December 16, 2010

Lake Geneva, WI Sales Show Foreclosures Don't Determine the Market

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From January 1st to December 15th of 2010, sales of single family homes in Lake Geneva Wisconsin strongly indicate that while foreclosures will affect the average sale price statistics, they did not have a strong impact in overall sales. There were 7 sales under $100,000 and all were either foreclosures, short sales or estate sales – situations that typically result in a lower sales price. Three times more homes sold between $100,000-$200,000 (a total of 22) and only 3 of these were foreclosures – a proportionate decrease of 87% per cent over the lower price range. Between $200,000-$300,000, 14 homes sold and only one was a foreclosure and of the remaining sales, all above $300,000 not one was a foreclosure.

What does this mean for buyers? Contrary to market reports in other parts of the country, it’s difficult to “steal” a deal in beautiful Lake Geneva, Wisconsin. Buyers should therefore focus on discovering the location and the property that best suits their needs and buying for long-term value. To receive up to date listings as they come on the market, visit www.GenevaLakeRealty.com.

Posted by:  Janis Hartley

Tagged With: estate sales, foreclosures, homebuyers, janis hartley, lake geneva, sales statistics and short sales