May 10 - 23
Annual Lake Geneva Marathon/Relay/Walk
Library Park, Lake Geneva.
Chosen by Runner's World magazine as the best small race in the country, the Lake Geneva Marathon offers runners (and walkers) an ideal setting for a unique running experience.
www.lakegenevasports.com (262) 275-3577.

What is a 1031 Tax Deferred Exchange?

Thanks to the IRC §1031, a properly structured exchange allows an investor to sell a property, to reinvest the proceeds in a new property and to defer all capital gain taxes. IRC §1031 (a)(1) states: "No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment, if such property is exchanged solely for property of like-kind which is to be held either for productive use in a trade or business or for investment."

There are several types of exchanges including the above, Tenant-in-Common ownership, oil and gas programs, air and water rights, easements and other replacement property options.

What is Like-Kind Property?

Contrary to the commonly held misconception that exchanged properties must be of the exact same type - for example, that bare land be exchanged for bare land or an income property be exchanged for another income property - the actual definition of like-kind is far more empowering in its flexibility. Any real property held for investment or real property used in a trade or business can be exchanged for any other real property held for investment or real property used in a trade or business.

Can a Vacation Home Qualify for 1031 Exchange?

A vacation home may very well qualify for a 1031 Exchange; however, there are specific IRS guidelines that need to be followed.

How do I Set Up 1031 Exchange?

It is wise to go through a Qualified Intermediary Company (such as Asset Preservation, Inc. – www.apiexchange.com) that specializes in exchanges and has thorough knowledge of the ongoing changes in our tax codes. They can facilitate the transaction and answer any questions that you might have. They will also work with your local title company to coordinate a successful transaction.

» Read More

Spring is back and Sugar Creek Preserve is the place you will want to be. Soon our wildflower prairie will be in full bloom. Our stone terrace overlooking Cygnet Lake is the perfect spot for watching the many varieties of ducks and other birds as they make their trek north.

Let us take the worries out of the home building process. We are offering a home lot package that is absolutely stunning and fits perfectly with natural surroundings. The homesite is situated directly across from the 15 acre wild flower prairie. Get started now and enjoy the beauty of the wild flowers all season.

Please contact Keefe Real Estate at (877) 725-6895 or visit SugarCreekPreserve.com for more information.

Summer is less than 7 weeks away – where are you going to start the season? Let us be your escape for the summer season.

There are several new properties, including lakefront properties, that have just joined Keefe Rentals. Check them out, as well as the popular classics that so many have enjoyed for years, on our website: www.keeferentals.com.

Keefe Rentals offers an array of private homes, lake access, lakefront, townhouses, and condos to suit your vacation needs. We also provide properties for long-term rentals, whether relocating to the area or need to temporarily move due to a construction project delay. Search our inventory to find the property that suits all your needs.

Our properties span the area of lakefronts on Lake Geneva, Lake Delavan, Lauderdale Lake, Whitewater Lake, as well as Abbey Springs and Geneva National private resort communities. To view the virtual tours, pricing, and details, visit www.KeefeRentals.com or call our specialists today for rates 866-818-8637

The Keefe Real Estate website has been completely redesigned making it the one stop online solution for all of your real estate needs.

- Google Map and Street Views (where available) for all listings
- Search for property right from our home page
- Save your searches & get automatic updates with the Keefe Home Finder
- Explore area lakes real estate with the interactive Lake View in Depth
- Keep up with real estate news with our news blog



Visit www.KeefeRealEstate.com today!

Come to Woodstone Prairie to appreciate the beautiful landscape and gorgeous architecture. From the prairie plants to the oak savannah, Woodstone Prairie is Lake Geneva's premier conservation association. 50 acres of this 91 acre property has been dedicated to the Geneva Lake Conservancy combining the best of all worlds: an outstanding home with spacious land giving the feeling of space, privacy and serenity. Enjoy the walking trail, the pond, and the community garden without the hassle of a large property. Choose from the stunning home packages available from our preferred builder, Engerman Contracting, or bring your own builder. This is an ideal location close to Lake Geneva and the Illinois State line for either a primary or secondary residence.

Please contact Keefe Real Estate at (877) 725-6895 or visit www.woodstoneprairie.com for more information.

On April 1, 2008 Governor Doyle signed the Wisconsin Pier Protection Bill into law. Under this law which has been debated extensively over the past 3 years almost all existing piers in the state will be grandfathered. This is good news for all riparian pier/dock owners in the state. Here are some of the important details:

1. The bill grandfathers all existing piers less than 8 feet wide, with a deck that is no larger than 300 s.f. and no wider than 10 feet. If the deck is 200 s.f. or less, there is no width requirement.

2. An owner of an existing pier that is not grandfathered must apply for an individual permit, but the DNR can deny the permit only if the DNR can prove the pier violates the public interest.

3. Owners of grandfathered piers may repair, maintain or replace an existing pier. The owner can relocate and reconfigure with DNR approval.

4. To be eligible for grandfathering, existing Wisconsin piers must be registered with the DNR within 36 months.

5. No fee will be charged for existing pier registration.

Keefe Real Estate is pleased to announce our new sales office opening in May at The Abbey Resort in Fontana.

Madison -- Wisconsin waterfront property owners can rejoice after new legislation to protect existing piers was signed into law today, according to the Wisconsin REALTORS® Association (WRA).

Assembly Bill 297 establishes grandfathering standards for existing piers and will provide permanent protection from future regulations to approximately 99% of the existing piers. The new law exempts from new regulations (or “grandfathers”) all piers up to 8-feet wide and loading platforms or “decks” (located at the end of the pier) that are 200 square feet or less. The law also grandfathers decks between 200 and 300 square feet, as long as they are no wider than 10 feet.

“This new law is very important to waterfront property owners and will provide certainty as to which piers are legal, and which are not,” said Mike Spranger, WRA Chairman. Spranger also thanked Governor Doyle and legislative leaders of both political parties for passage of the bill saying, “The new law strikes a good balance between the rights of property owners and the rights of the public to use and enjoy our waterways.”

Assembly Bill 297 was the work product of a broad coalition of key stakeholders including the Wisconsin Department of Natural Resources, Wisconsin REALTORS® Association, the Wisconsin Wildlife Federation, the Wisconsin Builders Association, and the Wisconsin Association of Lakes. It passed both houses in the legislature with unanimous support.

While some existing piers will not be grandfathered, the law makes the process easier and more equitable for obtaining the necessary permits to keep these piers in place. “This new permitting process recognizes that many of these piers have been in place for decades and it would be unfair to make waterfront property owners rip them out,” said Bill Malkasian, President, Wisconsin REALTORS® Association.

While a pier adds monetary value to waterfront property because it provides access to the water for boating and recreation, there can also be a significant emotional attachment for some property owners. “A pier is the place where many families have spent countless hours swimming, fishing and spending time together,” said Spranger. “Piers are emblematic of summer-time fun in Wisconsin.”

The Wisconsin REALTORS® Association is one of the largest trade associations in the state, representing over 17,000 real estate brokers, sales people and affiliates statewide.

A New Community From Lanco Development LLC

March 10, 2008 - Lake Geneva, WI –Lanco Development's new homes at The Villas at Eagleton Ponds, feature 42 uniquely designed homes ideal for empty nesters and anyone looking for luxurious living at Geneva National. Located on tranquil, picturesque ponds, The Villas start at $509,000.

The exceptional new neighborhood offers two-unit buildings with two separate floorplan options; a 2,108-square-foot ranch with two full bedroom suites, or a 2,566-square-foot two-story home with a main level master suite and two additional bedrooms and bathrooms upstairs. The Villas at Eagleton Ponds cater to the lavish lifestyles of its buyers and strive to exceed expectations. Available upon request, Lanco offers a tranquil Yoga room for homeowners to enjoy. The room is complete with a frosted glass door entrance, natural cork flooring and soft lighting which highlights the soothing palette in the space. Other high-tech features include an iPod station for homeowners to utilize while meditating and a serene waterfall.

"The Yoga room is just one of the luxuries we can provide for our clients," said Curt Langille of Lanco Development. "We want our customers to be excited about coming home. The Yoga room is a great offering and demonstrates our ability to satisfy our client’s desires."

» Read More