December 27, 2010

Is the Scary Ride Over? Now is the Time to Buy Your Second Home In, On, or Around Lake Geneva Wisconsin

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Depending upon predictions can be as nerve-wracking as ignoring them. Think of the thousands who ignored the forecasts of real estate doom in 2005-2006 by economists Nouriel Roubini and John Paulson. Using different perspectives, Paulson, a highly successive hedge fund operator and Roubini, an economics professor, predicted the housing collapse, detailing the painful downturn that would result as borrowers defaulted on their mortgages. Both men recently purchased substantial, multi-million dollar properties, a sign many believe signals the flattening (the “bottom”) of real estate prices. When he was interviewed, Paulson’s advice was succinct, “If you don’t own a home, buy one. If you own a home, buy another one…” While different regions react at different times, savvy buyers won’t wait too long before taking Paulson’s advice.

The Lake Geneva lakefront real estate market has seen more than a 70% increase in lakefront sales over 2009, surely as sign that as highly coveted waterfront properties become more accessible, buyers are willing to come to the closing table. For those hoping to buy on the downturn, 2011 may well be the year to do so. Whether it’s a Lake Geneva lakefront estate, a lake association with pier rights, a charming cottage on Lake Beulah in East Troy Wisconsin, or a ski chalet on the Twin Lakes, just over the Illinois/Wisconsin border, buyers would be wise to take the actions of Roubini and Paulson as a telltale sign that if we’re hitting the bottom, now is the time to get in the boat! For updates on the Lake Geneva real estate market visit my website and to keep in touch with what’s happening in and around the Geneva Lakes area “friend” me on Facebook.


Posted by:  Janis Hartley

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