Tuesday, December 26, 2017

Geneva Landings on Delavan Lake a Great Starter

     A comment often heard when buyers are considering a lake property is, “I don’t know how much I will use it.”  For those concerned with the number of trips they will make to a vacation home, a condo in the Geneva Landings complex may be a great option.
     The complex is located on the outlet of Delavan Lake which leads directly into the main body.  Owners have access to boat slips and a boat launch along with an easy-to-enjoy boat valet service that has your craft ready and waiting for you whenever you want to go out.
     The main reason that Geneva Landings is a great starter property is the carefree features of this condo development.  Lawn maintenance, snow removal, pool care and pier maintenance are all included in the monthly fee.  Owners can focus on enjoying Delavan Lake and not worry about the chores that can interfere with lake life.
     Currently there are 10 units available in the complex.  The smallest unit is a one-bedroom on Landings Lane offered at $159,000.  The one-bedrooms have water views and a detached one car garage.
2112 Landings Lane, a one-bedroom option in Geneva Landings

     Also offered with lake views are three of the two-bedroom units.  The two-bedroom units have one bedroom on the main floor and a second bedroom in a loft area that is accessed by a spiral staircase.
Set one row back from the water, is another version that features an attached garage and first floor master suite.  Located along Newbury Lane, these side-by-side condos have a walk out lower level that is finished off either with two or three additional rooms.
2172 Newbury Lane includes an attached one-car garage

     The largest units are built along Jefferson Lane, two streets away from the water.  While lacking a water view, the buildings are spacious three level townhouses with attached two-car garages and 1700 square feet of living space. 
2141 Jefferson Lane is one of the largest units offered in Geneva Landings

     All of the units have full access to the outdoor swimming pool, exercise room, club house and pier system.  With outside upkeep and roofs taken care of in the monthly dues, all of the units offer a way to try out the lake with a minimal time commitment.

Wednesday, November 29, 2017

End of season discounts on Delavan Lake properties

     As the end of the year quickly approaches, we often see some discounting on properties that the owners don't want to carry over the winter months.  This year is no exception with a couple of particular note.
     The first, which I call, the Ice Fisherman's Retreat, is located at 2808 Mabie Street, just off of the South Shore.  Recently remodeled, this cozy two bedroom has all the essentials for an Ice Fishing base camp... Heat. 
     Well actually, it has more than just a new furnace.  The house is surrounded by a chain link fence for secure toy storage, a detached garage, for secure toy storage, and a long paved driveway, for secure toy storage.
2808 Mabie Street could be your Ice Fishing Base Camp

     Priced at only $127,500 the property is in the Delmar Association that includes a boat launch that is perfect for launching your Ice Fishing Shanty in the winter and jet skis in the summer.
     Inside is enough room for weary fishermen and women to unload their gear and cook up the days catch.  In addition to the two small bedrooms is a front living room area and back enclosed porch.  A great opportunity for anyone wanting to set up their base camp.
     The second year-end-value is for those ready to cozy up to a fire and entertain guests in an updated three bedroom condo in the Geneva Landings complex.
     Found on the north side of the lake, 2172 Newbury Lane gives you the opportunity to enjoy Delavan Lake without the worries of home ownership.  Besides having a first floor master suite, attached one car garage and open concept living room with field stone fireplace, this unit enjoys on-site management for lawn care and snow removal.
Relax at the association pool included with 2172 Newbury Lane

     In the summer you can enjoy the in-ground swimming pool, bocce ball court, boat launch and extensive pier system.  There is a short waiting list for a boat slip and convenient In-and-Out-Service for those who desire professional assistance.
     Inside the unit you will also find a first floor deck overlooking the grounds, a walk out lower level, new carpet, stainless steel appliances and a cathedral ceiling.  The unit has just been reduced to $199,900 and is ready to move in today.

Tuesday, November 14, 2017

New Local Store For Delavan Lake Apparel

     Those wanting some Delavan Lake apparel and gift items can now find a selection at The Delavan Lake Store just off of Delavan Lake, Wisconsin.   This cozy shop combines a local ice cream, candy, cheese and coffee shop with a relaxing wine and cocktail lounge in the same building.
The Lounge at The Delavan Lake Store
2001 North Shore Drive, Delavan Lake, WI
    First opened in 2016, the store converted a shuttered restaurant into an ice cream shop and has expanded its offerings to include sweat shirts, t-shirts, hats and bags with Delavan Lake imprints and messages.  Also available are mugs, cups, shot glasses, and custom made gift baskets.
Shop online at www.DelavanLakeStore.com

     Offerings on the lounge side include locally produced wines from Staller Estate Winery and The Apple Barn.  Wisconsin brews are also available such as ones from: New Glarus Brewing Company, Milwaukee Brewing Company, Lake Geneva Brewing Company, Lakefront Brewery, and Gray Brewing Company in Janesville.
The Delavan Lake Store features local Wines, Beers, Cheese, Coffee and Ice Cream
     Hours are 8-8 Monday through Thursday, 9-9 on Friday and Saturday, and 9-5 on Sundays.
     The Delavan Lake Store is located at 2001 North Shore Drive, Delavan Lake, WI and can be found on line at www.DelavanLakeStore.com

Friday, November 3, 2017

Delavan Lake 3Q Home Sales Drain Inventory

For the first nine months of the year, sales of lakefront properties reached 22 units compared to only seven in 2016.  Prices ranged from $307,700 for a foreclosed three-bedroom on Manor Lane to $1.9 million for a magnificent newer construction along South Shore Drive. 
The lack of inventory hurt the lake access homes with 33 selling in the first nine months of this year compared to 43 in the same time frame last year.  Prices ranged from $69,000 for a two bedroom summer cottage to $657,500 for a tricked out two-story in Assembly Park with direct lake views.

Activity for condos was also strong with 19 sales through the third quarter of 2017 compared to 15 in 2016.  Prices for condo sales ranged from $44,000 for a one-bedroom condo hotel unit in the Delavan Lake Resort to $310,000 for a three-bedroom unit in Delavan Gardens on the north shore that included a boat slip and lake views.

There are 45 homes currently on the market with lake access or lake frontage on Delavan Lake.  This compares to 47 homes available last year and 66 in 2015.  The price range of lake access homes starts at $49,900 for a two-bedroom, 645 square-foot cottage in the Delmar Association to $670,000 for a three-bedroom ranch in Lakewood Estates that last sold for $242,500 in 2014.  I know inventory is tight, but the asking price on this 1976 relic is $400,000 over the assessed value.

If you want to have water frontage on the main body of Delavan Lake, the starting price point is $399,900 for a two-bedroom bungalow on the west end of the lake.  The property has 40 feet of muck frontage and received an accepted offer within two weeks of being listed.  The most expensive home on Delavan Lake is a five-bedroom off of North Shore that has been on and off the market for the past two years.  Listed at $2.9 million, the home sits on 410 feet of lakefront but is need of major repair and updating.

There are only 13 condos with lake access currently on the market around Delavan Lake.  This compares to 20 at this time last year.  Only two of the condo complexes have units available.  Units in the Delavan Lake Resort start at $49,900 and those in Geneva Landings start at $159,000.

Currently, the best value for a lake access property around Delavan Lake is located at 2808 Mabie Street.  This cozy two bedroom is located in the Delmar Association and includes a boat launch and swim pier.  The house has been recently remodeled, has a fenced yard and detached garage.  The asking price is $127,500.
2808 Mabie Street in the Delmar Association

With the limited lakefront properties available, the best value is located at 2804 Manor Lane.  Situated on the south side of the lake, this four-bedroom, two-story has 100 feet of level lake frontage, an open concept and plenty of yard space to enjoy the lake views.  Listed at only $799,000, the price leaves room for a new owner to update and decorate and still be below market value.
2804 Manor Lane on Delavan Lake's South Shore


The best value for lake access condos on Delavan Lake is located at 2152 Newbury in the Geneva Landings complex.  Although the unit is marketed as a one-bedroom, there is space in the lower level to add one or two additional rooms.  Listed at $187,500, it is $31,500 below similar units in the complex.
2152 Newbury Lane in the Geneva Landings complex.

Friday, September 22, 2017

Summer Heats up Sales on Delavan Lake, WI

     Just as the temperatures started to rise, the lakefront home sales on Delavan Lake, WI took off and have now created a shortage of homes to choose from.
     For the first six months of the year, there were only three sales.  Those ranged from a $307,000 foreclosure to a remodeled three-bedroom for $620,000 on the mouth of Browns Channel.
     Once the mercury started to rise, sales expanded with 13 sales from July 1 through September 22.  Four more are under contract, including one infested with mold that should be torn down and rebuilt.  Prices of these sales ranged from $240,000 for a little one bedroom to $1.9 million for the perfect lakefront layout on 125 feet of level South Shore frontage.
     The explosion in sales has left very few options for those that still want a lake home on 2,000 acre Delavan Lake.  Today, there are only 12 homes on the main body left unsold.  The best options include 2804 Manor Lane and 2724 Willow Point Drive.
     Located just off of South Shore Drive, 2804 Manor Lane is a four-bedroom two-story waiting for the next owner to remodel and redecorate to take advantage of the 100 feet of level frontage that the property enjoys.
2804 Manor Lane, Delavan Lake with 100 feet of South Shore frontage.
      A newer structure, built in 1986, the home has served as a full time residence and features a spacious lakefront deck with hot tub and expansive lake views.  The property is priced at $799,000.
     The North Shore option is 2724 Willow Point Drive.  Listed for $825,000 this classic four bedroom lakefront also has 100 feet of private frontage and has three waterfront decks.
2724 Willow Point Drive, Delavan Lake located on the North Shore.
     The master bedroom includes a lakeside balcony and sitting room.  There is a sun porch, first floor bedroom and custom Kohler fixtures.  The home is located off a a quiet private drive and showcases detailed woodwork and custom stain glass.

Saturday, July 22, 2017

Slow Start for Home Sales on Delavan Lake, WI

     The first six months of 2017 have started slow for home and condominium sales on Delavan Lake, WI.  The lack of sales seems to be partly due to tight inventory and partly due to not having the type of product available that home buyers are searching for.
     In the first half of the year, there were only 22 sales with water frontage or lake access.  This compares to 27 in the first half of 2016.  Six of the homes sold were water frontage this year, with most being on either the inlet or a channel.  Prices ranged from $93,500 for a two bedroom remodel in the Delmar Subdivision to $635,000 for a Floridian-style three bedroom walk-out ranch just off of Browns Channel.
     Sales of condos also have started slow for the year.  There were eight sales of condominiums with water access in the first half of 2017 compared to 10 in the first half of 2016.  Prices ranged from $75,000 for a two bedroom unit in the Delavan Lake Resort to $274,000 for a three bedroom unit in the Delavan Gardens complex.
     Inventory is still limited with only 62 lakefront or lake access homes available compared to 72 at this time last year.  Offerings for single family homes start at $89,900 for a two bedroom in need of repair in the Ravenswood Subdivision, at the west end of the lake, to a large estate on the north shore with five bedrooms, 5.53 acres, 410 feet of lakefront and an extensive wine cellar that is being offered for $2.9 million.
     There are 23 condos with water access compared with 24 last year.  Prices range from $59,900 for a one bedroom condo/hotel unit in the Delavan Lake Resort to $321,900 for a three bedroom, three bath model in Delavan Gardens on the north side of the lake.
     So what's the best value out there?  If you are looking for a lake access property, the best value is located at 2934 South Shore Drive.  This three bedroom, two bath home features a large first floor master suite, hardwood floors on the main level, soaring fireplace and cathedral ceiling and lake access through the Delmar Association that includes boat launch, swim pier and beach area.  The home is being offered for $239,000 and also includes a spacious two car garage.
2934 South Shore Drive, Delavan Lake, WI
Swim pier in the Delmar Subdivision, Delavan Lake, WI

     The best value for a lakefront home on Delavan is located at 2308 Lakeshore Drive.  An adorable four bedroom summer starter, this modern two-story has an open concept and lake feel that buyers are looking for.  It has 40 feet of private frontage on the South Shore including a pier, master suite with balcony and quaint covered porch overlooking the water.  Listed for $549,000 the home is ready to use and offers buyers an affordable, minimal maintenance way to enjoy the lake.
2308 Lakeshore Drive, Delavan Lake, WI
Lake views from 2308 Lakeshore Drive, Delavan Lake, WI

Thursday, June 15, 2017

Entry Point To Delavan Lakefront Homes

     Dreaming of a lakefront retreat on Delavan Lake, WI?  In order to be on the main body, the starting point is about $500,000.
     Two great offerings will give you expansive lake views, private frontage and your own pier for boats and other lake toys.
2308 Lake Shore Drive, Delavan Lake, WI 
     The first of these waterfront properties is located at 2308 Lakeshore Drive, which is located on the south shore of Delavan Lake.  Listed for only $549,000, this four-bedroom, two-bath two-story, is an update escape ready to enjoy.
     The main floor has an open floor plan with views to the water from the kitchen and great room.  A cozy covered porch is perfect for taking in the sunset and swimming is encouraged directly off the pier.
Swimming is encouraged off the pier at 2308 Lake Shore Drive
     There is a first floor bedroom along with three additional on the second level.  The two upper guest rooms both have views of the water and the master suite has a private balcony with room to relax with morning coffee or an afternoon glass of wine.
Open concept dining and living area at 2308 Lake Shore Drive, Delavan Lake, WI
     The property was created to be maintenance free with vinyl siding and a small yard area.  There is parking for four cars and a lakefront park close by that has a sandy beach and additional space for lawn games.
     The second offering is across the water and is located at 2508 North Shore Drive.
Two decks of enjoyment at 2508 North Shore Drive, Delavan Lake, WI
     More of a traditional lake home, this two-bedroom cape cod has undergone a face lift with new siding, roofing and two levels of decks.  It is priced at $555,000 and is located within walking distance to local clubs, a wine bar, and the Delavan Lake Yacht Club.
Private pier for 2508 North Shore Drive, Delavan Lake, WI
     In addition to two large upper bedrooms, the property features an enclosed front porch with sweeping views of the water and a detached garage large enough to store a boat.
     The interior features solid wood floors in the kitchen and dining area, a natural fireplace and two full bathrooms.  The great room has lake views and leads out to a large waterfront deck for entertaining.
Looking right out to the water from enclosed porch at 2508 North Shore Drive, Delavan Lake, WI
     Both properties are ready to move in and start enjoying immediately and are priced $90,000 less than anything else available on the main body of Delavan Lake.

Tuesday, May 2, 2017

This may be the perfect Delavan Lakefront Home

     When talking with home buyers about their perfect lakefront home, there are many features that are repeated over and over.  Level frontage.  First floor master suite.  Walk out lower level.  Sweeping lake views.  Open concept.  Screen porch and open deck.
     There is only one home on Delavan Lake, WI that checks all of these boxes and more.  The prize property is located at 2501 South Shore Drive and has been recently listed for $1,950,000.
2501 South Shore Drive
Click here for a tour of the perfect lakefront home.
     Placed on the center of the south shore, the panoramic views rival any on the lake.  From the great room,  you can see from the Island, to Lake Lawn and observe all the sailing activity at the Yacht Club directly across the water.
     It's grand entrance, off of South Shore Drive, is an impressive welcoming statement.  When you open the front door, you are greeted with immediate lake views, an open concept living area, walnut flooring, custom cabinetry and soaring ceilings.
First floor master suite with private balcony and cathedral ceiling.
     To the left is the first floor master suite, with dual walk-in closets, on-suite office area and private waterfront balcony.  To the right is the gourmet kitchen with screen porch off the lake side and a first floor laundry.
     Three additional bedroom suites each have lake views.  Two on the upper level are separated by a loft area with water views.  The fourth bedroom is on the lower level that walks out to the water and is located just beyond the family room area that  is attached to a patio space with hot tub and lake access.
Walk out lower level with patio and second fireplace.
     Smart design put a full bath off the lakeside for convenient swimsuit change and there is a huge storage area with outside entrance for water toy and deck furniture storage.
     Nothing is lacking from this lake home that includes a three car attached garage and an additional detached boat garage with two overhead doors that allows you to drive right through with your trailer attached.

Tuesday, April 11, 2017

Waterfront Home Values on Delavan Lake, WI

     It is the start of the lakefront selling season and many are hoping to snag a value before the start of the summer season.  The time for value is here on Delavan Lake, Wisconsin.
     Three homes on the water have recently been reduced, creating some intriguing buying opportunities.  Each seller is moving out of the area and that has led to some dramatic discounting.
     Starting off for just over $300,000 is a lake home with minimal maintenance and plenty of enjoyment potential.  Located on a main channel feeding into the lake, the home enjoys calm water regardless of how stormy it gets on the main body.  Its as though you have your own little marina right in your back yard.
4320 East Drive, Delavan Lake, WI
click here for a tour of this property
     The house sits just a few properties back from the main part of the lake with easy boat access to the wake boarding and water skiing action, yet allows you to retreat to your private space to entertain guests and family.  A two-story colonial with two first floor bedrooms, the open concept living and dining area both look out to the water and natural fireplace in the great room.  A spacious loft area on the second level leads into a third bedroom and play area.
Natural fireplace with loft overlooking the great room.
     You can find this bargain at 4320 East Drive on the south shore of Delavan Lake.
     Also located on the south side of the lake is one of the least expensive homes on the main part of
Delavan Lake.  This home, found at 2308 Lake Shore Drive, is just steps from the water and features four bedrooms and a private pier that can hold two water craft.
2308 Lake Shore, Delavan Lake, WI
click here for a tour of this property
     This property is priced at only $534,000.  The home has a Nantucket feel with white pillars on the covered porch and an expansive upper deck accessed exclusively by the master suite.  Views from this master balcony provide a relaxing setting for a morning cup of coffee or an evening glass of wine.
View from the balcony at 2308 Lake Shore
    On the main floor is a wide open floor plan with water views from all angles.  The wide plank wood floors give a cottage feel while the recent updates offer modern conveniences.  Compact and efficient, this home is comfortable for both a large family or a couple's get-a-way.
Space for entertaining at 2308 Lake Shore, Delavan Lake
     Traveling to the north side of Delavan Lake you will find the third Spring value.  This one is located at 1522 Hiawatha Drive and is the largest of the three.  Newly constructed in 2003, this three-bedroom home has vaulted ceilings, a natural fireplace and an open concept layout.  It is being sold furnished for $709,000 including furniture, kitchenware, boat lifts and private pier.
1522 Hiawatha Drive, Delavan Lake, WI
click here to tour this property
     The property has 39 feet of shoreline, an attached three-car garage and an additional lot that can be used for parking and lawn games.  Two bedrooms are located on the main floor and the second floor loft has a bedroom suite and small sitting area with lake views.
Panoramic lake views at 1522 Hiawatha Drive, Delavan Lake, WI
     If the main two levels don't have enough space, there is a full basement with the ability to add a fourth bedroom, full bath and recreation room with fireplace.
     Each of these lakefront values are being sold at a discount compared to similar properties and are ready to use and enjoy immediately.

Friday, March 31, 2017

Price Reduction on Delavan Lake waterfront home

     If you want to be directly on the water, but haven't quite gotten to the point where you can afford a million dollar property, a lake home on a channel or tributary may be a great starting point.  Delavan Lake has a number of properties on three lake access points that give the lake life opportunity for a fraction of the price of the main body.
     The three areas for Delavan are the Inlet, the Outlet, and Brown's Channel.  The water coming into Delavan Lake either comes from the Inlet, which is fed by Jackson Creek, or by Browns Channel, which is fed by Browns Creek.  The water then leave the lake through the Outlet where the Borg Road Dam is located.
     For properties on the Inlet and the Outlet, a boater has to contend with a bridge in order to get to the main body of water.  For those living on Browns Channel, it is a clear shot to the main body without a bridge to be concerned with.
4320 East Drive on Browns Channel of Delavan Lake
     An example of an affordable home on Browns Channel can be found at 4320 East Drive.  Built in 2005, this charming two-story has wood floors on the main level, a first floor master bedroom, open concept kitchen and living area and a cozy natural fireplace.
Open Concept with Natural Fireplace
     The upper level is designed with an open loft sitting area, open loft bedroom space and a traditional bedroom with full bathroom.  The loft area looks down into the great room with views of the fireplace and water frontage of Brown's Channel.
Boat lift waiting for your craft to head out to Delavan Lake.
     The advantages of this home include carefree maintenance of its cement board siding, affordable price of $309,000, and best of all... your boat just steps away from the patio.  Owners like to brag that they leave the car keys on the counter, pick up the boat keys, and head right out to the lake.
     Nestled in the safe, social community of South Shore Manor, the home also has access to a park at the end of a peninsula that jets out into the main body of Delavan Lake.  At this park you will find a beach, picnic area and a fishing pier.  If the same home was available on the main body of Delavan Lake, it would be offered for twice as much.

Tuesday, March 28, 2017

New Delavan Lake Listings Spring Up in Tight Wisconsin Real Estate Market

     Spring is here with a number of fresh listings on Delavan Lake, WI.  With inventory at historic low levels, some of the lakefront sellers are trying to retest the market after failing to sell last year.  Condo owners seem to be looking for a quick sale and are pricing at the market rate.
     The newest offerings range from a one bedroom condo to a 8,000 square foot lakefront.  If you are looking for value, choose the one bedroom.
1457 Delavan Club
     Listed for only $139,900 the one bedroom unit, in the Delavan Club, is a solid value for those that want to try the lake life without the long term commitment.  The association includes the best outdoor pool on the lake, tennis courts, pier system, boat launch and a two-story club house that has amenities found in local health clubs such as a sauna, steam room and exercise room.
2235 Landings Lane in the Geneva Landings Comples
Click here for a tour of this condo
     Moving up the condo ladder is an updated two bedroom unit in the Geneva Landings complex, which is located adjacent to Delavan Club.  The advantage for Geneva Landings is a shorter wait for a boat slip (about one year instead of seven) and a bit more of an architectural appeal for the buildings.  The condo, selling for $234,900 has a main floor master suite and a spiral staircase up to a loft that holds a second bedroom and full bathroom.  The Geneva Landings complex also has a pool and exercise room but lacks tennis courts and locker rooms.
     Two new lakefronts also have come to the market.  Both have been listed previously with neither receiving offers due to serious defects in design and quality of the homes.
2582 North Shore Drive
     The first is located at 2582 North Shore Drive.  Also known affectionately as "Concrete Point" the property contains a quaint Victorian in need of a number of repairs.  The house is slipped into an irregular lot along a shared driveway but has panoramic lake views and a seawall that includes a concrete patio at the point - hence the name.  The property will be a major project for someone who falls in love with the architecture and has the time, energy and money to restore it to its grandeur.  Previously listed at $799,000 the property has now been reduced to $725,000.
2938 North Shore Drive
    The most recent lakefront to hit the market is a convoluted number of additions put together with limited planning or design.  The home is located at 2938 North Shore Drive and is listed for an incredible $2.9 million.  Featuring a steep, wooded slope that most home buyers avoid, the home is over 8,000 square feet of a maintenance project with rotted wood and dated interior.  The tiny kitchen is sandwiched in the middle of the home and in need of some remodeling.  Better values can be found for a million dollars less.

Saturday, January 21, 2017

It's All About the Water

     What makes one four-bedroom lakefront home worth more than another four-bedroom lakefront home?  If they are relatively the same age and about the same size?
     For Delavan Lake homes, it is all about the water.
     The premium priced homes on Delavan Lake have three important features.  First, they are on the main body.  The main body is the large part of the lake in contrast to the Inlet, Outlet or a channel.
Second, the properties are located in the middle of either North Shore or South Shore.  The middle part of the main body is where the best water is located.  What do we mean by the best water?  This is where the lake bottom is made up of sand and rock.  With a sand or rock bottom, the water clarity is better, there is less vegetation and deeper water for boating and water sports.
A lake bottom of rock and sand creates the best boating and swimming experience
     The third characteristic of the higher priced lots is that they will have level frontage.  The most desirable frontage of all is walk in frontage.  A piece of property that you can walk right into the water without traveling down any steps to get there.  Since this is rare around Delavan Lake, a few steps are fine, but if you become winded by the time you get to the dock, the property will be discounted accordingly.
     There are two great examples of properties currently available with prime lake frontage.  The first is located at 1601 Cedar Point Drive on the North Shore.  This property includes 94 feet of frontage and two piers.  It is located in the center of the lake with close proximity to the Delavan Lake Yacht Club.  The water in front of the property is some of the clearest around the lake and the views from the first floor master bedroom allow the owner to enjoy summer sailboat races as the yachts tack across their course.
View of sailboat race from 1601 Cedar Point Drive, Delavan Lake, WI
Lakefront deck off of the boat house at 1601 Cedar Point Drive, Delavan Lake, WI
Tour the property by clicking here.
     The second listed property with excellent frontage is located at 2027 South Shore Drive.  Clearly visible from the shores of the Yacht Club, this lakefront estate rests on the opposite side of the lake and has the unique trait of being able to see the entire lake from the lakefront balcony.  A sprawling English Tudor, this recently remodeled home has 125 feet of the elusive walk-in frontage and is excellent water quality for swimming, splashing, and sailing.
The prime center-lake location of 2027 South Shore Drive, Delavan Lake, WI make it a top location.
Click here to take a tour of this property.

Wednesday, January 11, 2017

Prices higher. Inventory lower on Delavan Lake, WI

     The results are in for Delavan Lake, WI home sales in 2016.  The overall summary is that prices were up and the number of homes for sale is down.  The tight inventory is continuing to put pressure on prices as multiple offers on the same properties have put some houses in a bidding war.

     More specifically, for all of 2016, there were 10 homes sold with water frontage compared to 17 in 2015.  On the main body of Delavan Lake, there were only 8 homes sold in 2016 compared to 13 the previous year.  This is the fewest number sold in the past five years and is mainly due to the number available for people to choose from.
     As a result of the limited supply, the prices increased over the prior year on both ends of the spectrum.  The lowest price for a home on the main body of Delavan Lake in 2016 was $460,000 for a three bedroom two-story set on 50 feet of South Shore frontage.  The modest property is scheduled to undergo immediate remodeling by the new owner.
     The most expensive sale in 2016 was also located on the South Shore.  Selling for $2,800,000 late in the year was a prairie-style lakefront estate on 3.71 acres, 200 feet of frontage that included multiple garages and a boat house.  The 10,000 square foot home was constructed as a family retreat and included six bedrooms (five of them suites), a billiard room, salon, theater room, and five fireplaces.
Main entrance to 3307 South Shore Drive, sold for $2.8 million in 2016.
     Homes with lake access also saw an increase in prices as 52 were sold last year compared to 37 in 2015.  Prices ranged from $52,500 for a modest three bedroom cottage in the Delmar Subdivision to $699,999 for an overpriced six bedroom located on Willow Point.  The Willow Point home sold for over $300,000 more than assessed value and more than many of the lakefront homes last year.  It was a poor value but will help push prices up around the lake.

     Condo sales and prices both were higher in 2016.  Lake access condominiums had 19 sales compared to 15 the prior year.  Prices ranged from $54,000 for a condo/hotel room to $276,000 for a three-bedroom, two-bath, Garden unit in the Geneva Landings complex.  These prices were $11,000 and $31,000 higher than similar units that sold the previous year.

     The beginning of 2017 has the fewest amount of homes for sale with lake access or lake frontage than in the past five years.  There are only 37 homes on the market compared to 53 at this time last year.  Prices for lake access homes start at $129,000 for a remodeled two bedroom with lake views off of South Shore and increase to $459,000 for a four-bedroom two-story just three doors down.  Both are across the street from the lake and are part of the Delmar Subdivision.  One is listed for almost $200,000 more than the assessed value.  Guess which one.
     You can purchase a lakefront home on the Delavan Inlet for $299,000.  This is where lakefront properties start out this year.  For that price, you can get a two-bedroom, two-bath ranch on 50 feet of level frontage that has its own dock and single car garage.  Nicely updated, the home has a large great room for entertaining and s lakefront deck to view the seasonal activities.
230 Inlet Shore Drive, listed for $299,000
     The most expensive lakefront currently available is listed at $1,750,000.  Set on one of the best locations on South Shore, the property has level, walk-in frontage and views of the entire lake.  The remodeled English Tudor has 125 feet of frontage, five bedrooms, five baths, a solarium, two dining rooms, hardwood floors, and an incredibly gourmet kitchen with Viking appliances and granite counters.

     There is also a shortage of condominiums with lake access on the market right now.  Only 11 are currently being offered compared to 14 at the start of last year.  Prices start at $73,000 for a two-bedroom, two-bath condo/hotel and increase to $329,000 for a three-bedroom, three-bath unit in the Delavan Gardens that includes a private boat slip and association boat launch.

     The best value for a lake access property is located at 2508 South Shore Drive.  This remodeled two-bedroom is the lowest price offering and is an attractive get-away with wood floors and a spacious two-car garage for storage.  The home has access to a beach, boat launch and two association parks and is listed for $129,000.
Best value lake access home located at 2508 South Shore Drive
     The best value lakefront home on Delavan is located at 4423 Robbins Road, just off of South Shore Drive.  This Floridian-style walk-out ranch, has three bedrooms, including a first floor master suite with gas fireplace, jetted tub and private waterfront screen porch.  The home is listed for $699,000 and has 83 feet of lakefront, a private dock and tandem two-car garage.
Best value lakefront located at 4423 Robbins Road
     Cost conscious condo customers can find a bargain at 2191 Newbury Lane in the Geneva Landings complex.  Listed for $179,900 the unit features three bedrooms, two baths an attached garage and walk-out lower level.  As part of Geneva Landings, the unit has access to an outdoor pool, fitness room and a short waiting list for a boat slip.