The Walworth County Fair is finally here and it’s guaranteed to be a “Boat Load of Fun!” It’s not just about the rides anymore. Don’t miss the grand stand events of Montgomery Gentry, Rodney Atkins, The Doobie Brothers, and the demolition derby. Free grandstand admission! There are tons of activities for all ages: wander through the buildings, visit the log cabin home, barnyard adventure and discovery barn, pig races, and all kinds of exhibits and demonstrations. Don’t forget the great food~my favorite is always cheese on a stick and the crème puffs! For more information visit: www.walworthcountyfair.com. I hope to see you there!

Guest post by: Marcey Johnson, Keefe Real Estate, Elkhorn, WI

Guest post by: Tracy Sallee



While there are many lakes in Walworth County, WI, most people are familiar with Lake Geneva, Delavan WI can boast being the second largest body of water in Walworth County, WI. Delavan Lake, WI covers over 1775 acres and offers over 12 miles of shoreline. Lake Delavan is also a deep lake with a max. depth of 50 feet and a mean depth of 21 feet. Water Quality is clear with approximately 10 feet of visibility.

Accessibility to Lake Delavan WI is excellent with a nice site for parking on the northeast shore. Delavan, WI also boasts numerous accommodations including Delavan Lake Resort, Lake Lawn Lodge, a boat rental facility, and a marina with gas.

To learn more about the real estate market in Delavan, WI you can call me at 262-203-1385 or use the link and check out my website.

Image courtesy of KCM Blog.

In the counties of Walworth, Kenosha and Racine in Southeastern Wisconsin the Foreclosure inventory continues to grow and this affects the sales of other non foreclosure sales in the market. According to the Metro MLS for the first 6 months of 2011 the average sales prices in these 3 counties have been dipping. In Walworth County, WI the average sales price was down about 10%, in Racine County it was down about 12% and in Kenosha County it was down about 3%.

Coupled with this, is and increase is the days of market in selected municipalities. In Walworth County the municipalities of Bloomfield, Williams Bay, and Darien, WI saw days on the market increase at least 65%, while Lake Geneva, Wisconsin's real estate inventory increased 20% and Delavan increased 15%. In Racine County the municipalities of Burlington, Union Grove and Waterford days on market increased 65%,50% and 30% respectively. On the other hand, Kenosha county's days on the market did not see as big of swings as the other two counties. The city of Kenosha’s were relatively the same as the previous year and Wheatland, Pleasant Prairie and Salem, WI days on market increased by 25%, 35% and 10% respectively.

Each of these counties also saw a slight reduction in the number of sales for the first 6 months of 2011 as well in the area of 5-6%.

Are you interested in learning more about Foreclosures in Walworth County? Check out our Foreclosure page

Guest post by Steve Beers, President - Keefe Real Estate.

Coming soon is the Darien, WI Cornfest…. One of the greatest 3 day events for the whole family, Sept 9-11th! It takes place in the Village of Darien, Wisconsin the weekend after Labor Day.There is a great line up of entertainment, activities for the kids, bingo, fireworks, a carnival, tractor pulls, clogging, zumba, a softball tournament, a live auction, and a parade. Don't miss out on all the FUN and who doesn't like FREE??



For the more competitive there are contests that range from cookie decorating to milk chugging, corn eating, cornhole toss and horseshoes. Don’t forget to purchase your raffle tickets for the chance to win cash prizes!


Guest post by Pattie Keyzer - Keefe Real Estate, Delavan

Another local event starts today in Elkhorn, WI. As I write this, the tents are going up for the 42nd annual Festival of Summer in Elkhorn, Wisconsin’s town square. Starting today at 11 am there will be live stage entertainment, demonstrations, arts & crafts booths and a carnival for the kids. Enjoy tasty Johnsonville Brats, hot buttery sweet corn, grilled chicken, ice cold lemonade and beer tent. Elkhorn, WI local businesses will also be participating in their Maxwell Street days with shopping bargains and treasures for all. Summer fun for the whole family! Stop by for some home town goodness and enjoy this local Elkhorn, WI area event.

Guest post by Karen Ostermeier - Keefe Real Estate Elkhorn

Looking for a great Friday night in Lauderdale Lakes, WI? My most dreaded question of the day, “MOM, WHAT’S FOR SUPPER?” I wish everyday was a Friday, because this would mean pizza at the Lauderdale Landing, located at W5625 Westshore Drive, Elkhorn, WI 53121. I’m not selling the rest of their full menu short, but my favorite is the hand tossed crust pizza with sausage, pepperoni, and mushroom. This is a great place for everyone: singles, couples, families, and most of all kids. You can eat inside or outside on their lakeside dock. They have reserved pier space to pull up in your boat or if you’re driving, there’s ample parking space. Check out their website Lauderdale Landings. I hope to see you there some Friday night!


Guest post by Marcey L Johnson, Keefe Real Estate - Elkhorn

Sharing some the Best Kept Secrets in real estate. The middle and end of the summer are great times to buy a home. Fall is just around the corner, and kids will soon be going back to school. Families want to get moved and situated before the hectic nature of work, school and play schedules all accumulate and make it nearly impossible to arrange home viewings and work with mortgage lenders, let alone pack up a home, move and get situated in a new location. Home buying can be made even easier during the summer months with an FHA Home Loan.

FHA Home Loans could very well be one of the best kept secrets in the mortgage world. As explained by the US Department of Housing, an FHA Home Loan requires miniscule down payments, as low as 3.5% in some cases, and closing costs and associated fees can be included in the loan and paid off over time. This makes it much easier for people and families to buy a house who don’t have a lot of money to invest up front and use to pay towards a down payment or closing fees.

What if you are buying a home that might need a little TLC in the next few years? An FHA Home Loan allows you to estimate the costs of necessary repairs and will lend you the money needed to make them. The costs of these repairs are rolled into your loan, making it much easier to pay them off over time and require no large up-front payments. In addition to repairs, homeowners are also able to add costs of making their homes more energy efficient in their loan, and pay nothing up front.

With so many benefits, it’s worth taking the extra time to find an FHA Loan certified lender and deciding if you could benefit from the perks of an FHA Loan. To get started on your search towards finding a lender in your area who can help you better understand these loans, visit FHAHomeLoan.org.

Guest post by: Jessica Thorseon at FHAHomeLoan.org

It’s going to be a hot incredible Country Thunder Wisconsin Lineup this week, held in Twin Lakes, Wisconsin yearly offering some of country music’s top artists. This year there are 2 stages, but my favorite are the acts on the Main Stage of Country Thunder, WIsconsin, starting on July 21: Sawyer Brown, Lady Antebellum. Friday’s lineup includes: The Charlie Daniel’s Band, and headliner Zac Brown Band. Saturday brings: Craig Morgan, Daris Rucker & Martina McBride. The Country Thunder Wisconsin Lineup concludes on Sunday, July 24th by offering: Easton Corbin, Sara Evans, Josh Turn & my all-time favorite group, Rascal Flatts, I’ll be there for this one, rain or shine. Other acts will be at the Frat House stage. I checked the Country Thunder website today and they still have single day & 4-day pass tickets available. Plan to drink plenty of water since the forecast is slated as a hot one for this week. Please contact Keefe Real Estate if we can provide you any additional information.

Watch a fireworks display to be held on Whitewater Lake, WI this coming Saturday, July 16th. The Fireworks Display has been an annual event for about the past 10 years. The event is coordinated by Jeff Widner and his staff at JNT’s Marine Pros. The Staff of Marine pros located just North of Whitewater Lake, WI sends out a letter each year asking for contributions for the fireworks display. Whatever contributions are received are then added to the contribution made by Jeff Widner. The Fireworks will be shot off of a barge near Parkside Marine on Whitewater Lake, WI at Dusk. Parkside marine will also be holding an open house that day and an on water demo display of fishing and pontoon boats. For more information on the Boats please visit JNT's Marine Pros.

Guest Post by Andy Szymanskyj of Keefe Real Estate, Elkhorn, WI

Walworth County ECO Fair returns being held at the Walworth County fairgrounds in Elkhorn, WI. Open 9-5 Friday and Saturday 9-4 Sunday. If you are interested in being GREEN then this is the place to get all the information you will need. People concerned about the environment and wanting to live a GREEN and healthy lifestyle should attend the fair. Green building, solar power, wind turbines, organic gardening and cooking with CSA produce. Ask your REALTOR about a free ticket.

Post by Carl Gustafson, Manager of Keefe Real Estate Delavan & Elkhorn offices

With the first two quarters of 2011 behind us; East Troy, WI real estate recorded 31 home sales. While there are still 97 homes available for sale, the 31 sales would set our absorption rate to 31.9 months. The Median Price for East Troy, WI home sales in 2010 was $205,000 and the 31 sales for the first half of 2011 showed a slight reduction in the median price range to $199,800.

The highest sale price in East Troy WI for 2010 was $1,650,000 and the low was $89,900. The highest sale price in East Troy WI for 2011, so far, is $748,000 and the low is $47,000.

What was your home selling or buying experience?

This information was pulled from the Milwaukee Metro MLS

For further details on your the market value of your home, please contact Andy Szymanskyj.

Post by Rob Keefe, President, Keefe & Associates

Of the various mortgage loan underwriting changes implemented after the financial meltdown, few have had as great an impact as those affecting condominium loans. Stung by big condo losses in Florida, Arizona, and Nevada, federal regulators have made getting a condo loan considerable more difficult. Remember that the federal government directly or indirectly controls over 90% of all new mortgage originations in the U.S. Let’s look at a few types of condos and the issues associated with each:

Second home-oriented condos of which there are plenty in our area, have become difficult to finance through FHA, Fannie and Freddie. The new FHA guidelines now require 50% owner occupancy in a condominium project. There are few resort condos in our area which meeting this guideline. Recommendation: work with a local lender for a loan they keep in-house. Expect to take out an ARM.

New construction condos. To be eligible for FHA underwriting, new construction condos must have 30% pre-sold and a have 30% owner occupancy. Again, your solution to work with a local lender. Most condo developers have pre-underwriting loan options available for purchasers.

Investor concentration in projects. The feds do not like any one investor owning too much of a given condo project. They have placed a limit of 10% of units under the ownership of any given investor.

Condotels/condo hotels. These projects have become nearly unfinanceable. They are not eligible for any government-backed mortgage. Work on your financing options early and expect to come with a large down payment.

Condo projects in financial difficulty. FHA would like to steer clear of any troubled condo projects. As such, mortgage underwriters must evaluate the income statement of the condo associations. Any projects in which more than 15% of the owners are delinquent on dues by more than 30 days are deemed ineligible.

Site condominiums, effectively single-family homes on condominium-ownership lots, are exempt from condominium underwriting requirements. This includes all the single family condominiums at projects such as Geneva National and Abbey Springs. These homes are underwritten the same as any other single family home.


The current condominium market in the Lake Geneva area has never been more favorable for buyers. There are some incredible deals out there which we will not see again anytime soon. Obviously, there are many issues to consider and obstacles to navigate when financing the purchase of a condo. Work on financing early and consider using a local community bank familiar with the condo project. Finally, give serious consideration to an adjustable rate mortgage with a fixed initial term.

Most people watching the real estate market realize that Walworth County foreclosures or Walworth County listings subject to short sale often sell at a substantial discount to “normal” properties. How much of a discount should sellers and buyers expect and what are responsible for these discounts?

Walworth County Short sales, properties which are being sold for less than the outstanding mortgage balance, are increasingly common in our marketplace. I’ve seen national statistics showing that these tend to sell at around a 10% discount to comparable neighboring properties. A quick glance at our local MLS confirms that this discount might be closer to 15%. I believe this discount is tied the difficulty of closing these transactions. Unlike a normal sale, there is a third party who must agree to the deal – the bank. Many banks are swamped with short sale requests and insufficiently staffed to manage the workload. Add to this the confusion of consumers and many Realtors to the approval process which varies from bank to bank and from area to area and you get a very convoluted and time-consuming process. We recently closed a short sale transaction which originally went under contract in December, 2011, nearly 7 months ago! The delay, uncertainty, and complication of the process imposes costs on the parties and this is reflected in the discount.

Walworth County Foreclosures, properties owned by the lender, sell at a significant discount. National statistics of a nearly 40% discount to neighboring properties might overstate the discount seen in the Lake Geneva foreclosure market. Our MLS data would suggest that foreclosed homes in Walworth County sell at a 30-35% discount to comparable neighbors. The reasons for this are obvious:
- marketing urgency: lenders wish to unload them quickly and will accept a discount in return for a shorter marketing time
- property condition: often foreclosures have suffered some level of damage or abuse which the buyer must correct
- stigma: buyers are aware of the foreclosed state and are unwilling to pay full-price on that basis alone

Note that these discounts are from current market pricing. In areas where the overall price level has dropped the discount is cumulative. For example, if property values in an area have dropped 25% since 2006, a foreclosed property in that area might sell for 48% of 2006 values (75% x 65%).

Post by Rob Keefe

Are you ready for the upcoming 4th of July at Lauderdale Lake? The Lauderdale Lakes Yacht will once again sponsor the annual fireworks display over Don Jean Bay on Saturday July 2nd at dusk (rain date July 3rd). Prior to the display come by and watch the Lauderdale Lakes Aqua Skiers FREE water ski show by land or by lake. 6 pm is show time. Have a safe holiday weekend and see you on the lake!



guest post by: Karen Ostermeier, Keefe Real Estate Elkhorn

Each year there are several options for viewing 4th of July Fireworks, ski shows, parades, and even picnics; this year the following locations are hosting events:

2011 4th of July Fireworks in Walworth County, WI

Geneva National hosts a picnic along with a spectacular fireworks display from 5-9pm on Sunday, July 3rd. They’re located at 1221 Geneva National Ave South, Lake Geneva, WI (4 miles west of Lake Geneva, WI) on Hwy 50.
Grand Geneva has turned their 4th of July celebration into a charitable one this year, asking that people bring 2 non-perishable items to benefit the Lake Geneva Food Pantry, if you are attending their fireworks display on Sunday, July 3rd at dusk, if you can get there a little earlier at 7pm there is the Brown’s Lake Aquaducks Water-Ski show. Location is: 7036 Grand Geneva Way, Lake Geneva, WI. For details on other events held that weekend, visit their Grand Geneva website. http://lakegenevawi.com/urlredirect.aspx?url=http://www.grandgeneva.com
Village of Fontana presents their fireworks display on the 4th of July at dusk at the Fontana Beach. 9-10pm.
Town of Delavan is offering an all day event including a parade a 3pm, with fireworks at dusk at Veteran’s Park, Delavan on the 4th of July.
East Troy hosts a longer celebration from July 2nd – 5th. It’s the annual Lions Club event which includes a car show, midway rides, and the ETBT (East Troy Beer Tent with live music). Their parade this year, which in my opinion is not to be missed, is on the 5th of July at 1pm. Fireworks with go off at dusk (usually 9pmish) on July 3rd.
Elkhorn annually hosts an ice cream social, sponsored by the Elkhorn 4-H club, followed by band concert Friday, July 1st at 7:30pm with fireworks starting again at dusk all at Sunset Park in Elkhorn.
Whitewater also will enjoy days of celebration from July 3-5th with a Free Family Festival at 312 N Whitewater St. July 3rd will be their fireworks display. July 4th features the Whitewater car show from 8am – 3pm, parade at 10am. July 5th brings on their water ski show at noon. For more details, they have a Whitewater website to visit.

So, wherever you choose to spend your 4th of July Celebration this year, make it a safe one and feel free to comment below on your experience in our area, or better yet email your photos to: info@keeferealestate.com (we may post these to our Facebook page, if you're not already a "liker", please check us out)

If we can be of any service to you, please visit us at Keefe Real Estate.

The papers are signed, the key is in your hand, and the next step is turning the new house you purchased into the home that reflects your personal needs and style preferences. Consider a visit to Paper Dolls Home Furnishings, where we have everything to make your house a home.

In our 10,000 square-foot showroom you will find excellence in home furnishings and design assistance. Our professional designers can help from the beginning stages of your house plans to the final finishing touches for your individual design requirements. Assistance with this important aspect of new homeownership helps avoid costly errors, saves time, and assures you that your home will reflect your taste and meet your family’s needs.

Our constantly-changing room settings, vignettes, and new merchandise, will keep you coming back for ideas as you progress with your design plans. We can advise on one room, or an entire household, depending on your schedule as you settle into your new residence. We also make in-home accessory calls or offer in-store advice to enhance your existing furniture. We are located at 138 E. Geneva Square, on Hwy. 120, with ample parking for your convenience.

Guest post by Paper Dolls Home Furnishings & Interior Design. Please visit our Paper Dolls website.

For many years Keefe Real Estate has closely tracked the sales price statistics for lakefront property sales on Lake Geneva, Delavan Lake, Lauderdale Lakes, and Lake Beulah. We have just added Whitewater Lake, WI to this list. At 640 acres, Whitewater Lake is a large, recreation-oriented lake in the Kettle Moraine region in northwest Walworth County, approximately 30 minutes from Lake Geneva, WI. Part of the Kettle Moraine state forest fronts on the lake and serves as the southern terminus of the Kettle Moraine leg of the Ice Age Trail.

Over 400 properties share the lake frontage on Whitewater Lake WI, with a mix of seasonal cabins, full-time homes, and vacant lots. The average sale price for Whitewater Lake frontage in 2010 was just over $4,700 per running foot (inclusive of land and buildings). Comparing this to Delavan Lake and Lauderdale Lakes in the $7,000 per foot range or Lake Geneva in the $20,000 per foot range, it’s easy to see the great value represented by Whitewater Lake property. At this writing there are 16 active listings on the lake from $249,000 to $2.3M. Click on our “Lake View in Depth” link to see what’s listed today.

Post by Rob Keefe & photo courtesy of Mick Balestrieri of Keefe Real Estate