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223 Petrie Road
Cadillac, MI 49601
$1,175,000
Conventional
Property
Bedroom
6
Bathroom
6
Property Type
Conventional
Square ft
4306
Property Description
Simply stunning with a huge WOW factor begin to describe this waterfront home on beautiful Lake Cadillac! This home has been completely and tastefully renovated inside and out, and is ready for your family and friends. Designed for gathering and entertaining, the main floor boasts a large open kitchen and living room concept. The kitchen has a sprawling island, two separate sink areas, exquisite backsplash tile work, and then the showcase AGA 83" dual fuel range, which you must research to be amazed! Warm hardwood plank flooring runs throughout this area, as well as the dining and bar area. The primary bedroom offers relaxing lake views, and more extensive tile work in the bathroom. There are two more bedrooms on the main floor, with one of them being its own private suite! The WOW factor continues in the lower walkout level. There is a large rec room space with a 12' glass slider, a 4th bedroom offering lake views, and a spacious guest bathroom. Then there is the well thought out designated kids or guest area. This contains another rec room, two bedrooms with built in beds for up to 8, and a bathroom that features two separate showers, two lavatories, and a gorgeous three bowl vanity! Outside is where the lakefront fun begins. The 115' of water frontage provides a gradual sandy bottom and breath taking sunsets, and an added bonus of almost 4000 acres of water to explore between the two lakes. There are three large glass doors leading to the 95' of brand new deck, along with multiple picture windows making the inside feel like you are outside! Be sure to watch the video walkthrough, and then this is a must see to take it all in. There were no dollars spared in the renovation, not a room left untouched, and not a detail was missed. Come see if this could be your forever paradise! With a full price offer, this home could come completely turn key with all the furnishings, dock, boat, and hoist!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1944
MLS Number
1913483
Location
Address
223 Petrie Road
City
Cadillac
State
MI
Zip Code
49601
County
WEXFORD
Listing
Provider
Five Star Real Estate, original listing
Name
Five Star Real Estate
Phone
(616) 791-1500
Office Name
Five Star Real Estate - Shelby St Cadillac
Office Phone
(231) 733-3080
Agent Name
Greg Bosscher

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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.