I spent last night at Wrigley Field watching the Cubs lay yet another playoff egg. In the event that this entry is angry, cold, bitter, and lacks optimism, you now know why. The lakefront market continues to be the most solid sector of the Walworth County housing market. Properties continue to sell on Geneva, Lauderdale, and Delavan lakes at a stable pace. Price fluctuations have been minimal if they’ve happened at all. Current market inventory is available for Geneva, Lauderdale, and Delavan. The Lauderdale and Delavan links exclude some lessor priced lakefront properties that are available to view by contacting me.
The thing to remember right now is that buyers are indeed in a position of strength. The volatility in the exchanges, while not all that significant in the long run, do represent opportunities for buyers to negotiate right now. The fear that perhaps unnecessarily grips many people right now is something that can prove to be a solid negotiating tool for lakefront and vacation home purchases this fall. The reality is, this mess will blow over. The market will correct itself. Self correcting markets are a hallmark of capitalism, and even this too will pass. While nationalization of private corporations is a hallmark of socialism, perhaps a little government (taxpayer) sponsored confidence will indeed keep us out of a prolonged recession. Again, that ugly recession word. Remember that a recession is at least in part defined as two consecutive quarters of a decline in GDP. First quarter of 08 GDP increased .9%, second quarter 08 increased 2.8%. Not a recession by definition, but definitely a trying time for many.
If you’re in a position of financial security, now is a tremendous time to purchase a lasting investment in the future of your family. Financially this investment is about as sound as they come. Personally, the impact cannot be measured. Let’s go look at some houses.