The Mail-Journal, Volume 29, Number 17, Milford, Kosciusko County, 6 June 1990 — Page 10

10

THE MAIL-JOURNAL — Wed., June 6,1990

Area realtors, contractors busy —

Wawasee lakefront property . . .

By JENNIFER WOODWARD Staff Writer

Purchasing lakefront housing and property in the Lakeland Area can be a unique experience for the wouldbe homeowner. As many realtors throughout the area have quoted, “It’s an emotional buyer.” People want a home on the lake, and since many are second homes for seasonal pleasure, many times they will purchase without a second’s thought. As it has been stated again and again throughout the real estate community, there is no set price in regard to lake property. Every property is unique. Prices can range so drastically, that no one

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5,500 SQUARE FEET — The 5,500 square foot home is currently under construction by Star Builders. Completion is expected the first

Wowosee Village WAWASEE SPINK CONDOS 457-4678 Or Pre-Owned 3 Bedroom, 2 Bath, apaf 2 Car Attached Garage, Just Under 1600 Sq. Ft. $225,000 DEWART LAKE EASEMENT NIW lIST,NG __ , _ _ , , _ , Eden Shores, Webster Lake Channel, 3 3 Bedrooms, 2 Baths Large Screened- Bedrooms 1 Bath In Porch n.d.c.d its,<oo $53,900 o>ins49,ooo_ BKSfi LAKEFRONT WAWASEE ’"TT. NATTI CROW BEACH SYRACUSE LAKE 5 000 Sq. Ft. Plus. 6 Bedrooms. 3'/i North Shore Drive 4 Bedrooms. 2 Baths, Beautiful Sunsets, East Shore. Baths, Fireplace, Close To Maxwelton Wide Sand Beach, 2 Fireplaces, 3 Golf Club Levels Os Living ONLY $195,000 $695,000 3 Bedrooms. 2-Baths,- Immediate aPSHRkRPHRHI Possession Boat Lot Included En- KniAIABTU EADECT chanted Hills tPWURTM FOREST 000 Webster Lake Easement $34,500 BRAND NEw LISTING! *o* B 1 Syracuse Lake V -J| North Shore Bu< 11 I n 1986 «• 4 Bedrooms 50x200 Lot DiW»»T UK ACCESS 2c ’, B & h ,‘ w 2 Bedrooms, Living Room Kitchen $26,500 Priced At $289,900 OPEN HOUSE! Wawasee WAWASEE LAKEFRONT LOT SOlllk 60x240 Great Bwach. Good For _ * Walk Out Basement $250,000 C OndOtH ItlllUM C Also Channel Lot On Kuhn Lake VVIIMUIIIIIHUIIW 69x81. Lake Easement With teach Area $14,000 Channelfront Wawasee 60x200 Prices Starting At I I Treasure Isle Rd. $13,000 I Channel Access From $4,000 Tt $7,000 245 000 Thinking Os Selling? ' Call Us For A No-Obligation Open House Every Mttrikaf Analysis Os Year Sat. & Sun. Home Or Property 1 To 4 P.M. NORTH SHORE ESTATE, SYRACUSE 16 Lots — 3 Lots Left Starting At $20,000-539,900

can give an average price. A representative of Todd Realty explained that housing can range from $165,000 all the way up to $750,000. Phil Beer of Coldwell Banker — Beer, Realtors believes that most fall between $250,000 and $400,000. However, Barbara Todd of Star Realty believes that there is not much to offer under $300,000.

'Houses on the lake started out as fishing shacks. People used them to clean their fish and spend the night. ..'

Sandy Beaty of Century 21 - Beaty Realtors doesn’t see the prices as being ridiculously high,

“It’s very normal for supply and demand.” Lynn Kerber of Pier 13 agrees, “Prices are set by a willing buyer and a willing seller.” Real estate property on the lakes has always been on the rise. Many believe that prices jump every year by 15 to 20 percent, and that in the past four years it has doubled. Last year, Lake Wawasee hit an all time record

when the first million dollar home was sold. Many people will buy a home purely as an invest-

of August. The home is being built for year round living but it will be used for seasonal purposes. (Photo by Jennifer Woodward)

ment, Ernie Rogers of Logan Rogers Realty states, “Anything on water, especially Lake Wawasee, is a very good investment.” Linda Jaggers of Realty World agrees, “I'd put my money there.” “Old money has always lived on Lake Wawasee, those families with money during the Depression or bought property during that time,” explains Beer. He notes that he just appraised a lakefront house that was bought in the early 1940 s for $34,000, today is being sold for $400,000. Rebuilding Underway Today buyers are running into

‘ETodcf I NEW LAKEFRONT LISTINGS!!! I NEW LISTING... I Hu t"" HHTuw ii22m23— 1 I RUNAWAY BAY NO. 42 3 bedroom lakefront condominium at ■ Runaway Bay . . . enjoy the beautiful sunsets from your front porch. ■ Close to the pool, carport with storage. $229,900 .l— ■ REDUCED... TI I I MARSH HARBOR 1 bedroom Marsh Harbor condominium reduced ■ to $59,900. We Have Lots Os Lakefront Listings From $35,000 NOW RESERVING NEW WAWASEE LAKE CONDOS CALL FOR DETAILS! Want To Build Your Next Home? Woir Representing T.L Jackson Construction Call For Details ■ W *XMoir*M.tuiTir ui.ca.cn.caa.M« • ta.M.iuiTir .Ma ■ «Mr«m.nMrw inta inanw u«i»4, •at tetch. lunir uim« m -MrarMaMULTir .ttl.MHtaMa.ti • 3mm hsu. lUUtt' .CM into . M 'MFatMTW* .ttl. Irate - tarn MM. tULTtt- Mn tarn M • Mt» MOtan. umr tti Bute .IM I* luttar . ttl CM. ■! ttl Irate ■Jll 457-4417 fei j| M.HXM7 trneta [ Homes Foil LIV1I1G? I

problems of land not being available or prices being way too high for their budget. “Many times people get sticker shock - they come in not having any idea of the property value,” explains Beaty. Buying a home, tearing down and rebuilding is on the rise, especially on Lake Wawasee. People are building what they want rather than settling for an outdated home. Beer states that homes in the $250,000 range are those close to being torn down, “They’re older, comfortable and wouldn’t work as a primary residence.” Such is the case of John Augsburger of Syracuse. Augsburger is currently in the process of rebuilding a home on Lake Wawasee. The cottage and lot, (50 feet of lake frontage), were bought by his family in the

late 1940 s for a mere $4,000. Augsburger had originally planned to remodel the 60-year-old cottage. however, all electrical work needed to be removed, insulation and Thermopane windows installed. “The prices for remodeling cost more than to rebuild a new home.” Augsburger is planning to make his new home a yearround residence, rather than a summer cottage. He explained his costs were rather minimal compared to other property owners, since he already had the lot. The price of a lot and a new home run about the same, therefore Augsburger had half

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NEWCONDOMINIUMS — These condominiums are being installed by D and T Development on the south-eastern shores of Lake

the cost. T.L. Jackson Construction will rebuild tvd to three houses a year on Lake Wawasee. Jackson explains thitmany homes that are on the market do not fit a buyer's needs, ‘Houses on the lake started cti as fishing shacks. People woild use them to clean their fist and spend the night. Later they! would start bringing friends o r «r and then just added on to the house.” Gary Green of Green Construction agrees that homes an being built or remodeled to fit the owner’s needs. He states thst more people are starting to ive on the lake year round, inlike 10 years ago, “We’re jutting in more insulation, furiaces, and air conditioning.” Ahouse that cost $34,000 in 1940, is selling for $400,000 today. Sometines a homeowner will tear dowi before he has applied with the health department for well and teptic permits. Jon Cupp of the Kosciusko County Health Department explains that permits are’ranted on a site by site basis, “"here is no automatic grandfafaering in getting approval.” Before a person tears down a bme he or she must file an application for a well and septic permt. He or she must also submit agood and very clear site plan in older to receive approval. Receivin’ a sewer permit can be difficult at times, but Beer believes the new sewer system being insailed at Wawasee Lake will helpilleviate the problem. Charnels Popular, Too Lakefnnt property is becoming mon and more extinct, peo(Coitinuedonpagell)

LAKE WAWASEE. PIER 185 — Luxurious lakefront estate Quality construction with exquisite appointments. Excelknt beach, boat house. IV2 story 3 car garage. MY REAL ESTATE IWf” j Cal Badskey Realty 834-2695 /, Mid-Lakes Shopping Center, North Webster A B* “ ® E Very anxious to sell love WEBSTER LAKEFRONT — Well con-■ ly Tipx :onoe lakefront home. Nice structed very unique home, beamed J area, 2 ots, 4 bedrooms. Very nicely ceiling, all wood interior, open stair-H furnisMl Porch, carport, seawall, way. fireplace, enclosed porch, HI H pier Frle $137,900 garage. Recently reduced to $89,900. Kb H Jertf idtkey, Owner/Breker, M 081 S, CHA 8)4-2695 Rich Litchfield4s7-8664 fc *»<• Mowe 034-7005 issne NiMipi 134-7120 | Joe I kkerto34 7410 ClmHm SfMmen, Broker 433 3417 E Won |l« 134 2037 JUy Wynne 054.4424 I ■ Doom Broker, Ml 504.3443 Berate Kissel, Broker, Ml, CBS, M Iran Grasp, Broker 034-4040 C8M453-4200 J

‘"mtl IX> - ,r > A . •’-Ax.- iCSL . *>,' ■? -'aAi -'3&i QIHE xS, x. t* •. <• ■.W .. Si 71 : art®r4»ii 'a IF ’ M "r & ; v .MSB *4 MMMB i> ! iiMf ; ikii IIP teji’ ——M. m nr. - 1 "fr—- •>.*'■ - T " '..u% • ■ • .. - Ls". • • xx.xxoz*-- z. -. zzi; ?' ... »«»..•< .... ~~ — . * . x - . r-x.. -MW. AUGSBURGER HOME — John Augsburger, Syracuse, tore down his family cottage to rebuild this new home on the lot. Star Builders is constructing the modern home for the Augsburgers. (Photo by Jennifer Woodward)

Wawasee. There are 21 units and completion is set for July 1. (Photo by Jennifer Woodward)

11 >, fAjC |M CONSTRUCTION WORKERS BUSY — Construction workers are busy this spring as many new homes are being built on area lakes. This 5,500 square foot home is being constructed on Lake Wawasee by Star Builders. (Photo bv Jennifer Woodward)

<ss> REALTY WORLD' Professional Group REALTORS® .. _ Pickwick Rd., Next To Dairy Queen (Lake Wawasee) Mary C. Hippe jfnl Syracuse, Indiana 46567 BROKER/REALTOR [Wfieil Bui.: (219) 457-2799 Member L - k Res.: (219) 457-5453 Million Dollar Club Each Office Independently Owned & Operated