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25984 Depot
Calumet, MI 49913
$149,900
Conventional
Property
Bedroom
4
Bathroom
1
Property Type
Conventional
Square ft
1782
Property Description
Located on a large corner lot, this house harkens back to the golden age of entertaining. Host your friends and family on the covered deck that overlooks an above-ground pool. Or step inside in cooler weather and gather in the groovy kitchen/breakfast nook. The décor throughout much of this home has come full circle and is popular again. Rounding out the main floor are laundry facilities in the kitchen, a dining room off the kitchen, and a spacious living room which a previous owner used as a bedroom. Upstairs you’ll for 4 bedrooms and a full bath. Two bedrooms do not have closets but you could convert one of the smaller bedrooms into a walk-in closet. One large bedroom has a wood space heater. The third floor has 2 unheated rooms great for storage or with a little work could be used for living space. Seller has not lived in the home but some updates are obvious like many newer windows and 100-amp circuit breakers. Roof and siding appear to be in good condition. Pool has not been used in years and may need repairs. (Buyers should include an inspection in their offer for verification of condition). Long story short, this house has lots of space and great potential. Seller prefers to leave most of the contents. Access to the basement is through the trap door in the breakfast nook. This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage, lot size /dimensions, and age are approximate. Buyer must verify the information and bears all risk for inaccuracies. Taxes may change upon sale.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
--
MLS Number
50136834
Location
Address
25984 Depot
City
Calumet
State
MI
Zip Code
49913
County
HOUGHTON
Listing
Provider
Douglass Real Estate, Inc DBA RE/MAX Douglass Real, original listing
Name
Douglass Real Estate, Inc DBA RE/MAX Douglass Real
Phone
(906) 482-1000
Office Name
RE/MAX DOUGLASS R.E.-H
Office Phone
(906) 482-1000
Agent Name
GRETCHEN JANSSEN

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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.

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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.