Home for Sale at 7689 &AMP 7388 PELLS ISLAND, PELLSTON, MI 49769

7689 &amp 7388 Pells Island
Pellston, MI 49769

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Property Details

List Price:	$1,300,000
Beds:	7
Baths:	3
Status:	Active
SqFt:	2820
Agency:	Coldwell Banker Schmidt Family Of Companies

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	2006
Notes:	Discover an extraordinary opportunity to own a one-of-a-kind waterfront estate featuring a charming island house and two cozy log cabins on the mainland. This property comes fully furnished and includes docks, ready for you to enjoy or rent out. The island house boasts 117 feet of waterfront on the west side and 148 feet on the east side. Custom-built in 2006 by Wentworth Builders of Harbor Springs, the home is log-sided with an interior finished in tongue and groove red oak and pine. Thermo Anderson windows ensure energy efficiency, and a 6-inch well reaching 130 feet deep provides ample water supply. The house features central heating and a Vermont wood stove, perfect for cozy winters. Outdoor spaces include a large deck and a screened-in porch, ideal for enjoying the stunning views. Inside, the home offers three spacious bedrooms and one well-appointed bathroom. A unique highlight of this property is the ability to watch the sun and moon rise with the soothing calls of the loons. On the mainland, the property includes two log cabins with excellent rental histories. Cabin #1 features three bedrooms and one bathroom, while Cabin #2 offers two bedrooms and one bathroom. Both cabins are popular with renters who return year after year, providing a steady rental income potential. The property is conveniently located near the Douglas Lake Steak House and sits along the scenic Douglas Lake, a 3,700-acre lake approximately 6 miles long and 3 miles wide. The University of Michigan owns 42% of the waterfront and 10,000 acres in the Douglas Lake area, preserving the natural beauty of the region. Additionally, the location offers easy access to nearby towns, being just 30 minutes from Petoskey and Harbor Springs, and 15-20 minutes from Mackinaw City and Cheboygan. This property is perfect for those looking to embrace a tranquil waterfront lifestyle with the added benefit of potential rental income. Enjoy serene island living with easy access to mainland amenities.
MlsNumber:	473885

Listing Provided By:	Coldwell Banker Schmidt Family Of Companies, original listing
Name:	Coldwell Banker Schmidt Family Of Companies
Office Name:	Schmidt Realtors
Office Phone:	(231) 526-1100
Agent Name:	Steve Witte (HS)
Disclaimer:	Copyright Â© 2024 Coldwell Banker Schmidt REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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.

Free Foreclosure Listings

USHUD.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With USHUD.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like USHUD.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

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.

USHUD.com is a private company not affiliated or associated with or endorsed, authorized, approved, sponsored
or licensed by the US Department of Housing and Urban Development

USHUD.com is an Equal Housing Opportunity

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