Rent Real EstateSoutheastern Wisconsin Lake Area Homes Still Selling Briskly
Homes in the Lake Geneva, Lauderdale Lake, and south-central Walworth County are still selling well, say local Realtors, who don"t foresee more slowdown for the holidays.
"Sales in Lake Geneva this year have been brisk, especially with regard to the lake front market," says Realtor Bob Webster. "As a result, the lake front inventory has been reduced, but should begin to come back up after the beginning of next year. The least expensive home on Lake Geneva with owned frontage is $895,000, but most homes are going to be over the $2,000,000 price range."
Lauderdale Lake is a three-lake chain of approximately 840 acres in the unincorporated Township of LaGrange, located 20 minutes north of downtown Lake Geneva. Around Lauderdale Lake, there are currently 30 active listings ranging from $114,000 to $1,900,000 with an average asking price of $491,467, says Webster. "Year to date, there have been 37 sales with a dollar volume of over $14,962,030, a low sale price of $119,000, a high of $1,465,000 and an average sale price of $404,379."
"Lakefront homes in this area can range anywhere from $300,000 to over $2,000,000," advises Webster. "The lower priced lakefront homes will typically be in areas that do have private piers with the ability to dock a boat, but not considered "swim-able" frontage."
Say Realtors Ron and Diana Dahlberg, "If you like lots of specialty shops, large executive homes, condominium complexes, surrounded by Lake Geneva and surrounding lakes (for whatever your pleasure ... fishing, sailing, swimming, pontooning), and enjoy living in a tourist area, this is it! We have the best of both worlds ... old world charm and contemporary lifestyles."
The Dahlbergs suggest, "Southeastern Wisconsin, Lake Geneva, is a fast growing market, especially because of its location between the larger cities! It is an area of many resorts, affluence and opportunity. The housing market is ever growing ... condominiums and new construction continue to pave the way! Many people come to Lake Geneva from the Illinois and surrounding Milwaukee County areas.
"Interest Rates are still below six percent," they advise, "a range that is encouraging continued home purchases. Buyers are being more particular and are looking at a lot of homes before making their purchase. The nicer homes are selling while the homes needing some sprucing up are stagnating in the market. There are a variety of special loan packages available to buyers today ... so be sure to check with your lender about the special ARMs especially on 15-year loans! Now is the time to buy! Don"t let this window of opportunity pass you by! We don"t know what the future holds, but we do know the rates will not hold forever at these remarkable lows! An overall glance at the real estate market lends itself to an encouraged economy."
"The south-central Walworth County land market, which I am identifying as the townships of Geneva, Walworth, Linn and Bloomfield," says Realtor Randy Erwin, "continues to be strong. Since January this year, there have been seven sales of land parcels of 20 acres or more. The average sale price was $10,575/acre with prices ranging from $6250/A to $30,000/A. Land in the area sells for either development or residential estate use. Anything wooded or adjacent to municipal services enjoys exceptional demand with a majority of the buyers coming from the Chicagoland area."
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