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5150 Cheyenne Avenue
Waterford, MI 48327
$599,900
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
1800
Property Description
Step into the ultimate transformation of 2023 with this amazing 3-bedroom, 3-bathroom modern farmhouse nestled along the serene canal front of the iconic All Sports Cass Lake. Picture yourself stepping onto the charming front porch, complete with cedar columns, metal roof awnings, and copper railings – it's like stepping into a tranquil retreat. Inside, you're greeted with a spacious layout and abundant natural light streaming through. But here's the real kicker – almost everything here is brand spanking new! From the roomy mudroom perfect for storing outdoor gear to the three luxurious bathrooms, everything has been thoughtfully designed and recently renovated. Plus, two of those bathrooms feature sleek euroglass shower doors for added elegance. With a two-car garage and a full basement offering plenty of storage space, you'll have room for all your belongings and more. And let's not forget the master bedroom – it's a true sanctuary with its own en-suite bath and a spacious walk-in closet. No more lugging laundry up and down stairs either – the second-floor laundry hook-ups make that chore a breeze. And with new electrical, plumbing, mechanical, and roof systems, you can move in with complete peace of mind. Outside, the freshly poured asphalt driveway adds to the curb appeal, inviting you to explore your new surroundings. And being situated on a corner lot in a secluded neighborhood with access to a voluntary neighborhood association and boat launch on Cass Lake? It's the perfect setting for your lakeside lifestyle dreams to come true! Adjacent lots also for sale MLS#20240003330 and MLS# 20240003332. Seller open to package deal for all. The water levels of Cass Lake are managed by the water commission, with adjustments typically made around Mid-April for raising and November for lowering. It will be raised.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1947
MLS Number
20240015194
Location
Address
5150 CHEYENNE Avenue
City
Waterford
State
MI
Zip Code
48327
County
OAKLAND (NORTHWEST)
Listing
Provider
Five Star Real Estate LLC, original listing
Name
Five Star Real Estate LLC
Phone
(616) 791-1500
Office Name
Five Star Real Estate-Commerce
Office Phone
(248) 313-2880
Agent Name
Marcy Soufrine

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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.