Here is the September, 2014 REO / Bank Owned and distressed assets / Real Estate update for the Lansing / East Lansing market. This market area includes Okemos, Haslett, Holt, Mason, Portland, Williamston, Eaton Rapids and neighboring communities.
Commercial bank owned inventory continues to be in short supply, even as additional buyers enter the market eager to find the storied “deals” of 2010 and 2011.
The lending community appears to have seen the uptick in sales volume and price trends and has become unwilling to sell properties below market values. This is providing a much needed bounce in the values of these properties and the appraisal values as sale prices continue to rise across most product types.
For September, we have no new inventory on the market and no price changes from previous months. Our product pipeline does have several opportunities near the marketing stage however. These properties are expected to be clear to market in early October.
For more information on bank owned and bankruptcy properties in Michigan, please contact Matthew Wisniewski at RE/MAX Commercial Group today. With access to the latest offerings including multifamily, shopping centers, office, retail and office bank owned property, RE/MAX Commercial Group can assist you even if the property you are looking for is not yet on the market. Visit us today at http://www.rcgmichigan.com to search additional listings, virtually meet the commercial team and find out more about our services.
For Asset Managers: If you have a property that could benefit from a premier marketing presence, appreciate timely completion of assignments and regular feedback, our commercial marketing professionals are available for assistance in Lansing , MI and the surrounding metro area. Call 517-321-2800 ext 118 for more information.