January 23, 2009

The Next Best Thing to a Lakefront

Posted to Delavan

If you don’t have several million dollars handy to purchase a lakefront home, but like being near to or having a water view, having access to a private beach, or even having your own boat slip, don’t give up…a lake access home may be perfect for you. Most lakes in Walworth County offer homes in private home owners’ associations with shared lake access, be it via ten feet of frontage or through larger lakefront parks. Lake access associations can be as small as 5-10 homes, or as big as over 100 homes. Usually there is an elected Board of Directors, and yearly costs and dues are voted on at annual meetings. The dues support the costs of the shared lakefront: lawn maintenance, pier in/out and repairs, real estate taxes for the frontage, insurance, lifeguards for the swim pier, if any, etc.

Because the DNR regulates and restricts the number of piers and boat slips on our lakes, there are usually not enough slips for all the home owners with boats. In that case, you can put your name on a waiting list for the next available slip, which is determined by how soon someone moves. Traditionally once you get a slip you can keep it until you sell and move; once you move, the new owner moves to the bottom of the waiting list. Some associations are lucky enough to have a slip for every home owner; in the event of a sale, the slip transfers with the home. This is known as a ‘deeded’ or ‘transferable’ boat slip, and adds significant value to any home. While waiting for a boat slip, other temporary avenues are to rent a municipal buoy or place your boat in an in/out storage arrangement with a local marina. If you’re not a boater, just enjoy your shared lake frontage with a good book and some sun tan oil or marvel over some drop dead sunsets.

One of the best arrangements is to find an available home with an unimpeded lake view that sits on the association’s lakefront park. It looks just like a lakefront home, but since the land between the home and the lake is association land, you don’t pay lakefront taxes….a huge benefit! A good example of a lake access home association (and one of my favorites) is Windtree on Lake Delavan. Twelve homes wind down wooded, private Windtree Lane to a spacious lakefront park. Windtree offers a permanent boat slip for each owner on its association pier just off the park. Homes are priced from $425,000 fully furnished with a boat (see my listing here) to $800,000+.

At the time of this writing I searched four of our major lakes in Walworth County for listed lake access properties, and there were 196 of them priced from $85,000 to $1,600,000. For more information on these properties, visit my website at www.sartonproperties.com or email me at jsarton@keeferealestate.com. With such large inventories begging to be purchased at rock bottom prices and interest rates, now may be the time to treat yourself to a lake get-away!

Posted By: Julie Sarton



January 18, 2009

Delavan, WI Ice Fishing

Posted to Delavan

The Delavan Lake area is no longer just a summer destination. Many activities all year draw people to the Delavan, and entire Walworth County Area. With temperatures way below zero, many think this is bad weather, but I heard on the news this morning, there is no such thing as bad weather if you have the right gear. So with that in mind, bundle up and head out and enjoy. I will try to keep an open mind! Ice Fishing is very poplar on Delavan Lake, ok, so if I understand this right, the sport of ice fishing……day off work, haul ice fishing equipment out to Delavan Lake, unpack the truck and head over to ice fishing shanty. I have never seen the inside of a shanty, but I have to admit I am curious. Then, it is time to drill a hole in the ice of Delavan Lake, drop your line in and wait for the big one to swim by! I have explained this to friends that live in warm weather climates, and they think I am joking. It’s no joke, Delavan Lake is a great ice fishing lake. Come and give it a try!

Posted By: Karen Pearce



January 09, 2009

Delavan Lakefront 2008 Summary

Posted to Delavan

Sales of Lakefront and Lake Access Property on Delavan was substantially depressed in 2008 as the general economy and housing slowdown filtered into our area.

HOME SALES
For the entire year, there were 11 lakefront properties sold ranging from a three-bedroom cottage on the Inlet to a five-bedroom show-piece on South Shore Drive. The Inlet property was a bank foreclosure and sold for $164,000 and the South Shore Drive property was newly constructed and sold for $2,180,000. There were also 22 lake access properties that sold in 2008 with the least expensive being a two-bedroom cottage in Delmar Subdivision that sold for $60,700.

CONDO SALES
The lake access condominium market was equally slow for Delavan. There were a total of 17 sales of condos with lake access on Delavan for 2008. The sales ranged from a one-bedroom condo/hotel unit for $108,500 to a three-bedroom condo with a pier and boat slip for $415,000.

CURRENT MARKET HOMES
There remains 75 single family homes on the market with lakefront or lake access on Delavan Lake. The lake access properties start at $90,000 for a small two-bedroom cottage. Lakefront homes start at $299,000 for a three-bedroom home on Delavan Inlet and progress to $3,500,000 for a lakefront estate on South Shore Drive.

CURRENT MARKET CONDOS
In the condo arena, there are 79 units still available with lake access on Delavan. The properties range from a $95,000 one-bedroom condo/hotel to $750,000 for a newly constructed two-bedroom suite.



BEST VALUE LAKE ACCESS The best value for a lake access property on Delavan is located at 4325 East Drive. Listed at $164,900, this remodeled two-bedroom home has a swim pier, one-car garage, boat launch, park, and beach area. It is ready to move in and enjoy.

BEST VALUE LAKEFRONT The best value for a Delavan lakefront is located at 1824 North Shore Drive. This five-bedroom, 2.5 bath home has 60 feet of lakefront, a private pier, third floor recreation room and a 2.5 car garage for toy storage. Listed at $1,150,000, this home is $200,000 less than its closest competition.

Posted By: Ryan Simons