
N1980 North Shore Drive Lake Geneva Lake Front
We just had 2 really good showings on this immaculate lakefront home on Lake Geneva over the weekend and we had 4 showings last weekend. The home is located on the North Shore of the lake and is being sold furnished for $2,875,000. Click here to Take a Virtual Tour.
I continue to be pleasantly surprised by the strength and level of interest in the Lake Geneva lakefront real estate market that we’ve observed since Labor Day. Traditionally, the lakefront market begins to heat up after the beginning of the year and we generally expect the business that is going to come together to happen in the Spring and Summer months. Unfortunately, I think we will look back at this year as the Summer of ‘09 that never happened, both weather-wise and business-wise. Our inventory of lakefront homes went up this year to unusually high levels and we have definitely seen some scaling back of asking prices in reaction to the amount of competition created by the higher inventory. Obviously if you are a Buyer, that’s a good thing. Even though the number of sales on the lake is down YTD, we have not seen a dramatic decline in prices as many of the Sellers will just choose not to sell, rather than sell for substantially less than the adjusted asking prices. Which is also a good thing if you are a Buyer, because it tends to give the buying public more confidence that this part of the market is going to weather the storm and just keep plugging along avoiding the unfortunate price gyrations associated with some markets like California and Florida.
Time will tell. I sense we are currently in the middle of something very interesting going on with the Lake Geneva lakefront market where the consensus of opinion on the part of many well informed Buyers is that now is the time to invest in a quality property on the lake.
Contact Bob Webster for details of some of the outstanding values available on the lake today. To easily search for lake front property on Lake Geneva go to www.LakeGenevaProperty.com.