Nicole Hulet | 3750 Woodside Drive

3750 Woodside Drive
Traverse City, Michigan

$265,000

Bedrooms: 4
Bathrooms 3 1/2
Garage: 2 car attached
Traverse City Schools

Nicole Hulet
231-409-0378
522 E. Front St.
Traverse City, Michigan
Website
Listing Gallery

Nicole Hulet | 2360 Barbeau

2360 Barbeau
Traverse City, Michigan

$129,000

Bedrooms: 2
Bathrooms: 1
Traverse City Schools
Waterfront!

Nicole Hulet
231-409-0378
522 E. Front St.
Traverse City, Michigan
Website
Listing Gallery

Nicole Hulet | Peninsula Bay Suite A50 - Bank Owned

Peninsula Bay Resort Condominiums on East Bay
$266,900

Suite A50

This 5th floor suite has an angled view of East Grand Traverse Bay. At top floor vantage point the view of the eastern shoreline of East Bay with its turquoise waters is just beautiful! This view can be enjoyed on a 210 sqft semicircle balcony off the master bedroom with sun exposure. Suite enjoys a custom kitchen with granite countertops & Pinnacle cabinetry. Living room enjoys large circular window (only suite in the resort that has this window) which provides immense amounts of ambient light and gives this suite a very enlightened feel. Master Bedroom has its own bathroom including dual vanity sinks, granite countertops, tiled glassed in shower. Master bedroom also has a walk-in closet. Guest bedroom shares bathroom connected with suite's main bathroom, has a tub/tiled shower combination, and has a well eliminated south facing window. Guest bedroom also has a walk-in closet. Suite enjoys air conditioning & gas fireplace. Has access to the outside/bayside pool and spa and 330 ft of sandy shoreline.

**This Suite does not come with appliances or furniture show in some of the pictures below. Pictures showing appliances and furnishings are for example only.

Nicole Hulet - Realtor - Condo Investment Specialist
(231) 409-0378
522 E. Front Street
Traverse City, MI 49686
FOR MORE INFORMATION: Nicole's Virtual Flyers
Courtesy of Exit Realty

2710 E Crown Dr - Traverse City, MI - Nicole Hulet - Coldwell Banker Schmidt

2710 E Crown Dr - Traverse City, MI

Nicole Hulet - Coldwell Banker Schmidt

$349,000

Elegant 3 bedroom, 2.5 bath home overlooking the 6th tee at THE CROWN golf course. Amenities include wonderful open floor plan, light & bright interior, hardwood floors in living room, dining room, master bedroom and den, gourmet kitchen with gorgeous custom cherry cabinets, back splash of handmade Italian tile, stainless appliances & granite countertops, king size main floor master suite with 2 walk-in closets and central air. Walk-out lower level has 2 bedrooms, bath and media room with 65'' tv, surround sound and gas fireplace.

For more information: Nicole's Virtual Flyers

Nicole Hulet "Rookie of the Year Award" Coldwell Banker Schmidt

Nicole Hulet of the 548 East Front Street Coldwell Banker Schmidt office was presented the "Rookie of the Year" award for 2007. Coldwell Banker's "Celebration of Excellence" ceremony was held last night at the Grand Traverse Resort. Although Nicole is no "Rookie" (she has held her real estate license since the mid 90s, using it in conjunction with vacation rental management) she was honored to receive the award. Nicole has had great success introducing new owners to the Peninsula Bay Resort Condominiums over the last 2+ years. She sells what she believes in and her heart belongs to Peninsula Bay. Nicole, coupled with a great team from Coldwell Banker, the once thought dim future of the project has turned full circle and this East Bay opportunity has been realized. She plans to continue matching new owners with this high quality complex through this summer 2008.
NICOLEHULET.COM

New Suite Joins Northern Shores Vacation Rentals

Northern Shores Vacation Rentals, LLC. is proud to offer yet another luxury condominium at Peninsula Bay Resort Condominiums on East Bay in Traverse City.
A very sincere congratulations to the owners of Suite C22, their suite is our newest addition in the Peninsula Bay vacation rental l ine up and they have been very hard at work preparing the perfect vacation suite.

Peninsula Bay Suite C22; Let me introduce you... Suite C22 is located on the 2nd floor and is on the East side of the condominium complex. It enjoys one of the largest balconies at approx. 210 sq.ft. and is a comfortable distance from the green lawn below. I great suite for those that are not fond of great heights! Also note that the "C" suites are the closest suites to the bay while still being on the side of the building. Off the balcony is the master bedroom via a sliding glass door. There is also a separate door leading into the living room from the balcony. The master bedroom boasts a granite dual sink vanity and a stand up glassed in shower with tiled sitting stool. The master bedroom as well as the guest bedroom have roomy walk-in closets. The living room is spacious and has lots to offer. There is a flat screen TV lending a view to both the kitchen area as well as the living room. On the East wall in the corner is a "flip-the-switch" gas fireplace that is idea for cool nights or just mood lighting. There is a comfortable lounge type chair in the living room that is a wonderful place to kick back and do some reading or even some napping! The ceiling is vaulted and uses rope lighting that gives off a nice warm glow during the evening hours. Off the living room is a fully stocked kitchen. Besides Peninsula Bay's standard sub-zero refrigerators, dual drawer dishwashers, granite counter-tops, convection gas ranges, & under the counter microwaves, there are pots and pans, utensils, glasses, coffee cups, plates, silverware, strainers, knifes, right down to the paper towels - all provided. Suite C22 also has clothes washer & dryer accommodations. A near full-size stackable washer & dryer is located in the hallway near the guest bedroom and across from the extra half bathroom. There are two coat closets with automatic lighting. (open the door - light comes on, shut the door - light goes out!) The guest bedroom has two full beds and wall mounted flat screen TV. The guest bedroom has its own full bathroom and walk-in closet. The "C" suites have the largest second bedroom of all suites. Another nice inherited feature of the "C" suites is that their door to the common hallway is separate from all other suites for a little more of a private setting.
VisitNorthernShores.com

Grand Traverse Commons: The Village - New Hotel Planned

The Village - What a unique place. Lots of history and rick in architecture and mystique. There is news on the forefront that the Developer John Weeman, Jr. has plans for a 90-room "boutique hotel" for The Village at Grand Traverse Commons. The possibilities seem endless for this project and I am very excited to see these buildings alive with better times than old.
The buildings in question are the three across from "Tratoria Stella" restaurant. These buildings are to be converted and renovated to include the boutique style hotel, a hall, and a meeting/conference room. Mr. Weeman, Jr. is says these additions will allow for corporate retreats, ballroom space for groups, and will be able to service wedding parties of up to 500 guests. Construction is planned to begin this spring 2008 and hey anticipate hiring 120 full time employees by the time they open in full swing spring 2009. The proposed name of the hotel is: "The Inn at the Commons."
NicoleHulet.com

Grand Traverse Commons: The Village - History

A Brief History;
HistoryNorthern Michigan Asylum for the Insane was established in 1885 as the demand for a third psychiatric hospital, in addition to those established in Kalamazoo and Pontiac, Michigan, began to grow. Lumber baron Perry Hannah, “the father of Traverse City,” used his political influence to secure its location in his home town. Under the supervision of prominent architect Gordon W. Lloyd, the first building, known as Building 50, was constructed with Victorian-Italianate style according to the Kirkbride Plan.Under Dr. James Decker Munson (1848-1929), the first superintendent from 1885 to 1924, the institution expanded. 12 housing cottages and 2 infirmaries were built between 1887 and 1903 to meet the specific needs of more male and female patients. The institution became the city’s largest employer and contributed to its growth.Long before the advent of drug therapy in the 1950s, Dr. Munson was a firm believer in the “beauty is therapy” philosophy. Patients were treated through kindness, comfort, pleasantry, and exposure to the asylum’s plentiful arrangements of flora provided year round by its own greenhouses and the variety of trees Dr. Munson planted on the grounds. Restraints, such as the straitjacket were forbidden. Also, as part of the “work is therapy” philosophy, the asylum provided opportunities for patients to gain a sense of purpose through farming, furniture construction, fruit canning, and other trades that kept the institution fully self-sufficient.While the hospital was established for the care of the mentally ill, its reach expanded during outbreaks of tuberculosis, epilepsy, typhoid, diphtheria, influenza, and polio. It also cared for elderly and trained nurses. After Munson’s retirement, James Decker Munson Hospital was honorably established on the grounds in 1926, which was operated by the state well after his death and into the 1950s. It was then replaced by Munson Medical Center, known for being one of the top hospitals in the country.With the gradual success in drug therapies in the 1970s, many patients were cured and/or improved, leaving many of the buildings empty. This, in addition to changes in mental health care philosophy, the decline of institutionalization, and cuts in funding, the Traverse City Regional Psychiatric Hospital was forced to shut down in 1989.

wikipedia.org

The Enclave Site-Condominiums on the Old Mission Peninsula

The Enclave Site Condominiums are a located at the base of the Old Mission peninsula about a mile from front street. The Enclave consists of 16 "site" condominiums which are more like luxury homes then condos. Yes, you do get all the benefits of condo living, with a maintenance free life style, but you also get the space to live comfortably. The "condos" at the Enclave are individual new homes, build by Mission Bay Construction of Traverse City a very well respected and sot after development company. Their attention to detail and understanding of quality craftsmanship is the backbone of their reputation as being one of the best in the area. As a owner within the Enclave development, you will enjoy association funded amenities;

• Snow Removal: which is always prompt and courteous


• Professional window washing: twice a year, both spring and fall


• Lawn mowing and trimming: includes planter maintenance and weeding


• Garbage Removal

The Enclave is open most every weekend year-a-round. Barbara Belanger, an agent with Northern Shores Real Estate, LLC., is an Enclave expert. She has assisted clients for the past two years in regards to purchases within the Enclave. If you haven't and would like to see all that the Enclave has to offer, don't hesitate contacting Barbara. (231) 409-7100 Cell

Link to The Enclave: Enclave Site Condominiums

Traverse City Vacationer™ - An On-line Vacation Rental Resource

I would like to introduce you to a website for vacationers as well as vacation rental owners. Traverse City Vacationer (TraverseCityVacationer.com) has tripled in membership since its conception earlier this year. You will find a wealth of vacation rentals in Traverse City as well as many in Leelanau County and the Elk Rapids area. Slideshows of each property is the norm, not he exception. Detailed descriptions and rate information is provided with an e-mail to contact the property owner/manager. Be sure to give this site a look, I expect it to be an upcoming source of vacationer information and services.
NicoleHulet.com

Traverse City - An Understanding of Bank Foreclosure

Bank Foreclosure
Foreclosure is the equitable proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien."

Types of foreclosure
The mortgage holder can usually initiate foreclosure anytime after a default on the mortgage. Within the United States, several types of foreclosure exist. Two are widely used, with the rest being possibilities in a few states.
The most important type of foreclosure is foreclosure by judicial sale. This is available in every state and is the required method in many. It involves the sale of the mortgaged property done under the supervision of a court, with the proceeds going first to satisfy the mortgage, and then to satisfy other lien holders, and finally to the mortgagor. Because it is a legal action, all the proper parties must be notified of the foreclosure, and there will be both pleadings and some sort of judicial decision, usually after a short trial.
The second type of foreclosure, foreclosure by power of sale, involves the sale of the property by the mortgage holder not through the supervision of a court. Where it is available, foreclosure by power of sale is generally a more expedient way of foreclosing on a property than foreclosure by judicial sale. The majority of states allow this method of foreclosure. Again, proceeds from the sale go first to the mortgage holder, then to other lien holders, and finally to the mortgagor.
Other types of foreclosure are only available in limited places and are therefore considered minor methods of foreclosure. Strict foreclosure is one example. Under strict foreclosure, when a mortgagor defaults, a court orders the mortgagor to pay the mortgage within a certain period of time. If the mortgagor fails, the mortgage holder automatically gains title, with no obligation to sell the property. Strict foreclosure was the original method of foreclosure, but today it is only available in a few states, such as Connecticut, New Hampshire and Vermont.

Acceleration
The concept of acceleration is used to determine the amount owed under foreclosure. Acceleration allows the mortgage holder the right when the mortgagor defaults on the mortgage to declare the entire debt due and payable. In other words, if a mortgage is taken out on property for $10,000 with monthly payments required, and the mortgagor fails to make the monthly payments, the mortgage holder can demand the mortgagor make good on the entire $10,000 of the mortgage.
Virtually all mortgages today have acceleration clauses. However, they are not imposed by statute, so if a mortgage does not have an acceleration clause, the mortgage holder has no choice but to either wait to foreclose until all of the payments come due or convince a court to divide up parts of the property and sell them in order to pay the installment that is due. Alternatively, the court may order the property sold subject to the mortgage, with the proceeds from the sale going to the payments owed the mortgage holder.

Foreclosure by judicial sale
Foreclosure by judicial sale requires the mortgage holder to proceed carefully in order to ensure that all affected parties are included in the court case, so the purchaser of the foreclosed property receives valid title to the property.

Process
The process of foreclosure is lengthy and the timeframes for when the lending institution begins the process vary from state to state. Other factors, such as the increasing availability of personal loans for owners facing foreclosure, present homeowners with foreclosure avoidance options. Websites which connect individual borrowers and homeowners to individual lenders are increasingly used as mechanisms to bypass banks while meeting payment obligations for mortgage providers. The increase in the number of foreclosures in the United States has led to more loan listings which are designed to forestall or prevent foreclosure.
In the United States, there are two types of foreclosure in most common law states. Using a "deed in lieu of foreclosure," or "strict foreclosure", the bank claims the title and possession of the property back in full satisfaction of a debt, usually on contract. In the proceeding simply known as foreclosure (or, perhaps, distinguished as "judicial foreclosure"), the property is exposed to auction by the county sheriff or some other officer of the court. Many states require this latter sort of proceeding in some or all cases of foreclosure, in order to protect any equity the debtor may have in the property, in case the value of the debt being foreclosed on is substantially less than the market value of the immovable property (this also discourages strategic foreclosure). In this foreclosure, the sheriff then issues a deed to the winning bidder at auction. Banks and other institutional lenders typically bid in the amount of the owed debt at the sale, and if no other buyers step forward the lender receives title to the immovable property in return.
Other states have adopted non-judicial foreclosure procedures, in which the mortgagee, or more commonly the mortgagee's attorney or designated agent, gives the debtor a notice of default and the mortgagee's intent to sell the immovable property in a form prescribed by state statute. This type of foreclosure is commonly referred to as "statutory" or "non-judicial" foreclosure, as opposed to "judicial". With this "power-of-sale" type of foreclosure, if the debtor fails to cure the default, or use other lawful means (such as filing for bankruptcy which provides a temporary automatic stay to the foreclosure proceeding) to stop the sale, the mortgagee or its representative will conduct a public auction in a similar manner as the sheriff's auction described above. The highest bidder at the auction becomes the owner of the immovable property free and clear of any interest of the former owner but the property may be encumbered by any liens superior to the mortgage being foreclosed (e.g. a senior mortgage, unpaid property taxes etc). Further legal action, such as an eviction may be necessary to obtain possession of the premises.
"Strict foreclosure" is an equitable right available in some states. The strict foreclosure period arises after the foreclosure sale has taken place and is available to the foreclosure sale purchaser. The foreclosure sale purchaser must petition a court for a decree that will cut off any junior lienholder's rights to redeem the senior debt. If the junior lienholder fails to do so within the judicially established time frame, his lien is cancelled and the purchaser's title is cleared. This effect is the same as the strict foreclosure that occurred at common law in England's courts of equity as a response to the development of the equity of redemption.
In most jurisdictions, it is customary for the foreclosing lender to obtain a title search of the immovable property and to notify all other persons who may have liens on the property, whether by judgment, by contract, or by statute or other law, so that they may appear and assert their interest in the foreclosure litigation. In all US jurisdictions a lender who conducts a foreclosure sale of immovable property which is the subject of a federal tax lien must give 25 days' notice of the sale to the Internal Revenue Service: failure to give notice to the IRS will result in the lien remaining attached to the immovable property after the sale. Therefore, it is imperative that the lender obtain a search of the local Federal Tax Liens so that if the persons or companies involved in the foreclosure have a federal tax lien filed against them, the proper notice to the IRS will be given. A detailed explanation by the IRS of the Federal Tax Lien process can be found here.

Foreclosure auction
When a bank auctions a repossessed property, they will typically set the starting price as the remaining balance on the mortgage loan. Many times, however, in this market the bank will set the starting price at a lower amount if it believes the real estate securing the loan is worth less than the loan. This is not usually the case in the state of Alabama.
In the case where the remaining mortgage balance is higher than the actual home value, known as an Upside-down mortgage, the bank is unlikely to attract auction bids at this price level. A house that went through foreclosure auction and failed to attract any bids becomes property of the bank. It is called "REO" (real estate owned). The bank will typically try to sell it at a loss later through standard channels.

Further borrower's obligations
Mortgagor is required to pay for mortgage insurance, or PMI, for as long as the principal of his primary mortgage is above 80% of the value of his property. In most situations, insurance requirements are sufficient to guarantee that the lender will get all his money back, either from foreclosure auction proceeds or from PMI.
Nevertheless, in an illiquid real estate market or following a significant drop in real estate prices, it may happen that the property being foreclosed is sold for less than the remaining balance on the primary mortgage loan, and there's no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the mortgagor. Deficiency judgment is a lien that obligates the mortgagor to repay the difference. It gives lender a legal right to collect the remainder of debt out of mortgagor's other assets (if any).
There are exceptions to this rule, however. If the mortgage is a non-recourse debt (which is often the case with residential mortgages), lender may not go after borrower's assets to recoup his losses. Lender's ability to pursue deficiency judgment may be restricted by state laws. In California and some other states, original mortgages (the ones taken out at the time of purchase) are typically non-recourse loans, however, refinanced loans and home equity lines of credit aren't.
If the lender chooses not to pursue deficiency judgment—or can't because the mortgage is non-recourse—and writes off the loss, the borrower may have to pay income taxes on the unrepaid amount.
Any other loans taken out against the property being foreclosed (second mortgages, HELOCs) are "wiped out" by foreclosure (in the sense that they are no longer attached to the property), but borrower is still obligated to pay them off if they are not paid out of foreclosure auction's proceeds.

Foreclosure investment
Some individuals and companies are engaged in the business of purchasing properties at foreclosure sales. Distressed assets (such as foreclosed property or equipment) are considered by some to be worthwhile investments because the bank or mortgage company is not motivated to sell the property for more than is pledged against it.

Other countries
Australia & New Zealand - Foreclosures are generally referred to as Mortgagee sales or Mortgagee auctions. In those cases, the bank or lender ("Mortgagee") forces the Lender ("Mortgagor") to sell under the terms of the loan contract.
United Kingdom - Foreclosure is a little used remedy which vests the property in the mortgagee with the mortgagor having no right to any surplus from the sale. Due to the potential harshness of the remedy, courts will almost never allow this remedy. Instead they will grant an order for possession and an order for sale, which mitigates some of the harshness of the repossession by allowing the mortgagor to retain any surplus from the sale.

provided by wikipedia.com

Grand RE-Opening of Downtowns State Theatre - Traverse City - Year Around Movies!!

Peninsula Bay Condominiums Get Bathrooms

Pioneer Construction, of Grand Rapids, started construction on Peninsula Bay Condominium's long awaited pool-side restrooms.First slated for the 2nd phase of construction, the restrooms have been added to the 1st phase building in order to conform to standards regarding the outside pools and an easily available restroom facility.

Welcome to my Blog...

Hello, and welcome to my blog... These pages will be filled with local real estate information and events in the near future. There will be information on my listings, vacation rentals, and current events and on-goings in and around the Traverse City area. Please check by again to see what is new...!

Nicole