Tuesday, October 18, 2016

Instant Equity Available on Delavan Lake's North Shore

     A slow selling season has created a unique opportunity to receive some instant equity on Delavan Lake.  The sprawling lakefront at 2666 Willow Point Drive offers a future owner the opportunity to cash in on a discounted price for an updated home.
     The desire to purchase a larger residence, has prompted the owner of the Willow Point property, located along the North Shore of Delavan Lake, to reduce the list price of their 1.36 acre complex to $200,000 less than is was purchased for and this does not account for the $250,000 in improvements that have been made over the last eight years.
     I often see lake property seekers looking for the best deal, being able to take advantage of a situation and make out like a bandit.  Here is that opportunity.
A sprawling lakefront enclosed porch spans the entire front of the main home.
     Listed for $1.249,000, this unique home site includes a four bedroom main home resting on 83 feet of prime mid-lake frontage and an additional five bedroom guest home set back towards the 275 feet of roadside frontage.  Across the private drive is an orchard, natural meadows, and hardwoods that will protect the privacy of the residence for years to come.  Along the lakeside are million dollar lakefronts which insure the value of the investment even in turbulent times.
     What this property has to offer, besides some instant equity, is an updated interior, in both the main home and the guest house, a first floor master suite with radiant heat in the bathroom, jetted tub, natural fireplace and sprawling lakefront porch.  The newly installed hardscape off the main house features a lakeside fire pit and inviting pergola for relaxing and winding down at the end of the day.
Recently installed hardscape features firepit overlooking the main body of Delavan Lake
     Views off the private dock are serene and welcoming for guests as they tie up for an afternoon of sun and recreational water sports.
Room for boats, jet skis and swimmers at 2666 Willow Point Drive, Delavan Lake
     There is more than ample room for guests in the five-bedroom visitor home that includes its own expansive deck with water views and shaded comfort.  The main floor of this guest house is open concept with hardwood floors, a breakfast bar, and first floor bedroom.
     Kids can let loose in the lower level recreation room that has a walk out to the yard and lakefront and another bedroom to spread out the visitors.
     Upstairs in the guest house is a full master suite, with gas fireplace, tub and walk in shower.  Views of the lake can be found in most rooms and the whole complex flows in a carefree setting.
     It's a retreat.  It's a compound.  It's a private sanctuary on Delavan Lake.  A unique opportunity for a lucky buyer that can take advantage of the chance to put some instant equity into their real estate portfolio and have an investment that can be enjoyed for years to come.
A complete complex with main home and guest home flowing together to enjoy lake living.

Thursday, October 13, 2016

Mixed Results for First Nine Months on Delavan Lake

     The Delavan Lake real estate market was mixed for the first nine months of the year.  Lake front sales were at decade low levels, while lake access properties were up over 35 percent from the prior year.

HOME SALES
     For the first nine months of 2016, sales with water frontage on Delavan Lake fell to only seven sales compared to 12 sales by the same time last year.  Lake access properties fared better with 43 sales in 2016 compared to only 31 sales in 2015.  The range of lake access homes started at $49,000 for a run-down two-bedroom cottage off of Fleming Drive on the North Shore to a nine-year-old, six-bedroom, six-bath, two-story with extended views off of Willow Point that sold for $699,000.  The lakefront homes started with a walk-out three-bedroom ranch on the Delavan Outlet that sold for $469,000 and went as high as $1,010,000 for a four-bedroom with 100’ of South Shore frontage.
The sale at 1615 South Shore Drive was the only sale over $1 million this year.
CONDO SALES
     There were 15 Delavan Lake condos sold in the first three quarters which is two more than were sold in 2015 by this time.  Sales ranged from a $67,500 two-bedroom, two-bath condo/hotel room in the Delavan Lake Resort to $276,000 for a three-bedroom, remodeled Garden unit in Geneva Landings.
 
The unit at 2160 Landings Lane sold for the highest price for condos with lake access.
CURRENT MARKET HOMES
     The inventory for lakefront and lake access homes continues to decrease in 2016, with only 47 homes currently on the market.  This compares to 66 in 2015 and 73 in 2014.  Prices for lake access homes start at $62,900 for a two bedroom tear-down off of Dutch Mill Road that has views of the water and graduate to a four-bedroom on Glen Eyrie with a shared pier and private boat slip that is listed for $349,900.
     Lakefront offerings start at $349,000 for a three bedroom located at the mouth of Browns Channel and increase up to $2,950,000 for a 10,000 square foot prairie-style mansion on South Shore Drive that has 3.71 acres and 200 feet of shoreline.
The starting point for homes with access to the main body can be found at 2309 Lakeshore.
CURRENT MARKET CONDOS
     There are 20 condos for sale with lake access to Delavan.  This is the same number that was available this time last year.  The price range for these units starts at $49,000 for a one-bedroom condo/hotel in the Delavan Lake Resort and increases to $329,900 for a three-bedroom, three-bath unit that includes a boat slip in Delavan Gardens on the North Shore.

BEST VALUE LAKE ACCESS
     The best value for a lake access property on Delavan is located at 1635 Assembly Lane.  This two-bedroom cottage, at the entrance of Assembly Park, has old world charm with a large front porch and knotty pine interior.  Listed for $139,000, the home comes with association privileges that include a boat ramp, beach, playground, shuffle board court and waiting list for a boat slip.

BEST VALUE LAKEFRONT
     The best value for a Delavan lakefront is located at 4423 Robbins Road on the South Shore of the lake.  Listed for $699,000 the three-bedroom, three-bath home has a Florida-style design with open concept living looking out at the water, an expansive deck, walk out lower level and remodeled master suite with private screen porch. 
The best value on the lake is this remodeled walk out at 4423 Robbins Road.
BEST VALUE CONDO

     The best value for a Delavan Lake condo is a three-bedroom three-bath unit in Delavan Gardens.  Located at 1615 Westbank Circle, the home includes a boat slip, boat launch, attached two-car garage, and sand area by the water.  It is listed for $299,900 which is $30,000 less than a similar unit that is for sale in the complex.