My kids like to make time-lapse videos. Some people make time lapse videos over the course of an entire day. The sun comes up, quickly, then it moves across the sky, quickly, and then it sets, quickly. It’s a full day, quickly. My kids don’t make time-lapse videos like that. They make ones that last a few seconds, that feature them doing such interesting things as standing still, or sitting at the island counter. Their videos are terrible. I’d like to see a time-lapse video of the lakefront on Geneva, say, over the period of the last 20 years. It would be fun to go back 100 years, but also very depressing, as grand old homes were razed to make room for subdivisions and associations. If we did have that 20 year video, we’d see new construction abound. All varieties, some small and some large, others monstrous. We’d see large homes wedged next to small homes, and small homes delicately crammed next to large homes. We’d see all sorts of things, and in the haphazard nature of it all we’d see uniformity.
The magic of Geneva is found in this mix. Old and new, small and large, alternating along the shoreline. But one thing is certain- if we had our druthers, we’d position like kind homes next to each other. We’d have sections of the lake where estates rule the day, and we have that on Snake Road. We’d have areas where large lots rule, with large homes and estately prices, and we have that on Basswood and North Shore Drive. We’d also have a tidy, dead end lane where large lakefront homes are spaced well and appropriately, where one new home is not out of place next to another. We have that in Loramoor, and today, you have an opportunity to join that most exclusive lane. Enter Loramoor Lot 7, the obvious solution for any house hunt that finds a buyer seeking new construction in the $4MM or less price range.
I sold this lot a year ago. There’s no secret in that. I sold these 110 level front feel to a buyer who simply couldn’t find what they desired in our existing home market. We have a noticeable absence of quality homes in the $3-4MM price range. We have plenty of nice properties, terrific lots with old, bad houses, or terrific houses on sub-standard lots. In this parcel, the buyer found what they wanted in the existing vacant land, and knew they could build the exact lake house that would scratch all of their weekend itches. At 1.43 acres in size, the lot is larger than similar properties that have sold in the last few years as tear downs, and since it was already vacant there would be no added cost involved with deconstructing an existing home. The property was perfect, and unlike others in this range, it is surrounded by ample homes of newer birthdates, very obviously a secure location to add value in a new build. Compare this to a vacant lot in the $2MM price range that’s located next to smaller, lesser priced properties. It makes more sense to have a $3.75MM house next to other houses of equal or greater value and here, in Loramoor, we have that.
The buyer set about permitting and planning, but when a childhood home was available for purchase, the pull of that powerful nostalgia was too much to resist. The Lake Geneva dream would have to wait, and it’s for that reason that I offer you this wonderful parcel for $2.34MM, available today and ready to build your own dream home on without delay. The owner has been working with Scott Lowell to design the perfect lake house, and to the right buyer we can include those plans. A sneak peak of the elevation is above, and while you’d be well served to build this home on this beautiful lakefront parcel, you’re free to design your own if you so desire.
You can buy 100′ lakefront lots on this lake with some routine between $1.9MM and $2.5MM. These lots will host older, lesser homes, and if you like the older home and intend solely to remodel it, then you’ll be making a wise decision. But all too often these older homes are sold and torn down, and in that we must consider our surroundings. If you build a $2MM home on a $2MM lot, and you’re surrounded by $2MM built homes, do you suppose that’s usually a terrific idea? Of course not. There’s safety in building in a neighborhood with a proven tendency to support your target value, and that’s why this Loramoor lot is better than the others in this price range. There is no association immediately adjacent, no shared driveway, no sloped frontage or rough landscaping. There is only a beautiful canvas, grassed and treed and ready to host your lakefront vision. At $2.34MM, there’s value here, and if you’re a buyer in the $4MM range you owe it to yourself to consider this parcel as your first, and finest option.
Because you’re super smart and reading this blog, you know about this property before the rest of the market does. It’ll be available to the masses next week, but in the mean time, I’m happy to show it this weekend should you desire. dave@genevalakefrontrealty.com