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277 Lakewood
Marquette, MI 49855
$2,450,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
2376
Property Description
This ONE OF A KIND, Stunning Custom Executive home situated on the shores of Lake Superior is something to behold! Upon making the slight turn from the driveway, you immediately know you're going to experience something special. The brick and stone exterior along with the circular drive makes for a breathtaking first impression. From the minute you enter the foyer you will feel the warmth of home. Passing the spacious office, this well designed floorplan opens up in front of you with vaulted ceilings and huge windows flooding the space with light. Take the custom oak spiral stair case to the 140sf loft and get lost in the view of the ever changing Lake! Between the living room and the kitchen, take advantage of the additional space for informal dining overlooking the spacious 628 sf deck, bayou and lake. The perfect place to sit any time of the day or night to watch the Ore boats cruise by and / or the wildlife. Eagles are a common sight. The well appointed kitchen makes food preparation a pleasure. Everyone will want assist with dishes looking out at the incredible vastness of the water. Behind the kitchen you'll find a large guest room and full bath just across the hall with heated floors for those chilly winter days. Beyond the guest room is the laundry room, the staircase to the lower level and the garage entrance. Continue circling back to find yourself in the formal dining area adjacent to the foyer. Continuing past the foyer you'll enter the primary suite encompassing the entire west end. The spectacular primary large bedroom also boosts stunning views of the lake and bayou, making this an idyllic place to wake up. Fill up the Jacuzzi tub, light some candles and take a relaxing soak. Also included is a separate shower, two walk in closets and private water closet. Head downstairs to find a full lower level of equally impressive space and views! The only room designations in the lower level is a large bedroom, full bath, furnace & utility rooms. The remaining space is open for your imagination. Not only does this property have beautiful 100 feet of SANDY BEACH lake frontage, you also have the bayou for bird watching. This custom home was designed with convenience in mind from the heated floors, central home/garage vac., full home fan just to name a few. What a meticulous plan. The large 24x32 attached heated garage has ceramic tile flooring, hot/cold running water. Adjacent to the garage is full RV hook-up with electric, water & sewer. In case you need more space for toys.... the 30x40 detached garage down the driveway should help, complete with drywall, electric and phone outlets. The sellers hand picked approximately 5,000 pounds of rock to surround this property with natural landscaping. Who's ready for a lifestyle change? Drone footage will be available, have your agent reach out to the Listing Agent for access.
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
1999
MLS Number
50139270
Location
Address
277 Lakewood
City
Marquette
State
MI
Zip Code
49855
County
MARQUETTE
Listing
Provider
JOHN DEMAY REAL ESTATE LLC, original listing
Name
JOHN DEMAY REAL ESTATE LLC
Phone
(906) 362-1000
Office Name
EXP REALTY OF MARQUETTE
Office Phone
(888) 501-7085
Agent Name
LINDA JOHNSON

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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.