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5358 S Seeley Road
Cadillac, MI 49601
$410,000
Conventional
Property
Bedroom
3
Bathroom
4
Property Type
Conventional
Square ft
2920
Property Description
PRICE REDUCED... Welcome to your homestead oasis! Exceptional three-bedroom, three and a half bath, two-story home on five private wooded acres, just east of Cadillac. Spacious foyer entrance leads either up to the main floor living areas or down to the finished basement. Enjoy a large open kitchen with eat-in bar, newer black stainless steel kitchen appliances, and full pantry. Charming farmhouse kitchen is open concept flowing into the separate dining room space, and a sliding glass door that leads out to the back deck. Gorgeous living room area with knotty pine cathedral ceilings, extra-large windows and multiple skylights that provide tons of natural light. There is a wood-burning fieldstone fireplace in the living room that gives the entire space a warm and cozy feel. Upstairs, enjoy the huge master suite with gas fireplace, dual closets, as well as a large private bath with double vanity. Lower level has a fantastic newly finished family room. There is also a fourth non-conforming bedroom/home office on the lower level as well as another bathroom with a footed soaking tub. Fresh paint throughout. The home has a two-car attached garage as well as a 24x32 pole barn that is insulated, heated, with water, and electric. Outdoors, plenty of space for anything and everything! Back deck, three balconies, all with scenic views. The fenced backyard has plenty of space for kids and pets. Plenty of open space for a hobby farm or garden area. Covered hot tub is included in the sale as well. Seller has put more than $40k of improvements into this property in the short time that they’ve owned it: new water heater, tree removal, covered gutters, mini splits for additional heat and A/C, driveway, garage improvements, and family room updates. Located close to snowmobile and cross-country skiing trails, as well as the lakes and just a short drive into town! Immediate possession and move-in ready.
Property Information
Lot Size
5 acre(s) square ft
Property Type
Residential
Year Built
1995
MLS Number
1917746
Location
Address
5358 S Seeley Road
City
Cadillac
State
MI
Zip Code
49601
County
WEXFORD
Listing
Provider
Five Star Real Estate - Mitchell St Cadillac, original listing
Name
Five Star Real Estate - Mitchell St Cadillac
Phone
(231) 842-1200
Office Name
Five Star Real Estate - Mitchell St Cadillac
Office Phone
(231) 842-1200
Agent Name
Sara Hoffman

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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.