Looking for Lakefront Property? Buy Now!

Looking for Lakefront Property?  Buy Now!

Looking for lakefront property along the shores of Lake Geneva?  Now would be a good time to buy. The volatility and variables of the stock market which have adversely affected so many investors seem to miss the stable lakefront market which has historically seen consistent annual appreciation.  Prices have seen more modest increases during the past two years, and the winter of 2008/2009 may offer some excellent values for the savvy investor.  Those buyers who have waited for the "bottom to hit" may be surprised to discover the "bottom" is a relative term when speaking about lakefront properties.

With an average price of $2,515,183 and $2,794,077 in 2007/2008 respectively, Lake Geneva represents the most expensive - and most prestigious - frontage in Walworth County.  So why buy now? If you were to look at a graph showing lakefront per front foot sales prices for Geneva Lake for 2002-2007, you would see that prices rose from $20,000 per front foot in 2002, to just under $25,000 in 2003, dropping slightly in 2004 to just about $23,000, then spiking to $36,000 in 2005.  An abrupt dropt in prices came in 2006 (just as the market began to cool) with an average front foot price just under $25,000 (almost on par with 2003 prices), then in 2007 prices rose to just under $26,000 per front foot. Lakefront sales for Lake Geneva, through December 1, 2008, indicate an interesting trend:  for the thirteen lakefront properties sold thus far this year, the average front foot price is $35,799 - almost $10,000 more per front foot than the previous year. While two of the sold properties were in associations and did not actually "own" the frontage, pricing for these properties was consistent with true lakefront sales. 

So why buy now? If history is to be repeated smart buyers will realize steady appreciation in the coming years on their lakefront purchases. Investing in a lakefront property historically ensures insulation from the effects of a volatile and unpredictable market.  In addition, real estate has consistently proven to be a more stable investment than stocks - and you actually can enjoy your investment as it appreciates! For more information on purchasing lakefront property in Lake Geneva, Fontana, Linn, Williams Bay, or Geneva contact Janis Hartley, Keefe Real Estate, at (262)745-3630 or by email at Janis@SellingLakeGeneva.com.  You can preview listings online by visiting my website, www.SellingLakeGeneva.com