Home for Sale at 7503 00.25, Garden, MI 49835

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7503 00.25
Garden, MI 49835

TRAVIS WOOD with GROVER REAL ESTATE, original listing - (906) 341-2131

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Property Details

List Price:	$949,000
Beds:	3
Baths:	Full: 3, ½: 1
Status:	Active
SqFt:	3458 Square Feet
Agency:	GROVER REAL ESTATE
Agency Phone:	(906) 341-2131

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Description/Comments

Lot Size:	6 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1987
Notes:	Sitting comfortably on a sprawling 6.8 acre waterfront parcel, this exceptionally built home exudes luxury and sophistication in the heart of Michigan’s Upper Peninsula. The home (which was already incredibly well built) underwent an extensive renovation just over a decade ago, resulting in a truly striking home with custom details and high end finishes everywhere you look. Every detail of the home has been meticulously renovated from top to bottom using the finest materials available. From custom birch cabinets, to striking granite countertops, no expense was spared in creating a space that blends luxury and comfort, making it truly one of a kind. The generous living spaces are spread out over three levels, giving you plenty of space to spread out and make yourself at home. The property offers a bit of everything, from beautiful hardwood forest, open lawn, 100s of feet of sandy beach waterfront, and perhaps most unique of all: a custom built stone marina/ boat pier facility. Imagine walking out your back door, and down to your private boat dock, where you can enjoy easy access to your watercraft of choice. Days can be spent exploring Lake Michigan, or relax while enjoying beautiful sunset cruises in the Bay. And speaking of sunsets, you’ll quickly notice that this unique property is oriented in the perfect direction, and elevation to capture the most colorful and vibrant sunsets which light up the sky night after night. If you are looking for that perfect blend of privacy and seclusion, modern convenience, and the best of all that the beautiful Upper Peninsula has to offer, you may have finally found just what you are looking for!
MlsNumber:	--
ListingId:	50157636

Listing Provided By:	GROVER REAL ESTATE, original listing
Phone:	(906) 450-5080
Office Phone:	(906) 341-2131
Agent Name:	TRAVIS WOOD
Disclaimer:	Copyright © 2024 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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