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5925 E Filion Road
Port Hope, MI 48468
$115,900
Conventional
Property
Bedroom
6
Bathroom
3
Property Type
Conventional
Square ft
2460
Property Description
Incredible opportunity to own a beautiful piece of history! This 200-year-old, 1 family-owned farm sits on 2.5 acres in the center of the beautiful Port Hope, located in Michigan's thumb. Just a few miles from Lake Huron and the border to Canada, just imagine the amazing potential for a Bed and Breakfast, destination wedding venue or that hobby farm you have always dreamed of! The 6-bedroom farmhouse used to house the lumberjacks of Port Hope. When it was built, it was designed as a multi-functional home. One half was home to the family and the other half was used as a unique bunkhouse for the local axmen. Can you imagine a more interesting story and history to tell your guests as they make themselves comfortable in one of the 6-8 eclectic bedrooms? The den offers its own secure entrance, original hardwood floors and a hidden staircase that leads to the second floor. The spacious living room leads to the large deck overlooking the beautiful property. The enormous formal dining room opens to the first-floor Primary bedroom suite, office and kitchen. The adorably eclectic, eat-in kitchen is bright and cheery, with a glorious walk-in pantry that leads to a full bathroom and first-floor laundry room. Through the office, you will find the second hidden staircase. Up the stairs you go to find 4 bedrooms with sizable closets and a half bathroom that looks like it's straight out of a dollhouse. Just when you think the tour is over, there is more! Through one of the bedrooms, you will find the 5th hidden bedroom. One more surprise, another hidden room through a bookcase! You must see it to believe it! Exploring the property offers even more incredible surprises with the barns, garages and outbuildings. The property has been priced aggressively to reflect some significant deferred maintenance and is being sold AS IS. It will need a new roof, some ceiling repairs due to water damage and a new front porch. Don't miss this amazing opportunity to bring this historic beauty back to its original splendor!
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
1859
MLS Number
279330
Location
Address
5925 E Filion Road
City
Port Hope
State
MI
Zip Code
48468
County
HURON
Listing
Provider
Tomie Raines Inc., original listing
Name
Tomie Raines Inc.
Phone
(517) 351-3617
Office Name
Berkshire Hathaway HomeServices Tomie Raines
Office Phone
(517) 351-3617
Agent Name
Elizabeth Fleckenstein

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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.