Blog : Lake Geneva Club

Shore Haven Sells

Shore Haven Sells

The single lane associations on the south shore of Geneva are some of my favorite lake access associations. These are not large associations like Cedar Point Park or Country Club Estates, rather they’re intimate skinny lanes with a handful of homes, perhaps 30, perhaps 50, rarely more and rarely less. These associations generally offer one thing that the larger associations cannot- transferable boat slips. Excepting Sybil Lane, the other three in this stretch- Shore Haven, The Lake Geneva Club, and Oak Shores, all offer each home a fully transferable slip. Some slips are larger and others small, some shallow and others deep, but if you’re a buyer on these streets then you’re going to be buying a boat slip, and that is always a good thing.

Some buyers don’t want boat slips. I’m not a boater, they say. I don’t even own a boat, why would I want a slip? Considering I’m a sage old Realtor at this point, I can tell pretty early on if the buyer is the sort who claims to not want a slip but who will, at a later date, wish for one. If a buyer wishes to spend $300k on a lake access home, that’s terrific news. But that buyer won’t be buying a boat slip for that sort of money. The home they can buy will be nice enough, with lake access through an association park and pier system, but a transferable slip will not be possible at that price range. However, if a buyer is looking at $500-600k lake access homes and doesn’t think they need a slip, I’ll always encourage that buyer to consider homes with a slip first. To vacation at Lake Geneva and not have access to a boat is like sitting down for a dinner at your favorite restaurant and not being allowed to order.

Last week, I closed on my listing in Shore Haven for $675k. This was a nice house with terrific proximity to the lake, but that’s not why it sold. It sold because of its wonderfully large and deep transferable boat slip. Today, the home next door to that one is closing to a customer working with me, and that home will be selling because it’s cute, sure, but mostly because of that slip.  Today, buyers searching for sub-$800k homes with boat slips are not going to be overwhelmed with the multitude of options available to them, but they are going to have options. As of this morning there are 6 homes with transferable slips (or pier) for sale priced under $800k, including my rare offering in Ara Glen listed at $775k.

The next home to sell on this list will likely be my painfully cute cottage in the Lake Geneva Club listed at $609k, pictured below. That home has a nice slip, a double lot, and all sorts of cottage charm. If you want to pull up to your lake house and feel a deep sense of contentment, then email me and let’s make a deal.  It’s May 1st, which means summer isn’t some far off thing we’re quietly dreaming about. It’s right here, right now, and before you know it you’ll be sitting in your Saturday suburban back yard wondering where all your cool neighbors went.  The time is short, but there’s still plenty of it. Buy this house, be in for Memorial Day Weekend, then wonder how you ever spent Memorial Day Weekend anywhere else.

$609k, with slip.

 

New Lake Geneva Club Listing

New Lake Geneva Club Listing

There are certain houses that are, for one reason or many others, better. They might not be gilded with gold, or polished to the highest diamond shine, but there’s just something about them. They’re welcoming. They’re cozy. They aren’t big but they certainly aren’t small. They have a presence, which is something that most homes lack. Most homes are houses; wooden or stone structures with some walls and a roof, capable but not endearing. My newest listing in the Lake Geneva Club is the sort of house that you remember, because it’s a special house on a special street and everyone knows it.

You’ll may remember this house from when I sold it several years ago. I sold this house quickly, likely because of the intangibles that the home possesses but also due to the tangibles. There are three bedrooms here, with a room that functions as a fourth. There’s a screened porch and two ample patios. There’s a double lot with loads of parking. There’s a deep water, fully transferable boat slip. There’s a wood burning fireplace. Yes, for all of the intangibles of style and grace wrapped in a lovely vintage bow, there are fundamentals here that make this a terrific lake house.

I’m not going to write much more today. This house will sell, and it should sell quickly. At $609k, there’s nothing else on the market that competes directly with it. There are no other homes for sale in the Lake Geneva Club. If you’re a buyer who wants to feel something towards the lake house you buy, then come see this house with me, and make it snappy. This won’t be available in the MLS until Tuesday, so you’re getting a first look, and I do hope you’ll let me know if you have any interest.

Linn Township Lake Access Market Review

Linn Township Lake Access Market Review

Once, I was in trouble with a seller. The seller was upset, but not upset like a seller gets when I leave a light on. Which, by the way, I tend to do. It’s like a puzzle, a prize, a riddle, each time different but always the same. A light, left on, somewhere.  But this seller was more angry than that, seriously angry, and not because I had left a light on or eaten a Reeses Peanut Butter Cup out of the pantry, which, of course, I never, ever, do. This time the seller was angry because I listed her home in the MLS under “Linn Township”. She said her home was in Lake Geneva, that no one looks for a home in Linn Township. That Lake Geneva is everything and Linn Township is nothing. Where is Linn Township? No one knows. She was upset.

This is not entirely uncommon, and if you’re a buyer I’m guessing you’ve possibly struggled with this distinction. The City of Lake Geneva is one municipality. The Town of Linn is another.  Where the confusion comes in is the mailing address for Linn Township homes is Lake Geneva, WI.  So, my confused seller from the example above was indeed correct, that her property had a Lake Geneva address, but it physically wasn’t in the City of Lake Geneva. Making matters worse, the Town of Geneva (think Lake Como, Geneva National, etc) also has a Lake Geneva mailing address but isn’t at all the City of Lake Geneva.  Of course none of this matters if Neumann was right and zip codes are meaningless.

Linn Township, whether confused for the City of Lake Geneva or not, is, without any doubt, the biggest player in our Lake Geneva lake access vacation home market. Linn has loads and loads of lake access communities, in fact, far more than all of the other lakefront municipalities combined.  I attempted a quick mental count and grew quickly tired by the time I had worked my way from Lake Geneva to Williams Bay, adding up 10 associations in that stretch alone. That brings up another item of geographical housekeeping: Linn Township is that area on the lake that extends on the North Shore between the City of Lake Geneva and the Village of Williams Bay. It’s also the area on the South Shore that runs from Fontana on the  West all the way back to the City of Lake Geneva on the East. It’s a large municipality, hosting a few dozen lake access associations, some big and others very, very small.

Today, just 16 off-water lake access homes are available in Linn Township. That’s a tragically low number, but it’s actually more inventory than most of the other municipalities have, relative to their 2016 sales. Last year, 12 lake access homes sold in Linn Township, priced from $69k for a cottage in Knollwood (please do not ask me to find you a $69k cottage in Knollwood, because the one that existed just sold), all the way up to an off-water estate in Loramoor that I sold for $1.625MM.

Maple Hills had a sale in the $200s, but before I tell you more, I will tell you that I’m not a huge fan of Maple Hills purely because it doesn’t feel like a lake access community. The location, approximately three million miles from the lake, makes it feel more like a subdivision in the woods than a subdivision near the lake, and for that reason, I’m not all that interested.  There was a sale in the Lake Geneva Beach Association at $360k, and there were sales in Wooddale (3), the Lake Geneva Highlands (2), Sunset Hills, Forest Rest, and Knollwood (2).  These are the sales, but 2016 was more notable for what didn’t sell, rather than for what did.

Per the MLS, there wasn’t a single closing in Shore Haven, Lake Geneva Club, Oak Shores, or Sybil Lane.  Nothing sold on Aspen Lane, nothing on Black Point, nothing in Glen Fern, nothing in Hollybush, nothing on Hunt Club Lane, nothing in Valley Park, nothing in the Lindens, nothing in Alta Vista, nothing here and nothing there. It was a year of limited inventory, and because of that, the sales totals were anemic. But beyond the lack of inventory pushing the overall number number, there were some notable offerings that didn’t transact. I discussed this at length in my year end review of the lake access market, but as a quick reminder, the market tested that $1.1-1.4MM price range for off-water, older homes that required significant updating and the market responded with a muffled, unenthusiastic, meh.

I don’t think the lake access inventory is going to stay limited for too long, but the lack of available inventory in each segment is causing a bit of gridlock for sellers that would-be move up buyers.  If you own a nice $600k cottage with a slip and you’re looking to upgrade to an entry level lakefront for $1.4MM, that’s really nice. But if you’re that seller who would be a buyer, you need something to buy. If you can’t find something to buy, then you’re not going to have something to sell, and if you’re not a seller then what am I doing here? This is the problem today, as each market needs a carrot waiting for it in the next market higher, and without that incentive to upgrade the market stalls. That’s what it feels like right now.

Linn Township is a wonderful municipality in which to own your lake house. The taxes are low, and without adjacent city-centers, the roads feel more rural, more quaint.  All of Linn Township functions on private well and septic (or holding tank), so that’s something to be aware of but it isn’t something to fear. I live in a home serviced by private well and septic and I’m almost entirely normal.  If you’re looking for a lake access home in Linn Township and your target association doesn’t have any open inventory today, please reach out to me and let me know what you’re looking for. I’ll go find it for you.