February 23, 2009

Just What Does a Million Dollars Buy?

Posted to Delavan, Ryan Simons

With the stock market plummeting and the real estate market in a bit of a dip, many of you are wondering, “Just what does a million dollars buy any more?”

Well, to quench your curiosity, here is a quick run down as it relates to the Delavan Lake market.

  1. A vacant parcel with 100 feet of lakefront on South Shore Drive. Currently listed at $1,099,000 this property is a prime new construction location.
  2. A five-bedroom summer cottage on 75 feet of lakefront also on South Shore Drive. Wood floors, and screened in porch are featured here.
  3. An older lakefront on North Shore Drive with 1.24 acres of wooded seclusion and 50 feet of lake front. Needs a bit of work, but worth a look.
  4. A recently remodeled five bedroom home in South Shore Drive with 50 feet of frontage. Ready to move in and enjoy.
  5. My personal favorite: The two-for-one special. A three bedroom on South Shore and a three bedroom on North Shore. Small yards, close to the water and easy to maintain. Both are listed for around $500,000 each and the combo price of $1,000,0000 includes a new boat to shuttle you between the two piers.

    6. Value abounds and summer will soon be upon us.

    Posted By: Ryan Simons



February 03, 2009

Poison Lake Rights

Posted to Geneva Lake Area , Ryan Simons

When you have a lakefront home, there is little question in regards to the access that you have on the water. Simply walk out to your dock and enjoy. But so many other properties are advertised as “lake access” or “lake rights” and the definition of these terms are often misleading. Here are three major categories.

  1. Boat slip or buoy. This is the most valuable version of lake rights. If a property has a deeded boat slip or buoy, the value is greatly enhanced. Not all boat slips, are deeded, however. Some are doled out by an association or put on a rotation. Be sure you know what comes with your potential summer retreat.

  2. Swim pier and boat launch. If you cannot have your own private boat slip or buoy on the water, a boat launch or swim pier follow closely behind. With a boat launch, the property belongs to an association that maintains their own private launch. This allows daily access, usually without additional fees. A swim pier gives you a place in the sun but most likely will not allow you to tie up your watercraft.

  3. Toe-dipping. There is a third class of lake rights that is the least valuable. I like to call them “toe-dipping” rights. Many properties have historic riparian rights to the water. I say historic because the navigable waterways used to be a needed method of transportation. As a result, the right to walk down to the water was given to all property owners in an area so that they could launch their watercraft. This access may be a 40 foot green space area or a 10 foot weeded walkway. As a result, you may end up with lake rights that require a trip through Poison Ivy prior to a refreshing swim.

    4. Before you purchase your next lake home, be sure your Realtor knows the true lake access of the property.

    Posted By: Ryan Simons