Lake Geneva Foreclosure Update

Here’s my weekly playing of the broken record that is the Walworth County foreclosure scene. We still have a couple of properties with lakerights on the board, including two in Country Club Estates, and one in Indian Hills. The foreclosure in the South Shore Club is still posted, but do remember that’s an apparent action between individuals, not a seizing action of a bank (that’s how it looks, but I can’t guarantee that’s the case). Of continued surprise is that we do not have any properties pending sheriff’s sale in either Abbey Springs or Geneva National. With over 580 units in Abbey Springs and well over 1000 units in Geneva National, the lack of a foreclosure is staggering and quite impressive. If you’re looking for market strength let’s begin and end our search in Walworth County.

We have plenty of foreclosures in Delavan, Elkhorn, Pell Lake, Lake Como, and Whitewater. Some sprinkled through Lake Geneva and a couple in Linn township, but only 1 property scheduled for auction in Williams Bay, and that’s a commercial property on Highway 67. The defaulting note for most of these foreclosures is in the $130,000 to $250,000 price range, with the very entry level of the market and the upper end of the market largely avoiding any trouble. The foreclosure in Country Club is near the $1MM mark, making that the most expensive foreclosure in that subdivision that I’m aware of. That property owner may have any circumvented foreclosure by ponying up the required funds, and if he hasn’t, I largely expect that to be the case prior to that property being auctioned off.

According to foreclosurenet.net, the company that firmly believes redundancy is the key to marketing success, there are 68 properties on the market in Walworth County right now that are a result of foreclosure. Strangely enough, a new search process being touted by agents as an easy way to search foreclosure properties reveals only 7 such properties as of today. Looks like it pays to work with a Realtor who doesn’t mind doing a little extra research to fill you in on the whole picture, not just a snapshot. Oh, and for my Michigan loving readers, I know you’re dying to know what foreclosurenet says about Tim Allen’s friends. While foreclosurenet lists Walworth County as having 68 foreclosure properties on the market, they list Berrien County as having 207. Ouch.

I’ll let you figure out which market is a more stable option for your vacation home dollar.

Pending Sheriff sale information taken from the auction board posted at the Walworth County auction site and is deemed accurate but in no way guaranteed.

About the Author

I'm David Curry. I write this blog to educate and entertain those who subscribe to the theory that Lake Geneva, Wisconsin is indeed the center of the real estate universe. When I started selling real estate 27 years ago I did so of a desire to one day dominate the activity in the Lake Geneva vacation home market. With over $800,000,000 in sales since January of 2010, that goal is within reach. If I can help you with your Lake Geneva real estate needs, please consider me at your service. Thanks for reading.

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