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5795-5841 Lakeshore Avenue
Holland, MI 49424
$4,995,000
Conventional
Property
Bedroom
9
Bathroom
8
Property Type
Conventional
Square ft
14877
Property Description
Don't miss this incredible opportunity to own three waterfront Lake Michigan homes nestled on over 9 picturesque, wooded acres. With an impressive 400 feet of frontage and over 1000 feet of depth, this property boasts a prime location, breathtaking sunsets, and a sprawling sandy beach. Such opportunities are few and far between, making this a truly rare find. Currently configured as a family compound, the three homes offer a range of possibilities. With a low/medium bluff on Holland's north side with sandy beach, the true value lies in the expansive land itself. The homes are being sold ''as is,'' and occupancy is negotiable. This rare ''trophy'' property, which has remained in the same family for decades, offers a unique chance to own your slice of paradise on Lake Michigan. 5795 Lakeshore is being rented weekly this summer, 5807 is seller occupied, and 5841 is being used mainly as storage and workshop. 5795 Lakeshore features a spacious 1738 SqFt main floor and a 1467 SqFt finished lower level with vaulted ceilings. The main floor has 3 bedrooms, 1 full bath, 1 half bath, bonus loft area, and a lakeside screened porch. The lower level includes a full bath, large laundry area, and bunk room/game area. Enjoy the sound and views from the lakeside deck and enjoy private beach stairs to access the wide and sandy beach area. 5807 Lakeshore is a 2-story home with vaulted ceilings and a 2678 SqFt main level. The main level includes 1 bedroom, 1 full bath, theatre room, billiards room, a spacious open concept kitchen/dining/living area, and a large lakeside screened porch. The 1362 SqFt upper level has 4 bedrooms, 1 full bath and several access points to the wraparound deck. The lower level boasts an incredible library space, half bath and is about 1672 SqFt. 5841 Lakeshore is a 2-story building with a main level bedroom and two full baths. The 3124 SqFt main level also includes a full kitchen and living area and a large portion being used for storage. The upper level about 2836 SqFt is currently dedicated to storage. The 3107 unfinished lower level is utilized as workshop.
Property Information
Lot Size
9 acre(s) square ft
Property Type
Residential
Year Built
1937
MLS Number
24002662
Location
Address
5795-5841 Lakeshore Avenue
City
Holland
State
MI
Zip Code
49424
County
OTTAWA
Listing
Provider
Coldwell Banker Woodland Schmidt, original listing
Name
Coldwell Banker Woodland Schmidt
Phone
(616) 396-5221
Office Name
Coldwell Banker Woodland Schmidt
Office Phone
(616) 396-5221
Agent Name
Andrea Crossman

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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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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.