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678 S Alger Road
Ithaca, MI 48847
$715,000
Conventional
Property
Bedroom
3
Bathroom
2
Property Type
Conventional
Square ft
2000
Property Description
~Acres Upon Acres~ Inviting ranch home offers an alluring open-concept floor plan with this beautiful offering! Stunning wood flooring, oak doors, trims, and oak kitchen, with 6 ft wide granite bar, seating in this custom-built oak kitchen with pull-out drawers and soft close features. The kitchen offers (home remodeled in 2012) white appliances with canned lighting for great soft lighting. Off the kitchen is an appeasing pantry home to laundry hookups, water heater, furnace & newer central air, & updated electrical service panel, including hot tub wiring to the deck area. The living room is open to kitchen/dining & offers spacious living with a quaint brick fireplace and airtight stove for efficiency and a cozy fire. The main floor bath has granite flooring and is fully updated, while three spacious bedrooms with newer carpeting are down the hall. The primary bedroom is an on-suite with a full bath and a walk-in closet. The home has a spacious family room on the south end with picturesque views of the backyard, woods, and the large deck. All vinyl replacement windows are still under warranty. The newer well has a 4-5 ' casing and an updated, oversized septic and drain field. The seller is selling the remaining firewood in the backyard; please see the list on the kitchen table for personal items for sale. The crawl space is 4', and the entrance is on the pantry floor. Numerous fruit-bearing trees and bushes, grapes, asparagus, hardwoods, and pines are scattered throughout the yard. If the buyer does not purchase all 75 acres as one sale, the seller may offer alternate options: parcel a: vacant land woods and tillable, parcel b: 20 acres w/hse and barns with tillable and woods, and parcel c: 200' road access land option with tillable and woods. See associated docs. The detached barn on the south side will remain locked.
Property Information
Lot Size
75 acre(s) square ft
Property Type
Residential
Year Built
1971
MLS Number
1921690
Location
Address
678 S Alger Road
City
Ithaca
State
MI
Zip Code
48847
County
GRATIOT
Listing
Provider
COLDWELL BANKER MT. PLEASANT REALTY, original listing
Name
COLDWELL BANKER MT. PLEASANT REALTY
Phone
(989) 773-5972
Office Name
COLDWELL BANKER MT. PLEASANT REALTY
Office Phone
(989) 773-5972
Agent Name
Deb Morris

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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.

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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.