Home for Sale at 7048 LINCOLN Street, Brown City, MI 48416

7048 Lincoln Street
Brown City, MI 48416

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Property Details

List Price:	$259,900
Beds:	4
Baths:	2
Status:	Active
SqFt:	2000
Agency:	Greater Thumb Realty DBA Century 21 Hart Realty

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	1960
Notes:	This home packs a big punch! We're talking about 4 bedrooms, 2 full baths and a LOT of living area. The large living room features a beautiful natural gas fireplace and is open to the kitchen and dining area. The kitchen come with a full set of appliances and features an eat in bar area. The primary bedroom is painted in calming colors, offers lots of closet space, and is right next to one of the large full bathrooms. Three other bedrooms are on the opposite side of the home with another full bathroom. LOTS of space here!The laundry room has been elevated with new washer and dryer and a full set of cabinets for extra storage. Just off the laundry room is the hot tub and patio for all those long summer nights. Sitting on half an acre of well manicured and fenced in yard, you will be able to sit on your deck or in your hot tub on the patio and enjoy your own little oasis. The basement was professionally waterproofed- it's very dry and offers tons of gaming space (pool table stays with the house), features brand new vented glass block windows, tons of storage space, and the current owner even has a full music room down there. Recent updates include: new windows and door walls, gas insert in the fireplace, washer and dryer, hot tub cover, water heater, sump pump, and basement waterproofing system installed in 2022. Don't forget about the 2 car attached garage with direct access to the basement- lots of space to tinker and still have space to park. This home has two driveways too- options are endless here. This home used to be a duplex- it has been converted back to a single family home but if you're looking for a property that could be used for two families this would be an easy conversion.
MlsNumber:	20230084101

Listing Provided By:	Greater Thumb Realty DBA Century 21 Hart Realty, original listing
Name:	Greater Thumb Realty DBA Century 21 Hart Realty
Phone:	(989) 635-4278
Office Name:	Hart Realty
Office Phone:	(989) 635-0021
Agent Name:	Jenn Hines
Disclaimer:	Copyright Â© 2024 Realcomp Limited II. 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.

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.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing