November 05, 2009

Serious Buyers Pick up Delavan Lakefront Deals

Posted to Delavan

Now that we are late in the year, we are seeing value hunters finding great deals on Delavan lakefront properties. The three most recent sales attest to this being a rewarding time for persistent buyers.

The first of these sales, a large lakefront parcel with 203 feet of lakefront and 2.6 acres of land is a prime example. This property, which has an older six-bedroom house, was originally listed at $1,995,000 and sold at the end of September for $1,100,000. Shocking considering the rule of thumb for Delavan lakefront was thought to hover around $10,000 per linear foot.

The second example is a four-bedroom home with a walk out lower level situated on 87 feet of frontage. The home had been on the market since February 2007 with a starting price of $995,000. A price point that was not unreasonable at the time. After over two years on the market, the property finally sold for $550,000 at the end of October.

Finally, we have a sale of what was the lowest priced true lakefront on Delavan. With three bedrooms and 40 feet of frontage, this summer home started on the market in September 2006 for a price of $549,900. It was finally sold last week for only $310,000.

With the $310,000 deal now gone, the cheapest you can get on Delavan Lake is now $775,000 for a remodeled three-bedroom on 60 feet of Delavan lakefront.

Posted by:Ryan Simons

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