January 20, 2010

Delavan Lake 2009 Update

Posted to Delavan, Ryan Simons

2009 sales of Lakefront and Lake Access Property on Delavan were similar to 2008 levels but down from the sales pace of 2007.

HOME SALES
For the full year, there were 11 lakefront properties sold and 24 lake access properties sold. The least expensive lakefront sale was a $280,000 three-bedroom home on the Delavan Inlet while the most expensive sale was a $2,420,000 estate on South Shore Drive. The lake access properties ranged from a $38,000 foreclosed cottage to a $395,000 four-bedroom home in Assembly Park. Last year, there were 12 lakefronts sold and 22 lake access properties sold. In 2007 there were 22 lakefront sales.

CONDO SALES
The Delavan Lake condominium fared much worse. There were only been six sales compared to 17 last year. The sales range from a $91,000 condo/hotel unit on South Shore Drive to a 2-bedroom unit on the Delavan Outlet for $259,000.

CURRENT MARKET HOMES
There are 69 single family homes on the market with lakefront or lake access on Delavan Lake. This is down from 75 at the beginning of last year. The lake access properties start at $60,000 for a two-bedroom cottage and increase to $600,000 for a four bedroom home with lake views and a swim pier. Lakefront homes start at $339,000 for a three-bedroom home on the Delavan Inlet and progress to $2,200,000 for a six-bedroom, six-bath home on South Shore Drive.

CURRENT MARKET CONDOS
In the condo arena, there are 50 units still available with lake access on Delavan. This is down from 79 at the beginning of last year. The drop is a result of listings being taken off of the market without a sale. The properties range from a $75,000 one-bedroom condo/hotel to $379,000 for a three bedroom unit on North Shore with a boat slip and 2-car garage.

BEST VALUE LAKE ACCESS
The best value for a lake access property on Delavan is a 3-bedroom ranch located in off of South Shore. Listed at $128,500, this three-bedroom home has a boat slip and a two car garage.

BEST VALUE LAKEFRONT
The best value for a Delavan lakefront is a five-bedroom, three-bath lakefront on 60 feet of level frontage. The home features a large front yard, spectacular views, a new kitchen and an oversized pier. Listed at $995,000, this home was originally on the market for $1,150,000.

BEST VALUE WATERFRONT
The best waterfront value is a completely remodeled 3-bedroom with a 2.5 car garage on 75 feet of frontage on the Inlet for $339,000.

Posted by:Ryan Simons



December 14, 2009

Delavan Lakefront Property: Time to Buy

Posted to Delavan, Ryan Simons

You may not think that winter is a good time to purchase a Delavan Lakefront property, but history will prove otherwise.

Over the last two years, there have been 23 Delavan Lakefront properties sold. Of these sales, nine were purchased between October and March. This is almost 40% of the sales. It may be cold outside, but it’s a hot time for buying Delavan Lakefront property.

And what is the best buy on the lake right now? The least expensive Delavan Lakefront is a $339,000, remodeled three-bedroom home with a full basement and two full bathrooms. The home has a natural fireplace, open concept kitchen, window seats in the kitchen and great room, and sits on 75 feet of picturesque Delavan Inlet frontage.

Posted by:Ryan Simons



November 05, 2009

Serious Buyers Pick up Delavan Lakefront Deals

Posted to Delavan, Ryan Simons

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



October 16, 2009

Three Year Delavan Lakefront Comparison

Posted to Delavan, Ryan Simons

Year-to-year, sales of Delavan lakefront properties don’t seem too bad when we only compare 2009 to 2008.

Sales for the first nine months of 2009 were seven units compared to nine units for 2008. But go back one more year, and we see that sales in 2007 were 19 units for the first nine months, more than the next two years combined.

How does this compare in dollars?

For 2009, we have total Delavan Lakefront sales of $7,575,000.
For 2008, we had a total of $6,786,900 in sales for.
But for 2007, the total sales were $19,687,680.
Again, more than the next two years combined.

Posted by:Ryan Simons



October 05, 2009

Delavan Lake 3rd Quarter Update

Posted to Delavan, Geneva Lake Area , Ryan Simons

Sales of Lakefront and Lake Access Property on Delavan Lake continue to struggle in 2009 with sales limping along and prices continuing to fall.

HOME SALES

For the nine months of the year, there have been seven lakefront properties sold and 19 lake access properties sold. The least expensive lakefront sale was a $280,000 three-bedroom home on the Delavan Inlet while the most expensive sale was a $2,420,000 estate on South Shore Drive. The lake access properties ranged from a $38,000 foreclosed cottage to a $395,000 four-bedroom home in Assembly Park. Last year at this time, there were nine lakefronts sold and 19 lake access properties sold.

CONDO SALES

The Delavan Lake condominium market is even more depressed. There have only been five sales compared to 14 by this time last year. The sales range from a $91,000 condo/hotel unit on South Shore Drive to a 2-bedroom unit on the Delavan Outlet for $259,000.

CURRENT MARKET HOMES

There remain 91 single family homes on the market with lakefront or lake access on Delavan Lake. This is up from 75 at the beginning of the year, but down from 95 at the end of last quarter. The lake access properties start at $70,000 for a two-bedroom cottage and increase to $600,000 for a four bedroom home with lake views and a swim pier. Lakefront homes start at $349,000 for a three-bedroom home on the Delavan Inlet and progress to $2,499,900 for a six-bedroom, five-bath home on North Shore Drive.

CURRENT MARKET CONDOS

In the condo arena, there are 55 units still available with lake access on Delavan. This is down from 79 at the beginning of the year and 86 at the end of last quarter. The drop is a result of listings being taken off of the market without a sale. The properties range from a $95,000 one-bedroom condo/hotel to $750,000 for a yet-to-be-constructed two-bedroom suite.

BEST VALUE LAKE ACCESS

The best value for a lake access property on Delavan is a 3-bedroom ranch located in off of South Shore. Listed at $114,900, this three-bedroom home has been remodeled with a new kitchen and includes a swim pier and boat launch.


BEST VALUE LAKEFRONT

The best value for a Delavan lakefront is a four-bedroom, two-bath lakefront on 50 feet of level frontage. The home features a large front yard, spectacular views and an oversized pier. Listed at $699,999, this home was originally on the market for $849,000.

Posted by:Ryan Simons



September 17, 2009

Delavan Lakefront Price Support Broken

Posted to Delavan, Ryan Simons

Two years ago, it used to be that the rule of thumb for pricing on Delavan Lake was $13,000 per foot of lakefront. This was reasonably based on the sale of a vacant lot on South Shore Drive for $1,300,000 that had 100 feet. Similar sales were also cited.

Over the last two years, we have seen a steady decline to this rule of thumb. There is a vacant parcel now on South Shore with 100 feet available for $999,900 and a recent reduction has thrown the ruler, out the window.

A lakefront estate, granted an older lakefront estate, with 203’ of level frontage has been reduced from $1,995,000 to $1,195,000. The property sports a six-bedroom house, 2.6 acres and a boathouse with magnificent views. Within days of the reduction, the home received an accepted offer.

Are we near the bottom? I believe so. Demand for other Delavan Lakefront homes is picking up. Other offers are being written, and the most recent sale… $1,500,000 for a five-bedroom estate with an in-ground swimming pool and 100 feet of frontage.

Posted by:Ryan Simons



August 24, 2009

Delavan Lake Area Construction Begins

Posted to Delavan, Ryan Simons

Construction between North Shore Drive and South Shore Drive of Delavan Lake began today. State Highway 50, which connects the north and south part of the lake, has begun a repaving project.

The project will start with the milling off of the surface of the road. This step is scheduled to finish up on September 4, 2009.

The paving is scheduled to start on September 8, 2009 and finish September 18, 2009.

The other parts of the project include bridge deck paving, striping, curb repair and signal work.

The project is set to be complete October 7, 2009. The road will remain open, but there will be delays traveling along this route.

Posted by:Ryan Simons



August 18, 2009

Entering Delavan Lake Watershed

Posted to Delavan, Geneva Lake Area , Janet Giovannetti

You may have seen these signs if you’ve driven near Delavan Lake. They mark the efforts of the Delavan Lake Improvement Association, Delavan Lake Sanitary District, and the Kettle Moraine Land Trust to indicate the area where water begins to find its way to Delavan Lake. Why is this important?

  1. Because Delavan Lake is what the Department of Natural Resources terms a “drainage lake”, with an inlet and outlet, so that underground water patterns and above-ground runoff have a crucial effect on the quality of the lake. And,

  2. Because a healthy lake is good for the environment and for the economy of the Delavan area.

Initially, the organizations will identify the most crucial areas, such as creeks and streams which drain into the lake. The Kettle Moraine Land Trust is working with landowners to place conservation easements on their property in order to maintain open space and encourage healthy lake practices. And the three groups will continue to educate the public about the importance of a healthy watershed. As association member Marilee Host has said, “Our goal is for people to become aware that what they do in their everyday lives within the watershed will impact Delavan Lake.”

Be kind to your lake!

Posted by:Janet Giovannetti



August 10, 2009

Looking to buy a lake home? Here's some information on Wisconsin lake living

Posted to Delavan, Geneva Lake Area , Mike Pfammatter

I recently received this question from a prospective lake home buyer.

“Thanks for sending the information. We are in the process of looking these over and I’m sure we will have some questions for you soon. One thing I was trying to figure out is how to get more comfortable with differentiating the quality of the lakes and amenities (private access to sandy beach, very swimmable, community pier, etc…). How would you rate the following lakes.

Delavan, Geneva, Beulah, Twin Lakes, & Lauderdale Lakes

If you can give me your opinion on how you would rate them, that would help us in our prioritization.”

This was my reply:

What a great question! The answer relies on how you feel on a number of variables. I think more important than how I would rate them, is where they fall for you. Let me share some thoughts on this with you.

Here are the main criteria to me - in what I consider some order of importance:

  • Size - surface area, depth
  • Clarity of water and bottom make up - how “swimmable” is it?
  • Proximity to where you live
  • Amenities, shopping, & dining in the area
  • Affordability
  • Peace and quiet factor

Geneva Lake (5500 acres, 135 ft deep, very clear and gravel bottom) is the jewel of the area. It wins hands down in the size, swim-ability, and amenity areas. The property is more expensive here than any of the other lakes. It ranks in the upper half for proximity, and in the lower half for peace and quiet.

Delavan (2200 acres, 65 ft deep, medium clarity, natural bottom) is also a reasonable distance for most, and much more affordable. It’s still a nice large body of water, but it is the least swimmable of the group, and the housing is more dense than most other lakes.

The other three lakes are all between 450 and 900 acres. All of them rate between Geneva and Delavan for clarity and swim-ability. They have mixed bottoms, but most areas are sand or gravel. They are all good swimming lakes.

Beulah and Lauderdale have by far the lease dense housing, they are both more out in the county, but further to drive to. The prices are good when compared to properties on the other 3 lakes, but tend to start at a higher price point.

Twin Lakes, being the closest to the Chicago urban area is an easy drive for most, has a wide range of price and quality, and still has very enjoyable water. Density is as high here as any of the lakes you mentioned.

For me and my family it’s all about the water, and we really like the restaurants and fun in downtown Lake Geneva. I have had a modest home in an association with private lake rights on Geneva Lake for a long time, and I don’t ever think about moving.

If I were choosing now, I would ask myself where my priorities lie and rank the lakes that way. I bet you won’t be disappointed with a home near any one of these lakes, and would even suggest you consider some of the great other smaller lakes like Powers & Whitewater.

If you pick a few homes on each lake I will be happy to show you around all of them. Most people know which lake is right for them when they see it.


Posted by:Mike Pfammatter



July 07, 2009

Delavan Lake 2nd Quarter Summary

Posted to Area Attractions & Events, Delavan, Geneva Lake Area , Ryan Simons

Sales of Lakefront and Lake Access Property on Delavan have picked up slightly from the first quarter but remain depressed from last year’s levels.

HOME SALES

For the first half of the year, there have been four lakefront properties sold and 11 lake access properties sold. The least expensive lakefront sale was a $319,000 three-bedroom home on the Delavan Inlet while the most expensive sale was a $2,420,000 estate on South Shore Drive. The lake access properties ranged from a $75,000 cottage to a $395,000 four-bedroom home in Assembly Park. Last year at this time, there were five lakefronts sold and 10 lake access properties sold.

BEST VALUE LAKE ACCESS

The best value for a lake access property on Delavan is located at 2807 Darlington Street. Listed at $139,000, this two-bedroom home has a swim pier, boat launch, two car garage, and comes furnished.

CONDO SALES

The Delavan Lake condominium market continues to struggle this year. There has only been one sale compared to 11 by this time last year. The only sale is a $91,000 condo/hotel unit on South Shore Drive.

CURRENT MARKET HOMES

There remain 95 single family homes on the market with lakefront or lake access on Delavan Lake. This is up from 75 at the beginning of the year. The lake access properties start at $42,900 for a small two-bedroom cottage and increase to $600,000 for a four bedroom home with lake views and a swim pier. Lakefront homes start at $399,000 for a three-bedroom home on Lake Shore Drive and progress to $2,699,900 for a six-bedroom, six-bath home on South Shore Drive.

BEST VALUE LAKEFRONT

The best value for a Delavan lakefront is located at 2702 Willow Point Drive. This 5-bedroom, 5.5 bath home has 125 feet of lakefront, a private pier, 3 car garage and a spectacular 2-story boat house for entertaining and relaxing. Listed at $1,490,000, this home was originally on the market for $2,100,000 and is on one of the best parts of the lake.

CURRENT MARKET CONDOS

In the condo arena, there are 86 units still available with lake access on Delavan. This is up from 79 at the beginning of the year. The properties range from a $95,000 one-bedroom condo/hotel to $1,880,000 for a yet-to-be-constructed three-bedroom suite.

Posted by:Ryan Simons



July 02, 2009

Delavan Lakefront Gets More Affordable

Posted to Delavan, Ryan Simons

The price point to get a property on Delavan Lake just broke through the $400,000 mark. With forty feet of lakefront, this three bedroom cottage located on South Lakeshore Drive now allows vacation home seekers an affordable option at only $399,000.

With new construction, you are forced to stay 75 feet from the water’s edge. Not with this gem, however. The lake is within 40 feet of the front door while a private seawall protects you from waves and wind.

In addition to having a private pier, the house also belongs to an association that boasts a lakefront park with a swim pier, beach, and picnic area.

A great investment and a great get-away on Delavan Lake.


Posted by:Ryan Simons



June 19, 2009

Town of Delavan Fireworks Celebration

Posted to Delavan, Ryan Simons

The Town of Delavan will be holding their 4th of July Celebrations on July 3rd this year.

Events will start at 4:00 pm with food and beverages at the Delavan Lakefront Town Park located at the corner of Hwy 50 and South Shore Drive.

Featured entertainment will be the Dave Marshall Band. The Band is scheduled to play from 7pm to 11 pm.

Fireworks will be displayed over the lake for everyone’s enjoyment. The fireworks are scheduled to start at 9:30 pm. They can be seen by boat or on the park grounds.

Posted by:Ryan Simons



May 26, 2009

Sales Jump Start the Delavan Lake Market

Posted to Delavan, Ryan Simons

Two homes, with sales prices of over a million dollars, have given new life to the Delavan lakefront market. Coming on consecutive Fridays, the first listing closed on May 15 at $1,295,000 and the second on May 22 for $2,420,000.

The first sale, a newly constructed five-bedroom, with towering windows, wood floors and Italian influences closed at 90% of its original asking price. The nearly one-acre lot featured two separate garage structures, a walk-out lower level and a gourmet kitchen.

The second sale, situated on over five acres of private lakefront and 266 feet of shoreline, closed at only 70 percent of its initial asking price of $3,500,000. Compare the $2,420,000 sale price to the $2,180,000 a newly constructed five-bedroom sold for last year on only 75 feet of frontage. The comparison exemplifies the significant reductions such homes are facing in a slower economy.

The sales leave 21 lakefronts available on Delavan Lake listed at $1,000,000 or more. Many of these still need major price adjustments to the downside before they are properly priced for today’s market.

Posted by:Ryan Simons



May 26, 2009

Disappointing List Price May Mean a Faster Sale

Posted to Delavan, Janis Hartley

Two weeks ago I met with a couple who are thinking about listing their Delavan home. We “clicked” quickly and as we discussed the market, they assured me they knew the market wasn’t as strong as it had been. I went to the listing appointment well prepared; I knew the average days on market for similarly priced properties, I knew what had sold in the previous 12 months, I knew their competition – what was and wasn’t priced to sell in the current market, I knew enough statistics to thrill an actuary. Their home has a lovely location and nice space; but it hasn’t been updated and one of the competing properties is an adorable, turn-key home with great lake rights that is priced extremely well. They asked if I had seen a neighboring property new on the market and, since I had not, I assured them I would not only visit that home but all of their direct competition before making a final price suggestion.

During my follow up appointment we had the “price discussion”. I knew they wouldn’t be happy with my suggestion – it was easily $50,000 less than their lowest price expectation. But here’s the problem: I’m a highly competent professional with experience throughout Walworth County and I know the market and I know it won’t support their price. I’d love to work with this charming and gracious couple, and I know I could sell their house, but as I told them yesterday, “I’d rather disappoint you now than let you down later.” It’s my job to make the tough calls. Ultimately, the market value of a property is what a ready, willing, and able buyer pays for it and the four properties in their neighborhood that haven’t sold tell me the ready, willing and able buyers are not paying the prices that are being asked. The lesson in this story? If you’re going to list your home, don’t sign with the agent who tells you what you want to hear; list with the one who delivers a clear, consistent and realistic message. In the end, you’ll be placing a “SOLD” sign in your yard while your neighbors continue to whine about the weak market. From Delavan Lake to Powers Lake and all the places in-between, I’m always willing to talk to sellers who are ready to dig in and get the job done! Give me a call.


Posted by:Janis Hartley



May 25, 2009

Start of Summer in the Delavan Lake Area

Posted to Delavan, Karen Pearce

It’s official! The start of summer in the Delavan Lake Area!! There is so much to do….and so little time! This weekend it’s amazing how many Memorial Day Parades there will be to honor those who have served our Great Country!

While to some it was simply the old rule of thumb that we can start wearing our white shoes and purses again. But we know that it is so much more than that. Memorial Day weekend the start to Summer in Walworth County, I have been awarded the opportunity to work with many buyers over the years, I have had the privilege of hearing so many great stories of your childhoods growing up around the Lake. Sharing your memories of your “Lake Home” or “cottage” I see so many similarities, it’s not about the fancy boat, or a big house, I hear over and over about the friendships made, time spent with siblings and cousins and how many people you could sleep in one house, and the big cookouts. Today’s buyers looking for a place in Walworth County, say they are looking for the same things for their kids. Get the kids out of the house, away from the TV, video games, computers, texting and cell phones and junk food! There are several great places to rent boats, grab one for half a day and pull the kids around on a tube, (they will sleep really good after that). Go fishing off one of the piers, or take a special friend and have a picnic by the Lake Front or spend a couple hours enjoying the “Music in the Park” at Phoenix Park Band shell in Delavan. I have sponsored two great bands for this summer. Don’t let this summer slip by without doing some great activities and making memories with your friends and loved ones.

Posted By: Karen Pearce