Margaret Canfield

As we move into May the private community of Geneva National has had a good start to the season with a mix of sales.  As of April 29, 2011 there have been 12 closings.  Two vacant pieces of land, five condominums and five single family homes.  More importantly amongst the homes and condos the highest closed transaction was for $459,000 with the average being $308,000.

Both single family and multi-family homes pay association dues.  Single family assocation dues average $262.-272./month whereas multi-family dues vary anywhere from $350-650/month based upon the association within the community.   I can supply you with a full list of what is included with these monthly association dues.

If you are interested in finding out more about Geneva National or touring homes and condos for purchase than contact me, Margaret Canfield, at 262.348.3231.  I not only sell real estate in many areas of Geneva Lake, I live in Geneva National and absolutely enjoy the outdoor lifestyle it provides along with easy access to Lake Geneva, Williams Bay and Fontana.  

Lately I have had several buyers new to buying in Lake Geneva and Geneva National comment on association dues.  Monthly association dues vary from community to community but if you are looking for amenities the dues can be 350-650/month.  This seems to ‘rock some worlds’ but in reality many folks are paying more than that for their parking space!  You need to remember this is a second HOME and it needs to be cared for even though you are not physically part of the process.  At Geneva National there are many separate and distinct associations under the management umbrella of Geneva National.  Dues vary amongst each association due to the age of construction and materials along with decks, patios, landscaping and screened in porches.  And yes, in some cases an older smaller condo will have the same dues as a larger condo based on new construction materials, number of units and design.

Let’s break down the dues with a monthly association fee of 400.00.  This piece is divided into two – money for your condo neighborhood and money for the overall association.  Everyone pays to maintain 32 miles of roadway; grass, trimming, snow plowing, sand etc.  Everyone pays for security, water and sewer, professional management, the pool(s), insurance, legal fees and such.  That amount is about  229./month.  The remainder goes to your neighborhood and in this case that would amount to $171.00.   That amount is suppose to cover grass cutting, snow removal, bug spraying, replacement reserve for the exterior, repairs and then painting.  Right now I want you to think what you pay every week to get your lawn mowed.  50$?  Right there you are at 200 a month and you haven’t touched anything else.  How about plowing in the winter?  Over 2 inches on the ground starts the plowing and last year I can name the weeks where that was 4 times in one week – at 40$ a plow?  Adds up fast. 

This large community of close to 1100 homes/condos spread amongst 3 gorgeous golf courses over 1800 acres is well managed with over 96% paying there dues on a timely basis.  That says a lot.   Next time you question association dues please mentally tabulate your water and sewer bills, your grass cutting costs, snow plowing, insurance, landscaping and yearly exterior home maintenance on your full time residence.  This is your second full time residence!

P.S.  If you are looking for a complete list of inclusions let me know and I will be glad to email them to you.  Thanks!

Cash buys are becoming common. The number of homes bought with cash jumped to 32% in January compared to 26% a year earlier, according to the National Association of Realtors.  Buyers that are welcome qualified to obtain financing are opting for cash because of the financing process and sellers are happy to see cash because they know the ‘deal is done’.

To read more on why buyers are paying cash for closings click on this link.

http://dailyreckoning.com/houses-love-inflation/

They have a fabulous view don’t they?   This is the community of the Lakelands at the private community of Geneva National, Lake Geneva, Wi.   The Lakelands were one of the original condominium communities built when Geneva National started 20 years ago.  You will notice that that it looks like three levels of homes, especially with those overlooking the Geneva National Golf Club.  Really the buildings were layed out with 4 condos. 

                                  There are two condos on the main level and then two condos that I would call a second floor ranch.  The first floor Lakelands condominiums that overlook the golf course have a lower level walk-out, thus the three level architecture.  The Lakeland neighborhood was built on rolling hills and location will determine whether that first floor will have a lower level or not, whereas the upper condominiums always are one floor.  So really there are 4 condominiums in one building, two up and two down and each has a one car garage. The upper homes, known as the Tahoe floorplan, are accessed by private outside entrances with inside stairs up to the condo.  About 1600 square feet with 2 bedrooms/2 baths, good size kitchen with eating bar area, dining and living space and along with an office/third bedroom with a large walk-in closet.  Cathedral ceilings and outside decks add to the living space.  And some of the Lake Como and Lake Geneva are views are spectacular from the second floor decks. Through the years many owners have upgraded the finishes, expanded the decks and the exteriors have been maintained by the Association.

The first floor homes, known as the Como floorplan, have an outside entrance with about 1500 square feet of living, again two bedrooms/two baths and a similar plan to the upper Tahoe but without the study.  You gain the extra space with the additional lower level.  Owners have finished off those spaces very differently but the basic note is that you have a utility room, storage area, at least one bedroom and bath and then a large family room with outside patio.  With many families spending so much time at Geneva National the deck expansions, added screened porches and patios have not only ‘brought the outside in’ but added to the value of the Lakeland condos.  

Looking to walk inside?  Then click here to see 1059 Lakeland Way, a lower Como floorplan with a walk-out lower level.  In all you could have close to 3000 square feet in living area.  Walk to the Geneva National Golf Club, walk to Club 775/pool area or hike on the Geneva National Nature trails.  Pet friendly!