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701 N Stony Point Road
Suttons Bay, MI 49682
$2,850,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
3243
Property Description
East Coast charm melds with the natural beauty of Lake Michigan with this stylish lakeside home designed by renowned architect Glenn Arai, known as an unsung modernist master. Ideally situated on a double lot at the tip of the coveted Stony Point, you’ll relish beachfront activities with 200 ft of private sandy lake frontage and unmatched panoramic views of Suttons Bay. A 2020 renovation tastefully incorporated an updated east coast vibe while honoring the architect’s modern design that emphasizes clean lines coupled with elegant aesthetics. The main house boasts three bedrooms, three bathrooms and three cozy living areas, each with a wood-burning fireplace and plentiful windows to enjoy stunning lake views. The French-inspired kitchen features high-quality fixtures and finishes including a Lacanche range, Sub-Zero refrigerator, farmhouse sink, porcelain island, custom cabinetry, highlighted by exposed wood beams. The primary suite doubles as a private sanctuary including a spacious bath with sunken tub and walk-in closet. A lofted bedroom has been converted to provide a functional home office. Each bathroom is adorned with luxurious Italian marble showers, flooring, and vanity surfaces. A carefully crafted den utilizes space under the stairway for an area to relax and enjoy television. The home’s exterior exudes the same charm with durable Cedar shake roof and siding, a spacious outdoor deck surrounded by carefully planned landscaping that accentuates this beachfront oasis. A detached tiny home awaits your vision with possibilities that could include overflow living, rec room or artist studio. This delightfully chic lakeside home provides a year-round lifestyle that can include beachcombing, watersports, cozy winter retreat and nearby trails, restaurants shops and the best Leelanau has to offer.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1978
MLS Number
1921215
Location
Address
701 N Stony Point Road
City
Suttons Bay
State
MI
Zip Code
49682
County
LEELANAU
Listing
Provider
Schaub Team Premier Realty, original listing
Name
Schaub Team Premier Realty
Phone
(231) 674-5950
Office Name
Schaub Team Premier Realty
Office Phone
(231) 674-5950
Agent Name
Roger Schaub

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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.