Margaret Canfield

“Margaret,  we were playing on the Trevino Course yesterday and there were these seperate buildings that were yellow.  One floor with red roofs.  Can you tell me more about them?”.  For sure!  This is the community called The Cottages at Geneva National one of the first condominiums builts in this private community.

   The floorplan of the this stand alone home is the same for all of them.  They are 1200 square feet with 2 bedrooms and 2 baths, a great room area, gas fireplace, cathedral ceilings, a galley kitchen, separate utility closet with washer/dryer and then an outside patio with a private entrance.  The master bedroom is a suite area with private bath and then you have a bath in the hall way next to the second bedroom.  These are adorable homes and well loved by those that have lived in them full time, part time or purchased for investment and then rented them.   Many, many original homeowners started in the Cottages and then moved up in the ocmmunity.  Once you have walked into a Cottage then the rest is really about location and placement of the home itself.  Options?  Golf course views, wood views, or pond views.  

Through the years owners have updated the original finishes and the association has replaced roofs, outside cedar, resurfaced the common parking areas and added landscaping.  This cute neighborhood is adjacent to the new walking/jogging paths that take you right up to Club 755 which has the pools, tennis courts and playground.  

The monthly assessments include everything so you can spend your time doing other things.  Owners are responsible for phone/cable, heat/AC and electricity.   If you are looking for more information then click here and visit 1754 Cottage Drive in Geneva National at Lake Geneva, Wi.

Here are some tips to consider:

1. Work with a Realtor who has access to foreclosure information.
Many home buyers assume that all agents have access to foreclosure listings. It’s important to ask. I have access to foreclosed, short sale and HUD properties.
2. Bank-owned properties generally close faster than short sales.
While short sales can be bargains, they also can take a lot longer. Some banks will negotiate in a timely manner on short sales, but most will prioritize properties they have already repossessed.  Your Realtor can assist you with more information regarding properties.
3. Yes, you can negotiate the asking price.
Don’t assume that banks are firm on their price. For example, asset managers responsible for liquidating bank-owned homes are often willing to consider a lower offer.  They are financial managers and have a bottom line but in most cases are willing to negotiate.
4. The Bank may pay closing costs and offer a 2 year home warranty. Ask!
The worst that can happen is that they say no. Sometimes buyers are surprised to find that banks can be quite accommodating when they want to.  Be sure to place all of your requests in the original offer to purchase.  No matter the amount of counter offers, if it is not in the original offer you cannot go back and add it later.
5. Get pre-approved by a Bank prior to starting your search.
When writing an offer on a foreclosed property you have to include a pre-approval letter from a Bank.  No offer can be made without one.  It is also a smart process for any Buyer to complete because it will determine how much you can purchase and tell you what your monthly payments will be.  If you find a home you want to be able to write on it that day- any delays could place another buyer in front of you.

Check out my about.me profile!

As a Realtor in Lake Geneva, the Geneva Lake waters and other Walworth county lakes are of prime importance to our real estate values. These new changes attempt to protect our water quality, wildlife, and our natural beauty by placing stricter standards on new development and construction near our waterways. 

No. 10  Setbacks may be reduced under certain circumstances.

The 75 foot setback can be reduced if “an existing development pattern exists”.  This new law defines “existing development pattern” as the location of existing principle structures within 250 feet of the proposed structure in both directions. This is an important provision to protect the views for properties located on developed lakes and rivers, where neighboring houses are already built closer to the water.

Shoreland zoning information?  Click here!

http://margaretcanfield.com/blog/2011/01/117/

As a Realtor in Lake Geneva, the Geneva Lake waters are of prime importance to our real estate values. These new changes attempt to protect our water quality, wildlife, and our natural beauty by placing stricter standards on new development and construction near our waterways. 

No. 9  A NonConforming structure may be completely replaced or relocated under some circumstances.

A nonconforming structure can be torn down or rebuilt if a) a compliant building location is available on the property to build a house of a comparable size, b) the structure is at least 35 feet from the water, c) the replacement structure is no closer to the water, d) mitigation requirements are met, and e) all the other requirements in the ordinance are met.

Click here for more information on Shoreland Zoning.

 

As a Realtor in Lake Geneva, the Geneva Lake waters are of prime importance to our real estate values. These new changes attempt to protect our water quality, wildlife, and our natural beauty by placing stricter standards on new development and construction near our waterways. 

No. 8 Most existing substandard lots are grandfathered.

This is a very important provision because some counties have treated some small waterfront lots as unbuildable if the lots do not meet the current lot-size requirements in the existing ordinance.  Most of the lots are grandfathered as long as they a) met the lot-size requirements when the lots were originally recorded and b) the lots have not been merged, replatted, or combined in any way with adjacent lots. 

Looking for more information on shoreland zoning?  Click here.