club gas fireplace and walkout.

     Next to the Delavan Club is Geneva Landings; an aesthetically pleasing development with boat slips, boat launch, swimming pool and club house.
One of the Geneva Landings lakefront buildings.

     One bedroom units in Geneva Landings include 2157 Landings Lane listed for $179,400, 2202 Landings Lane listed for $182,000, and 2232 Landings Land listed for $189,000.  All three units look directly on the water and have a lakefront balcony to enjoy the lake life.
2202 Landings Lane living room.
2232 Landings Lane great room.
2157 Landings Lane walk out to lakefront balcony.

Friday, July 13, 2012

Delavan Lake 1st Half Summary - 2012

     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 compared to four last year.  Sales ranged from a $30,000 condo/hotel unit (half of all condo sales have been foreclosures) to a $300,000 three-bedroom, three-bath unit in the Delavan Gardens that included a boat slip and an attached two-car garage.

CURRENT MARKET HOMES
     There are 100 single family homes on the market with lakefront or lake access on Delavan Lake.  This is down from 109 last year.  The lake access properties start at $69,950 for a two-bedroom in Delmar Subdivision and increase to $529,000 for a custom three-bedroom, four bath home with lake views and a boat slip.  Lakefront homes on the main body start at $299,000 for a one-bedroom just off of Brown’s Channel to $1,999,900 for a six-bedroom home with 132 feet of frontage on North Shore.  This home has been on the market since 2008.

CURRENT MARKET CONDOS
     In the condo arena, there are 59 units for sale, which is up from 42 last year.  The properties range from a $34,900 one-bedroom condo/hotel to $319,000 for a three-bedroom with a pier, boat lift and boat launch in Delavan Gardens.  21 of the condos listed are foreclosures.

BEST VALUE CONDO
     The best value for a condo on Delavan is located at 1401 Delavan Club Drive.  Listed at $179,000, this remodeled one-bedroom home has new windows, granite counters, gas fireplace, pier, boat launch, swimming pool, and club house.  In addition, there is a detached one-car garage.
New kitchen and lake views from 1401 Delavan Club

BEST VALUE LAKEFRONT
     The best value for a Delavan lakefront is located at 1409 South Shore Drive.  This four-bedroom home, has 120 feet of level lakefront, private pier, lakefront deck and a three car garage.  Listed at $899,000, this home catches all the stunning sunsets and is assessed at nearly $200,000 above the asking price.
1409 South Shore Drive
Enjoy all the activity with this lakefront deck

Saturday, July 7, 2012

Delavan Lakefront Sales Wither in Heat

     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 some of the most affordable 120 feet of South Shore frontage currently available.