Lake Geneva Market Update

Lake Geneva Market Update

Photo courtesy Kristin Westlake

This was a good week for Lake Geneva real estate. I personally closed on two properties this week, one in Abbey Springs and the other in the Loch Vista Club in Williams Bay. As always, I’m most appreciative of the buyers and sellers that let me represent them. I realize every customer has myriad representation options, and I am sincerely grateful when people choose to work with me. Back to the sales… The Abbey Springs condo buyer purchased a great unit, and at $315k, the price was quite favorable for the buyer as well. The other sale was a classic little lake cottage in the Loch Vista Club. This sale marked my 9th transaction side in the Loch Vista Club in the past 12 years, far and away the highest number of transaction sides in the association over that time frame. The price of the cottage was also $315k, and while the prices of the two properties were the same, the properties themselves couldn’t have been more different. One a condominium in amenity blessed Abbey Springs, the other a small cottage near the lake in Williams Bay where the only real amenity is an association swimming pier. Unless of course you count the throw back diving board just aching to have my client, and the new owner christen the board this year with a Dangerfield style Triple Lindy while the other association members shield their eyes in horror.

Two very different properties, one identical price. Aside from price, they both offer the new owners a place to unwind and kick back near beautiful Geneva Lake. Coincidentally enough, the seller of the Loch Vista Club cottage moved to another, larger cottage down the road, and the seller of Abbey Springs moved to an association home near the water. Both of these sellers didn’t bail on the market, or bail on the idea of a summer home, they just switched up their priorities and found new lake homes that are even more perfect than their old ones. These prices are proof positive that you needn’t be Oprah if you want to own a piece of this vacation market. Buyers, I know it’s cliche, but summer 2009 really is going to be here before you know it. I hope you don’t spend another summer wasting away in the suburbs, or, gasp… the city.

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